installment agreement: I Just Got A FINAL Notice From The IRS - What Do I Do?
- 07/14/23 04:23 PM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, and across the United States. If you receive a final IRS notice, it is important to take immediate action to address the issue. Here are steps you can take: 1. Read the notice carefully: Understand the reason for the notice, the deadline for response, and any actions required from your end. 2. Gather necessary documents: Collect all relevant documents, such as tax returns, W-2 forms, and receipts, to support your case or to verify any discrepancies. 3. Contact the IRS: If you have any questions or need clarification, call the phone number provided on the … (2 comments)
Having an IRS installment agreement in place is a step in the right direction when it comes to resolving your tax debt. However, there may be instances where you find yourself unable to afford the agreed-upon payments. It is important to address this situation promptly to avoid any potential consequences. If you find yourself in a situation where you cannot afford to pay your IRS installment agreement, there are a few options you can consider: Contact the IRS: Reach out to the IRS as soon as possible to … (2 comments)
installment agreement: I Keep Hearing About the IRS "FRESH START INITIATIVE". What Is It?
- 07/12/23 11:21 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, and across the United States. The Internal Revenue Service (IRS) Fresh Start Initiative is a set of policies and programs designed to help taxpayers who are having difficulty meeting their federal tax obligations. It includes several new programs, such as expanded eligibility for payment plans, tax lien reductions, and easier access to the Offer in Compromise program. The goal of the Fresh Start Initiative is to provide taxpayers with more flexibility and to make it easier for those who can’t pay their taxes to come into compliance. Under the Fresh Start Initiative, … (0 comments)
installment agreement: Can I Go To JAIL For Not Paying Payroll Taxes?
- 07/07/23 11:29 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, and across the United States. As a business owner, it is your responsibility to make sure that you are paying your payroll taxes on time and in full. Failure to do so can have serious consequences, including fines, penalties, and even jail time. If your business fails to pay payroll taxes, the IRS can take legal action to collect the money owed. Penalties and interest will continue to accrue on the outstanding amount until it is paid in full. However, if the IRS determines that the failure to pay is due to willful … (1 comments)
installment agreement: IRS Payroll Tax Issues: Causes and Solutions
- 07/06/23 11:03 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, and across the United States. Payroll tax issues can cause significant headaches for businesses, especially small ones that may not have the resources to stay compliant with the rules and regulations of the Internal Revenue Service (IRS). In this blog, we will discuss the causes of payroll tax issues and provide some solutions to help businesses overcome them. Causes of IRS Payroll Tax Issues The following are some of the causes of IRS payroll tax issues that businesses may encounter: Misclassification of employees - businesses may classify their workers as independent contractors instead of … (3 comments)
installment agreement: Can the IRS Seize My Home and Assets?
- 04/24/23 08:39 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, and across the United States. If you owe taxes to the IRS and are unable to pay, you may be concerned that they will seize your home and assets. While the IRS does have the power to seize property to satisfy a tax debt, it is important to note that this is not something that happens without warning. The IRS would generally only consider seizing a taxpayer's property as a last resort. Before taking such a drastic step, the IRS would typically send multiple written notices and give the taxpayer opportunities to make … (2 comments)
installment agreement: What Tax Debt Relief Am I Eligible For?
- 04/20/23 10:30 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, and across the United States. If you find yourself in a position of owing back taxes to the IRS, you may be eligible for IRS tax debt relief through one of several methods. As with any debt, the sooner you act to remedy the situation the better, so understanding the available options is key. Generally speaking, the IRS will accept a payment plan for back taxes owed and may grant some type of penalty or interest abatement depending upon your financial situation. Though it may be burdensome to pay the debt back … (0 comments)
installment agreement: Boulder, CO: What To Do If I Haven't Filed My Tax Returns In Years?
- 01/07/23 02:09 PM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, Texas, New York, California and elsewhere. If you haven't filed recently, or in years for that matter, you should file all returns as soon as possible regardless of the reason for not filing. If your return(s) wasn't filed by the due date (including extensions of time to file): You may be subject to the failure-to-file penalty, unless you have reasonable cause for your failure to file timely. Tax not paid in full by the original due date of the return (regardless of extensions of time to file) may also result in the … (0 comments)
installment agreement: Boulder, CO: The IRS Filed a Federal Tax Lien By Mistake - Now What?
- 01/28/20 02:36 PM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, Texas, New York, California and elsewhere. Recently I had a client who owed less than $50,000 and wanted to set up an installment agreement, but also wanted to avoid getting hit with a tax lien filing. Generally, this is done by doing what is called a direct debit installment agreement, where forms are sent into the IRS, and once all documentation is processed, the IRS automatically withdraws the money out of your bank account. After properly setting up the agreement, we all thought it was a done deal. I was told by the IRS agent that the client would receive … (1 comments)
installment agreement: Boulder, CO: Back Tax Debt? Here Is How To Spend Your Money!
- 01/26/20 08:54 PM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, Texas, New York, California and elsewhere. The single biggest thing you can (and NEED) to do is get into compliance (ie - file your tax returns). The IRS simply will not deal with you or speak to you unless they have the returns to work off of. Ideally, no matter what your tax filing situation is, the ultimate goal is pretty straight forward: file all of your back returns (typically the six most recent prior years), and deal with whatever amounts you owe for those years. There are several collection alternatives to resolve your situation such as an installment … (2 comments)
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, and across the United States. If you receive a final IRS notice, it is important to take immediate action to address the issue. Here are steps you can take:
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