Tax Relief Programs

by Louis Meeks on January 3, 2015 in Blog

Tax Relief Programs

Victory Tax Solutions, LLC

“America’s Trusted Tax Team”

Searching for the right tax relief program can be tricky, with the many avenues and guidelines that the IRS uses in establishing who qualifies for which tax relief programs.   When exploring your options, it is important to understand that the IRS provides standard deductions which determine what the IRS will allow as an expense for the household, against any income. Many tax relief programs are based upon the tax payers ability to pay.  So, how does the IRS determine whether they believe you have “the ability to pay”?

The answer lies in what the IRS refers to as “standard deductions”.  These “standard deductions” are used to determine how much “disposable income” you have to pay them back for back taxes.

As an example, the IRS might give you a “standard deduction” expense for your mortgage of $1,000 for your specific city and state.  Let’s assume you actually have a mortgage of $1,500. When looking at this example, the question arises as to whether the IRS allows you to deduct the  $500 of actual expenses from the mortgage when determining how much you can afford to pay them back.  The bad news is the IRS does not care, and does not give your credit for your real mortgage cost. In our example, your mortgage expense that exceeds the “standard deduction” ($500) is not allowed.  The IRS treats that extra $500 mortgage expense as if it does not exist.  This is the harsh reality that the IRS places on all of us taxpayers with back tax problems in search of a tax relief program.

As you can extrapolate from that example, the IRS is acting in their best interest, and not yours. As stated earlier, most tax relief programs are determined by the IRS rules on your ability to pay.

However, if you find a trustworthy tax resolution firm that understands the IRS tax code as well or better than most IRS agents, you will be in a much better position to get results that favor you.

At Victory Tax Solutions, we have many experts in this field are available on a daily basis here at Victory Tax Solutions. Our team, consisting of CPAs and tax attorneys are exactly that, experts. Let the professionals handle your tax issue. They know how to use the IRS codes against the IRS directly and can often resolve your tax issue in much more favorable terms than you can do yourself.

Some tax reliefs programs that are available for taxpayers are as follows:

1. Several types of installment agreements
2. Offer in Compromise
3. Currently Not Collectible status
4. Installment Agreements

The Tax Relief Programs above are just a few of the programs you may consider.  However….A friendly warning to all taxpayers reading this blog, DO YOUR RESEARCH!!!

Unfortunately, our industry is littered with tax resolution companies whose employees say all the right things on the phone to reel you in and get your money.  However, they do not deliver great results.  At Victory Tax Solutions, we have the most ethical team in the industry.  We have an “A” rating with the Better Business Bureau.  And, most importantly for you, we have the most client friendly full money back guarantee in the industry!

The Victory Tax Solutions team is led by Senior Tax Attorneys, CPA’s and paralegals.  We have a great combination of law school education, knowledge of the tax laws, experience working with the IRS and always working to get the best possible outcome for our clients.

If you are interested in learning more about all the different Tax Relief Programs you may be eligible for, please call Victory Tax Solutions today for a free consultation with one of our Senior Account Executives.  We would love to help you.  Our toll free number is 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.

Offer In Compromise

by Louis Meeks on January 3, 2015 in Blog

OFFER IN COMPROMISE

Victory Tax Solutions, LLC

“America’s Trusted Tax Team”

An offer in compromise is a very advantageous hardship program that the IRS offers to certain taxpayers.  The taxpayer offers a fraction of what they owe to the IRS, typically 10-50% of the liability.

When individuals attempt an Offer In Compromise by themselves, the success rate averages 20%.

At Victory Tax Solutions, when our clients follow our recommendations and we prepare the offer, our clients’ acceptance rate exceeds 90%!

Our success rate is largely based on our screening process.  Any number of tax resolution companies will tell you they will “submit” an offer.  Whether that offer is likely to be accepted is a totally different situation.  The IRS has standards that must be met in order for the taxpayer to be considered a viable candidate.  Our tax attorneys are well versed and very experienced on the nuances the IRS uses to determine viability of an offer.  Nothing is more frustrating than making an offer, waiting six to twelve months, then having it rejected.

