Tax Debt Relief: The IRS’s Best Kept Secret

Showing posts with label Do You Really Need A Tax Advisor?. Show all posts
Showing posts with label Do You Really Need A Tax Advisor?. Show all posts

Wednesday, November 4, 2020

Why Get Tax Lien Help from a Licensed Tax Professional?

A licensed tax professional makes it easier to deal with the IRS or state. They have the knowledge, experience, and dedication you need to get your tax lien and your tax debt resolved. If you owe more than $10,000 in back taxes

Receive a free, no-obligation consultation by calling or utilizing the form above during the complimentary consult, an enrollment agent or a tax professional will review your financial situation. A financial review includes understanding your assets, income, liabilities or expenses. Next, they will ask you about your tax situation including the tax lien. Did you file all tax returns? Did you receive any letters? When was the tax lien field and for how much? 

Next, the agent will get a better understanding of your goals. Are you trying to discharge or subordinate a tax lien? Release or withdraw it? Are you trying to appeal a Notice of Federal Tax Lien?

Finally, the agent will provide your information to one of the licensed tax professionals on staff to give you an idea of what you need to do to resolve your tax situation and resolve your tax lien issues. You will also be provided the fees to complete the proposed action(s) if you decide you want professional help. In some cases, with your authorization, your tax records may be retrieved to provide you a better idea of your tax options and the corresponding fees.

When the IRS or state is continuously sending you letters or calling you, that can get scary and intimidating. If you’re dealing with the situation on your own, you have to fill out lots of forms and spend a lot of time on hold, waiting to talk with some home. A tax professional can take that burden off your shoulders.

Tax Professionals Know Your Rights One of the worst parts of dealing with the IRS or State on your own is that you may not know your rights. A tax resolution specialist understands your rights, and they always have your best interest in mind. They never release too much information to the IRS, and they know how to negotiate the best deal possible on your tax debt. Tax Professionals Can Withdraw, Release, Discharge or Subordinate a Tax Lien. A tax lien hurts your credit (or a business’s) and your finances, but tax professionals know exactly how to get tax liens resolved. They can help you file the right forms and take the correct steps. That minimizes the potential damage to your credit and financial reputation.

Wednesday, October 28, 2020

Offer in Compromise

Offer in Compromise: This is a program is for struggling taxpayers who have a small likelihood of ever paying off the taxes they owe. 

tax resolution

The IRS looks at a taxpayer’s reasonable collection potential when determining whether to accept an Offer in Compromise. Under this resolution method, a taxpayer can settle their taxes for less than the total amount owed. Call 855-913-0249 for tax settlement consultation. 

Tax relief

Installment Agreement: If you can afford a monthly payment with the IRS or State, then we can set you up with a payment plan. Once you are entered into this type of agreement, you are considered to be in tax compliance and the IRS and some states will lower the failure to pay penalty by 50%. Furthermore, once you have successful made consecutive monthly payments, we may also consider for penalty abatement (discussed below). Call 855-913-0249 for tax settlement consultation. 

Tax relief

Partial Payment Installment Agreement: Allows taxpayers to pay a smaller monthly payment towards their taxes owed. Many times the statute of limitations on the debt expires before the total amount of debt is paid off. Currently Not Collectible: This puts a hold on tax collection activities. If a taxpayer does not have enough funds to make payments towards the debt the taxing authorities will wait until their financial situation improves before collecting. In many cases, the statute of limitations or the collection statute of expiration (CSED) on the tax debt expires before the taxes are fully paid off. Call 855-913-0249 for tax settlement consultation. 

Tax relief

Penalty Abatement: This option is considered in conjunction with all other resolution methods. Penalties can be removed if the taxpayer has a “reasonable cause” for not staying in compliance with the tax laws. 

Thursday, October 22, 2020

Need tax help because you owe $10,000 or more.

Tax Help refers to professional help offered by tax experts to a common man regarding the preparation, filing and subsequent payment of taxes. For any business person, taxation is a big issue he/she will come across annually, which requires filing of all his/her tax returns for the financial year. 

