The IRS is extremely complex and it is no surprise that so many people run into tax problems each year. The IRS understands that problems do arise and they have created methods to make things easier on individuals and businesses. The IRS is willing to work with individuals on resolving their tax tax problems as long as they are upfront about their problem and make the appropriate tax filings to correct the situation.
Get started by filling out the form on the right and let us help solve your tax issues.
Filing Back Taxes
Not filing a tax return and having back taxes is actually much worst than filing a return and not paying what is owed. The sooner you take action the better. The IRS has an unwritten rule to not punish people that intentionally file before they are found by the IRS. Find more information on the proper way to file back taxes, even if you do not have the right documentation or money to pay.
Have unpaid taxes that you can’t pay? There are many options available to you depending upon how much you owe, your current financial situation and your anticipated future financial situation. The worst thing to do would be to ignore your problem as the IRS is very understanding when it comes to individuals that cannot pay. If you do not notify them and make appropriate filings you will be charged stiff penalties.
Tax Liens and Levies
A tax lien is the first major step the IRS takes against individuals that owe taxes. With a tax lien the IRS is taking legal claim to assets in order to ensure payment. A tax lien can be removed if you can pay the taxes owed or if you can assure the IRS that you will be paying. There are many different settlement methods the IRS will accept. A tax levy is the harshest of the collection mechanisms the IRS has. They can legally take your assets in order to satisfy the tax liability. The IRS can take your wages, money in your bank account, your house, your car, or anything else of monetary value. The IRS will typically give 30 days notice before they do any of this and this will give you enough time to take action and stop them.
IRS Wage Garnishment
IRS wage garnishment is a form of tax levy in which the IRS garnishes your pay check. This is one of the most common forms of levy for taxpayers that are salaried workers. Professional Tax & Accounting Solutions, LLC can help you understand how a wage levy works and the different methodologies that can be used to stop the levy or negate the effect of it.
Tax Settlement Options
An offer in compromise is an agreement enabling a business or individual to settle a tax debt for less than the full amount owed. If you qualify, we will work with the IRS to negotiate an agreement for the lowest possible settlement.
An installment agreement enables someone who can’t afford a large lump sum to pay off a tax debt in smaller increments. We can help you negotiate a plan that will meet your budget.
Currently-not-collectible status means that the IRS has removed your account from active collection efforts. We can help you determine whether you meet the qualification guidelines and if possible, have your account declared non-collectible.
Penalty and interest amounts for back taxes are often negotiable. Our experienced tax professionals will do everything possible to reduce your obligation.
IRS Audit Assistance
An IRS audit is when the IRS tries to confirm the details of your tax return to determine its accuracy. When being audited it is important to know the rules of the game. Tax auditors are experts at reading people and uncovering things not covered in the initial audit notice. Having a tax professional on your side can significantly increase the odds of you getting a better outcome on your audit. Having a tax professional represent you before the IRS can be a great decision and can actually end up saving you money.