What is Tax Relief?

Tax relief is a generalized term that covers dozens of tax laws and program created by the IRS and State taxing authorities. The actual types of relief depend on the circumstances of each taxpayer’s case. Tax relief isn’t limited to individual debts but can also apply to any business entity. Contact us today to find out which program(s) you qualify for.

Who qualifies for a tax relief program?

If you have a tax debt, and the IRS or state collection agencies are in the process of collecting, both individuals and businesses can qualify for certain tax relief measures. These could be a reprieve against collections, an agreement to waive accrued penalties on the initial tax liability, or in certain cases a suspension of collection altogether and a mediation of the tax liability. As qualifications for these measures vary from case to case, understanding your options and getting current with an accurate plan for the future are important considerations our associates will go over in depth with you.

You’re not local to me, can I still work with you?

Yes, we work in all 50 states. Since we are attorneys we are approved to negotiate with Federal and State taxing authorities without a “residency” requirement in each state. We can serve our clients easily through phone, chat, and email. Our corporate office is in Dallas, Texas.

What if I have years of un-filed tax returns?

Many taxpayers will accumulate tax debt at an alarming rate when their returns are not filed because the IRS submits the return for them on their behalf, commonly referred to as an SFR (Substitute for Return). This is the worst form of taxation as it allows for zero deductions and maximizes the IRS’s revenue. We frequently assist clients who haven’t filed their tax returns in years, and in many cases, we can reduce the liability that has accrued, bring the taxpayer legally current, and maintain their returns with our year-over-year tax planning and preparation service.

Here is more information on failure to file issues: Click Here.

How Much Do Your Services Cost?

Our fee will vary depending on what kind of services you require and the complexity of your case. Typically, we work on a flat fee basis and will only offer services if you actually need them. We require a small deposit at the time you engage us and will give you an accurate quote of all fees for your case that you approve before we proceed. If you engage us, 100% of your initial deposit is credited towards your final fee.

In many cases we offer interest free financing of our fees and may be the only tax relief company in America that offers a 100% money back guarantee.

How Long Will The Process Take?

The length of the process depends on answers to the following questions:

  • How much do you owe?
  • Do you want a payment plan or an offer in compromise?
  • Have you filed all your tax returns?
  • How soon do you want to start making payments?

Your personal goals will play a factor in how fast this issue is resolved.

What Documents Will The IRS Need To Review My Account?

This depends on how much you owe. If you owe $100,000 or less, it is possible that the IRS will need no documents from you. They have various settlement programs that you may qualify for. If you owe more than $100,000 and you want to make monthly payments or settle your debt, then the IRS will require a financial statement. The financial statement contains a list of your assets and income sources. You will need bank statements and other supporting documents.

Can I Just Use My Local CPA?

Yes, but as we’ve pointed out elsewhere on this site, a CPA or Enrolled Agent is approved by the IRS to represent you, but they have a responsibility to represent the IRS as well. Tax mediation and collection work is a niche service and is one that requires years of experience and knowledge. While your local CPA or Attorney may have a general understanding of your liability issue, the difference between our specialties is similar to hiring a general physician to perform brain surgery; education and experience are dramatically different.

Liability issues is all our firm does, and we have become experts in the field, consulting both individual taxpayers and corporations across the nation. Since we work with so many people, we can offer our services at affordable rates relative to some attorneys or CPA’s who charge by the hour with limited knowledge of tax law.

I owe over $1,000,000. Can you help?

Yes! We are one of the few firms with a division dedicated exclusively towards high dollar cases.

Will the IRS continue collecting once I’m represented?

We are generally able to stop most forms of collections against our clients quickly. When you decide to take advantage of our services, we will assume tax power of attorney (IRS form 2848) which allows us to do several very important things for you. First, it gives us authority to speak to the IRS on your behalf, letting us contact the IRS and request either a 30, 60, or 90 day hold on collections, and when appropriate, we can even place an account into what’s called CNC – Currently Non Collectible, wherein the IRS will cease collection action indefinitely.

The second thing the 2848 allows us to do is get your mail and notices, which keeps us current with your case and directs correspondence through our office instead of your mailbox. From here, we will work with you to tailor a program or relief option best suited to your needs.

Can the IRS take my social security income?

Yes, the IRS can and does levy social security income. Typically, 15% of your check. In some extreme cases, the IRS can levy 100%.

Is there such thing as a debt forgiveness tax calculator?

The internet is full of misleading tax debt calculators. However, because tax debt forgiveness is such a complicated matter, it’s best to consult with a professional to get the most accurate understanding of how IRS tax forgiveness could help you.

Here is a more in depth article on determining how much you may owe the IRS. Click Here.

What Happens To My Refund If I Already Owe The IRS?

If you already owe the IRS money, then your refund will get applied to that balance. If your refund is more than what you owe, then the IRS will send you the difference.

What Is the Collection Statute Expiration Date (CSED)?

The Collection Statute Expiration Date (CSED) is the date after which the IRS can no longer collect tax from you. It is typically 10 years following the date the tax was assessed. The tax must be assessed before the CSED starts. So, if you did not file a 2012 tax return until 2014, the 10 years will not begin until 2014. Certain events can prolong the CSED.

What Is Transcript Analysis?

A transcript analysis is a detailed review of your tax history. Including, but not limited to: balances, payments, penalties, interest, CSED, etc.

Why Is Transcript Analysis Important?

A transcript analysis is important because it helps to establish your location in the overall process. How far away from a solution you are and what needs to be done to get you there.

What Types of Transcripts Does The IRS Have?

The IRS has several transcripts, including but not limited to, the following:

  • Wage and Income Transcripts – This shows by year any income that was reported to the IRS as paid to you.
  • Account Transcripts – This shows by year, the transactions on your account. Such as amount due, amount paid, interest, penalties, notices sent, etc.
  • Tax Return Transcript – This is essentially a copy of your tax return in a transcript format. It does not always contain all the information your original return would have.

Can I Keep Money Outside the US?

In a word, Yes. However this can be a complicated issue, and many “Internet Financial Guru’s” provide advice that can get you into serious difficulty with the IRS.

Learn more here: Offshore Banking.