Tax Relief

by Louis Meeks on December 20, 2014 in Blog

Tax Relief

Victory Tax Solutions “America’s Trusted Tax Team”

What comes to mind when I think of tax relief is someone who needs help with a tax situation with the IRS or the state.  By reaching out for tax relief help, the client is looking for a final resolution on the tax matter.

At Victory Tax Solutions, we get contacted by thousands of Americans every year, who are in search of tax relief.  There are many areas that people may need help in.  One area would be on under-reported income.  The client would receive a CP2000 notice from the IRS.  This will inform the taxpayer that they have underreported income for a specific year.  When the client receives this notice, they can call a tax resolution company in search of a solution, and in search of tax relief.  The tax resolution company would then work directly with the client and the IRS to get the matter resolved.

Another area that a client can need tax relief help is unfiled taxes.  It is very common for people to have  years of un-filed taxes.  The IRS will add penalties and interest on the years that are un-filed.  In some cases, the IRS will even file a tax return on behalf of the taxpayer.  This is called a Substitute Federal Return (SFR).  However, when the IRS “prepares” the SFR, they do not take into account any deductions the taxpayer may have, thus subjecting the taxpayer into even greater tax liabilities than necessary.

One other possible reason a person may need tax relief is if they receive a “Notice of Intent to Levy.”   This can be a very stressful time for someone who receives this notice.  The notice will state that if the taxpayer does not pay the full balance within 30 days, the IRS will levy their income or bank accounts.  Reaching out for tax relief from a legitimate tax resolution firm will help relieve the stress and put the situation in the hands of experienced and well qualified tax professionals.

Why should you choose Victory Tax Solutions to help you with a tax relief solution?  Victory Tax Solutions has a proven track record in all areas of tax relief.  We recently had a client that received a notice that he owed an amount to the IRS in access of $80,000.  He was a nervous wreck.  He was convinced the IRS was going to come to his door and take him to jail and take all of his possessions.  When the attorney from Victory Tax Solutions got involved, after much negotiations, he was able to not only get the levy released, he was able to get the amount lowered through an Offer in Compromise.  The client was very relieved.  While it is important to remember that not all cases are the same and Victory Tax Solutions cannot guarantee any specific outcome, contacting Victory Tax Solutions would be a step in the right direction to get your tax relief.

©2014VictoryTaxSolutions.com
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Tax Help Ann Arbor

by Louis Meeks on December 20, 2014 in Blog

Tax Help Ann Arbor

Victory Tax Solutions “America’s Trusted Tax Team”

Serving clients across the nation is what we do. Serving our local community is what we intend to do more of. Victory Tax Solutions knows how to resolve tax issues of all types.  We have earned a stellar reputation throughout the United States.  We are working to become the go-to company for tax help in Ann Arbor and all of Southeast Michigan.  When dealing with the IRS or the State of Michigan, it is important to have a company on your side to fight for your options and to prevent unnecessary negative outcomes for your tax debt.

Tax help in Ann Arbor is something that our community is struggling with, as well as the rest of the nation. Whether you are a W2 employee, 1099 individual, or a small-business owner, Victory Tax Solutions has the staff of tax professionals to help you fight and achieve the best possible outcomes. Victory’s team of highly educated and experienced tax attorneys are committed to their clients and the needs those clients have with respect to the debt owed to the IRS or State of Michigan.

One thing that Victory is focused on is “face the brutal facts.” The simple fact is that the need for tax help in Ann Arbor is great, and its citizens need a company that can be relied on. Reliance is defined as “the state of needing someone or something for help, support, etc.” Face the brutal facts, there is a black eye on the tax resolution industry.  This reputation may never go away. We can help those that are willing to look through the fog, and see the shining light that is Victory Tax Solutions. In our years of service to our clients, we have developed rapport with local IRS agents, and State of Michigan representatives, and utilize our contacts at the IRS to help our clients receive the best possible outcomes.

Every tax professional on our team takes the approach with the IRS and state tax agencies that “you get more bees with honey” What does that mean?  It means by treating the IRS representatives respectfully and courteously, we achieve respect from them.  That puts them in a situation wherein they are more very happy to work with us for a great resolution for you, our client.  This frequently results in a favorable outcome.

If you need tax help in Ann Arbor, call Victory Tax Solutions now at 1-877-772-0123.  Experience first hand, why we have earned our reputation as “Americas Trusted Tax Team.”

©2014VictoryTaxSolutions.com
Publishing Rights: You may republish this article in your web site, newsletter, or ebook, on the condition that you agree to leave the article, author’s signature, and all links.

