Thursday, May 23, 2019

WHY IT’S OKAY TO DISAGREE WITH THE IRS: KNOW YOUR APPEALS RIGHTS

Automated Collection Service, IRS Appeals, IRS Audits, Revenue Officers
Do you disagree with the IRS, and are becoming frustrated because no one is listening?
Maybe you are under audit, and the IRS Revenue Agent is being difficult, taking unreasonable positions, or proposing changes to your tax return that are wrong, but refuses to see it your way.

NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965



Or maybe you already owe money to the IRS, and their collection division is coming on strong, requesting payment terms you cannot afford, or levying your assets.
You do not need to feel like the IRS has the upper hand.  IRS power does need to be respected, but at the same time there are options to even the playing field.
The IRS has an entire appeals division devoted to reviewing decisions that taxpayers disagree with.  Most likely, that means the adverse decision you are facing is not necessarily the final decision.
IRS appeals has jurisdiction to review audit or collection decisions that include the following:
Rejected offers in compromise.
Terminated and denied installment agreements.
Audit examination reports.
Notices to levy your property, including wages, accounts, and real estate.
Refusals to grant innocent spouse relief.
Decisions of IRS Revenue Officers about your ability to repay your taxes, including a notice of intent to seize and sell your property.
Determinations of personal liability for employment taxes (trust fund recovery penalty).
Disagreement with the IRS filing a Federal tax lien against your property.
IRS refusal to give you penalty relief.
In other words, pretty much any decision an IRS agent makes that you disagree with comes with appeal rights.

The nice part about IRS appeals is that the employees are independent of the IRS examination and collection divisions.  They do not interact with the agent who made the decision you disagree with. IRS appeals officers are charged with being fair and impartial, to resolve disputes taxpayers have with the IRS. They look at cases much differently than an IRS auditor or collection agent.
Auditor’s dig and investigate tax returns – their job is to uncover tax claims that you are not entitled to, either because they are not legally permissible, or you cannot verify income or expenses.
Revenue Officers and ACS agents collect taxes – they look into your finances, and try to uncover how you can repay a tax debt.  They have tools at their disposal to aid their IRS collection powers, like levying your assets.
The jobs of both auditors and and IRS collection agents are necessary, but the IRS does have a system of checks and balances in their appeals division.
Appeals officers are trained to resolve disputes, not create them.  They do not audit your returns, or levy your wages. They try to find a better solution.  They consider your point of view not as an auditor or Revenue Officer would do, but more as a disinterested third party.
I have found appeals officers to be equitable, sophisticated, fair-minded, flexible, and geared to reach resolution that works for both you and the IRS.  If you are tangled-up and in knots over the handling of a case by an auditor, Revenue Officer, Automated Collection Service collection agent, or even an offer in compromise investigator, consider exercising your appeal rights.  It may be uncomfortable, but it can be okay to disagree with the IRS, and know that there are higher levels of review that can offer a fresh perspective.
GET TAX RELIEF HELP TODAY

If you think that you may need help filing your 2018/2019 tax return and past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.
Advance Tax Relief is headquartered in Houston, TX with a branch office in Los Angeles, CA. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.
Advance Tax Relief is rated one of the best tax relief companies nationwide.

#TaxDebtProblems #FilingBackTaxes #TaxReliefPrograms #IRSDebtForgivenes #TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes #OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES

Wednesday, May 22, 2019

HOW TO STOP AN IRS WAGE GARNISHMENT

IRS wage garnishment
The IRS can utilize a number of different methods to collect on a tax debt that you owe. Among them, wage garnishment is one of the most common. You may be able to avoid an IRS wage garnishment by learning under what circumstances it is used and how it could possibly be released if you owe a debt to the IRS.

NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965



DO YOU NEED IRS TAX HELP?

How Does an IRS Wage Garnishment Work?
Before the IRS can legally garnish your wages, it must first notify your employer of its intent to do so. This notification immediately alerts your employer to your tax troubles. By law, your employer must permit the IRS to withhold money from your paychecks to pay off the debt.

