Tax Services
Tax Preparation
Tax laws change all the time. If you do not know the current tax law regulations, you are either paying too much for taxes or you might be breaking the law. Ignorance of the law is no excuse.
Allow a tax professional who understands the best way to help you save on taxes. Our assistance does not end at the conclusion of your tax filing. We will strategically plan throughout the year, and not for just big deadlines.
Tax Planning
Planning should be done at least 9 months before taxes are due. It is quite impossible to put all the scenarios, advantages, and disadvantages specially for those in small or medium size businesses for both personal and business taxes. We go beyond reducing your tax liability and compliance that will keep you away from trouble. It takes careful planning and legitimate tax strategies to help you save time and money. We regularly communicate with you and return your calls quickly.
Tax Problems
IRS problems will not go away by themselves; they only get worse as penalties and interest grow each day. We can help resolve common IRS problems taxpayers face by creating a strategy to directly address tax issues and put an end to the misery.
Get Your IRS File
Most people are not aware that they can obtain a copy of their IRS file – or how much the IRS knows about them. That IRS file is critical to analyzing the options available for resolving tax problems. Having a professional who understands the best way to request copies of an IRS file without raising any red flags is the best solution and then they can interpret the information it contains.
IRS Wage Garnishment
If back taxes and penalties continue to accrue, it is only a matter of time before the IRS sends a notice of “intent to Levy.” If left unanswered, 30 days later the IRS will garnish wages to recover the money owed. This can be a painful process. In fact, the IRS deductions can be so substantial that it does not leave enough for rent, groceries, or other bills – and this wage garnishment will continue every pay day until the amount of back taxes, late fees, and penalties is paid in full.
Appealing to your employer will not be effective. Once a wage garnishment is filed with an employer, they are required by law to collect the amount required from each paycheck and send it to the IRS.
We can arrange a payment plan and negotiate the release of IRS wage garnishments. Payment plans we negotiate are always more favorable than any IRS wage garnishment, and it allows you
to receive your whole paycheck without fears of future wage garnishments.
Offer In Compromise
Tax debt can often be settled with the IRS for just pennies on the dollar with their Offer in Compromise program. The program allows taxpayers to work with the IRS on tax debt that has been incorrectly assessed or for liabilities they cannot afford to pay.
The IRS Code states: “We will accept an Offer in Compromise when it is unlikely that we can collect the full amount owed and the amount you offer reasonably reflects the collection potential…” (Internal Revenue Code section 7122).
Often it is possible to eliminate the taxes owed – including all penalties and interest – at an enormous discount. There is no preset bottom limit that the IRS will accept to settle your debt, especially if the offer is made “right.”
If done correctly, the debt may be settled for only 5-15% of what was originally owed. The key is to determine the least amount that the IRS will accept before you make the offer. That is where our years of expertise in helping clients with tax problems is vitally important.
IRS Levies
Levies can do a lot of damage. A levy is the IRS’s way of getting your immediate attention. They are typically used when someone ignores IRS notifications of unfiled taxes or taxes owed. Levies are used to seize wages and other assets. That includes checking accounts, autos, stocks, bonds, boats, paychecks, and even Social Security checks.
Imagine waking up one morning to empty bank accounts. The IRS can take every dime. If this amount does not cover what is owed, they will keep taking your money until the tax liability is appeased. They know that levying your bank account will cause checks to bounce, alerting creditors to your financial problems. The IRS does not care. Their sole objective is to collect the taxes owed.
As bad as that is, a worse method is a wage levy or garnishment. This can be devastating because the IRS is not required to leave enough money for living expenses. The garnishment will continue until the debt is paid in full.
If that does not satisfy the tax debit, the IRS will try hard. They will seize assets and sell them at auction, including homes, cars, boats, jewelry, motorcycles, insurance policies, retirement funds – anything of value.
We can often get those levies released and help eliminate this terrible situation. Our goal is to resolve the IRS debt in an affordable way and provide a fresh start.
IRS Payment Plan
If you do not qualify for the IRS Offer in Compromise program, a Payment Plan may be the only option. Setting up a payment plan with the IRS provides more time to pay off tax debts and prevents wage garnishment.
Unfortunately, penalties and interest will continue to be charged on the outstanding balance during the repayment process. The law requires that interest on your tax debt be paid.
Innocent Spouse Relief
This is a relief from additional tax you owe if your spouse or former spouse failed to report income, reported income improperly or claimed improper deductions or credits. Innocent Spouse Relief was designed to alleviate unjust situations where one spouse was clearly the victim of fraud perpetrated by their spouse or ex-spouse.
If you qualify for Innocent Spouse Relief, you may not owe any tax. Please complete the Free Consultation form on the bottom of this page.