Regular Post
Written by Scott Allen

What is the average IRS settlement Queen Creek Arizona?

IRS Settlement Queen Creek Arizona

There are several different ways to get an IRS Settlement Queen Creek Arizona ?  I am always uncomfortable quoting or giving averages when it comes to settling up with the IRS.  Here is why.  If you are talking about a settlement with an Offer in Compromise, over 98% of the clients who come in don’t qualify for this type of a settlement for various reasons.  So what good is an average when you are only talking about 2%.  We have had some offers for as low as ½ cent on the dollar up to 88 cents on the dollar.  If those were the only two offers, saying the average is 44 cents on the dollar is a ridiculous statement.  For one it would be 8,800% too high and the other 50% too low.  I suppose an average of 15% might be reasonable on all of the Offer in Compromises we have had accepted for clients.

If a client discharges their taxes under the Chapter 7 rules of bankruptcy then the settlement is zero.  It is always zero.  How do you give an average here other than to say our average settlement is zero if you choose to settle your IRS debt using a Chapter 7 bankruptcy?  There is no average, it is always the same.

The best thing to do is to come in and find out what your IRS settlement Queen Creek Arizona would be rather than rely on an average which will more than likely be much different than what you will ultimately receive.  Once I know how much you owe the IRS, how long you have owed the IRS, and have some financial information, I can tell you what you can expect under all the options that are available to settle with the IRS.  And that information will be much more valuable to you than an average from previous clients whose financial ability to pay on the amount owed that never matches your particular situation.

I like to tell clients that if you were a manager of a baseball team and you had two choices—send up a batter with a one in three chance of getting a hit or one you knew would get a hit, which would you choose?  Obvious, you would go with the one you knew was going to get a hit.  That is what you can expect from me.  I will tell you what settlement you will get from the IRS, once I know the facts.  Don’t ever take a chance on relying on averages when you can know the answer with just a little more time and effort.  Practitioners who quote averages will always use that inappropriately to get you to use them and then when it doesn’t happen, will always use it to say, “Well, I was only giving you an average, your settlement is much higher now that I know the facts.”  The best advice is to know the facts not the averages.

Scott Allen E. A.

Tax Debt Advisors, Inc offering IRS settlement Queen Creek Arizona

www.stopIRSaction.com

 

BACK TAX RETURNS, IRS Problems, Offer In Compromise
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Regular Post
Written by Scott Allen

Can someone actually get out of IRS tax debt in Arizona?

IRS Tax Debt in Arizona

The answer is yes, but some ways are easier than others.  Let’s face a few facts.  Some clients spent several years getting into tax trouble and are unrealistic to think that  there is a magic pill or potion that will instantly make the problem go away without any pain or effort.

A short story may be helpful.  One day my father took me over to my grandmother’s house to pull some weeds.  I had previously asked him if I could go to the beach with some friends that day.  When I saw the half acre with weeds up to my waste, I was convinced that there was no way I was going to be able to pull those weeds and go to the beach.  My father drove away and left me there.  He was gone for about 30 minutes and had returned to see what I had accomplished.  I had not pulled any weeds—not one.

Now I was told in no uncertain terms that I need to start the project and he would come back in 30 minutes to see how I was doing.  I reluctantly started the process.  I pulled one weed and it came out pretty easily.  The next pull I was able to get two weeds with just one hand.  Eventually I was able to get about ten weeds in one hand, then I figured out how to get both hands working and was pulling out twenty weeds with two hands.  When my father came back in 30 minutes, I was half done.  I was shocked at how much I had accomplished.  My father had taught me a very valuable lesson that day.  “One weed at a time.”  The project was completed in less than an hour.  If you had asked me how long it would have taken me to do that job, I would have guessed three days.

It is the same with IRS tax debt in Arizona.  I ask my clients to do one task at a time and to keep moving forward and before they know it, their IRS problem will be done.  The vast majority of clients say, “If I knew it was going to be that easy, I would have started this process a long time ago.”  I remind them that it wasn’t an easy process.  It became easier once they started.  That is the hard part—getting started and staying committed to the task.  Goethe said it best when he stated, “Are you in earnest?  Seize this very minute—Boldness has genius, power and magic in it.  Only engage, and then the mind is strengthened.  Begin it, and then the work will be completed.” 