Moreover, the IRS can withhold a larger amount of your paychecks than other types of creditors. It only has to leave you $375 out of each paycheck on which to sustain you and your household. If you are self-employed, the IRS can claim all of your yearly income to pay off your tax debt.

How an IRS Wage Garnishment Affects You
The IRS has virtually unlimited access to your income once it decides to garnish you. It has to leave you enough with which to cover necessities. However, it does not consider certain expenses to be necessities. These expenses include:

Mortgage or rent
Utilities
Food
Medical or insurance costs
The IRS uses a predetermined table to decide how much to garnish out of your paychecks. As mentioned, it only has to leave you $375 on which to live out of each paycheck. You could end up with far less income with which to cover basic expenses in your household. You could possibly even face financial hardships because of having your wages garnished by the IRS.

Removing an IRS Wage Garnishment
Once the IRS begins garnishing your wages, it is not often inclined to release it until the debt is paid in full. It may not even allow you to request a release of the garnishment if you are experiencing financial hardships such as not being able to pay your rent or mortgage.

While difficult, it is not entirely impossible to have an IRS wage garnishment released before the debt is paid in full. Your best option for asking for a wage garnishment release could be to hire a tax resolution specialist to assist you in the process. A tax professional can appeal the wage garnishment or present evidence for why it should be released right now rather than after the debt is satisfied.

Examine Your Tax Situation
Another reason to hire a tax professional is to assess the reality of your tax situation. You may not know how much you owe to the IRS. You also may not know if you have any missing returns that need to be filed.

A tax resolution specialist can help you request a copy of your outstanding account balances from the IRS. He or she can also help you find any discrepancies in your records that could result the debt being larger than you actually owe. Your tax professional can contact the IRS on your behalf and get a copy of those records so you can possibly avoid a wage garnishment.

Pay Off Your Debt
Once you know how much you owe, you may then decide how best to pay off the account. If possible, you should pay off the account entirely in one lump sum payment.

If you do not owe a huge amount but more than you have saved in your bank account, you could ask your relatives or friends for a small loan. This idea may be best if you want to avoid expensive penalties and interest from being applied to your IRS debt.

If you cannot pay off what you owe in full in one payment, you could request to be set up on an installment agreement with the IRS. To make this request, you must fill out and submit IRS Form 9465.

An installment agreement allows you to make monthly payments on what you owe. The payments are also based on your income, so they are affordable and in line with what you earn. You can also choose on what day of the month you would like that payment to be due.

Request an Offer in Compromise
Another option you have is to request an Offer in Compromise. An OIC allows you to pay off your account for less than what you owe. You could end up paying pennies on the dollar for your entire tax debt.

Because the IRS grants relatively few OIC’s to taxpayers, you may need the help of a tax professional to make this request for you. A tax resolution specialist will know what forms to file and what evidence to present to show that an OIC is the most realistic option for settling your tax debt.

Demonstrate Financial Hardship
If you cannot get tax relief through any other option, you may succeed by demonstrating genuine financial hardship. If you can prove that paying off your IRS debt would result in extreme financial difficulties for you and your family, you may earn a reprieve from the IRS.

To demonstrate this hardship, you will be asked to show proof like bank statements and paycheck stubs. You will not be given a total wage garnishment release, but you will be given enough time to get your financial affairs in order, so you can make payments on or pay off the debt entirely in the near future.

Appeal a Tax Levy
By law, you have the right to appeal an IRS tax levy. You have 30 days from the time you receive written notice of the IRS' intent to garnish your wages.

You can request a hearing to dispute the amount you owe. You also can have a tax adviser with you to argue your case during the hearing.

Consider Filing for Bankruptcy
As a last measure, you can file for bankruptcy to avoid an IRS wage garnishment. This option should be used when all other options fail.

Filing for bankruptcy prevents the IRS from collecting money from you. It will not forgive your tax debt. However, it stops the IRS from garnishing your wages until after the bankruptcy case has been discharged. By that time, you and your bankruptcy attorney may have a solution for settling the account in a timely manner.

