Thursday, July 30, 2020
ERRORS THAT CAN CAUSE YOUR TAX RETURN TO BE REJECTED
Tax Preparation, Past Due Taxes, Unfiled Tax Return, Tax Relief Debt Help, Tax Attorney
Advance Tax Relief provides assistance to individuals struggling with unmanageable IRS tax burdens. To assess your tax situation and determine if you qualify for tax relief, contact us for a free consultation.
It only takes one minor mistake on your tax return like leaving out vital information such as your name, social security number or even claiming a credit or deduction that you don’t qualify for to completely disrupt your tax return from getting processed.
NEED HELP WITH BACK TAX DEBT, UNFILED TAX RETURNS OR SMALL BUSINESS TAX PREPARATION?
ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965
Here’s what you can do to avoid common mistakes on your taxes:
Including credits and deductions, you don’t qualify for. It can become overwhelming for a taxpayer when they start reviewing the number of credits and deductions they might qualify for. When you do find credits that you feel could be placed on your tax return, make sure to read the fine print. Some credits could have phased out for you if your income exceeds the required threshold you would need in order to qualify for the credit. Or, if you have already included your tuition and fees deduction for the same expenses that you are attempting to apply for, that could also cause a rejection. Sometimes even your filing status could hinder you from qualifying for a credit or deduction.
HEALTH CARE REPORTING ERROR
There are many reporting requirements that a taxpayer must review before placing any health care information on their tax return. One of the most common errors that the IRS sees when reviewing a tax return is when a taxpayer fails to claim coverage exemption and not reconciling advance payments for the premium tax credit.
YOU FORGOT TO SIGN YOUR TAX RETURN
If you’re in a rush to mail in your tax return, you may just forget the most important part, signing your return. The IRS even cites this as another common mistake that a taxpayer will make when sending in their return. It’s also important to note that any unsigned tax return will not be processed by the IRS and will be considered invalid.
Always be sure to take your time and review all the information that is placed on your tax return. Taxpayers should always review any potential credits or deductions they could potentially qualify for and if you are unsure of what those are, speak with a tax professional for assistance.
If you need tax help, contact us for a free consultation.
GET TAX RELIEF HELP TODAY
If you think that you may need help filing your 2014 through 2010 tax returns 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.
#TaxDebtHelp #FilingBackTaxesHelp #TaxReliefHouston #BackTaxRelief
#TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes #OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES
Wednesday, July 29, 2020
YOU MIGHT OWE AFTER FILING YOUR BACK TAXES
Back Taxes, Small Business Tax Preparation, Tax Relief Debt Help
Advance Tax Relief provides assistance to individuals struggling with unmanageable IRS tax burdens. To assess your tax situation and determine if you qualify for tax relief, contact us for a free consultation.
There are many reasons why you might owe a tax balance when it comes time to file your taxes. You may wonder how this could have happened, and you may not even be sure of what you can do to avoid the same problem next year. There are solutions to ensure you don’t accrue a liability when you file in the future; here are the five most common reasons why you might owe a tax balance and how you can prevent owing the IRS again come next tax season.
NEED HELP WITH BACK TAX DEBT, UNFILED TAX RETURNS OR SMALL BUSINESS TAX PREPARATION?
ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965
You didn’t withhold enough from your pay. Double check your federal and state withholdings on your paycheck to see how much is taken out every time you get paid. The IRS offers tools for taxpayers to use when they want to adjust their withholdings but don’t know how much to take out.
Income that is not subject to withholding. If you invest in stocks, sell stocks, or even if you receive unemployment benefits, this will make your income appear to be much bigger than it actually is. This could potentially lead to you owing a tax balance when you file your taxes.
Failure to make estimated tax payments. If you are self-employed/1099 earner, you typically don’t have taxes withheld from your earnings. It is up to the taxpayer to determine how much taxes they should be withholding and making these estimated tax payments to the IRS either monthly or quarterly.
Filing Changes. If you’ve had big life changes within the last year such as getting married, divorced or having a dependent, it can affect your filing status and what credits/write-offs you’re eligible for.
You filled out your W-4 wrong. If you just got a job or are in the middle of a job change, it’s important to carefully fill out your W-4 information. A common mistake that a taxpayer makes when filling out this form is failing to put in their correct withholding, which could lead to owing a tax balance at tax time.
If you need tax help, contact us for a free consultation.
GET TAX RELIEF HELP TODAY
If you think that you may need help filing your 2014 through 2010 tax returns 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 as one of the best tax relief companies nationwide.
#TaxDebtHelp #FilingBackTaxesHelp #TaxReliefHouston #BackTaxRelief
#TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes #OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES
Monday, July 27, 2020
CAN I FILE MY TAX RETURNS SEPARATELY FROM MY WIFE OR HUSBAND?
Unfiled Tax Returns, Back Tax Debt,
Advance Tax Relief provides assistance to individuals struggling with unmanageable IRS tax burdens. To assess your tax situation and determine if you qualify for tax relief, contact us for a free consultation.
Filing a joint tax return with your spouse has many advantages, like receiving one of the largest standard deductions every year and providing several tax breaks for those who choose to file jointly. When deciding whether or not you want to file jointly, it is important to consider both the positive and negative aspects and how you can be directly affected.
Married Filed Joint
The advantages of filing jointly with your spouse can allow you to deduct a significant amount of your income. Couples who file together will typically qualify for the following tax credits:
Earned Income Tax Credit
American Opportunity and Lifetime Learning Education Tax Credits
Exclusion or credit for adoption expenses
Child and Dependent Care Tax Credit
Those who file jointly receive higher income thresholds for certain taxes and deductions. If you and your spouse earn a higher amount of income, you could potentially qualify for tax breaks.
Married Filed Separate
If a couple chooses to file separately they will receive fewer tax benefits compared to those who file jointly. Those who file separately from their spouse will only receive a standard deduction of $12,200 compared to those who file jointly and receive a deduction of $24,400.
Filing a separate return will automatically disqualify from several tax credits and deductions.
Separate filers are limited to smaller IRA contribution deductions.
You cannot take a deduction for student loan interest.
The capital loss deduction limit is $1,500 each when filing separately, instead of $3,000 on a joint return.
If you are unsure of how you want to file this tax season, consider filing both separately and jointly to see which way will be beneficial for both you and your spouse. Always be sure to double-check your calculations as well as the amount of income you are placing on your return and review if you have a net refund or a tax liability. This should help you decide how you should file moving forward in order to receive the most out of filing your taxes.
If you need tax help, contact us for a free consultation.
