Has the discovery of owing back taxes come as a complete shock and surprise? Are you distressfully aware of your back tax debt, avoiding the fearful consequences? You need the help of experienced firm to help you find relief.
Instant Tax Solutions (ITS) can take control of your tax debt problems and obtain a favorable settlement for you. Call us now for a free consultation. Delay leads only to increased penalties and fines and missed opportunities for solving the issue.
What We Can Offer
Our attorneys and legal counsel have the skills, experience and education needed to help provide you the relief you need. Having our professional tax team behind you provides many benefits, such as:
- Expert IRS negotiation experience
- Protection against loss of assets
- Current knowledge of all tax relief options
- Fair and financially manageable tax debt resolution
- Prevention of wage garnishment, tax levy, or tax lien
- Protection for an innocent spouse
You Are Our Number One Priority!
Unlike our competitors, Instant Tax Solutions is interested in just one thing – you. With our expertise behind you, you have what is necessary to obtain tax relief.
Our committed tax team will secure the most favorable solution for you, and will help design a plan of action for you to become debt free. The IRS is interested in your tax liability repayment only and will force you into paying your entire tax debt all at once, whether you can financially afford it or not. You cannot chance leaving your financial future up to their dictation and demands – you need the help of expert legal counsel.
Actions that We Can Prevent Against
Stopping a Notice of Intent
The IRS is adamant about collecting delinquent taxes. Owing back taxes is a serious threat to your financial security. A “Notice of Intent” is just one tool designed to get the attention of the taxpayer. If the IRS is intending to file a lien against your property, they must first file a record with the county recorder where the property is located.
The “Notice of Intent” is the first of many actions the IRS will take. If you do not attempt to pay your tax debt, the IRS can seize your bank accounts, wages, home, automobile and anything else of value you may have.
Once you receive the “Notice of Intent”, which comes via certified mail, time is of the essence. You have ten days to file a response and up to thirty days before any formal collection action begins.
Income and Wage Garnishment
If your wages have been taken, an we can contact the government to have the penalty lifted, and will work with them to get you into a program that works for you.
The IRS has a series of strict guidelines and protocol which determine how much of your income can be garnished for tax debt. However, the loss of any part of your wages can render you unable to meet general living expenses. Also your employer will become aware of your back tax debt adding embarrassment to your stress. You cannot be fired for having your wages garnished, but it can have a negative impact in the work place.
Many times the taxpayer is unaware of an outstanding tax liability until the garnishment happens. An experienced tax specialist can provide immediate assistance and reassurance.
Levies, Liens and Asset Seizures
There are federal laws in effect that protect you from being left homeless and destitute. But, how can the IRS know the circumstances surrounding your financial status? And how does the average taxpayer understand what is required to qualify for help? Until a working relationship is established, the IRS will proceed with serious collection actions to place levies on your property and bank accounts, place liens on your home and property, and seize your valuable assets.
You need a qualified expert in your corner to fight the IRS and negotiate a temporary suspension of further collection activity. We can then determine your income-to-debt ratio, and review the programs and plans for which you may qualify.
You will sit down together and review the information available, and then choose which option best suits you.
Stumbling Blocks that the Internal Revenue Services Has
Due to its size the IRS is plagued with bureaucracy, complexity, computer difficulties and human limitations. It is the largest agency in the Unites States Department of Treasury, so locating the right department and right person to help resolve your tax problem is a monumental challenge.
Like many other government agencies, most employees are unaware of how the organization as a whole operates, and anything outside of the realm of their responsibility is completely foreign to them, and are unable to direct you to the right area.
The millions of honest, well-intended letters from taxpayers received by the IRS yearly are often overlooked as the bureaucracy and red tape are very thick.
The US income tax laws are the most complex in the world, yet Congress continues to pass tax laws to ensure US citizens follow the rules. Even the IRS does not understand all of them! The tax code, full of unclear provisions and contradictions, challenges a taxpayer or tax professional in how to apply it.