Get the Assistance of a Tax Resolution Specialist
Regardless of the method you use to avoid an IRS wage garnishment, you may fare better by hiring a tax resolution specialist to help you. A tax professional can help you figure out what repayment method is best for you. He or she can also communicate with the IRS on your behalf and file and submit paperwork to request an OIC or installment agreement to pay off what you owe.

An IRS wage garnishment can leave you in financial difficulties that may last for years. The IRS can take as much money as it wishes out of your paychecks. When you hire a tax resolution specialist, you may be able to use other methods to help you avoid an expensive and lengthy IRS wage garnishment.

GET TAX RELIEF HELP TODAY

If you think that you may need help filing your 2018/2019 tax return and past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.
Advance Tax Relief is headquartered in Houston, TX with a branch office in Los Angeles, CA. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.
Advance Tax Relief is rated one of the best tax relief companies nationwide.

#TaxDebtProblems #FilingBackTaxes #TaxReliefPrograms #IRSDebtForgivenes #TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes

#OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES

Monday, May 20, 2019

REASONS SELF-EMPLOYED PEOPLE SHOULD FILE BACK TAX RETURNS - LIKE RIGHT NOW!

Back Taxes, Tax Relief, Tax Preparation, Tax Attorney, Tax Relief

Self-employed people and independent contractors have more complicated tax obligations than people who earn wages as employees. Self-employed people have to account for and report their own self-employment income on their tax returns. And more importantly, they have to pay estimated tax payments throughout the year. That’s because independent contractors don’t have taxes withheld from their paychecks like employees.

NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965


Some independent contractors don’t know they need to make estimated tax payments – which can mean a tax bill in April. If you deal with this issue by ignoring it and not filing a return, your problem will only snowball, with IRS penalties and interest piling up.

If you’re an independent contractor or self-employed and need to file back tax returns, you need to know about five consequences if you don’t file.

IF YOU DON’T FILE YOUR TAX RETURNS, THE IRS CAN PREPARE A TAX RETURN FOR YOU
This may sound kind of nice, but it’s not.

An IRS-prepared return is called a substitute for return. The problem with substitute returns is that the IRS won’t prepare them with any benefits for you. So, for example, if you’re self-employed and need to deduct business expenses, the IRS won’t include those deductions on your substitute return.

In most cases, you’ll owe a lot less in taxes on the return you file than the one the IRS files – so file as soon as possible.

NOT FILING A TAX RETURN WILL ONLY MAKE THE ISSUE WORSE

A common mistake for many independent contractors who owe taxes is to just not file – hoping they can catch up later, when they’re in a better financial position to pay the taxes. This strategy only makes matters worse.

Here’s how not filing a return grows into more problems:

First, it can lead to unpleasant IRS enforcement. When you don’t file, the IRS starts sending notices asking you to file. If the IRS thinks that you owe significant amounts, the IRS can send an agent to visit you (called a revenue officer).
Second, if you owe, filing late can mean significant penalties to your tax bill. The penalty for not filing a tax return is basically 5% per month of the tax balance you owe, up to 25% of the balance you owe. If the IRS says that you fraudulently failed to file (meaning you knew you needed to file but intentionally didn’t), the penalty increases to 15% per month, up to 75% of the taxes you owe.
The best move: File your return on time to avoid these penalties, and file back tax returns as soon as possible to minimize the penalties.

Be sure to include all the expenses, deductions, and credits you qualify for. If you owe and can’t pay, the IRS will work with you on payment plans or other alternatives. But don’t add to the problem by not filing and running up additional tax balances. Also, to avoid filing and owing in the future, set aside funds and start making estimated tax payments.

IF YOU OWE THE IRS AND NO ARRANGEMENTS ARE MADE TO RESOLVE THE BACK TAXES, THE IRS CAN TAKE ALL YOUR SELF-EMPLOYMENT INCOME TO PAY BACK TAXES

There’s an entire IRS department dedicated to people who make their living in ways other than earning wages as an employee: the IRS Small Business/Self-Employed department. This department has a collection function with the power to enforce return filing, levy your income or assets, or file a tax lien on your property.

