You filed your taxes on time and it was a huge relief. Getting your taxes prepared every year is burdensome. Then you stumble upon some additional tax information. The nervous twitch you feel inside about taxes comes back. We recommend amending your IRS tax return.
ALG Tax Solutions founder A.J. Gross was interviewed on Lansing Fox 47. A.J. discusses settling IRS taxes for less.
It seems the IRS charges penalties for everything. IRS Penalty for filing a return late. IRS Penalty for paying taxes late. IRS Penalty for not paying enough estimates. IRS Penalty for not filing 1099s. IRS Penalty for …. The list goes on. If you have reasonable cause, the IRS will abate IRS Tax Penalties.
Offer in Compromise Settlement based on Effective Tax Administration is not common. There must be an exceptional circumstance to qualify for this type of Offer in Compromise Settlement.
There are three different types of IRS Offer in Compromise. An IRS Offer in Comprise based on Doubt as to Liability is a less popular type.
Offer in Compromise is an IRS program to settle your taxes for less. There are three different types of Offer in Compromise. This blog reviews Offer in Compromise Doubt as to Collectability.
Can you settle tax debt? It does not seem possible. Why would the IRS accept less than what is owed?
The IRS will settle tax debt and accept less than owe. You must qualify.
Tax accounting is one of the more trusted professions. Every year people gather tax information then go to a trusted source for tax service. The problem is people may be receiving inferior tax service and do not realize it. Most people find out the hard way. A year to two after the tax return was filed, they get an IRS tax bill. The IRS found a mistake made by your accountant.
You filed your Partnership return late. A few months later, you receive a letter from the IRS. The IRS charged the Partnership late filing tax penalties.
Partnership tax returns are generally due on April 15. Unless an extension is filed. If you miss the filing deadline, the IRS will issue late filing tax penalties. You may be able to remove the IRS tax penalties. Click Here to learn about penalty abatement. Continue reading…
How is this for a story? Client is scammed out of $120,000 of retirement. The retirement is considered taxable income. A return is filed and the client owes $30,000 of taxes. Talk about adding insult to injury.