Facing an IRS audit might feel like a distant possibility, with less than one percent of tax returns coming under scrutiny in recent times. However, don’t dismiss the idea just yet, as the reality could be different for you. This is particularly relevant if your tax return involves complex business expenses or if your income places you in a higher bracket.

The reassuring news is that nearly 75 percent of audits involve notices or letters sent by the IRS, seeking additional information or clarification. The remaining cases entail full field audits.

Resisting the urge to respond directly to an IRS letter or notice is wise, even if you have a solid grasp of tax laws. Remember, while IRS auditors might come across as friendly, they ultimately represent the IRS, not your interests.

Make an Informed Decision

While it’s true that taxpayers can emerge successful from IRS audits, the odds increase significantly with the presence of an experienced tax professional by your side. Without this support, you might find yourself owing the IRS money instead of receiving a refund.

When you engage us to represent you during an audit, here’s how we support you:

1. Manage all correspondence related to the audit.
2. Ensure you take the necessary steps to minimize your tax liability.
3. Handle all interactions with auditors to mitigate the risk of additional financial obligations.
4. Initiate an appeal if the situation demands.

Why Leave It to Chance?

The significance of having a proficient tax expert represent you during an IRS or State tax audit cannot be emphasized enough. If you’ve received a letter or notice from the IRS, or if you’re embroiled in a tax dispute, don’t hesitate to get in touch.

Contact us today, use the contact form below to reach out. We’re here to provide the assistance you need.

While many taxpayers dutifully file their tax returns on schedule, there are instances where some individuals simply cease filing altogether. Often, this change is prompted by circumstances such as financial difficulties or emotional challenges.

Alternatively, individuals might have misplaced the necessary paperwork for filing their returns, or the intricacies of new tax reform laws could have overwhelmed them, resulting in a delay in filing for the current year. Regardless of the reason, failing to address this situation only exacerbates the problem.

We’re Here to Guide You Back on the Right Path According to IRS estimates, over a million taxpayers choose not to file their tax returns in a given year. Regardless of whether you file as an individual, head of household, self-employed individual, or a business owner, our assistance is available if you find yourself in this situation.

Here’s how we can assist you:

Recreate lost tax records if your documents are misplaced Prepare and submit overdue tax returns Engage in negotiations with the IRS on your behalf Submit an offer in compromise to the IRS Establish installment agreements with the IRS to settle owed taxes Represent you throughout the tax preparation and collection procedures You Might Be Missing Out on a Legitimate Refund Whether you’ve skipped filing for one year or more, it’s never too late to act. If you don’t owe any taxes, you could be entitled to a refund. And if you do owe taxes, there might be opportunities to minimize your liability.

Help Is Just a Phone Call Away While not everyone is required to file a tax return, if you fall into that category and haven’t filed, you could face penalties for failure to file or potentially even a year of incarceration. Why take such risks?

If you’re part of the group of over a million taxpayers who haven’t filed their tax returns recently, don’t hesitate to reach out. Call our office to arrange a meeting with a tax specialist or complete the contact form below.

Addressing Your IRS Tax ObligationsIn situations where eligibility for the IRS Offer In Compromise program is not met, considering a Payment Plan might offer a solution to your predicament. Enrolling in a payment plan through the IRS extends the period for settling your tax liabilities, providing you with additional time.

It’s important to acknowledge that, as you work towards repaying the debt, penalties and interest will persist and accumulate on the remaining balance. It’s a legal requirement to cover the interest on your outstanding tax debt.

Did you know that the IRS offers an Offer in Compromise program that enables you to settle your tax debt for an amount less than what you owe? This program is designed for taxpayers who have incorrect tax assessments or are unable to afford their liabilities.

According to the IRS Code, “We will accept an Offer in Compromise when it is unlikely that we can collect the full amount owed and the amount you offer reasonably reflects the collection potential…” (Internal Revenue Code section 7122).

In many cases, it’s possible to entirely eliminate the taxes owed, along with associated penalties and interest, at a significant discount. There’s no predetermined minimum limit that the IRS will accept for settling your debt, especially when the offer is carefully prepared.

By approaching this process correctly, your debt could potentially be resolved for just 5-15% of your current owed amount. The key lies in accurately determining the lowest acceptable amount for the IRS to consider before submitting your offer.

Additionally, it’s important to know that bankruptcy could potentially provide a way to eliminate your back taxes, along with interest and penalties. If you qualify, bankruptcy could be the optimal solution for alleviating your overwhelming tax burdens.

However, it’s worth noting that not everyone meets the criteria to discharge their tax debt through bankruptcy. Specific rules must be met in advance. If you file for bankruptcy without meeting these rules, the IRS may continue pursuing your tax debt once the bankruptcy proceedings conclude. Properly strategizing and planning before initiating bankruptcy proceedings is crucial to assessing the viability of this option.

If you are facing difficult circumstances and are unable to pay a past tax debt you you may qualify for significant tax relief and able to settle your taxes as you have heard “for pennies on the dollar”.  We have much experience settling such cases with the IRS. Contact us today to see if you qualify and stop the calls, notices and all the trouble!

Federal Tax Liens have the potential to cast a heavy shadow over your life, causing significant distress. When your taxes remain unpaid, the IRS establishes a lien that extends to all your assets, with a special emphasis on real estate. This grants the IRS the legal authority to recover taxes from the proceeds generated by selling your assets, essentially encompassing nearly every possession you own.

This lien can be placed against you, your spouse, or even your business entity. If your company is subjected to a lien, it could lead to the appropriation of your accounts receivables. At this stage, your assets are precariously close to being seized as property of the United States Government.

Moreover, IRS-filed liens are recorded on your credit report, frequently hindering your ability to open a checking account or secure loans against your assets, such as your home. Financial institutions are inclined to avoid the hassle when the IRS enters the scene to claim your funds.

The Consequences of a Federal Tax Lien

When a Federal Tax lien attaches to your profile, several ramifications come into play:

1. Accessing reasonable loans for purchasing a car becomes problematic, often resulting in exorbitant interest rates ranging from 18-30% for a car that’s already pricey.
2. Your capacity to buy or sell real estate is seriously curtailed.
3. Numerous other restrictions arise, creating an enduring impact on your financial freedom.

The implications of Federal Tax Liens are extensive and far-reaching.

Our Solution for you

As your representative we will negotiate the best possible solution for you with the IRS. The best solution is for us to deal with this before the lien is placed.

In contrast to a levy, which focuses on intangible holdings like your bank account, a seizure involves the confiscation of tangible properties such as your house or automobile. Seizures are typically initiated in serious cases where an individual consistently ignores numerous appeals from the IRS to settle their lingering tax liabilities over an extended duration.

It’s important not to underestimate the gravity of a seizure. The IRS is resolute in their pursuit of acquiring your tangible assets. Numerous news outlets have covered stories of citizens being compelled to vacate their homes after these properties were sold off in IRS auctions, often fetching a fraction of their true value.

When the IRS executes a seizure, their goal is to promptly liquidate the assets through auctions. However, these auctions usually yield less than half of the asset’s actual value, prompting the IRS to seize a wide array of your possessions—ranging from your residence and vehicles to boats, jewelry, motorcycles, insurance policies, and even retirement funds.

There is a 90 day limit here. Make sure you file your case on time.