10 Frequently Asked Questions
IRS Tax Relief
A lien is a public record on your property that says you owe the IRS money. It tells creditors that the IRS has a claim on all your property, including property you buy after the lien is filed. If a lien is attached to your property, you cannot sell that property without a clear title.
If you pay your debt to the IRS, the lien will be released within 30 days. If you never pay your debt, the lien will usually be released automatically 10 years after it is issued.
Filing your return is the first step in the settlement process. Taxpayers must be in compliance in order to negotiate with the IRS, but after your returns are processed, I will evaluate all of the possible solutions for your unique case so you can make a fresh start!
The easiest way to avoid an audit is to completely and accurately fill out your tax return. This includes double checking your math and making sure you used all the correct forms. Because the IRS flags items that look suspicious, you may want to consider attaching an explanation if you think a deduction or credit you are claiming looks too large.
You do not have to be liable for those taxes. The IRS offers Innocent Spouse relief to protect you.
Getting an Offer in Compromise accepted is the closest one can get to have their tax debt forgiven. Although it is not easily obtained by anyone, taxpayers who get an Offer approved can settle their debts for a significantly lower amount. The settlement amount is based on your income, expenses, and available assets.
I use an interactive analytics software that uses your responses to recommend the best course of actions to review. We will go over the recommendations together and discuss options, outcomes, and other measures to qualify you for additional relief
The IRS uses formulas rather than negotiations to reach payment plan or Offer In Compromise figures. Negotiations with the IRS only tend to take place during audits, tax court, or Offer In Compromise appeals. Everything else is done by way of formula.
An IRS tax levy takes immediate actions against you. It requires the person receiving the levy to turn over all funds due you the IRS. This could be the money in your bank account, the paycheck from your employer, or your accounts receivable if you are in business. A tax lien is used as security for tax debt. It says that the IRS has the right to seize the property before other creditors. If the IRS has a levy against your property, they can actually take your property to satisfy that debt.