Federal and State Audit Representation for California Taxpayers

When you owe back taxes, a bank levy makes it possible for the IRS to take cash from your bank account. Usually, this will happen only after the following three conditions are met:

• A tax bill for the total amount owed was submitted to you (Notice and Demand for Payment);
• You have disregarded or declined to pay the bill; and
• A Notice of Intent to Levy (CP90) was issued

Once your bank receives a levy notice, all funds in your account will be frozen for 21 days, beginning on the day your bank receives the notice. You won’t be able to use the account or withdraw funds for the duration that the levy is in effect. If the levy is not issued within 21 days, your bank will forward the funds in your account to the IRS (up to the sum that you owe).

Paying off the entire debt is the easiest and safest course of action. This will immediately release you from your obligation to the IRS and/or the State, and the bank levy will no longer be needed.

However, you will end up paying even less than you will have to pay if you act before the levy is issued.

To see whether you qualify for some form of tax relief, such as a payment plan or a lower payment for the total debt, please contact us today. Do not wait before the worst comes, act now!

If you are under threat or currently experiencing IRS lien and levy collection actions, please contact me immediately! There are several possible options to stop or release such actions. My analysis will attempt to qualify you based on your financial information and additional facts and circumstances.

Federal tax lien: A legal claim against all your current and future property, such as a house or car, and rights to property, such as wages and bank accounts.

Notice of Federal Tax Lien (NFTL): A public notice to creditors. It notifies them that there is a federal tax lien that attaches to all your current and future property and rights to property.

Levy: A legal seizure of property or rights to property to satisfy a tax debt. When property is seized (“levied”), it will be sold to help pay your tax debt. If wages or bank accounts are seized, the money will be applied to your tax debt.

Being in debt is never a fun place to find yourself in. Especially since you only have two choices, dealing with the IRS or jail. It’s a painful process that can end badly without the help of a professional.

The IRS has several ways of getting you to pay them back. For example, they may subtract a portion of your paycheck to pay off your loan. The IRS will deduct up to 75 percent of your earnings until your debt is paid off, even if you don’t have enough money to spare from your paycheck.

This is called wage garnishment. It’s when an order is enforced by a judge requiring your employer to withhold a certain amount of your wage and return it to the individual or institution you owe money to before your debt is paid off. They are entitled by statute to receive a large portion of your paychecks until a wage garnishment is issued, no matter how much you plead with your boss.

We can resolve this issue for you. Your freedom is our goal, and we will fight to get you out of this situation. Call Elite now!

If you are under threat or currently experiencing IRS lien and levy collection actions, please contact me immediately! There are several possible options to stop or release such actions. My analysis will attempt to qualify you based on your financial information and additional facts and circumstances.

Federal tax lien: A legal claim against all your current and future property, such as a house or car, and rights to property, such as wages and bank accounts.

Notice of Federal Tax Lien (NFTL): A public notice to creditors. It notifies them that there is a federal tax lien that attaches to all your current and future property and rights to property.

Levy: A legal seizure of property or rights to property to satisfy a tax debt. When property is seized (“levied”), it will be sold to help pay your tax debt. If wages or bank accounts are seized, the money will be applied to your tax debt.

You can settle your debt with the IRS for much less than what you actually owe.

The Offer In Compromise (OIC) program allows taxpayers to negotiate with the IRS on incorrectly calculated tax liability or liabilities they can not afford to pay. It’s basically an out-of-court agreement that gives you the option of paying a lower amount of your debt relative to what you actually owed.

Some people can not qualify for an OIC, so before taking action, it’s best to consider other tax relief options. We can help you determine whether you qualify for an OIC or for various payment options.

The most common way for taxpayers to pay their unpaid tax debt is to have an Installment Plan. This is an arrangement between the taxpayer and the IRS to pay the commitments in monthly installments for a definite period of time. However, interest or late payment fines are not precluded by an Installment Plan.

There are 5 types of IRS Installment Agreements that make it a little less awful to deal with back taxes:

• Guaranteed Installment Agreement
• Streamlined Installment Agreement
• Installment Agreement for Tax Debt of Over $50,000
• Partial Payment Installment Agreement
• Settlement Agreement (Offer in Compromise)

Each form has very specific criteria for you to qualify. You’re going to need an expert by your side who is aware of the process.

No one said that paying back taxes would be simple and It is no simpler to negotiate with the IRS. If you’re stuck in this sticky situation, you can rely on Elite to help you out of it!

There is nothing worse than failing to file your taxes. While there may be valid reasons why you have failed to meet the tax deadline, the IRS will take no excuse and enforce tax penalties. Even if you filed and paid on schedule, there might be penalties if your return included errors or your payment was refused.

Good thing the IRS provides tax liability relief for those who have been unable to pay their taxes due to unforeseen circumstances and other reasons. One tax penalty relief you can acquire is a penalty abatement.

To qualify for the first-time penalty reduction, you have to satisfy the following conditions:

• For the past three tax years prior to receiving the penalty, you have no fines or you have not been asked to file a tax return;
• All of your required tax returns have been filed or you have requested an extension, and
• You paid your taxes in full or made arrangements to pay your tax obligation (payment plan)

Our team of tax professionals can assess your situation and check if you qualify for this IRS arrangement.
Lack of resources is usually not a basis for a waiver. The reasons why you don’t have enough money, however, can satisfy the requirements for the fee waiver.

Our experts will work with you to verify whether the following are included in your reasons for failing to file on time:

• Reasonable Cause
• An IRS error
• Litigation Hazards
• Statutory Exceptions
• Administrative Waiver

Call Elite now to get help! Don’t let your fines pile up and drown you in debt!

IRS audit representation refers to a tax or legal professional working to address an audit on your behalf. Via the Power of Attorney (POA), they have the legal right to assist with the paperwork, discuss your case with the taxing agency, and attend audit meetings. A registered elector, certified public accountant (CPA), or lawyer is a participant in the majority of cases.

Employing a professional to assist with your tax audit will always be the best option for you. While there might be some crises you can deal with on your own, it is typically not recommended that you take on an audit by yourself.

Working with a professional will help you:

• Identify problems with the audit
• Process documents and paperwork
• Negotiate a tax debt proposal
• Protect your interests as a taxpayer

Along with our other services, we offer IRS audit representation nationwide. Our experts will work to find the right solution for your case. You should know that when it comes to responding to an audit, time is critical. Stop wasting time, call Elite Tax Resolutions now!

Under the rules of the Internal Revenue Service, not filing your income tax return is not only expensive but illegal. Harsh fines are levied on individuals and corporations who do not register or pay their taxes. Some people opt not to file because they are not willing to pay what they owe. However, not filing will make it much worse than knowing that you owe taxes and working out an IRS arrangement.

Failing to file will result in a substantial amount. The normal failure to file a penalty is 5% per month on the total tax obligation owed when no fraud or negligence is involved.

This penalty starts on the day after the due date of the tax return. When fraud or negligence is involved, the rate jumps to 15%. Even if you have not filed in years, we suggest that you start now.

The first thing you need is to get assistance from tax professionals. Each case is special, and you will need someone to help you navigate through this process.