HAVE UNFILED TAX RETURNS? WHAT TO DO..

Filing your taxes is never a fun thing to do, but if you don't file them at all then the IRS will come calling. They have unbridled power to file a return on your behalf in their, not your, best interest.

 

They have powerful collection tools and an unforgiving nature that makes this one of the worst mistakes anyone could make. Getting on their bad side isn’t easy; having years' worth of unfiled returns only adds fuel to the fire!

 

The IRS is always on the lookout for taxpayers who have not filed legally required income or payroll tax returns. If you have unfiled tax returns, it’s only a matter of time before they find out and demand the tax return and their money with penalties and interest! When it gets to a point where the IRS contacts you, the amount they claim you owe will be far greater than the amount you actually owe if you haven’t filed. 

 

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

 

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You don’t want this situation and unfortunately in these circumstances, the amount they claim you owe is what you will have to pay unless you prove otherwise.

 

Before we jump into it, if you have back tax debt or years of unfiled tax returns, contact our firm for a consultation. You won’t have to talk to, or meet with the IRS and our firm can provide the peace of mind you need to resolve your tax issue.

 

The longer you wait, the worse the situation will become. Here are some important steps you can take if you have unfiled returns with the IRS.

 

 

Get Your Documentation

If you’ve been neglecting your taxes for too long, it's time to take care of things. An experienced tax resolution firm can help get things back on track and oftentimes, even if the records are missing or destroyed, there are alternative methods to reconstruct your tax return. However, only a tax resolution professional will be able to accomplish this.

 

If you are missing W2 and 1099 forms from past years an experienced tax resolution pro has the ability to retrieve these as well.

 

Go Through the Numbers

The fear of not having the money to pay has caused many people to avoid filing their returns altogether , but those worries are often misplaced.

According to the IRS statistics approximately one-third (34%) of all unfiled federal tax forms may actually be due a refund! Now that you have all the documentation you need, it is time to run the numbers. And while you may not be able to get exact figures without filing the returns, you can get an idea of how much you might owe.

 

Hire a Professional

Whether you are an individual, partnership or corporation there is a strong temptation to let your past mistakes go. But doing so would put both financial security and freedom at risk - which makes filing those old tax

 

returns seem like tempting fate instead of bravely taking on the challenge ahead! It is a misdemeanor and possible jail time for failing to file legally required income tax returns. Don’t let this happen to you.

 

The IRS will assess a 25% failure to file penalty as well as up to a 25% failure to pay penalty, plus interest. Just filing your return, even if you can’t pay, will save you big time!

 

When you're dealing with back taxes, it's important to have someone on your side who knows what they are doing. A tax resolution professional can give invaluable advice and guidance about how to lower the amount that the IRS claims you owe and the best steps moving forward for your situation.

 

You're not alone in the battle against the IRS. The IRS is ready and waiting for you, so it's best to have an expert on your side who knows how to get the help you need and deserve.

 

A tax resolution professional can give advice about what needs to be done; from gathering documents like W-2s or 1099’s right down to making sure everything looks perfect when filing those unfiled returns.

 

Contacting the IRS on your own is not only a scary thought, it’s highly not recommended, but avoiding them will make your situation worse. When you don't file your taxes and lose track of what's owed to the government it can have devastating consequences for both yourself personally as well as financially. The IRS stores detailed records of everyone in their database

 

and chances are, you are already on their radar due to your lack of compliance.

 

Filing those returns ASAP will go miles in helping you get back on track before any more damage becomes irreversible. Filing your taxes might seem like a daunting task, but there is help for you. The right professional can make things right with the IRS and relieve the stress from this difficult situation.

 

The stress of not filing taxes can be enough to make you lose sleep. What's worse, IRS problems usually affect all aspects of one's life. Do yourself and your sanity a favor by filing your returns now; it isn't nearly as scary or daunting as receiving the final collection letter from the IRS or getting your bank accounts levied.

 

Contact Advance Tax Relief to Help Deal with Back Taxes

If you have a tax levy on your paycheck or the IRS is threatening you with one, you need a tax professional who specializes in tax debt relief on your side.

