IRS COLLECTION

Tax Stress

Tax debt can be an overwhelming burden as it accumulates rapidly particularly with the addition of interest and penalties.  Once collection action begins, the IRS may levy your bank account, place a Federal tax lien on your home, garnish your wages and possibly seize property.   Nobody can make an unconditional promise to settle your liability for pennies on the dollar.  We evaluate each client’s individual collection situation to determine the most affordable solution that allows you to pay your necessary living expenses without fear of further IRS invasive collection action.

stress in ufficioDepending on your circumstances, we will negotiate with the IRS for:

Installment Payment Plan (Monthly Payment to IRS)

Non-Collectable Status (No Payment Required Due to Extreme Financial Hardship and Collection Activity Ceases)

Offer in Compromise (Lump Sum or Installment Payment Offer to Settle IRS Debt for Less)

TAX PREPARATION

U.S. Income Tax Return form 1040.

If you have delinquent individual or entity income tax returns, the IRS may file substitute for returns.  In most cases, these “returns” are computed based on inaccurate and unfavorable estimates that may result in a much larger liability than is actually owed.  The only way to set the record straight is to file accurate returns.  We prepare all types of Federal and (all) state individual and entity returns.

Additionally, we prepare current Federal and (all) state individual and entity returns.  Often, QuickBooks data is the source for the data from which returns are prepared.  However, transactions incorrectly entered into QuickBooks will result in inaccurate returns.  As appropriate, we review your QuickBooks data for accuracy and, if, necessary make necessary corrections to transactions entries to assure accurately prepared returns.

AUDIT AND TAX COURT REPRESENTATION

AuditWhen the IRS audits your income tax returns, the consequences can be devastating.  Because penalties and interest accrue from the due date of the return (which could be many years ago), the total amount of tax, interest and penalties can be overwhelming.  In a given IRS audit, the issues could be whether you reported all your income or whether you were entitled to take a certain deduction or as fundamental as whether you are able to substantiate all of your deductions.   Regardless of the issue, we will diligently defend your position in dealing with the IRS revenue agent.  There are other clients who were already audited and received an audit report recommending unfavorable proposed adjustments.  For these clients, depending on the timing, we can file an appeal or a petition to litigate the case before the United States Tax Court.