Payroll Tax Problems Unpaid Payroll Taxes Tax Help IRS Tax Problems Back Taxes Settle Back Tax Debt Reduce IRS Debt Release IRS Lien Stop IRS Levy
You are here: Home / Archives for Installment Agreement

After Newport Beach Tax Return Is Filed In The Filing Cabinet, TRI Abates $188,000 In IRS Penalties And Interest

November 14, 2011 By

The Tax Resolution Institute has experienced so many examples of high income clients with serious IRS income tax problems where the client truly is not at fault. Yes, they did not pay their taxes, but not because they were evading them or did not have the money to cover their tax bill. Instead, they were victims of stupidity and foolishness by people who work for them. A perfect example is when a Newport Beach Entrepreneur finished his taxes, wrote the check, then gave the papers with check attached to his assistant with the express request to file the return. Did the assistant file the taxes on time with the Internal Revenue Service? Nope. Foolishly, he filed them in the office filing cabinet, and no taxes were ever paid.

The Newport Beach Entrepreneur Needed To Stay One Step Ahead!

Tax Crisis of a Newport Beach Entrepreneur

When you are a successful entrepreneur, you always have to everything to stay one step ahead of the game. In today’s challenging Orange County economy, the Newport Beach Entrepreneur had a lot of projects on the table and a lot to do every day to keep the proverbial balls in the air. The tougher the economic climate, the harder the juggling. As a result, when he asked his personal assistant to do something as simple as file his personal income taxes with the IRS, he expected the task to be done. You cannot imagine how surprised he was when he received a notice from the IRS months later. Since he thought the taxes had been filed, he ignored the first notices, even responding that it was a mistake. Finally, when he asked the assistant if the taxes had been filed, he said that they certainly had a showed him the packet in the filing cabinet. Naturally, he was handed his walking papers.

When the Newport Beach Entrepreneur realized that his IRS income tax crisis was out of control, he asked a close business associate for help. The business associate recommended that he go to the Tax Resolution Institute because of their proven history of expertise. Taking a free consultation with Peter Stephan, the Newport Beach Entrepreneur became aware of how extreme his income tax problem had become. Since the interest on delinquent tax debts compound daily and the penalties continue to increase, the Orange County man now owed an additional $188,000 to the IRS. If he was forced to pay the full amount, the future of hus business and the security of his family would be placed in crisis.

Contact TRI today for help!

Contact TRI today for help with the IRS!

Luckily, Peter Stephan and the Tax Resolution Institute had a viable solution to the Newport Beach Entrepreneur’s serious income tax problem. Although it made sense to apply for a Penalty Abatement, the traditional channels would not work because the mistake made by the assistant could not be proved. Nevertheless, by taking a chance and hiring TRI, the Orange County man made the right move. Peter Stephan was able to find a hole in the tax code that allowed for a Penalty Abatement to be filed successfully with the Internal Revenue Service. Illustrating the nature of the problem to the IRS Revenue Officer, Peter Stephan had all the penalties and interest abated in exchange for full payment of the original tax bill.

If you have a serious IRS income tax problem and you need help, contact the Tax Resolution Institute today. If we can help you, we will find a viable option and solution. Whether it is a Penalty Abatement or Offer In Compromise or Installment Agreement, Peter Stephan provides the best in tax resolution services!

Filed Under: California Tax Relief, Delinquent Tax Debts, Income Tax Problems, Tax Relief, Tax Resolution Services Tagged With: , , , , , , ,

After Bankruptcy Lawyer Fails To Discharge IRS Tax Debt, Peter Stephan Rescues Irvine Computer Executive

November 2, 2011 By

When it comes to personal bankruptcy, IRS tax debts can be discharged and removed from your financial record if the proper time requirements are met. If your bankruptcy lawyer fails to report the discharge claim to the IRS, then nothing will happen to the delinquent tax debt. If you fail to go through the proper channels and fill out the paperwork, the IRS will not recognize the bankruptcy and will continue its collection efforts. Such was the dilemma faced by an Irvine Computer Executive who already had lost her high-paying job and gone into home foreclosure on account of the economic downturn. Luckily, with years of experience and expertise helping American taxpayers in trouble, Peter Stephan and the Tax Resolution Institute was able to resolve the problem and wipe away a majority of the delinquent income tax debt.

