Tax Resolution and Representation
Tax Resolution and Representation
Are you facing a city, state, or IRS tax problem? Does the IRS send you notices stating that you owe more tax? Are you being audited and dealing with collections, lien or levy?
Our associates are qualified to resolve your tax issues and represent your best interests before the IRS and all other tax authorities.
Wage Levy (Wage Garnishment)
A Wage Levy happens when the IRS sends to your employer a Notice of Levy requiring that a portion of your paycheck is sent to the IRS. The IRS usually receives a significant amount of your paycheck until your taxes are paid in full. To stop wage garnishment, you need professional help.
A federal tax lien is the government’s legal claim against your property when you neglect or fail to pay a tax debt. After the IRS makes a tax assessment and sends a demand for payment, they can put a tax lien on taxpayer’s property. Once the lien is placed, the IRS generally will not release it until the taxes, penalties, and fees are paid off. Potential tax resolutions include filing an appeal with the IRS and have your lien reconsidered, possible payment or penalty reduction, exploring if Statute of Limitations has expired or qualification as Currently Not Collectible might be a good fit, or if all else fails, installment plan.
A Seizure is a levy on your property. The IRS can seize your vehicle, valuable personal property, even your home, and sell it on the auction to a highest bidder to pay your taxes, interest, and penalties. But there are options available to stop it if you just received a notice: economic hardship, Offer in Compromise, Innocent Spouse Relief, Currently Not Collectable. If the IRS has already taken your property, Asset Levy Release can be requested.
Before requesting an installment agreement, you have to:
1) Be current on filing all prior year tax returns
- The IRS will only agree to an installment agreement if you’ve filed all your returns.
- Once you’ve entered into an agreement, it is a contract and you must pay all future taxes timely or your agreement may default.
2) Determine how much you can afford to pay the IRS each month by creating a budget and analyzing monthly income and expenses.
Offer in Compromise
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, or if doing so would create a financial hardship. The IRS may approve an offer in compromise when the amount offered represents the most it can expect to collect within a reasonable period of time. The Offer in Compromise program is not for everyone. Unique set of facts and circumstances needs to be considered: ability to pay; income and expenses and asset equity.
Innocent Spouse Relief
By requesting innocent spouse relief, you can be relieved of responsibility for paying tax, interest, and penalties if your spouse (or former spouse) improperly reported items or omitted items on your tax return. If the IRS tax bill is due to your former spouse’s fraud or negligence, we can help to determine if you qualify for tax relief and negotiate with the IRS for the most favorable outcome for you.
Currently Not Collectible
There are times where you agree you owe the IRS, but you can’t pay due to your current financial situation. If the IRS agrees you can’t both pay your taxes and your basic living expenses, it may place your account in Currently Not Collectible (CNC) status.
AI TAX CONSULTING - LICENSED NORTHERN VIRGINIA CPA FIRM
Accounting and Bookkeeping, Tax Preparation Services in Northern Virginia