GET TAX RELIEF HELP TODAY
If you think that you may need help filing your 2014 through 2010 tax returns and past due tax returns, you may want to partner with a reputable tax relief company that 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 as one of the best tax relief companies nationwide.
#TaxDebtHelp #FilingBackTaxesHelp #TaxReliefHouston #BackTaxRelief
#TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes #OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES
Advance Tax Relief provides assistance to individuals struggling with unmanageable IRS tax burdens. To assess your tax situation and determine if you qualify for tax relief, contact us for a free consultation.
Filing a joint tax return with your spouse has many advantages, like receiving one of the largest standard deductions every year and providing several tax breaks for those who choose to file jointly. When deciding whether or not you want to file jointly, it is important to consider both the positive and negative aspects and how you can be directly affected.
Married Filed Joint
The advantages of filing jointly with your spouse can allow you to deduct a significant amount of your income. Couples who file together will typically qualify for the following tax credits:
Earned Income Tax Credit
American Opportunity and Lifetime Learning Education Tax Credits
Exclusion or credit for adoption expenses
Child and Dependent Care Tax Credit
Those who file jointly receive higher income thresholds for certain taxes and deductions. If you and your spouse earn a higher amount of income, you could potentially qualify for tax breaks.
NEED HELP WITH BACK TAX DEBT, UNFILED TAX RETURNS OR SMALL BUSINESS TAX PREPARATION?
ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965
Married Filed Separate
If a couple chooses to file separately they will receive fewer tax benefits compared to those who file jointly. Those who file separately from their spouse will only receive a standard deduction of $12,200 compared to those who file jointly and receive a deduction of $24,400.
Filing a separate return will automatically disqualify from several tax credits and deductions.
Separate filers are limited to smaller IRA contribution deductions.
You cannot take a deduction for student loan interest.
The capital loss deduction limit is $1,500 each when filing separately, instead of $3,000 on a joint return.
If you are unsure of how you want to file this tax season, consider filing both separately and jointly to see which way will be beneficial for both you and your spouse. Always be sure to double-check your calculations as well as the amount of income you are placing on your return and review if you have a net refund or a tax liability. This should help you decide how you should file moving forward in order to receive the most out of filing your taxes.
If you need tax help, contact us for a free consultation.
GET TAX RELIEF HELP TODAY
If you think that you may need help filing your 2014 through 2010 tax returns and past due tax returns, you may want to partner with a reputable tax relief company that 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 as one of the best tax relief companies nationwide.
#TaxDebtHelp #FilingBackTaxesHelp #TaxReliefHouston #BackTaxRelief
#TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes #OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES
Wednesday, July 22, 2020
HOW YOU CAN APPEAL YOUR TAX DEBT LIENS AND SETTLE BACK TAXES
Back Tax Help, Tax Lien Relief, Tax Relief, Tax Help, Small Business Tax Preparation
Have you received IRS Letter 3172, Notice of Federal Tax Lien Filing and Your Right to a Hearing under IRC 6320? That means the IRS has determined you owe a tax debt, which you have neglected or failed to pay. Now they put a lien on your property so you can’t sell or refinance any of it until you pay up or make a deal.
You can appeal this action by using the Collection Due Process (CDP) or the Collection Appeals Program (CAP).
What is a federal tax lien, you say? Read on to learn what a lien is and how it can affect your financial welfare. Then we’ll go into how CDPs and CAPs work.
What Is a Federal Tax Lien?
If you refuse or neglect to pay your taxes in full and on time, the IRS will file a public document called the Notice of Federal Tax Lien (NFTL). Your creditors now know the government has just stepped in line ahead of them. It’s also a sign to potential creditors that your creditworthiness is in question.
A federal tax lien is the government’s legal claim against any property you own. The lien isn’t placed against any specific property; it can be real estate, personal property, or financial or business assets.
Overview of the Federal Tax Lien Process
The IRS files for a lien regarding a specific type of tax and period.
The IRS then has five (5) business days to send that Notice of Federal Tax Lien.
The letter gives you the option to request a CDP or a CAP by a specific date listed in the letter.
If you decide to go for a CDP:
File IRS Form 12153. Request for Collection Due Process or Equivalent Hearing.
Make the request within 30 days after the five business day timeframe for the lien filing.
If you win your appeal, the IRS decides whether to keep the tax lien in place, or release, withdraw, discharge, or subordinate it. (We’ll get back to these terms.)
An alternative to filing Form 12153 or send a written request for a hearing, including all the information required on the form, as well as a copy of the tax lien notice.
Otherwise, you can go for a CAP.
When to Consider Appealing
When filing for bankruptcy and the taxes are subject to an automatic stay.
In cases of withdrawal, subordination, or discharge of the lien.
If the IRS made an error in the lien filing process or made a processing error and filed the tax lien in your name by mistake.
You paid your taxes in full before the IRS filed their lien.
The statute of limitations (10 years) has expired on the debt before the IRS filed a lien.
The IRS never let you dispute the amount owed.
Your spouse is solely responsible for the tax debt, and you can claim Innocent Spouse Relief.
You want an installment agreement or Offer in Compromise.
Requesting a Collection Due Process (CDP)
First, you fill out Form 12153 or make a written request, as explained above. Include all contact and tax debt information and a copy of the lien notice.
Specify if you want lien subordination, discharge, or withdrawal and explain why the IRS should comply with your request.
Subordination doesn’t remove a lien but allows other creditors to move ahead of the IRS. It’s easier to get a loan or mortgage this way.
The discharge removes the lien from a specific piece of property. Now you can sell it to pay your tax debt.
Withdrawal removes the public Notice for Federal Tax Lien and assures creditors the IRS is not competing with other creditors for your property. You still need to pay the tax debt.
Next, specify the arrangements for paying the tax debt.
You can enter into an installment agreement or Offer in Compromise.
You can let the IRS know you can’t possibly pay the balance.
Or you can offer another reason why the lien should be released.
Once you file, an IRS office schedules a meeting. You might get other letters or have meetings with the IRS Office of Appeals. Then the Office of Appeals either grants your request or decides the lien should remain filed.
If your request is denied, you can request a judicial review from the U.S. Tax Court. Your petition must come within 30 days of the date the Appeals Office issues a determination letter. If you don’t make it on time, you can’t go to court even if you don’t agree with the decision.
What if you miss the 30-day deadline for requesting a CDP? You can request an equivalent hearing using the same form. Or you can write a letter.
For an equivalent hearing, you have one year plus five business days after the Notice of Federal Tax Lien to ask for one.