Mind you, any discrepancies accidental or voluntary can result in serious implications with penalties ranging from hefty fines to imprisonment. One simply cannot take a risk when it comes to filing one’s return, and given the fact not many are experts in the intricacies of taxation related issues, it is only prudent to seek the help of a tax professional or in layman terms, seek tax help. True, if the income you have is within certain limits, calculating and filing the returns may not be a difficult task. But the complexity of tax calculations increases as the income you earn also increases. 

For instance, businessmen earning millions of dollars from trading have a real task at hand when it comes to computing out the taxes due. The various taxation rates that take effect for bigger sums, coupled with the different rules of taxation for higher incomes, make the task even more complex. In such cases, it is better to seek tax help and outsource the work of filing the returns to experienced tax professionals or chartered accountants. 

Tax help can be obtained from various finance professionals in your town who exclusively deal with tax related issues. You can meet them in their office or after setting an appointment over the phone. Tax help is also available through the Internet. Through such nonlinear tax help sites mostly managed by professional financial firms associated with taxation and other finance issues one could get their taxes completed by sitting at home or with fewer meetings with the tax help guy. With some well established tax help websites, it is even possible to make the payment on-line. 

Taxation Law for Small Businesses.

Taxation Law for Small Businesses. 

Taxation law is a complex and in-depth area of concern for the small business owner.  With potential pecuniary and criminal consequences, it is of paramount importance to ensure as a business owner, you are familiar with the tax consequences in your jurisdictions, and the ways in which you can minimize your liability. Call 855-913-0249 for tax consultation.

Whilst one of the most legally important things to understand as a small business owner, taxation law also provides an excellent opportunity for saving money and increasing profitability within a small business environment.  In this article, we will look at some of the main and most common tax implications of running a small business, and some of the most effective ways of ensuring you pay less tax through your small business operation. Call 855-913-0249 for tax consultation.

Tax regimes vary from jurisdiction to jurisdiction, and the implications of running a small business also vary, both in terms of the legal and financial requirements. Having said that, there are a number of common elements that transcend jurisdiction and appear in numerous guises across various systems that can be of use to the small business owner. One of the first things to consider as a small business owner is to establish a limited liability company. The primary reason for this is that limited liability companies usually provide a more relaxed tax regime as compared to income tax liability. A sole proprietor operating out-with the parameters of a corporate entity is liable to account for profits as income, which can lead to a greater tax liability and potential individual state contributions. As a corporate entity, the owner can pay himself via share dividends, which carry a lower tax liability and thus minimizing his overall liability to tax. This is significantly better than paying oneself a wage, which bears the tax liability from both ends, i.e. the company is liable to taxation as is the employee. 

Another essential for the small business owner is what is known as capital allowance. By means of capital allowance, business owners can offset the acquisition cost of assets on a graduated scale in accordance with the specific principles of the regime in question. This is in effect a deductible expense, which ultimately minimizes yearly tax liability. There is a particular benefit in that many regimes allow an accelerated relief for business assets. This can be exploited to an extent by acquiring assets through the business, for example a car, which can also be used for personal purposes. Rather than buying a car from personal income, buying it through the company allows you to offset the amount of the expense quickly against your business profits, which ultimately reduce your liability to tax.

Before embarking on any tax reducing strategies, it is important to ensure you are acquainted with the specific laws of your jurisdiction to avoid running into trouble with the authorities. In some of Europe, for example, there is a requirement to declare any specific tax minimizing strategies to the government to allow for rectification of loopholes. It is important to ensure you are acquainted with the specific laws to avoid potential criminal liability as a consequence of ignorance. 


In some cases, you can reach a tax resolution and settle for far less than the amount you owe. This is known as an Offer in Compromise

An offer in compromise is a tax resolution settlement of a delinquent tax account for less than the original amount owed. However, you will not get such an Offer approved without specialized assistance. As per the data available, in the year 2004 only sixteen percent of Offers were accepted. 

If you are the having tax disputes with the IRS, tax professionals like experienced Enrolled Agents (EAs), Certified Public Accountant (CPAs), and tax attorneys can help you reach a tax resolution. Tax resolution encompasses a wide variety of settlements which includes IRS audits, Federal Tax Liens (IRS Liens), bank levies or wage garnishments, IRS penalty abatement, innocent spouse defense, bankruptcy discharge analysis, Offer in Compromise, un-filed or delinquent tax returns, and IRS collection statute of limitation analysis. 

