Saturday, May 1, 2021

WHAT ARE THE CONSEQUENCES OF NOT FILING BACK TAXES?

The consequences for failing to pay taxes and failing to file taxes are vastly different, with failure to file incurring much higher rates of penalty. If taxes remain unpaid, a truant taxpayer may be charged high penalty interest rates, see their assets seized, and in rare cases, face jail time. At the very least, if you’re looking for more time to pay your taxes, you can file form 4868 for a six-month extension. This type of correspondence insures that the IRS knows the taxpayer is experiencing difficulties paying their taxes or filing them by a given deadline.

If you simply don’t file taxes, there’s a possibility that after extra fees have accrued, or the IRS will simply file your taxes for you in the worst way possible; they will file the taxpayer as a single individual with only one exemption, despite what criterion they fall under. This will in turn create a larger amount owed.




NEED HELP WITH OFFER IN COMPROMISE, TAX SETTLEMENTS, TAX PREPARATION, AUDIT REPRESENTATION OR STOP WAGE GARNISHMENTS?

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
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CALL (713)300-3965

If you don’t pay taxes, the IRS will take action against you. It’s usually not immediate, but after enough back taxes go unaccounted for, the government will take action and put a lien on your paycheck or property. Perhaps even a state lien, depending on the situation. As a whole, the taxpayer will take a large monetary hit and their credit will plummet. They’ll have to spend extra money than they otherwise wouldn’t have had to pay. In the worst case scenario, especially if they’re wealthy and seemingly capable of paying their taxes, the government can decide that they’re purposely not paying taxes, declare fraud, and throw them in jail.

It’s important to file taxes in their respective deadline and payout the back taxes in order to avoid penalties, levying of assets, and jail time.
Back Tax Help if I Missed the Filing Deadline

It’s essential that you file as soon as possible to avoid incurring higher penalties and being forced to pay even more than you owe due to accrued interest.

GET TAX RELIEF HELP TODAY

If you think that you may need help filing your 2014, 2015, 2016, 2017, 2018, 2019 & 2020 Form 1040 tax returns or 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.

#FreshStartInitiative
#OfferInCompromise
#TaxPreparation
#TaxAttorneys
#TaxDebtRelief

DIFFERENT METHODS OF IRS TAX DEBT FORGIVENESS

Thanks to various programs, particularly the Fresh Start Initiative, there are numerous types of IRS Debt Forgiveness.


Currently Not Collectible Status


 It’s very rare, but the IRS may deem your tax debt to be Currently not Collectible. This means they’ll put your tax debt on pause thanks to extenuating life circumstances that make it impossible for you to pay your tax liability. When your account is declared currently not collectible, all IRS collection enforcement must stop. While this means your personal assets cannot be levied, it also pauses the CSED. This refers to the amount of time the IRS has to collect from you, capped at 10 years under the Statute of Limitations. During this time, your debt can still accrue interest and failure-to-pay penalties.


Installment Agreements


If you can’t pay your tax debt in full currently, the IRS will allow you to pay in installments through what is known as an installment agreement. These agreements allow for monthly payments that last until your debt is completely paid off, usually set for a period of 72 months. So long as a taxpayer pays off their tax debt fully, they can use installment agreements to reduce and in some cases completely eliminate penalties and interest. To be eligible for an IRS online payment agreement, you must owe less than $50,00 in combined income tax, penalties, and interest, and have filed all required tax returns, both past and current. If you don’t qualify for an online payment agreement, you may still be able to pay through installments using either a Form 9465 or Form 433-F.





NEED HELP WITH OFFER IN COMPROMISE, TAX SETTLEMENTS, TAX PREPARATION, AUDIT REPRESENTATION OR STOP WAGE GARNISHMENTS?

 

ADVANCE TAX RELIEF LLC

www.advancetaxrelief.com

BBB A+ RATED

CALL (713)300-3965


Installment Agreement Startup Fees


The IRS charges nominal fees to taxpayers that enter installment agreements. Currently, the fee is at $120, but there have been revisions proposed that would increase this cost by more than $100. There are ways to cut down on these fees: using a direct debt payment agreement is much cheaper, and its ease of use is a true draw for many taxpayers, especially those who are worried about missing a payment and defaulting on their installment agreement.


