24 Tax Questions and Answers.
1. What can I do if the IRS levies my wages?
This levy can be released with the help of a Tax Tiger tax specialist who is experienced in IRS resolution. There are requirements that have to be met in order to obtain the release, which the specialist will use on your behalf.
2. What can I do if the IRS levies my bank account?
This is a very serious event and takes a very skilled tax expert to mediate the release of a bank levy. The law allows 21 days to provide documentation to obtain a full, or sometimes partial release. It is critical you call Tax Tiger immediately upon receipt of one as it takes time to get a release.
3. What if I haven’t filed all my tax returns?
It is against the law not to file a tax return every year. You should file all back returns as soon as possible to avoid incurring additional penalties and interest for failure to file. A Tax Tiger tax specialist can help you resolve what you owe.
4. What do I do if the IRS audits one of my tax returns?
You will need to locate all of your receipts to prove the deductions and/or income on your return. A Tax Tiger audit specialist can help you organize your receipts, and present them to the IRS agent, and resolve the issue in many cases with no additional tax due. But there are also special rules for people who have lost their receipts.
5. Is there any way to avoid a tax audit?
There are some red flags that could trigger an audit such as using the home office deduction, too high of charitable contributions or consecutive years of losses for self-employed individuals, as well as high auto mileage deductions.
6. I have fallen behind on my payroll taxes and now owe the IRS a large amount and can’t catch up. What do I do?
Owing payroll taxes is the worst possible tax offense. This means you have taken your employees social security contributions and spent it in your own business. You need to hire a competent Tax Tiger attorney immediately so as to prevent the closure of your business and serious penalties.
7. What can I do if the IRS has filed a lien against me?
A tax lien can attach to property, and typically it will only attach to real estate and your credit report. If you don’t own any real estate, then it’s just your credit report. A lien can only be released upon a few conditions, depending on how much you owe and a couple other factors.
8. What can I do if I can’t afford to repay the IRS what I owe?
All IRS debt is negotiable in some manner and there are several strategies available to consider. This takes a very skilled tax specialist to negotiate the right service and hopefully get you a settlement offer. Tax Tiger is an expert at achieving small settlements.
9. Once I have hired a Tax Tiger specialist to help me with my tax issue, will the IRS continue to levy me?
No, a tax specialist will negotiate a resolution and during that time, the IRS will leave you alone and work only with the specialist. This brings great relief.
10. If I have past due payroll taxes, can the IRS come after me personally?
Yes. They will assess a huge penalty called the Trust Fund Recovery Penalty which will usually 2X your tax liability. This situation needs immediate action by an expert Tax Tiger attorney.
11. What does “Currently Non Collectible” mean?
Currently Non Collectible is a status the IRS uses to place a tax payer into when they cannot afford to pay anything to the IRS. It is a hardship status and is generally good for one year.
12. Will I be able to get an Installment Agreement for my tax debt?
Yes, most people are eligible for some type of Installment Agreement depending on their financial situation. A Tax Tiger specialist can help negotiate a reasonable repayment term, where you don’t end up paying too much, and where the plan won’t go on forever.
13. Can I get rid of my tax debt in bankruptcy?
Sometimes. It depends on many factors such as how old the tax debt is, and your financial situation. Consult a Tax Tiger expert for the qualifications.
14. Is it possible to have my penalties reduced?
Yes, there are Internal Revenue codes that allow for reduction of penalties. For these situations a Tax Tiger specialist will examine your liabilities and determine which years may be eligible for a reduction of penalties.
15. If I own a business, do I have to have a separate bank account for my business?
Yes, it is always best to separate your business account from your personal one, as the IRS will call this “co-mingling” of funds.
16. Can I speak to the IRS myself about my tax debt?
Yes, you can, but you should NOT. The IRS does not have your best interest at heart, and will not give you all of your rights as a taxpayer. This puts you at a great disadvantage and may not help your situation at all.
17. What does the term tax resolution mean?
It is a system of solving tax issues with the IRS. This solution can be many things, from an awesome settlement offer, to a small payment plan or even a hardship plan where you won’t pay anything for a period of time. You will need an expert Tax Tiger specialist to achieve the best solution.
18. What if I don’t live close to a Tax Tiger office?
No problem. We have clients all across the United States and will give you a free consultation over the phone. You won’t even need to come into the office.
19. Does Tax Tiger cover clients in all 50 states?
Yes, we have clients in almost all 50 states and we have been settling our clients tax issues nationally for over 15 years.
20. There are many tax resolution firms so how do I choose one who is credible?
There are many firms but very few, if any, have the reputation of an A+ rating with the Better Business Bureau, as well as a track record of settlements as low as $20 against tax debts of thousands. Further, Tax Tiger is a faith based firm which uses principles and values of honesty and integrity with its clients.
21. If I have not filed a tax return in 10 years, can I get help in filing them?
Yes, Tax Tiger has a tax preparation department, and they file all back returns, no matter how many years are required to be filed. In most cases, only 6 years will have to be filed.
22. I owe the IRS and I am very scared and don’t know what to do?
Owing the IRS is a very scary experience but Tax Tiger will definitely eliminate your fear and resolve your issue, and you will have peace of mind for you and your family again. Call them NOW for a free consultation.
23. How much does it cost to consult a tax resolution specialist?
At Tax Tiger, our consultations are FREE. There is no charge to analyze your situation and come up with a plan to help solve the issue. We can do this by phone or in our office. We have 5 offices nationwide.
24. Can you file my tax returns if I live in a different State or City?
Absolutely, Tax Tiger files returns in all 50 States. Our clients come back to us each year as we save them the maximum allowable. It can all be handled by phone, fax and e-mail.