The IRS time frame for acceptance or rejection is approximately 6-12 months.  The good news is… While the offer is being considered, all collection activity is put on pause. The even better news is…. No wage garnishments or tax levies.

The following are a few of the criteria and success factors the IRS uses in analyzing Offer in Compromise applications:

• One determining factor for success is tax compliance.  This means the taxpayer must be current on their tax filings, even if they owe back taxes.  The older the tax liability, the more likely it is to be considered.
• The second factor is age of the tax payer.  The IRS wants to see the likelihood of the entire debt being paid within a certain amount of time. So in reality, the older you are, the better.
• The third factor is related to the financial situation of the taxpayer.  This includes assets, liabilities, income and expenses.  A full disclosure of your finances must be included.  The IRS does a search for your bank accounts and assets, so being honest is crucial.  They will find out if you are trying to hide money and assets.
• The fourth factor is education, training, and occupation.
• Lastly, the IRS is extremely particular about how the offer is presented.  It must be very well organized and in a certain format.

The Victory Tax Solutions team is led by Senior Tax Attorneys, CPA’s and paralegals.  We have a great combination of law school education, knowledge of the tax laws, experience working with the IRS and always working to get the best possible outcome for our clients.

If you are interested in learning more about Offer in Compromise or any other IRS or state resolution, please call Victory Tax Solutions today for a free consultation with one of our Senior Account Executives.  We would love to help you.  Our toll free number is 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.

Tax Relief Ann Arbor Michigan

by Louis Meeks on January 3, 2015 in Blog

Tax Relief Ann Arbor

Victory Tax Solutions, LLC

“America’s Trusted Tax Team”

If you are looking for tax relief in Ann Arbor Michigan, look no further than Victory Tax Solutions, LLC.  We are located on the south side of Ann Arbor near Briarwood Mall.

When determining which tax resolution firm to hire, the following considerations are very important to consider:

1. Does the firm have full time tax attorneys and CPA’s on staff?
2. Does the firm specialize in tax relief, thus doing this work all day, every day?
3. Does the firm have an “A” rating with the IRS.
4. Does the firm have only a few complaints with the BBB or other online sites?
5. Does the firm have a 100% money back guarantee?
6. Does the firm have at least a hundred testimonials to be found on the internet?

As you can see, there is an awful lot of due diligence to be done and facts to learn before placing your trust and putting your dollars to work to solve this important tax relief problem.

At Victory Tax Solutions, we serve clients all over America and have a specialization in providing tax relief for military members all over the globe!

Although it is not mission critical to use a local firm when trying to solve back tax problems, if you have a firm that meets all the criteria listed above, and is within driving distance, then you have hit the jackpot!

At Victory Tax Solutions, we love to have visitors come to our offices in Ann Arbor, Michigan.

We have clients drive from all Lansing, Kalamazoo, all of the Detroit suburbs, Grand Rapids, etc. to meet with us.  If you are looking for tax relief in Ann Arbor, come on in, we will buy you a cup of coffee or take you to lunch, your choice!

The Victory Tax Solutions team is led by Senior Tax Attorneys, CPA’s and paralegals.  We have a great combination of law school education, knowledge of the tax laws, experience working with the IRS and always working to get the best possible outcome for our clients.

If you are interested in learning more about all the different Tax Relief Programs you may be eligible for, please call Victory Tax Solutions today for a free consultation with one of our Senior Account Executives.  We would love to help you.  Our toll free number is 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.

Federal Tax Relief

by Louis Meeks on January 3, 2015 in Blog

Federal Tax Relief

Victory Tax Solutions, LLC

“America’s Trusted Tax Team”

What is Federal Tax Relief?  What can the IRS do to take money from you?  What can you do to get the federal tax relief you need to move on with your life?

If you owe money to the federal government for taxes that you are unable to pay, then the Internal Revenue Service (IRS) will be initiating collection activities to recover what they claim you owe.  It is not a question of if, it is a question of when.  Also, what exactly can the IRS do to get the money?

What Can the IRS do to collect money from you?

The IRS is the largest collection agency in the world.  They can and will use very intimidating tactics to collect from you and everyone else they claim owes them money.