Small Business Installment Agreements


Payment plans for small businesses are called In-Business Trust Fund Express installment agreements. To qualify, your business must owe less than $25,000 in payroll taxes and have filed all required tax returns. These generally don’t require any form of financial verification or statement, making it easy to apply. However, you must have employees currently on your roster. If you owe more than $10,000 but still come in under that $25,000 threshold, you’re required to use a Direct Debit installment agreement.


Do I Still Get a Tax Refund?


Any tax refund you receive while taking part in an installment agreement is automatically put towards your tax debt, meaning you won’t receive refund until your tax liability is completely paid off. You must file all required tax returns on time and pay all future tax liabilities in full; if you don’t, the agreement will be considered null and void.


In order to be accepted, your installment agreement must take into account your total income, minus your necessary living expenditures. Many taxpayers find that the installment agreement terms are often very steep. Advance Tax Relief can help you determine an appropriate amount for a payment plan that you can realistically handle that is more likely to get approved to the IRS. Always make sure you propose a realistic monthly payment amount; once the agreement is accepted, it’s almost impossible to renegotiate.


Does the IRS Ever Refuse Installment Agreement Requests?


It’s common for the IRS to deny a payment plan request. There are three main reasons the IRS would refuse an installment agreement request:


Collection Information Statement is False: When you file your Collection Information Statement (Form 433-A), ensure all of the information is complete and correct. If the IRS finds inconsistencies, it may lead the government to assume you’re hiding property or income to evade paying your total tax liability.


Unnecessary Living Expenses: If the government deems your living expenses to be extravagant, they won’t accept your payment plan request. If you have extremely large credit card payments, donate a large amount of money to charity, or purchase large-ticket items, the IRS will assume you are able to pay more than you’re offering.


Previous Installment Agreement Default: If you’ve ever requested a payment plan through the IRS, and defaulted on your payments, it’s likely the IRS will refuse to accept any kind of new proposal.


Advance Tax Relief will work to ensure your installment agreement request has the best chance of approval by assessing these factors and helping you come up with a realistic amount that the government is more likely to accept.



Have Installment Agreements Ever Been Revoked?

After your payment plan request is approved, it’s important to remain diligent with your payments. IRS Debt Forgiveness programs are not unbreakable; the IRS has no problem with revoking installment agreements. There are terms that both parties (taxpayer and IRS) are bound to follow, but should you break these terms, the government can revoke the payment plan.


Default on Payments: If you miss any of your payments, the IRS could choose to revoke your agreement immediately. In most cases, they’ll send you a notice or warning letter that provides you with 30 to 60 days to get up to date on your payments. After being revoked due to missed payments, you may have the opportunity to reinstate your plan by paying the outstanding balance.

Failing to File or Pay Future Tax Returns: The installment agreement is conditional based on your current and future returns and income taxes. Should you fail to file or fail to pay an upcoming return, the Internal Revenue Service will automatically revoke your installment agreement.


False Information: If you’ve knowingly given the government inaccurate or incomplete information during the negotiation process, and they discover your deception, your agreement will be revoked and you could face harsh consequences.


OFFER IN COMPROMISE 


If you cannot realistically pay off your tax debt, the IRS may consider accepting an offer in compromise (OIC). An offer in compromise allows a taxpayer to settle their debt for less than what they owe, with the settlement amount determined on the basis of what they can actually afford to pay. There are three reasons the government will generally accept an OIC request:


Doubt as to Collectibility

If the IRS doubts a taxpayer will ever have the ability to pay off their outstanding balance in full, they may consider declaring Doubt as to Collectability on the account. This involves an examination of your assets and income, which helps the IRS determine whether they’ll be able to collect more by enforcing traditional collection methods or by settling for an offer in compromise.


