In most cases, tax resolution begins with the IRS or the state sending collection or notice letters of intent to levy. This means that the IRS or the state is threatening to seize the assets of the taxpayer. If you are dealing with back taxes in Idaho, the tax resolution process begins by having a tax professional analyze whatever situation you happen to find yourself in.
It is important to note that before any resolution can begin, the taxpayer has to be compliant. This means that all back tax returns need to be filed.
For resolution to occur, the taxpayer also has to be current with all required estimated payments. If these two requirements have not been met, tax resolution is generally not possible. If you have been told otherwise, you may not have been given the complete picture.
At Idaho Tax & Bookkeeping Services, we provide tax resolution services in Boise, ID for individuals and businesses dealing with IRS or state tax problems. Our team reviews the circumstances carefully before recommending the appropriate next step.
Many companies will try to charge fees without clearly explaining what is required to begin the tax resolution process. We are highly experienced in this area and have an excellent track record of resolving IRS and state tax matters. We have prevailed in 99% of the cases we have represented. If you want to know more about what other clients have said, please read our Google reviews for “Idaho Tax and Bookkeeping LLC Boise Idaho” by clicking here.
We are here to help you, and yes we can prevent IRS Liens, Levies, and wage garnishments.
Below you will find the most common tax resolution questions that come up when trying to resolve a tax issue. If you are looking for IRS tax help for back taxes, these answers provide a useful starting point for understanding some of the resolution options that may be available.
I owe IRS money and have received a notice of “intent to levy.” How can you help me?
If you owe IRS money and cannot afford to pay the full balance, we can help. Our tax resolution services begin with assessing your situation and determining which options may be available.
Depending on your circumstances, potential resolution options may include an installment agreement, partial-payment installment agreement, currently not collectible status, or an Offer in Compromise.
An Installment is an agreement between you and the IRS to pay the balance within certain amount of time. The balance is going to be paid in full during the term of the agreement. This agreement usually lasts 72-120 months depending on the date of assessment. Usually the Internal Revenue Service has 10 years to collect from the date of assessment. The agreements for balances less than 50,000 are handled differently than the ones over 50,000. Our office would love to go into more details with you when we meet to go over your case.
An Offer in Compromise (OIC) is a delinquent tax settlement option available through the Internal Revenue Service for qualifying taxpayers. After completing the Offer in Compromise paperwork, the IRS will assess the information provided and decide whether you qualify.
An OIC is one of several IRS tax relief programs that may be considered depending on the taxpayer’s financial situation. Eligibility is not automatic, and the IRS reviews factors such as income, expenses, assets, equity, and ability to pay.
To have a strong and properly prepared offer, it is important to work with an experienced professional who understands the documentation and financial analysis involved.
There are several ways an offer may be structured depending on the taxpayer’s circumstances, and we are happy to explain them to you. For the last five years, we have handled successful OIC cases ranging from smaller balances to more complex matters and have developed extensive experience with the process.
The Offer in Compromise process is not guaranteed. However, we can guide you through the requirements, prepare the necessary financial documentation, and represent your position before the IRS.
If you receive an audit/examination letter from the state or the IRS the best thing to do is to get a professional with experience in audits to guide you through the process. You will need to get representation much like a court case to make the process as painless as possible. After our initial consultation, the first step is for us to get the power of attorneys (2848 form or State POA’s) for your tax account and we will commence communication with the auditors to advocate on your behalf. In this communication we will find out exactly what the IRS or the state is looking for. We will work with the requesting agency to determine the size and the scope of the information necessary. As we work to provide the requested information, we also work to confine and reduce the scope of the audit so that it does not take up all your time and resources.
Because of the open communication we provide, auditors will usually let us know where to focus our efforts and that will save you time and money. At that point we come up with a strategy of records presentation. Depending on the situation some records will need to be re-created, and having an audit specialist in your corner is the best way to make sure everything is completed as specified in the audit.
We have prevailed in 99% of the audits we have handled for our clients. If you are facing an audit, we look forward to talking about your specific circumstances. We fight for our clients and leave nothing to chance. An audit is not something you want to face without experienced representation.
Yes. If you have back taxes in Idaho or unfiled federal returns, we can help you prepare the required returns and work toward becoming current before moving forward with an Offer in Compromise or another tax-resolution option.
We prepare personal taxes, business taxes, trusts, estates, and nonprofit returns. Filing all required tax returns is an important part of many resolution cases, and we are here to help you through the process from filing through representation.
If you have any questions about your situation please call us at (208)608-5653 so we can discuss your specific set of circumstances and provide advice tailored to your situation.
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