Requesting a Collections Appeal Program (CAP)
A CAP is faster than a CDP, but you can't request a judicial review if you disagree with the final determination. Also, you can't challenge the existence or total of the tax debt.
A CAP can be requested before or after the IRS files for a lien. At the same time, you can get a hearing on a denial, withdrawal, subordination, or discharge.
If you have no contact with a revenue officer:
Call the number on your letter to explain why you don’t agree with the lien.
Offer a solution for clearing your tax debt.
If you can’t reach an agreement with the representative, state that you want to appeal. A manager should call within 24 hours.
If you still disagree, the manager forwards to the case to the Office of Appeals.
If you have contact with a revenue officer:
Speak with the officer. If you differ with that person, request a conference with the Collection Manager.*
If you disagree with the Collection Manager’s decision, submit Form 9423 Collection Appeal within three (3) business days after conferencing with him or her.
If you don’t hear from the Collection Manager within two business days of your request to speak, reach out again or submit Form 9423, noting the time of the conference call request. Indicate the Collection Manager or subordinate did not call along with the date of the request.
* Let the revenue officer know you want a CAP appeal within two (2) business days after meeting with the Collection Manager.
Representation
Who should represent you during this time? You can represent yourself if you feel confident you know what you’re doing.
Better yet, ask a tax professional to represent you. The IRS prefers working with qualified tax professionals anyway. They tend to be more familiar with the appeals process.
COVID-19 Tax Relief
The IRS People First Initiative, which was announced in March of this year, offers relief for taxpayers with filed Notices of Federal Tax Lien or who need assistance with a lien program request.
You can appeal a Federal Tax Lien. Be sure to file all appropriate forms on time.
Contact Advance Tax Relief. We can help you through the process.
.
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 that 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 as one of the best tax relief companies nationwide.
#TaxDebtHelp #FilingBackTaxesHelp #TaxReliefHouston #BackTaxRelief
#TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes #OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES
Back Tax Help, Tax Lien Relief, Tax Relief, Tax Help, Small Business Tax Preparation
Have you received IRS Letter 3172, Notice of Federal Tax Lien Filing and Your Right to a Hearing under IRC 6320? That means the IRS has determined you owe a tax debt, which you have neglected or failed to pay. Now they put a lien on your property so you can’t sell or refinance any of it until you pay up or make a deal.
You can appeal this action by using the Collection Due Process (CDP) or the Collection Appeals Program (CAP).
What is a federal tax lien, you say? Read on to learn what a lien is and how it can affect your financial welfare. Then we’ll go into how CDPs and CAPs work.
What Is a Federal Tax Lien?
If you refuse or neglect to pay your taxes in full and on time, the IRS will file a public document called the Notice of Federal Tax Lien (NFTL). Your creditors now know the government has just stepped in line ahead of them. It’s also a sign to potential creditors that your creditworthiness is in question.
A federal tax lien is the government’s legal claim against any property you own. The lien isn’t placed against any specific property; it can be real estate, personal property, or financial or business assets.
NEED HELP WITH BACK TAX DEBT, UNFILED TAX RETURNS OR SMALL BUSINESS TAX PREPARATION?
ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965
Overview of the Federal Tax Lien Process
The IRS files for a lien regarding a specific type of tax and period.
The IRS then has five (5) business days to send that Notice of Federal Tax Lien.
The letter gives you the option to request a CDP or a CAP by a specific date listed in the letter.
If you decide to go for a CDP:
File IRS Form 12153. Request for Collection Due Process or Equivalent Hearing.
Make the request within 30 days after the five business day timeframe for the lien filing.
If you win your appeal, the IRS decides whether to keep the tax lien in place, or release, withdraw, discharge, or subordinate it. (We’ll get back to these terms.)
An alternative to filing Form 12153 or send a written request for a hearing, including all the information required on the form, as well as a copy of the tax lien notice.
Otherwise, you can go for a CAP.
When to Consider Appealing
When filing for bankruptcy and the taxes are subject to an automatic stay.
In cases of withdrawal, subordination, or discharge of the lien.
If the IRS made an error in the lien filing process or made a processing error and filed the tax lien in your name by mistake.
You paid your taxes in full before the IRS filed their lien.
The statute of limitations (10 years) has expired on the debt before the IRS filed a lien.
The IRS never let you dispute the amount owed.
Your spouse is solely responsible for the tax debt, and you can claim Innocent Spouse Relief.
You want an installment agreement or Offer in Compromise.
Requesting a Collection Due Process (CDP)
First, you fill out Form 12153 or make a written request, as explained above. Include all contact and tax debt information and a copy of the lien notice.
Specify if you want lien subordination, discharge, or withdrawal and explain why the IRS should comply with your request.
Subordination doesn’t remove a lien but allows other creditors to move ahead of the IRS. It’s easier to get a loan or mortgage this way.
The discharge removes the lien from a specific piece of property. Now you can sell it to pay your tax debt.
Withdrawal removes the public Notice for Federal Tax Lien and assures creditors the IRS is not competing with other creditors for your property. You still need to pay the tax debt.
Next, specify the arrangements for paying the tax debt.
You can enter into an installment agreement or Offer in Compromise.
You can let the IRS know you can’t possibly pay the balance.
Or you can offer another reason why the lien should be released.
Once you file, an IRS office schedules a meeting. You might get other letters or have meetings with the IRS Office of Appeals. Then the Office of Appeals either grants your request or decides the lien should remain filed.
If your request is denied, you can request a judicial review from the U.S. Tax Court. Your petition must come within 30 days of the date the Appeals Office issues a determination letter. If you don’t make it on time, you can’t go to court even if you don’t agree with the decision.
What if you miss the 30-day deadline for requesting a CDP? You can request an equivalent hearing using the same form. Or you can write a letter.
For an equivalent hearing, you have one year plus five business days after the Notice of Federal Tax Lien to ask for one.
Requesting a Collections Appeal Program (CAP)
A CAP is faster than a CDP, but you can't request a judicial review if you disagree with the final determination. Also, you can't challenge the existence or total of the tax debt.
A CAP can be requested before or after the IRS files for a lien. At the same time, you can get a hearing on a denial, withdrawal, subordination, or discharge.
If you have no contact with a revenue officer:
Call the number on your letter to explain why you don’t agree with the lien.
Offer a solution for clearing your tax debt.
If you can’t reach an agreement with the representative, state that you want to appeal. A manager should call within 24 hours.
If you still disagree, the manager forwards to the case to the Office of Appeals.
