- Innocent Spouse
- Wage Garnishment
- Substitute For Returns
- Tax Levy
- Tax Lien
- Pennies On The Dollar Settlements
By requesting innocent spouse relief, you can be relieved of your responsibility for paying tax, interest, and penalties if your spouse (or former spouse) improperly reported items or omitted items on your tax return. Generally, the tax, interest, and penalties that qualify for relief can only be collected from your spouse (or former spouse). However, you are jointly and individually responsible for any tax, interest, and penalties that do not qualify for relief. The IRS can collect these amounts from either you or your spouse (or former spouse). Innocent spouse relief only applies to individual income or self-employment taxes. The IRS will figure the tax for which you are responsible.
The IRS will consider all of the facts and circumstances of the case in order to determine whether it is unfair to hold you responsible for the understatement.
The notice usually includes an exemption claim form. Please call us to help you carefully fill this form out. What you say to the IRS can have adverse consequences. If you owe a tax debt to the IRS, they can take a big chunk of your wages, and it doesn't have to get a court order first. The amount you get to keep depends on how many dependents you have and your standard deduction amount. Your employer will pay you a fairly low minimum amount each week and give the rest to the IRS.
A wage garnishment is when the IRS requires your employer to withhold a certain amount of your paycheck and send it directly to them until your debt is paid off. The IRS must send a wage levy notice to your employer, who is required to give you a copy. The notice includes an exemption claim form, which you should complete and return.
The IRS has the authority to prepare and file a substitute tax return for a taxpayer who fails to file a timely return. IRS uses all information available in the IRS files to prepare your Substitute For Return. The SFR is usually significantly higher than a properly and timely prepared tax return. This can be a very complicated matter, meet with us for a free consultation to know more about your options.
The IRS can seize your property to satisfy a tax debt. It can garnish wages, take money in your bank or other financial account, seize and sell your vehicle(s), real estate, and other personal property.
Many taxpayers do not pay much attention to the numerous letters from the IRS. However, once a taxpayer receives a letter from the IRS advising that they are planning to levy the taxpayer, this usually gets the taxpayer’s attention. A notice of tax levy is the number one reason taxpayers call my office for help. A levy notice is a serious matter requiring knowledge and experience. Do not delay. Now is the time to be proactive, not reactive.
A tax levy requires immediate attention. Call us for a free consultation at (407) 704-7152.
At the moment a tax debt has been established, the IRS has a lien against you. Tax liens can affect security clearances, transfers of property, and employment in the financial services sector. A notice of filing a lien requires immediate attention.
Although a tax lien is established once a taxpayer owes a tax debt, the IRS has the option to file a public notice of tax lien or not file a public tax lien. Once the tax lien has been publicly filed, you will likely get bombarded with high-pressure letters and high-pressure phone calls offering help. Additionally, you will likely be the target of unscrupulous tax scam artists hoping to take advantage of an unsuspecting taxpayer. Get ahead of this.
Contact us today for a free consultation.
Tax Settlement
A Tax Settlement is known as an Offer in Compromise “OIC”. The biggest benefit of an offer in compromise is it its finality. An OIC is a permanent solution. The other resolutions are not permanent, the IRS can review the other resolutions at any time and make changes based on new information.
The primary factor that the IRS looks at when deciding whether a taxpayer qualifies for a tax settlement is their financial situation. If the taxpayer is suffering from financial hardship then it is likely that the IRS will decide that a tax settlement is an option to move forward with. On the other hand, if the IRS or tax authority should decide that the taxpayer does have the income to pay off the balance over time and just not in its large sum then the tax settlement request could be rejected and the IRS will offer to accept monthly payments of a fixed amount until the entire debt is paid off.
The main two benefits of trying to negotiate a tax settlement are being able to pay less now and avoiding liens/garnishments. The first being the most obvious and beneficial is paying a lot less money than they had originally been required to do all at once. If we assume that the situation of the applicant meets the requirements of the tax authority then they may quickly turn around and decide how much will be paid and when it is due. Both parties mutually agree on this amount and once it has been paid then the account is considered settled-in-full, and the taxpayer does not have to pay any late fees or other penalties that normally would happen. The other benefit of having a tax settlement is that the taxpayer will not have any placement of tax liens on their business or home. They will also not have a bank levy on one or more of their accounts. Finally, they won’t have any sort of wage garnishment placed on their paycheck.
Here at Tax Resolution Attorney Gwin, we can help you with your tax settlement between the IRS or any state taxing authority. We are knowledgeable and experienced. We take that experience and apply it to every client and help make the whole process easier and less stressful. We have the skills, resources, and knowledge to help you with your tax settlement and feel confident during the entire experience. Give us a call today (407) 704-7152.