Tax Resolution Services
Currently Not Collectible/Hardship Status
If paying your tax debt would cause you undue financial hardship, you may qualify for Currently Not Collectible (CNC) status. If the IRS decides your case is legitimate, they will halt collection for the duration of your CNC status, although you may still be subjected to a lien. Generally, to be accepted as Currently Not Collectible you must demonstrate to the IRS that you cannot pay your tax debt after meeting monthly living expenses or by liquidating certain assets. Applying for hardship status on your own is time-consuming and can ultimately end in failure. Our tax professionals are familiar with IRS rules and regulations. If we feel you have a good chance to qualify for hardship status, we will submit the correct paperwork on your behalf and emphasize your suitability to the IRS. Currently Not Collectible is best thought of as a reprieve from collection enforcement that is subject to review. Once your status is confirmed, however, we can recommend options that will bring your tax controversy to a permanent close.
Payroll Taxes Owed
Falling out of compliance with IRS payroll regulations can destroy your business. Not only that, it can ruin your personal finances. Perhaps you’ve gotten behind on payroll taxes through an oversight or a temporary lack of funds. Whatever the reason, it is important to note that the IRS pays particular attention to small businesses that fall behind on their employees’ federal withholdings. If the IRS decides that your business has violated payroll tax rules it may come after your personal bank accounts and assets–even if your business files for bankruptcy protection. If you have received correspondence from the IRS about payroll issues, you need experienced representation now. Let our tax experts help you resolve your payroll tax issues so you can get back to running your business.
Statute of Limitations
The Statute of Limitations dictates the amount of time allocated for certain tax-related actions. For example, 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 the ten year collection rule. 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. It is important to know when the Statute of Limitations expires, but it is just as important to know what to do with that information. We have the expertise to help you make those decisions. Sometimes, filing for a certain status or payment plan can do more harm than good. Everyone’s tax debt issues are different and it is critical that all factors be considered. Our tax professionals will find out how the Statute of Limitations applies to your circumstances and then advise you as to the best course of action to take.
Unfiled Returns
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. 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 to learn more about filing your overdue tax returns.
Wage Levy (Wage Garnishment)
A Wage Levy occurs when the IRS sends a Notice of Levyto your employer demanding that he or she send a portion of your paycheck to the IRS. If your employer fails to comply, they could be held responsible for your tax debt. A wage levy is extremely unpleasant. The IRS usually gets the bulk of your paycheck until your taxes are paid off and your relationship with your employer is put under a great deal of stress. If your wages are being garnished, you need help now. Our tax experts will work with you to arrange a payment plan with the IRS that is far more tolerable than having your regular paycheck docked.