The IRS uses a variety of legal weapons to collect from you.  The following are a few of them:

1. Wage Garnishment: the IRS can contact your employer and demand your employer to take a portion of your paycheck, up to and including taking your entire paycheck.  These funds will be applied towards your tax liability.
2. Social Security checks, pension checks, etc. are “fair game” for the IRS collection machine to attack!
3. Bank Levies: the IRS can contact your financial institution and take money directly out of your savings/checking account and apply it towards what they say you owe. They can take up to 100% of your tax liability.
4. Tax Liens: the IRS can file liens against your credit.  This will cause your credit score to go down, thus making it more difficult for you to buy anything on credit.
5. Substitute Federal Returns (SFR): The IRS can file a Substitute Federal Return on your behalf.  This may result in a larger tax liability than you actually owe because the IRS will not give you credit for any IRS tax deductions or exemptions you may be eligible for.

These are a few of the examples of the collection activities the IRS can legally take to recover the taxes that they claim you owe.

How can you get federal tax relief?

Your greatest chance at attaining your goal of federal tax relief is to consider hiring a highly experienced firm to help you fight the world’s largest collection agency.

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

The following are some of the options the Victory team will consider for you:

• 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. 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.

Please call Victory Tax Solutions today for a free consultation with one of their highly respected 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.

Tax Relief Services

by Louis Meeks on December 20, 2014 in Blog

Tax Relief Services

Victory Tax Solutions “America’s Trusted Tax Team”

What are tax relief services?

Tax relief services can be defined as, professional help with either state or federal tax issues.  Millions of American’s struggle each year with back tax issues. These issues may stem from, under withholding, failure to file tax returns, earning money as an independent contractor and not sending in enough money for taxes, etc.  To get help with tax relief generally requires the help from highly skilled professionals that provide tax relief services.  These professionals can be tax attorneys, certified public accountants, and enrolled agents.

Unfortunately, Americans do not always know when they may need tax relief services from a professional.  Additionally, they may not know who they can trust to get the job done, done right, and at a fair price.

Haven’t you have heard all the advertisements about settling your debt for “pennies on the dollar?”  These are ads used by unscrupulous companies to prey on the weak and uneducated.  What is the most important piece of advice we can offer for you when considering to respond to one of these advertisement?  “BUYER BEWARE” .

Why should you consider investing your hard earned money with a tax professional to get reliable tax relief services?  The answer is simple:  The tax code has become so complicated that the average American can’t realistically become familiar with the IRS, state specific tax codes.  This lack of knowledge can end up costing you thousands of dollars.  On the other hand, professionals skilled in dealing with back taxes and tax related issues undergo significant education and training to serve their clients.   Tax Attorneys possess the deepest knowledge of tax laws and the IRS tax code.  And, they have a long and strong history of driving the greatest results.  Wouldn’t you rather have someone with these extensive credentials in your corner?

So the million dollar question is “how do you locate a firm that can provide outstanding tax relief services”?  In two words, “due diligence”.  First you need to understand the reputation of the company.  What kind of rating do they have with the Better Business Bureau?  Then you need to see what their clients past and present are saying about their services.  The old saying is “you can get a good look at a T-bone steak by sticking your head up a bull’s behind but wouldn’t you rather take the butcher’s word for it”?  In the case of tax relief services, “taking the butcher’s word for it” equates to “taking the clients word for it” At Victory Tax Solutions, we have more testimonials than any other company in the tax resolution industry.   And with a 99% client satisfaction rating, we have proudly earned the reputation as “Americas Trusted Tax Team

So many companies say one thing and do nothing…

Who can be trusted?

Victory Tax Solutions specializes in providing tax relief services for all walks of life and economic status.   It may be an owner-operator truck driver, doctor or even a stay at home mom who needs assistance and results with a back tax issue.   Victory serves all clients with the same tenacity and desire to better their situation.   Our “A” rating with the Better Business Bureau and hundreds of verified client testimonials makes a strong statement of who we are and what you can expect.  Additionally, Victory Tax Solutions stands behind each client with 100% money back guarantee.  If we cannot put you in a better situation that you are currently, we will refund your money “no questions asked”.

If you have a back tax problem, we invite you to consider Victory Tax Solutions to deliver Tax Relief Services.

Call us today!  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.