IRS/FTB Representation
During our years of experience dealing with many taxing authorities, we have achieved a level of competence that can ensure our clients they are being properly represented before the various federal and state tax agencies. Listed below are areas in which Larry Boss, CPA, Partner specializes in:
Delinquent Tax Returns
Often the first order of business in dealing with a tax collection problem is the preparation and filing of any delinquent tax returns. The IRS is unable to enter into a long-term payment arrangement or an offer in compromise, until all outstanding tax returns have been filed.
Payroll Tax Issues
Payroll tax issues, at the employer level, present a special situation. Unlike income taxes, payroll taxes that are withheld from employees are "trust fund taxes," and the collection and remittance of trust fund taxes is treated much more seriously under law, and by the IRS. Additionally, many taxes may be discharged in bankruptcy, but payroll trust fund taxes are non-dischargable.
Tax Liens
A Federal Tax Lien is a notice that you owe the IRS money. The lien itself "attaches" to certain property that you might own, and is recorded in the local courthouse, and possibly at the state level. A Federal Tax Lien will generally appear on a taxpayer`s credit report, and may adversely affect one`s ability to sell property or obtain credit, but does not, in and of itself, actually seize property.
Installment Payment Plans
If a taxpayer is unable to pay the taxes due in a short period of time, a longer-term installment plan is often negotiated by a tax professional with the IRS. While results can vary widely, and differ greatly depending upon the type of tax due, and whether the taxpayer is a business or individual, the monthly payment is based more on ability to pay, and less on the actual tax due.
Offer in Compromise
If a taxpayer is unable to pay the taxes due in a short period of time, an offer in compromise might be negotiated by a tax professional with the IRS. An offer is presented that provides the government with a sum of money -- often pennies on a dollar -- in full settlement of all tax debts owed. The successful offer is calculated based upon the net assets of the taxpayer and the taxpayer`s anticipated monthly cash flow over the next few years.
Included in your tax preparation fee is our: Maximum Value Program (MVP).
So what does that mean?
- It means that if you`re audited we will fully represent you through the appellate level (second step of representation of personal income tax audits).
- It means we`ll answer all correspondence the IRS or Franchise Tax Board sends you regarding your tax return.
- It means that we will work with you to get the best results possible out of an audit.