Thus, it is advisable to seek services of professionals (like EAs, CPAs or tax attorneys) specializing in solving tax problems or negotiating a tax resolution. You should get in touch with these professionals if you are involved in tax disputes like un-filed tax returns, missing records, threat of tax levy, or, if you need a tax resolution like Installment Agreement or an Offer in Compromise or want to be declared Currently Not Collectible. 

For taxpayers, who are not able to reach a tax resolution immediately, an installment agreement can be a reasonable payment alternative. Installment agreements permit the full payment of the tax debt in smaller, more manageable amounts for the taxpayer. Currently Not Collectible is another tax resolution strategy, which implies that an individual has no ability to repay his or her tax debts. The IRS can affirm a person as "currently not collectible" after the IRS receives concrete substantiation that the individual has no capacity to pay. Once the IRS proclaims an individual as "currently not collectible", the IRS discontinues its recovery or collection activities, including levies and garnishments. However, the IRS sends an annual statement to that taxpayer stating the amount of tax still owed. 

While currently in not collectible status, the ten-year statute of limitations on tax debt collection remains in force. If the IRS cannot collect its tax dues within the ten-year statutory period, the tax debt expires. The IRS is perennially, under tremendous pressure to recover the billions of dollars, currently outstanding. Therefore, it will seriously consider all the reasonable offers to recover its debts and try to reach a tax resolution or close cases in all these areas.

IRS Tax Lien Help

Hiring a Tax Resolution Lawyer shows the IRS or State government you’re serious about resolving your tax debt.

Hiring a professional sends an indirect message to the IRS or state. It tells taxation authorities you are serious about resolving your tax debt.

Has the IRS or State place a tax lien on you credit report? Did you receive a Notice of Federal Tax Lien (NTFL)? Then, it is time to get help as procrastination will not fix your tax problems. A tax lien can have a devastating effect on your credit score and financial well being. Tax Professionals Help You Stay Compliant If you want help with a federal or state tax lien, start with a free consultation using the form above. We can begin the process to help you resolve your tax debt as quickly and painlessly as possible. Dealing with a federal or state tax lien can be extremely complicated if you have never handled one before. All of our partnered tax professionals are experienced with tax liens and have resolved them successfully for numerous clients. If you set up a payment plan or an offer in compromise with the IRS, you have to stay compliant with tax filing obligations for the next few years. Failing to pay or file can negate your arrangement. When you work with a tax professional, they can help you deal with your tax debt, but they can also help you prepare future returns and stay up to date with payment requirements in the future.

  • Tax Lien Relief Services Offered
  • Withdrawing IRS tax liens
  • Releasing IRS and state tax liens
  • Discharging an IRS or state Tax lien from a specific piece of property
  • Subordinating a state or IRS tax lien
  • Appealing a withdrawal, release, discharge or subordination denial
  • How the Complimentary Tax Lien Consultation Works

Tuesday, September 15, 2020

IRS Form 433-A Collection Information Statement for Wage Earners and Self-Employed Individuals

IRS Form 433-A

The IRS Form 433-A, “Collection Information Statement for Wage Earners and Self-Employed Individuals”, is a financial disclosure that all applicants for an Offer in Compromise are required to provide as part of an OIC application. 

If you are like many taxpayers that are burdened with an insufferable amount of back tax debt, you have undoubtedly heard claims of “settling your tax debt for pennies on the dollar”. Like the proverbial, used car sales man, these claims are far-fetched as best. 

This disclosure provides the IRS with an in-depth “fact” based snapshot of your financial position and ability to pay your back tax debt based on your income and wages, monthly expenses, business information, and assets, and ultimately forms the basis of whether your Offer in Compromise offer will be accepted or denied.

The information provides an outcome what the IRS calls the Reasonable Collection Potential, which is used to determine if there is sufficient income to support a monthly payment with an Installment Agreement and what assets are available to be levied.

Offer In Compromise Acceptance Rates

It’s said that approximately 20 percent of taxpayers that apply for an Offer In Compromise are ultimately approved on the basis of the information submitted on the Form 433-A. Here in lies the key point, the determination on whether your back tax debt can be settled for less than the amount owed depends on the accurate and complete presentation of “facts” on the Form 433-A. 

