Frequently Asked Tax Resolution Questions
I am behind on filing my tax returns. Shouldn’t I just wait for the IRS to find me?
No! Penalties and interest accrue on tax debts, even if you have not filed. The longer you wait to file – the more you will owe! Some states offer voluntary disclosure programs that forgive penalties, but only if you reach out to them before they find you. Also, if you are due a refund, IRS allows only 3 years from original due date to file for a refund so don’t delay!
I owe more than I can afford to pay, what can I do?
Through the Fresh Start Program, the IRS offers installment payment plans if you find yourself with a tax bill too big to pay. You may also be a candidate for Offer in Compromise where you can settle your IRS debt for less than what you owe. Contact us to see if you qualify.
I received a letter in the mail from the IRS. Do I really need to call them?
Yes! If the IRS sends you a letter, you must open it. Find out what they are looking for. There are several reasons for an IRS letter and not all of them are so scary. It could be as simple as requesting additional information before they release your refund. Sometimes, they want documentation for something you claimed on your return. Contact your CPA if you do not understand the letter.
The IRS assessed a penalty on my account. Is there anything I can do?
Yes, often times we work with our clients and the IRS or state to get penalties abated. Call us about your situation.
The IRS letter I received says they are going to levy my property. What does that mean?
The IRS uses levies to collect overdue taxes. They may freeze and take funds from your bank accounts or garnish your wages or Social Security. There are steps you can take to prevent a levy. Call us to find out how.
Can the IRS take my passport away?
Yes, they can. It is possible to get your passport reinstated once you reach an agreement or settle your debt with the IRS.
I am embarrassed about my situation. Do I have to come to your office in person?
We see lots of people in tough situations. Our goal is to resolve your tax issues in the least stressful manner possible. Call us today and you’ll sleep like a baby tonight. We offer in-person meetings, virtual meetings and phone consultations to assist our clients.