Seeking professional help when handling back taxes can help you avoid the discussed errors. At Advance Tax Relief, we offer specialized tax resolution services to help you deal with IRS debt.

 

Our experts can help rectify erroneous tax bills and guide you in picking a suitable repayment program. Contact us today (713)300-3965 for back tax filing and tax relief services.

 

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

 

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SELF-EMPLOYED? HOW TO PREPARE FOR TAX TIME AND AVOID GETTING INTO TAX DEBT

One of the biggest stories in the world of business is the growing shift toward self-employment. An ever-increasing number of men and women are saying goodbye to their colleagues, their cubicles, and their corporate overlords, choosing instead to make their own way in life.

 

If you are one of these self-employed individuals or a new member of the gig economy, tax filing season could be more complicated than you think. Instead of merely plugging in the numbers from your W2, you will need to gather multiple forms, crunch the numbers, seek out deductions and look for solutions to tax problems you did not even know existed.

 

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

 

ADVANCE TAX RELIEF LLC

Call (713)300-3965

www.advancetaxrelief.com

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Faced with those difficulties, you will want to start your tax planning early. Here is a step-by-step plan for making the April 18 tax filing deadline a little bit less daunting.

 

Note: If you find yourself in tax debt, owe back taxes, or are under audit, our firm can help negotiate with the IRS and potentially settle your tax debt. As a tax resolution firm, we always recommend that you reach out to a professional who knows how to aggressively negotiate and defend you against the IRS on your behalf. Call us today. Our tax resolution firm can navigate the IRS maze so that you have nothing to worry about.

 

Verify Your Advance Tax Payments

The only thing worse than paying money to the IRS is not getting credit for it. As a self-employed individual or gig worker, you have probably made advanced payment to the tax agency on a quarterly basis, so dig out those canceled checks, grab those receipts and get ready for tax time.

 

When you file your taxes you will need to input the dates you submitted those quarterly payments, and those days may or may not coincide with the formal schedule laid out by the IRS. 

 

Add Up Your Income

Even if you are relying on your clients to issue 1099 forms, it is a good idea to tally up your income on your own. Keep in mind not all clients may issue 1099s, and the ones that do could report inaccurate or incomplete figures, and by adding it up on your own you will be able to catch these problems early, while replacement forms can still be issued. Also, all income received is required to be reported whether or not 1099 is issued.

 

Adding up your income will also serve a number of other purposes, each important to your timely tax filing and the maximizing of your hoped-for refund. For one thing, knowing how much you earned will allow you to maximize retirement plan contributions aimed at the self-employed, big potential savings you might otherwise miss out on. Adding up your earnings will also allow you to estimate your tax due or refund, giving you time to prepare and helping you avoid an unpleasant shock when April 18 rolls around.

 

Tally Your Expenses

The world of self-employment can be taxing, but there are also potential savings to be had. As a self-employed individual or member of the gig economy, you may be able to write off everything from office supplies and furniture to computers and gasoline for your car.

 

Now is the time to tally your expenses so you do not miss out on a valuable deduction when filing season rolls around. Be sure to look at expenses that may have been paid automatically as well, including recurring payments for routine costs like internet access and phone service.

 

Seek Out Additional Deductions

The calendar year may be over, but you still have time to reap some valuable deductions. Now that you know how much you have earned in self-employment income, you have the opportunity to seek out new deductions and maximize the ones you have already taken.

 

If you participate in a retirement program for the self-employed, for instance, you can contribute additional money up to the tax filing deadline, giving you a chance to pile current earnings in and apply them against the taxes that would otherwise be due. These generous tax breaks for retirement savings are among the most valuable for the self-employed, and you still have time to take advantage of them.

 

It goes without saying that you should consult a tax expert for specific questions about retirement plan contributions, possible deductions, and other applicable subjects. Even if you plan to file your own taxes, consulting with an expert could save you a lot of money.

 

Run the Numbers through a Tax Estimator

For many in the self-employed community, early filing is simply not an option. If you have investments in a brokerage account, for instance, you may not receive the tax forms you need until well into February or even March, making tax planning that much more difficult.

