SIGNS THE IRS IS ABOUT TO GARNISH YOUR WAGES OR LEVY YOUR BANK ACC

Automated Collection Service, Tax Debt Relief, Tax Levies and Property Seizures, IRS Seizures, Revenue Officers, Substitute Returns, Unfiled Return

If any of these signs are true, then your fears are real, and you are indeed at risk for an IRS levy on your wages or bank account:

1. Has the IRS sent you a Final Notice of Intent to Levy and Notice of Rights to an Appeals Hearing? This is the granddaddy of all IRS collection notices, and is identified in the upper left hand corner as an LT11 letter. By law the IRS has to send the Final Notice to you before they can levy. After they send you the Final Notice, tax laws then make the IRS wait 30 days to levy. During this 30 day period, you have the right to stop the levy action by requesting that the IRS office of appeals review the case. This is called a Collection Due Process Appeal.

But if the IRS sent you the Final Notice and you did not appeal, they can now levy you at anytime.

If you are unsure if the IRS has sent you the Final Notice of Intent to Levy, we can secure their internal records and transcripts that can tell us how real the risk of levy is.

NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

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2. Has the IRS given you a deadline, and the deadline has passed? Like any good debt collector, the IRS likes putting taxpayers on deadlines. It can be a deadline to get an unfiled tax return in, or to provide the IRS a financial statement on their Form 433A, 433B or 433F. Either way, missed deadlines raises the ire of the IRS. And that, in turn, significantly increases the chance that they will take it out on you with a levy on your wages or bank account. But we can get the IRS the information they are missing.

3. Have you been contacted by an IRS Revenue Officer, but not responded by communicating back in kind? IRS Revenue Officers are the top dogs in IRS collection enforcement. They are local, they and work where you live and work, and have your case because the IRS wants to pay really close attention to you and your tax debt. Ignoring them is done at your peril – don’t do it. If a Revenue Officer has dropped a card off at your house, we need to call her and move the case to resolution. If the Revenue Officer has requested financial records or tax returns, they need to be provided. Remember, when your head is in the mouth of the bear, say nice bear.

4. Do you continue to owe the IRS year after year? The IRS calls this “pyramiding” – every year, the pyramid of your tax debts grows bigger. The IRS can work with us if we stop the problem – what’s done is done. But not getting into compliance and paying taxes going forward results in little mercy from the IRS. Simply put, there is no negotiating to stop them when the problem has not stopped.

If you are self-employed, that means making estimated tax payments. To do that, I recommend that we open up a new, separate bank account, and name it your estimated tax account. Every time you get paid from a customer, we want to take a percent of that payment off the top and escrow it in your estimated tax account. That percent is simple: It is calculated on the ratio of your gross income to your taxes. For example, you are paid $80,000 gross in a year, and that results in a $8,000 in taxes owed to the IRS, your tax rate is 10% of your gross income.

So every time you get paid, 10% of that check would get set aside for the IRS in the estimated tax account. You pay as you go, pay as you get paid. Demonstrating to the IRS that you are setting money aside in an estimated tax account truly can take the sting out of past mistakes.

5. If you have unfiled tax returns, the IRS will not hold back until you get in compliance. This is like not paying year after year. An end has to be put on the problem to negotiate out of it. If you have unfiled tax returns, the IRS will not relent until you get them filed. And how does the IRS get your attention to get those returns filed? They will levy your wages and bank accounts.

Even worse, if you do not file the returns, the IRS has the law on its side in being able to start an investigation and prepare the returns for you. The IRS calls this a Substitute for Return. It is an IRS estimate of your tax liability, and usually result in you owing much, much more than if you filed the return on your own. The good news is that in most circumstances the IRS will still accept the original return after they have filed a Substitute for Return. But problems with getting your returns in is a sure-fire way to provoke the IRS into levying you.

If you have the risk factors for an IRS levy, they can be reduced or eliminated. Even if the IRS sent a Final Notice of Intent to Levy, in most cases they will allow up to a year to file a collection due process appeal late, which will stop the levies. Missed deadlines can sometimes be renegotiated, the sooner the contact after the deadline the better. And if you are going to miss a deadline, call and ask for more time – good faith requests for extensions are usually granted. Revenue Officers need contact, and want what you want – to close a case file.

We need to help the IRS do their job, not restrict it or make it harder. And regardless of past mistakes, escrowing current taxes can be done, and unfiled returns can be prepared to place you in compliance.