Self-employed people are more likely to owe taxes than wage earners. Because of that, the IRS is more likely to enforce the filing of a late return for self-employed people.

If you make wages, like an employee, the IRS can take (or, “garnish”) up to 85% of your paycheck (which is a lot!). But, if you earn self-employment income, the IRS can garnish (or, “levy”) the entire amount. And — the IRS could keep taking your earnings until you file your back tax returns and pay the taxes you owe.

Once you file your return, know that the IRS offers several payment options for people who can’t pay all their taxes at once, including monthly payment plans.

UNFILED TAX RETURNS CAN LOWER YOUR FUTURE SOCIAL SECURITY BENEFITS

Self-employed people (including independent contractors) must pay their own self-employment tax. This tax consists of Social Security and Medicare tax. So, to be eligible for Social Security benefits when you retire, you must have worked and paid Social Security taxes for a certain amount of time.

If you haven’t filed returns and paid self-employment tax, your earnings for those years won’t get counted toward your future Social Security benefits. This can have a huge impact on your future income and quality of life.

YOU MAY NEED TAX RETURNS FOR OTHER FINANCIAL OR PERSONAL REASONS

If you’re applying for a personal or mortgage loan, chances are you could be asked to provide copies of tax returns as proof of your income.

Self-employed people and independent contractors often have to provide this information because they don’t have Forms W-2 or paystubs to verify their income. In other examples, you may need to provide a copy of your return for divorce or child support hearings – not an ideal time to point out that you have not filed your returns.

Get back on track
Any taxpayers with back tax returns will be better off filing them as soon as possible. That can limit penalties, interest, and other IRS problems.

To get back on track, you’ll need to gather your tax information, including all your self-employment income and expenses, to file your return. Also, if you owe taxes or you’re facing IRS scrutiny, you’ll need to make plans to pay your tax bill by setting up a payment plan or other alternative with the IRS. You’ll also need to deal with the IRS directly to avoid additional enforcement, like liens and levies.

If you have trouble getting your old Forms 1099 and other tax documents, the IRS can help by providing you the information statements (Forms W-2, 1099, etc.) under your taxpayer identification number. This list is called a wage and income transcript.

You may also qualify for penalty relief through special IRS waivers such as first-time abatement, which can remove penalties for filing and paying late if it’s your first offense. Other penalty-relief options may also be available based on your special circumstances.

You may want to use a tax professional to file back returns and deal with the IRS. Tax professionals can file an authorization to deal with the IRS directly on your behalf, file your back tax returns, and resolve any related issues.

GET TAX RELIEF HELP TODAY

If you think that you may need help filing your 2018/2019 tax return and past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.

Advance Tax Relief is headquartered in Houston, TX with a branch office in Los Angeles, CA. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.

Advance Tax Relief is rated one of the best tax relief companies nationwide.

#TaxDebtProblems #FilingBackTaxes #TaxReliefPrograms #IRSDebtForgivenes #TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes
#OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES

Wednesday, May 15, 2019

FILING BACK TAX RETURNS - TAX ATTORNEY ADVICE

File all tax returns that are due, regardless of whether or not you can pay in full. File your past due return the same way and to the same location where you would file an on-time return.


If you have received a notice, make sure to send your past due return to the location indicated on the notice you received.

NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965


WHY YOU SHOULD FILE YOUR PAST DUE RETURNS NOW

Avoid interest and penalties

File your past due return and pay now to limit interest charges and late payment penalties.

Claim a Refund
You risk losing your refund if you don't file your return. If you are due a refund for withholding or estimated taxes, you must file your return to claim it within 3 years of the return due date. The same rule applies to a right to claim tax credits such as the Earned Income Credit.

We hold income tax refunds in cases where our records show that one or more income tax returns are past due. We hold them until we get the past due return or receive an acceptable reason for not filing a past due return.

Protect Social Security Benefits

If you are self-employed and do not file your federal income tax return, any self-employment income you earned will not be reported to the Social Security Administration and you will not receive credits toward Social Security retirement or disability benefits.

