NOTE: MUST be EA Certified,
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Enrolled agent status is the highest credential the IRS awards. Individuals who obtain this elite status must adhere to ethical standards and complete 72 hours of continuing education courses every three years.
Tax & IRS Payment Plans
Currently Not Collectible
We’re a qualified, licensed representative that knows the appropriate procedures to help you with your tax issues. We know the ins and outs of working with taxing authorities. My Company specializes in multiple IRS debt reduction programs to make your tax resolution as smooth as possible.
Doubt as to Collectible Offer In Compromise – This offer will be based on your ability to pay a monthly fee. There will also be concerns in calculation of your liquidity in assets. My Company knows many clients who unfortunately offer the IRS a flat settlement amount without regard to their income,expenses or equity in assets. Contact us to see if you qualify for an offer in compromise.
Effective Tax Administration – This offer is based on hardships. The IRS still requires you fill out a full 433-A, however, we will argue that while the client has the ability to pay in full, doing so would burden the taxpayer. The ETA offers are rare and again circumstantial evidence, health concerns, or the age of the taxpayer are some of the factors to be considered when applying for this offer.
Doubt as to Liability – Have you been assessed by the IRS wrongfully? Has there been an assertion that a liability someone else is responsible for has been given to you? The Doubt as to Liability Offer is based on fact versus financial status. If you feel you were wrongfully asserted, please contact My Company today to see if you qualify.
There are three basic types of IAs, which have varying requirements.
Streamlined installment agreement
The streamlined installment agreement allows a taxpayer with less than $25,000 of debt to pay their tax debt over the course of 72 months.
Staggered installment agreement
The staggered installment agreement has all of the same benefits and requirements as the streamlined installment agreement. The only difference is the added benefit of starting out with a lower monthly payment, which then would step up to a higher payment after a certain amount of time, usually 1 year.
Fresh Start installment agreement
The Fresh Start installment agreement is an IRS initiative launched several years ago in order to help taxpayers whom do not qualify for the normal streamlined IA due to a balance in excess of $25,000.
As your tax resolution service, My Company will look into every reasonable cause you may have fallen behind both personally and through your business. Don’t be fooled by promises to abate interest and penalty. The IRS and State will review serious requests and so will we. We have an array of options concerning how to go about requesting a reduction in penalties.
Joint and several liability means that each taxpayer is legally responsible for the entire liability. Thus, both spouses on a married filing jointly return are generally held responsible for all the taxes due, even if one spouse earned all the income or claimed improper deductions or credits. This is also true even if a divorce decree states that a former spouse will be responsible for any amounts due on previously filed joint returns. In some cases, however, a spouse can get relief from joint and several liability.
Let My Company guide you through your best options for this tax resolution.
As a licensed tax representative, My Company develops a strategy to defend your position. We will assist you in preparing all documents requested by the taxing authority, attend all meetings and handle correspondence on your behalf.
If you cannot pay the tax debt in full before the IRS is scheduled to seize your assets, you may be able to remove the levy anyway with proper tax resolution by setting up an installment plan with the IRS or by making other arrangements. But the best course of action is to work out a mutually agreeable solution with the IRS – and avoid the levy altogether.
If your tax problem is too complex, you don’t have to go it alone. The experienced members of My Company are available to help you deal with the IRS. Find out more…
A lien can be removed with tax resolution on appeal if:
- The tax debt has already been paid in full.
- The lien was filed in error.
- The lien was filed in error and the IRS made a processing error with your return.
- The IRS did not follow proper procedures.
- You were going through bankruptcy when the lien was filed.
- You weren’t given a chance to dispute the amount assessed by the IRS.
- You wish to make spousal defenses by claiming that your spouse should be liable for the lien.
- You want to discuss collection options, like through the Fresh Start Initiative.
- The statute of limitations of 10 years on collecting the tax debt has passed.
- On the notice of the lien, you are given the option to request a Collection Due Process hearing with the Office of Appeals. This request for an appeal must be made within 30 days after the fifth day of the lien being filed, or by the date indicated on the notice.
My Company can deal with the IRS and provide assistance with filing an appeal, or requesting a lien withdrawal.
Trust Fund Recovery involves the collection of employment taxes by the IRS from the owners of a business that’s failed to pay employment taxes. This penalty allows the government to reach parties otherwise shielded from tax liability, such as officers, shareholders, employees or a corporation, partnership or LLC, and in some cases, outside entities.
If penalized, you should begin taking action immediately. Luckily, My Company l is there to help get your business out of this sticky situation. To begin, the most important thing you can do is get familiar with what a Trust Fund Recovery Penalty means, why it happened and how you can get this situation taken care of.