Remember, the IRS levies for a reason. With the proper steps, the risk factors of levy can be taken away from the IRS, and an account in the IRS’s active collection enforcement inventory can be put to rest, giving you peace from having to look over your shoulder.

GET TAX RELIEF HELP TODAY

If you think that you may need help filing your 2018/2019 tax return or past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.

Advance Tax Relief is headquartered in Houston, TX 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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CAN THE IRS VISIT YOU AT YOUR HOME OR BUSINESS?

Yes, the IRS can visit you. But this is rare, unless you have a serious tax problem.

If the IRS is going to visit you, it’s usually one of these people:

IRS REVENUE AGENT: This person conducts audits at your business or home.

IRS REVENUE OFFICER: This person collects back taxes and enforces the filing of back tax returns. The IRS usually sends revenue officers to collect taxes when taxpayers haven’t set up a payment agreement with the IRS, and they owe a large amount of taxes (over $100,000 for an individual), back payroll taxes, and/or have unfiled back tax returns.

IRS SPECIAL AGENT: This person conducts IRS criminal investigations, usually for tax evasion. The special agent usually visits with another agent. Special agents can ask questions about your taxes, or they could be gathering evidence from you about another taxpayer – like someone you know or have done business or other transactions with.



All three of these situations are rare

Revenue agents and revenue officers usually call or send a letter before they show up at your home or business. That’s standard operating procedure, so that they spend their time productively with you. Special agents can show up unannounced.

NEED HELP WITH IRS BACK TAXES, FORM 941’S BACK TAX ISSUES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

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CLAIMING YOUR BOYFRIEND OR GIRLFRIEND ON YOUR INCOME TAXES

You can claim a boyfriend or girlfriend as a dependent on your federal income taxes if that person meets the IRS definition of a "qualifying relative."

You can claim a boyfriend or girlfriend as a dependent on your federal income taxes if that person meets the Internal Revenue Service's definition of a "qualifying relative."

Don't get tripped up by the word "relative" here—according to the IRS, it can include an unrelated person who passes the four following tests concerning residency, income, support and status.

IS YOUR PARTNER AN OFFICIAL RESIDENT?

Your boyfriend or girlfriend must be a member of your household, meaning that he or she lived with you for the entire calendar year.

The law makes exceptions for temporary absences, such as vacations and medical treatment, but your home must have been that person's official residence for the full year.
However, if your living situation violates local law, you cannot claim that individual as a dependent. In some states, "cohabitation" by unmarried people is against the law.

NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

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HOW MUCH DOES YOUR PARTNER EARN?

If your boyfriend or girlfriend has gross income above a certain amount, you cannot claim that person as a dependent.

Gross income is any income from any source that's subject to tax, whether it's wages, interest on a bank account or other types of taxable income. The limit for gross income limit  varies from year to year; for the 2019 tax year, the income limit is $4,200.

Also, you cannot generally claim a married person as a dependent if they file a joint return with their spouse.

HOW MUCH MONEY DO YOU SPEND ON YOUR PARTNER?

You must have paid more than half of your partner’s living expenses during the calendar year for which you want to claim that person as a dependent.

When calculating the total amount of support, you must include not only money received from you and other people but also from the individual’s own funds. In other words, if your partner took money from a savings account to pay for food, housing or other living expenses, and the total amount withdrawn is more than half of the person's living expenses, you cannot claim that individual as a dependent.

GET TAX RELIEF HELP TODAY

Advance Tax Relief is headquartered in Houston, TX.  We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.

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

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CAN’T PAY YOUR YOUR 2020 TAX BILL?

While many Americans get a tax refund from the IRS each year, some taxpayers owe. Sometimes the bill can be too large for some individuals to pay at once, so the IRS has several flexible options.

HOW DO I PAY WHEN I FILE?

Your payment options depend on if you file online or through the mail.

Electronic Withdrawal: Provide your bank’s routing number and your account number to have the amount withdrawn on a date of your choosing any time before Tax Day (typically April 15).

Credit Card: If you would rather pay with your credit card, there are several third-party payment companies who can process your payment. You can learn more about paying your taxes with a credit card here. 

If you owe state taxes, some states allow you to pay directly on their website using debit, credit, or electronic funds transfer.

If you need to mail in your payment, you can pay using check or money order. 

NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

ADVANCE TAX RELIEF LLC
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WHAT IF I CAN’T PAY WHEN I FILE?

