Tax Return Issues

Tax Debt Relief – How Complete CPA Can Help Your Business?

If you are facing a situation where the Internal Revenue Service (IRS) is demanding money from you, you are going to need the help of a professional tax resolution company near you in Florida. No matter if you feel the debt is warranted, or not, tax debt relief services can help bring IRS and/or state tax debt issues to a better resolution than an individual tax preparer or you can achieve on your own.

The Consequences

The collection rights that the IRS possesses are far greater than those of credit 1card companies or banks. The IRS can garnish income from wages, retirement, and even social security. They can levy assets and seize property too. The bottom line is that those who have an IRS and/or state tax debt issues need the help of IRS tax settlement firms.

If you need to resolve unfiled payroll taxes or have failed to file a federal and state tax return for one or more years, you definitely can use the assistance of a Certified Public Accountant near you in Florida. Whether or not the IRS is hunting you down or not, you’ll need help straightening these issues out or you can rest assured you will be facing serious legal issues soon. Here are some reasons people accumulate tax debts and require the assistance of IRS tax settlement firms:

Interestingly, it’s not illegal to owe taxes. But, it is illegal not to file a tax return. Furthermore, when you do fail to file, the IRS will file for you. It’s called a Substitute for Return (SFR) and it’s something you don’t want because you will likely not receive any or all of your allowable deductions, only your debt.

Many taxpayers do file a federal tax return but neglect to file a state return. The consequence is the same as above in that the state will file one for you and it’s never in your best interest.

Business owners are often guilty of not paying their quarterly Estimated Tax Payments during the course of the year. Tax debt can easily accumulate throughout the following year which makes it difficult or impossible for him to pay the balance that is owed.

What you or your tax preparation individual considers to be correct and what the Internal Revenue Service (IRS)  deems correct are often two different things entirely. If the IRS is disputing what you have filed, you’ve got a problem, even if it was a mistake. You will need a professional tax resolution company near you in Florida to represent you.

If you are being audited, it could be due to a mistake – like rushing to get your taxes in on time or incorrect information. Or, your Certified Public Accountant may have made an oversight.  Whatever the case, if you are being audited, you need representation.

There are a myriad of other IRS and/or state tax debt issues that can land you in a world of trouble. Pulling retirement funds out early, failure to pay gambling tax, and under-withholding can warrant the need for IRS tax settlement firms.

Not only can a professional tax resolution company help you reach a settlement with the IRS or get you off the hook entirely, but they can also assist you with tax return preparation and planning so you don’t find yourself in a jam. Plus, Certified Public Accountants are beneficial for other services in other areas too like full-service accounting, bookkeeping, payroll processing, Quickbooks setup and supports, free business consultation, financial advice and guidance for saving money, etc.

When it comes to tax relief, some of the resolutions that are possible include: Offer in Compromise, Installment Agreements, Custom Solutions, Tax Lien Subordination, Collection Statute Expiration Date, Penalty Abatements, and the Fresh Start Payment Plan. If you are in need of a professional tax resolution company near you in Sarasota Florida then call us toady, Complete Small Business Solutions would love to meet with you to let you know how we can help.