Have You Received That DREADED Letter from the IRS That Says You OWE Taxes?
Have you received a Notice from the IRS only to leave it on your kitchen counter, desk, or worse, just hide it under a stack of bills? Are you afraid to even open the letter from the IRS? Unfortunately, those letters from the IRS will just keep coming.
The IRS not only can freeze your bank accounts, but they can seize all the money in your bank accounts too. They can garnish your wages. They can legally take as much as 75% of your net pay check. They can put a lien on your house, making it nearly impossible to borrow against it to pay the IRS off. And if you sell your house the IRS gets their money first from any equity there is. An IRS lien makes it harder to borrow money, rent an apartment, get a car, obtain any kind of credit. An IRS lien can even jeopardize your job! And believe it or not, the IRS has the authority to show up and knock on your door! Make no mistake—the IRS is the most brutal collection agency on the planet.
They are the only creditor in the world that doesn’t need a Court Order to take your “stuff”! And they have a lot of leverage to do whatever they want. They don’t have to ask for permission to take your money from the bank or garnish your wages. They can even take your personal property—your car, real estate, vehicles, jewelry, IRAs, 401Ks, the list goes on. If you owe them—they will collect. And they are not going to go away.
Most people who have IRS problems haven’t filed in a few years. It’s a common problem. Someone gets sick and they can’t work, someone loses their job. There’s no money to pay the taxes one year so they don’t file, and they are afraid to file after that because they don’t want to get caught. Even if you have no assets today, in the event that you acquire them in the future, the IRS can take them away from you.
Well—At Least I Will Have The Money from My Retirement Fund
Actually no—they can take that money too. They don’t care about you, or your Social Security, pension, 401k, or your IRA—they are the collection arm of the United States Treasury and if they think you have their money, they will do whatever they have to, to obtain it. All of this can take a devastating toll on your physically too. It can cause sleepless nights, stress, and tired days from all those nights of being awake. To owe taxes, maybe owe even more in penalties, then have all of your savings taken, your paycheck garnished, your property seized—that’s no way to live.
Is There Anything I Can Do To Get My Life Back?
You could opt to represent yourself before the IRS. But representing yourself before the IRS is like going to court without a lawyer. Or you can hire someone who knows how to protect you and your rights. The only professionals who can represent you before the IRS are Attorneys, CPAs, and Enrolled Agents. We at Popular Tax are experts in tax resolution and help taxpayers with their IRS Problems every day.
Once you sign a Power of Attorney, a document that says we are representing you, the IRS is not allowed to contact you directly any longer. The next calls we make are to release the Bank Levies and Wage Garnishments against you. Again, you may be wondering how that is possible for us to do that. We do all the talking to the IRS; we handle all of the phone calls, correspondence, meetings, and negotiations, so you don’t have to!
Some people don’t know which returns need to be filed or what they really owe: their personal or business bookkeeping and recordkeeping is a mess or non-existent. After we register our Power of Attorney with the IRS, the second step we take is to get all your IRS tax records from the IRS to see where you stand. After that, with your help, we prepare all your delinquent income tax returns and get them filed with IRS. And lastly, we negotiate the best possible resolution that permanently resolves your IRS difficulties. That may mean doing an Offer in Compromise, a properly structured Payment Plan, Currently Not Collectible Status, Penalty Reduction, and more.
The IRS announced their “Fresh Start Initiative” which allows more taxpayers than ever before to settle up with the agency. Now is the time to take advantage of these less-stringent, more flexible programs before the IRS changes its mind again.
Everything mentioned: The Power of Attorney, getting your Tax Transcripts from the IRS and filing all your back taxes, is prep for the Big Deal—we want to see if you are qualified for the IRS’s Offer in Compromise program—that’s where you pay the IRS less than you owe. That’s right there are ways to negotiate with the IRS with the opportunity to reduce your tax debt, penalties and interest substantially.
But the IRS won’t negotiate with us, or help you, if you don’t have all your legally required income tax returns filed. The IRS’s Offer in Compromise, or settlement program as it is known is complex, time consuming, tedious and requires someone knowledgeable enough to call the IRS’s bluff when they’re not following their own rule and regulations and want you to pay a much higher amount than you should. You need an expert who knows how to preserve your rights!
