Accounting Blog & News

IRS TAX PROBLEMS

Do you have any issue with the IRS?

Before you choose to call one of those hyped up,  big advertisers that claim they can resolve your issues, why don’t you take a few minutes to talk with a  reliable and professional local tax representative?
We can help you resolve the tax issue you are experiencing and end all the misery the IRS is taking you through. We pride ourselves on being extremely active, affordable and very discrete.
Resolve your tax issue knowing you’re in good hands. You can contact our office to set-up a free consultation.
Below are the services we can help with:
• Wage Garnishment
IRS wage garnishment can be defined as the deduction of a certain amount of money from a worker’s monetary pay due to unpaid IRS taxes. Undoubtedly, this shouldn’t come as a surprise since the IRS will only charge one's wages after repeated warning and letters regarding the taxes owed. This is the driving tax collection mechanism of the IRS, and it shouldn’t be taken lightly. The IRS can resolve taxes in various ways, but they’ll charge when they explore other options. It is imperative to understand how wage garnishments work so you can take the right steps to stop or avoid the IRS from charging your wages.

• Bank Levy  
The IRS charge allows the legal seizure of property to settle a tax debt. It can receive compensation, remove money from your bank account or other related financial account, seize and sell your real estate, vehicle(s) and other personal property. If you receive an IRS notice titled “Final Notice of Intent to Levy and Notice of Your Right to A Hearing,” get in touch with us immediately! 

• Threatening Letters
IRS Threatening Letters are Not Something You Can Joke With – They Mean Every Single Word They Say!
When the IRS carries out their threats, disregarding their threatening letter is the last thing you want to do. To start with, you ought to check the facts in those letters. If you notice there’s something wrong in their calculations, assessments or your liabilities, write them a polite letter clarifying their omission and errors and see if the situations are resolved. If the IRS get to the stage of sending you threatening letters, you might be somewhat more proactive in solving the situation before they get to be proactive themselves. You don't want this to happen. If you permit the IRS to make a move before you do, it will bring about superfluous suffering from their end. The IRS has substantial powers with regards to collecting duties, and they’re hardly prone to adopting the lightweight strategy. The IRS conveys threatening letters when they think that you owe them; beyond that, they’ve little interest in you.

• IRS Audit Notification
Did The IRS Send you an Audit Letter? – There’s no need to panic. The IRS employs the use of the Audit Letter to communicate with the taxpayers in regard the IRS audits. Similarly with most of their communication, there are due dates associated with IRS audit notification letters. You’ll have enough time to evaluate the things that are being contested in the letter and prepare your response. Choosing a return for examination doesn’t propose that the taxpayer has either been dishonest or made an error. In fact, certain examinations happen to be a refund to the taxpayer or acknowledgment of the return with no change.

• Non-Filing
What if you neglect to file? - The IRS might record what’s acknowledged as a substitute return for you. However, as we all know, the IRS won't look to spare you any cash. In fact, a substitute return would exclude any of the standard deductions your accountant will normally incorporate in your return. For example, a substitute return permits just one exemption: single or married filing separate, so you wind up with higher tax liability than when you would have filed.

• Offers-in-Compromise
Cut down Your IRS Debt with an Offer-In-Compromise - Eligible for an offer-in-compromise settlement can spare you a huge amount of dollars in taxes, interest, and penalties.  An offer-in-compromise is an agreement between the IRS and a taxpayer to reduce the tax liabilities of the individual less than the full amount owed. Missing special conditions, an offer won't be acknowledged if the IRS understands that the tax liability can be paid fully either as a one-time payment or through an installment payment.

• IRS Seizures
IRS Seizures and Process to Protect Oneself - A federal tax lien emerges when a tax return is filed, and the taxpayer refuses to pay after payment has been demanded. By law, the lien is supportive of the United States and is upon all property as well as rights to property of the individual with the unpaid tax. This provides the IRS the power to seize all proceed from sales of real-estate owned by the reprobate taxpayer. To protect the right of priority by the government against other parties who’re owed money by the same individual, the IRS will send out a Notice of Federal Tax Lien, which notifies other creditors about the IRS's claim.

• Innocent Spouse
Charge Debt and Innocent Spouses – Most married taxpayers file a joint tax return due to the specific advantages this filing status permits. Both taxpayers are individually and jointly accountable for the tax and any penalty or interest due on the joint return regardless of the possibility that they later divorce. This is real even if the divorce decree declares that ex-spouse will be accountable for all amount due on joint tax returns that were previously filed. One spouse might be held answerable for any tax due even if all income was earned by the other spouse.
Sometimes, a love partner will be relieved of the tax, penalties and interest on a joint tax return. Below is the three types of relief one can use:

  • Innocent spouse relief
  • Separation of liability
  • Equitable relief

IRS TAX EXPERT - ACCOUNTANT - CPA MIAMI

Certified Public Accountant and Tax Expert Serving Miami, Florida