How Can a Tax Coach Help You Resolve Back Tax Issues?
If you owe taxes from previous years or have unfiled returns, we can help! Working with an accountant that specializes in tax resolution will help you deal with the IRS. Solving back tax issues is vital for individuals and small businesses to get their finances back on track. Here are a few things to consider when dealing with back tax issues.
Can I Avoid Paying Back Taxes?
Few things in life are more stressful than owing the IRS substantial amounts of money. The first step to getting your problem behind you is working with a tax resolution specialist to determine your best options. While you may not be able to totally avoid paying your back taxes; there ARE options to help ease the burden. You may qualify for an Offer In Compromise and be able to settle your back tax debt for less than the full amount owed. Or you may be able to get additional time to pay your tax debt with an Installment Agreement. And in some cases, penalties may be abated to help reduce the total amount owed.
How Far Back Should I File Back Taxes?
The IRS considers having filed the last six years returns as being compliant. If you do not have all the information necessary to prepare your back returns, we can help. We can get the necessary information and reconstruct your tax records to file those returns. A taxpayer must be up to date in their filings before the IRS will consider collection alternatives. Also keep in mind that failure to file penalties can add up to 25% to the balance that you owe. The sooner that you file missing returns the better!!
Why Do I Need a Tax Resolution Specialist?
Dealing with back tax issues can be quite a challenge. The IRS collection process can be tedious and can cause taxpayers to feel anxiety and stress. Consider hiring a tax professional that is licensed to practice before the IRS. In most cases, their knowledge will result in a much better outcome compared to a taxpayer who tries to handle the situation themselves. Example: Tax resolution specialists seeking an Offer In Compromise on behalf of their client will have a higher rate of acceptance. Having representation will also alleviate much of the stress since the IRS must deal directly with your representative and will not contact you.
Call Bottom Line Tax Solutions today at 678-866-4048 to get help with back taxes or contact us by completing our online form. We are here to help you resolve your back tax issues, and that’s the bottom line!