A Proper Bankruptcy Should Not Lead To More Tax Trouble

A Proper Bankruptcy Should Not Lead To More Tax Trouble

Despite negative perception, the Internal Revenue Service in reality is not a vengeful pirate-like entity looking to ravage innocent taxpayers. What they are is the largest collection agency in the world, and their collection efforts will not stop until all the t’s are crossed and all the i’s are dotted. When the Irvine Computer Executive was forced to declare bankruptcy, her bankruptcy lawyer made some glaring mistakes in the filing process. Although the bankruptcy was accepted, he failed to report the dischargeable nature of the delinquent income tax debt to the Internal Revenue Service. As a result, rather than being wiped away, the $150,000 income tax debt remained on the Orange County woman’s record. You can imagine how disturbing it was when she began receiving notices from the IRS after believing her income tax debt had been wiped clean by the bankruptcy. With her former lawyer unwilling to take action or even return her phone calls, she was caught in a downward spiral that accentuated the horror of losing her job and seeing her family home go into foreclosure.

When the Irvine computer executive came to Peter Stephan and the Tax Resolution Institute with the problem, the first thing Peter did was a tax dischargeability  analysis of the woman’s past income tax debt. Although having knowledge that taxes are dischargeable in bankruptcy, many second-rate bankruptcy attorneys still believe that the IRS will demand to get paid no matter what.  In truth, under specific conditions, personal income taxes are dischargeable. The tax experts at the Tax Resolution Institute know the basic requirements and the nature of the individual tax liability that may be discharged in a Chapter 7 bankruptcy.

The Bankruptcy Code does not specify taxes that are dischargeable, but it does specify the taxes that are excepted from discharge. In simple language, unless secured, income taxes are not excepted from discharge. However, if the requirements are met in full, the process will not fail and the income taxes will be discharged.

Tax Dischargeability Analysis Provided A Solution

Tax Dischargeability Analysis Led To A Solution

After doing his analysis, Peter Stephan realized that $125,000 of the Orange County woman’s $150,000 income tax debt was dischargeable according to the accepted criteria. Since the bankruptcy had already been filed. Peter Stephan went through alternative channels by contacting the bankruptcy unit of the IRS directly. Recognizing the just nature of the claim  that met all of their requirements, the IRS discharged the delinquent taxes and wiped away all penalties.

In conjunction with this filing, Peter Stephan negotiated a very reasonable Installment Agreement for the Irvine Computer Executive that covered the rest of her delinquent tax bill. Incredibly grateful, she was so happy to finally have the chance to make a fresh start. If you have a delinquent income tax problem that needs to be addressed through tax resolution techniques or discharged through personal bankruptcy, please contact Peter Stephan. We can help you overcome this challenging hurdle of tax trouble and make a fresh start.
Filed Under: California Tax Relief, Delinquent Tax Debts, Income Tax Problems, Tax Relief, Tax Resolution Services Tagged With: , , , , , , , ,

How Could This Happen To Me? Peter Stephan On Why The Wealthy Have Serious Tax Problems Today (Part 2)

October 31, 2011 By

Peter Stephan of the Tax Resolution Institute gave an in-depth interview at the beginning of October about the wealthy and their sudden increase in income tax difficulties. In Part 2 of this interview, Mr. Stephan shows how initial financial difficulties spiral out of control. Once the money crunch hits the home, wealthy families tend to make bad choices. After all, if they have a couple of kids in private schools or in college, what comes first: the education of the kids or their IRS income taxes? From the wealthy couple’s perspective, obviously the kids come first, but not according to the Internal Revenue Service.

How Did This Happen To Me?

How Did This Happen To Me?

