Information on tax problems and tax debt help
21
Feb
Levies are issued against bank accounts, accounts receivables, wages, and other sources of income when there is a delinquent tax liability. Levies are usually issued under a circumstance whereby the client is not current or compliant, misses a deadline, or misses a payment on an installment agreement. When one of our clients is levied, usually [...]
30
Jan
Westminster, CO- January 30, 2012- Larson Financial has initiated a partnership program with tax professionals across America. In this economic environment, businesses are facing multiple challenges to stay operating profitably and keeping their doors open. One of the big obstacles is what to do when they fall behind on State and Federal tax deposits. The [...]
14
Dec
The purpose of this post is to advise my client’s, prospective client’s, and other professionals on how to deal with the State Taxing Authorities. Most State Authorities operate without efficiency, they are understaffed, underpaid, and overworked. Therefore, their objective is to collect the outstanding amount owed as quickly as possible by way of levy, garnishment, [...]
13
Dec
We have had to revisit installment agreements for various different reasons. A few reasons have been for lack of payment, accrual of additional taxes, failure to remit timely payments, and so forth. What is important to remember is the installment agreement usually can be reinstated rather quickly. The appropriate and following steps must be taken: [...]
12
Dec
If you own a business, operate a business, or have ownership percentage in a business, beware of the repercussions it could cause with regard to a personal Offer In Compromise. A personal Offer In Compromise under doubt as to collectibility, or effective tax administration is an offer to settle the outstanding amount owed for any [...]
The information provided on this Site is for general guidance and to offer the user general information on particular subjects of interest. It is not intended to constitute legal, accounting, tax or other professional advice or services. To the extent that this Site concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law.