Doubt as to Liability

Are you convinced your tax debt as presented by the Internal Revenue Service is incorrect? If you can prove that your assessed tax liability is wrong, thanks to examiner mistake, missing information, or new information, the IRS will change the total tax owed to the appropriate amount. Advance Tax Relief professionals can help you determine if there’s any government fault in assessing your outstanding balance.


Effective Tax Administration

If a taxpayer isn’t contesting their collectability or liability, but can prove that their current circumstances prevent them from paying their debt, or that doing so would cause undue hardship, the IRS may be more willing to accept an OIC request.



Do I Have to Pay Off My Offer in Compromise Balance Immediately?

Like installment agreement payment plans, offer in compromise payments can take a variety of forms; your balance may be paid off in full immediately, or you can apply for periodic payments that give you more time to make smaller payments. There are three ways to pay off an offer in compromise:


Lump Sum Payments: If you elect to pay off your tax bill in lump sum payments, you’ll be required to pay off your total renegotiated tax bill within 5 payments. When filing Form 656, you must pay 20 percent of the total amount of the offer.


Short-Term Periodic Payments: If you pay off your offer in compromise using short-term periodic payments, you must pay the entire amount off within a period of 24 months. The first payment must be submitted with the offer, and payments must be regularly during the offer investigation.


Deferred Periodic Payments: If you utilize a deferred periodic payment plan, then you’ll need to pay the total amount of the remaining statutory period for that tax assessment. Like short-term periodic payments, you must submit the first payment alongside your offer and make payments regularly while the Internal Revenue Service assesses your OIC.


GET TAX RELIEF HELP TODAY


If you think that you may need help filing your 2014, 2015, 2016, 2017, 2018, 2019 & 2020 Form 1040 tax returns or 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.


#FreshStartInitiative

#OfferInCompromise

#TaxPreparation 

#TaxAttorneys

#TaxDebtRelief


Tuesday, April 13, 2021

SMALL BUSINESS TAX DEDUCTIONS - Reduce your taxes!

There are several costs that are tied to business operations that you can deduct:


Write-offs for Business Operation Costs


Employee Pay

Retirement Savings Plans

Insurance — Most businesses have general liability, property, and workers’ compensation insurance, but this can include any insurance necessary for your business, trade, or profession.

Interest Expenses

Certain Taxes — Federal, state, local, and foreign taxes paid as part of business operations.






OTHER COMMON DEDUCTIONS 


Advertising

Business use of your home (mortgage insurance, interest, utilities, repairs, and depreciation)

Licenses

Professional fees

Pension and profit-sharing plans

Business use of your car (depreciation or lease payments, gas and oil, tires, repairs, tune-ups, insurance, and registration fees)

Legal fees

Professional development and training fees

Tools and software

Security

Travel ( necessary expenses such as transportation, baggage shipping, meals, lodging, etc.)

If you’re planning on claiming small business tax write-offs, make sure that you have the necessary documentation to back it up.


PARTIALLY DEDUCTIBLE EXPENSES 



Not every expense is fully deductible, but you may be able to deduct other expenses partially. For example:


Only up to $25 can be deducted for gifts per client or customer

Up to 50% of the cost of meals and entertainment can be deducted

Luxury water transportation can be deducted up to twice the highest federal per diem rate

Restrictions and Exceptions


Personal expenses cannot be deducted as business expenses, but in some cases, if you use something both personally and for your business, you may be able to write off a portion of the cost. The IRS also has strict guidelines on which business expenses and how much of each cost, you can write off. Keep in mind; you are not able to deduct expenses that are considered “lavish or extravagant.”


GET TAX RELIEF HELP TODAY


If you think that you may need help filing your 2014, 2015, 2016, 2017, 2018, 2019 & 2020 Form 1040 tax returns or 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.


#FreshStartInitiative

#OfferInCompromise

#TaxPreparation 

#TaxAttorneys

#TaxDebtRelief


SMALL BUSINESS TAXES: WHAT YOU NEED TO KNOW

Running a small business is one of the most involved careers one can have. Most of the time, you are focused on the day-to-day concerns of running your business, but the financial aspect cannot be ignored. This financial aspect includes taxes. Taxes owed and small business tax deductions you qualify for can profoundly affect your business’s financial health.


