If you are not an Offer in Compromise candidate, there are still ways to request a reduction in your tax debt. These requests are called Penalty Abatements with the IRS and Penalty Abatements or Waivers with the States.

When an individual or group decides to open a new business, it’s a very exciting time. The possibilities are limitless! Daydreams of swimming through dollar bills like Scrooge McDuck and throwing parties like Jay Gatsby in the Roaring Twenties come to mind.

One of the scariest things is being told you have a tax debt and being threatened with the police showing up to arrest you or other threatening action where you must pay the debt in full or face severe consequences.

We’ve all seen the commercials… there’s usually a couple standing in front of a home with a nicely manicured lawn touting the amazing deal a tax debt resolution company negotiated on their behalf.

As a taxpayer, one of the most dreaded letters you can receive from the Internal Revenue Service is the one notifying you that you have been chosen for an audit of one of your prior year’s tax returns.

There is no more exciting (and often nerve-wracking) time in your life than when you decide to start a new business. The possibilities of what you can achieve are endless.

If you have had any exposure to the U.S. tax world, you have probably heard some of these phrases: liability, levy, tax lien, garnishment, Offer in Compromise, EA… it can be confusing if you don’t know what they mean!

Going through a divorce can be one of the most stressful experiences in life, and when tax debt enters the picture, it can feel overwhelming. We understand the emotional and financial strain that comes with divorce, and we’re here to support you every step of the way.

Income tax return filing extensions… wow, are they convenient when something happens in your life, and you can’t meet the IRS and State annual income tax return filing deadlines. However, as with anything, there is always a “con” to most “pros.”

I’ve always loved receiving mail. But what if you are a taxpayer with a balance owed to the IRS… seeing the postal delivery truck coming up your street could make you break out into a cold sweat. 

Our company’s focus in the financial world is on a small, often unknown corner of the tax industry: dealing with tax debt issues for individuals and businesses that owe the IRS or State past due income, payroll, unemployment, or sales tax.

Reasonable compensation for S-Corporation officers can always be the tax return line item to open a business to an audit. It is one of the first things reviewed by the IRS when a tax return has been filed to determine if an audit is necessary.

Operating a small business with employees can be extremely rewarding but also demanding in ways not always anticipated.

Having a tax debt can be daunting. You’re probably wondering whom you can talk to for help and what options you have for resolution. It’s not easy to navigate all the information available on the internet to determine what information is accurate, current, and applicable to your situation.

Many clients come to me with the following questions about their tax liens: I had a tax debt that I could resolve, and I have now paid off my tax debt. I received a notice that my tax lien was released, but I have heard about a lien withdrawal.

Imagine this: you have worked hard for your employer for the last two weeks, and when you receive your paycheck, it is significantly less than you were expecting! Your heart starts racing, and you immediately think, “wait, this can’t be right!”

The IRS can inform the State Department about taxpayers who are “seriously delinquent” with their tax debt, resulting in the suspension of their passport or denial of a passport application or renewal.

The excitement from the holidays is dying down, and we are all working on re-focusing on professional and financial matters. If you owe a tax debt that isn’t resolved, you’ve probably committed to yourself that this is the year you will focus on taking care of that debt, but you might not know the best way to go about it.

It’s that time of year when everyone is reflecting on what habits they would like to focus on and what changes they would like to make. If you owe a tax debt, resolving it is probably high on your priority list.

Exciting news! You want to form a business but need help figuring out what to do or where to turn. When it comes to forming a business, there are several factors and steps during the process you should take to ensure you are set up for success.