If you have contact with a revenue officer:
Speak with the officer. If you differ with that person, request a conference with the Collection Manager.*
If you disagree with the Collection Manager’s decision, submit Form 9423 Collection Appeal within three (3) business days after conferencing with him or her.
If you don’t hear from the Collection Manager within two business days of your request to speak, reach out again or submit Form 9423, noting the time of the conference call request. Indicate the Collection Manager or subordinate did not call along with the date of the request.
* Let the revenue officer know you want a CAP appeal within two (2) business days after meeting with the Collection Manager.
Representation
Who should represent you during this time? You can represent yourself if you feel confident you know what you’re doing.
Better yet, ask a tax professional to represent you. The IRS prefers working with qualified tax professionals anyway. They tend to be more familiar with the appeals process.
COVID-19 Tax Relief
The IRS People First Initiative, which was announced in March of this year, offers relief for taxpayers with filed Notices of Federal Tax Lien or who need assistance with a lien program request.
You can appeal a Federal Tax Lien. Be sure to file all appropriate forms on time.
Contact Advance Tax Relief. We can help you through the process.
.
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 that 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 as one of the best tax relief companies nationwide.
#TaxDebtHelp #FilingBackTaxesHelp #TaxReliefHouston #BackTaxRelief
#TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes #OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES
Monday, July 20, 2020
TAX TIPS FOR THE SELF-EMPLOYED (RESOLVE BACK TAX DEBTS)
Small Business Tax Preparation, Tax Debt Help, Tax Relief
Advance Tax Relief provides assistance to individuals struggling with unmanageable IRS tax burdens. To assess your tax situation and determine if you qualify for tax relief, contact us for a free consultation.
As a 1099 earner, it can sometimes seem like there are more rules to follow when filing taxes and more responsibilities to manage compared to someone that is a W-2 earner. It can even seem confusing at times when filling out certain paperwork or figuring out how to report all your income to the IRS.
NEED HELP WITH BACK TAX DEBT, UNFILED TAX RETURNS OR SMALL BUSINESS TAX PREPARATION?
ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965
Here are a few simple tips to help you get prepared for next tax season:
Estimate your business income. This may seem difficult to do if you have no idea where to start, but the best way to figure out how much you will be making for the tax year and how much you should be paying in estimated tax payments is by referring to your tax return from the year before. This will give you an idea on what to expect when filing your tax return and what to pay in taxes.
Organize your expenses. Don’t just leave all your receipts lying around the floor or tossed in the backseat of your car. Consider automating your expenses by using a finance software where you can digitally upload copies of receipts and that synchronizes with your bank accounts so it can view any payments that were made towards your business. This not only saves you time but prevents you from making a mistake when filing your taxes.
Track your mileage. If you’ve been using your vehicle for anything work-related, make sure to track the mileage that you are using. It’s also important to keep a record of any gas, oil, and maintenance expenses that you accrue throughout the tax years.
Take a home office deduction. The IRS created the Simplified Home Office Deduction for taxpayers that own a small business from their home. If you have a qualified home office, you can deduct some of your otherwise nondeductible expenses. Here are some expenses that you can deduct:
Home insurance
Utilities
Rent
Forecast any future expenses in advance. Being self-employed means that it is your responsibility to purchase your own goods and equipment ahead of time in order to avoid any delays that could harm the amount of profit you receive.
Forecasting your expenses ahead of time will allow you to understand how much money will need to be allocated to purchase these goods and still have enough left over to not only pay yourself but also your taxes.
If you need tax help, contact us for a free consultation.
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 that 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 as one of the best tax relief companies nationwide.
#TaxDebtHelp #FilingBackTaxesHelp #TaxReliefHouston #BackTaxRelief
#TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes #OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES
Advance Tax Relief provides assistance to individuals struggling with unmanageable IRS tax burdens. To assess your tax situation and determine if you qualify for tax relief, contact us for a free consultation.
As a 1099 earner, it can sometimes seem like there are more rules to follow when filing taxes and more responsibilities to manage compared to someone that is a W-2 earner. It can even seem confusing at times when filling out certain paperwork or figuring out how to report all your income to the IRS.
NEED HELP WITH BACK TAX DEBT, UNFILED TAX RETURNS OR SMALL BUSINESS TAX PREPARATION?
ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965
Here are a few simple tips to help you get prepared for next tax season:
Estimate your business income. This may seem difficult to do if you have no idea where to start, but the best way to figure out how much you will be making for the tax year and how much you should be paying in estimated tax payments is by referring to your tax return from the year before. This will give you an idea on what to expect when filing your tax return and what to pay in taxes.
Organize your expenses. Don’t just leave all your receipts lying around the floor or tossed in the backseat of your car. Consider automating your expenses by using a finance software where you can digitally upload copies of receipts and that synchronizes with your bank accounts so it can view any payments that were made towards your business. This not only saves you time but prevents you from making a mistake when filing your taxes.
Track your mileage. If you’ve been using your vehicle for anything work-related, make sure to track the mileage that you are using. It’s also important to keep a record of any gas, oil, and maintenance expenses that you accrue throughout the tax years.
Take a home office deduction. The IRS created the Simplified Home Office Deduction for taxpayers that own a small business from their home. If you have a qualified home office, you can deduct some of your otherwise nondeductible expenses. Here are some expenses that you can deduct:
Home insurance
Utilities
Rent
Forecast any future expenses in advance. Being self-employed means that it is your responsibility to purchase your own goods and equipment ahead of time in order to avoid any delays that could harm the amount of profit you receive.
Forecasting your expenses ahead of time will allow you to understand how much money will need to be allocated to purchase these goods and still have enough left over to not only pay yourself but also your taxes.
If you need tax help, contact us for a free consultation.
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 that 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 as one of the best tax relief companies nationwide.
#TaxDebtHelp #FilingBackTaxesHelp #TaxReliefHouston #BackTaxRelief
#TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes #OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES
Saturday, July 18, 2020
WAYS TO AVOID A TAX LIEN WHEN YOU HAVE BACK TAXES
Back Tax Lien, Tax Relief, Back Tax Debt Help, Tax Attorneys
A tax lien, not to be confused with a tax levy, is a hold that the IRS places against some or all your assets. By doing so, the IRS is attempting to ensure that it receives payment for the unpaid taxes that you owe.
But there are five circumstances by which taxpayers can potentially avoid an IRS tax lien. A tax professional like those from Advance Tax Relief can help you determine the best method to avoid a tax lien or a more serious tax levy.
