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Overview

The professionals at Ideal Tax Solution provide solutions and methods that provide tax resolution for even the most unique tax problems. Our experienced staff of tax analysts will guide you through a brief and free consultation to evaluate your tax issue and identify areas for relief. Using specialized training and proprietary computer software, he or she will give you an accurate analysis of your tax debt problem and suggest the best course of action and provide you with realistic expectations of results. Don’t wait to exercise your right to professional tax representation and get the help you deserve now. Call us today to get your fast & free expert evaluation on how to turn your tax problems around.

Tax Audits

This is when the IRS believes that a taxpayer is not giving accurate information regarding his or her tax return or possibly omitting documentation. An IRS audit is usually with a Tax Examiner who will request documentation and require you provide in-depth information about deductions. IRS audits should be taken seriously and can result in years of tax filing review and exposure to larger fines and penalties. You should NOT attempt to go this along and need to be represented by an experienced Professional Tax Attorney. If you are facing a tax audit, protect yourself by allowing our expert tax analysts to review your situation and provide transparent and straight-forward answers to your audit questions.

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Wage Garnishments

An IRS Wage Garnishment can be a financial disaster for a taxpayer living check to check or struggling to get by. Once a garnishment is filed with your employer they are legally required to collect as much as 75% of your income until the debt is fully paid. The IRS can demand that a tax debtor’s employer MUST send a large portion of the tax debtor’s wages directly to the IRS. U.S. Code Section 6334 does allow for an exempt amount that must remain outside of the levy. That amount is relatively small, and sometimes could leave the taxpayer with hardly enough to satisfy his or her monthly living expenses. Our Tax Resolution Specialists can file a Collection Appeal on your behalf to get the IRS to stop levying your paycheck. Call and speak with one of our experts to ensure you are protected against this financial threat.

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Bank Levy

The IRS is the most ruthless and relentless debt collector in the world. Under United States Federal law, is an administrative action by the Internal Revenue Service (IRS) under statutory authority, without going to court, to seize property to satisfy a tax debt. The levy “includes the power of distraint and seizure by any and all means available. The general rule is that no court permission is required for the IRS to execute a U.S. Code Section 6331 levy. For taxpayers in serious debt to the IRS, the most feared weapon in the IRS arsenal is the tax levy. Using the powers granted to the IRS in the U.S. Code, the IRS can levy upon wages, bank accounts, social security payments, accounts receivables, insurance proceeds, real property, and in some cases, a personal residence. Under Title 26 of U.S. Code section 6331, the Internal Revenue Service can “levy upon all property and rights to property” of a taxpayer who owes Federal tax. The IRS can levy upon assets that are in the possession of the taxpayer, called a seizure, or it can levy upon assets in the possession of a third party, a bank, a brokerage house or anywhere else those assets are held. If you are being threatened with a levy or wage garnishment or any other type of seizure, don’t delay in getting help. Call us and allow us to evaluate your situation and stop the IRS collection.

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Penalty Abatement

The IRS can assess literally hundreds of different types of penalties against taxpayers. A penalty or tax abatement can be defined as forgiveness of the penalties associated with tax debt that has been added on by the IRS over the course of the debt. In these cases, the IRS can agree to fully or partially remove or forgive penalties that were assessed, and may even go as far as to revoke 100% of the extra charges altogether.Therefore, with the help of an experienced tax negotiator, you can request a penalty abatement for your penalties, which can include property tax abatement and state tax abatement. You may have the ability to be forgiven all or part of your tax penalties. This can significantly lessen your financial burden.

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Asset Protection

Whether the IRS is just threatening to issue a levy or tax lien or they are actually attempting to collect a tax debt, you need to be proactive to ensure your assets are safe from a tax lien or tax levy. ITS asset protection strategies consist of several methods designed to protect assets from liabilities arising out of a tax audit or IRS lien. It should not be confused with limiting liability, which concerns the ability to stop or constrain liability to the asset or activity from which it arises. Assets that are shielded by law from creditors are few. Common examples include equity in your home, certain retirement plans, and interests in LLCs and limited partnerships (and even these are not always unreachable). Assets that are generally unavailable are those one does not hold legally. In many cases it is possible to vest legal title to personal assets in a trust, an agent or a nominee, while retaining all the control of the assets. The goal of asset protection is similar to bankruptcy, and the two practice areas go hand-in-hand. When a debtor has very few or no assets, the bankruptcy route is preferable. When the debtor has significant assets, asset protection may be the right solution. It’s important to speak with one of our tax analysts and allow us to evaluate your assets and liabilities in order to prescribe the right path to curb any liens against your assets.

