Our Services
Negotiated Settlement/Offer in Compromise
Our program is approved by Congress to aid taxpayers. The approval process is straight-forward, you will either be eligible or not. Recently published IRS Policy Statement P-5-100 reads in part as follows:
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The IRS will accept an offer in compromise when it is unlikely that the tax liability can be collected in full and the amount offered reasonably reflects collection potential. An offer in compromise is a legitimate alternative to declaring a case currently non-collectible or to a protracted installment agreement. The goal is to achieve collection of what is potentially collectible at the earliest possible time and at the least cost to the Government.
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Due to the popularity of this program, millions of cases are submitted, which may delay the process. Each case is
analyzed and examined. Any material error can cause an offer to be rejected entirely. Fortunately, our professional staff has years of experience and are aware of the intricacies of this program. We follow the IRS guidelines, and when you call, your assigned tax strategist will walk you through the procedure.
They will answer any questions and provide a free assessment of your case.
Penalty Abatement
In addition to the "Offer in Compromise" the IRS offers an alternative program for the reduction of outstanding tax debt. If there are circumstances beyond your control that prevent you from paying your tax debt and lead to delinquency, we can challenge the penalties and interest that have accumulated. Relief from penalties falls into four separate categories. They are as follows:
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Reasonable Cause -mistake made by the taxpayer, ignorance of law, death, serious illness, unavoidable absence or divorce.
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Statutory Exceptions -simple or complex legislative tax code changes.
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Administrative Waivers -excessive hardship, fire, flood, natural disasters, or bad legal/tax advice.
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Correction of Service Error -mistakes made by the IRS.
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Because relief from accrued penalties and interest is based on factual tax return rather than financial hardship, terms for successful penalty abatement are very specific. More so than most, this program involves a great deal of skill to successfully navigate the IRS protocol to bring in a beneficial resolution. When applied correctly and effectively, results can be substantial; savings are usually thousands of dollars for the average taxpayer.
Wage Garnishment or Bank Levy
When the IRS or state has failed repeatedly to collect taxes, they begin to seize assets. This process is called a "levy." When they attach wages, it is termed a "wage garnishment." The taxing authorities can legally seize bank accounts, demand payment from accounts receivable, take control of property for auction, and assume title on vehicles. Virtually anything of value can be seized to satisfy the outstanding debt. Levies and wage garnishment are the most crippling and humiliating of all collection tactics. They are designed to force taxpayers into willful compliance. In the past, we have been successful in getting levies lifted, but not all taxpayers qualify for this relief.
Payment Plan
This program is for taxpayers and businesses that are unable to settle their entire tax debt at one time and need to make a payment arrangement. If the IRS has burdened you with an unreasonable payment plan, or is threatening a levy on your wages, bank accounts and other assets, we can negotiate a payment plan for you that will accommodate your current financial situation. If you qualify, we can have your account placed in a "not currently collectible" status. This will allow the IRS to withhold all collection activity until you are financially able to accept a payment plan or have an Offer in Compromise submitted, but not all taxpayers qualify for this relief.
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Lien Subordination
If there is a tax lien on your home or property, we can negotiate to have the lien lifted if you qualify, enabling you to refinance or sell. This solution is especially beneficial when using equity in a property to pay off a negotiated settlement. Not all taxpayers qualify for this relief. Only under certain circumstances may you be eligible for the relief.
Payroll Tax
If you own or have owned a business with employees, and owe 941 or Employee Withholding Tax, penalties and interest will begin to accrue if they are not paid. If the payment is delinquent for a certain period of time, the business can be closed and all assets will be seized to satisfy the debt.
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As these cases vary greatly in complexity, your assigned strategist will provide a detailed assessment of your options and map out possible affordable solutions.
State Tax
Many people who owe the IRS usually owe state tax as well. While not as broad in scope as the IRS, state collection authorities have tremendous reach and are generally more forceful in their collection efforts. Most states offer similar versions of the Offer in Compromise program, and will offer payment plans and amnesty from penalties and interest if successfully approached. Our staff can provide you with the best state taxing authorities.
Unfiled Return
- Frequently, taxpayers do not file tax returns for one or more years because they are missing all or a portion of their records. There are ways to approach this problem.
- The I.R.S. maintains a file from 6 years back of all W2's, 1099's and 1098's (mortgage interest paid) filed in the name of individual taxpayers. Tax Relief ASAP can determine certain facts from Master File Transcripts available for those years where the IRS has prepared a Substitute Return. These ‘records of account' provide Adjusted Gross Income, Taxable Income, Tax, Number of Exemptions, Filing Status and Self Employment Tax. Missing business records can be determined, in most cases, by obtaining copies of bank statements as well as credit card statements, making it possible to prepare a proper tax return.
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Tax Relief ASAP can use various substitute sources when records are missing to prepare returns. Those returns should be filed as soon as possible in order to avoid accumulated compound interest.
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n addition, if returns have not been filed in the most recent three tax years, those returns should be prepared immediately in order to claim any refunds that may be due.
YOU NEED TAX RELIEF ASAP
Our attorneys, certified public accountants and enrolled agents are experts at negotiating solutions with the IRS.
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The IRS is relentless and will never quit. They can seize your property, place levies on your bank accounts, and garnish your wages. You need a team of competent tax professionals - an attorney, a certified public accountant, and an IRS enrolled agent - dedicated to your case. You need Tax Relief ASAP!