Business classifications

First things first, the business structure you have chosen for your small business will significantly affect how you are taxed.


Sole Proprietorship

In a sole proprietorship, your personal and business liabilities and assets are not separated for tax-filing purposes. This is the default business classification.


Partnership

A partnership is a simplified business structure that can be used for businesses run by two or more people.


Limited Liability Company (LLC)

A limited liability company (LLC) is a middle ground between a partnership and a corporation. Members of an LLC have to pay self-employment taxes for Medicare and Social Security.




NEED HELP WITH OFFER IN COMPROMISE, TAX SETTLEMENTS, TAX PREPARATION, AUDIT REPRESENTATION OR STOP WAGE GARNISHMENTS?

 

ADVANCE TAX RELIEF LLC

www.advancetaxrelief.com

BBB A+ RATED

CALL (713)300-3965


Corporation

If your business is structured as a corporation (C Corp), its activities are separate from shareholders. This protects from liability but requires corporations to pay income tax on their profits, usually at a higher rate. A corporate structure is recommended for larger scale, higher-risk businesses.


S Corporation

In an S corporation (S Corp), some profits and losses can be listed on your and other business owners’ personal income taxes. This allows for lower taxation. However, not all states allow this, and there are many other restrictions that apply to S Corps, such as having a maximum of 100 shareholders.


International Business

For tax purposes, an international business is one that is either foreign and conducts business activities within the U.S. or vice-versa. International businesses are required to operate within the Foreign Account Tax Compliance Act (FATCA).


Small Business Taxes

You are responsible for paying both federal and state taxes for your small business’s operations. Small business tax rates can vary from state to state, so it is essential to check with your state’s Department of Revenue. Typical small business taxes include:


Income Tax

Like personal income taxes, some small businesses pay taxes on the net income, with variations depending on business structure.


Employment Tax

If you have employees, you are responsible for paying payroll taxes, which include:


Federal Income Tax Withheld from Employees

Federal & State Unemployment Taxes (FUTA & SUTA)

Employer and Employee Social Security and Medicare Taxes

Unlike most taxes, the IRS requires small business owners to make deposited payments for these taxes at least once a month. 


Self-Employment Taxes

If you’re self-employed or a sole proprietorship, you will need self-employment taxes to contribute to your social security and Medicare benefits.


Excise Tax

Your business may be required to pay excise taxes on specific activities, sales, or payments. For example, if your company uses truck tractors on public highways or sells lottery tickets, you may be required to pay excise taxes.


Sales Tax

Your business may be obligated to collect and pay sales taxes for the goods or services you provide. In addition to federal sales taxes, you may also be required to pay state sales taxes, which can differ depending on the county or city in which you operate. 


Property Tax

If your business owns real property, fixed land, and buildings, you’ll have to pay property taxes. Taxes are paid on the assessed value, not the fair market value. The assessed value is determined by the local taxing authority, which will provide you with documentation and a tax bill based on their calculation. The amount you pay in property taxes largely depends on where your real estate is located.


GET TAX RELIEF HELP TODAY

If you think that you may need help filing your 2014, 2015, 2016, 2017, 2018, 2019 & 2020 Form 1040 tax returns or 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.


#FreshStartInitiative

#OfferInCompromise

#TaxPreparation 

#TaxAttorneys

#TaxDebtRelief 


Friday, April 2, 2021

WHY IS YOUR TAX REFUND SO LOW IN 2021?

If you’re questioning “why is my tax refund so low in 2021?” you’re not the only one… 


Many taxpayers filing their 2020 returns are wondering the same thing. So, if your tax refund is less than expected in 2021, it could be due to a few reasons:


You didn’t withhold your unemployment income: The unemployment rate skyrocketed in the U.S. with millions of Americans filing for unemployment benefits. Many people don’t realize that unemployment income is taxable, and they don’t withhold enough (or anything) from their unemployment checks. 


