Tax Services for All States
Business & Financial Solutions is a duplex accounting and tax services firm. BFS prepares income tax returns for all business entities and individuals. Further, BFS provides tax services for all states throughout the continental United States.
Past Due Taxes and Audits
Our firm assists clients with the preparation of current and past due tax returns. We also help with past tax debts with the IRS, or any state. Tax settlement services are for both business clients and individuals. Our CPAs and Enrolled Agents serve as your representation during tax audits. And your participation is minimal with the state, or the IRS. You can rest assured that the greatest efforts are put forward in dealing with government entities as they relate to your tax issues.
Business & Financial Solutions simplifies the process of filing past due tax returns. Taxpayers should file all tax returns due, regardless of whether or not full payment can be made with the return. Depending on each individual’s circumstances, a taxpayer filing late may qualify for a payment plan, negotiations for an Offer In Compromise, penalties and interest abatement. All tax solutions options require continued compliance with all filing and payment responsibilities after the plan is approved.
Delinquent returns are often more closely examined by the IRS. And for that reason, along with others, the preparation and filing of a delinquent tax return requires an extra level of care and accuracy. There are many reasons why a taxpayer may not file a tax return. However, you need to be aware that failure to file tax returns may be construed as a criminal misdemeanor. Further it could result in a potential felony charge. This type of criminal act is punishable by one year in jail and $10,000 for each year not filed.
Finally, if you fail to file a Federal tax return it will result in consequences. Or if you have unfiled tax returns you can face penalties and interest. The IRS may also impose other actions. As far as state tax consequences go, each state operates differently. But there are some similarities in the collection process. Additionally, tax liens, tax levies, and penalties are utilized by states as well as the federal government to leverage and enforce collection of past tax debts.
Visit us in Vienna VA, Frederick or Rockville, MD (Washington DC Metro Area)
4 S. McCain Drive, Suite 14, Frederick, MD 21703
17 W. Jefferson Street, Suite 2, Rockville, MD 20850
1604 Spring Hill Rd, Suite 212, Vienna, VA 22182
Phone (240) 297-1055, Fax (240) 297-1055
Montgomery County, MD
Currently serving these local areas: District of Columbia, Laurel, Cloverly, Damascus, Hagerstown, Columbia, Ft Detrick, Beltsville, Libertytown, Brunswick, Herndon, Fairfax, Tysons Corner, Vienna