Why Hire A Tax Resolution Specialist?
Taxpayers are free to represent themselves before the IRS to solve their tax problems; however, dealing with the IRS can be a frustrating, time-consuming, and intimidating experience. Linda Bal & Associates, when hired, takes charge of your situation relieving you from all further IRS conversations.
The IRS is very aggressive in its tax collection efforts with an inflexible stance towards individuals who are behind in their taxes. Hiring Linda Bal & Associates to deal directly with the IRS is the best way to achieve resolution of your tax problem.
Each IRS tax problem is unique and requires a unique solution. We take the extra time to understand your situation completely and find the best solution for you and not the one that worked for our last client.
Some of the specialized services and tools available to help our clients include the following:
Offer In Compromise
Offer In Compromise is the IRS program that allows you to pay back based on what you can afford to pay and not the amount you owe! Some individuals call it a Bankruptcy where the IRS is your only creditor. With an Offer In Compromise, you pay only what you can afford to pay, the balance of the debt the IRS claims you owe, including all penalties and interest is wiped away. . That's right - the program allows an eligible taxpayer to pay what they can afford regardless of the amount they owe. Once the offer is accepted and paid, the taxpayer is considered current with the IRS.
If you can not pay what you owe all at once but could pay it back over time, a payment plan could be the right option for you. A Payment Plan or Installment Agreement, as they are sometimes known, is an IRS program that allows monthly payments of the taxes you owe. We can negotiate with the IRS for a reasonable monthly payment with a pay back period up to 5 years. Once the plan is established, all IRS collection actions, including bank account levies, wage garnishments and property liens come to a halt. The only obligation is that the taxpayer remain current with payments and filing of all subsequent tax returns.
The amount that a taxpayer owes can at times be just the tip of the iceberg. The IRS adds daily penalties and interest to the unpaid tax with the ever-mounting balance sometimes becoming unmanageable in a short period of time. We can often have the penalties and interest reduced or eliminated by demonstrating a reasonable cause. Another option is to combine the penalty and interest abatement with an Installment Agreement as discussed in the previous section.
Statutes of Limitations
There is a time limit imposed on the IRS on back tax collection efforts. They only have so long to collect the tax they claim you owe. As part of our basic service we will review the IRS claims and the applicable statutes to check on the expiration dates.
IRS Transcript Requests
You have the legal right to see and the IRS must disclose how they calculated the back taxes and penalties that they claim you owe.
Through a Power of Attorney that you grant to us, we can secure your IRS file. The IRS files, known as transcripts, will then be reviewed and interpreted for you. The transcripts will reveal your history with the IRS and if any mistakes were made by the IRS. Yes, even the IRS makes mistakes!
We have often found that taxpayer mistakes in the submitted returns or forms/schedules that were not filed are the reasons for the back taxes owed. Many times the tax problem can be abated simply by filing an amended tax return!
Delinquent Tax Returns
Failure to file a tax return is a serious issue that could include criminal penalties and possible jail time. (Remember, Elliot Ness got Al Capone on tax evasion.) If you do not file a return the IRS will do it for you. But the tax will be calculated based on the income information they have on file without credit for allowable deductions and/or exemptions. The amount of taxes the IRS computes can be many times higher than the amount that would be owed considering all allowable deductions and exemptions. You have the right to file your original tax return, no matter how late it is filed. We can prepare and file the past due returns to reduce the amounts owed and help avoid the harsh penalties.
In addition, the IRS will not entertain any type of tax settlement, Offer in Compromise or Payment Plan mentioned above until you are up to date with your tax returns.
Going before the IRS without expert representation would be like going to court without a lawyer. We are experts in representing taxpayers under audit. We understand the process, know the terminology and are aware of the "red flags" that may not be apparent to a taxpayer. We can close audits quickly and most importantly avoid expansion of the audit into other areas of your tax return.
Contact Linda Bal & Associates
To work with a legal professional who knows how to resolve IRS tax problems, contact Linda Bal & Associates today to arrange your free initial consultation. Call toll free (800-599-2152) or e-mail us.
We offer reasonable flat rate fees with no hidden costs; weekend and evening hours, with appointment flexibility; all work performed personally and directly with you, by an experienced attorney; and prompt, professional service you can count on.