IRS Problem Resolution
Free Initial Consultation
What we offer:
- Settle Back Tax Debt
- Lifting IRS Wage & Bank Levies
- Offer In Compromise
- Stop IRS Tax Liens
- IRS Audits
- Innocent Spouse
- Offshore Bank Accounts
- Payroll Tax Problems (941)
- . . .and more!
Letters and calls from the IRS:
The IRS is a prolific user of the postal system. We ALWAYS recommend that you forward a copy to our office for review. You can fax to us at (435) 215-2043, e-mail it to scott@taxcompany.com or just drop by our office in person.
The IRS is the world's largest collection agency. They will ask the taxpayer for employment, bank accounts, and any assets they can possibly garnish. They will note down all conversations with the taxpayers for future use by other agents. One of the main reasons to hire The Tax Company is for the experience they bring in dealing with the IRS. We can take care of all communications with the IRS so you do not have to deal with the phone calls and letters.
IRS Audits:
What should I do if I'm audited?
Every American Taxpayer is protected by the Taxpayer Bill of Rights which limits the ability of the IRS to deprive you of your property without “due process.” One of those fundamental rights is the right to representation by a competent tax professional. Our firm has some of the most qualified representatives anywhere standing ready to assist you in the event of an audit. Remember that the attorney who represents himself has a fool for a client. – For more info, see the complete Taxpayer Bill of Rights at the IRS website.
What if I owe taxes, but cannot afford to pay?
There are many options available when you owe the IRS and you will probably find that they are surprisingly willing to work with you. The most common thing we suggest is an Installment Agreement, where you make monthly payments to either the IRS or the State. Another option we might consider is an Offer in Compromise. This is where the IRS settles for pennies on the dollar dependent on your current financial circumstances. There are limits and hazards with both of these programs, so it's best to call us before setting either one up.
Unfiled Tax Returns:
Before the IRS will accept any negotiations to solve your tax liability you will need to be in compliance file all tax returns. Tax Returns up to ten years ago may need to be prepared and filed with the IRS.
If you're among the many Americans who have not filed your tax returns because you don't have the funds to pay the taxes owed or for other reasons, the IRS will often file a "SFR" (Substitute for Return) on your behalf. This is the IRS's version of an unfiled tax return. The IRS prepares these “substitute” returns with only standard deductions and one exemption. You will not get credit for deductions such as a spouse, children, interest and taxes on your home, cost of any stock or real estate sales, and business expenses, etc. This results in the IRS overstating what taxes you owe and, consequently, what you owe in penalties and interest.
The Tax Company can get past wage information from IRS records and help create these past tax returns for you. The IRS will submit a “substitute” tax return for a taxpayer which gives the smallest deductions and uses the worst case deduction. We can help correct those returns to a more accurate tax return.
Offer in Compromise:
If you can't afford to pay your back taxes in full, the Offer in Compromise program lets taxpayers who owe the IRS more than they could ever pay, the opportunity to pay a smaller amount as a full and final payment. Many people do not qualify. The Offer in Compromise (OIC) process is long and difficult, and the Internal Revenue Service rejects the great majority of the offers it receives.
Of those who make it through the tedious process of filing an OIC, the IRS only accepts approximately 14% of the Offers in Compromise it receives. As tax professionals, we choose not to simply tell clients to try an Offer and take our fee, when the IRS will most likely reject it. Only taxpayers with a certain financial profile qualify for the program. Simply put, if there are enough assets and income available to the taxpayer, he or she does not qualify for an OIC. But dishonest tax resolution firms will not disclose this information to the taxpayer. They will take the taxpayer's money, fill out an application and send it in to the IRS, regardless of whether the chances of success.
We have your best interest in mind will let you know upfront that there are several options available to you, including the OIC, but also where you fit in when looking at your financial profile. The Tax Company will let you know upfront if an OIC is a possibility for you and what your other options may be.
ROAD MAP TO TAX RESOLUTION
- Free Consultation: The first step is to call or come in for your FREE CONSULTATION. At this meeting, The Tax Company will evaluate your situation and discuss the available options for resolving the matter.
- Retaining Tax Resolution Services: For us to represent you we will need a Retainer Agreement letter and make financial arrangements in order to pay for our tax resolution services. We will file a Power of Attorney(POA) with the IRS. This will provide you with immediate relief because from this point on the IRS will be required to contact us instead of you. A separate POA is required for any State problem.
- IRS Compliance: Generally before any tax resolution can be negotiated, you must become a compliant taxpayer. For the most part you must file delinquent tax returns. For those of you that have incomplete records, The Tax Company can help complete the preparation of tax returns in order to get them filed.
- Tax Settlement Negotiation: We will propose a plan of resolution to the IRS that you can live with and see through to acceptance. There are various types of payment options that we will go over and decide which ones are possible and most beneficial for your situation.
Featured Services
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Tax Return Preparation
We provided a step-by-step review of your Tax Return so you can understand the "WHY" behind the numbers.
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IRS Problem Resolution
Our firm has some of the most qualified representatives anywhere standing ready to assist you in the event of an audit.
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Bookkeeping/Payroll
At The Tax Company our key benefit is that we can customize a package of accounting to fit your needs.
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Other Services
View the other services Tax Company offers.
Contact Us!
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