The new American Rescue Plan Act provides an exclusion of $10,200 for unemployment income received in 2020. If you received unemployment, you may find the exclusion will reduce your taxable income and may provide you with an increased refund. If you filed your tax return before this change, check with your tax professional for more information.





You worked fewer hours or you have some employment gaps: While you may not have been laid off in 2020, many businesses choose to reduce hours. This could affect your refund between tax years, even if you work the same job. If this is the case, you have less income tax withholding, so less to get back as a refund in 2021.


No estimated taxes with gig income: Gig employment is on the rise due to more independent contracting opportunities. But not all gig workers know they need to pay estimated taxes for this type of income. Missing this step could mean an unexpected tax bill or a low refund in 2021. Check out our tax guide for gig workers for the essentials.


Not accounting for withholding across multiple jobs: Each job you have will result in you having to fill out a separate W-4 Form. If you didn’t account for each job across your W-4s, you may not have withheld enough, so your tax refund could be less than expected in 2021.


Not factoring eligibility changes for tax credits and deductions: There may be other impacts on your refund due to the credits you can take. For example, if you took advantage of rules that allowed for suspended student loan payments, it may have resulted in a lower student loan interest deduction, Or, if you didn’t pay childcare due to your children staying at home during coronavirus, your eligibility for the full Child Care Credit may have changed.


What to do if your tax refund is less than expected in 2020 or 2021?


If you think that you may need help filing your 2014, 2015, 2016, 2017, 2018, 2019 & 2020 Form 1040 tax returns or 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.


#FreshStartInitiative

#OfferInCompromise

#TaxPreparation 

#TaxAttorneys

#TaxDebtRelief 


Sunday, March 14, 2021

WHAT DO YOU NEED TO KNOW ABOUT IRS PENALTIES AND RELIEF OPTIONS?

Penalty rates vary based on the type of penalty assessed.   For the most common penalties, here are the rates:


Failure to pay:  0,5% per month, up to a maximum of 25%.   this penalty will increase to 1% if the IRS has to enforce collection of the balance owed.


Failure to file:  5% per month, up to 25%.  fraudulent failure to file increases the penalty to 15% per month, up to a maximum of 75%.


Estimated tax:  equivalent to the amount of interest lost to the IRS by not making timely payments throughout the year.


Accuracy:  20% of the understatement of tax.  Fraud increases the penalty to 75%.

The most common abatable penalties are failure to file and pay penalties:  taxpayers have several options to request abatement (relief after the penalty is assessed) for the failure to file and pay penalties, including first-time abatement and reasonable cause arguments.





NEED HELP WITH OFFER IN COMPROMISE, TAX SETTLEMENTS, TAX PREPARATION, AUDIT REPRESENTATION OR STOP WAGE GARNISHMENTS?

 

ADVANCE TAX RELIEF LLC

www.advancetaxrelief.com

BBB A+ RATED

CALL (713)300-3965


Disaster penalty relief is usually applied automatically by the IRS:  taxpayers who live in Presidentially declared disaster areas (identified by zip code) will automatically receive the stated late filing and payment relief.  If this relief is not provided automatically, the taxpayer can contact the IRS to request relief.


Most penalty abatement requests are for first-time abatement:  taxpayers with a clean compliance history (no penalties in prior three years (except for estimated tax penalty), all required returns filed, compliant with any payment agreement related to any debt owed) can use first time abatement to remove the failure to file or pay penalty. First time abatement does not apply to accuracy penalties.


There are do’s and don’ts when requesting relief due to reasonable cause:   there are certain arguments that are a non-starter for reasonable cause abatement.   For example, using “reliance on my tax preparer” is never a good excuse for late filing.  The IRS will always deny it.  However, an unforeseen illness, lack of records, and other reasonable cause arguments can be successful. Taxpayers using any reasonable cause argument should always show how they made a reasonable attempt to comply but could not because of circumstances that were outside of their control.


