Tax Debt FAQs
If you have an income tax problem – We can help you!
Income Tax Debt Relief Help
I'M IN TAX TROUBLE - WHAT'S MY FIRST STEP?
Contact an experienced tax debt relief specialist to start the planning process. Define the problem and then gather information.
WHAT ELSE CAN I EXPECT TO HAPPEN DURING OUR FIRST MEETING?
At our first meeting I will contact the IRS and New York State, define what the issues are and then stabilize the situation by getting a hold placed on enforcement action such as levies and wage garnishments. We will also gather information, such as W-2’s and 1099’s so that we may begin solving your tax problem.
HOW ARE MY FEES CALCULATED?
Fees are charged for representing you before the IRS and New York State, as well as for each year’s back tax returns that needs to be prepared.
WHAT HAPPENS IF I OWE TAXES?
If you owe taxes then as a separate engagement I can represent you to negotiate an installment agreement, get classified as currently uncollectible or and Offer-in-Compromise as applicable to your situation.
DO IRS TRANSCRIPTS CONTAIN ALL THE INFORMATION I NEED TO PREPARE MY TAXES?
Not always. The IRS has information that has been provided by to them by third parties reported on various forms 1099 or 1098 from banks, customers &, educational institutions among others.
There may be other taxable income and deductions the IRS has no record of that should be used as well when preparing your taxes. Some examples are state withholding taxes which appear on form W-2, the taxable income you may have received from self-employment that the payee has not reported on form 1099 and of course they have no idea of what your business deductions are either.
WHAT IS THE TAXPAYER BILL OF RIGHTS?
The Taxpayer Bill of Rights specifies a set of fundamental rights taxpayers have and should be aware of when dealing with the IRS.
Basic taxpayer rights as defined by the IRS are:
>> The Right to Retain Representation
>> The Right to a Fair and Just Tax System
>> The Right to Be Informed
>> The Right to Quality Service
>> The Right to Pay No More than the Correct Amount of Tax
>> The Right to Challenge the IRS’s Position and Be Heard
>> The Right to Appeal an IRS Decision in an Independent Forum
>> The Right to Finality
>> The Right to Privacy
>> The Right to Confidentiality
the IRS website found at IRS.gov explains each of these rights in detail.
AFTER I RETAIN THE SERVICES OF TAXDEBT.COM, WILL I HAVE TO SPEAK TO THE IRS DIRECTLY?
No. The IRS is prohibited from directly contacting taxpayers in person or by telephone who have retained representatives with a valid Power of Attorney on file for the tax periods specified on the form.
IS ANY OF MY CONSULTATION FREE?
WHEN CAN I EXPECT MY TAX MATTER TO BE SOLVED?
The length of time to solve a tax matter varies according to the magnitude of each case and how timely you can answer any questions we may have. Unfiled tax returns can take as little as two weeks to complete.
WHAT IF I DON’T HAVE ANY INFORMATION?
In most cases I can get nearly all the information I need to complete you case directly from the IRS. You may need to have social security numbers of dependants and certain other information so we may get your tax liability to the lowest legal amount.
HOW DO I START?
HOW DO I QUALIFY FOR AN INSTALLMENT AGREEMENT TO PAY MY OVERDUE TAX LIABILITIES?
First, the income tax return filing must be up to date. At that point, the IRS may require a collection information statement to determine how much you can afford to pay each month. In some cases, if you propose a minimum monthly amount that meets their criteria, all that paperwork can be avoided and an installment agreement can be arrived at quickly.
IF I PROVIDE MY REPRESENTATIVE A POWER OF ATTORNEY, WHAT DOES THAT ENTITLE THAT PERSON TO DO?
The Power of Attorney form 2848 only provides your representative the authority to represent you before the IRS
regarding tax matters such as inspecting confidential tax information, signing agreements, consents, waivers or other documents with respect to matters described in the power of
attorney. The Power of Attorney DOES NOT authorize representatives to endorse or otherwise negotiate any check issued by the
government. Additionally, unless specifically provided in the power of attorney, this authorization does
not include the power to substitute or add another representative, the power to sign certain returns, or the power to execute a request
for disclosure of tax returns or return information to a third party.
