TAX RESOLUTION

Trucker Tax Help

OUR TAX RESOLUTION PROCESS

1. Tax Issues Analysis

After your free consultation, we offer you the choice of hiring us as your tax resolution consultant. New clients sign our engagement letter as well as a Power of Attorney (IRS form 2848). Your tax resolution consultant interviews you further in the effort to complete your financial profile.

2. Development

Your tax resolution consultant will immediately get the details of your tax history from the IRS. We will discover your precise tax debt condition by adding this tax history to the information which you already presented to us. We then begin to lay the groundwork for your client-centered solution.

3. Implementation

We examine various resolution alternatives for their possible inclusion in the overall plan and select several that roughly fit your tax debt condition. We blend parts of various solutions into the working tax resolution plan for your case. At this point we also make sure that you are current with your filing of tax returns.

4. Management

We present your proposed tax resolution plan to the IRS. We check the progress of this plan throughout. Usually, the IRS will seek added information.

5. Evaluation

Regular conversations between you and the tax resolution consultant keep you current. Once the IRS has reached a first resolution, we help you decide if this is what you agreed to in the plan. Usually, we will need to present the plan a second time.

6. Discovery

The final resolution will usually satisfy most clients. If the final resolution is unsatisfactory, we will advise you of alternatives.

TAX PROBLEM RELIEF STRATEGIES

1. An Offer In Compromise

Many taxpayers qualify for the IRS Offer in Compromise program. If you qualify, this program gives you the opportunity to settle a tax liability for far less than the total amount owed. A tax resolution specialist is able to calculate if a taxpayer can qualify for an OIC.

2. Penalty Abatement

The IRS can grant abatement and remove penalties or interest if there is a legitimate reason for not paying taxes on time. Penalties and interest can comprise a large percentage of the overall tax debt, sometimes as high as 50% or more. A taxpayer should consult with a tax resolution specialist to see if they are a candidate for abatement.

3. Wage Garnishment Removal

The IRS can garnish a taxpayer’s wages until the tax debt is paid in full. It is important to act quickly to stop or release this type of levy. The taxpayer should seek help from a tax resolution expert who can develop a strategy to reduce or release the wage garnishment.

4. Stopping A Bank Levy

A bank levy is another form of legal seizure of property by the IRS to satisfy a tax liability. A bank levy freezes an amount available in your checking or savings account and sends it to the IRS in 21 days. It is advisable to work with a tax resolution expert to resolve your tax problem quickly with a goal of getting a release of levy.

5. Filing Delinquent Tax Returns

A taxpayer cannot successfully resolve a tax problem unless they file all previously unfiled tax returns. Often the IRS files a “substitute for return” which does not include any deductions owed to the taxpayer. Filing a first time or an amended tax return can often obtain those deductions and lower a taxpayer’s tax liability.

6. Optimizing An Installment Agreement

The most common IRS tax debt solution, for taxpayers with enough assets or income, is an installment agreement. The taxpayer should consult with a tax resolution specialist to develop a plan which fits their specific case. A properly structured installment plan can reduce the total amount to be paid.

7. Managing The Statute Of Limitations

The IRS has 10 years from the date of assessment of taxes to collect all taxes, penalties and interest from a taxpayer. A tax resolution specialist can help the taxpayer reduce an overall tax liability by managing the debt with an eye on the 10 year statute of limitations.

8. Innocent Spouse Relief

When two individuals file a joint tax return, typically each is liable for the tax debt. Occasionally the tax liability is the responsibility of just one individual. There are three categories of innocent spouse relief in which a taxpayer may qualify for tax relief.

9. Filing An Appeal

Every taxpayer has the right to appeal an IRS tax ruling. An advantage to filing appeal is the IRS will typically suspend their efforts at collecting the tax debt. This reprieve gives the taxpayer time to meet with a tax resolution expert to develop a defense.

10. Currently Not Collectible

If you have no assets or income above that which is necessary to cover living expenses you become currently not collectible. Collections against you will temporarily stop. This is a temporary form of relief.

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