 

The fact that your personal tax filing season will likely be delayed is certainly frustrating, but it does not mean you cannot run the numbers on your own. You can estimate your tax bill online using the figures you have already compiled, giving you a good idea of what to expect when the real filing season rolls around.

 

A number of tax preparation companies, including big names like H&R Block and Intuit, provide free online calculators, so you can assess your tax situation well in advance. If you prefer you can simply enter the numbers you do have into your favorite tax filing software program for a fast and easy estimate.

 

Tax filing season is stressful for nearly everyone, but it can be a particularly challenging time for gig workers and the self-employed. From chasing down forms from reluctant clients to finding deductions that will lower the tab, the self-employed and members of the gig economy must overcome many hurdles by the time the tax filing deadline rolls around, and the sooner they get started the easier their lives will be. The tips listed above will help you slay your own personal tax demons, so you can rest easy and focus on building your business.

 

If you find yourself a large surprise tax bill or a collection notice from the IRS, the steps you take next are absolutely critical. Trying to take on the IRS on your own is a dangerous, and potentially expensive thing to do, and you should always contact a tax resolution firm.

 

By working with an expert, you can gain access to vital information about small business settlement programs the IRS offers. You can gain access to the expertise you will need to settle your tax bill for less than you owe and get back in the good graces of the IRS. Time is of the essence when the IRS comes calling, and with the interest and penalty clock ticking you do not have one second to waste. So call us, your tax resolution expert, for a case evaluation.

 

Contact Advance Tax Relief to Help Deal with Back Taxes

If you have a tax levy on your paycheck or the IRS is threatening you with one, you need a tax professional who specializes in tax debt relief on your side.

Seeking professional help when handling back taxes can help you avoid the discussed errors. At Advance Tax Relief, we offer specialized tax resolution services to help you deal with IRS debt.

 

Our experts can help rectify erroneous tax bills and guide you in picking a suitable repayment program. Contact us today (713)300-3965 for back tax filing and tax relief services.

 

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

 

#FreshStartInitiative

#OfferInCompromise

#TaxPreparation 

#TaxAttorneys

#TaxDebtRelief

#TaxHelp 

#TaxRelief

#BestTaxReliefCompanies

TEXAS SMALL BUSINESS OWNER: OWE PAYROLL TAXES? HERE’S WHAT TO DO

Unpaid payroll taxes are a serious matter to the IRS and are some of the worst kinds of back taxes you can owe. If you’re a small business owner with a payroll tax problem, read on to learn what you can do to avoid the IRS crippling your business or worse, shutting your business down completely. 

Already in payroll tax trouble? Contact us to schedule a free, no-obligation consultation and let’s get your payroll tax issue resolved.

Why Small Business Owners Get Into Payroll Tax Trouble In The First Place

 

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

 

ADVANCE TAX RELIEF LLC

Call (713)300-3965

www.advancetaxrelief.com

BBB A+ RATED

 

It’s hard being a small business owner today, trying to pay your employees their paychecks every week, and pay the IRS all those payroll taxes! 

 

 

A lot of times when money is short, you pay the employees first.  It’s a natural thing to do—you need to take care of your employees, even if you have to skip paying yourself!  Besides, if you don’t pay them, they’ll quit and you will have to hire new people all the time.  

 

It can seem easy to “just pay the 941 taxes next pay period” and give yourself a little cash flow cushion, but skipping paying your employees payroll tax deposits is never a good idea. 

 

What happens too often is 1 pay period turns into 2, and 3, and 4, and eventually you’re so deep in payroll tax debt that the only thing you want to do is completely ignore your problem.

 

Except the IRS doesn’t care about your financial problems. They just want you to pay your payroll taxes!

 

The IRS doesn’t care if you can’t pay your employees.  They don’t care if they put your employees out on the street. They don’t care if you can’t collect your receivables.  They don’t care if one of your largest and best customers just went “belly-up”. All they care about is you have money that belongs to them and they will do whatever they have to, even put you out of business, to collect it. They don’t care who you are, or even what business you are in.  

