Showing posts with label Expert tax resolution services.. Show all posts
Showing posts with label Expert tax resolution services.. Show all posts

Thursday, November 5, 2020

Owe $10,000 or more in IRS back taxes

Do you owe $10,000 or more in IRS back taxes you need a tax resolution expert on your side.

He would teach you quite a number of techniques on how to save on taxes, how to proceed with things and avoid undue tax obligations at the same time, and how to get out of tax messes which you might have gotten yourself into. 


Now this advisor won’t charge measly cents for their services, that’s a given. Theirs is a highly specialized field made more worthy by their skills. You pay for their knowledge, and their knowledge is (usually) comprehensive and even awe-inspiring at times.

But again, do you need a tax advisor? Will he say something new about your plight? How big of a help would he be? And how much would his services cost? These are perfectly valid questions you should ask yourself before accepting the necessity of hiring a tax advisor. 


* You don’t need a tax advisor if you’re expecting to deal with a projected income, where the tax burden is low and applicable reductions won’t even be noticeable.
* You don’t need a tax advisor if you’re interested with the subject yourself, and would like to learn a thing or two by reading up on some theories and applying them in the real world by practicing your own tax tips.



* You don’t need a tax advisor if you already know the ins and outs of taxation.
* You don’t need a tax advisor if you have been paying a relatively regular tax imposition for some years now, which should have given you the chance to know the ins and outs of this field. Knowing why you don’t need a tax advisor would hopefully also show you the reasons why you, indeed, may need their services some time in the future.


Wednesday, November 4, 2020

What You Need To Know When Searching For Tax Resolution

There are five basic ways to get relief from tax debt caused by back taxes owed on a tax return. 


A tax resolution can best be facilitated by an expert.  If you would hire the services of a tax attorney, you’re sure to have the best representation when it comes to these matters. A tax lawyer would inform you, quite efficiently, the remedies that you could avail of. If you’re looking for the most favorable tax resolution, then a tax attorney is the best person to consult.




People who find themselves in deep tax problems experience the same symptoms, more or less: many sleepless nights spent in anxiety with calculators at hand hoping to find some ways to get out of the mess they are forced to endure; loss of appetite caused by the stress of possible litigation; reduced budgets for even things which are considered as necessities; and depression because of the seeming hopelessness of things. 





Indeed, during these times of despair, a tax resolution is always prayed for, one which would bring an end to all these fiscal woes. But how, exactly, would you be able to achieve a favorable tax resolution? What are the options available for you?




* Lawyer, however,s can be quite expensive for even a much needed tax resolution. A good alternative would be to procure the services of a tax advisor or even a tax accountant. A tax advisor is an expert on tax matters and the complex workings of the field.  He will charge for his services, but not as much as a titled attorney. A tax accountant’s primary concern, on the other hand, is to prepare your tax forms and declarations. But this doesn’t preclude you from asking some queries about the most favorable tax resolution you could gain, given your circumstances which the tax accountant should be familiar with.


* Consult online services for prompt answers to your questions. Self-study is well and good, but if you’re looking for definitive tax resolution, you would need some inputs from professionals. There are a lot of online tax resolution services on the Internet.



The best tax resolution you would be able to employ, however, is not something post-problems. Rather, it is something you should do beforehand, and that is to exercise diligence. Through diligence in the steps you take that would affect your fiscal personality, you would be able to lower your tax liability, stop onerous garnishments and levies, and prevent the execution of liens. Practicing diligence before jumping into the waters would be the best way to avoid having to seek out a tax resolution afterwards. 


Tax debt relief

Tax debt relief

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. 


Tax debt relief

This is no doubt a severe and frightening state of affairs. This may occur due to various reasons. It might be an emergency such as individual or family illness, death in a family, change in economic condition, and lack of budgeting or lavish lifestyle. 

Tax debt relief

In these situations failure to pay the money or underpayment are the two most common things to happen. And if this thing really occurs one should fix it as early as possible that is because some forms of non-payment are liable to be punished by imprisonment for every year of taxes that has not been paid. 

Tax debt relief

Tax debt relief is the best solution that one can go for if he or she has failed to pay the taxes in time. There are several tax debt relief agencies that offers tax settlement plans so that their clients may come out of their debt quickly. They have specialized professionals who work round the clock to help out their clients. Government also on the other hand has many provisions for the people who have their taxes due. An underpayment is easier to pay back than the person who has just refused to pay the money. With the help of a professional mediator one can reduce his or her payable amount to a smaller fee, which will enable the government to get back a portion of the money that is owed.




Tax debt relief

Tax debt relief may often call for legal proceeding that is why a proficient lawyer who is qualified in this field is indispensable. The professional attorney can help to get the relief without imprisonment. Whatever the reasons be, taxes due are always offensive in the eyes of law. The tax collectors in the first hand send legal notifications which if not answered leads to the prosecution and the professionals best handle these situations.