Wednesday, August 26, 2020

Do You Really Need A Tax Advisor?

Tax Relief, Levy Relief & Affordable Tax Solutions. 

Taxes can be quite a complicated matter. Ask any law students, and they’ll tell you that the subject “Tax” is one of their most dreaded courses. It involves numbers, and not everyone likes numbers. It involves ideologies, and every person possesses a divergent belief. 

It demands utmost diligence, and not everyone can spare such patience. But are these enough to make you decide on procuring the services of a tax advisor? 

Five steps in reducing your income tax

There are five main steps in calculating income tax.

Step 1: Add together all your yearly income, including social security benefits, income from renting out accommodation, wages, occupational pension, interest from bank and building society accounts. 

Step 2: Take off any income which is exempt from tax. Calculate whether you can claim tax relief on any of the money you have spent over the year (tax relief usually applies to people who are self-employed and must buy items for the business). Deduct this tax relief. This leaves income on which tax may be payable (taxable income). 

Step 3: Work out which tax allowances you are entitled to. You will be entitled to a personal allowance (plus age related additions if appropriate). These allowances are deducted at this stage in the calculation.

Step 4: Multiply the taxable income by the correct tax rate. This gives the tax due to be paid that year, unless you are entitled to married couple's allowance for over 65-year old.
Step 5: If applicable, deduct the appropriate percentage rate of married couple's allowance for over 65-year old.

Monday, August 24, 2020

Solving Income Tax Issues

The majority of income tax issues including unfilled returns and unpaid liabilities are best resolved using one of the following five methods: 


If your debt is very large, you can apply for an Offer in Compromise with the IRS.

Tax debt relief is opted for by people who have somehow failed to file their returns, which in result have made them liable to pay a repayment of back taxes. This is no doubt a severe and frightening state of affairs. This may occur due to various reasons

Call (855) 336-0719 for tax consultation. If your debt is very large, you can apply for an Offer in Compromise with the IRS.

 Preparing an Installment Agreement. 

 Placement into Currently Not Collectible (“CNC”) Status. 

 Preparing a Partial Pay Installment Agreement (“PPIA”). 

 Preparing an Offer in Compromise (“OIC”). 

 Filing for Bankruptcy - (under the 3-year rule, 2-year rule or 240-day rule.

Wednesday, July 22, 2020

Solve tax problems for your business.

BACK TAXES Settle Tax Debt from IRS Back Taxes. Get Tax Debt Relief. Call 855-913-0249 now for free tax relief quote. Tax Relief Center solves tax problems for businesses and individuals every day. 

Owe IRS taxes

Are you experiencing tax problems with IRS? Do you owe $10,000 or more to IRS or State on back taxes? The ideas of trying to pay off growing tax penalties, finding the missing paperwork to file your back taxes, or facing an IRS inspection can seem like too much. If you are in this situation, don't hesitate to get tax relief, turn to Tax Debt Relief Center today. Call 855-913-0249 now for free tax relief quote. We are a company which specializes in IRS and state tax problem. We have tax resolution expert that get tax relief for both individuals and businesses. We can get tax penalties reduced, file delinquent tax returns and negotiate a number of a different payment option to pay off your tax debt like an offer in a compromise or an installment agreement. 

Owe IRS taxes

Don’t try to solve tax problem on your own IRS doesn’t make solving tax problem easy for taxpayers. Dealing with the IRS is a bit stressful and confusing for a novice to handle. Stop trying to resolve these complex issues on your own. Call 855-913-0249 now for free tax relief quote.

Owe IRS taxes

Don’t be afraid of the IRS anymore. If you owe more than $1000, back taxes do not hesitate to call Tax Debt Relief professional team to stop levies, seizures, or wage garnishments and to solve your tax problem as appropriate and available for your situation. Call 855-913-0249 now for free tax relief quote.

Owe IRS taxes

Our service includes:
  • IRS audit assistance
  • Releasing tax liens and levies
  • Filing back taxes
  • Tax penalty abatement
  • Resolving payroll tax problems
  • Tax relief solution for business and individuals
  • Preparing offers in compromise.