Tax Problem Help

Without a thorough question and answer session, it would be difficult to offer the best solution.

The following outlines what to expect in the process of reducing the amount of taxes you owe.

Have questions? Check out our FAQ or use our Contact form to get ahold of us.

Thorough Analysis

Without entire picture no one can help you – regardless of what they say.

Power of Attorney

We provide:

  1. IRS transcripts
  2. Statute of Limitations expiration date
  3. Represent you – advantage – we did not create the problem – many times the taxpayer is defeated because they feel guilty – they created the problem.

CDP Hearing

A device to stop IRS from further collection efforts until they consider alternative solution. For example, installment payment - offer in compromise - non collectable status.

These hearing requests must be timely filed to be operative, once filed; no further collection effort can be done by the IRS including levies until a hearing, normally by telephone, is conducted. This time can be up to 60 days from time of filing which gives time to develop a plan to resolve issues.

Installment Agreements

Example – IRS Balance $20,000
  Monthly excess cash flow $300
  Monthly payment accepted $20,000
    $300 per month = 66 months
  * Interest continues on the o/s balance until paid.
  * Monthly payment to outside creditors is more liberal than in offer in compromise plan.

If you owe a balance to IRS but are unable to pay this in full, the service will allow you to make monthly payments to pay the balance. There are restrictions on how many months you can spread the payments over, but once set up, the installment agreement stops sudden surprises such as levies on bank accounts or wages.

The monthly payments established once your financial data is submitted to IRS, our firm assists with the process to get you the monthly payment you can actually (safely) make.

Once established, all future tax returns must be timely filed and create no further debt to IRS or agreement will be terminated. Service can still and usually does file federal tax liens to protect their interest.

Offer In Compromise

If you owe a balance to IRS, the service will settle in full for only a portion of the balance. Sounds to good to be true!

Here is how it works, IRS reviews the assets you own, amount owed on them, also your cash flow on a monthly basis. There are guidelines on amounts they will allow in this calculation; this is where our expertise will be a great value. Many times taxpayers are paying more mortgage payments for their state/county than IRS allows, this is an example of an adjustment IRS makes in your cash requirements paid out monthly. For more information, visit our Offer In Compromise page.

Subordination of Debt

Many times taxpayers attempt to get a loan (mortgage) to pay off IRS only to find that a federal tax lien has been filed by the service. These are always done with a mail notice to taxpayer. IRS will allow a lender to take first position on the property; they will subordinate their place as first holder, meaning allowing a lender to take over their position because they know they are gong to get money borrowed on property from the lender.