Accounting and Tax Services

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Consistently filing your tax returns yet falling short on payments can lead to mounting penalties and interest, significantly inflating your overall tax debt. If you find yourself delinquent and haven't yet heard from the IRS, the repercussions may involve liens on your property or levies on your bank accounts or wages. The potential financial devastation from unpaid back taxes is serious but often preventable. We offer assistance in evaluating your tax debt options and negotiating feasible payment plans with the IRS. Delaying action on unpaid back taxes can exacerbate the issue, so contact us today to proactively address and resolve your tax liability concerns.

If the IRS applies the refund from your joint return to offset past-due debts solely attributed to your spouse or former spouse—such as taxes, child support, or student loans—you may qualify for Injured Spouse Relief. It's important to distinguish this relief from Innocent Spouse Relief; while Injured Spouse Relief addresses cases where you don't receive your portion of a refund due to your spouse's debt, Innocent Spouse Relief pertains to shared responsibility under specific circumstances. Our tax experts can assist in rectifying unfair tax liabilities and securing your entitled funds. Through a thorough examination of your case, we'll determine if you qualify for Injured Spouse Relief or any other relevant IRS relief programs.

Receiving a Notice of Audit and Examination Scheduled from the IRS can be a daunting experience. An IRS audit involves a thorough review of an organization's or individual's accounts to ensure accurate reporting. Ignoring an audit may result in the IRS filing your return on your behalf, leading to potentially higher payments. While an IRS audit is a serious matter, seeking experienced assistance can often resolve tax difficulties. You don't have to confront an audit alone—we are qualified to represent you before the IRS examination division. Our associates possess the expertise to potentially save taxpayers significantly more than the cost of representation and efficiently bring the audit to a close.

A federal tax lien materializes shortly after the IRS assesses your tax and issues a demand for payment. The subsequent Notice of Federal Tax Lien signals to creditors that the IRS asserts a claim on all your property, present and future. Typically, the IRS won't release the lien until taxes, penalties, and fees are fully paid. Despite this, proactive steps can be taken. By reaching out to us promptly, we may be able to appeal to the IRS for a reconsideration of your lien. Our tax experts will meticulously assess your situation to explore options such as payment or penalty reduction, check for expired Statute of Limitations, or evaluate eligibility for Currently Not Collectible status. If these avenues prove unsuccessful, we will diligently work to establish a payment plan with the IRS and seek to have the lien revoked.

An offer in compromise provides an opportunity to settle your tax debt for an amount less than the total owed, making it a viable choice if paying the full tax liability is unfeasible or would result in financial hardship. The IRS typically approves such offers when the proposed amount reflects the maximum collection achievable within a reasonable timeframe. While the Offer in Compromise program may not suit everyone, we can assess your financial situation to determine your eligibility. In cases where an offer in compromise may not be feasible, we can provide alternative payment options to effectively address and resolve your tax debt.

Non-compliance with IRS payroll regulations poses a significant threat to both your business and personal finances. Falling behind on payroll taxes, whether due to oversight or temporary financial constraints, can trigger serious consequences. The IRS pays particular attention to small businesses in violation of federal withholding obligations. If deemed non-compliant, the IRS may pursue your personal bank accounts and assets, even in the event of business bankruptcy. If you've received IRS correspondence regarding payroll issues, prompt and experienced representation is crucial. Allow our tax experts to assist you in resolving payroll tax issues, enabling you to refocus on managing your business effectively.

One of the most challenging aspects of IRS tax controversies is the accumulation of penalties and interest on the original tax bill. Late filing, late payment, negligence, and other penalties, coupled with accruing interest on unpaid taxes, can significantly inflate your overall tax liability. If you're grappling with unpaid taxes alongside additional penalties and interest, our assistance can make a difference. The IRS may consider penalty abatement under certain conditions, such as reasonable cause and non-willful neglect. First-time penalty waivers are also available for many taxpayers with no prior major issues with the IRS. While interest charges are generally non-revocable, certain established interest suspension provisions may apply, particularly in cases where the IRS has made an error. We understand the overwhelming nature of penalties and interest and will meticulously examine your tax situation to identify potential opportunities for waiver.

An asset seizure is a serious consequence of an IRS levy, where your property, including vehicles, boats, jewelry, and even your home, may be taken and auctioned to satisfy tax liabilities, interest, and penalties. If the IRS has notified you of an impending asset seizure, it's crucial to be aware of your legal rights regarding your property. Our associates will guide you through available options, such as qualifying for an Offer in Compromise, seeking Innocent Spouse Relief, or exploring Currently Not Collectible status if you are facing severe financial distress. Even if the IRS has already seized your property, we can request an Asset Levy Release to potentially retrieve your possessions. Contact us today for comprehensive information and assistance in safeguarding your assets.

The Statute of Limitations sets the timeframe for various tax-related actions. For instance, the IRS has three years to audit your tax return or issue a refund, while they have ten years to collect after a tax has been assessed. Exceptions to the ten-year collection rule exist, and certain payment arrangements can suspend the ten-year timeframe but may extend the statute of limitations once the suspension period concludes. Knowing when the Statute of Limitations expires is crucial, but equally important is understanding how to proceed with that information. We possess the expertise to assist you in making informed decisions. Filing for specific statuses or payment plans can have varying impacts, and given the unique nature of each tax debt situation, a comprehensive evaluation is essential. Our tax professionals will assess how the Statute of Limitations applies to your circumstances and provide guidance on the optimal course of action.

If you have overlooked filing a tax return for a previous year or years, it is imperative to take immediate action—even if you believe you cannot afford to pay. The potential penalties and interest for not filing a return are often more severe than those for filing without full payment. In essence, avoiding filing tax returns only leads to substantial fines and the risk of potential legal consequences. Our expertise is at your disposal to address any misunderstandings with the IRS. After filing your overdue returns, we can assist in establishing a payment plan or exploring an Offer in Compromise. It's essential to note that the IRS typically won't consider payment arrangements or lift liens or levies until all delinquent tax returns are filed. Contact us today to gain insights into filing your overdue tax returns and navigating a path to compliance.

A Wage Levy occurs when the IRS issues a Notice of Levy to your employer, directing them to send a portion of your paycheck directly to the IRS. If your employer fails to comply, they may be held accountable for your tax debt. Wage levies are highly distressing, as the IRS typically withholds a significant portion of your paycheck until your taxes are paid off, straining your relationship with your employer. If your wages are currently being garnished, immediate assistance is crucial. Our tax experts will collaborate with you to negotiate a payment plan with the IRS that is far more manageable than enduring regular paycheck deductions. Act now to alleviate financial stress and find a workable solution for wage levies.