Avoid Issues Obtaining Loans

Loan approvals may be delayed if you don't file your return. Copies of filed tax returns must be submitted to financial institutions, mortgage lenders/brokers, etc., whenever you want to buy or refinance a home, get a loan for a business, or apply for federal aid for higher education.

If You Owe More Than You Can Pay

If you cannot pay what you owe, you can request an additional 60-120 days to pay your account in full through the Online Payment Agreement application or by calling 800-829-1040; no user fee will be charged. If you need more time to pay, you can request an installment agreement or you may qualify for an offer in compromise.

WHAT IF YOU DON’T FILE VOLUNTARILY

Substitute Return


If you fail to file, the IRS may file a substitute return for you. This return might not give you credit for deductions and exemptions you may be entitled to receive. We will send you a Notice of Deficiency CP3219N (90-day letter) proposing a tax assessment. You will have 90 days to file your past due tax return or file a petition in Tax Court. If you do neither, we will proceed with our proposed assessment. If you have received notice CP3219N you can not request an extension to file.


If any of the income listed is incorrect, you may do the following:
Contact the IRS at 1-866-681-4271 to let them know.
Contact the payer (source) of the income to request a corrected Form W-2 or 1099.
Attach the corrected forms when you send us your completed tax returns.
If the IRS files a substitute return, it is still in your best interest to file your own tax return to take advantage of any exemptions, credits and deductions you are entitled to receive. The IRS will generally adjust your account to reflect the correct figures.


Collection and Enforcement Actions
The return we prepare for you (our proposed assessment) will lead to a tax bill, which, if unpaid, will trigger the collection process. This can include such actions as a levy on your wages or bank account or the filing of a notice of federal tax lien.

If you repeatedly do not file, you could be subject to additional enforcement measures, such as additional penalties and/or criminal prosecution.

Already Filed Your Past Due Return
If you received a notice, It takes approximately 6 weeks for the IRS to process an accurately completed past due tax return.

GET TAX RELIEF HELP TODAY

If you think that you may need help filing your 2018/2019 tax return and past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.

Advance Tax Relief is headquartered in Houston, TX with a branch office in Los Angeles, CA. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.

Advance Tax Relief is rated one of the best tax relief companies nationwide.

#TaxDebtProblems #FilingBackTaxes #TaxReliefPrograms #IRSDebtForgivenes #TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes
#OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES

Tuesday, May 14, 2019

DID YOU FILE A TAX EXTENSION? WHAT TO DO WITH THE ADDITIONAL SIX MONTHS!


Income Tax Extension, Form 4868, Tax Preparation

Another Tax Day has come and gone. If you weren’t able to file your taxes on time, did you request an extension?
The IRS allows you to file for an extension before Tax Day if you think you won't be able to complete your tax return accurately or completely by the deadline.

However, an extension does not absolve you of doing more work to get everything completed. You still have stuff to do and a limited time to do it. Don’t worry about becoming an audit target. Filing an extension doesn’t raise red flags for the IRS.

NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965



Let’s talk about what you need to do AFTER you’ve filed an income tax extension. Oh, you didn’t know you could file for an extension? We’ll talk about that, too - who can file for an extension, why you might need to, and what you need to do as soon as possible, even if an extension was granted. Also, we will address why extensions get rejected, too.

First, a Note About Late Payment vs. Late Filing
There is a difference between filing late and paying late.

Failure to File - If you file your income taxes after the deadline and you did not file for an extension, the IRS will charge a percentage of your unpaid taxes per month up to a quarter of your total. If you wait more than 60 days after the deadline, you may owe up to 100% of your unpaid tax, meaning you pay double your taxes.

Failure to Pay - Even if you filed for an extension, you still need to pay your taxes by the original deadline (April 15 most years). If you don’t pay on time, the IRS charges 0.5% of your unpaid taxes per month up to 25% of unpaid taxes.

Interest - You may also be required to pay interest on any unpaid taxes and the penalties listed above. Interest accrues at a rate of 5% annually, compounded daily.