PAY THE TAXES IN FULL
If you can afford to pay the taxes that you owe in full, you can stop an IRS lien in its tracks. The IRS allows you to make payments directly from your bank account or by debit or credit card through a third-party processing service. You may also use the Electronic Federal Tax Payment System (EFTPS) to make a secure electronic payment. Or you may go the low-tech route and mail a check or money order, or deliver your payment in-person to your local IRS office.
NEED HELP WITH BACK TAX DEBT, UNFILED TAX RETURNS OR SMALL BUSINESS TAX PREPARATION?
ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965
ENTER INTO A PAYMENT ARRANGEMENT WITH IRS
If you cannot pay your entire tax balance in full, but owe less than $10,000, you may still avoid a tax lien. By entering into a Guaranteed Installment Agreement, you set an agreement by which the IRS will receive your entire tax balance due in monthly installment payments. The amount of each monthly payment and the length of the entire installment agreement vary according to how much tax you owe.
SET UP A STREAMLINE INSTALLMENT AGREEMENT
If you owe between $10,000 and $25,000 in unpaid taxes, you can still avoid a tax lien from the IRS. A Streamlined Installment Agreement works much the same way as a Guaranteed Installment Agreement. The end result is the same; you eventually pay the entire amount that you owe in federal income taxes.
PAY DOWN YOUR TAX BALANCES
If you owe more than $25,000 in back taxes to the IRS, you must pay down your balance to less than $25,000 to avoid a federal tax lien. This payment must take place before a lien is imposed. Once your unpaid tax balance is below $25,000, you may enter into a Streamlined Installment Agreement.
FILE AN OFFER IN COMPROMISE
If you can only afford to pay a portion of your back federal taxes, you may still avoid a tax lien by filing an Offer in Compromise. If accepted, an Offer in Compromise allows you to settle your tax obligation with the IRS for less than the total federal taxes owed. But you should be forewarned: the IRS is stringent about accepting Offers in Compromise. The process for reviewing Offer in Compromise applications can be lengthy. There is also no guarantee that the IRS would not impose a tax lien while you are waiting for a decision on your Offer in Compromise application
.
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 that 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 as one of the best tax relief companies nationwide.
#TaxDebtHelp #FilingBackTaxesHelp #TaxReliefHouston #BackTaxRelief
#TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes #OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES
Thursday, July 16, 2020
HOW LIKELY I’M I TO BE AUDITED BY THE IRS?
Tax Debt Help, Tax Relief, Tax Audit Help, Unfiled, Tax Returns
With tax season officially behind us, many filers are keeping an eye on their mailbox for their refund checks. But what happens if there’s a problem with your returns, and the Internal Revenue Service (IRS) decides to audit you?
What is an IRS audit?
At its core, an IRS audit is a close examination of your tax returns and financial information to ensure that you’ve reported everything correctly according to that year’s tax laws.
How likely am I to be audited by the IRS?
Two words: highly unlikely. According to IRS statistics, 0.6% of filers were audited last year – just over one (1) million out of 196 million people. Going back to their own data, it’s generally people in higher tax brackets or those who file no income at all who are most likely to be audited by the IRS. However, there are a few things you could do – unintentionally or not – that could easily trigger an audit.
NEED HELP WITH BACK TAX DEBT, UNFILED TAX RETURNS OR SMALL BUSINESS TAX PREPARATION?
ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965
Making simple math errors. Mistakes can happen to anyone, but if you make them on your taxes, they could cost you heavy fines.
Not reporting some of your income. It can be tempting to omit cash from a side hustle, but the chances are better than average that the person or business paying you that cash on the side has generated a 1099 form to keep track of the transactions. Find out what needs to be included on your 1099.
Not having the proper documentation for charitable giving. There are two (2) simple rules to remember when it comes to claiming charitable donations on your tax returns: (a) don’t file fake donations, and (b) make sure you have the right documentation for any charitable donations you do include.
Rounding up to even numbers. Rather than guesstimating deductions or extra income to round numbers, be exact with your calculations.
Being contacted by the IRS about an audit can be very
unnerving. That’s why we urge you to contact the experts at
Advance Tax Relief to discuss your case with one of our tax relief attorneys in houston texas.
Advance Tax Relief provides assistance to individuals struggling with unmanageable IRS tax burdens. To assess your tax situation and determine if you qualify for tax relief, contact us for a free consultation.
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.
#TaxDebtHelp #FilingBackTaxesHelp #TaxReliefHouston #BackTaxRelief
#TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes #OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES
With tax season officially behind us, many filers are keeping an eye on their mailbox for their refund checks. But what happens if there’s a problem with your returns, and the Internal Revenue Service (IRS) decides to audit you?
What is an IRS audit?
At its core, an IRS audit is a close examination of your tax returns and financial information to ensure that you’ve reported everything correctly according to that year’s tax laws.
How likely am I to be audited by the IRS?
Two words: highly unlikely. According to IRS statistics, 0.6% of filers were audited last year – just over one (1) million out of 196 million people. Going back to their own data, it’s generally people in higher tax brackets or those who file no income at all who are most likely to be audited by the IRS. However, there are a few things you could do – unintentionally or not – that could easily trigger an audit.
NEED HELP WITH BACK TAX DEBT, UNFILED TAX RETURNS OR SMALL BUSINESS TAX PREPARATION?
ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965
Making simple math errors. Mistakes can happen to anyone, but if you make them on your taxes, they could cost you heavy fines.
Not reporting some of your income. It can be tempting to omit cash from a side hustle, but the chances are better than average that the person or business paying you that cash on the side has generated a 1099 form to keep track of the transactions. Find out what needs to be included on your 1099.
Not having the proper documentation for charitable giving. There are two (2) simple rules to remember when it comes to claiming charitable donations on your tax returns: (a) don’t file fake donations, and (b) make sure you have the right documentation for any charitable donations you do include.
Rounding up to even numbers. Rather than guesstimating deductions or extra income to round numbers, be exact with your calculations.
Being contacted by the IRS about an audit can be very
unnerving. That’s why we urge you to contact the experts at
Advance Tax Relief to discuss your case with one of our tax relief attorneys in houston texas.
Advance Tax Relief provides assistance to individuals struggling with unmanageable IRS tax burdens. To assess your tax situation and determine if you qualify for tax relief, contact us for a free consultation.
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.
#TaxDebtHelp #FilingBackTaxesHelp #TaxReliefHouston #BackTaxRelief
#TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes #OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES
Thursday, July 9, 2020
WHAT CAN HAPPEN IF YOU FAIL TO FILE YOUR TAX RETURN?
