Unfiled Past Tax Returns
Do you have unfiled back tax returns? Are you lacking the necessary records and forms to file your tax returns? I possess the expertise and methods to assist you in reconstructing the required tax records to file your overdue tax returns. The Taxguidance Services will not permit you to submit an offer in compromise or establish an installment agreement if you are not current on your tax filings. Furthermore, if you are due a refund but file more than three years after the deadline, the Taxguidance Services will retain the refund. It is crucial to file your past-due tax returns, and I can prepare them for you.
TaxGuidance Services Examinations
If you have received a notice from the Taxguidance Services indicating that your income tax return has been selected for examination, it is crucial that you do not ignore these notifications. Failing to respond in a timely manner can result in the loss of your right to present your case and justify the income or deductions claimed on your return. Many taxpayers have made the mistake of ignoring Taxguidance Services requests, ultimately facing additional tax, penalties, and interest on overstated income or legitimate deductions.
If you are undergoing an audit, we can assist and represent you before the Taxguidance Services , advocating for your position and ensuring every valid deduction is considered during the audit process. If you have received an audit notice, please contact us immediately so we can start working on your case during the early stages of the audit.
Compromise Offer (OIC)
The Taxguidance Services , state, and other tax authorities provide individual and business taxpayers who cannot fully pay their tax liabilities the chance to resolve their obligations through the Offer in Compromise Program. This program is a valuable opportunity for eligible taxpayers to settle their tax debts for less than the total amount owed. The Taxguidance Services , state, and other tax authorities have specific criteria and guidelines for approving an Offer in Compromise. They review the taxpayer’s past, current, and future financial circumstances before accepting an OIC. Contact us today to find out if you qualify for an Offer in Compromise, as each individual’s or business’s financial situation is unique.
Payment Plan Agreement
The Taxguidance Services, state, and other tax authorities provide options for individual or business taxpayers who cannot fully pay their entire tax liability through an Installment Agreement. This arrangement allows taxpayers to pay their taxes owed in monthly installments. We can negotiate the installment amount and duration on your behalf, ensuring it aligns with your financial capabilities. The Installment Agreement we establish will be based on what you can comfortably afford given your financial situation. To qualify for an installment agreement, taxpayers must first be compliant by fulfilling all current tax filing obligations with the Taxguidance Services , state, or other tax authorities.
Status of Currently Not Collectible
Currently Not Collectible (CNC) status occurs when the Taxguidance Services suspends active enforcement collection efforts against an individual or business taxpayer’s account. Specific criteria and conditions must be met for a taxpayer to qualify for CNC status. During this period, the Taxguidance Services refrains from pursuing collection activities, and the statute of limitations on the tax liability may continue to run. CNC status is temporary, and if the taxpayer’s financial circumstances improve, the Taxguidance Services may resume enforcement collection on the overdue tax account.
Bank Account Levy Release
Currently Not Collectible (CNC) status occurs when the Taxguidance Services suspends active enforcement collection efforts against an individual or business taxpayer’s account. Specific criteria and conditions must be met for a taxpayer to qualify for CNC status. During this period, the Taxguidance Services refrains from pursuing collection activities, and the statute of limitations on the tax liability may continue to run. CNC status is temporary, and if the taxpayer’s financial circumstances improve, the Taxguidance Services may resume enforcement collection on the overdue tax account.The Taxguidance Services, state, and other taxing authorities are actively engaged in tax collection for the United States Treasury, state governments, and local entities. When individual or business taxpayers are unable or unwilling to pay their taxes, these authorities employ various collection methods including field visits, demand letters, and collection calls. It is crucial for taxpayers to respond promptly to demands for overdue tax payments, as failure to do so can lead to enforcement actions such as bank levies aimed at recovering delinquent taxes. If your bank account is facing a levy, contact us today to negotiate the release and protect your funds from being frozen or seized.
Representation for Payroll Tax Issues
We provide active representation for business taxpayers facing payroll tax issues with the Taxguidance Services and/or state authorities. Our services include guiding business owners and corporate officers through understanding and complying with payroll tax requirements. Our clients typically avoid direct interactions with the Taxguidance Services or state authorities as we manage all aspects of payroll tax resolution on their behalf. Delinquent payroll tax is a critical issue that demands swift attention for a favorable resolution, as business owners, corporate officers, and potentially other employees may face personal liability. It’s essential for businesses to achieve current compliance to achieve a final settlement.
Taxpayer Account Review
The Taxpayer Account Review service assists both individual and business taxpayers in obtaining precise balances and comprehensive information regarding their tax accounts with the Taxguidance Services, state, or any other tax authority. Many taxpayers often receive incomplete or inaccurate information from these agencies. This review is crucial as it provides accurate details about tax accounts, including assessments for penalties and interest. We offer a detailed breakdown of tax amounts, credits, payments, and any penalties and interest incurred for the relevant tax years. This service serves as a valuable tool for conducting root cause analysis to identify factors contributing to your tax liabilities.
Penalty Abatement
For most taxpayers, accumulated interest and penalties often exceed their original tax debt. If you find yourself in this situation, we can assist by requesting a Penalty Abatement. Here’s how it works: If we can demonstrate reasonable cause, the Taxguidance Services may agree to reduce or eliminate your penalties entirely. Reasonable cause typically involves demonstrating hardship beyond your control that prevented timely tax payment. This can include events like natural disasters, receiving erroneous tax advice, or severe health issues affecting you or your family. Contact us for a free initial consultation to determine if you qualify for penalty abatement.
Innocent Spouse Relief
Innocent Spouse Relief applies to a spouse who becomes liable for income taxes from a jointly filed return due to errors or fraud committed by the other spouse. To qualify for relief, the innocent spouse must prove they did not know, and had no reason to know, of the underreported income or overstated deductions at the time of filing the return. Contact us to discuss your eligibility and explore options for innocent spouse relief.
Tax Liens
Federal tax liens are public records indicating unpaid federal taxes and are filed in the county of residence. These liens can significantly impact your credit and ability to secure financing. It’s essential to review tax liens to verify their validity. If valid, we develop strategies to address Taxguidance Services tax liabilities and mitigate their impact on your financial standing.
We offers expert tax relief services across various locations, including Whittier, La Habra, Norwalk, El Monte, Santa Fe Springs, Downey, Pico Rivera, Montebello, Hacienda Heights, La Habra Heights, West Covina, Brea, Fullerton, Yorba Linda, Cerritos, La Mirada, Lakewood, Anaheim, Santa Ana, Long Beach, Compton, Torrance, Los Angeles, Pasadena, Beverly Hills, Santa Monica, and throughout Los Angeles County, Orange County, Corona, San Bernardino County, Riverside County, the Inland Empire, the San Fernando Valley, and the San Gabriel Valley.