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Audit Representation https://blog.cleartaxsupport.com/audit-representation/ Thu, 18 Jul 2019 20:29:29 +0000 http://blog.cleartaxsupport.com/?p=39
cleartaxsupport

Written by cleartaxsupport

July 18, 2019

 

An IRS audit is a review/examination of an organization’s or individual’s accounts and financial information to ensure information is being reported correctly, according to the tax laws, to verify the amount of tax reported is substantially correct. Note that selection for an audit is not directly influenced by existence of possible errors in the information you provided the IRS – sometimes, you are chosen solely on basis of a statistical formula.

How does it affect me?
If you are following the tax laws and you provide the IRS with correct information, there is usually no need to be worried about an audit. However, it might happen that you omit or forget one of your responsibilities as a taxpayer, or your rights are not uphold in their complete wording. It is also good to always keep in mind that professional counselor allows you easier proceeding with the whole review.

We can help!
Our team has years of experience in the field of closing federal income tax audits, and we offer our help to you. Let us represent you during the ongoing audit, overseeing it goes as smoothly as possible. We will make sure that you are treated as stated by the law while no responsibilities towards the government is going to be omitted, neglected or forgotten.

 

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Prepare Unfiled Tax Returns https://blog.cleartaxsupport.com/prepare-unfiled-tax-returns/ Thu, 18 Jul 2019 20:26:58 +0000 http://blog.cleartaxsupport.com/?p=36
cleartaxsupport

Written by cleartaxsupport

July 18, 2019

Have you forgot to file a tax in past? Were you trying your luck, did you find lost in the all legal regulations or were you unaware of such responsibility? Be it one case or another, the IRS is keeping you under a specific label – non-filers – and will contact you one day to remind to you that you forgot to pay, neglected such responsibility or failed to pay on the
prescribed time your taxes. Of course, this notice is never only to remind you old debt, it is also to inform you that you have to settle it.

How does it affect me?

Basically, you are reminded directly by the IRS to pay your tax debt from past as well as to file any returns you neglected to. If you neglect such notice, you are facing possibility to have issued a tax lien on your property or, in the worst case scenario, a levy which will be used to cover your debt.

We can help!

Once you receive such reminder, contact us so we review your case and find the most reasonable solution applicable in your case. Our team consists of experts in the field of federal taxes, and we will gladly help you out with this specific issue, preparing all forms necessary for you to file requested returns and to ensure you will not need to face enforcement procedures initiated by the IRS.

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Wage Garnishment Release https://blog.cleartaxsupport.com/wage-garnishment-release/ Thu, 18 Jul 2019 20:21:32 +0000 http://blog.cleartaxsupport.com/?p=34
cleartaxsupport

Written by cleartaxsupport

July 18, 2019

Have you forgot to file a tax in past? Were you trying your luck, did you find lost in the all legal regulations or were you unaware of such responsibility? Be it one case or another, the IRS is keeping you under a specific label – non-filers – and will contact you one day to remind to you that you forgot to pay, neglected such responsibility or failed to pay on the
prescribed time your taxes. Of course, this notice is never only to remind you old debt, it is also to inform you that you have to settle it.

How does it affect me?

Basically, you are reminded directly by the IRS to pay your tax debt from past as well as to file any returns you neglected to. If you neglect such notice, you are facing possibility to have issued a tax lien on your property or, in the worst case scenario, a levy which will be used to cover your debt.

We can help!

Once you receive such reminder, contact us so we review your case and find the most reasonable solution applicable in your case. Our team consists of experts in the field of federal taxes, and we will gladly help you out with this specific issue, preparing all forms necessary for you to file requested returns and to ensure you will not need to face enforcement procedures initiated by the IRS.

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Bank Levy Release https://blog.cleartaxsupport.com/bank-levy-release/ Thu, 18 Jul 2019 20:20:17 +0000 http://blog.cleartaxsupport.com/?p=32
cleartaxsupport

Written by cleartaxsupport

July 18, 2019

A levy, in general, is permitting the IRS to legally seize your property to satisfy your tax debt if you do not pay your taxes accordingly (or make arrangements to settle your existing debt). Levies are different from liens as a lien represents a legal claim against your property to secure payment of the tax debt, while a levy actually takes the property to satisfy the tax debt. Needless to say that a lien might change to a levy once you neglect your responsibility to pay your debt or you directly refuse to pay it.
 
