IRS Tax Relief
IRS Back Tax Services
Tax Settlement - Offer in Compromise
As we all know, the role of the Internal Revenue Service (IRS) is to collect back taxes. However, in certain instances taxpayers are unable to pay their back taxes due to their financial situation. To resolve these outstanding accounts the IRS has established a program called the Offer in Compromise to free taxpayers from their tax debt and to give them a fresh start. The Offer in Compromise is a settlement based generally on a taxpayer's disposable income and equtiy in assets. Thus, to qualify an individual should have little to no disposable income and equity in assets. To see if you satisfy these preliminary requirements a tax settlement contact us today for a free and confidential tax analysis.
IRS Bank Levy
One practice the IRS uses to collect back taxes is through Bank Levies. When a levy is issued time is of the essence to negotiate its release. Our firm has knowledgeable and exprienced tax attorneys that know how to agressively contact the IRS to negotiate the release of a bank levy. Howver, a taxpayer's best recourse is to avoid a bank levy all together by resovling their account before the IRS issues the levy. Contact us today to learn your options for resovling your account.
IRS Wage Garnishment
Another form of collections used by the IRS is through Wage Garnishments. The IRS has very broad and extensive collection powers to collect back taxes. Deliquent taxpayers are at risk of the IRS garnishing their wages when their account has a balance owing and is not addressed. The worse thing a taxpayer can do is to ignore the problem and to think that they can hide from the IRS. Let our firm proactively plan a means of resolving your back taxes and call us today for a free case evaluation.
IRS Currently Not Collectible
If you do not qualify for an Offer in Compromise, another alternative may be a Currently Not Collectible status for your account. Generally, if you do not have the ability to pay your taxes in full, do not have disposable income left over each month, and possess only assets that you are depedent upon for your livlihood, such as cars, furniture, or business equipment, then you may qualify for a Currently Not Collectible status.
IRS Installment Agreement
An Installment Agreement is a formalized payment arrangement with the IRS to pay back your taxes over time. While an Installment Agreement is in place the IRS stops collection activity against the taxpayer, minimizing the risk of a Wage Garnishment or Bank Levy.
IRS Payroll Taxes
Managing a business can be a difficult task. Business owners not only have to focus on delievring a good or service to their customers, but they have to worry about their expenses and employees. On occassion, business owners fall behind in making their tax deposits and fail to file their 940 and 941 tax returns. Our firm is experienced with assiting business owners become compliant with their Payroll Accounts.
Tax Transcript Review
Many people are surprised to learn that the IRS does not have an indefinite amount of time to collect deliquent taxes. Generally, the IRS only has 10 years from the date the taxes are assessed to a taxpayer's account to collect the taxes. If you owe the IRS back taxes for older years and need to know when your older taxes will expire our firm can perform a Tax Transcript Review. As part of this service, we review your tax transcripts to determine whether you are compliant with your tax filings, what tax years have an account balance, the dollar amount owed for each year, a break down of the amount owed for interest and penalties, and when the taxes will expire.
To learn more about the services offered by Flahive Law Corporation Contact Us online or call us at (800) 250-5971.