This is true with your IRS tax debt in Arizona.  Do you earnestly want to get it resolved?  If so then engage in the process, begin the task, and as soon as you begin it you are half completed.  The second half will be easier to complete once you realize you are half done already.  A tax problem and a half acre of weeds had a lot in common.  With a one hour free initial consultation I can tell you what it will take to get your IRS “weeds” out of your life.

Scott Allen E. A.

Tax Debt Advisors, Inc

www.stopIRSaction.com

 

BACK TAX RETURNS, IRS Levy, IRS Problems, IRS Tax Audits
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Regular Post
Written by Scott Allen

IRS Trust Fund Recovery Penalty

IRS Trust Fund Recovery Penalty

Internal Revenue Code Section 6672 (a) covers the IRS Trust Fund Recovery Penalty.  This is often referred to as the 100% penalty which indicates how serious the IRS is to punish taxpayers who fail to turn over trust funds.  Trust funds are withholdings that the employer holds back from employee pay checks.  They would include Federal withholdings, Social Security and Medicare taxes.  The term trust means that the employer is holding these funds from a position of trust and is responsible to collect and turn them over to the IRS on a regular basis.

The person or persons responsible for paying these taxes would include but are not limited to the Chief Executive Officer, and any other person authorized to pay the funds and have check signing authority.  The IRS can assess this penalty against anyone who they consider financially responsible.

Many businesses that get in financial trouble and no longer can borrow from legitimate sources such as banks, issuing stock or bonds “borrow” from the IRS by not paying funds held in trust.  The intent is to catch up when business gets better.  With 100% penalties, it would be better to visit the local loan shark—you would get better rates.

If the IRS has determines that you are responsible for paying back trust funds, get professional help immediately.  The IRS will often try to justify going after many individuals without knowing for sure who is really responsible.  This shot gun approach can be devastating financially and the longer you go without contesting the position of the IRS on your responsibility, lowers your chances of being relieved of this tax debt.  Trust funds and the related IRS trust fund recovery penalty cannot be discharged in a bankruptcy.

Scott Allen E. A.

Tax Debt Advisors, Inc.

www.taxdebtadvisors.com

 

IRS Appeals, IRS Problems, Tax Debt, Unfiled Tax Returns
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Regular Post
Written by Scott Allen

IRS Notice CP 504

This is what we call a 90 letter.  The 90 is the number of days from the first notice until this final notice which threatens you with levy action against your wages and bank accounts.  The IRS will also be filing a tax lien if they have not already done so.  This notice is a call to action and in most cases, the services of an IRS resolution specialist is needed to prevent further damage to your credit and finances.  Most of the time the fear associated with the IRS is worst than the actual consequences of dealing with the problem correctly.  

Scott Allen E. A.

Tax Debt Advisors, Inc

www.taxdebtadvisors.com

– – info@taxdebtadvisors.com

IRS Problems
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Regular Post
Written by Scott Allen

CNC Status and Discharging Taxes in Bankruptcy

Can I discharge taxes in bankruptcy?

CNC stands for currently not collectible.  That means that the IRS does not require you to make any payments towards your tax liability.  Almost all of our clients who want to discharge taxes in a bankruptcy will have to wait 2 or 3 years depending on the assessment dates of past returns with taxes owed.  If you quality for a CNC status, you have the benefit of not having to pay any money towards your tax debt while you are waiting to discharge your taxes in a Chapter 7 Bankruptcy.  The important question to get an answer on is then—do you qualify to file a Chapter 7 bankruptcy.  There are limitations to the amount of income you are earning and assets you own.  A consultation ahead of time can allow you to prepare for qualification to discharge your tax liability.  Scott Allen EA of Mesa Arizona in 85204 offers free consultations for IRS debt settlement options. Give him a call today at 480-9269300.

Scott Allen E. A.