A bank levy is a specific case in which IRS issues a levy on your bank account, using your financial account(s) to satisfy the debt fully.
 
How does it affect me?
The IRS will deliver to you a Final Notice of Intent to Levy and Notice of Your Right to A Hearing in case you neglected your responsibility to pay a tax. If you refuse to pay the tax or to follow neglecting such need, a bank levy is issued and your financial assets on your bank account(s) will be used by the IRS to cover your tax debt. This is usually accompanied by additional fees paid to your bank for proceeding the levy, and it might result to causing you a hardship.
 
We can help you!
If you find yourself in a situation that a bank levy was issued on your name, contact us so we can review accordingly your specific case, and evaluate your eligibility for withdrawing the levy by the IRS. This will allow you to settle the debt the standard way. Have your property been seized even though you settled your debt? Contact us as well as we will review the case and when found eligible, we will contact the IRS asking them to return your seized assets once your debt is already paid.

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Installment Agreement https://blog.cleartaxsupport.com/installment-agreement/ Thu, 18 Jul 2019 20:16:24 +0000 http://blog.cleartaxsupport.com/?p=30
cleartaxsupport

Written by cleartaxsupport

July 18, 2019

Installment agreement introduces an option for taxpayers who are financially unable to immediately settle their tax debt to divide the
overall amount into sequential monthly payments that they are able to collect during the prescribed period of time.

How does it affect me?

You are able to show the government you want to settle your tax debt. It shows the IRS that you do not neglect paying the debt, but you
lack financial assets to settle the debt immediately. This option allows you to pay every month a firmly stated amount to settle, step by step, your debt avoiding possible tax lien to be issued on your name.

We can help!

Allow us to reach out to you and help you with your specific situation to prosper fully from this option. We will provide you with
professional consulting of your tax problem, its review and evaluation of a monthly payment feasible for you and acceptable for the IRS.

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Penalty Abatement https://blog.cleartaxsupport.com/penalty-abatement/ Thu, 18 Jul 2019 20:15:21 +0000 http://blog.cleartaxsupport.com/?p=28
cleartaxsupport

Written by cleartaxsupport

July 18, 2019

A possibility to ask the IRS for administrative relief from penalties for failing to file a tax return, pay on time, and/or to deposit taxes. In general, it is possible to ask for a relief from a penalty on basis of:

  • Reasonable cause;
  • Statutory exceptions;
  • Administrative waivers;
  • Correction of service errors.

Contact us for more information and to find out what category applies to you.

How does it affect me?

The IRS knows that we all are people and it might happen from time to time that you either forget to pay the tax on time or your payment is slightly postponed due to circumstances out of your control. As a consequence, the IRS introduced the first time penalty abatement waiver that allows you to
ask for possible penalties to be withdrawn. However, acceptance of this request is not automatically granted and you need to prepare such request accordingly.

We can help!

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Offer In Compromise https://blog.cleartaxsupport.com/oic/ https://blog.cleartaxsupport.com/oic/#comments Tue, 29 Jan 2019 18:34:25 +0000 http://blog.cleartaxsupport.com//?p=1
cleartaxsupport

Written by cleartaxsupport

January 29, 2019

An offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can’t pay your full tax liability in a reasonable time horizon or doing so creates a financial hardship. For being approved for this solution, the IRS consider your unique set of facts and circumstances:

  • Ability to pay
  • Income;
  • Expenses;
  • Asset equity

How does it affect me?

This solution allows you to pay your tax while not paying its full amount which could put you into a financial hardship. Generally speaking, you will offer to the IRS the maximum amount you are able to pay or collect during the prescribed period of time. If your offer is accepted, you will be listed as a taxpayer who paid their tax successfully; as a consequence, you will avoid possible issue of future penalties, liens and levies.

 We can help!

Although this solution might seem appealing, it is usually recommended to check also different payment options before choosing an offer in compromise. We will gladly provide you with professional consulting, reviewing your case and checking all possible way to pay your tax. When offer in compromise will be found as the most suitable by our experts, we will choose the most suitable payment option for you, calculating amount that should be offered to the IRS.

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