First, it’s important to understand that you are still required to file your tax return on time even if you can’t pay the taxes you owe on time. Filing on time will prevent you from being charged late filing penalties.

If you can’t pay your taxes when you file, you have several options. You can schedule an automatic payment from your bank, like many people do with regular bills. Make sure you schedule the payment before Tax Day! 

If you can’t pay in full by Tax Day, the IRS offers several payment plans. You can apply for a payment plan with the IRS here.

Short-term payment plan:
If you can pay your bill in full in less than 120 days, apply for this plan to pay monthly automatic payments. 

Long-term payment plan (installment agreement) option 1:
If you need more than 120 days to pay, use this plan to pay through direct debit (automatic monthly payments from your checking account). 

Long-term payment plan (installment agreement) option 2:
This plan is very similar to the plan above, but includes multiple payment options, including:

Monthly payment directly from a checking or savings account (Direct Pay)
Monthly payment electronically online or by phone using Electronic Federal Tax Payment System (EFTPS)
Monthly payment by check, money order, or debit/credit card (Fees apply when paying by card)
Change an existing payment plan:
If your current plan is not working for you or you owe more money, you can revise it online, by phone, mail, or in person.

Reinstate a payment plan:
If you previously had a payment plan and need to reinstate it for the current tax year, you can apply to use your same plan again. 

Offer in Compromise:
If you meet strict IRS requirements, you might be able to settle your tax bill for less than the full amount you owe. 

First Time Penalty Abatement:
If you meet certain guidelines, you might be able to waive failure-to-file and failure-to-pay penalties. 

What if I don’t pay my taxes? 
If you fail to pay your tax bill by Tax Day, you will begin to incur penalties and fees beginning the day after you fail to pay. 

Some of the more serious consequences include: 

A federal tax lien can be filed against your property.
Your salary/accounts can be seized through a tax levy.
You can be served a summons asking you to provide more information.

GET TAX RELIEF HELP TODAY

Advance Tax Relief is headquartered in Houston, TX.  We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more.

Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.

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

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SOME TAX TIPS AND DEDUCTIONS FOR 2020

OVERVIEW

Your tax bill isn't chiseled in stone at the end of the year. Here are some tax tips and steps you can take after January 1 to help you lower your taxes, save money when preparing your tax return, and avoid tax penalties.

UPDATE: The Treasury recently announced tax changes and updates in response to COVID-19, updates include an extension of the first installment of tax year 2020 quarterly estimated taxes to July 15, 2020. Some information in this post however requires additional IRS guidance and may require updating. We will update as soon as we receive additional guidance. Please see the latest information on tax deadlines and updates related to COVID-19 here.

If you think your tax bill is chiseled in stone at the end of the year, think again. Though it’s true that most money-saving options to defer income or accelerate deductions become much more limited after December 31, there is still a lot you can do to make the tax-filing season cheaper and easier.
Here are some tax tips to help you lower your taxes, save money when preparing your tax return, and avoid tax penalties.

NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

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1. Contribute to retirement accounts
If you haven’t already funded your retirement account for 2019, do so by April 15, 2020. That’s the deadline for contributions to a traditional IRA, deductible or not, and to a Roth IRA.

If you have a Keogh or SEP and you get a filing extension to October 15, 2020, you can wait until then to put 2019 contributions into those accounts.

To start tax-free compounding as quickly as possible, however, don’t dawdle in making contributions.

Making a deductible contribution will help you lower your tax bill this year. Plus, your contributions will compound tax-deferred. It’s hard to find a better deal.

If you put away $5,000 a year for 20 years in an investment with an average annual 8% return, your $100,000 in contributions will grow to $247,000.

The same investment in a taxable account would grow to only about $194,000 if you’re in the 25% federal tax bracket (and even less if you live in a state with a state income tax to bite into your return).

To qualify for the full annual IRA deduction in 2019, you must:
not be eligible to participate in a company retirement plan, or
If you are eligible, you must have adjusted gross income of $64,000 or less for singles, or $103,000 or less for married couples filing jointly.

If you are not eligible for a company plan but your spouse is, your traditional IRA contribution is fully-deductible as long as your combined gross income does not exceed $193,000.
For 2019, the maximum IRA contribution you can make is $6,000 ($7,000 if you are age 50 or older by the end of the year). For self-employed persons, the maximum annual addition to SEPs and Keoghs for 2019 is $56,000.

