WHAT YOU SHOULD KNOW WHEN WORKING WITH A TAX RESOLUTION FIRM - IRS HELP

Millions of people each year struggle to pay what they owe to the IRS. Estimates say that at least one person out of six in the U.S. either owe the IRS money or are facing other tax crises like failing to file tax returns. When you count yourself as one of these statistics, you can deal with your IRS tax issues and enjoy the numerous benefits that come with hiring a tax professional to help you.

ARE YOU FACING UNPAID TAXES?

MEDIATION WITH THE IRS:

One of the greatest advantages that taxpayers enjoy by hiring tax pros to help them with tax issues comes with having someone mediate for and represent them in all IRS proceedings. Your tax professional has the experience and competence to handle matters like:

IRS PROBLEMS? CALL US (800)790-8574

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ Rated
Call (800)790-8574
***We have successfully resolved millions in back taxes for our clients.

ANSWERING LETTERS FROM THE IRS AND MAKING CALLS

Gathering and submitting required paperwork during the proceedings
Filing past due tax returns
Making sure your rights are protected and observed
Speaking on your behalf during hearings and audits
The idea of going up against an IRS agent or auditor can be galling for any ordinary taxpayer. You do not have to deal with the IRS yourself but instead can get confident and experienced representation when you hire an IRS tax professional to help you.

ELIMINATING PENALTIES AND INTEREST

The tax debt you owe to the IRS may be compounded by interest and penalties that you may not be able to afford to pay. A tax professional can negotiate on your behalf and, using the current tax code to your advantage, have these penalties and interest wiped off of your debt. You may end up owing just the principle amount when the negotiations are finished.

SETTLING YOUR TAX DEBT FOR LESS (IRS FRESH START INITIATIVE)

Tax professionals are trained to know the current year's tax code and what loopholes exist to minimize a taxpayer's IRS debt. When you owe hundreds or thousands of dollars, you may want to reduce that debt as much as you can.

Your tax pro will know what legal loopholes to use to reduce your tax debt and save you a lot of money that you otherwise might have had to sacrifice to settle the account. The tax professional might make an Offer in Compromise, or OIC, on your behalf or otherwise negotiate to settle the debt for a lot less than what you actually owe.

AVOIDING IRS WAGE GARNISHMENTS AND TAX LEVIES

The IRS wields an impressive amount of power in its ability to lay claim to your money and assets. It does not have to get a court order to garnish or levy your income and property. It can also seize more than what is normally allowed by most states during an ordinary garnishment or levy case.

You may avoid having your income and assets taken from you to settle your tax debt when you hire a tax professional. Your tax pro may be able to work out a payment arrangement, prove your financial hardship, or propose other ways to settle your account.

RECLAIMING YOUR LIFE

Each letter from the IRS you receive in the mail reminds you of a huge financial burden that you think you cannot escape. Every day might be filled with worry about what you can do to pay off the IRS and get on with your life.

Rather than spend hours and days worrying, you can reclaim your peace of mind by retaining the services of a qualified tax professional. Your tax pro will take over your IRS matter so you can focus on enjoying your life again.

Tax professionals today are trained and ready to assist taxpayers with their IRS debts. They offer numerous benefits to people who may believe that they cannot pay off what they owe or escape their tax debt without having their wages garnished and assets seized. They allow people to enjoy peace of mind while effectively handling their IRS tax obligations.

Whatever you do, don’t duck the IRS if they should come calling. Enlist a tax pro if you’re unsure of how to respond to an audit notice.

Advance Tax Relief offers an experienced team of tax professionals who specialize in working directly with the IRS to solve difficult tax issues for businesses as well as individuals with back taxes or other tax issues. Contact us today at 800-790-8574 for more information or to schedule a consultation.

Call us now at 800-790-8574 or email taxpros@advancetaxrelief.com

Calls and emails are returned during our regular business hours 8:30am - 6:00 pm CST.


So, if you have IRS Problems, Owe Taxes, have Past Due 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 and reduce your chances for an IRS AUDIT.

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, wage garnishment release, bank levy release, tax audit representation, back tax return preparation and the IRS Fresh Start Initiative. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back taxes.  

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.

We have settled millions in back tax penalties and interest for our clients nationwide.