Peter Stephan points out that such protective perspectives quickly become a recipe for financial disaster. Mr. Stephan repeatedly has seen wealthy couples in Orange County and the San Fernando Valley who were bringing in an average of $35,000 a month in income during the good old days. Suddenly that becomes $3,500 a month, and the family is suddenly no longer sustainable as a unit.

Buried in credit card debt with a second mortgage and with all the value taken out of their equity line, such families are no longer affluent. They find themselves in serious financial trouble, and they find the IRS notices in their mailboxes. When the C-504 notice evolves into a Notice of Intent To Levy from the Internal Revenue Service, action has to be taken before there is no turning back. It’s no use asking how this could possibly happen to you. As Mr. Stephan points out from his years of expertise and experience, tax problems can happen and do happen to everyone across the financial board.

When Finances Collapse, You Ignore Your Tax Bill

When Finances Collapse, You Ignore Your Tax Bill

Peter Stephan understands how hard it is for a successful business owner with serious financial obligations whose business suddenly drops off a cliff and is not coming back to health any time soon. Often there is a trickle down effect because they had family working in the business. Not only can they not sustain themselves, but also the crisis is like a contagious disease that the whole extended family catches. This type of financial disaster is what Peter Stephan refers to as the “Snowball Compound Effect.” What becomes essential is to recognize that the problem is not going to resolve itself and proactive steps must be taken.

When such new clients enter the office for a consultation, Peter Stephan is straightforward and honest with them. Mr. Stephan knows that other people tend to put on a happy face and promise pennies on the dollars. In contrast, Peter Stephan and the Tax Resolution Institute deal with real solutions that will solve a tax problem. Whether it is a bankruptcy where the delinquent income taxes can be discharged along with the credit card debt if the proper amount of time has passed or even Currently Not Collectible status, what is essential is to give the family the time to regroup and put their lives back on track.

Let Us Help You Make A Fresh Start!

Let Us Help You Make A Fresh Start!

Yes, the once wealthy couple might have to move into a smaller rental or send the kids to public school, but this is not the end of the world. What is the end of the world is to ignore an income tax tax problem and a financial crisis until there are no viable options left to take. In a majority of cases, less drastic measures are needed, and an Offer In Compromise or an Installment Agreement can work as a positive resolution.

The goal of Peter Stephan and the Tax Resolution Institute is to provide their clients with the best tax resolutions that work and solve the delinquent tax problem at hand. It is true that serious tax problems happen to wealthy people in this tough economy. If you take action and contact the Peter Stephan and the Tax Resolution Institute, viable tax resolution answers can be found as well.

 

Filed Under: Tax Relief Tagged With: , , , , , , , , ,

Southern California Couple Scammed Could Have Found Tax Relief With The Tax Resolution Institute

September 26, 2011 By

When innocent American citizens are taken advantage of by dishonest tax resolution companies who make false and misleading promises, it angers the tax experts at the Tax Resolution Institute. Tax scams not only hurt the innocent, the resulting tax complaints also darken the reputation of our industry. The mission of the Tax Resolution Institute is to help people with serious IRS and state tax problems obtain a favorable result, leaving them happy instead of desperate.

California Couple With IRS Income Tax Debt Scammed

California Couple With IRS Income Tax Debt Scammed

A perfect example of such a tax scam was recorded in a tax complaint that a Southern California couple recently posted on the Internet. After receiving notices from the IRS demanding payment for an income tax debt of over half a million dollars, the couple hired so-called tax resolution specialists from an advertisement they saw in a reputable media source. Upon contacting the firm, the couple was pressured into paying the firm’s full fee of over $4000 up front. Since they were promised a swift and speedy resolution to their IRS income tax debt for pennies on the dollar, they thought the offer made sense. What they did not realize is that when an offer sounds too good to be true, it usually is a red flag for a tax resolution scam.