Although choosing to contribute to a Roth IRA instead of a traditional IRA will not cut your 2019 tax bill—Roth contributions are not deductible—it could be the better choice because all withdrawals from a Roth can be tax-free in retirement.

Withdrawals from a traditional IRA are fully taxable in retirement. To contribute the full $6,000 ($7,000 if you are age 50 or older by the end of 2019) to a Roth IRA, you must earn $122,000 or less a year if you are single or $193,000 if you’re married and file a joint return.

The amount you save for making a contribution will vary. If you are in the 25% tax bracket and make a deductible IRA contribution of $6,000, you will save $1,500 in taxes the first year. Over time, future contributions will save you thousands, depending on your contribution, income tax bracket, and the number of years you keep the money invested.


2. Make a last-minute estimated tax payment
If you didn’t pay enough to the IRS during the year, you may have a big tax bill staring you in the face. Plus, you might owe significant interest and penalties, too.

According to IRS rules, you must pay 100% of last year’s tax liability or 90% of this year’s tax or you will owe an underpayment penalty.

If your adjusted gross income for 2018 was more than $150,000, you have to pay more than 110% of your 2018 tax liability to be protected from a tax year 2019 underpayment penalty.

If you make an estimated payment by January 15, you can erase any penalty for the fourth quarter, but you still will owe a penalty for earlier quarters if you did not send in any estimated payments back then.

But, if your income windfall arrived after August 31, 2019, you can file Form 2210: Underpayment of Estimated Tax to annualize your estimated tax liability, and possibly reduce any extra charges.

A note of caution: Try not to pay too much. It’s better to owe the government a little rather than to expect a refund. Remember, the IRS doesn’t give you a dime of interest when it borrows your money.

3. Organize your records for tax time
Good organization may not cut your taxes. But there are other rewards, and some of them are financial. For many, the biggest hassle at tax time is getting all of the documentation together. This includes last year’s tax return, this year’s W-2s and 1099s, receipts and so on.

How do you get started?

Print out a tax checklist to help you gather all the tax documents you’ll need to complete your tax return.
Keep all the information that comes in the mail in January, such as W-2s, 1099s and mortgage interest statements. Be careful not to throw out any tax-related documents, even if they don’t look very important.

Collect receipts and information that you have piled up during
the year.

Group similar documents together, putting them in different file folders if there are enough papers.

Make sure you know the price you paid for any stocks or funds you have sold. If you don’t, call your broker before you start to prepare your tax return.

Know the details on income from rental properties. Don’t assume that your tax-free municipal bonds are completely free of taxes. Having this type of information at your fingertips will save you another trip through your files.

4. Find the right tax forms
You won’t find all of them at the post office and library. Instead, you can go right to the source online.
View and download a large catalog of forms and publications at the Internal Revenue Service website or have them sent to you by mail.
You can search for documents as far back as 1980 by number or by date.
The IRS also will direct you to sites where you can pick up state forms and publications.

5. Itemize your tax deductions
It’s easier to take the standard deduction, but you may save a bundle if you itemize, especially if you are self-employed, own a home or live in a high-tax area.
Itemizing is worth it when your qualified expenses add up to more than the 2019 standard deduction of $12,200 for singles and $24,400 for married couples filing jointly.
Many deductions are well known, such as those for mortgage interest and charitable donations.
You can also deduct the portion of medical expenses that exceed 7.5% of your adjusted gross income for 2019 (10% of AGI beginning in 2020).

6. Don't shy away from a home office tax deduction
The eligibility rules for claiming a home office deduction have been loosened to allow more self-employed filers to claim this break. People who have no fixed location for their businesses can claim a home office deduction if they use the space for administrative or management activities, even if they don’t meet clients there.

As always, you must use the space exclusively for business.
Many taxpayers have avoided the home office tax deduction because it has been regarded as a red flag for an audit. If you legitimately qualify for the deduction, however, there should be no problem.

\You are entitled to write off expenses that are associated with the portion of your home where you exclusively conduct business (such as rent, utilities, insurance and housekeeping). The percentage of these costs that is deductible is based on the square footage of the office to the total area of the house.
A middle-class taxpayer who uses a home office and pays $1,000 a month for a two-bedroom apartment and uses one bedroom exclusively as a home office can easily save $1,000 in taxes a year. People in higher tax brackets with greater expenses can save even more.

One home office trap that used to scare away some taxpayers has been eliminated.