Advance Tax Relief is a Professional Tax Relief Organization

OTHER LINKS:

Advance Tax Relief http://www.advancetaxrelief.com/audit-representation.html

Advance On Wordpress: https://advancetaxreliefblog.wordpress.com/

Advance Tax Youtube: https://www.youtube.com/channel/UCBqQtYZOrJDcoQwyiOgEwHw

Advance Tax Relief on Instagram: https://www.instagram.com/advancetaxreliefusa/

Advance Tax Relief on Twitter: https://twitter.com/IRSTAXPRO?lang=en

Advance Tax Relief on Linked-IN: https://www.linkedin.com/company/advance-tax-relief

WHAT YOU SHOULD KNOW IF YOU HAVE BACK TAX PROBLEMS - IRS HELP

Many of my IRS clients are “Nonfilers,” they have unfiled tax returns. Some of my clients have not filed for multiple years – some, for many prior years. Sometimes, they take action because they (or a friend) heard my radio show or commercial. Most, however, wait until the IRS sends a Notice of Intent to Levy, or worse, Notice of Levy to their employer or bank. If you have unfiled tax returns there are four things you need to know.

IRS PROBLEMS? CALL US (800)790-8574

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ Rated
Call (800)790-8574
***We have successfully resolved millions in back taxes for our clients.

First, you need to know that not filing your tax returns is a crime, punishable by up to one year in prison for each year of unfiled tax return. Fortunately, the IRS doesn’t put a lot of taxpayers in jail for not filing tax returns. But, they do put some in jail. For example, Wesley Snipes was recently released after serving 3 years for failure to file. There is a statute of limitations for unfiled tax returns. The IRS will not be able to bring criminal charges after 6 years from the date the taxes are due. So, 2007 taxes that came due on April 15, 2008 are now beyond the statute, and the IRS can’t bring criminal action against you for unfiled tax returns 2007 and before. But, they still can collect any tax due.

Second, you should know that the IRS may complete your tax returns for you if you fail to file your tax return (it’s a penalty not a service). These are known as Substitute for Returns (SFR). When the IRS prepares your SFR, they will not include any deductions or exemptions. The result will be an inflated tax obligation. Penalties and interest are calculated based on the tax obligation. So, if the tax obligation is greatly inflated, so too will the penalties and interest. Don’t forget, the interest is calculated from the date the tax was due. So, the penalties and interest can add up to amount greater than the inflated tax obligation.

Third, the IRS will only allow you to recover any tax refund for 3 years. So, if you have any refund older than 3 years, the IRS will not refund OR credit your tax obligation for those years. For example, suppose a taxpayer hasn’t filed a return for years 2009 – 2014. Further, suppose, once the returns are complete, the taxpayer is due a refund for the years 2009 – 2011, but incurs an obligation for the most recent years 2012 – 2014. The refunds from the first three years will not be used to set off the tax obligations of the past three years. Those refunds are gone.

Finally, you need to know that, should the IRS levy your bank account or garnish your wages, it will be difficult to stop the levy before real damage is done. This is true because, generally, in order to stop a levy, the taxpayer must be in compliance. Compliance requires the taxpayer to have previous tax returns filed BEFORE the IRS will agree to stop taking your assets. If there are years of unfiled tax returns, it will take some time to get into compliance. Finding the records to prepare older returns can be a real problem.

There is some good news. Because the statute of limitations is six years, a taxpayer may not have to file all of their unfiled tax tax returns. In fact, it may be the worst thing you can do, because you may be creating a greater tax obligation then necessary. Remember, these are the older returns, so if a tax obligation is created, they will bring along a large penalty and interest burden as well.

More good news – if the IRS filed your tax returns for you (SFR) you can file the proper return to decrease you tax obligation. I have helped clients with more than $100,000.00 in tax obligations that disappeared when the corrected tax returns were filed and the SFR’s nullified.


Whatever you do, don’t duck the IRS if they should come calling. Enlist a tax pro if you’re unsure of how to respond to an audit notice.

Advance Tax Relief offers an experienced team of tax professionals who specialize in working directly with the IRS to solve difficult tax issues for businesses as well as individuals with back taxes or other tax issues. Contact us today at 800-790-8574 for more information or to schedule a consultation.

Call us now at 800-790-8574 or email taxpros@advancetaxrelief.com

Calls and emails are returned during our regular business hours 8:30am - 6:00 pm CST.


So, if you have IRS Problems, Owe Taxes, have Past Due 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 and reduce your chances for an IRS AUDIT.

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, wage garnishment release, bank levy release, tax audit representation, back tax return preparation and the IRS Fresh Start Initiative. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back taxes. 

