Thursday, November 5, 2020
Avoid any further tax trouble, additional penalties, interest or late fees and take the first step in resolving your federal tax or state tax problems today.provide assistance to resolve your tax debt, delinquent tax problems, tax disputes and IRS back taxes.
Our team of tax consultants, tax attorneys, enrolled agents, and CPAs are considered the most effective tax resolution company in America. team is exceptional at dealing with the IRS, reducing tax debt, eliminating tax disputes, negotiating IRS payments.
Installment Agreements, Offer in Compromise, Penalty Abatement, IRS Tax Payment Plans, and Audit Representation to name a few.
We can help protect your income, negotiate a reasonable IRS payment plan or settlement and provide you freedom from the IRS.
Thursday, October 22, 2020
2. Discovery - Investigate: Your tax resolution consultant will immediately get the details of your tax history from the IRS. We will discover your precise tax debt condition by adding this tax history to the information which you already presented to us. We then begin to lay the groundwork for your client-centered solution.
3. Tax resolution Implementation: We examine various resolution alternatives for their possible inclusion in the overall plan and select several that roughly fit your tax debt condition. We blend parts of various solutions into the working tax resolution plan for your case. At this point we also make sure that you are current with your filing of tax returns.
4. Negotiation with IRS: We present your proposed tax resolution plan to the IRS. We check the progress of this plan throughout. Usually, the IRS will seek added information.
5. Tax Settlement: The final resolution will usually settle most tax debts for a fraction. If the final resolution is unsatisfactory, we will advise you of alternatives.
Wednesday, September 16, 2020
Owe $10,000 or more in IRS tax debt? 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.
X-pert Tax Resolution solves tax problems for businesses and individuals everyday.
Do you owe tax debt from IRS, Tax Resolution X-perts can assist you in settling your tax debt for a fraction of the owed amount. Call 855-913-0249 to speak with a CPA about your tax problem.
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.
Are you experiencing tax problems with IRS? Do you owe $1000 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 Resolution X-perts today. 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.
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.
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.
Tuesday, September 15, 2020
Save On Taxes: Buy A Hybrid Car
The hybrid vehicles are significant in saving the tax payer from paying a big amount of tax.
Those who are benefited by the purchase of the hybrid vehicles are dejected on the very mention of the possibility that the government at some point of time might restrict the launch of these vehicles in the market.
The government of many developed nations have many a times made plans to prohibit the large-scale production of these vehicles and also to substitute the already on the run vehicles based on gasoline. However, in the recent times, the government of these countries has lent its support to the production and use of these vehicles. This decision is since the hybrid tax credit has shown its potential in saving the money. The tax creditor, as it is available straightforward from the money to be paid as tax, is greater to a tax deduction. The tax deduction is of the nature that it decreases the tax reliability on the rate of the tax to be paid. That is why the hybrid tax credit is of such great significance for the taxpaying person. A deduction simply reduces the tax liability based on the tax rate of the individual taxpayer to owe a hybrid vehicle. The fact could not be denied that the hybrid vehicle saves a great amount as it has superior gas mileage.
This type of tax credit can’t be applied for buying a second-hand vehicle. It is the responsibility of the manufacturers of the vehicles to provide the information about the credit amount to be put on it and this information is available to the buyers at the time of purchase of the vehicle that assists him to allege the credit. There are several conditions applied on the hybrid vehicles. Firstly, there was a time limit and this tax credit was made applicable for the vehicles available in the market within this limit. Secondly, it was mandatory to use the vehicle in USA only. Moreover, the credit started only after a model achieved the target of 60,000 sales.
According to the IRS, an Enrolled Agent is a professional who is “recognized to practice before the IRS.” What this means is that an Enrolled Agent is a professional of whom the IRS is satisfied that he or she is trained to handle all tax related issues on behalf of taxpayers.
An Enrolled Agent undergoes comprehensive training and testing in U.S. taxes. What are the qualifications of an enrolled tax agent? To qualify as an Enrolled Agent, one first needs to pass a professional exam on taxes.
The Enrolled Agent test is in three parts. The test examines the candidates’ knowledge of various IRS procedures and rules, tax return forms, and the various deductions, credits, and entries. Former IRS agents and workers are provided various exemptions from this test. Upon passing the test, a candidate applies to the IRS to get an Enrolled Agent’s license. Before approving the application, the IRS performs a background check to confirm that the applicant does not have a felony charge and does not have issues of professional misconduct. The applicant also needs to be updated with their personal taxes.
Once the IRS approves an applicant, the applicant is licensed to operate as an Enrolled Agents for 3 years. Within this time, the agent is also required to undertake a 72 hours continuous training to keep them up to date with all tax issues. Failure to meet these training requirements will have the agent lose his or her license after the 3 year term. The training and examination of Enrolled Tax Agents is much more comprehensive than that of “non professional” tax preparers. Tax preparers who are not attorneys, CPAs, or Enrolled Agents only undertake one exam on 1040 tax returns and are only required to have an annual continuous training of 15 hours to keep their licenses. What Can an Enrolled Tax Agent Handle? The training of Enrolled Agents enables them to provide various services including but not limited to the following:
Starting 2011, the IRS requires tax preparers to undergo testing, annual training and meet other requirements to keep their practicing license. However, for CPAs, attorneys, and Enrolled Agents, the IRS does not have such strict requirements, as it believes that these professionals are well trained to handle any tax issues. Most taxpayers know and understand the CPA (accountant) profession and attorneys. However, there are few taxpayers who understand the profession of Enrolled Agent. This article seeks to shed more light on these professionals.