There is some good news for those who do not owe taxes or are receiving a refund. There is no penalty for filing late under these circumstances. The IRS is more interested in charging penalties and interest to those who owe them money than the other way around.

By the way, if you don’t file a return voluntarily, and you owe taxes, the IRS will file a substitute for you. You may not get the deductions and exemptions you are entitled to receive.

Why Would You File an Extension?

There’s no shame in filing for an extension. You may need extra time for several reasons.

Your tax preparation professional won’t get your return done in time. Ask your tax preparer to file for an extension and give you an estimate of any taxes owed.

If you think you may receive a corrected Form 1099 with a revised amount for qualified dividends and foreign taxes.
Buying or selling a home, changing jobs, starting a business, or exercising stock options require new forms to be filed. If you won’t get those done in time, file for an extension to gather all the information.

If you receive income reported on Form K-1, you may not receive it in time to complete your return.
If you need time to gather your receipts for special tax credits.

If rushing completion of your return impacts its accuracy.
To preserve tax refunds you may be owed by the IRS. Otherwise, you have three years from the original deadline to file for a refund.

To gain more time to fund SEP-IRAs, solo 401(k)s, or SIMPLE-IRA plans, and to protect your social security benefits if you are self-employed.

To gain more time to make certain determinations about deductions and credits.

To get a break on your tax preparation fees. Some preparers charge more during "Tax Season," and the prices go down after Tax Day.

In short, if you know your return will not be ready to file by the deadline, at least file for an extension by Tax Day.
Use Form 4868 to file for an extension.

The IRS grants six months after the original deadline to file. If the deadline was April 15, your extension gives you until October 15 of the same year. Unfortunately, you cannot ask for an extension on your extension, so get busy.

If you owe state income taxes, check with your state tax office to determine if you need to file a separate extension with them or if they will honor the federal extension.
What to Do in Your Additional Six Months

The first thing to do is to pay as much of your taxes as possible. The late filing extension does not mean you can pay late. If you don’t have enough information to know exactly how much you will owe, make your best estimate and pay that. Just make sure you pay it by the Tax Day deadline to avoid penalties and interest.

During your extension, you have several tasks to perform.

Complete as much of your return as possible and then start a checklist of missing items.
Mark any estimated amounts on the return so you won’t forget to go back later.
As your tax receipts and other documentation arrive, check them off the list and organize all your documentation. Also, keep notes about how you arrived at various figures like the square footage of your home office.
Make notes on credit card receipts and statements as needed, then place them with your tax packet.
Enter any estimated payments you made when you asked for an extension.

Complete an accurate return as soon as possible. You don’t want it hanging over your head until Fall.
Keep everything organized and ready to go so you can file your return when it’s complete. You don’t want to start over every time you go back to finish your return.

Can Extensions Be Rejected?
Yes. Yes, they can. Here’s why.

Errors on the extension form like transposed numbers and misspelled names.
The information is out of date, including using old addresses or last names that don’t match IRS records.
Although it’s easy to file for an extension, be every bit as meticulous as if you are filing your return. Errors at this stage of the game will add to your penalties and interest.

Filing for a tax return extension makes good business sense for many small businesses and sole proprietorships. Larger companies may not be ready to file on time either.

While there are some reasons you may not want to ask for an extension, such as the inability to recharacterize an IRA contribution, those are relatively rare circumstances. You will want to weigh them against filing an inaccurate return on time or paying fees and penalties for failure to file.

Use the extra time to gather and organize all your documentation, double-check your return for errors, and make decisions about deductions and credits. Just be sure to pay your taxes by the deadline whether or not you plan to file for an extension.

If you are unable to pay the full amount, contact the IRS or talk to us, Advance Tax Relief, to set up a payment schedule or other remedy.

GET TAX RELIEF HELP TODAY

If you think that you may need help filing your 2018/2019 tax return and past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.

Advance Tax Relief is headquartered in Houston, TX with a branch office in Los Angeles, CA. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.

Advance Tax Relief is rated one of the best tax relief companies nationwide.