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.

Advance Tax Relief is a Professional Tax Relief Organization

OTHER LINKS:

Advance Tax Relief http://www.advancetaxrelief.com/audit-representation.html

Advance On Wordpress: https://advancetaxreliefblog.wordpress.com/

Advance Tax Youtube: https://www.youtube.com/channel/UCBqQtYZOrJDcoQwyiOgEwHw

Advance Tax Relief on Instagram: https://www.instagram.com/advancetaxreliefusa/

Advance Tax Relief on Twitter: https://twitter.com/IRSTAXPRO?lang=en

Advance Tax Relief on Linked-IN: https://www.linkedin.com/company/advance-tax-relief

CAN YOUR IRS BACK TAX PROBLEMS STOP YOU FROM BUYING A HOME?

With the resurgence of the housing market, more people are finding it easier to buy new homes. Even so, you may hesitate to submit a mortgage application because you still owe the IRS a tax debt. Discover how unpaid taxes can impact your ability to buy a home and how lenders regard IRS debts when considering new mortgage applications.

IRS PROBLEMS? CALL US (800)790-8574


ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ Rated
Call (800)790-8574
***We have successfully resolved over 50 million in back taxes for our clients.

IRS BACK TAXES AND THE MORTGAGE APPLICATION PROCESS

Few people go into a mortgage application process with perfect credit records and no debts to their names. In fact, millions of people each year are approved for mortgages owing money to creditors like student loan financiers, hospitals, auto finance companies, and others.

ARE YOU FACING UNPAID TAXES?

Moreover, many mortgage lenders today have no problem helping people who have serious blemishes on their credit records. They may be able to overlook or work around credit mishaps like:

bankruptcies
collections
charge offs
judgments
However, a tax debt is held in a different regard simply because of the leeway the IRS enjoys when collecting on what is owed. When you owe the IRS money, you could be subject to a tax lien or levy at any time particularly if you have made little no to effort to satisfy the debt.

Mortgage lenders realize the risks that come with owing the IRS money and what measures this federal agency can use to recoup outstanding tax balances. They do not want to loan money to someone whose house could be levied.

You might believe that you are doomed to being denied a mortgage for as long as your tax debt remains unsettled. It is true that if you take no action whatsoever to pay it off that you are likely to be denied for a home loan. However, if you take curative actions to settle the account, you could make yourself more appealing as a mortgage applicant and might up your chances of eventually being approved.

Proactive Measures to Handle Tax Debts
Your ideal method of being approved while owing a tax debt is to pay off what you owe the IRS. If the debt no longer exists, the mortgage lender has no reason to hold it over your head as a reason for your denial. Paying off the amount could increase the likelihood of you being approved for a home loan.

If the amount is too great to pay off in full, you should at least make some attempt to pay it off in increments or settle it for a lesser amount. In particular, if you are applying for a VA loan, you could still be approved with an active tax debt if you:

are set up on a suitable monthly installment agreement with the IRS
have made at least 12 consecutive payments on the installment agreement
satisfy the debt-to-income ratio requirements even with the monthly IRS payment
can provide of the outstanding tax debt balance on your mortgage application
Even if you can prove these key details, you may still not qualify for standard underwriting of your mortgage. You may need to seek out manual underwriting, which could put more intense scrutiny on your debts and lower the required debt-to-income ratio.

If you are not approved for a mortgage right now, you should not despair about your chances of being approved in the future. It is important that you take action now to deal with your IRS debt and to pay it off as soon as possible. You can accomplish this by hiring a tax professional if necessary and setting the debt up on an installment agreement or by making an Offer in Compromise to settle the debt for a reasonable lower amount.

You should also check your credit report once a year and report any inaccurate information or discrepancies. Removing inaccurate or outdated information could raise your score and improve your overall credit record.

Mortgage lenders regard tax debts as riskier than other types of debt. Still, an unsettled IRS debt may not sink your chances of being approved for a home loan. You can improve your chances of approval now or in the near future by knowing what proactive steps to take to pay the IRS and handle your tax debt satisfactorily.

Whatever you do, don’t duck the IRS if they should come calling. Enlist a tax pro if you’re unsure of how to respond to an audit notice.

Advance Tax Relief offers an experienced team of tax professionals who specialize in working directly with the IRS to solve difficult tax issues for businesses as well as individuals with back taxes or other tax issues. Contact us today at 800-790-8574 for more information or to schedule a consultation.