Installment Agreements & IRS Payment Plans

Whether you call it an installment agreement, payment agreement, payment option or a payment plan, the idea is the same — you make payments on the tax you owe over a period of time. That sounds like a good deal, but you can save money by paying the full amount you owe as quickly as possible to minimize the interest and penalties you’ll be charged. For those who cannot resolve their tax debt immediately, however, an installment agreement can be a reasonable payment option. Installment agreements allow for the full payment of the tax debt in smaller, more manageable amounts.

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Seizure

IRS seizures are one method used to collect large amounts of back taxes that an individual has owed for many years. Quite often the amount of the tax debt is much smaller than the total amount owed because of penalties and interest that are applied to any unpaid balances each year. These compound each year, increasing your total tax liability substantially. The IRS can seize almost all of your possessions without having to take you to court or get a judgment against you. It is actually a very powerful tool in collecting taxes, and one that the majority of taxpayers fear most. We know how to stop the seizure, resolve your outstanding collection, and get you back on your feet.

Offer in Compromise

If you can’t afford to pay your entire tax debt, an Offer in Compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than the full amount owed. This program, in some cases, has provided tax debtors with up to a 90% savings on their tax liability as a full and complete payment. ITS’s tax consultants will work with you to negotiate a one-time settlement with the IRS which could save you hundreds or thousands of dollars in resolving your tax debt.

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Relief for Innocent Spouse

If you find yourself saddled with a tax debt due the actions of a spouse or former spouse, an innocent Spouse Agreement is something that can be arranged when seeking assistance with your tax debt. While a resolution is being made for the tax debtor, the spouse, who was uninvolved and had nothing to do with the debt, can seek and obtain relief or a pardon. This saves them from having their wages garnished or accounts levied, or risking the seizure of personal assets. If your spouse accrued a debt prior to your marriage, but you are now legally married, you will not be safe without this option. Marital status is seen as two responsible parties in IRS’ eyes. Call us to review your situation and let our experts assist you with this tax relief strategy.

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Currently Non Collectible Status

Currently Not Collectible Tax Program (“CNC”) is a program which essentially provides the IRS with substantial proof that the debt is unlikely to be or cannot be paid in either the short or long term. CNC status can be very beneficial to a tax debtor that faces genuine financial hardships, and can typically stay in place until the Statute of Limitations has passed. Once this occurs, the IRS is forced to permanently write off the debt and cannot collect. This program may be available for a limited time only and you should act quickly. We can assist taxpayers with applying for CNC status and will work with you to protect your income and assets from IRS collection.

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Tax Lien Subordination

This program is constructed for those who are looking to buy, sell, or refinance property. A Lien Subordination allows us to temporarily lift or move into second position the lien on real property, allowing the transaction to be made. Liens cannot be officially removed until the debt is settled. When facing this issue, call us and let us successfully negotiate this option with the IRS on your behalf.

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Trust Fund Penalty Defense

When a corporation has unpaid Form 941 liability (Employer’s Quarterly Federal Tax Return), the IRS may propose to assert the Trust Fund Recovery Penalty (“TFRP”) against the owners, officers, directors, shareholders or employee of a company. By taking this action, the IRS asserts the corporation’s liability against the people that run the business and will collect this liability from their personal assets. IRS collection efforts can include levies or garnishments on wages, levies on bank accounts, and seizure of assets. The corporation provides no protection to individuals should the IRS choose to assert the Trust Fund Recovery Penalty against them. In determining whether to assert the Trust Fund Recovery Penalty against an individual, the IRS looks at various factors including, but not limited to, check signing authority, the position held within the company, the percentage of ownership, the amount of control one can exercise over decision-making authority, who signed the tax returns and who hired and fired employees. These factors are used to determine whether the TFRP should be asserted against the persons involved in the operation of the corporation. By asserting the TFRP against individuals, the IRS expands its collection potential to the people that operate the business. The Trust Fund Recovery Penalty consists of all of the income tax that was withheld from employees’ wages and the employees’ share of FICA and Medicare. The Trust Fund portion of the Form 941 liability is typically around $.70 of every dollar but does not include penalties or interest. We can help a company prepare a strategy and defense against this type of collection. Call us if you are experiencing this issue and allow us to help.

Amending Tax Returns

A liability that has accrued when a taxpayer has failed to file tax returns occurs when the IRS files a Substitute for Returns (“SFR”) or “force files” for the taxpayer. The IRS will file the return on the taxpayer’s behalf, giving them zero deductions, overstating the amount of tax owed, and placing them in the highest tax bracket possible. Most people would not file this way, and this may cause large balances for every year an SFR is filed. We can help by amending IRS tax returns accurately, and this, at times, can wipe out the debt completely and in some cases will even result in a net return to the taxpayer.