After the couple submitted all requested paperwork and paid the fee up front, they were surprised when they did not hear from the scandalous company for several weeks and notices from the IRS continued to arrive in their mailbox, they tried to contact anyone at the company for an explanation. As the couple continued to receive notices and subsequent collection actions from the IRS in regards to their delinquent income tax bill, they were shocked that nobody they originally had worked with at the company would return their phone calls. When they did get in contact with anyone other than a secretary, they were treated rudely and inappropriately. They wrote the company multiple letters, called day in and day out, and did everything they could to get the tax resolution services they had paid for up front. But nothing happened and they realized they were the victims of a tax scam.

Bankruptcy and Tax Dischargeability

Bankruptcy and Tax Dischargeability

Due to the lack of response from the company and continued pressure from the IRS in regards to their income tax debt, the Southern California couple was forced to find new representation. With a bank levy and wage garnishment hanging over their heads, they had no choice but to hire a tax attorney. When the new attorney requested information from the dishonest tax resolution company originally hired, he was told that all of the case file contents were destroyed once the couple hired new representation. In addition, the couple had filed for bankruptcy with the belief that their IRS income tax debts would be discharged. Unfortunately, this was not the case. Their attorney did not tell them that taxes need to age before they can be discharged.

What is so frustrating is that if the Southern California couple had hired the Tax Resolution Institute, the outcome would have been radically different and positive. Once the couple contacted TRI they would have received a comprehensive consultation at no charge. Upon completing the consultation, the couple would have been given a concise estimate of costs. If they chose to proceed, they would have been sent agreement, including a power of attorney that would allow TRI to contact the IRS.  Once they had reviewed and signed this necessary paperwork, they would have made a partial payment of the overall fee and their tax case would have begun.

Once retained, TRI would have reviewed the previous Bankruptcy by completing a Tax Dischargeability Analysis (“TDA”) to determine if the taxes had “aged” sufficiently to be discharged.  If so, the tax attorneys at the Tax Resolution Institute would have made a case on behalf of the couple to the IRS and State. If the tax attorney did not allow the taxes to age sufficiently before “pulling the trigger” on the previous bankruptcy, TRI would proceed with efforts to negotiate on behalf of the client with regards to the collection issues.

The Tax Experts at the Tax Resolution Institute would find a solution to the couple’s delinquent income tax problems. Whether the solution was an Installment Agreement, an Offer in Compromise or Currently Not Collectible Status, the Southern California would have come away satisfied with the outcome. TRI would have remained in regular contact with the couple giving them consistent status updates and answering their questions and concerns as they arose. With an extensive list of satisfied clients and a impeccable reputation of delivering the best in tax resolution services, the Tax Resolution Institute is a light shining in the darkness of tax complaints, tax schemes and tax scams.

Filed Under: California Tax Relief, Delinquent Tax Debts, Income Tax Problems, IRS Tax Levy, Tax Resolution Services Tagged With: , , , , , , , , , ,

Orange County Alert: Serious Consequences For Unpaid Payroll Taxes For Business Owners

September 21, 2011 By

Due to a challenging economy,  number of big and small businesses in Orange County, ranging from Newport Beach to Irvine,are in constant struggle with their payroll tax deposits. Most of them have trouble keeping up with their unpaid IRS payroll taxes and they default on the trust fund. This article should serve as an alert to business owners in Newport Beach, Irvine and across Orange County that not covering your trust fund and failing to pay your payroll taxes can be the death knell for your company.

Payroll Tax Mistakes Are Serious!

Payroll Tax Mistakes Are Serious!

You should never treat payroll tax debt carelessly because it can lead to bank account and wage levies that can destroy your business. It is very dangerous to disregard or delay the resolution of such a tax debt because it could mean the end of your company. Unpaid payroll taxes are considered by the Internal Revenue Service as theft and the accompanying  penalties can include imprisonment. Unpaid IRS payroll taxes if not resolved immediately can lead to the padlocking of a business’ doors without a court order. Aside from that, unpaid IRS taxes will result to equipment seizure and contacting of clients to intercept payments owed. If it does not close your doors, such a tax scandal will destroy your reputation.

