Back taxes Frederick MD, Bethesda or Rockville? Maybe we have a solution for you. In 2012, the IRS announced a program to help U.S. citizens resolve their filing obligations. And the program would allow taxpayers who owe little or no tax to avoid penalties and audits. Relatively new, the program was first launched in September 2012 and the IRS hasn’t said when it will end. Further, the program also allows you to make late elections to defer U.S. tax on earnings you might have from certain foreign retirement arrangements. This is just one of several ways that we can help you resolve back taxes solve problems with IRS audits.
Has the IRS has finally caught up with you, then those old back tax returns you didn’t file prompted their attention. They are demanding your back tax returns. In the event that you do not file them, they will prepare them for you, and you will not like the results. It is never too late to file back taxes. However, there are tax laws for filing late tax returns.
There are issues such as how to locate missing tax documents, and how to handle IRS penalties and interest. To file your back tax returns, you will need the W-2s and/or 1099 forms you received for those tax years to report your income. You may be eligible for deductions and credits. You must pull together any receipts or other supporting records that prove your eligibility to claim them. BFS can assist by retrieving a lot of your information from various taxing entities.
You do not need to pay your full balance when you file your back tax returns. you can request a payment plan after you have filed the returns. Business & Financial Solutions can assist you with this. It is suggested that taxpayers send a partial payment when filing returns, if you are planning to request a payment plan. The IRS will want to see all returns filed before discussing a payment plan.
Business & Financial Solutions’ experienced tax professionals can help with IRS back taxes and problems associated with the Internal Revenue Services. Having a professional firm address these tax problems is a good idea. If you need advice on how to handle incomplete tax documentation, or an advocate who will negotiate with the IRS on your behalf.
Taxpayers must be compliant with all tax requirements before the Internal Revenue Service will entertain any discussion of payment plans or other forms of relief. This means that all filing requirements must be met, and any estimated tax payments for the current year must be made. Only then can we move forward with any resolution to the taxpayers’ tax problems.
There are various methods in resolving tax debts. But you should be careful. Tax relief companies use the radio, television and the internet to advertise help for taxpayers in distress. If you pay them an upfront fee, which can be thousands of dollars, these companies claim they can reduce your taxes. Or they even claim they can eliminate your tax debts. And they boast that they can stop back-tax collection by applying for legitimate IRS hardship programs. The truth is that most taxpayers don’t qualify for the programs. These companies don’t settle the tax debt. And in many cases they don’t even send the necessary paperwork to the IRS requesting participation in the programs that were mentioned.
Business & Financial Solutions evaluates the circumstances of any potential client. It is impossible to determine if a taxpayer meets the guidelines for programs, such as OIC, Abatement of Penalties and Interest or Uncollectible Status unless we conduct an interview for evaluation. We only take case where we believe that the client qualifies. To do otherwise would be unethical and immoral. We ask that every potential candidate be honest and forthcoming with us. We can only help if we have all the facts. The success rate that we have in resolving tax matters like this is not perfect, but ranges in the high percentile. This is only because we prequalify the client before taking any form of payment for services.
If you have decided that you want to address your past tax issues, our firm is here to help. We offer nothing but the best services for our clients, and you have nothing to lose with your free consultation. Our Rockville office is just a few miles from the Bethesda, Chevy Chase and Potomac areas. Upon accepting a case documents may be forwarded to us via, fax, email, personal delivery or U.S. postal services. We look forward to being of service to you.
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Offices located in Rockville, Vienna and Frederick.