#TaxDebtProblems #FilingBackTaxes #TaxReliefPrograms #IRSDebtForgivenes #TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes
#OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES

Monday, May 13, 2019

CAN THE IRS GARNISH MY PAYCHECK? THE SHORT ANSWER: YES


Yes, the IRS can take your paycheck. It’s called a wage levy/garnishment.
But – if the IRS is going to do this, it won’t be a surprise. The IRS can only take your paycheck if you have an overdue tax balance and the IRS has sent you a series of notices asking you to pay.
If you don’t respond to those notices, the IRS can eventually file federal tax liens and issue levies. In 2017, the IRS issued more than a half million levy notices. Learn how to avoid IRS liens and levies.

NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965


The IRS will send a series of notices before taking your wages
Before the IRS levies your paycheck, the IRS must send these notices to your last-known address:

A notice and demand for payment (notice numbers CP14, CP501, CP503)
A notice of intent to levy (CP504)
A notice of your right to a Collection Due Process (CDP) hearing (LT11/Letter 1058), via certified mail
If you get an LT11/Letter 1058, you’re at the last step before the IRS will start taking your paycheck.

This notice tells you that you can ask for a special hearing (called a CDP hearing). At the hearing, you can ask for a payment agreement or dispute the tax and penalties the IRS says you owe. But don’t delay. You have to request the hearing within 30 days of the date on the notice. If the IRS doesn’t hear from you within 15 days after the deadline, the IRS can take your paycheck.

In some cases, the IRS can bypass the CDP notice and go straight to a levy after the notice of intent. The IRS does this for some federal contractor levies, or when it thinks collection potential is at risk. If this happens, you can still request a CDP hearing after the IRS issues the levy.

A wage levy can take up to 25 weeks – but it could be faster
It can take from 11 to 25 weeks from the time you get the first IRS notice asking for payment to when the IRS issues a levy.

But, if you have an IRS revenue officer (an IRS employee who collects back taxes and/or pursues back tax returns), that timeline can speed up significantly.

The IRS can take some of your paycheck
When the IRS issues a levy, it will send a notice to your employer (IRS Form 668-W) requiring the business to send part of your paycheck to the IRS.

You’ll get to keep a certain amount of your paycheck. The IRS determines your exempt amount using your filing status, pay period and number of dependents.

For example, if you’re single with no dependents and make $1,000 every two weeks, the IRS can take up to $538 of your check each pay period. IRS Publication 1484 explains how to figure out the exempt amount.

On top of garnishing your wages, the IRS can levy your bank accounts, Social Security income and accounts receivable. The IRS will use the levied money to pay down your back taxes, but you can’t designate the payments toward any particular tax bill.
The levies stop when you get back in compliance
When the IRS issues a wage levy, the levy keeps going until one of these happen:

You pay off your tax bill.
You set up a payment agreement with the IRS (like a monthly payment plan or currently not collectible status).
You prove to the IRS that the levy is creating a financial hardship.
You file an offer in compromise.
The IRS runs out of time to collect your back taxes.
You enter bankruptcy.
You prove to the IRS that the levy was wrongful or erroneous – meaning that the IRS levied money that wasn’t yours, or the IRS issued the levy in violation of procedure or law.
Once the IRS agrees to release the levy, you can speed up the process by asking the IRS to fax the levy release to your employer. Otherwise, you’ll have to wait for your employer to receive IRS Form 668-D by mail.

Get help from an expert
When the IRS is taking or about to take large portions of your check to pay down your tax bill, it’s important to act quickly. A tax professional can help you figure out the best way to resolve your tax bill with the IRS, and deal with the IRS for you to get the levy removed.
GET TAX RELIEF HELP TODAY

If you think that you may need help filing your 2018/2019 tax return and past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.

Advance Tax Relief is headquartered in Houston, TX with a branch office in Los Angeles, CA. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.

Advance Tax Relief is rated one of the best tax relief companies nationwide.