Call us now at 800-790-8574 or email taxpros@advancetaxrelief.com

Calls and emails are returned during our regular business hours 8:30am - 6:00 pm CST.


So, if you have IRS Problems, Owe Taxes, have Past Due 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 and reduce your chances for an IRS AUDIT.

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, wage garnishment release, bank levy release, tax audit representation, back tax return preparation and the IRS Fresh Start Initiative. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back taxes. 

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.

Advance Tax Relief is a Professional Tax Relief Organization

OTHER LINKS:

Advance Tax Relief http://www.advancetaxrelief.com/audit-representation.html

Advance On Wordpress: https://advancetaxreliefblog.wordpress.com/

Advance Tax Youtube: https://www.youtube.com/channel/UCBqQtYZOrJDcoQwyiOgEwHw

Advance Tax Relief on Instagram: https://www.instagram.com/advancetaxreliefusa/

Advance Tax Relief on Twitter: https://twitter.com/IRSTAXPRO?lang=en

Advance Tax Relief on Linked-IN: https://www.linkedin.com/company/advance-tax-relief

IF I FILE AN EXTENSION WILL IT INCREASE MY CHANCE FOR AN IRS AUDIT?

BACK TAXES AND IRS AUDITS

A tax extension grants you an additional six months to file your taxes. You’ll have more time to gather your documentation, file your forms and enlist  a tax pro if necessary.

IRS PROBLEMS? CALL US (800)790-8574

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ Rated
Call (800)790-8574
***We have successfully resolved over 50 million in back taxes for our clients.

Filing an extension doesn’t increase your audit risk. Depending on your return, filing an extension may actually lower your audit risk, especially if you take the extra time to double-check all the information you provide on your return. Most audits stem from incomplete, inaccurate or missing information on tax returns.

At the same time, an extension could increase your overall tax liability. If you’re not able to pay your tax bill by April 15, you’ll begin to accrue interest and penalties on the balance until it is paid in full. If you find your tax bill to be beyond your reach, you do have the option of consulting with a tax advisor who can inform you of your options and possibly negotiate with the IRS on your behalf.

If you suspect you can’t file by the April 15 deadline, it’s still a good idea to estimate how much you’ll owe in taxes and to pay the balance on or before the April 15 deadline. You won’t have to hassle with late fees or penalties and you can concentrate on filing for your extension and gathering the needed documentation so you can file your return before the extension expires.

No one likes the thought of facing an audit, but you most likely won’t face an increased audit risk if you file an extension. While you’ll face late fees and penalties on your tax bill if you don’t pay by the April 15 deadline, an extension in and of itself won’t trigger an audit.

Just remember to provide all the requested information on both your extension request and your tax return, and double-check your figures for accuracy before filing your return. In terms of audit risk, it’s much better to have an accurate extended return than an incomplete or inaccurate return filed quickly on April 15.

Whatever you do, don’t duck the IRS if they should come calling. Enlist a tax pro if you’re unsure of how to respond to an audit notice.

Advance Tax Relief offers an experienced team of tax professionals who specialize in working directly with the IRS to solve difficult tax issues for businesses as well as individuals with back taxes or other tax issues. Contact us today at 800-790-8574 for more information or to schedule a consultation.

Call us now at 800-790-8574 or email taxpros@advancetaxrelief.com

Calls and emails are returned during our regular business hours 8:30am - 6:00 pm CST.


So, if you have IRS Problems, Owe Taxes, have Past Due 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 and reduce your chances for an IRS AUDIT.

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, wage garnishment release, bank levy release, tax audit representation, back tax return preparation and the IRS Fresh Start Initiative. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back taxes.  

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.

Advance Tax Relief is a Professional Tax Relief Organization

OTHER LINKS:

Advance Tax Relief http://www.advancetaxrelief.com/audit-representation.html

Advance On Wordpress: https://advancetaxreliefblog.wordpress.com/

Advance Tax Youtube: https://www.youtube.com/channel/UCBqQtYZOrJDcoQwyiOgEwHw

Advance Tax Relief on Instagram: https://www.instagram.com/advancetaxreliefusa/

Advance Tax Relief on Twitter: https://twitter.com/IRSTAXPRO?lang=en

Advance Tax Relief on Linked-IN: https://www.linkedin.com/company/advance-tax-relief

TIPS YOU NEED TO KNOW FOR YOUR UPCOMING TAX AUDIT

If you are selected for an audit, well, you have little choice but to follow through with it. However, that does not mean you should simply raise your hands and give up. There are things you can do; you should strive to minimize the financial impact and to try preventing the IRS from investigating more than the initial items selected for your audit.

