Owing back taxes tends to mean two things: stress and tax penalties. If you fail to pay the tax you owe, or you underpay the amount due, then the interest and additional IRS tax penalties can really start to add up, weighing down your finances even more. However, you can work to end the tax penalties by coming to a settlement with the IRS. At Taxation Solutions, Inc., our certified tax resolution team in Overland Park is fully equipped to help you with tax penalty concerns large and small, and in some cases, we can even help you reduce or eliminate the penalties altogether. Just because you have an outstanding tax liability doesn't mean you have to suffer under snowballing tax penalties. Give us a call or send us an e-mail to schedule your free consultation and learn how our professionals can help with the federal tax penalties you have on your plate.
Releasing IRS Tax Liens
Tax liens are a form of tax penalty placed on your property as a way for the government to ensure the tax debt is paid. Commonly put on real estate, such as your home, as well as vehicles, the total amount of the lien is determined by the outstanding interest, tax, and tax penalties you owe. And because tax liens are public record, they can appear on your credit report and prevent you from opening a new bank account, selling property, or even getting a mortgage. If you're stuck with IRS tax liens from unpaid taxes, let Taxation Solutions, Inc., help. We have a thorough understanding of tax laws and how they apply to your specific case, and we can develop an alternative plan for paying your back taxes that can help get that lien lifted. Whether an IRS installment agreement or an offer in compromise is the best route to having the lien released, we'll offer professional advice, filing assistance, and step-by-step support for your tax resolution.
If you think just owing back taxes is bad, wait until you see the tax penalties and interest pile up! Did you know that federal tax penalties alone can add up to nearly half the total tax owed? The good news is that you can find relief from IRS tax penalties. At Taxation Solutions, Inc., we understand that the burden of tax penalties can make paying your back taxes that much more difficult, and the stress can add up as the debt total rises. That's why we're pleased to be able to go to bat to help you obtain penalty abatement. The government understands that sometimes you have a legitimate reason for not paying or underpaying your taxes, and in these cases, the IRS tax penalty can sometimes be reduced or removed entirely. These circumstances can include:
- Death of an immediate family member
- Unavoidable absence (such as incarceration or rehab)
- Destruction of tax records (due to fire, flood, or other natural disaster)
If one of these situations applies to you, our IRS tax relief team can help you compile your evidence and apply for penalty abatement. Having the certified tax resolution specialists at Taxation Solutions, Inc., on your team will help ensure that your case is backed by the appropriate documentation to secure relief from these penalties, so don't go it alone. We'll help you get out from under these tax penalties to make paying what you owe easier.
Relief from IRS Wage Garnishment
When back taxes are owed, the government can ensure the debt is paid by automatically deducting payment straight from your wages. If this happens to you, your ability to cover day-to-day expenses can be severely compromised, and your stress levels can go through the roof. The good news is that you do have recourse if your paycheck is being subjected to IRS garnishment. Taxation Solutions, Inc., can help you negotiate an alternative agreement, such as an IRS installment payment or offer in compromise, to have the wage garnishment released. This enables you to pay back your owed taxes on your own terms, rather than the government's, and since you have a say in the terms, we can help you negotiate an IRS installment payment plan or other tax settlement that won't devastate your ability to pay your bills. For more information on how we can stop IRS garnishment, contact us now!
Help with Tax Levies
If you've received notice of an impending levy on your property, make sure you contact Taxation Solutions, Inc., right away. An IRS tax levy is a legal way the tax authorities can seize your property as payment of owed tax debts, and once the seizure has been fulfilled, it can be extremely difficult to get it back. IRS tax levies can be placed on wages, bank accounts, and even your home or vehicle, so they're truly no laughing matter. Our tax consultants can help you create an alternative settlement with the authorities, such as an IRS installment agreement, that can release the levy and prevent the seizure of your property. Don't wait: Call us now to get started on lifting the tax levy before it's too late.
- tax liens
- tax penalties
- tax penalty