IRS Audits Montgomery, AL - KIM CPA Montgomery, AL
- IRS AUDIT REPRESENTATION
- NON-FILED TAX RETURNS
- BACK TAXES OWED
- PAYROLL TAX PROBLEMS
- IRS SEIZURES
- IRS WAGE GARNISHMENTS
- IRS LEVIES
- IRS LIENS
- OFFER IN COMPROMISE
- IRS PAYMENT PLAN
- INNOCENT SPOUSE RELIEF
IRS AUDIT REPRESENTATION
An IRS audit is one of the most threatening experiences you may face as an individual or business owner.
Nothing strikes fear in the hearts of people more than receiving an IRS Audit letter in the mail. Audits take significant time away from your business and family, requiring you to gather mounds of records substantiating each and every item reported on your tax return and develop a comprehensive understanding of tax law.
Government agencies looking for revenue sources are raising collection efforts. Failure to pay tax penalties can add up to 25% on top of your unpaid taxes. A federal tax lien can attach to your house, your bank accounts and investments, all your current and future assets as long as a balance on the lien is outstanding. This could affect your ability to get credit, and your tax debt may continue even if you file for bankruptcy.
The worst thin you could do with an IRS audit is to ignore it; the IRS won’t forget about you! The best thing you can do is to get professional help immediately.
You want IRS audit assistance from a professional like Kim Clenney. She is a CPA and attorney with over 20 years of IRS experience. She knows how to speak with IRS agents; she knows how to reach a quick and fair resolution on your behalf.
NON-FILED TAX RETURNS
Failing to file your tax returns is a criminal offense. If you do not file, you can be prosecuted and punished with potential jail time, one year for each year not filed. Why risk potentially losing your freedom for failing to file your tax returns!
Let us give you the peace of mind you deserve by helping you get in compliance with the law. If you voluntarily file your delinquent returns you’ll likely avoid further problems other than having to pay the interest and penalties.
If you wait for the IRS to file your returns for you, they are filed in the best interest of the government, usually with little or none of the deductions you are entitled to.
Before anything can be done to extract you from this predicament all the returns must be filed. You must be current. In most cases, you will likely owe taxes, interest, and penalties after the returns are filed. Once we see how much is owed, we’ll set a course of action to get you off the hook!
BACK TAXES OWED
You have filed your returns but didn’t have the money to pay what was owed. Before you know it you find yourself several years in arrears and suddenly there is a notice from the IRS, stating that you owe three for four times the original amount.
We offer several options when it comes to resolving unpaid taxes.
PAYROLL TAX PROBLEMS
The IRS views failing to pay payroll taxes as the cardinal sin of tax delinquency because a large portion of the payroll taxes are your employee’s withholdings. Not paying your company’s payroll taxes is tantamount to stealing your employees money in the eyes of the IRS.
As a result, penalties for failing to pay your payroll taxes and filing your payroll tax returns on time are much more severe than other types of penalties. They can drastically multiply the amount you owe in very short time.
If you are behind on paying payroll taxes for your company, WATCH OUT!! The IRS is extremely aggressive pursuing collection of this type of tax. They would rather seize your business assets, close you down, sell your assets at auction, and put you out of business than allow you to continue amassing additional payroll tax liabilities.
If you are behind on your payroll taxes, DO NOT meet with the IRS on your own. How you answer their initial questions can determine whether you stay in business or not. It is critical you hire a professional representative who knows how the IRS operates.
Seizures usually happen in aggravated cases when someone ignores many requests by the IRS over a long period of time to pay their outstanding taxes.
When the IRS seizes your assets they want to quickly sell them at auction. They often get less than half your assets value, so they often seize everything you own including your home, cars, boats, jewelry, motorcycles, insurance policies, and even your retirement funds.
If you’ve received and IRS seizure notice, it’s time to act now!
IRS WAGE GARNISHMENT
Once a wage garnishment is filed with your employer, your employer is required by law to collect a large percentage of each of your paychecks.
What’s left is not enough to pay the rent, car payment, buy groceries, or pay the rest of the bills. This action will continue on every check due you, until the tax is paid in full.
We are regularly retained to negotiate the release of IRS wage garnishments by arranging a payment plan. The payment plan negotiated by us is always more favorable than any IRS wage garnishment. It allows you to receive your whole paycheck without fears of future garnishments.
Levies are used to seize your wages and whatever other assets you have. If you own it, they can take it. That includes checking accounts, autos, stocks, bonds, boats, paychecks, and even Social Security checks!
They know that levying you bank account will cause checks to bounce, alerting many people that you have tax problems. But they don’t care! Their sole objective is to collect the taxes owed. Period.
A wage levy (or garnishment) is when most of your pay check goes to the IRS, they don’t leave you enough to pay the bills, and most of your check goes to the IRS each and every week until the debt is paid.
If that doesn’t accomplish what they want, they’ll pull out all the stops. They’ll seize your assets, and sell them at auction. That includes everything you own; home, cars, boats, jewelry, motorcycles, insurance policies, retirement funds, anything of value.
We are often able to get these levies released and help you get out of this terrible situation.
When your taxes are not paid the IRS establishes a lien against all of your assets (especially real estate). This gives the IRS the legal right to collect taxes from the sale of your assets, which includes just about everything you own.
A lien against your company would seize your accounts receivable.
Liens filed against you by the IRS also show up on your credit report and often prevent you from opening a checking account or borrowing against any assets, like your home.
With a federal tax lien on your record you can’t get a reasonable loan to purchase a car. You definitely can not buy or sell any Real Estate. The list is endless.
OFFER IN COMPROMISE
This is an agreement that can grant taxpayer relief to pay a lesser amount than the total amount owed to the IRS. The detailed written offer allows the IRS to consider your ability to pay based on information such as your income, expenses and net worth.
The program allows taxpayers to settle with the IRS on tax debt that has been incorrectly assessed or for liabilities they cannot afford to pay.
The IRS Code state: “We will accept an Offer in Compromise when it is unlikely that we can collect the full amount owed and the amount you offer reasonably reflects the collection potential…”(IRS code section 7122)
IRS PAYMENT PLAN
If you don’t qualify for an IRS Offer in Compromise program, a Payment Plan may be the way to resolve your problem. Setting up a payment plan with the IRS gives you a little more time to pay off your tax debts.
Unfortunately, penalties and interest will continue to be charged on your outstanding balance as you pay the debt off. You are required by law to pay the interest on you tax debt.
The good news is that there’s a chance we can get your tax penalties removed.
Your back taxes, interest and penalties can be wiped out by filing bankruptcy. If you qualify, bankruptcy can be the best solution to resolve you crushing tax problems.
Unfortunately, not everyone qualifies to wipe out their tax debt in bankruptcy.
INNOCENT SPOUSE RELIEF
Did you know that you can get out of the tax debt due to the misdeeds or fraud committed by your spouse? Innocent Spouse Relief was designed to alleviate unjust situations when one spouse was clearly the victim of fraud perpetrated by their spouse or ex-spouse.
If you qualify for Innocent Spouse Relief, you may not owe any tax.
Before you call one of the large advertisers claiming to solve problems for pennies on the dollar, take the time to talk to your trusted, local CPA.
We are here to help you resolve your tax problems and put an end to the misery that the IRS can put you through. We pride ourselves on being very efficient, affordable, and extremely discrete.
Resolve your tax problems by keeping “Kim in Mind”.