In the past, if you used 10% of your home for a home office, for example, 10% of the profit when you sold did not qualify as tax-free under the rules that let homeowners treat up to $250,000 of profit as tax-free income ($500,000 for married couples filing joint returns).

Since 10% of the house was an office instead of a home, the IRS said, 10% of the profit wasn’t tax-free. But the government has had a change of heart. No longer does a home office put the kibosh on tax-free profit.

You do have to pay tax on any profit that results from depreciation claimed for the office after May 6, 1997. It’s taxed at a maximum rate of 25%. (Depreciation produces taxable profit because it reduces your tax basis in the home; the lower your basis, the higher your profit.)

7. Provide dependent taxpayer IDs on your tax return
Be sure to plug in Taxpayer Identification Numbers (usually Social Security Numbers) for your children and other dependents on your return. Otherwise, the IRS will deny any dependent credits that you might be due, such as the Child Tax Credit.

Be especially careful if you are divorced. Only one of you can claim your children as dependents, and the IRS has been checking closely lately to make sure spouses aren’t both using their children as a deduction. If you forget to include a Social Security number for a child, or if you and your ex-spouse both claim the same child, it’s highly likely that the processing of your return (and any refund you’re expecting) will come to a screeching halt while the IRS contacts you to straighten things out.

After you have a baby, be sure to file for your child's Social Security card right away so you have the number ready at tax time. Many hospitals will do this automatically for you.
If you don’t have the number you need by the tax filing deadline, the IRS says you should file for an extension rather than sending in a return without a required Social Security number.

8. File and pay on time
If you can’t finish your return on time, make sure you file Form 4868 by July 15, 2020. Form 4868 gives you a six-month extension of the filing deadline until October 15, 2020. On the form, you need to make a reasonable estimate of your tax liability for 2019 and pay any balance due with your request. Requesting an extension in a timely manner is especially important if you end up owing tax to the IRS.

If you file and pay late, the IRS can slap you with a late-filing penalty of 4.5% per month of the tax owed and a late-payment penalty of 0.5% a month of the tax due.
The maximum late filing penalty is 22.5% and the late-payment penalty tops out at 25%.
By filing Form 4868, you stop the clock running on the costly late-filing penalty.


9. File electronically
Electronic filing works best if you expect a tax refund. Because the IRS processes electronic returns faster than paper ones, you can expect to get your refund three to six weeks earlier. If you have your refund deposited directly into your bank account or IRA, the waiting time is even less.

There are other advantages to e-filing besides a fast refund:
The IRS checks your return to make sure that it is complete, which increases your chances of filing an accurate return. Less than 1% of electronic returns have errors, compared with 20% of paper returns.

The IRS also acknowledges that it received your return, a courtesy you don’t get even if you send your paper return by certified mail. That helps you protect yourself from the interest and penalties that accrue if your paper return gets lost.
If you owe money, you can file electronically and then wait until the federal tax filing deadline to send in a check along with Form 1040-V. You may be able to pay with a credit card or through a direct debit.

With a credit card, expect to pay a service charge of as much as 2.5%.

With direct debit, you may delay the debiting of your bank account until the actual filing deadline.

GET TAX RELIEF HELP TODAY

Advance Tax Relief is headquartered in Houston, TX. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.

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

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HOW TO ADDRESS YOUR IRS BACK TAX DEBT PENALTIES

Tax Debt Penalties

IRS penalties, at a glance:

There are many types of IRS tax penalties.

Reasonable cause and first-time abatement are the most common ways to get penalties removed.
It’s common to have to appeal penalty relief denials to get the IRS to look at your specific facts.

You can get expert help with IRS tax penalties.
What you need to know about IRS penalties

The IRS issues about 40 million penalties each year. There are almost 150 types of IRS penalties, but the most common ones are caused by late filing and late payment.

The IRS offers four options for taxpayers to get their penalties removed — if the circumstances fit.

You or your tax professional will need to investigate which options you may be able to use, and request penalty relief from the IRS.
Here’s how it works.

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How to address IRS penalties

1. Understand your options, based on your facts.

Tax penalties are based on the taxes you owe, so make sure you get the tax right first. Start by double checking your return. Consider amending your return if the taxes are incorrect.
Understand the four penalty abatement options:
IRS error
Specific legal exceptions to penalties
Reasonable cause
Administrative waivers
Get the facts on your penalties:
Penalty type(s)
Amounts owed
Year(s) involved
Causes

Based on your situation, identify which penalty relief options you can use. Keep in mind that more than one option may be applicable.