Tax debt relief


Conditions that lead to inescapable delinquency are always unacceptable but not beyond negotiation which can be done with the help of a professional tax debt relief help. A proper Tax debt relief program provides quite a few pertinent assistance such as embellished salary, bank charges, bankruptcy among other circumstances. A responsible citizen should never ignore to pay tax. Even if he or she failed in first position, a solution should be tried to find out and the amount should be paid back. The person who has failed to pay his or her tax for the first time shall also have to plan certain things for future so that it might not happen again. A tax debt relief might work first time but it should be kept in mind that government is always willing to help people but those who commit the same mistakes again and again shall be considered irresponsible and be put on trial. That is why it is always advised to have a certified help plan for the future payments. 


Tax debt relief

TAX RESOLUTION SERVICES

offers in compromise tax liability

TAX RESOLUTION SERVICES


Offer in Compromise (OIC) 

An OIC is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed. The OIC is a great program for the right candidate. Our experienced staff of tax professionals will gladly discuss all the options you may qualify for. The IRS may consider an OIC based on three grounds:

Tax Offers In Compromise

1. Doubt as to Collect-ability – Doubt exists that the taxpayer could ever pay the full amount of tax liability. 
2. Doubt as to Liability - A legitimate doubt exists that the assessed tax liability is correct. 
3. Effective Tax Administration – There is potential for the IRS to collect the full amount. However, an exceptional circumstance exists that would cause the taxpayer to suffer economic hardship or be unfair and inequitable.


Installment Agreements
There are a variety of installment agreements available that when properly implemented will allow you to repay your tax liability in a comfortable and manageable way. When it comes to installment agreements, having an attorney on your side that knows your rights will ensure you receive the best possible terms from the IRS or State Tax Agencies.


Tax Resolution

Tax Return Preparation 
The value of having an attorney review and prepare your tax returns could mean hundreds or even thousands of additional dollars in your pocket. Our attorneys are experts in preparing personal and business tax returns. We even pull your master file directly from the IRS database and verify exactly what has been reported as income. Having your tax returns properly prepared is the first step to resolving your tax issues.

Tax Resolution

Penalty Abatement 
Penalties can increase your tax liability by thousands of dollars. Many taxpayers may qualify for penalty relief. This service requires an understanding of what the IRS will accept as a reasonable cause for the failure to file or pay. If you have reasonable cause it must then be presented in a well documented format to the IRS for consideration. As experts we will evaluate, prepare and submit all the required information to ensure the largest possible reduction in accrued penalties.

Tax Relief

Innocent Spouse
Innocent Spouse can release your responsibility for paying tax, interest, and penalties if your spouse (or former spouse) improperly reported items or omitted items on your tax return. The tax laws and process to file for this relief can be complicated and should be addressed by an experienced tax professional. Our attorneys will prepare and submit all the required documents ensuring the best possible outcome. In addition to Innocent Spouse there are several other options that you may qualify for to provide the needed relief.


Additional Services 
Tax resolution experts provides many additional services to resolve any tax issue you may have. Contact our tax professionals today for a free consultation and take the first step to getting your tax issues properly resolved.



Thursday, October 22, 2020

Tax Resolution Lawyers in Chicago, IL

“People who complain about taxes can be divided into two classes: men and women”. If you are the complainant 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.




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 Internal Revenue Service 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.



Internal Revenue Service tax issues can be resolved even if you owe hefty sums, and even if you haven't filed your taxes in years. If the problem is blown out of proportion, the IRS may file a federal tax lien, levy your bank account and wages, confiscate and sell your car, home or business. Reaching a tax resolution with the IRS can avert such catastrophic consequences. 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 actually accepted. 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 returns, missing records, threat of levy, or, if you need a tax resolution like Installment Agreement or an Offer in Compromise, or want to be declared Currently Not Collectible.



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.

Tax Relief Lawyer

​Do You Really Need A  tax lawyer?

Taxes can be quite a complicated matter. 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 advisory?



A tax adviser is basically a consultant. He would teach you quite several techniques on how to save on taxes, how to proceed with things and avoid undue tax obligations at the same time, and how to get out of tax messes which you might have gotten yourself into. Now this adviser won’t charge measly cents for their services, that’s a given. 






Theirs is a highly specialized field made worthier by their skills. You pay for their knowledge, and their knowledge is (usually) comprehensive and even awe-inspiring at times. But again, do you need a tax advisory? Will he say something new about your plight? How big of a help would he be? And how much would his services cost? 





These are perfectly valid questions you should ask yourself before accepting the necessity of hiring a tax adviser. In this article, we will discuss instead why you don’t need a tax adviser. Hopefully, you’d remember that there are always two sides to a coin, and though we will be presenting one side in this piece, the other should likewise be apparent as it is just the opposite of the things we will mention here. Ready? * You don’t need a tax adviser if you’re expecting to deal with a projected income, where the tax burden is low and applicable reductions won’t even be noticeable.