The IRS has a powerful computer system linked to all 50 state databases, social security, city and state tax agencies, motor vehicle departments, public welfare agencies, unemployment offices, and more. Because the network is so vast, it works slowly delaying notification and updates. A taxpayer file can become lost – usually due to human error.
Like any business, some employees are stars while others just want to get by. Too often employees seem focused only on collecting all taxes due without considering impartiality, fairness and the legitimacy of the tax debt.
Congress has given the IRS considerable power when it comes to the interpretation of tax laws and the use of severe collection actions for the payment of back taxes. However, this does not give them permission to harass or threaten taxpayers. Taxpayers must understand their rights as well.
Settlement Options that You Have
There are multiple settlement options available to those who do not have the financial means of paying back a tax debt. Do you know where to begin? Do you know what forms you need and how to complete them? Do you know what your rights are? If the answer to any of these questions is no, then you need help.
Selecting and qualifying for an tax relief settlement is not an easy process. An experienced tax attorney, equipped with the knowledge of current tax law and skilled in negotiation, can handle all of this for you.
The beginning process:
- Your tax attorney will need all of your financial information, including past and present tax returns for the period of time in question.
- Your financial information will be evaluated to determine which tax relief option may work best for you.
- Your tax professional will speak with the IRS on your behalf, relieving you of this responsibility.
Every aspect of the settlement will be handled for you. The final amount of the tax debt owed, agreed to by both parties, is called the “settlement amount”. This amount is reached through negotiation to reduce or eliminate imposed penalties or accrued interest.
5 Types of Settlement Programs Available to You
1) Offer in Compromise Agreement
The first and most impactful form of settlement that you can get when working out a deal with the government is an offer in compromise agreement. With this deal, you basically are saying that you are unable to pay back the amount in full, and will not be able to for the foreseeable future.
After a complex series of negotiations, you may be able to save a significant amount on the debt that you owe, often times up to 90% or 95% of the original amount.
2) Installment Agreements to Pay Over Time
The second type of settlement option that you have available is known as an installment agreement, which is an arrangement between you and the government to pay back the amount you owe over time, instead of all at once.
This will allow you to pay over time, and not endure the financial hardship that one lump-sum payment would be. You can then go on living your life as normal with this type of arrangement.
3) Penalty Abatement, Fee and Interest Relief
If you have built up a tax debt over multiple years, then chances are you have acquired a decent amount of penalties, fees and interest charges on your total liability. These can add up very quickly, and before you know it, the amount you owe has doubled because of them.
You can take advantage of a program called penalty abatement, which we negotiate on a daily basis. This program allows us to make deals with the government on repayment of the base amount, as long as they remove a lot of the penalties and fees that have acquired.
Just this little option alone can end up saving you significant amounts of money in the long run.
4) Innocent Spouse Relief Program
If you have come into a debt of your spouse or former spouse, and really had nothing to do with it, there may be a relief program for you as well. Known as innocent spouse relief, this program allows innocent spouses of those who run into tax problems, to get out from under the unfair burden.
These cases are usually fairly complicated, and require an extensive knowledge of some of the IRS statues and policies to fully take advantage of, but we are here to help you navigate these.
5) Getting a Currently Not Collectible Status
The last form of tax relief that we can help you with is getting you filed under a currently not collectible status with the government. This is basically a temporary truce between you and them, where they can’t continue any collection actions or pursuance for a full year’s time.
Costs of Delaying Action
Unfortunately, the worst thing you can do if you have tax problems is to sit idle and not take action. Some of the costly consequences include:
- Escalating penalties and fines added to the original tax debt
- Compounding interest increasing the tax debt daily
- Wage Garnishment – funds taken from your paycheck
- Bank Levy – funds frozen and unavailable for use
- Tax Lien – property attached as security for a tax debt
- Seizure of Assets – houses, cars, etc. seized and sold to lower tax debt
- Criminal Action – actions viewed by the IRS as criminal, ranging from a misdemeanor to fraud
The primary interest of the IRS is to collect the entire amount due along with interest, penalties and fines. With the proper representation, you can successfully and fairly resolve your IRS tax debt.