2. Request penalty abatement from the IRS.
Put together your penalty abatement request for the specific option you’re pursuing.
Send your request to the proper unit at the IRS.
Use the right method to submit your request
If you’ve already paid the penalty, you may have to submit a claim-for-refund form.

If you’re requesting an administrative waiver for penalty abatement, you may be able to handle the request with a phone call to the right IRS function.

Respond quickly to any IRS requests for documents supporting your abatement request, and be prepared to argue the merits of your position.

If the IRS denies your request, appeal the decision by the deadline, and argue your position with the IRS Appeals Office.

3. If the IRS denies your request, appeal the decision by the deadline, and argue your position with the IRS Appeals Office.
Most appeals requests should be filed within 30 days of the IRS denial of the original appeal.

You’ll need to provide a chronology of events that caused you to file or pay late. Be specific on dates and provide backup documentation to support your chronology.

You may need to provide the IRS with additional legal arguments, such as a court case that supports your position.
The IRS will ask you how the unforeseen events affected your life and/or work. Be prepared to show how you couldn’t perform other critical tasks, such as making necessary payments for bills and utilities, and meeting personal and work obligations.

4. Prevent future penalties.
Make sure you file accurately and pay your taxes on time in the future.
If you have penalties related to late payments, adjust your withholding and/or make estimated tax payments.

GET TAX RELIEF HELP TODAY
If you think that you may need help filing your 2018/2019 tax return or past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.

Advance Tax Relief is headquartered in Houston, TX. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more.

Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.

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

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THINGS NOBODY TELL YOU ABOUT WHEN YOU START A SMALL BUSINESS

Wondering how to start a small business? Launching your own company can be a rewarding experience and a great way to make money and build a dream. But before you launch your startup, you need to be aware of a number of things that are critical to reach your business goal.

Creating a business is not a simple task — it includes important details that you have to put in place. The more you know going in the more control you have to become a successful entrepreneur

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What Do I Need to Start a Business?

To jump start your journey, you have to start somewhere. One of the good places to begin is answering “What do I need to start a business?” Here are some things you should know about before starting your own business:

1 – A business plan
A business plan is an essential tool to outline a roadmap for your company. It is a written guide that helps you project the future of your business and gives you a clear direction of what to plan and expect. A business plan should be professional and should set out to grow your company. This vital document should include your company profile, vision, mission, business goals, company description, market analysis, business structure, strategies, product line, financial predictions and funding request.

2 – A business structure
Examine and research all the different business structures that exist and decide the best option for your business: sole proprietorship, partnership, corporation, S corporation, or Limited Liability Company (LLC). Your business structure will affect your business growth and taxation. Not all new businesses qualify to start as a Limited Liability Company or a sole proprietorship. Get more in-depth information before you determine a legal structure by talking to a tax pro or lawyer.

3 – Register your business with your state government
You need to register your business with your state government. Obtain an Employer Identification Number from the IRS and with your state revenue agency. In many states, businesses established as sole proprietors don’t need to register with the state unless they operate under their own name. The legal name you use to register your business will be used to legally operate and obtain financial help if needed.

4 – Find out your tax requirements
You need to know your business tax requirements. Your business structure determines the type of tax return you have to file with the IRS. At the federal level, business taxes include the income tax, the self-employment tax, taxes for employers and the excise tax. At the state level, business or corporate taxes requirements depends on the legal structure of your company and the state where it does business. The more organized you are with your taxes, the fewer fees and penalties you will pay.

5 – Separate your business and personal finances
It is important to separate your business from your personal life to avoid money issues and financial consequences. You need to open a separate business bank account. With this account, keep track of the money received from your business and you can establish a good financial history for future funding requests.

6 – Seek legal advice
All entrepreneurs should seek legal advice before starting a new business. Most business owners think of legal counsel only when they run into a problem, but legal consultation is the best way to prevent trouble and set the company on the right path. Keeping your business out of trouble or preventing business issues with the help of an attorney is the best proactive preparation. A legal problem can critically impact the operation of a company.

7 – Build a business emergency fund
An emergency fund can cover your expenses in a time of a business “drought” and help you avoid financial disaster. It can also help cover your tax requirements. Move money every month into an emergency fund to build your savings and be prepared for any financial situation so you can focus on developing and growing your business.

Make sure you cover all bases before starting your business and remember to stay organized, prepared and ahead of the game. Planning is a vital part of a successful business.

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