This year’s April 17^th deadline to file tax returns is quickly approaching but the Internal Revenue Service is reminding taxpayers that they can get a tax filing extension if they need more time to complete returns. Most people can get an automatic six-month extension to file returns by using the Free File link on the IRS website. By using this free service to file Form 4868, taxpayers will receive an extension to file until October 15, 2012 and avoid a late-filing penalty. It is important to keep in mind that the extension is only for the time to file, and not the time to pay. Tax liabilities are still due by April 17^th, 2012, and any unpaid amount due will be subject to penalties and interest

If you are a taxpayer that is having difficulty paying what you owe, be sure to check out the Fresh Start initiative that offers penalty relief to unemployed and self-employed taxpayers whose income has dropped. Penalty relief will be available to those who have been unemployed for at least 30 consecutive days in 2011 or up until April 17^th 2012, as well as to self-employed individuals who have experienced a 25% or greater drop in business income due to the economy.

Penalty relief is restricted to taxpayers whose balance due for the calendar year 2011 does not exceed $50,000. Furthermore, a taxpayer’s income must not exceed $200,000 if filing as married filing jointly and must not exceed $100,000 if filing as single or head of household. To seek the penalty relief, qualifying taxpayers should fill out Form 1127A at IRS.gov.

If you are a taxpayer facing back taxes or large tax liabilities that you cannot pay and you need representation contact Larson Financial. Larson Financial Tax Resolution Specialists offer personalized solutions for tax debt. We specialize in IRS and State Collection Division representation and can help take the guesswork out of dealing with taxing authorities. As a family owned and operated firm, we pride ourselves in giving our clients the individual attention that is necessary to find custom solutions for tax needs. Contact Larson Financial now at 888-589-0955 or find us online at www.larson-financial.com.

Many types of taxes have a statute of limitations where government taxing authorities have a limited time to collect the debt before they lose their ability to collect them at all. A partial pay installment agreement can result in large savings for many taxpayers. Larson Financial has been an industry leader in achieving arrangements with the government that allow our clients to pay what they can afford on a monthly basis until the statute of limitations runs out on their debt.

Larson Financial recently had a client that owned a hair salon and was facing major tax issues. The taxpayer owed the Internal Revenue Service approximately $105K. After providing full financial information for the business, the team at Larson Financial was able to establish a partial pay agreement with the IRS for $500 per month. We also conducted the trust fund interview with the Revenue Officer for the owner of this business and were successful in negotiating the assessment of the trust fund of nearly $50K and having it placed into a hold status and cross referenced to the business installment agreement. 

As always, Larson Financial is the place to turn when you are facing back taxes and need representation that you can trust. We provide honest, personalized solutions for tax debt. Collection division representation is our specialty and we take the guesswork out of dealing with the collections divisions, allowing our clients to concentrate on running their businesses. Contact the tax resolution specialists at Larson Financial today at 888-589-0955 or online at www.larson-financial.com.

Larson Financial recently helped a client that operates as a small construction company. The owner is currently undergoing intense chemotherapy treatment.  Even though his Revenue Officer initially wanted him to close the business, we were successful in negotiating uncollectable status for his more than $100,000 in IRS tax liability due to his medical condition and current financial condition of the business.  This is a huge success and goes to show that the IRS does have a heart when the right representation is in place.

With thousands of successful resolutions, Larson Financial helps clients in all 50 states. We strive to save our clients money, time and stress. To discuss your options for personalized tax resolution services, contact Larson Financial now at 888-589-0955.

With their standard of exceptional customer services, Larson Financial has been helping businesses and individuals resolve their back tax issues for the past 7 years.

A California agriculture company had a tax liability of $97,000.  The client wanted an Installment Agreement with the IRS for the business and no personal tax liens or personal assessments.  We were able to negotiate a partial pay IRS Installment Agreement for the business and no immediate personal assessments or lien filings, if the business stays on the agreement.  This will allow the client to make specific payments to pay down the personal side of the liability when they desire, while the business makes payments.  No personal liens were filed.  The business will now be able to operate and the owners will be able to utilize personal credit without lien issues.

Westminster, CO – March 15, 2012 – As a family-owned and operated company, Larson Financial is always thankful for the neighbors, organizations and community members that help make small businesses sustainable in today’s economy. In an effort to give back to those that help make our area a wonderful place to work and live, Larson has continued their support of the Association of Colorado State Patrol Professionals for the 4th year.

The Association of Colorado State Patrol Professionals is a membership organization made up of active and retired employees of the Colorado State Patrol (CSP). The ACSPP has served its members since 1942, providing benefits and protective features that are not supplied by the State Patrol.  Larson recognizes the importance of promoting and maintaining a positive image of the Colorado State Patrol and is proud to support its members and families.

Larson Financial is a family owned business with 100 dedicated tax professionals including attorneys and Enrolled Agents whose sole mission is to resolve back tax liabilities. We have an “A” rating with the BBB and are a respected part of our business community. Over the past 6 years we have helped over 7,000 businesses with their back tax issues.