Tax Problems?

The following issues can be resolved using the Internet, Fax Machine and the US Mail            

If you cannot pay all the taxes that you owe, you may be able to:

• Make monthly payments  (You must have filed all past due returns)

• IRS will give you 60 months to pay your tax bill on a payment plan.
• Once we have completed the correct forms, you will speak with IRS via the telephone and they will let you know if they can accept your payment plan?
• Most payment plans are accepted unless you have defaulted on a previous plan in the pass.
• If you have defaulted in the pass, we will help you complete the necessary paperwork to get your payment plan reinstated.  This is totally up to IRS's discretion.       

• You May be able to apply for an Offer in Compromise

• Doubt as to liability
• Doubt that you would ever be able to pay the full amount of tax owed 
• You have an economic hardship or other special circumstances
• We would complete the forms for you and ensure that you received all legal deductions on the 433-A

Can taxes be settled by offering pennies on the dollar?

OICs must include an amount equal to or greater than the total value of all assets, plus future income. That total is generally the reasonable collection potential amount, and not simply an offer of ten cents on the dollar, or a percentage of the debt. A consumer alert has been issued advising taxpayers to beware of promoters' claims that tax debts can be settled for "pennies on the dollar."  The IRS cautions that the OIC program is not designated to be a program for everyone with financial problems, and it should not be viewed as an invitation to avoid paying taxes.
 

• You may qualify for a temporary delay or your case may be considered s significant hardship                            

IRS can collect outstanding taxes for ten years.  

The ten year period is automatically extended for bankruptcy.

Bankruptcy

Filing a petition under the US Bankruptcy Code can often reduce tax debts.  Consult an Attorney for more information  The moment you file for bankruptcy ALL creditors must "stop" contacting you directly.  The downside to filing bankruptcy is it will effect your credit for years to come.  

Liens

Liens gives IRS a legal claim to your property as security or payment for your tax debt.  Once a lien is filed, your credit rating will be effected.  The lien attaches to all your property (such as your house or car) and to all your rights to property (such as your accounts receivables) Contact Us 

The full amount of your lien will remain a matter of public record until it is paid in full.

Levies

If IRS levies your bank account, your bank must hold funds you have on deposit - up to the amount you owe, for 21 days.  This period allows you time to solve any problems from the levy or to make other arrangements to pay.  After 21 days, the bank must send the money, plus interest if it applies to the IRS.  Contact Us  (Note:  If you own Real Estate or have a Small Business and IRS has sent an intent to Levy,  it is best to contact an Enrolled Agent or a Tax Professional as soon as possible).

You can get a Levy released prior to full payment.  There are conditions.  Contact Us

Innocent Spouse

In some cases, you may not be responsible for taxes, interest and penalties on a joint income tax return.  Contact Us

Quarterly Estimated Tax Payments

We can help you determine the amount you should send to IRS each quarter.  Contact Us

IRS received a W-2 and Filed Your Taxes For You.

Contact Us as soon as possible.  You first action would be to file your own tax return.  Tax Law comes into "play" here.  It is recommended that you hire a professional tax professional to complete these tax years.

Penalties and Interest

In some cases penalties and/or interest can be reduced and even eliminated.  Form 843 is used to request Abatement.  There are circumstances that can reduce penalties and/or interest.

A penalty is charge when you do not pay your tax on time.  Initially, the penalty is one half percent of the unpaid tax for each month or part of a month you didn't pay your tax.

Interest is charged when your tax is not paid on time.  Interest is computed from the due date of your return (regardless of extensions) until paid in full.  Interest compounds daily.

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