Back Tax Issues Resolved Through the Filing of Delinquent Returns – By the time Mr. P contacted Professional Tax Resolution, he had already had multiple years of delinquent tax returns prepared by another tax settlement firm. However, because the returns were sloppily prepared, they showed him owing a sizable back tax balance. While the returns reported income and other basic information, they failed to take into account any expenses that Mr. P had accumulated over the years. As a result, they showed a tax amount due that was far in excess of the amount he would actually owe after the returns were prepared correctly. Luckily for Mr. P, the firm stopped answering their phones and never filed the tax returns they had prepared. Unable to make contact with them, he began to search the internet for another tax settlement company and found Professional Tax Resolution. Having had such a bad experience the first time, he was hesitant to work with another firm. However, our professionals were able to gain his trust during the initial consultation and he enlisted our services to help him resolve his back tax issues.
The Professional Tax Resolution tax team quickly got to work preparing Mr. P’s delinquent returns. Our professionals did the necessary leg work to collect the expenses he had incurred during the time period under consideration and used them counterbalance the taxes owed on income earned during those years. Entering these legitimate expenses together with the accompanying tax credits and tax deductions brought Mr. P’s back tax balance down to a very reasonable amount. Once all of back tax returns had been signed and filed, the total amount of his outstanding tax liability was approximately $4000, a significant reduction from the amount shown on the incomplete returns prepared by the first tax settlement company. As with all of our clients, Mr. P was thrilled with the outstanding customer service and the excellent results he got from Professional Tax Resolution.
Mr. P’s case is a good example of that fact that the first step in the tax resolution process should always be to verify the accuracy of the tax debt in question. In this case, that verification process involved the preparation and filing of several years of back tax returns. At other times returns may have already been filed and need to be amended due to omissions and inaccuracies. Tax law allows this to occur at any time within two years from the date a tax was paid or within three years from the date a return was filed, whichever is later. No matter what is required, the Professional Tax Resolution Team will always begin the tax resolution process by verifying the accuracy of the outstanding tax liability. Once this is accomplished, they will move forward with other tax settlement options as required and follow the process though to a final solution.