IRS Tax Relief

by Louis Meeks on December 15, 2014 in Blog

GETTING THE IRS RELIEF HELP YOU NEED

The Internal Revenue Service is a bureau of the Department of Treasury. Its main function is to collect taxes and administer tax rules. The IRS has been in this business since 1862, and has a lot of experience in collecting taxes and administering rules.  If a taxpayer has an outstanding tax liability, their case would  likely be assigned to an agent within the IRS Service Center or a Revenue Officer at the local IRS office.  The Service Center operates as a call center where the taxpayer can get in touch with the IRS. However, if the case is assigned to a Revenue Officer, the taxpayer will likely be required to meet with an agent in person either at the agent’s office or the taxpayer’s personal residence. If the taxpayer is within an IRS audit, they will also likely be required to meet his Auditor in person to discuss their tax situation.

Depending on the complexity of a taxpayer’s IRS issue and the stress of working with an IRS agent, a taxpayer may find it beneficial to seek outside IRS relief help. Getting in touch with a tax professional  can make it easier for a taxpayer to resolve their tax issues. A tax professional can use their education, resources, and experience to provide fast and immediate help. This assistance can benefit the taxpayer in a few ways:

1. Time – A great deal of time can be saved by allowing the tax professional to operate as their personal agent.  One simple example lies in the fact that current hold times for the IRS frequently exceed 1.5 hours!
2. Stress Reduction-  Most tax professionals recommend the taxpayer to avoid direct communications with the IRS.  One simple reason is that the IRS can ask intimidating questions.  The taxpayers answers can and will be used against them.
3. Success-  By choosing a tax professional that is knowledgeable on what steps are needed to effectively resolve tax debts and negotiating the IRS relief help you need to live comfortably.

The help of a tax professional can take many forms. The professional can give a taxpayer relief in resolving past tax debts. The tax professional can also assist the taxpayer in audit or examination. Tax relief help can take many forms:

• Installment Agreements: A tax professional can inform the taxpayer of the various types of repayment plans that the IRS offers. These plans depend on many factors, and unfortunately many taxpayers are not aware of their available options. The IRS will look at many factors in determining the type of Installment Agreement relief to provide: including, amount of tax debt, type of tax debt (income, sales, payroll, etc.), and financial ability to pay.
• Hardship Resolution: This resolution is called Currently Not Collectible and is not advertised much by the IRS. This is because this form of relief allows the taxpayer to stop collection action until they are in a position to financially pay on their past tax debt. A tax professional can assist a taxpayer in determining if they qualify for this hardship resolution and can also deliver the IRS relief help needed to get back on your feet.
• IRS Settlements: Also known as an Offer In Compromise, this form of tax relief can take many months to finalize. It involves the collection and presentation of detailed financial information to the IRS. Although lengthy and somewhat complex, the benefits of settling a tax debt for less than the full amount owed can greatly change a taxpayer’s life by giving them a clean slate with the IRS.
•  Many other forms of IRS Relief help: Apart from the tax relief stated above, there are many other forms of relief that can provide help to a taxpayer. This includes penalty and interest abatements, innocent/injured spouse claims, lien removals, garnishment and levy releases, audit defense etc.

Victory Tax Solutions employs full time tax attorneys, CPA’s and other tax professional who have the knowledge and experience to deliver the result you desire.  Please call Victory Tax Solutions today to speak with one of their account executives.  The call is toll free 1-877-772-0123

©2014VictoryTaxSolutions.com
Publishing Rights: You may republish this article in your web site, newsletter, or ebook, on the condition that you agree to leave the article, author’s signature, and all links completely intact.

IRS Tax Levy and Garnishment Relief

by Louis Meeks on December 15, 2014 in Blog

IRS Tax Levy and Garnishment Relief

In the tax world, the terms IRS tax levy and garnishment relief can get tossed around a lot, but they mean essentially the same thing: the IRS is going use its authority to seize money owed to it by a taxpayer, typically from a bank account or the taxpayer’s wages.

When a taxpayer is levied, they typically receive a number of notices prior to the levy going into place. The language varies based on the stage of the collection process the taxpayer is in, but generally it will include amounts owed, and deadlines for responding before the IRS will proceed with the levy. These deadlines are for real, and taxpayers need to keep a close eye on them to avoid the levy.

How to avoid a levy or garnishment before it happens:

Typically, with enough notice and concerted effort by the taxpayer, levies can be avoided before they are even issued. Taxpayers are encouraged to reach out to the IRS and work out a payment arrangement to satisfy the past due taxes, or seek an alternative resolution based on a financial hardship (e.g. currently non-collectible status, an Offer in Compromise, etc.). As long as taxpayers actively respond and meet their deadlines, and ultimately resolve their issues with the IRS, levies can be avoided.

