Sunday, January 17, 2010

IRS Help: Resolve Tax Problems and Back Taxes


What is the benefit of getting expert IRS help with my tax problems?

While taxpayers may always represent themselves before the IRS, many taxpayers find dealing with the IRS frustrating, time-consuming, intimidating or all of the above and so they make the decision to hire professional tax help (specialized attorney, tax resolution firm, etc.) to negotiate with the IRS on their behalf.

Our tax relief strategies can help you permanently resolve your back taxes and IRS problems.

The Offer in Compromise program provides taxpayers who owe the IRS more than they could ever afford to pay, the opportunity to pay a small amount as a full and final payment. If you qualify for the Offer in Compromise program, you can save thousands of dollars in taxes, penalties and interest.

If the IRS levies your wages, salary, or federal payments, the levy will end when the levy is released, your tax debt has been fully paid off, or the time expires for legally collecting the tax. If you cannot afford to pay your taxes, arrangements must be made to settle your dept to release or modify the garnishment.

Regardless of what you have heard, you have the right to file your original tax return, no matter how late it's filed. The act of not filing can lead to more significant problems with the passing of time, and the IRS will not entertain any type of tax settlement or payment plan to settle your tax debt until all legally required tax returns are filed by the taxpayer.

If you think you are a victim of a fraudulent investment scheme ("Ponzi" Scheme), where you have lost all or most of your investment, you may be eligible to take advantage the United States Tax Code (law) to recoup 30% to 40% of your losses. This highly technical and complex process can help you reduce taxes paid in previous years resulting in refund with interest.

An Installment Agreement (also known as an IRS Payment Plan) is an arrangement whereby the government allows a taxpayer to pay liabilities over time. Whether the IRS is demanding full payment up-front or a payment plan that is substantially higher than what you can afford to pay, we can negotiate to set up an arrangement for the lowest possible monthly payment and also provide you with various options for making those payments.

If you have undeclared funds in foreign bank accounts, now is the time to act in order to reduce your chances of criminal prosecution, minimize severe IRS penalties and work out a structured IRS payment plan. If you believe that you owe back taxes on your foreign accounts, you need to be proactive about disclosing your foreign funds and obtaining FBAR compliance.

The IRS can issue a bank levy to take your cash in savings and checking accounts to collect back taxes. When the IRS levies a bank account, the bank is required to remove whatever amount is available in your account that day (up to the amount of the IRS levy ) and send it to the IRS in 21 days unless notified otherwise by the IRS. Part of the process of resolving your IRS debt is obtain a release of the levy from the IRS.

A tax lien is merely a statement alleging that you owe a tax debt. It is legally created anytime you owe back taxes. It can show up on your credit report, and if the IRS locates property you own, it can be filed against the property. Because tax liens are public records they show up on your credit report, often making it difficult or impossible for a taxpayer to obtain financing on an automobile or a home. ? so it is critical to resolve any federal tax lien issues once and for all.

Tax debt may be eligible for discharge in bankruptcy. However, bankruptcy does not always remove all tax liabilities as not all IRS taxes, penalties and interest qualify for complete 100% discharge. In order for a taxpayer to benefit from bankruptcy laws, it is important to get expert tax help to determine whether or not your tax liabilities are eligible for discharge.

Citizens have the right to see governmental documents, including their IRS files. Freedom of Information documents can help the taxpayer better understand their IRS problems as it discloses the IRS information used to assess back taxes, penalties and interest against the taxpayer. Any taxpayer having difficulty in sorting out what the IRS is doing to them should consider using the Freedom of Information Act to obtain their IRS files.

A taxpayer fan file a collection appeal to stop an IRS levy, lien, seizure or the denial or termination of an installment agreement. The collection appeal gives the taxpayer the opportunity to explain how they think the situation could be solved without the IRS levy or seizure.

If you owe delinquent payroll taxes, it is important to know that the IRS assigns a higher priority to collecting employment taxes than income taxes. Delinquent payroll taxes will not only generate huge IRS penalties and debt, but may also be considered a federal crime. It is important to resolve payroll tax debt problems swiftly to protect the future of your company.

Abatement of IRS penalties results in a partial or complete cancellation of back taxes, penalties or interest owed by a taxpayer. If your penalty is abated, the IRS will completely or partially remove or forgive the penalty. In many cases where a taxpayer requests abatement, the IRS removes 100% of the penalty. The best thing you can do is get expert tax help to request that the IRS abate your penalties by providing the circumstances surrounding your situation.

A tax audit is an examination of the tax return you filed with the IRS. Going to an audit on your own, without professional expert representation on your side, is like a boxer going into a fight without boxing gloves. The IRS selects returns for audit that have the greatest potential for additional tax to be collected, which can cost you thousand in back taxes, penalties and interest. So it's important to hire an expert attorney, CPA or tax resolution specialist who will vigorously and objectively defend your rights

If you do not agree with an IRS decision, you can file a request for an appeal. IRS audits/examination determinations, offers in compromise settlements, installment payment plans, requests for penalty removal, innocent spouse decisions, levies, liens, seizures and just about every type of intrusive action taken by the IRS can be appealed. The taxpayer must file an Appeals request within a certain legal time frame and follow the IRS guidelines for an Appeal request to be valid.

Taxpayers that are being subjected to IRS problems because of their spouse's (or ex-spouses) actions can obtain tax relief by qualifying as an innocent spouse. This means that if a taxpayer can prove they fit in IRS has guidelines for innocent spouse tax relief, they may not be subject to the taxes caused by their spouses or ex-spouses.

The IRS has 10 years from the date of assessment (usually close to the filing date) to collect all taxes, penalties and interest from the taxpayer. An expert attorney, tax CPA or tax resolution specialist can help resolve your back taxes and IRS problems by just by advising and strategizing with your to wait out the 10 year expiration date.

*Estimates based on prior results; individual results will vary based on circumstances, including your ability to provide Tax Defense Partners, with information that is accurate and timely. Resolution/settlement percentages exclude our fees. We do not guarantee that your tax liability will be lowered by a specific amount or percentage or that your tax liability will be paid off within a specific period of time. We do not assume any tax liability, make monthly payments to the IRS/State on your behalf or provide tax planning, bankruptcy, accounting or legal advice. Read and understand all service offerings prior to retaining TDP, including potential adverse impact on credit rating. Tax Defense Partners. will offer possible solutions to a prospective client following the information gathered during the initial consultation. While solutions will be offered to client, there is no guarantee of results implied or otherwise.

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