Nothing strikes fear in the hearts of consumers and business owners more than receiving an IRS Audit letter in the mail. While death and taxes are the big two inevitabilities, those with serious tax problems should know that it is possible to negotiate with the IRS to reduce past-due tax penalties and payments. However, it is important to know that audits take significant time away from businesses and families, requiring them to gather mounds of records substantiating each item reported on a tax return.
Hence it is wise to rely on tax relief specialists or certified public accountants with special training and experience. Furthermore, we have years of real-world experience providing bookkeeping, tax services, and tax planning at Peggy's Bookkeeping and Tax Service. Consequently, we prepare a guide to understand tax issues better.
Tax Debt and the IRS
As most Americans know, the IRS is serious -- and increasingly aggressive -- about tax collection and evasion. Tax debt can result in a lien on a house or garnished wages. Consequently, the more information available about Tax preparation, the better. The following may be some of the most common tax issues:
- Payroll Tax Problems
- IRS Liens
- IRS Levies
- IRS Wage Garnishment
- IRS Seizures
- IRS Payment Plan
Consumers with tax debt may find it much less costly and more straightforward to work with a debt resolution firm's tax relief service. These firms allow individuals to set up tax payment plans while avoiding court fees, attorney fees, and bankruptcy judgments on their records.
Why rely on Peggy's Bookkeeping and Tax Service?
At Peggy's Bookkeeping and Tax Service, we can navigate the intricacies of IRS forms and calculations, helping our clients understand the criteria the IRS imposes to ultimately help them get back into good standing with the IRS. Moreover, we will evaluate the situation and determine the following:
- Establish the total amount owed, including taxes, penalties, and accumulated interest
- Help them understand whether collection limitations or penalty cancellations are possible.
- Determine the best method for managing and eliminating the tax debt.
- Negotiate with the IRS to settle an agreed course of action and resolve the debt.
Tax season means it's time to face the inevitable and manage your tax burdens. Fortunately, Peggy´s Bookkeeping and Tax Service can provide affordable and friendly advice along the way.