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BACK TAXES OWED TO IRS – STOP IRS DEBT

BACK TAXES OWED TO IRS – STOP IRS DEBT

Free Book an Appointment

 

Free Income Tax Organizer

 

Pricing for 1040 Income Taxes

 

Pricing for Bookkeeping Services

 

Pricing for Business Income Taxes

 

You could be eligible for several tax relief programs. Such as an offer in compromise, currently not collectible, an IRS payment plan, or even an injured spouse.

There are several options available to pay your tax bill. We are committed to determining which solution can render the best result while allowing you to pay the least tax possible!

File all tax returns that are due, regardless of whether or not you can pay in full. File your past due return the same way and to the same location where you would file an on-time return.

What to do if you owe the IRS

  1. Set up an installment agreement with the IRS. Taxpayers can set up IRS payment plans, called installment agreements. …
  2. Request a short-term extension to pay the full balance
  3. Apply for a hardship extension to pay taxes
  4. Get a personal loan
  5. Borrow from your 401(k)
  6. Use a debit/credit card
  7. File Back Taxes

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Protect Social Security Benefits

If you are self-employed and do not file your federal income tax return, any self-employment income you earned will not be reported to the Social Security Administration and you will not receive credits toward Social Security retirement or disability benefits.

Avoid Issues Obtaining Loans

Loan approvals may be delayed if you don’t file your return. Copies of filed tax returns must be submitted to financial institutions, mortgage lenders/brokers, etc., whenever you want to buy or refinance a home, get a loan for a business, or apply for federal aid for higher education.

Substitute Return 

IRS – If you fail to file, we may file a substitute return for you. This return might not give you credit for deductions and exemptions you may be entitled to receive. We will send you a Notice of Deficiency CP3219N (90-day letter) proposing a tax assessment. You will have 90 days to file your past-due tax return or file a petition in Tax Court. If you do neither, we will proceed with our proposed assessment. If you have received notice, you cannot request an extension to file.

If any of the income listed is incorrect, you may do the following:

  • Contact us at 1-818-736-9873 to let us know.
  • Contact the payer (source) of the income to request a corrected Form W-2 or 1099.
  • Attach the corrected forms when you send us your completed tax returns.

If the IRS files a substitute return, it is still in your best interest to file your own tax return to take advantage of any exemptions, credits, and deductions you are entitled to receive. The IRS will generally adjust your account to reflect the correct figures.

Collection and Enforcement Actions

The return we prepare for you (our proposed assessment) will lead to a tax bill, which, if unpaid, will trigger the collection process.

If you repeatedly do not file, you could be subject to additional enforcement measures, such as additional penalties and/or criminal prosecution.

Filed Your Past Due Return

If you received a notice, you should send us a copy of the past due return to the indicated address.

It takes approximately 6 weeks for us to process an accurately completed past due tax return.

STOP IRS DEBT

Many Americans are given tax refunds by the Internal Revenue Service (IRS) every year.

Many people, however, owe money to the IRS but cannot pay the taxes all at once.

So many people think that they can catch up on back taxes owed to the IRS but eventually are wrong.

Unfortunately, life brings unexpected medical problems, costly repairs, legal expenses, or job termination.

You could suddenly find yourself wading in several years’ worth of outstanding tax debts. Or, sometimes, even three to four times the amount you were initially responsible for paying.

This scenario is all too common, and many individuals find themselves trying to paddle against the overpowering current of debt.

Federal tax and how fast penalties and interest can add up on back owed taxes.

You have a choice; you can either pay the total amount you owe, including interest and penalties.

Or you can keep ignoring the IRS notifications. However, more interest and penalties will continue to build on top of your unresolved debts as time passes. Leaving taxes unpaid could create disastrous consequences.

Failing to pay your back taxes could cause the IRS to issue an IRS lien.

The IRS is allowed to place a claim on your assets; this could include your home.

Should you continue to ignore your tax liability or notifications from the IRS?

No, the IRS may seize your property and sell it to square off the debt that you owe. Unfortunately, IRS seizures often come as a surprise and leave unprepared taxpayers without a home, a car, or money.

We have over 12 years of experience in federal and state taxation.

With my extensive knowledge of finance, business, and accounting to your benefit. Sometimes things seem hopeless; however, we can assure you that we will work hard to find a solution to your problems.

I handle every case that comes through my office doors.

I would gladly set time aside to discuss your financial goals or needs. I could be the help you need after dealing with IRS problems or tax debt.

2021 IRS 1040 Personal Income Taxes – Small Business

Personal Income Taxes

  • Tax Form IRS 1040
  • Schedules A, B, C, CEZ, D, E, F, H, J, R, SE
  • Form 8812 Child Tax Credit

We will prepare your IRS 1040 tax return for both State and Federal and e-file for you. We will prepare with the highest standards for all clients.

 

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Injured Spouse Must Qualify

Injured Spouse

Or, injured spouse relief, innocent spouse, or any misdeed, misconduct, or fraud committed by your spouse?

If your spouse or ex-spouse failed to report income, reported income improperly, or committed intentional tax fraud.

And, you suffered financial setbacks due to having to pay for your spouse’s error. Innocent spouse relief could provide you with the financial relief that you need.

Free Book an Appointment

Free Income Tax Organizer

Pricing for 1040 Income Taxes

Pricing for Bookkeeping Services

Pricing for Business Income Taxes

Get a fresh start, look at your bookkeeping and income taxes, and consult with Christina.

When you call our office at (818) 841-0255, we can go over several options for resolving your unpaid taxes.

You could be eligible for several tax relief programs depending on your situation. Such as an offer in compromise, currently not collectible, an IRS payment plan, or even injured spouse relief.

We are committed to determining which solution can render the best result while allowing you to pay the least tax possible!

Innocent spouse relief was designed to address unjust situations. One spouse was the victim of financial fraud perpetrated by the other spouse or ex-spouse.

If your tax refund was taken by the Internal Revenue Service (IRS), pay for your spouse’s past-due obligations.

You might be eligible for innocent spouse relief.

Penalties and Interest

  • Federal tax
  • State tax
  • Child support, spousal support, or alimony
  • Student loans
  • Other debts

To request or receive innocent spouse relief, you must file for relief no later than two years.

After the date that the IRS first attempted to collect taxes from you.

Failure to do so could lock you out from receiving financial relief. Speaking with an experienced Tax Preparer can help inform you of innocent spouse relief’s various intricacies.

And ensure that you follow the requirements to qualify for the benefits.

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How do I qualify for innocent spouse relief?

To qualify for innocent spouse relief, you must meet all of the following requirements:

  • You filed a joint return with an IRS and added your spouse’s income, tax deductions, credits. Or properties and was omitted or listed incorrectly in return.
  • When you signed the joint return, you did not know that there was an understatement or improper listing of tax.
  • It would be unfair to hold you liable for the understatement of tax.

Suppose you suffered financial setbacks due to your spouse’s false or fraudulent tax report.

I know how urgent these matters are and I am fully committed to finding a quick but efficient solution.

I can develop the proper support you need while paying the lowest tax possible by handling your finances. Remember, your current tax problems do not have to be permanent! There may be a solution that can lead you toward long-lasting peace of mind and financial stability.