Many penalty abatement requests are denied – requiring the taxpayer to appeal the adverse decision:  the IRS uses an automated decision-making tool to make penalty relief determinations.  This tool is flawed and often produces incorrect adverse penalty determinations.  Taxpayers often receive adverse penalty abatement determinations that appear not to consider all of the facts and circumstances.   Taxpayers should appeal their decision to the IRS in order to have the entirety of their circumstances considered.


GET TAX RELIEF HELP TODAY


If you think that you may need help filing your 2014, 2015, 2016, 2017, 2018, 2019 & 2020 Form 1040 tax returns or 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.


#FreshStartInitiative

#OfferInCompromise

#TaxPreparation 

#TaxAttorneys

#TaxDebtRelief


Wednesday, March 10, 2021

THE IRS IS COMING TO YOUR HOME OR OFFICE TO DISCUSS PAYING YOUR DELINQUENT TAXES!

IRS To Begin Unannounced Visits to Delinquent Taxpayers!


Where we discussed that the IRS has announced, in Fact Sheet 2019-15, that it will begin visiting taxpayers who have ongoing tax compliance issues.

The IRS will focus its efforts in areas where there have been a limited number of revenue officers available due to declining IRS resources.

THE FIRST FACE-TO-FACE CONTACT FROM AN IRS REVENUE OFFICER MAY BE ALMOST ALWAYS UNANNOUNCED

During the visit, the revenue officer will interview the taxpayer to gather financial information and tell the taxpayer what he or she needs to do to become and remain compliant with the tax laws.




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

Now in Information Release 2020-34 and Fact Sheet 2020-2, IRS has announced that it is increasing the use of data analytics, research and new compliance strategies, including personal visits, to reach taxpayers and tax return preparers who have not filed federal tax returns.

Following the recent and ongoing hiring of additional enforcement personnel, IRS revenue officers (ROs) across the country will increase face-to-face visits with high-income taxpayers who haven't filed tax returns in 2018 or previous years.

These visits are primarily aimed at informing these taxpayers of their tax filing and paying obligations and bringing these taxpayers into compliance.

IRS advises taxpayers that have delinquent filing or payment obligations that they should consult a competent tax advisor before waiting to be contacted by an RO.

IRS notes that high-income taxpayers who will receive these visits have typically received numerous letters from IRS over an extended period of time, so they generally realize they have a tax issue.

Here's what to look for when a legitimate IRS RO makes a face-to-face visit:

While most RO visits to a taxpayer are unannounced, ROs will always provide two forms of official credentials, both include a serial number and photo of the IRS employee. Taxpayers have the right to see each of these credentials.

A legitimate RO will explain the liability to the taxpayer, along with the consequences of failing to comply with the law. The IRS employee will not make threats or demand an unusual form of payment for a nonexistent liability.

Visits by ROs generally occur after numerous contacts by mail about an existing tax issue; taxpayers should be aware they have a tax issue when these visits occur.

The RO will request payment and will provide a range of payment options, including paying by check made payable to the U.S. Treasury.

IRS also announced that it is using the following new ways to leverage existing processes and systems:
Increasing the identification and case creation for individual and business non-filers. New cases will be assigned to IRS employees for appropriate resolution.

Automated Substitute for Return program (ASFR). This affects individual taxpayers who have not filed tax returns, but whose available income information shared with IRS indicates a significant income tax liability. As part of the ASFR program, IRS sends notices to these taxpayers alerting them to the potential liability.

Automated 6020(b) process. Promotes employment tax filing compliance by identifying business taxpayers with employment tax requirements who have not filed for a specific period.

Delinquent Return Refund Hold program (DRRH). Systemically holds an individual taxpayer's income tax refund when their account has at least one unfiled tax return within the five years surrounding that return.

IRS Reminds Taxpayers That It Has A Number Of Options Available Under The Law When A Taxpayer Refuses To Pay, Ranging From A Series of "Civil Enforcement"
Actions And, When Appropriate,
Pursuing Criminal Cases Against Taxpayers.

GET TAX RELIEF HELP TODAY
If you think that you may need help filing your 2018/2019 tax return or 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. 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.

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