Unfiled Tax Returns, Small Business Tax Preparation, Tax Debt Help, Tax Relief Attorneys
It is not hard to fall behind on your taxes. This can happen for a number of different reasons, such as you were unable to afford any tax services, you simply forgot about the tax deadline, or you suffered a serious illness which left you unable to file your tax return.
It can be easy to avoid filing your tax return and ignore any serious repercussions – until the IRS starts sending you notices informing you of your unfiled tax years or a delinquent debt you have failed to pay. The IRS has the ability to take action against you for failure to file so it is important to know what the possible consequences could be for not filing your tax returns.
THE IRS CAN FILE A SUBSTITUTE TAX RETURN FOR YOU WHICH COULD RESULT IN A HIGHER TAX DEBT
The IRS can file a Substitute for Return, or SFR, on your behalf if they notice a failure to file for any tax year or years. The IRS does not file an SFR as a courtesy for those who fail to file their tax return and will not include any exemptions or deductions. Because of this, filed SFRs can reflect that a taxpayer owes a tax liability. The IRS will also send out an informative collection notice stating that a substitute return was filed or if there is a tax balance associated with the SFR.
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 HAVE NO TIME LIMIT TO COLLECT FROM YOU
When it comes to the IRS taking collection action, the IRS has no timeline as to when they can stop. Once the IRS assesses a balance against you, they can garnish your wages, levy your bank accounts, and place liens on your physical assets. Just because you have past tax years that are unfiled, it does not mean the IRS has forgotten. It could even mean that the IRS will have the ability to hold you liable for your tax balance for up to 10 years from the date that your balance was assessed.
FAILURE TO FILE CAN BE CONSIDERED A TAX CRIME
For some taxpayers, failing to file your tax return could mean getting in serious trouble. The IRS could consider this a crime and assume that you are evading the liability that they have assessed on your behalf. Consequences for not filing your tax return could mean jail time or fines as high as $250,000.
WHY IT MAKES SENSE TO FILE YOUR MISSING TAX RETURN?
Filing all outstanding tax returns is important in order to avoid having the IRS take collection action against you. Although there is not a time limit for you to file any past tax years, the IRS does put a limit on receiving a refund for a previous tax return. The IRS also allows you to collect on a tax refund for up to three years from the due date of your return.
Filing your tax returns may not be the most exciting thing to do and some may even dread the filing season as it comes every year. Regardless of how you feel about having to file, it is a requirement in order to stay compliant and out of collections with the IRS. If you do have unfiled tax years, it can be beneficial to speak with a tax attorney or a tax resolution company in order to resolve any outstanding debt you have for the unfiled years or any tax debt that was assessed against you when the IRS filed an SFR for you.
Advance Tax Relief provides assistance to individuals struggling with unmanageable IRS tax burdens. To assess your tax situation and determine if you qualify for tax relief, contact us for a free consultation.
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.
#TaxDebtHelp #FilingBackTaxesHelp #TaxReliefHouston #BackTaxRelief
#TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes #OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES
Tuesday, July 7, 2020
TAX HELP TIP FOR PEOPLE WHO ARE SELF-EMPLOYED
Tax Debt Help, Small Business Tax Preparation, Tax Relief Help
Advance Tax Relief provides assistance to individuals struggling with unmanageable IRS tax burdens. To assess your tax situation and determine if you qualify for tax relief, contact us for a free consultation.
As a 1099 earner, it can sometimes seem like there are more rules to follow when filing taxes and more responsibilities to manage compared to someone that is a W-2 earner. It can even seem confusing at times when filling out certain paperwork or figuring out how to report all your income 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
Here are a few simple tips to help you get prepared for next tax season:
Estimate your business income. This may seem difficult to do if you have no idea where to start, but the best way to figure out how much you will be making for the tax year and how much you should be paying in estimated tax payments is by referring to your tax return from the year before. This will give you an idea on what to expect when filing your tax return and what to pay in taxes.
Organize your expenses. Don’t just leave all your receipts lying around the floor or tossed in the backseat of your car. Consider automating your expenses by using a finance software where you can digitally upload copies of receipts and that synchronizes with your bank accounts so it can view any payments that were made towards your business. This not only saves you time but prevents you from making a mistake when filing your taxes.
Track your mileage. If you’ve been using your vehicle for anything work-related, make sure to track the mileage that you are using. It’s also important to keep a record of any gas, oil, and maintenance expenses that you accrue throughout the tax years.
Take a home office deduction. The IRS created the Simplified Home Office Deduction for taxpayers that own a small business from their home. If you have a qualified home office, you can deduct some of your otherwise nondeductible expenses. Here are some expenses that you can deduct:
Home insurance
Utilities
Rent
Forecast any future expenses in advance. Being self-employed means that it is your responsibility to purchase your own goods and equipment ahead of time in order to avoid any delays that could harm the amount of profit you receive. Forecasting your expenses ahead of time will allow you to understand how much money will need to be allocated to purchase these goods and still have enough left over to not only pay yourself but also your taxes.
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.
#TaxDebtHelp #FilingBackTaxesHelp #TaxReliefHouston #BackTaxRelief #TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes #OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES
Advance Tax Relief provides assistance to individuals struggling with unmanageable IRS tax burdens. To assess your tax situation and determine if you qualify for tax relief, contact us for a free consultation.
As a 1099 earner, it can sometimes seem like there are more rules to follow when filing taxes and more responsibilities to manage compared to someone that is a W-2 earner. It can even seem confusing at times when filling out certain paperwork or figuring out how to report all your income 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
Here are a few simple tips to help you get prepared for next tax season:
Estimate your business income. This may seem difficult to do if you have no idea where to start, but the best way to figure out how much you will be making for the tax year and how much you should be paying in estimated tax payments is by referring to your tax return from the year before. This will give you an idea on what to expect when filing your tax return and what to pay in taxes.
Organize your expenses. Don’t just leave all your receipts lying around the floor or tossed in the backseat of your car. Consider automating your expenses by using a finance software where you can digitally upload copies of receipts and that synchronizes with your bank accounts so it can view any payments that were made towards your business. This not only saves you time but prevents you from making a mistake when filing your taxes.
Track your mileage. If you’ve been using your vehicle for anything work-related, make sure to track the mileage that you are using. It’s also important to keep a record of any gas, oil, and maintenance expenses that you accrue throughout the tax years.
