Hiring a qualified tax professional can seem like a bit of an investment. However by representing yourself before the IRS or State Tax Board small mistakes or assumptions can cost you even more time and money. This case study is a real world example.
tax resolution
Consider Carrying Back a Net Operating Loss as a Tax Settlement Tool
In this economy many taxpayers have allowable deductions that exceed gross income. The Net Operating Loss Carry Back provision can be used to offset taxes paid in or even owed for prior years. Read more below about this excellent tax settlement option.
2010 Electric Car Credit and Other Tax Incentives
Tax Credits can allure taxpayers to rush applications or file even when unsure about qualifing standards. Learn why tax liabilities can appear years after filing incorrectly for incentives such as the first time home buyer or electric vehicle tax credits.
FAQ about An Offer In Compromise
The Offer in Compromise tax settlement option is heavily advertised and many prospective clients come to us with questions about how they work. This step by step FAQ is a great guide to understanding what is involved in filing an offer with the IRS.
IRS Warning About Companies That Promise To Reduce Tax Debt – For a Large Fee
The IRS warns consumers that they are “increasingly concerned about unscrupulous promoters charging excessive fees to taxpayers who have no chance of meeting the OIC program’s requirements.” They urge taxpayers not to be fooled by high priced promises.
Another Tax Settlement Option – A Partial Payment Installment Agreement
Due to the current economic climate, more taxpayers are finding themselves with significant outstanding tax debt. Many taxpayers owe both the Internal Revenue Service and their state (or states) for multiple years. Some taxpayers are simply overwhelmed by the numerous IRS Notices and Letters from the IRS that they receive. In actuality, there are numerous… Continue reading →