IRS Tax Levy and Garnishment Relief:

Once a levy is in place on money, it is often more difficult to get the levy or garnishment released. As a general rule, the IRS will only release a levy under one of two circumstances:

1. Pay the amount owed in full
2. You enter into a payment or hardship agreement with the IRS

For most taxpayers with significant tax debt, the only way to release an IRS tax levy or garnishment is to enter into a payment agreement with the IRS. “Hardship agreement” is an umbrella term, referring to either Currently Non-Collectible Status (where the IRS seeks no money on a monthly basis for a limited period of time), an Offer in Compromise (where the IRS agrees to accept less than what is owed, based on the taxpayer’s reasonable collection potential), or finally, a partial payment installment agreement (in which the IRS accepts a smaller monthly payment that will never fully satisfy the debt).

The type of agreement that is best suited for the taxpayer varies greatly depending on the taxpayer’s individual financial circumstances, and the overall amounts owed. Because there are a variety of options available to taxpayers, if you owe significant amounts of debt, it is likely in your best interest to contact a tax attorney to better explain your options.

One final note to consider: If the IRS levies a bank account, rather than wages, it can often be more difficult to recover the levied amounts. Once a bank account is levied, the bank will hold onto the proceeds for 21 days before forwarding the money to the IRS. During those 21 days, the taxpayer can attempt to resolve the issue. However, reversing bank levies often requires a pressing financial emergency or the like before the IRS will recant. With that in mind, it’s just one more reason being proactive about tax problems is almost always in your best interests.

If your wages or bank accounts have been subject to an IRS tax levy or garnishment, please contact the tax professionals at Victory Tax Solutions. Our team of experienced tax attorneys will be able to accurately assess your problem and make recommendations that better suit you, and may help avoid or release a pressing tax levy or garnishment. We can be reached at 877-772-0123.

©2014VictoryTaxSolutions.com
Publishing Rights: You may republish this article in your web site, newsletter, or ebook, on the condition that you agree to leave the article, author’s signature, and all links

IRS Tax Attorney For Federal Tax Matters

by Louis Meeks on December 15, 2014 in Blog

WHY AN IRS TAX ATTORNEY SHOULD BE YOUR FIRST CALL FOR ANY FEDERAL TAX MATTER

When you receive a notice from the Internal Revenue Service for taxes owed, they prominently display that the amount owed is “due immediately.”  Most likely, the amount asserted by the IRS is more than something that you can pay outright.  Upon further review of the notice, you find that they do provide a telephone number for contact.  You then wonder, should I go ahead and contact them immediately, even if I plan on talking to an IRS tax attorney regarding this debt?

If you cannot fully pay and/or have some questions about the source and/or amount of the liability asserted in the notice, STOP – don’t dial that IRS contact number.  Although the notice may indicate that “immediate action” is necessary, the truth is, in many circumstances, that any sort of collection action such as garnishment or tax liens may not actually be scheduled to occur for months later – especially if this is your first notice.

If you choose to contact the IRS yourself, without any knowledge or idea of the basis for your debt or what types of payment programs you could potentially qualify for, you could unknowingly provide information to the IRS that could be used against you later in the matter.  Similar to the “Miranda warnings” given in potential criminal cases, “anything you say can be used against you” when you talk to the IRS – the only difference is, the IRS doesn’t have to give you this warning before you speak to them!

Also, be advised that, when you contact the IRS regarding that tax bill, they will push you to begin payment on that balance.  Unless you have a thorough knowledge of your income and allowable living expenses at the time of your call, it is very likely you could be placed in an inappropriate repayment program that could cost you hundreds or even thousands of dollars more than you needed to pay.  You could even be put into a program that creates an unnecessary hardship in your life.

For these reasons, as well as many more, contact with an IRS tax attorney should be your first move in any kind of a tax situation that is going to require a determination of liability, determination of the amount of debt owed, and/or negotiation of a payment plan on the tax balance.  An IRS tax attorney knows the best way to go about determining the exact nature of your tax debt, and whether there are any arguments for a reduction or elimination of that debt.  The IRS tax attorney will further be familiar with the programs available in your living situation, and can expertly guide your case into the optimum program for your needs.  Finally, the IRS tax attorney provides that much-needed “buffer” between you and the IRS, which saves you from the stress and aggravation of direct contact with the aggressive collection efforts of the IRS agents.

At Victory Tax Solutions, we have experienced tax attorneys on staff, ready to assist you with your tax matter.  With your first call, you will receive the kind of attention and professionalism that will give you the assurance and peace of mind that is important when dealing with such a stressful issue.  Please call us right away!

©2014VictoryTaxSolutions.com
Publishing Rights: You may republish this article in your web site, newsletter, or ebook, on the condition that you agree to leave the article, author’s signature, and all links completely intact.