Fortunately, there are ways to get out of this financial tax mess. To get IRS tax relief for a payroll tax debt, you should contact a tax professional like the Tax Resolution Institute so action can be immediately taken. TRI can properly negotiate an IRS payment plan or an installment agreement. We can turn your IRS nightmare into a successful example of tax relief.

The IRS has special means of knowing who is responsible for failing to file payroll taxes or pay the Trust Fund. Never forget that the Trust Fund recovery Penalty is called the 100% Penalty for a good reason. The IRS can go after everyone in a business, including the owners, shareholders, officers, accountants and bookkeepers. In such cases, it is very risky to negotiate with the IRS on your own because there are legal and technical hurdles that can seriously hurt your case and your finances.

A qualified tax professional like the tax attorneys and CPAs at The Tax Resolution Institute can help protect and safeguard your future. Our tax professionals can negotiate for an IRS payment plan or Installment Agreement that suits your qualifications and financial condition. If you are experiencing a payroll tax crisis in Orange County  or anywhere else in the United States, contact the Tax Resolution Institute today for help.

Filed Under: California Tax Relief, Payroll Tax Problems, Tax Relief Tagged With: , , , , , ,

Long Beach Attorney Almost Loses His Huntington Beach Home, Paying His Mortgage And Not The IRS

September 15, 2011 By

The recession in California has hit everyone across the board, and wealthy homeowners have found themselves often caught between paying their mortgage or the IRS. When they choose to pay the mortgage and ignore their income tax debts, disaster often results when the IRS catch up with them. A perfect example is a recent TRI client who works as a top attorney in Long Beach. He lives in Huntington Beach with his family in a beautiful, but very expensive beachfront home. And he came close to having his assets seized and having his home placed in real jeopardy.

Your Home Is Your Number One Asset

Your Home Is Your Number One Asset

When work at the Long Beach attorney’s firm slowed down significantly, he suddenly found himself caught in a bind. Unable to cover both his income tax debt and his mortgage payments, he chose to let the income taxes slide in order to protect his family and their home. Unfortunately, his attempt to protect his family backfired when the IRS caught up with him. Faced with a delinquent income tax bill that totaled over half a million dollars, including late fees and penalties, he was caught between a rock and a hard place. Without the money to pay the delinquent income taxes, would his family’s home be seized in Huntington Beach since it was his only asset that could cover the amount that he owed the IRS? Asset seizure is a fear of people with large delinquent income tax bills.

IRS Installment Agreement Makes Sense And Works

IRS Installment Agreement Makes Sense

Luckily, before his assets were seized, his wages garnished or his bank accounts levied, he contacted Peter Stephan and the tax experts at the Tax Resolution Institute. With extensive experience handling Orange County income tax cases, Peter Stephan has worked with the local IRS Revenue Officers. Putting his expertise to work, an Installment Agreement was negotiated for the Long beach Attorney that would protect his family’s home in Huntington Beach. In fact, it wouldn’t even dent his wallet all that much and there would be no asset seizure.

The Long Beach attorney was happily surprised when he learned that the amount owed monthly to the IRS under the terms of the Installment Agreement was $250 a month. Yes, that’s right, two hundred and fifty dollars a month on a half a million-dollar tax bill. If you live in Orange County and you have a serious income tax debt, please contact the Tax Resolution Institute for the best in tax resolution services before it is too late. We can help you today if you call toll free

 

Filed Under: California Tax Relief, Delinquent Tax Debts, Income Tax Problems, Tax Relief, Tax Resolution Services Tagged With: , , , ,

Newport Beach Physicians Find Tax Relief And Begin Healing With An IRS Installment Agreement

August 29, 2011 By
Newport Beach Tax Resolution Services

Best in Newport Beach Tax Resolution Services

As a successful married couple from Newport Beach in Orange County, two physicians not only lived together, but worked together as well. With a thriving family practice, a beautiful home overlooking the sea and two kids in the best private schools, they believed that nothing could go wrong. What did go wrong, however, is they failed to pay their income taxes and the IRS came after them. Owing close to $150,000 in back taxes and penalties and with an IRS Notice of Intent to Levy hanging over their heads, the couple knew they had to take immediate action. On the recommendation of a close friend, they contacted Peter Stephan and the Tax Resolution Institute for the best in tax resolution services.

Since they had just received a Notice of Intent to Levy from the IRS, they had  to act before their joint family and business bank accounts would be levied. The levy takes place 30 days from the date on the Notice of Intent.  The bank holds the funds for 21 days before remitting to the IRS. Meeting with them right away, Peter Stephan devised a tax resolution plan that would stop the levy from ever happening. With the help of the tax attorneys at the Tax Resolution Institute, a viable Installment Agreement was negotiated with the IRS Revenue Officer appointed to the Newport Beach couple’s case. Luckily, Peter Stephan has extensive experience with local Southern California Revenue Officers, and he knows the legal steps to take to get an agreement made.

Doctors Experience Tax Resolution Healing

Doctors Experience Tax Resolution Healing

When the Newport Beach couple learned that the Installment Agreement was for $650 a month, they were thrilled. As successful doctors with a thriving practice, the amount of the monthly payment made perfect sense and did not threaten their standard of living. With the IRS Installment Agreement in place, the healing of their income tax problem could begin, and they could return to their practice without the threat of an IRS levy hanging over their heads.

If you have received a Notice of Intent to Levy from the Internal Revenue Service, the time to act is now. The levy takes place 30 days from the date on the Notice of Intent from the IRS.  Your bank holds the funds for 21 days before remitting to the IRS. Once the IRS has your money, it is extremely hard to get it back even if an Installment Agreement or an Offer in Compromise can be worked out for your delinquent tax debt. Please contact the Tax Resolution today so we can help you with the very best in tax resolution services and effective tax relief.

 

 

Filed Under: California Tax Relief, Delinquent Tax Debts, IRS Tax Levy, Tax Relief, Tax Resolution Services Tagged With: , , , , ,

TRI Negotiates Installment Agreement For Irvine Public School Teacher With The California Franchise Tax Board

August 27, 2011 By
California Franchise Tax Board

California Franchise Tax Board

If you think the Internal Revenue Service is tough when it comes to delinquent income tax bills, you should try dealing with the California Franchise Tax Board and negotiating an Installment Agreement with them. The California FTB is going after delinquent income tax bills with a new ferocity given the lack of money in the state budget and California’s economic struggles. When an Irvine schoolteacher from Orange County found herself in serious tax trouble with the California FTB, she turned to the Tax Resolution Institute for help.

To begin with, let’s be perfectly honest: In this day and age, being a schoolteacher in California public schools is tough enough without being hassled by the Franchise Tax Board. California needs good teachers that will keep the standardized test scores highs and the kids doing well in class. When a wonderful Irvine schoolteacher encountered some serious financial setbacks and got into a tax bind with the California Franchise Tax Board, she found herself in serious trouble.

Irvine School Teacher PTA Appreciation

Irvine School Teacher PTA Appreciation

Since she was a schoolteacher in the excellent California public school system in Irvine, she thought that she should focus on paying her IRS income taxes and that California would wait. After a few years of delinquent tax bills, she realized that she was wrong and needed help in Orange County. As she expressed to TRI, “Please let me know what we should do at this point. I know that the FTB is not very flexible with due dates so it’s a little unnerving.”

When she came to the Tax Resolution Institute, her wages were about to be garnished and her family’s bank accounts levied. Since she had been sitting on the tax debt for several years, it had just grown and grown, increasingly getting worse. You must remember that if you do not take action, delinquent tax bills with either California Franchise Tax Board or the Internal Revenue Service do not simply go away. Instead, they compound interest on a daily basis while accruing serious back tax penalties. It is essential to take action and deal directly with the problem by consulting a respected tax professional like the Tax Resolution Institute.

Focus On Good Teaching, Not Delinquent Taxes

Focus On Good Teaching, Not Delinquent Taxes

Luckily, the tax lawyers at the Tax Resolution Institute were able to negotiate a very positive and workable Installment Agreement with the California Franchise Tax Board for the Irvine schoolteacher. By agreeing to a do a monthly direct deposit to the FTB, the Installment Agreement was negotiated for under $100.00 a month. Penalties were waived, and all the possible negative consequences went away. The response from the Irvine School teacher was nothings less than glowing: “Thanks again and just so you know – - – YOU ROCK!!! I can’t even believe that this has been taken care of so quickly. If only I would have found TRI 3 years ago – it would have saved me a lot of stress, sleepless nights and tears.”

Remember that if you need help with a delinquent tax problem with the Internal Revenue, the California Franchise Tax Board or any other State Taxing Agency, the Tax Resolution Institute is the place to go. Without a single complaint from any of our past clients and tons of positive feedback for past Installment Agreements and other tax resolution services, we provide the answer when you need help with a wage garnishment looming over your head. The Tax Resolution Institute can solve your delinquent tax problem.

Filed Under: California Tax Relief, Tax Relief, wage garnishment Tagged With: , , , , , , ,

With An IRS Bank Levy Looming, Prominent Irvine Attorney Saved When TRI Negotiates Installment Agreement

August 5, 2011 By
Notice of Intent to Levy - 21 Days To Act

IRS Notice of Intent to Levy - 21 Days to Act

Married with two young children, a prominent Irvine Attorney found himself in real trouble when he received a Notice of Intent to Levy by the IRS. With only 21 days to act before his bank accounts would be levied and his wages garnished, the partner at a major Irvine law firm needed to take immediate action. Not only would the IRS actions hurt him financially, his reputation would be damaged when his co-workers and community found out that he owed the IRS over $400,000 in delinquent income taxes.

Although the Irvine Attorney brought in six figures a year and had a partnership in a successful firm, he had been hit hard by the recession. In addition, with a hefty mortgage and two kids in expensive private schools, his monthly nut was huge. With his savings tied up in the stock market, his portfolio would be damaged significantly if he tried to raise the money to pay off the IRS income tax debt. Plus he honestly did not have the assets currently available to pay off the tax debt. Like many wealthy people, the successful attorney lived paycheck to paycheck with a percentage of his working capital reinvested into the law firm. What could he do?

Revealing his problems to a close friend whom he knew had experienced a similar income tax crisis, he learned about the excellent tax resolution services available at the Tax Resolution Institute. The friend comforted him and told him not to worry; Peter Stephan would find a tax relief solution for him that would work. Since TRI has been able to help his friend with an Offer in Compromise when he was in trouble, couldn’t they help him as well?

The Best in Irvine Tax Resolution Services

The Best in Irvine Tax Resolution Services

Coming to the Tax Resolution Institute with just over a week to spare on account of the IRS Notice of Intent to Levy, the Irvine Attorney was amazed when the tax experts went into high gear to handle his case. The Tax Resolution Institute has extensive experience providing the best in tax resolution services to Irvine professionals and companies. Making sure that all of his past income tax returns were in order, they began working with the IRS. With the precision and focus of true tax expertise, Peter Stephan negotiated an Installment Agreement for the Irvine Attorney that literally shocked him.

The IRS income tax debt of over $400,000 would become a reasonable Installment Agreement of $250/month. With his privacy, his economic future and his family’s safety intact, the Irvine lawyer truly was grateful for such an excellent outcome. If you owe more than $20,000 in delinquent income taxes to the IRS or a state-taxing agency, please contact TRI today. We can help you if you call (877) 829-8370.

 

Filed Under: California Tax Relief, Income Tax Problems, Tax Relief, Tax Resolution Services Tagged With: , , , , , ,

Tips to Consider When Hiring a CPA or Tax Attorney

June 16, 2011 By

If you are dealing with tax issues, a qualified tax attorney or Certified Public Accountant (“CPA”) can be of great service. He or she can help you to secure settlement through such programs as an Offer in Compromise, Installment Agreement, Innocent Spouse Relief, Penalty Abatement, or Release of levy.

Though taxpayers are permitted to appear themselves before the IRS or State, many taxpayers who are seeking tax relief find dealing with the IRS or State annoying, prolonged and restrictive. In these tough situations taxpayers often decide to hire free-lance tax specialists or a tax resolution firm.

The Best in Tax Resolution Services

The Tax Resolution Institute: Tax Resolution Services That Work For You!

Prior to hiring a tax attorney or CPA,

Consider the 6 tips listed below:

1.       Realize the risk of handling your IRS issues by yourself

There are many advantages associated with hiring the right tax relief attorney or CPA, but the greatest purpose it serves is peace of mind.  You will find that if you hire the right company, you are not risking your financial as well as personal freedom. People often get nervous when they appear before the IRS.  A qualified tax attorney or CPA can help you greatly, even if you are unable to pay your back taxes or have unfiled delinquent tax returns. He or she will maximize the chance of settling your back taxes and help you to secure a tax relief settlement in which you may only have to pay a small amount of money compared to what you owe.

2.     Don’t be penny wise and pound foolish

Hiring the right CPA or tax attorney may require a substantial investment. The decision may seem difficult deciding whether to pay the required fees.  However, you must realize that appearing before IRS without proper representation will be taxing as well as costly.  You want to ensure you are receiving the best possible outcome that requires the specialized services of a qualified CPA or tax attorney. Keep in mind, Back-tax issues and other IRS problems are difficult for the taxpayer both financially and personally.

3.       Recognize all possible tax resolution options

The CPA or tax attorney you hire should explain should explain the proper procedure and process involved in resolving your tax debt.  This will help set realistic expectations for a solution relating to your specific tax resolution needs.  The expert advice given will help you understand the viable options for your precise IRS problem.

4.     Understand that each tax resolution case is different

You will need personalized attention rather than an all-in-one approach to tax settlement. Only a qualified CPA or tax attorney with the proper experience and knowledge of your case should be dealing with your tax issues.

5.     Hire a firm that offers intelligibility

Tax Resolution Services For You!

The Very Best In Tax Resolution Services For You!

Many taxpayers are unaware that some tax relief firms lower their initial fee only to charge the taxpayer more as the case progresses.  This technique is used by some firms to secure clients that would otherwise decide to do business elsewhere.   In some cases no work is ever performed for the client.  In other cases, these firms begin by charging an up-front amount considered an entry level fee and intentionally omit the fact that some cases will require additional fees and time such as an Offer in Compromise which may take up to 2 years to complete and become more involved than initially indicated.  A large number of Offers in Compromise are rejected, and many of these cases end up having to be appealed.  Additional fees are required to handle the appeal process.  Many of the less-than-reputable firms do not discuss these possibilities with their clients until it is time to collect payment.  It is in the taxpayer’s best interest to choose a firm that gives them a clear overview of what may happen throughout the entire process of dealing with their IRS or State tax problem.

6.     The right CPA or tax attorney will keep you out of trouble with the IRS and State

Hiring the right CPA or tax attorney for tax resolution services will not only assist you in solving your prior and present tax issues but will also help you to secure permanent tax relief going forward.

Doing so will significantly increase your chance of securing an Offer in Compromise, Installment Agreement, penalty abatement, innocent spouse relief, release of levy or other approved solution.  The Tax Resolution Institute has helped numerous taxpayers with matters ranging in level of difficulty throughout the United States including areas such as New York, New Jersey, Connecticut, Los Angeles, Orange County, and San Diego.  The tax resolution process is done so in a manner that is manageable and understandable to the taxpayer.  If you hire the Tax Resolution Institute you will receive the best outcome possible given your situation.  Bear in mind that IRS and State tax issues do not resolve themselves and can take some time. The Tax Resolution Institute will ensure that you maintain your peace of mind throughout the entire process.

Filed Under: Income Tax Problems, Tax Relief, Tax Resolution Services Tagged With: , , , , , , ,
« Older Posts