Matching Taxpayers in Trouble with Tax Resolution Professionals
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Businesses are required to collect and remit sales tax on taxable items they sell. They are also required to file sales tax returns. If companies are operating in more than one state, multiple state filings could be required. If you get audited, you will need representation.
A tax lien arises automatically whenever someone owes money to the IRS and fails to pay it upon demand. However, to protect its interest in the taxpayer’s assets and provide notice to third-party creditors that the taxpayer owes taxes, the IRS may file a Notice of Federal Tax Lien as a public record. Tax liens can be discharged, withdrawn, subordinated, and you can have assets released from the lien, all depending upon your particular circumstances.
A Tax Levy is where the IRS actually seizes your assets to pay a back tax debt. These include bank executions, wage garnishments, and seizing money owed to you by vendors. Levies may be avoided by dealing with the IRS to work on a resolution, and money that was levied may be released if an arrangement is worked out quickly.
Joint tax returns create joint liability. If you believe that you should not be held responsible for a joint liability that rightfully belongs to your spouse or former spouse, a request for innocent spouse relief can help resolve the issue. There are three types of innocent spouse relief, and which one is most beneficial for your situation, and how you document your case for relief, is critical. A tax rep specialist can assist you through this complicated process and help you submit a request that has the best possible chance of success.
Uncollectible status, or “CNC”, is where the IRS determines that you are in economic hardship and is unable to pay anything toward your back tax debt. The IRS will still file its Notice of Federal Tax Lien, but will not take any levy action against you when you are deemed to be CNC. Hence being placed in CNC can provide you with breathing room to sort out your options, like an Offer-in-Compromise.
An installment agreement is a payment plan with the IRS to help resolve the back-tax debt. There are several different variations of agreements, and you want an experienced professional to assist you determining which type of installment agreement you qualify for and is best for you.
An Offer-in-Compromise is agreement with the IRS to settle the tax debt that is owed for less than the total owed. The IRS accepts Offers that meet its “Reasonable Collection Potential” test. If you are seeking to settle your debt for less than the total owed it is critical to have your situation evaluated by a tax rep professional that understands the Offer process and calculation.
Tax penalties are designed to act as a punishment for those that do not follow the rules. However reasonable cause exceptions and first-time relief is available for taxpayers that qualify. Requesting relief and documenting reasonable cause can be difficult, and having a specialist in representation help you pull together the best package possible is key to resolution.
The IRS has a right to examine your books and records and is looking for adjustments. You do not, and should not, handle this on your own. It is critical to have qualified representation guide you through this and help you provide your supporting documentation.
Looking for a top tax pro in your area to get your tax return done? You have come to the right place. Click here to get a listing of tax pros in your area that can help you get that return filed today.
The IRS will open a criminal tax investigation when it believes a crime has been committed. Having the proper criminal representation can help assure the best outcome possible, from convincing the government to kill the whole investigation, to mitigating the tax loss and any accompanying federal sentence. Having the proper legal and tax pros on your side when the IRS is pursuing a criminal tax investigation cannot be overstated.
If you are losing sleep at night over tax returns that you have filed, or even those you have not, there is a way to clean up the nightmare and avoid a visit from IRS special agents. The IRS, as well as many states, have a robust voluntary disclosure program where taxpayers can clean up these past issues without subjecting themselves to criminal prosecution. Having the correct attorney and tax pro assisting you is required to even start dealing with voluntary disclosure. There is a way out, but we need to make sure we go down the correct path!
Have not filed a tax return in a while, or maybe even longer? Do not sweat it! The IRS requires only the last 6 years of tax returns be on file to be considered in tax compliance. Having a professional help you pull together those missing tax returns and get them filed in a way that makes it easier to resolve any balance due is critical.
Do you have a bill from the IRS that you do not believe you owe? There are ways to challenge an assessed tax, including audit reconsideration, a doubt-as-to-liability Offer, and payment followed up by a request for refund. Which of these options is best depends upon your personal situation and the nature of the liability. Have a tax rep specialist help you sort out the best option and begin working on getting the liability corrected.
Whether from an IRS exam or collection action, you have the right to appeal the proposed action or adjustments by the IRS. Having a competent representative who is comfortable with the Appeals process is critical to obtaining the correct outcome, reducing penalties and resolving the matter.
When the IRS proposes changes to a taxpayer’s return that are either unagreed at the exam level or adjustments proposed by the automated under-reporter unit at the IRS, a Notice of Deficiency will be issued to the taxpayer. This notice creates a 90-day window for the taxpayer to file their case in the United States Tax Court and challenge the assessment. Those taxpayer who have not yet been to Appeals will have their case assigned to Appeals to try and resolve it. If nothing is done to address the Notice of Deficiency, the assessment will go final, liens will be issued and levy action may follow.
Payroll taxes are the number one reason why small businesses get into trouble. Resolving the payroll tax debt requires a resolution for not only the business but also the individuals responsible for the failure of the employer to collect and pay the tax.