#TaxDebtProblems #FilingBackTaxes #TaxReliefPrograms #IRSDebtForgivenes #TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes
#OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES

Tuesday, May 7, 2019

HOW IRS WAGE GARNISHMENTS WORKS AND HOW TO STOP IT

IRS Collections, Wage Garnishments, Tax Relief, Back Taxes, Tax Attorneys, Small Business Back Taxes

IRS wage garnishment

The IRS has the power to garnish or legally seize any income you make to satisfy federal tax debt or taxes owed. Garnishments can apply to your hourly wages, salary, commissions, and bonuses.

NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965





The IRS will contact your employer directly and require them to directly send the IRS a portion of your income. Your employer is required by law to comply with the IRS garnishment, typically within one full pay period of receiving the notice from the IRS. The difference between the IRS and most creditors, however, is that the IRS does not need to take you to court to get a judgment in order to garnish your wages, and the IRS can garnish more of your wages than a regular creditor can garnish.

The IRS Wage Garnishment Process
When the IRS seeks to garnish your wages for a tax debt that you owe, or use any other legal means to enforce payment of the taxes that you owe, it will first send you a written notice that sets out the amounts that you owe, including the tax, penalties, and interest. This notice should also provide you with a due date by which you must pay the balances in full. Assuming that you do not pay the balance in full, you later will receive another notice, entitled “Final Notice of Intent to Levy,” Once thirty days have passed from the time you have received the final notice, and you still have failed to pay the balance due, the IRS can proceed with garnishing your income.

The Amount that the IRS Can Garnish From Your Wages
The law places limits on the amount that a regular creditor can garnish from your wages. However, these normal limits do not apply to the IRS. Rather, the tax code requires the IRS to leave you with a certain amount of income after garnishing your wages to pay your tax debt. The tax code contains a table that corresponds to the number of exemptions that you claim for tax purposes, and sets forth the amount that is necessary for you and your family to pay for basic living necessities. Unfortunately, a garnishment by the IRS can amount to 70% or more of your income.

Stopping IRS Wage Garnishment
There are a number of different ways in which you can resolve your problem with the IRS. In order to avoid or stop a wage garnishment, you must get back into good standing with the IRS, either by paying your balance in full or entering into a tax payment plan or some other type of resolution.

Enter Into an Installment Agreement
The IRS will stop a wage garnishment if you enter into an approved installment agreement to pay your tax debt in full over a series of monthly payment installments. As long as you can make the monthly payments and pay off the debt before the debt becomes uncollectible by the IRS, your installment agreement is likely to be accepted by the IRS.

Make an Offer in Compromise
In some cases, you may be able to settle your debt with the IRS for less than the total amount that you actually owe, based on your financial situation. This is a fairly selective program and you have financially qualify. However, if you are facing a wage garnishment, you may qualify for this type of relief, and your wage garnishment will stop while your case is being reviewed.

Uncollectible Due to Financial Hardship
If you can prove to the IRS that a wage garnishment or other collection action would prevent you from meeting the basic needs of you and your family, then the IRS may temporarily cease its collections efforts for months and even years. In this case, you must show that collection of the debt would be unfair because your financial circumstances are so bad. The IRS will require financials.

Change Employers
If you change employers, your wage garnishment will not proceed, and it will take some time for the IRS to again track your new employer down and reissue a new wage garnishment. This is only a temporary solution, but it can give you a few months of relief.

Temporarily Quit Your Job
If your employer will allow you to temporarily quit your job for a period of time, and later return to work, then this tactic will slow down the IRS as well. It will take some time for the IRS  to discover that you have returned to work at the same employer and reissue a new wage garnishment to that employer.

File a Tax Levy Appeal
If you disagree with the tax levy in any way, you can file an appeal, even if it has been more than 30 days since you received the notice of intent to levy.

GET TAX RELIEF HELP TODAY

If you think that you may need help filing your 2018/2019 tax return and past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.

Advance Tax Relief is headquartered in Houston, TX with a branch office in Los Angeles, CA. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.

Advance Tax Relief is rated one of the best tax relief companies nationwide.

#TaxDebtProblems #FilingBackTaxes #TaxReliefPrograms #IRSDebtForgivenes #TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes

#OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES