Tax Resolution Services
When dealing with serious tax-related issues, outsourcing to a company specializing in tax resolution services is strongly recommended. The team at OBS is highly trained and experienced in all areas of tax legislation. We can analyze the entire situation and create a game plan to help you get the most out of your experience with the IRS or state tax office.
Just the thought of the IRS scares most people to the core, and it can be quite stressful if you find yourself in a situation where you have tax problems with the IRS. While representation is not a requirement when dealing with the IRS, having someone who specializes in tax law can be among the best possible solutions. It’s also much better to have someone with your best interests in mind to negotiate the deal on your behalf.
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What is Tax Resolution?
Tax resolution is the process of working with the IRS and tax professionals to find a solution to your tax problems. The tax administrator may have problems with your tax return or tax situation for several reasons. For example, if you have a complicated tax return, the IRS may audit you to make sure you’re reporting the correct amount of income and claiming legal deductions. In some cases, the IRS may think you’ve underreported your income, and you may want to take a closer look at your tax situation.
IRS Tax Resolution Services We Offer
Offer in Compromise
This is a partial payment of your total tax liability. To receive this tax credit, the IRS must not collect the total amount of tax for an exceptional reason. Questionable collectability and effective tax management are the most common approaches based on income, expenses, and assets.
Currently Non-Collectible Status:
In some cases, the IRS will agree to waive the tax collection if you cannot pay the tax. Although this will stop collection activity, it is a temporary stop. The Tax Office checks the ability to pay again to see if the taxpayer’s financial situation has improved.
IRS Collections
The IRS has far greater powers than any other bill collector. The IRS has the power to put in place a wage garnishment, bank accounts, and other property.
Bankruptcy
Under some circumstances, you may have your tax liability discharged in bankruptcy or paid through a bankruptcy plan.
Innocent Spouse Relief
Many married taxpayers file a joint tax return because of certain benefits this filing status provides. In a joint tax return, both taxpayers are jointly and solely liable to pay the taxes and tax increases, interest, or penalties resulting from the joint tax return, even if they have subsequently separated. Joint liability means that each taxpayer is legally responsible for the entire liability. Thus, both spouses are usually responsible for all taxes owed, even if one spouse earned all of the income or claimed improper deductions or credits. This applies even if the divorce decree states that the ex-spouse is responsible for all sums owed.
Statute of Limitations Review
A ten-year statute of limitations runs from the IRS assessment date. The statutory period begins only when the taxpayer has filed a tax return. A substitute return (SFR) prepared by the IRS is not considered a filed return. If the statutory clock has started and the IRS has yet to collect a payment within ten years (assuming the statutory period is not interrupted), the tax is no longer due. The IRS must release the lien at the taxpayer’s expense. A careful review and analysis of your situation and IRS records will allow you to determine if the statute has expired.
Injured Spouse
If you file a joint return and all or part of your refund is applied against your spouse’s past-due federal tax, state income tax, child or spousal support, or federal nontax debt, such as a student loan, you may be entitled to injured spouse relief.
Penalty Abatement
A reasonable cause statement is made to reduce or eliminate tax penalties and interest on your underlying liability.
Installment Agreement
A payment plan with the IRS to make regular and monthly payments to pay off the taxes owed.
IRS Tax Appeal
If you disagree with the decision by the IRS, you may request an appeal of your case.
How Does Tax Resolution Help You?
While you have the option of resolving tax issues with the IRS yourself, it is often beneficial to work with tax professionals to help you work with the IRS and resolve your issues.
As a taxpayer, you have certain rights described in the IRS Taxpayer Bill of Rights.
- Be informed
- Receive quality service
- Pay no more than you owe
- Challenge the IRS and be heard
- Finality
- Privacy
- Appeal the decision of the IRS
- Retain representation
- Confidentiality
- A tax system that is fair
Why Outsource Tax Resolution Services to Us?
- Qualified Team
- Tailored Plans
- Security Guaranteed
- Saving Extra Charges
- Dedicated Supervisor
- Easy Enrollment Process
- No Setup Cost
- Adaptive Work Hours
FAQ's
How long does it take to resolve tax problems and get tax relief?
The IRS recognizes that many taxpayers are struggling to pay their bills, so they made common-sense changes to the OIC program that better reflect real-world situations. This extension of focuses on the financial analysis used to determine which taxpayers are eligible for OIC. These changes will allow some to resolve their tax problems in just two years, compared to four or five years.
What documentation is needed in order to resolve my tax issues?
- Your ten-digit Unique Taxpayer Reference (UTR)
- Your National Insurance number
- Details of your untaxed income from the tax year, including income from self-employment, dividends, and interest on shares
- Records of any expenses relating to self-employment
- Any contributions to charity or pensions that might be eligible for tax relief
- P60 or other records showing how much income you received that you’ve already paid tax on.
What if I cannot produce the necessary information for a missing tax return?
Most tax resolution companies should be able to get a hold of any tax documents that you are not able to get a hold of on your own.
What is the cost of tax resolution services?
Although not all tax solution companies are the same, it is common to charge a certain flat fee for the services that are stated upfront with no hidden surprises.
Will you be available to represent me with the IRS during an audit?
All licensed tax resolution professionals can represent you in an IRS audit and help you find the most cost-effective solution to your tax problems.