IRS PROBLEMS? CALL US (800)790-8574


ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ Rated
Call (800)790-8574
***We have successfully resolved over 50 million in back taxes for our clients.

Sometimes you can get tax debt relief or owe nothing more after the audit, at least. However it is more likely that you will still owe money. It is essential to understand how to go into an audit to be able to prevent the IRS from looking at any more information in depth. In this article I wish to outline some IRS audit tips, those which I and my colleagues have found particularly helpful through the audit process.

Before you go into your audit there are few things you should understand about the average tax auditor. These guys have a really tough and stressful job. This is mostly because many people resent the fact that they are being audited, and they tend to take this out on the auditors.

I suggest you try and keep calm around the auditor and try and keep in mind that the auditor is simply trying to do his job and not trying to spite or hurt you financially, be calm and remain reasonable. Another thing to keep in mind is that the auditors are specifically trained to keep an eye out for things that don’t add up or out of the ordinary, which is to say you ought to avoid showing or telling the auditors about things that have not been asked about. Remember, a little politeness goes a long way.


HIRE SOMEONE WHO KNOWS WHAT THEY ARE DOING

Enrolled agents and irs tax attorney can represent you at an audit. They are officially trained in tax law and can therefore represent you with far better results than you could hope to achieve on your own. To a layman the tax code is like a completely foreign language. Enrolled agents have been around for quite a long while, since the post-Civil War days, at least. And the training they go through is quite grueling and efficient.


WRITE THINGS DOWN AND MAINTAIN GOOD RECORDS

Don’t just pull out your records all together year by year on the 15th of April! Develop the habit of keeping and maintaining primary and secondary records all year-round. And think about using a personalized filing system to keep your records close to the right tax return. This way, if you’re being audited, you’re prepared. Primary records are things like bills and receipts. While secondary records could be anything from spreadsheets to mileage logs, and any other sort of summary info that might be important.

COLLECT INFORMATION

Haven’t kept records for the Tax year in question? That’s alright, we’ve all done that, once or twice. The solution is quite simple, albeit a little arduous and time consuming. You need to go back to that year and try to recreate those records as accurately as you can. If you’ve claimed any expenses in certain areas, e.g. medical expenses, it is possible that your doctor or hospital still have your medical records on file. Don’t hesitate to ask for them, most doctors would not think twice about the request.

You can also call up your place of employment and ask for duplicate W-2s or 1099 forms. You can check with the mortgage company for your interest expenses for that year. Once you have all you can collect, put everything it all in a neat and simple format, summarized and with supporting documentation for the auditor to have a look at.

Whatever you do, don’t duck the IRS if they should come calling. Enlist a tax pro if you’re unsure of how to respond to an audit notice.

Advance Tax Relief offers an experienced team of tax professionals who specialize in working directly with the IRS to solve difficult tax issues for businesses as well as individuals with back taxes or other tax issues. Contact us today at 800-790-8574 for more information or to schedule a consultation.

Call us now at 800-790-8574 or email taxpros@advancetaxrelief.com

Calls and emails are returned during our regular business hours 8:30am - 6:00 pm CST.


So, if you have IRS Problems, Owe Taxes, have Past Due 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, wage garnishment release, bank levy release, tax audit representation, back tax return preparation and the IRS Fresh Start Initiative. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back taxes. 

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.

Advance Tax Relief is a Professional Tax Relief Organization

OTHER LINKS:

Advance Tax Relief http://www.advancetaxrelief.com/audit-representation.html

Advance On Wordpress: https://advancetaxreliefblog.wordpress.com/

Advance Tax Youtube: https://www.youtube.com/channel/UCBqQtYZOrJDcoQwyiOgEwHw

Advance Tax Relief on Instagram: https://www.instagram.com/advancetaxreliefusa/

Advance Tax Relief on Twitter: https://twitter.com/IRSTAXPRO?lang=en

Advance Tax Relief on Linked-IN: https://www.linkedin.com/company/advance-tax-relief

SOME MISTAKES WHEN FILING AN IRS OFFER IN COMPROMISE

(TAX SETTLEMENT or IRS FRESH START INITIATIVE AS SOME MAY CALL IT)

While the IRS expects you to pay what you owe the federal government each year, it understands you may not have the means to do so. Rather than default on your tax obligation, you could settle your account reasonably by making an Offer in Compromise. You can ensure that the IRS accepts your proposal by avoiding these six common OIC mistakes.