We have settled many of our client’s cases helping people reduce the amount they owe the IRS including getting penalties and interest removed. When I say settle, I mean completely 100%! Once the IRS has accepted the amount you offer and you pay the reduced amount, the IRS releases all Federal Tax Liens. Your IRS nightmare is over and you get your life back.
And even if you don’t qualify for an offer in compromise, we still might be able to help you reduce the penalties and set-up a payment plan that you can afford and get the IRS off your back.
I specialize in helping taxpayers as well as Small Business Owners like you with IRS problems. The first thing we do is meet with you and go over your situation and ways that we can help you. Once you decide to retain us, we step into your shoes and protect you from the IRS’s abusive tactics.
For Small Business Owners
Penalties for failing to file and pay your payroll taxes are the “kiss of death” for any small business owner. The IRS tacks on penalties totaling 33% in just the first 16 days! The IRS adds interest on top of the penalties too. It is not uncommon for a payroll tax liability to double in short order. And if you don’t pay them or work something out, they will shut you down! It’s much less work for the Revenue Officer to simply close you down than work out an arrangement with you.
Owing 941 payroll taxes is a different animal than owing 1040 income taxes. It could turn into a criminal matter quickly. Why? Because the money you owe your employees for payroll taxes has already been deducted from your employee’s paychecks for withholding purposes. It’s not your money to begin with — The IRS has entrusted you to hold this amount, on behalf of your employees, and pay it over to the IRS when you issue paychecks.
The IRS looks at this as if you “stole” from them. The IRS gives your employees credit for the withholdings and fully expects you to pay this amount over to the IRS at the same time you pay your employees.
But, You Need to Take the First Step!
Sometimes taxpayers with IRS tax problems decide to face the IRS on their own. Sometimes they hire a professional like a CPA, Attorney or EA, but not someone who specializes in tax resolution. The best thing to do when faced with an IRS Problem is to hire an expert in tax resolution so you can get the best result possible.
Even if you owe $10,000 or less, have all your income tax returns filed, and are able to pay the amount due over 36 months with a guaranteed a monthly Installment Agreement (payment plan), it’s in your best interests to pay a small fee to have a professional set it up for you.
Top 4 reasons why hiring a CPA, Attorney or EA is the smart thing to do if you OWE money to the IRS
- Contrary to popular belief, you DO have rights as a taxpayer you probably don’t even know exists. One of those rights is the right to representation. If an IRS revenue officer or revenue agent calls or “visits” you, did you know you are under no obligation to answer any of their questions? You politely respond by asking for their contact information and telling them you are in the process of hiring a professional to represent you and that this person will contact them directly. A CPA or EA that deals with IRS problems for a living knows the “ins” and “outs” and how to deal with the IRS so that your rights are protected. A tax resolution specialist also knows how to get you the lowest possible settlement. Generally, our clients never meet or speak with the IRS once we’re on the scene!
- If you owe between $10,000 and $200,000 plus, the IRS has many NEW flexible programs available to taxpayers such as Offer in Compromise, Partial Pay Installment Agreements, Payment Plans, Penalty Reduction, and Currently Not Collectible Status to name a few. Each carries with it its own unique process, procedures and qualifications. Having an experienced Tax Pro in your corner ensures you are taking advantage of the best options available to you.
- Having unfiled returns (on average our clients have more than 3 years of unfiled returns) qualifies for getting professional help. Not filing legally required tax returns when due is considered a federal misdemeanor which carries with it a $10,000 fine and potential jail time. Hiring a professional to represent you is the smartest move you can make here!
- If you are being audited or about to be – The IRS will ask you about 50 very intrusive questions in the initial interview with them. How you answer these questions will dictate the fate of your case. Having a tax resolution specialist conduct these meetings, WITHOUT you, is the best course of action I can recommend. Half of the referrals to the IRS criminal investigation division (CID) come from that “nice” guy or gal sitting across the table from you at the audit.
One last thing….ask yourself this question: Would you go to court without a lawyer? If you answered “yes” hopefully you know the law inside and out concerning your case, but if representing yourself doesn’t seem like a good idea it’s best to hire somebody who is well versed in the subject matter