Tax Resolution

IRS COLLECTION OF TAX DEBT

IRS Tax Lien – this will place a lien on your home, your bank account, and other personal property that you own.

IRS Tax Levy – This allows the IRS to freeze up your bank accounts or garnish your wages.

Impose penalties and interest on your tax liability

Hire a tax collector to seize and sell your property

IRS OFFER IN COMPROMISE

Settle IRS Taxes

Offer in Compromise

Allows someone who owes the IRS taxes to settle it for less than what is owed. This can be used for Income Taxes and Employment Taxes. However, you must qualify by showing one of the three:

• Doubt as to collectability – The IRS has reasonable doubt as to your ability to pay off the debt in the near future.
• Doubt as to liability – The IRS has doubt as to the accuracy of your debt.
• Harship, Equity, or Exceptional Circumstances – Repaying the debt will cause an undue financial hardship given your present income.

The IRS will look at your assets and income to determine your qualification for an Offer In Compromise. This can involve a lengthy negotiation process to convince the IRS that you qualify for an Offer In Compromise. It usually takes six months to a year. We can negotiate with the IRS on your behalf to settle your debt. While we negotiate with the IRS, they will not attempt to collect from you or require that you make payments. However, during such negotiation, you must pay any new taxes that become due. Failing to do so will result in the IRS rejecting your Offer In Compromise. If the IRS accepts your offer, you will make a lump sum payment to settle your debt. Sometimes the IRS will allow you to break your lump sum payment up into multiple payments, but this usually results in you paying a little more than you would if it was one lump sum payment.

CURRENTLY UNCOLLECTABLE STATUS

If you can show the IRS you currently do not have the means to repay your taxes, you can be placed in a Currently Uncollectable Status. While in this status, the IRS will not try to collect from you or levy your funds. However, you will still accrue interest and penalties on your debt. We can help you obtain a Currently Uncollectable Status.

PAYROLL TAX ISSUES

You may qualify to submit an Offer In Compromise or enter into a repayment plan.

INNOCENT SPOUSE RELIEF

If you filed a joint return with your spouse, you are responsible for payment of any taxes due from such returns. Furthermore, you are also liable for interest and penalties arising from such taxes. However, if you meet one, or more, of the following criteria, you may qualify for Innocent Spouse Relief:

• Your tax liability was the result of your spouse’s false claims or deductions
• You were not aware that your spouse did not file your taxes after you signed the return
• Your spouse forged your signature
• Your spouse earned money through an illegal activity
• You were separated or divorced from your spouse during the tax year in question

Payment Installment Agreement or Partial Payment Installment Agreement

• Establish an agreement with the IRS to repay all or a portion of your delinquent taxes.