Many taxpayers simply haven’t filed one or more past tax returns. This is one of the first ways to get into compliance with the IRS. The IRS has a master record of all W2′s, 1099′s, and 1098′s (mortgage interest paid) for an individual taxpayer.
Alleviate Tax uses Master File Transcripts to ascertain your standing then and now. Since you didn’t file, the IRS files a ‘Substitute Return’ not having taken into account such things like exemptions or status. We will be able to find out your Adjusted Gross Income, Taxable Income, Tax, Number of Exemptions and/or Filing Status. What Alleviate Tax can now do is re-file your return and achieve a better result based on your situation.
The IRS can sometimes utilize their power to collect up to 70% of your gross income. If you owe back taxes and are currently employed, the IRS will use this method to get their debt. Living off of a fraction of your paycheck can be frustrating humiliating, stressful, and debilitating to say the least. Alleviate Tax can help get you back into compliance with the IRS and get an approved installment plan – getting you back in control.
If the IRS has issued you a noticed that they intend to levy and seize your assets for the purpose of paying your taxes, you have 30 days or less to stop it and pay the total tax debt. Even if you can’t pay the full amount (often people can’t pay the full amount because it is so high); Alleviate Tax may be able to remove the tax levy by negotiating and getting an installment plan approved to get you into compliance with the IRS.
This resolution strategy is one of the hardest to achieve, and only a small percentage of taxpayers even qualify for it. Some taxpayers exhibit incredibly dire circumstances, such that it may be impossible to ever actually pay off all of their tax debt. However, a knowledgeable and qualified tax professional may utilize this option, if you qualify, to significantly reduce your tax debt.
If you haven’t paid your taxes or filed past returns in some time, in addition to your tax debt you may have hefty penalties and interest. In many taxpayer scenarios, these can be quite significant. Alleviate Tax can often get these penalties and accompanying interest removed through the process called penalty abatement.
Most people cannot pay their entire tax obligation in full – life circumstances just don’t let it happen. Moreover, the IRS can be very frustrating to get a hold of on the phone. Many taxpayers can spend 45 minutes or longer just on hold to speak with someone.
Our tax professionals can negotiate a reasonable and agreeable payment plan, based on your circumstances, that will allow you to pay off your tax debt slowly. In many cases, Alleviate Tax can even get much of the interest and penalties removed.
As a consequence of life situations, many taxpayers are often burdened with a tax obligation that actually belongs to a spouse or a former spouse. Not to worry – if this is the case, the professionals at Alleviate Tax can have the entire obligation, including penalties and interest removed completely.
There are many situations where life doesn’t make it easy to pay your tax debts. If you are struggling, and barely making ends meet, Alleviate Tax can help. If your wages only cover your necessary living expenses, and you have no assets worth getting levied, we may be able to put you in a status called, “currently not collectible.” This is not a resolution as much as it is a change in your status. Penalties and interest will continue to accrue, so it is important to stay on top of this. If you are “currently not collectible” for some or all of the 10-year statute of limitations, and this time expires while you are still “currently not collectible,” the tax obligation will become permanently not collectible.