IRS PROBLEMS? CALL US (800)790-8574

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ Rated
Call (800)790-8574
***We have successfully resolved over 50 million in back taxes for our clients.

FAILURE TO DISCLOSE FINANCES

When you make submit an OIC, you will be expected to disclose to the IRS every last detail about your finances. You must tell how much you earn, how much you have in savings and investments, and what kind of assets you own.

LOOKING TO SETTLE YOUR TAX DEBT WITH AN OFFER IN COMPROMISE?

To verify your financial details, the IRS has the option of requesting or securing copies of your:

income earning statements
bank records
financial statements regarding annuities, dividends, and investments
DMV records
With this in mind, you will benefit by being entirely honest and forthcoming with your financial details to avoid having your OIC denied.

OVERSPENDING
The IRS will also scrutinize your spending habits to ensure that they match up with the money you have at your disposal. If it notices you spending huge amounts of cash on vacations, buying consumer goods like electronics, or big ticket items like cars, it may ask you to re-submit information about your income and assets

It may suspect that you have more money than what you originally disclosed with your OIC application and may have more cash to put toward settling your IRS debt. It also may deny your OIC because of your overspending.

MATHEMATICAL ERRORS

Simple mathematical errors can lead to an OIC being denied by the IRS. Whether you fill out the Form 433, which is required for the OIC proposal, or you allow a CPA or an EA to fill out the form on your behalf, it is crucial that you check it for math mistakes.

Simple miscalculations like not adding up basic figures correctly are simple mistakes that can doom your OIC. Before you submit the Form 433 to the IRS, you should go over the numbers again and make sure that they are correct to prevent it from being denied.

BLANK SPACES

When the IRS receives a Form 433 for an OIC that is not fully filled out, it has no choice but to deny it. Spaces that are left blank without explanation can cause the IRS to wonder if your or your CPA or EA is hiding information or simply does not understand what kind of information is required from you.

You can clear up any questions about filling out the form and avoid leaving spaces blank by referring to the IRS website. You can also submit a fully filled out Form 433 by hiring a tax professional who is experienced in submitting and overseeing OICs for past due taxes.

NON-COMPLIANCE

As your OIC is being considered, you are required to continue submitting your tax returns on time. If you fail to file taxes by the April 15 deadline, you put your OIC in jeopardy of being turned down.

You may think it best to hold of filing because you cannot afford to pay the taxes that you owe that year. However, to avoid the OIC being denied, you should file your taxes even if you cannot pay what you owe. The new tax debt could be included with the OIC in some circumstances if you file your returns on time as required.

IGNORING THE STATUTE OF LIMITATIONS

The IRS has 10 years to collect on tax debts that taxpayers owe to the government. However, that timeline can be disrupted if you take certain actions of your own like:

filing for bankruptcy
filing an OIC
requesting an installment agreement
defaulting on an installment agreement
Before you submit a new OIC, you should verify whether or not the tax debt is still active or if it is past its statute of limitations. If you are unsure of how to accomplish this, you can hire a tax professional who can then obtain copies of your tax records. Based on the current information, your tax pro may then be able to complete and submit an OIC on your behalf.

An Offer in Compromise can be your best option for resolving a past due tax debt. However, the IRS requires you to comply fully with filling out the forms and making the official request. By avoiding these six common mistakes, you better your chances of having your OIC approved the first time you submit it.

Whatever you do, don’t duck the IRS if they should come calling. Enlist a tax pro if you’re unsure of how to respond to an audit notice.

Advance Tax Relief offers an experienced team of tax professionals who specialize in working directly with the IRS to solve difficult tax issues for businesses as well as individuals with back taxes or other tax issues. Contact us today at 800-790-8574 for more information or to schedule a consultation.

Call us now at 800-790-8574 or email taxpros@advancetaxrelief.com

Calls and emails are returned during our regular business hours 8:30am - 6:00 pm CST.


So, if you have IRS Problems, Owe Taxes, have Past Due 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, wage garnishment release, bank levy release, tax audit representation, back tax return preparation and the IRS Fresh Start Initiative. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back taxes.  

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.

Advance Tax Relief is a Professional Tax Relief Organization

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