Tax Debt Advisors Inc

www.taxdebtadvisors.com

 

IRS Problems, Tax Bankruptcy, Tax Debt
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Regular Post
Written by Scott Allen

IRS Form 2848

Internal Revenue Service Form 2848

This IRS form is used to give permission for someone else to represent you before the IRS.  It is referred to as an IRS Power of Attorney.  It is limited to the items described on the form and those areas of representation are limited to IRS matters.  Typically the form will state what type of tax—individual income tax, form number—1040, and tax years covered—2002-2022.  If there is a problem with any years outside of those mentioned, the IRS will not allow your representative to work on those years.  If you have a payroll tax problem in addition to an individual income tax problem, it too must be separately mentioned.  Before we begin any work on resolving a tax problem, we require a power of attorney.  A power of attorney allows us to get information needed to resolve successfully your current IRS problem.  It is time to stop IRS action against you and hire Scott Allen EA to be your IRS power of attorney. He will put your mind at ease.

Scott Allen E. A.

Tax Debt Advisors, Inc

www.stopIRSaction.com

IRS FORM 2848

IRS Levy, IRS Problems, Tax Debt
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Regular Post
Written by Scott Allen

Will the IRS reinstate my payment plan if I default?

IRS, Please reinstate my payment plan

Yes, if it is the first time you have defaulted and you contact them as soon as you can after failing to make your payment.  In most cases you will have to bring yourself current on the payment due and the payment missed to be reinstated.

If you have defaulted more than once, and you are an employee, the IRS will likely garnish your paycheck for the monthly amount.   If you have defaulted and are several months behind, the IRS will likely require new financial information to verify the amount they want you to send in each month.  This can be a good thing.  If you have been unable to make your monthly payment because your income has gone down or an allowable expense has increased, the IRS will reduce your monthly payment accordingly.

There are some situations when strategically defaulting on a payment plan should be done to reduce your payment.  If you are considering this, you should make sure your actions will improve your resolution of the tax debt.  This would be a good time to have a consultation with a resolution specialist. Scott Allen EA is located in Mesa Arizona and you can schedule an in person or phone appointment to discuss your specific situation.

Scott Allen E. A.

Tax Debt Advisors, Inc

www.stopIRSaction.com

 

IRS Problems, IRS Tax Payment Plan, Tax Attorney Arizona
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Regular Post
Written by Scott Allen

GET IRS OFF MY BACK – How long after I get a notice from the IRS will they take action?

Can I get the IRS off my back?

It depends upon the type of letter you get.  Generally, most letters from the IRS give you 30 days to take some corrective action before the IRS will lower the boom.  Many letters mention 10 days.  This usually means you have 10 days to pay the amount due or additional interest or penalties will be added to the balance.  Clients read the words 10 days and stop there.  If they read further they would read that they have 30 days in most cases to take action.  But even though the IRS can take action in 30 days, it may be much longer before they actually do.  However, it is a poor bet to take any chances.  If you are uncertain as to what should be your next step, seek the advice of an IRS resolution specialist.  Call Scott Allen EA of Mesa Arizona at 480-926-9300.

Scott Allen E. A.

Tax Debt Advisors, Inc

www.getirsoffmyback.com

 

BACK TAX RETURNS, IRS Problems
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Regular Post
Written by Scott Allen

ARIZONA TAX PROBLEMS – Wage Garnishment Defenses?

Arizona Tax Problems in Mesa

The best ways to stop a wage garnishment depends on the situation.  Here are some suggestions.

If you agree with the balance owed and have the ability to pay it off or make monthly installment payments, the wage garnishment will end.

If the wage garnishment is because of a reason due to identity theft and you are being taxed for income that you didn’t earned (someone illegally used your social security number for income reporting purposes) it is best to go directly to the taxpayer advocate office and explain the situation.

If the wage garnishment will put you out on the street and create an undue hardship, file a form 911, taxpayer assistance order, to get the amount of the garnishment reduced so that your basic necessities to sustain life can continue.

If you disagree with the taxes owed or the reasons why a wage garnishment was taken, you should file for a collection due process hearing and take you case to the Appeals office.

If you have a job that is not that important to your career or support and can get another similar job, quit and take another job.  It will take several months or longer for the IRS to track you down.  However, I recommend you only do that to give you time to deal responsibly with IRS problem.  Procrastination is only make matters worse.  Facing your Arizona tax problem in Mesa and getting on with your life only make sense.

Scott Allen E. A.

Tax Debt Advisors, Inc

www.arizonataxproblems.com

 

IRS Problems, IRS Wage Garnishment
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