Tax Problem Resolution
Your Tax Puzzle Resolved in 3 Simple Steps
Step 1
IRS and State Tax Analysis and Evaluation
Just like any other puzzle, the first step toward ultimately solving your tax problem is to lay all of the pieces out on the table. As part of the onboarding process as a client, you will authorize Resolve CPA to obtain your confidential tax records from the IRS and/or state tax authorities such as Virginia, West Virginia, or Kentucky. Using both the information you provide and the information in your tax records, Resolve CPA will analyze your current tax situation and provide you with recommendations on the possible courses of action to resolve your tax problems.
Step 2
Compliance – Filing and Payment
Many of the courses of action that will yield the best results for your case require that you become compliant with and continue to meet your tax filing and current payment obligations. The actions that may be required vary based on the specifics of each case. Resolve CPA is ready to guide and assist you every step of the way as you become and remain compliant with all of your tax filing and payment obligations.
Unfiled Returns
Resolve CPA is ready to both (1) identify any outstanding obligations that you may have to file tax returns, and (2) prepare and file any tax returns required to pursue the desired outcome for your case. Whether you’re a wage earner, self-employed, a small or large business, or a non-profit organization, Resolve CPA has you covered.
Estimated Taxes
Most people are familiar with April 15 – the deadline to pay your individual income tax due to the IRS for the previous year. But did you know that you may also be required to make estimated tax payments at least quarterly throughout the year? Getting a handle on your current taxes due is of great importance if you are serious about making your past due taxes just that – a thing of the past. After all, as the old saying goes, “an ounce of prevention is worth a pound of cure.”
Step 3
Move Forward with Resolution
Installment Agreement
Also known as payment plans, installment agreements allow you to make monthly payments toward the amount that you owe. Installment agreements come in all shapes and sizes; the IRS, Virginia, West Virginia, Kentucky, and other states each have their own policies and requirements to qualify. Resolve CPA will conduct a thorough analysis of several factors to determine whether an installment agreement (by itself or in combination with other resolution options) will provide the best possible outcome to resolve your case.
Currently Not Collectible
Even with all of the actions the IRS and state tax authorities can take to collect money they are owed, it’s important to note that they are REQUIRED TO IMMEDIATELY SUSPEND ALL COLLECTION ACTIVITY when certain circumstances exist. Resolve CPA will thoroughly evaluate your case and review your current financial situation to identify whether your case fits these circumstances, and if so act swiftly to secure the relief that you are entitled to.
Offer in Compromise
You’ve heard about it on TV and the radio – your chance to settle your debt with the IRS or state for less than what you owe. An Offer in Compromise can not only dramatically reduce your liability, but it may also provide final closure to your tax situation more quickly than other alternatives. The IRS and state tax authorities scrutinize each offer received, which places a premium on preparation and thorough evaluation of your situation prior to submittal. Resolve CPA can not only identify when you are a good candidate for an Offer in Compromise, but also when an offer is unlikely to be accepted and therefore not a cost-effective option to resolve your tax situation.
Potential for Discharge
How does filing bankruptcy affect the tax debt that you owe? The rules surrounding the eligibility for discharge of tax debts in bankruptcy are complicated, and the relevant information needed for a bankruptcy attorney to properly advise you may be complicated and time consuming to obtain. Resolve CPA actively fosters relationships with bankruptcy attorneys throughout Virginia, West Virginia, and Kentucky and can refer you to an attorney who can help you decide if bankruptcy is a good fit for your situation. From pre-filing to post-discharge and beyond, Resolve CPA is ready to work closely with your bankruptcy attorney while guiding and assisting you with your tax problems.
Penalty Abatement
If you’ve received a bill for past due taxes, you’ve probably noticed that the total balance owed includes penalty and interest in addition to amount of tax due. End of Story? Not necessarily. Under certain circumstances for qualified taxpayers, the IRS, Virginia, West Virginia, Kentucky, and other states accept requests to waive penalties. While handling your case, Resolve CPA will analyze and identify any opportunities that may exist to waive penalties that have been assessed, which could result in BIG savings for you.
Audits/Examinations
It’s on the short list of things that people dread and fear the most – an audit (examination) by the IRS or State. Resolve CPA is prepared to represent you throughout the audit process, taking over all communication with your auditor and thoroughly analyzing and defending your rights and interests to achieve the best result possible for your audit.
Resolve CPA is the missing piece in your tax jigsaw