If you find yourself facing the IRS collections process and the related penalties and consequences that come with that, E File TST is standing by with access to the various tax resolution programs, and is ready to help. We are experts with all tax resolution options available and our only mission is to remedy your IRS problems and get you back in good standing.
Our Enrolled Agent Fernando Evangelista will stand in on behalf of a taxpayer (an individual or legal entity) during an IRS or State income tax audit. The audit representative develops the strategy used to defend the taxpayer position. He will assists the taxpayer in preparing all documents requested by the taxing authority and typically attends all meetings and handles correspondence on behalf of the taxpayer.
The IRS can sometimes saddle you with a tax debt that is actually the responsibility of your spouse or ex-spouse. If the actions of your spouse caused the tax problem and you were unaware of or had no part in those actions, you can use the IRS form 8857 to request tax resolution called “innocent spouse relief” and have the tax debt and penalties removed.
If there is absolutely no way for you to pay your tax debt, and no way for the IRS to collect the money owed via the more traditional forms of tax resolution, you can file for “currently not collectible” status. The fact that you have nothing worth that the IRS can take is not exactly an enviable position to be in, but it can help in dealing with them. If your account is deemed to be uncollectible, the IRS will stop the collection process until your financial situation improves and another form of tax resolution becomes more realistic. Interest and penalties will continue to build up against you, and you will have to provide financial statements each year to show whether or not you are still “currently” unable to pay. If the financial statements show that your situation has improved enough, the IRS collection process will resume. But if the 10-year statute of limitations for back taxes expires while you have “currently not collectible” status, the tax debt itself will become permanently not collectible and no other form of tax resolution will be needed.
If you cannot pay your tax debt in full, the IRS may agree to let you pay it off gradually in monthly installments. By allowing taxpayers to pay down a debt over time as a form of tax resolution, this can often be the easiest and best way for the agency to collect all the money it is owed. And, since the IRS collects interest on past due
amounts, it does not actually burden the agency financially to allow someone to pay gradually. Installment plans are often very viable options that work well for both the IRS and the taxpayer. Though you will usually have to pay penalties and interest, setting up a payment plan through successful tax resolution can get you back on a track, eventually becoming free of your tax debt. The IRS allows numerous ways for arranging to pay a delinquent tax liability. At E File TST, our goal is to set up a payment option that works for you, pays off the tax debt in the shortest amount of time, and will keep the interest accumulation to a minimum.
When the IRS issues a notice that it intends to levy and seize your assets you have 30 days to challenge the tax levy to attempt tax resolution or pay the amount due. If you cannot pay the tax debt in full before the IRS is scheduled to seize your assets, you may be able to remove the tax levy anyways with proper tax resolution by setting up an installment plan with the IRS or by making other arrangements. But the best course of action is to work out a mutually agreeable solution with the IRS and avoid the levy altogether.
In many tax debt cases, the Penalty and Interest portion of the tax debt are quite significant. If you are facing penalties for not filing or paying your taxes on time, you may be able to get those penalties removed (or even get past penalties and interest refunded) through penalty abatement or penalty adjustment. Abatement refers to eliminating an assessed tax liability and an adjustment references reducing or altering an assessed tax liability. Penalty Abatement can be the best solution in resolving IRS Tax Debt, and we can help you determine if this may an option for you.
The Offer-in-Compromise can be a life-saving form of tax resolution for those who truly need it. On average people who settle their debt using an Offer-in-Compromise end up paying less than 20% of the actual amount they owed to the IRS. Approved by Congress to aid taxpayers, an Offer in Compromise (OIC) can be the ideal solution for resolving your tax problem as it can result in significant savings. In some cases, your financial situation may make it nearly impossible for you to pay off all your tax debt, even when utilizing tax resolution over the long term via an installment plan. In such situations the IRS may be willing to accept an “Offer-in-Compromise” and significantly lower your tax bill. Regardless of the reason, to be eligible for an Offer in Compromise the taxpayer must demonstrate that collection of the tax would create an economic hardship or would be unfair and inequitable. For the best chances in successfully negotiating an offer in compromise, you’ll want a professional on your side. Fernando Evangelista expert Enrolled Agents is highly experienced in preparing, submitting and settling these cases.
If you currently own or have owned a business with employees, and owe 941 or Employee Withholding Tax then YOU NEED TO RESOLVE YOUR TAX ISSUE IMMEDIATELY! The IRS is most aggressive when it comes to these type of taxes. If payroll taxes are not paid, you are putting your income, assets, and business reputation at risk. If these taxes (payroll tax 940 or 941) are neglected long enough, the business may be forced to close and all assets can be seized to satisfy the debt. Regardless if the business is closed, you must make arrangements to pay the taxes. The IRS will not be deterred and by not paying or making arrangements your personal finances are at risk. E File TST who specialize in Payroll Tax Issues can discuss what options are available and what will be the best course of action.
We find that taxpayers do not file tax returns for one or more years for various reasons and the problem can become overwhelming. Missing all or a portion of their records, personal hardship and/or neglect are some of the many reasons people fall behind in filing their taxes. Fortunately, there are ways to approach the problem of unfiled returns. E File TST can prepare passed returns using various substitute sources when there are missing records. Those returns should be filed as soon as possible in order to avoid accumulated compounding interest. Also, it should be noted that if returns have not been filed in most recent three tax years, those returns should be prepared immediately in order to claim any refunds that maybe due.
If you are delinquent in paying back taxes, you are subject to a serious collection action called a tax lien. You need the help of a qualified tax specialist to take action now to prevent having your finances restricted. Tax liens legal claims filed by the IRS against anything of value which you own. This can be your home, business, income, automobiles, jewelry, property, etc. It is basically a public announcement of your back tax Dept. and gives the IRS precedent over any other creditors. Our team here at E File TST is experienced in tax law and will help you obtain a more affordable solution to pay your tax liability.
When the IRS or the state has failed to collect back taxes, they will begin to seize assets. If phone calls and letters are not returned, they will take the next step. This process is called a “levy”. The taxing authorities are legally allowed to seize bank accounts, demand payment from accounts receivable, take control property for auction, and assume title on vehicles. Virtually anything of value can be seized to satisfy the outstanding debt. Wage garnishments are another form of tax levy, though the seizure of assets from your paycheck is an ongoing process. If the levy of your wages is removed through tax resolution, the wage garnishment will be stopped. Since wage garnishments function as a basic form of a forced, involuntary installment plan, they can sometimes be removed through tax resolution by setting up a regular and approved installment plan. Besides removing the burden from your employer and giving you the power to handle the payments yourself an installment plan can often be set up with payments that are considerably less the wage garnishment amounts. That is why this form tax resolution is very common. Levies and some wage garnishment can be the most stressful and humiliating of all collection tactics. They do this to force taxpayers into willful compliance. We may be able to release your wages from garnishment and/or possibly stop the levy. E File TST has been successful in getting levies lifted and garnishment stop in a timely manner. We know your rights as a taxpayer and we are here to help.
In many cases, State Tax Collection authorities can be more aggressive and act before the IRS takes action. Typically, those who owe the IRS, also end up owing state tax. State tax collection authorities have tremendous reach can you cause financial hardship if not dealt with in a timely manner. Call us today so we can have representative represent you in your case.
State and local tax authorities are looking to maximize sales tax collections. We can help you understand and manage your sales tax obligations and prepare sales tax returns in an efficient and timely manner.
State and local tax authorities are looking to maximize sales tax collections. We can help you understand and manage your sales tax obligations and prepare sales tax returns in an efficient and timely manner.