Take a home office deduction. The IRS created the Simplified Home Office Deduction for taxpayers that own a small business from their home. If you have a qualified home office, you can deduct some of your otherwise nondeductible expenses. Here are some expenses that you can deduct:
Home insurance
Utilities
Rent
Forecast any future expenses in advance. Being self-employed means that it is your responsibility to purchase your own goods and equipment ahead of time in order to avoid any delays that could harm the amount of profit you receive. Forecasting your expenses ahead of time will allow you to understand how much money will need to be allocated to purchase these goods and still have enough left over to not only pay yourself but also your taxes.
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.
#TaxDebtHelp #FilingBackTaxesHelp #TaxReliefHouston #BackTaxRelief #TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes #OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES
Monday, July 6, 2020
COMMON BACK TAX PROBLEMS TO AVOID
Tax Relief Services, Tax Debt Help, Small Business Tax Preparation
Tax season can be hectic with all that goes into it, making it inevitable for problems to arise. The most minor tax paying errors can have a long-term effect on your finances. By being aware of some common tax problems, you will be less likely to make those same mistakes.
UNFILED TAXES
Not filing your taxes on time is arguably the most common mistake a majority of people make. By having unfiled taxes, you not only suffer from penalties, but also put yourself at the risk of going to jail. The IRS considers this as a form of tax evasion, which federally is an illegal activity. Therefore, make a note on the calendar to ensure you file your taxes on time!
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
INABILITY TO PAY YOUR TAXES
Some people do not pay their taxes because they cannot afford to do so. However, this can result in even more penalties. Fortunately, the IRS has different tax relief services for those with significant tax debt, which allows them to pay or extend their debt and also protect their finances. If you cannot afford to pay what you owe, you should consider looking into the repayment options the IRS makes available.
THE IRS FRESH START PROGRAM
Installment Agreements
Offer In Compromise (OIC)
Currently Not Collectable (CNC)
TAX DEBT PENALTIES
If you are charged for penalties by the IRS, more money goes into settling your account. The IRS has a solution for incurring penalties known as the penalty abatement, which a professional has to request for on your behalf. A penalty abatement is a waiver that the IRS may grant to taxpayers to relieve them from failure-to-pay, failure-to-deposit, and failure-to-file if certain criteria is met. However, to be granted this accessibility, your tax case must meet three requirements:
Reasonable cause
Administrative waiver
IRS error
Incorrect or Missing Information
Leaving out or inputting wrong information is a very common mistake that occurs with taxpayers. It is important to make sure that your social security number, bank account numbers, and filing status are written correctly on all forms. Also, the tendency to leave some boxes blank is also common. If you feel you are struggling significantly, it is best to consult a tax professional.
MATH ERRORS
Math errors are very common, ranging from simple subtraction and addition to more complex computations. Before you submit anything, give yourself some time to review all your math calculations.
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.
#TaxDebtHelp #FilingBackTaxesHelp #TaxReliefHouston #BackTaxRelief #TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes #OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES
Tax season can be hectic with all that goes into it, making it inevitable for problems to arise. The most minor tax paying errors can have a long-term effect on your finances. By being aware of some common tax problems, you will be less likely to make those same mistakes.
UNFILED TAXES
Not filing your taxes on time is arguably the most common mistake a majority of people make. By having unfiled taxes, you not only suffer from penalties, but also put yourself at the risk of going to jail. The IRS considers this as a form of tax evasion, which federally is an illegal activity. Therefore, make a note on the calendar to ensure you file your taxes on time!
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
INABILITY TO PAY YOUR TAXES
Some people do not pay their taxes because they cannot afford to do so. However, this can result in even more penalties. Fortunately, the IRS has different tax relief services for those with significant tax debt, which allows them to pay or extend their debt and also protect their finances. If you cannot afford to pay what you owe, you should consider looking into the repayment options the IRS makes available.
THE IRS FRESH START PROGRAM
Installment Agreements
Offer In Compromise (OIC)
Currently Not Collectable (CNC)
TAX DEBT PENALTIES
If you are charged for penalties by the IRS, more money goes into settling your account. The IRS has a solution for incurring penalties known as the penalty abatement, which a professional has to request for on your behalf. A penalty abatement is a waiver that the IRS may grant to taxpayers to relieve them from failure-to-pay, failure-to-deposit, and failure-to-file if certain criteria is met. However, to be granted this accessibility, your tax case must meet three requirements:
Reasonable cause
Administrative waiver
IRS error
Incorrect or Missing Information
Leaving out or inputting wrong information is a very common mistake that occurs with taxpayers. It is important to make sure that your social security number, bank account numbers, and filing status are written correctly on all forms. Also, the tendency to leave some boxes blank is also common. If you feel you are struggling significantly, it is best to consult a tax professional.
MATH ERRORS
Math errors are very common, ranging from simple subtraction and addition to more complex computations. Before you submit anything, give yourself some time to review all your math calculations.
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.
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Sunday, July 5, 2020
TWO WAYS TO FILE YOUR 2019 TAXES BEFORE JULY 15
With the extended July 15 tax filing deadline just days away, millions of Americans still need to file their taxes. Procrastinating the task of filing taxes is nothing new, but this year, fears around COVID-19 have impacted people’s filing behaviors in new ways.
Here is how people can meet the July 15 extended tax filing deadline and stay safe with Advance Tax Relief:
SCHEDULE TO COME TO THE OFFICE BY CALLING (713)300-3965
Yes, it’s still safe to meet with a tax expert one-on-one. Advance Tax Relief is taking the following measures for a safe in-person experience:
Social distancing of six feet or more
Increased the space between chairs and desks
Frequently disinfecting high-contact areas
Weekly deep cleaning of our office
Option to meet outside of regular office hours for anyone who may be at a higher risk for COVID-19
DROP OFF THE DOCUMENTS AT OUR OFFICE AND PICK UP WHEN READY
Rather than wait in-person while a tax pro prepares the tax return, clients can simply drop off their tax documents and complete the rest of the process remotely. Once the tax pro has prepared the return, the client is even able to approve it online without coming back into the office.
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.
#TaxDebtHelp #FilingBackTaxesHelp #TaxReliefHouston #BackTaxRelief #TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes #OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES
Thursday, July 2, 2020
ARE VEHICLE REPAIRS TAX DEDUCTIBLE?
Answer
Car repairs are tax deductible as part of a group of car-related expenses. However, only certain individuals are eligible to claim a tax deduction related to car expenses. This includes business owners, other self-employed workers, armed forces reservists, and fee-basis government officials, who use a car for business purposes.
Want to know more about when auto repairs are tax deductible? Read on and we’ll explain everything you need to know. We’ll cover who can take the deduction and what counts as a car expense related to tax deductions. Lastly, we’ll help you determine how to claim this deduction.