* You don’t need a tax adviser if you’re interested with the subject yourself and would like to learn a thing or two by reading up on some theories and applying them in the real world by practicing your own tax tips. 


* You don’t need a tax adviser if you already know the ins and outs of taxation. You don’t need a tax adviser if you have been paying a relatively regular tax imposition for some years now, which should have given you the chance to know the ins and outs of this field.


Tuesday, September 22, 2020

Tax Lawyers in Chicago Illinois.

Looking for a tax attorney


The tax relief maze is complicated and difficult to maneuver, which is often difficult for taxpayers. Tax Resolution Xperts represents individuals and businesses before the IRS and the Illinois Department of Revenue. Our experienced team of tax lawyers assist clients with unfilled tax returns and all types of unpaid tax liabilities and penalties.



Release of Wage or Bank Levies

A wage or bank levy can leave you financially devastated if you do not take immediate action. Whether you have received a Notice of Intent to Levy or you are currently under a wage levy or bank levy, IRS Tax Resolution Experts can help. Tax Resolution Experts has obtained the release of thousands of wage and bank levies for their clients, helping solve their tax problems and financial woes. 

Installment Agreements & IRS Fresh Start Program


If you live in Chicago IL and owe money to the IRS, but cannot pay it all right away, tax resolution experts can determine if an installment agreement is right for you. An installment agreement allows a taxpayer to pay his or her liability over time in convenient monthly payments. There are new exciting programs under the IRS Fresh Start Program that offer different types of installment agreements that might work for your personal situation. Let Tax resolution experts help you negotiate the most affordable payment plan. 

IRS Offer in Compromise


With an Offer in Compromise, sometimes you only pay “pennies on the dollar” on your tax debt. Not all taxpayers are eligible, but an Offer in Compromise will allow you to pay less than what you actually owe. Tax resolution experts perform a thorough financial analysis to determine your eligibility for an Offer in Compromise and will then negotiate with the IRS on your behalf. 

Wednesday, September 16, 2020

Find a tax adviser near you.

Tax Resolution

The tax advisers help can be sought by meeting them in person or through phone conversations. 


Tax Resolution

Usually, your city won’t have a dearth of this professional classification. Knowing why you don’t need a tax adviser would hopefully also show you the reasons why you, indeed, may need their services sometime in the future. 


Tax Resolution


Usually, your city won’t have a dearth of this professional classification. Knowing why you don’t need a tax adviser would hopefully also show you the reasons why you, indeed, may need their services sometime in the future. 





Internal Revenue Service tax issues can be resolved even if you owe hefty sums, and even if you haven't filed your taxes in years. If the problem is blown out of proportion, the IRS may file a federal tax lien, levy your bank account and wages, confiscate and sell your car, home or business. Reaching a tax resolution with the IRS can avert such catastrophic consequences. 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 actually accepted. 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 returns, missing records, threat of levy, or, if you need a tax resolution like Installment Agreement or an Offer in Compromise, or want to be declared Currently Not Collectible.Call 866-218-5924 right now for free consultation.



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 Internal Revenue Service 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. 



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. 

Tuesday, September 15, 2020

Small business accounting practices.

Practically every small business has receivables that it cannot obtain from clients. If your small business doesn't have any such receivables, consider yourself lucky. 




For those small businesses that suffer from uncollected receivables, solace can be taken from the fact you can claim a tax deduction. 





Bad Debt Tax Deduction: A small business can write-off bad debt losses if it meets nominal requirements. To claim such a tax deduction, the following must be shown: 


A. The existence of a legal relationship between the small business and debtor;






B. The receivables are worthless; and


C. The small business suffered an actual loss.
Proving there is a legal relationship between the small business and debtor is fairly simple. You must simply show that the debtor has a legal obligation to make a payment. Most businesses issue invoices or sign contracts with debtors and these documents suffice to prove the legal relationship. If you are not putting your business relationships in writing, you should begin doing so immediately.





Proving receivables are worthless is slightly more complex. A small business is required to show that the debt has become both worthless and will remain so. You must also show that you took reasonable steps to collect the receivables, but you are not necessarily required to go to court to meet this requirement. A clear example where you would meet this requirement is if the debtor filed bankruptcy. While proving that you suffered a loss may sound like the easiest requirement to meet, the issue is a bit more complicated. The Tax Code defines the loss as an amount that is included in your books as income, but is never collected. A classic example of such a situation would be a manufacturer that provides products to retailers on credit. The manufacturer can show a real loss if the retailer files bankruptcy. Unfortunately, there is almost no way to claim a loss if you provide hourly services and use a cash accounting method. The IRS does not consider the expenditure of time and effort to be a sustained economic loss. Small businesses suffer all to often from uncollected receivables. If you failed to claim such losses as a tax deduction during your last three tax filing years, you should file amended tax returns to get a refund.