 

Penalties are The Kiss Of Death When It Comes To Back Payroll Taxes

 

Penalties for failing to file and pay your payroll taxes are the “kiss of death” for any small business owner. They tack on penalties totaling 33% in just the first 16 days! And it doesn’t stop there. The IRS adds interest on top of the penalties too. It is not uncommon that a payroll tax liability doubles in short order. And if you don’t pay them or work something out, they will shut you down! It’s much less work for the Revenue Officer, as most are lazy, to simply close you down than work out an arrangement with you.

 

They IRS Will Collect Or They Will Shut You Down

 

It’s as simple as that. The IRS is the most brutal collection agency on the planet. They have more authority than the President of the United States! And they have all the ways and means to do whatever it takes to collect what’s owed to them. You didn’t wake up in the morning, go to work, and say to yourself, I’m not paying my payroll taxes because you didn’t want to.  The money simply wasn’t there. It’s not your fault. One week you’re short of cash. It was a slow week, a customer’s check bounced, or any number of legitimate reasons that just prevent you from paying the IRS. You’re a good person. You figure you will make it up the next week. But then next week comes and goes, and you realize you still don’t have enough money to make that payroll tax deposit. And then the entire situation starts “snow-balling” into an avalanche.

 

Should You Call The IRS To Get Your Payroll Issue Fixed?

 

If you were to call the IRS, and were able to get through after waiting on “hold” for an hour or two, and try to explain your situation—you might as well have a conversation with the wall—because they don’t care. The IRS representative that you’re talking to probably makes less than $20 an hour and is poorly trained. Do you think they ever had to make a payroll in their life? Do you think they know what it’s like running a small business? Do you really think they will have any sympathy for you? 

 

Not only is the answer “NO” but they can also dictate the fate of your case. What they will try to get, while you’re on the phone, is all your personal and financial information. They want to know where you bank; they’ll want to know all about your customers who owe you money, they’ll want to know about the value of all your assets, like your home, cars, motorcycles, etc. Why? Because now they have all the information they need to levy your bank accounts, take your receivables and seize your property.

 

Now that you know you shouldn’t be talking to the IRS because they are not going to help you, you might be wondering what you should do? Where should you turn for help? The smartest thing you can do to protect your business and family is to have someone represent you—someone who deals with the IRS for a living. You need to get help—but not just from anyone—you need help from someone who is an experienced competent professional, and deals with the IRS every day, helping small business owners keep their businesses and settle IRS payroll tax problems.  

 

If you were charged with a serious misdemeanor or felony, would you go to court without a lawyer? You don’t want to represent yourself before the IRS either. You need professional, expert representation. 

Reach out to our firm to get expert tax resolution help. We’ll schedule a no-obligation confidential consultation to explain your options to permanently resolve your tax problem.

 

Once you decide to retain us, we step into your shoes and protect you from the IRS’s abusive tactics. We take over all communications from the IRS on your behalf. You don’t have to speak with the IRS anymore. We do. Not only that—they are not allowed to talk to you once you’ve signed our Power of Attorney! Once they realize you have someone on your side protecting you who knows their tricks as well as they do, they have to step back and follow the law. We can protect you from the IRS harassing you, calling you, showing up at your front door, and levying your bank accounts and other assets!

Contact Advance Tax Relief to Help Deal with Back Taxes

If you have a tax levy on your paycheck or the IRS is threatening you with one, you need a tax professional who specializes in tax debt relief on your side.

Seeking professional help when handling back taxes can help you avoid the discussed errors. At Advance Tax Relief, we offer specialized tax resolution services to help you deal with IRS debt.

 

Our experts can help rectify erroneous tax bills and guide you in picking a suitable repayment program. Contact us today (713)300-3965 for back tax filing and tax relief services.

 

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

 

#FreshStartInitiative

#OfferInCompromise

#TaxPreparation 

#TaxAttorneys

#TaxDebtRelief

#TaxHelp 

#TaxRelief

#BestTaxReliefCompanies