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
Are auto repairs tax deductible? It depends on who you are.
In addition to self-employed workers there are a few other types of individuals who can write off vehicle repairs on their taxes.
Are car repairs tax deductible
These are:
Armed forces reservists who are traveling up to 100 miles away from their home
Qualified performing artists
Fee-basis state or local government officials
What car expenses are allowed for a tax deduction?
If you use your vehicle for a business purpose, you’re generally allowed to deduct your expenses in one of two ways: either as a mileage deduction or by tallying up actual car expenses.
Here are typical expenses for the tax deduction using the actual car expense method:
Car repairs
Car insurance
Depreciation
Gas and oil
Garage rent
Lease payments (subject to the lease inclusion amount)
Registration fees and licenses
Tires
Tolls and parking fees
Some taxpayers choose to use the mileage deduction instead of calculating the expenses shown above. If you go that route, you’ll be able to deduct $0.58 per mile for your 2019 taxes. Find out more about the mileage deduction rules.
How to write off vehicle repairs and more on your taxes
If you use your car for personal and business use, you’ll first need to figure out how often you use it for each as only the business use will apply. To make this determination, you’ll refer to the miles you drove during the tax year and determine a prorated amount.
For example, if 60% of your miles were driven as part of your business work, then generally 60% of your actual expenses can be counted toward your deduction.
Where you report the information will depend your type of work.
Business owners and self-employed workers will report actual car expenses on a Schedule C.
Other individuals as listed at the top of this article will report this information on Form 2106.
Get help claiming a car expense tax deduction
Want to make sure you’re calculating your expenses and completing your forms correctly? Advance Tax Relief has the expertise to help you.
Whether you choose to work with one of our knowledgeable tax pros or file your taxes with Advance Tax Relief, you can count on Advance Tax Relief to help make sense of your taxes.
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.
#TaxDebtHelp #FilingBackTaxesHelp #TaxReliefHouston #BackTaxRelief #TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes #OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES
Wednesday, July 1, 2020
HOW DO I FILE MY BACK TAX RETURNS?
Tax Consultation, Tax Negotiation and Settlement
You forgot to file your tax return last year or the year before.
Perhaps it’s even been longer than that since the last time you filed a tax return: five years, ten years, or even more. You’d like to get your taxes caught up and everything straightened back out, but you’re not really sure how. How should you handle filing back tax returns?
Step One: Get Past the Block
There are any number of reasons why you might have stopped filing your taxes. Perhaps you knew you owed money, and you didn’t have the funds to pay. Maybe a former spouse was responsible for filing your taxes, and after your divorce or their death, you had no idea how to file the taxes yourself. Maybe you just lost track of your tax documents, had no idea how to file your taxes, and chose not to file–and over time, that negligence compounded. Whatever led to your failure to file your taxes, however, it’s time to get past the block!
You need to file your taxes for a number of reasons. Not filing your taxes can be a felony. Not only that, it may be necessary to buy a home or take out a significant loan. Unfiled taxes could even prevent you from getting health insurance or filling out federal aid forms for your child to attend college. Delinquent taxpayers may even be added to the no-fly list, have their wages garnished, and face other serious problems that limit their lives. Whatever has stopped you from filing your taxes in the past, it’s time to get past it. If you don’t file your return within three years of the return’s due date, you will miss out on any refund you might receive from the IRS.
Step Two: Gather Your Records
Before you can file past tax returns, you’ll need to gather your records for those years. You can fill out Form 4506-T, Request for Transcript of Tax Return, to get your past tax records: W-2s and 1099s that indicate your income during those missing years. Find any information you can about your deductions for those years, as well. The more detailed your records from those years, the better the job you can do of itemizing your deductions. Make sure to consider:
Penalty relief waivers. Did the IRS make an error? Do you have a reasonable reason for why you were unable to file? If so, you may be able to fill out a penalty relief waiver, which could prevent penalties.
Proof of health insurance. You may need to provide proof of health insurance for recent years in order to prevent tax penalties. Contact your insurance company if needed.
Retirement savings and education expenses. Take a look at these statements to see what deductions you could qualify for on those missing years. In some cases, those deductions can significantly reduce your tax burden.
Information about your dependents during those years. What dependents were you responsible for each tax year? Pay particular attention to kids’ ages during the years your taxes went unpaid.
Any self-employment income. Did you have additional income for the years you failed to file? If you had self-employment income over $600, you will need to include the income from those areas as well as information for your W-2’s. Make sure you have gathered all of your 1099 forms as well as your W-2 forms.
Investments and other income. If you had investments that provided income or savings accounts with substantial income, you may need proof of the income from those investments.
Step Three: Look for Qualified Tax Experts
If you’re struggling with unpaid taxes and back tax returns, you may need help from a professional. Tax experts can help guide you through the process and ensure that you receive the support you need through the process–and keep you on the sunny side of the law. If you need a tax expert, whether due to unpaid past taxes or other serious tax concerns, contact Advance Tax Relief today to learn more about the options available to you and how we can help. While you can file your past tax returns through online programs, you may miss out on key deductions and other elements that can help you better understand exactly how much you owe.
Tax experts can also ensure that you have access to key information, including the appropriate tax laws for each year you failed to file. Tax laws change every year, and filing with the wrong laws in place could mean that you just have to turn around and file all over again. Working with the right tax expert, on the other hand, can ensure that you get it right the first time, which means less of a headache for you in the long run. Go in prepared with the right questions, including:
Are you eligible for the IRS Fresh Start Program? The IRS Fresh Start program helps provide relief for individuals with past due tax debt. Under the terms of this program, the IRS will not file a Notice of Federal Tax Lien until a taxpayer has more than $10,000 in tax debt. The program also allows taxpayers who have higher debts, including up to $50,000 of debt, to make monthly payments for up to 6 years. You may also remove the lien if your debt is under $25,000 and you have set up direct debits from your account.
What experience does your accountant have with past due taxes? When you look for an accountant or tax expert, make sure you know you know what experience they have with past due taxes. You want an accountant who can help you avoid any unnecessary fines, penalties, or fees associated with the process.
Are you looking for a qualified tax expert to help handle your unpaid taxes? Contact Advance Tax Relief today to learn more about how we can help you get those unpaid taxes filed and your taxes on track to being paid.
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.
#TaxDebtHelp #FilingBackTaxesHelp #TaxReliefHouston #BackTaxRelief #TaxAttorneysNearMe #IRSLawyer #TaxReliefFirms #OfferInCompromise #TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes #OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES
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