Are you caught in the grip of IRS tax problems or controversy? Before you call one of the large tax debt advertisers claiming that they can solve your problems for pennies on the dollar, take the time to talk to your trusted, local experts at McDonald Tax Consulting LLC.
We have the solutions to help solve your tax problems and put them behind you for good. When you choose to work with our Southaven, MS, tax professionals, we will negotiate with the IRS directly on your behalf. From back taxes and IRS audit representation to tax liens, tax levies, and wage garnishment, we know how to come to a fair resolution with the IRS.
Once we have the facts, we will present you with tax relief options that offer the best result for your circumstances. We can set up an installment agreement or an offer in compromise to pay off your tax debt; and we can also assist you in filing for penalty abatement, innocent spouse relief, or currently not collectible status if needed. No matter what tax problems you’re experiencing, we’ll patiently answer all your questions and address any concerns so that you can make an informed decision that will solve the issue once and for all.
We can help you with the following IRS tax problems:
- Bank Levy– An IRS levy permits the legal seizure of your property to satisfy a tax debt. It can garnish wages, take money from your bank or other financial account, seize and sell your vehicle(s), real estate and other personal property.
- If you receive an IRS bill titled “Final Notice of Intent to Levy” and “Notice of Your Right to A Hearing,” contact us right away at (833) 227-8292.
- If you receive an IRS notice of levy against your employee, vendor, customer or other third party, it is important that you comply with the levy.
- Wage Garnishment – IRS wage garnishment is the deduction of money from an employee’s monetary compensation resulting from unpaid IRS taxes. Most likely this should not be a surprise as the IRS will only levy one’s wages after repeated letters and warnings about the taxes owed. This is one of the IRS’s most aggressive tax collection mechanisms and should not be taken lightly. The IRS would rather resolve taxes in a different manner, but they will levy when they feel they have run out of other options. It is important to understand how garnishments work to ensure you take the appropriate actions to avoid them or stop the IRS from taking your wages.
- Threatening Letters – The IRS carry out their threats, so ignoring an IRS threatening letter is absolutely the worst thing to do. First, you should check the facts in the letter. If there is anything amiss in their calculations or your liabilities or their assessment, write a polite letter back explaining the error or omission; and see if they will remedy the situation. If they have reached the point where they are sending you threatening letters however, you may need to be a little more proactive in resolving the situation before the IRS become proactive themselves. You do not want this to happen. If you allow the IRS to take action before you do, it will result in you unnecessarily suffering at their hands. The IRS has considerable powers when it comes to collecting taxes; and they are rarely, if ever, prone to taking the lightweight approach. The IRS sends out threatening letters when they know or think they know that you owe them money; beyond that, they have little interest in you.
- IRS Audit Notification – Did You Receive an Audit Letter From the IRS? – The first step is not to panic. The IRS uses letters to communicate with taxpayers about IRS audits. As with most IRS communication, there are deadlines associated with IRS audit letters. You will have time to review the items that are being contested and prepare your response. Selecting a return for examination does not always suggest that the taxpayer has either made an error or been dishonest. In fact, some examinations result in a refund to the taxpayer or acceptance of the return without change.
- Non-Filing – What if you fail to file? The IRS may file what is known as a “substitute return” for you. However, as you well know, the IRS will not be looking to save you any money. In fact, a substitute return will not include any of the standard deductions your accountant or tax preparer would typically include in your return. Case in point, a substitute return only allows one exemption – single or married filing separate, so you end up with higher tax liability than if you would have just filed.
- Liens – A federal tax lien arises when a tax return is filed, and the tax isn’t paid after a demand for payment has been made. By law, the lien is in favor of the United States and is upon all property and rights to property of the person with the unpaid tax. It gives the IRS the authority to seize any proceeds from sales of real estate owned by a delinquent taxpayer. To protect the government’s right of priority against other parties who are owed money by the same person, the IRS will file a “Notice of Federal Tax Lie,” which puts other creditors on notice about the IRS’s claim.
Our Tax Debt Solutions include:
– Installment Agreements – A payment plan to pay back tax debt in monthly installments is called an installment agreement. There are several types offered by the IRS such as:
- Automatic Installment Agreement
- Streamlined Installment Agreement
- Regular Installment Agreement
– Offers-in-Compromise– Reduce Your IRS Debt with an Offer-In-Compromise. Qualifying for an offer-in-compromise settlement can save you thousands of dollars in taxes, penalties and interest. An offer-in-compromise is an agreement between a taxpayer and the IRS to settle the taxpayer’s tax liabilities for less than the full amount owed. Absent special circumstances, an offer will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through a payment agreement.
– Currently Not Collectible – This is a program offered by the IRS for taxpayers experiencing economic hardship. If the IRS agrees that you can’t pay your taxes and reasonable living expenses, then collection activity is suspended. This program puts your account on a temporary collections hold. Although the tax debt is not eliminated, and penalties and interest continue to accrue, it can be very helpful for those facing short-term financial difficulties.
– Innocent Spouse – Many married taxpayers choose to file a joint tax return because of certain benefits this filing status allows. Both taxpayers are jointly and individually responsible for the tax and any interest or penalty due on the joint return even if they later divorce. This is true even if a divorce decree states that a former spouse will be responsible for any amounts due on previously filed joint returns. One spouse may be held responsible for all the tax due even if all the income was earned by the other spouse. In some cases, a spouse will be relieved of the tax, interest, and penalties on a joint tax return. Contact us to find out if you are eligible to claim innocent spouse relief.
– Injured Spouse– Injured spouse relief may apply when a portion or all of a spouse’s refund is applied to the taxpayer’s past due tax or non-tax debt obligations. Examples of non-tax debt include child support and student loans.
Call us at (833) 227-8292 to learn more about our Tax Resolution Services, or request your free consultation online to get started now.