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Tax Debt Solutions for Every Tax Debt Problem

Back Tax Debt

Debt to the IRS is not something to take lightly. If no or insufficient effort is made to resolve back tax, the IRS forcibly collects the debt by using collection actions like wage garnishment, bank levy, or property seizure. To make matters even worse, the IRS charges excessive penalties and interest on tax debt, significantly increasing the amount you owe. Call us today, and let us help you reach a resolution for your IRS tax debt. Protect yourself from such IRS collection actions such as those listed further down on this page.

Federal Tax Lien

The Federal Tax Lien is the IRS' most insidious tool. Generally, the IRS places liens on tax debts of $10,000 or more. A lien is the IRS' legal claim to all your property. It is public record and seriously damages your credit score. A Federal tax lien can also damage your reputation, impair your ability to get security clearance, limit your employment prospects, endanger your professional licenses, and prevent you from receiving credit or refinancing your home. A licensed tax professional can help you work around a tax lien, and possibly get it released.

Bank Levy

Shockingly, the IRS has the legal authority to seize the funds in your bank accounts to fulfill your tax debt. The IRS can seize almost any financial account: checking, savings, retirement, 401k etc. The bank holds the funds for 21 days before sending it to the IRS. You can petition to have the funds released from the levy, but you must be able to prove that the levy would cause significant financial hardship. The assistance of tax professionals is crucial for a successful levy release; contact us today to get started!

Wage Garnishment

In a wage garnishment, the IRS compels your employer to set aside a portion of your paycheck to be sent directly to the IRS. The IRS calculates how much of each paycheck it thinks you can live on and takes the rest. The IRS' calculations are rarely generous, often leaving you with barely enough to meet basic necessities, let alone pay your other bills. In this way, a wage garnishment can cause you to spiral even deeper into debt. Luckily, wage garnishments can be stopped. Contact us today and get the help you need to stop or prevent a wage garnishment.

Delinquent Payroll Taxes

The IRS takes unpaid Payroll Taxes very seriously. Penalties for unpaid payroll taxes are severe. When a business fails to pay payroll taxes, the IRS holds personally responsible anyone and everyone within the business whose duty it was to direct the collecting, accounting, or paying of those taxes. This may include and is not limited to the owners of the business, the accounting team, shareholders, the responsible payroll service, or check writers. The IRS can go after the company's assets as well as the assets of those held responsible for the debt. Because the consequences are so severe, professional assistance is essential when dealing with delinquent payroll taxes. Call today to get the assistance you need to handle your payroll tax issues!

Bankruptcy

Bankruptcy is not necessarily a way to get rid of tax debt. In order to be discharged in a bankruptcy, tax debt must meet specific qualifications. While the IRS will cease efforts to collect the tax debt during the bankruptcy, after the bankruptcy ends, you are again vulnerable to IRS collection actions. Contact us today to see if bankruptcy is the right option for you!