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TAX RESOLUTION

TAX RESOLUTION

TAX RESOLUTION

Back taxes owed

If you have not paid your taxes for a few years, the penalties and interest that are added can be very costly. The IRS may place a lien on your property or levy your bank account or wages if you do not take action. Back taxes can create a lot of financial problems, but there are ways to get help. We can assess your tax debt options and work with the IRS to create a payment plan That is manageable for you.

IRS audits

When it comes to the IRS, audits are always a dreaded topic. No one wants to face the daunting task of dealing with the tax authority, especially if they believe they may be in the wrong.

But for business owners, an IRS audit can be even more frightening. Not only is it a complex and time-consuming process, but the stakes are high. A single mistake can lead to hefty fines and even jail time.

That’s why it’s crucial to have a strong team of professionals on your side when dealing with the IRS. At our firm, we have years of experience in dealing with tax matters and IRS audit procedures. We’ll work tirelessly to make sure.

Injured Spouse

Mary had always been a responsible person. She paid her taxes on time, never missed a student loan payment, and always put her children first. So when she got married, she was excited to file her taxes jointly with her new husband.

However, Mary soon learned that her husband was not as responsible as she was. He didn’t pay his taxes on time, missed several student loan payments, and was often absent from their family. The final straw came when Mary discovered that her husband had racked up a large amount of debt that the IRS was using to offset her tax refund.

Mary was devastated. She had always been an honest person and felt like she was being punished for her husband’s mistakes. She contacted a Tax Expert to see if she could get relief from the IRS, and thankfully she qualified for Injured Spouse Relief. This allowed her to receive her portion of the tax refund despite her husband’s debt.

Although it was a difficult experience, Mary was grateful to have received the help she needed from the IRS. She vowed to be more careful with who she married in the future!

Innocent spouse Relief

Innocent spouse relief is a tax provision that allows taxpayers to be relieved of responsibility for certain tax liabilities incurred by their spouse. To qualify for innocent spouse relief, the taxpayer must show that they were not aware of and did not participate in their spouse’s tax evasion activities

Tax Evasion or Fax Avoidance.

Tax evasion is a deliberate act of not paying taxes that are owed. Tax avoidance, on the other hand, is the legal use of loopholes in the tax code to pay less taxes than you owe. Many people believe that tax avoidance is unethical, because it means that some people are able to pay less taxes than others. However, others believe that tax avoidance is a smart way to manage your finances and reduce your overall tax bill.The line between tax evasion and tax avoidance can some times be very thin. If you need help in this area, feel free to contact on of the experts at A Tax Defens and Accounting.

Payroll Taxes Owed

If you’re a small business owner who has fallen behind on your payroll taxes, you’re certainly not alone. However, that doesn’t mean you can just ignore the problem and hope it will go away. The IRS is well aware of the fact that many small businesses struggle to stay in compliance with payroll tax regulations, and they are known to take a hard line against businesses that fall behind.

So what happens if the IRS decides your business has violated payroll tax rules? Well, they may come after your personal bank accounts and assets – even if your business files for bankruptcy protection. That’s why it’s so important to seek help from an experienced tax professional if you’ve received any correspondence from the IRS about payroll issues. Our team can help you resolve your tax problems quickly and efficiently so you can get back to running your business.

Penalty/Interest Abatement

Are you struggling to pay your taxes because of added penalties and interest? Do you feel like you’re at a dead end? You may be eligible for penalty and interest abatement.

The IRS may waive certain penalties if there is reasonable cause and the failure was not due to willful neglect. This can be a great help if you are struggling to pay your taxes, as it can reduce your total tax liability.

There are several things that the IRS takes into consideration when determining whether or not to waive a penalty. These include:

  • The nature of the mistake or omission
  • The taxpayer’s history of compliance
  • The facts and circumstances surrounding the situation
  • The corrective action taken by the taxpayer

In general, the IRS does not revoke interest charges. However, there are some exceptions where they do suspend interest charges. This is usually done when the IRS has made an error.

If you are struggling with unpaid taxes and additional penalties and interest, don’t give up! There may be help available. Contact an experienced tax attorney to find out if you are eligible for penalty and interest abatement.

The Statute of Limitations

When it comes to tax-related matters, the Statute of Limitations is one of the most important concepts to understand. This statute dictates the amount of time allocated for certain actions, such as audits or collections. In general, the IRS has three years to audit your tax return or send you a refund, but they have ten years to collect after a tax has been assessed. There are some exceptions to this rule, and it’s important to know what they are.

Applying for certain payment arrangements will suspend the ten-year time frame while those arrangements are pending, but add extra time to the statute of limitations for your case once the suspension period is over. Knowing when the Statute of Limitations expires is just as important as knowing what to do with that information. If you need help making decisions about your taxes, our team at A Tax Defense and Accounting can assist you.

Unfiled Returns

When it comes to tax time, many people put off filing their returns until the last minute. This can be a big mistake, as there are often penalties and interest fees associated with filing late. But what if you haven’t filed at all? If you have neglected to file a tax return from a previous year or years, you should do so immediately–even if you think you can’t pay. The penalties and interest you may face for not filing a return are often much worse than if you file but do not pay in full. In other words, you have nothing to gain by not filing tax returns except hefty fines and possible jail time. If you’re worried about being able to afford to pay your taxes, don’t worry – we can help. We have the expertise you need to straighten out your misunderstanding with the IRS. Once we have filed your missing returns, we can help you work out a payment plan or an Offer in Compromise. Please note that the IRS will not accept any payment arrangement or revoke a lien or levy until all delinquent tax returns are filed.
Contact us today tole learn more about filing your overdue tax return and get back on track with the IRS.
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