Tax Problems Resolution
Owing a balance to the IRS can be frightening to people and if it is a large balance it is scarier. Many people feel as if they don’t open the envelope it really doesn’t exist. Well actually being fearful of that envelope is one of the worse things you can do. The sooner we can work on it with you the faster it gets resolved or at least the sooner you know your options and there are options.
Natural disasters, the onset of a serious disease, and losing one’s mobility can create financial devastation for you or your business. Perhaps you paid the wrong amount in employee taxes or your business’ revenue has slowed down a bit. Any one of these scenarios can cause problems with paying your taxes, but there are solutions available.
There are laws and rules to assist you in making payments or other possible solutions.Much of this depends on what type of tax and the timing of the overdue balance. We can look at the possible solutions and advise you on the best course to take.
Do not be scammed by the late night TV ads where they say they can save you pennies on the dollar. Most of those are false claims that after they have taken your money, they submit some forms and then the IRS rejects the offer. There is a specific reason why the IRS accepts pennies on the dollar, so if you qualify for those options they are available to you. You do not need a high priced, late night commercial firm to sell you.
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Unfiled Tax Returns
Things happen, something went wrong and April 15th and October 15th filing deadline was missed. Then the anxiety of next year comes and another deadline is missed. We at LBS Tax understand that things do not go how we planned and tax problems happen. Let us take the stress out of unfiled tax returns and take that anxiety away.
Natural Disaster Relief
If your home or business was damaged through a flood, fire, or some other form of natural disaster, you may be able to qualify for a tax relief through the IRS. We can help you evaluate your situation to see if you qualify for this type of help.
Fresh Start Tax Relief
The IRS is offering more flexibility to people that owe taxes with a program called the Offer-In-Compromise. This program is designed for individuals who are struggling financially and allows for a settlement in which the individual pays less than the amount owed. The purpose of the program is to help taxpayers settle their debt with the IRS and be able to put themselves back on track.
If you disagree with the IRS over the amount you owe, we can help you file an appeal. These appeals are responsible for settling over 100,000 cases per year and can be extremely beneficial. We’ll help you prepare your protest filing and explain the process to you.
Hiring military veterans, reclassifying nonemployees as employees, and paying health insurance for employees can result in additional tax credits for small businesses. Talk to us to find out how to take advantage of these programs.
Frequently Asked Questions:
Q: I haven’t filed in a few years and I don’t have my W-2’s?
A: We can help you get that information and help you recreate the data needed to file your taxes for those past years.
Q: What if I am not currently working?
A: We can let the IRS know and work with them to give you time to find a new job.
Q: What if we do not have enough money to pay the payroll taxes and I keep falling behind each month?
A: Call us immediately! Payroll taxes are one of the worst. Let us help you make a plan to stop incurring more penalties?
Q: Can you stop the IRS from charging so much interest and penalties.
A: It is possible, but we need to know more. In some cases the IRS charges those penalties so that people learn from their mistakes. But let us look at it, depending on the situation there are requests we can make.
Enjoy peace of mind when it comes to your financial health. Call us today at (480) 664-1249.