NON-FILED TAX RETURNS
Non-filed tax returns will eventually be filed by the IRS on your behalf. They are filed with little or none of the deductions you would normally be entitled to. It is in your best interest to have us get your tax filing current, and if need be, work out a payment arrangement for any liabilities owed.
IRS AUDIT REPRESENTATION
Audits require you to gather supporting documents for any item in your tax return that is questioned by the IRS. Those items then need to be verified to your tax return and presented to the examiner. All of this requires a significant amount of time away from your business, job, and daily routine. Our clients are rarely required to talk with the IRS. Once you provide us with your documentation, we handle the rest.
BACK INCOME TAXES OWED
Taxes, penalties, and interest add up quickly when not paid when due. We can help you explore available payment solutions when this happens and show you how to avoid this situation in the future.
BACK PAYROLL TAXES OWED
The IRS takes failure to remit payroll taxes seriously since a large portion of the payroll taxes are funds withheld from your employees, for their tax liabilities. The penalties in this area are the more severe than any others. It is critical that you hire a tax professional to consult with as soon as you find your business unable to meet its payroll tax obligations.
IRS PAYMENT PLAN
IRS payment plans are available to help you pay your income taxes owed from prior years. The purpose of entering into a payment arrangement is twofold; first to structure a reasonable payment schedule to pay off old tax debts, and second, to enable you to stay current by making estimated tax payments if you are self-employed, or by having the proper amount withheld from your pay if you are an employee. Even though penalties and interest continue to accrue on unpaid balances, it is a first step in getting free from your IRS debt. Your payment plan will also give you the ability to begin, and continue paying your current year's income tax liability using your current year's earnings.
BANKRUPTCY
Sometimes, when your tax liabilities and other financial obligations are overwhelming, filing bankruptcy may be a last resort. However, certain qualifications must be met for IRS obligations to be dismissed in bankruptcy. Prior to filing, a meeting with a tax professional and an attorney who specializes in bankruptcy is essential.
WHAT THE IRS KNOWS ABOUT YOU
After you file a tax return, you can retrieve that information from the IRS. You can get complete copies of prior returns as well as well as transcripts of those returns that show only key line items. You can also get account transcripts that show all of the activity on your account, such as tax balances you have owed, refunds issued to you, and payments you have made. You can also get some key information the IRS knows about you before you file a tax return, such as income from your job and your investments, as well as mortgage interest you have paid.