Some of the Tax Problems We Cover
You may be under enormous pressure from the IRS and considering filing bankruptcy to settle it all. Did you know… Yes, you may be able to discharge debts for some federal income taxes under a Chapter 7 bankruptcy if you meet certain criteria…
Payroll Tax Problems
The IRS takes a dim view of failing to pay your payroll taxes. In fact, the IRS views it as theft of the government’s money and even has a hotline to report an employer if their employment taxes are not being paid.
Payday is usually a welcome and happy day but if you are having IRS troubles it can become the “Highly Unpleasant Surprise Day”. Picture this. You go online to pay bills after your check should have deposited only to discover some scrawny amount was deposited where your normal paycheck amount should be.
Reduce Amounts Owed
The IRS does make deals on taxes owed, including all penalties and interest, but the requirements are rigid. To qualify for a deal with the IRS, you need to meet some requirements.
Unfiled Tax Returns
Many people don’t realize that the IRS charges a penalty of up to 25% just for filing your tax return late. That’s right; you will get hit with an additional 25% of what you owe if you miss the deadline for filing individual tax returns. It’s even worse for payroll tax returns.
IRS Liens & Levies
A federal tax lien is a legal claim to your property, including property that you acquire after the lien arises. The federal tax lien arises automatically when you fail to pay in full the taxes that have been assessed against you within ten days after the IRS sends the first notice of taxes owed and demand for payment.
You’ve heard of those tax auctions where you can get a good deal on a house or a car, right? Well, this is where those good deals come from. The IRS can seize everything... your house, cars, boats, jewelry, motorcycles, insurance policies, retirement funds, anything they can locate with any value.
Innocent or Injured Spouse Relief
Do you have a spouse that understated a tax liability? Did you have no knowledge of what they did? Did you get ZERO benefits from what they did and now you are paying the price? You may be entitled to Innocent Spouse Relief.
Back Taxes Owed
You might be feeling the temptation, once a filing deadline is missed, to delay taking action. It can feel like an escape to mimic an ostrich and stick your head in the sand. Unfortunately, this just compounds the mistake of not filing the return to begin with.
IRS Audit Representation
Taxpayers are deemed guilty till proven innocent, which means the IRS can start an audit by disallowing every deduction you made on a return until each one is proven to be legitimate. Having IRS Hostage Negotiators on your side for an audit vastly improves your chances for a successful outcome.
The IRS has over 148 different types of penalties they can hit you with. And the worst part is that the IRS can also charge interest and additional penalties on the original penalty.