Just so you know you're not alone, we thought we'd outline the most common reasons for falling behind on taxes in order of prevalence:
Number one reason: Self employment - whether you are a doctor, a truck driver or a massage therapist - the burden of paying social security taxes (15.3% of your net income) as well as Federal taxes is the most common reason for hiring us for representation.
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Number two reason: IRA/401k early liquidation -You ran into trouble ... you lost a job, had to pay for something in an emergency (school) or tapping the funds in your 401k early was just too tempting. Withdrawals from 401ks or IRAs are a pretty normal reason for owing back taxes plus the 10% penalty for early disbursement.
Number three reason: W2 under withholding - You just got into the habit of enjoying bigger paychecks so failed to adjust your W-4 back to normal (at HR). The taxes piled up.
Number four reason: Financial windfall (property sale, lottery, business sale, sports-match purse or stock sale) Big payouts can put the wool over your eyes and have you forget about the tax obligation. Just ask boxers like Joe Louis. Imprudent management of the windfall can lead to past due taxes.
So, if you have IRS Problems and unfiled tax returns – Take action today! You should work with a local tax relief firm. Call Advance Tax Relief (800) 790-8574
GET TAX RELIEF HELP TODAY
If you think that you may need help filing your 2017 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.
Advance Tax Relief has a offices in Houston, TX and Los Angeles, CA and helps many individuals just like you work with the IRS to solve a wide variety of issues, including penalty waivers.
Call our team today at 800-790-8574 for more information. For a free consultation, schedule an appointment with us online.
Feel free to also learn about us and contact us via www.advancetaxrelief.com.
However, it doesn’t matter where you live, we service taxpayers nationwide.
Over $50 million has been settled for our clients nationwide.