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Tax Consultation Services

U.S. Expat Tax Services

We offer an extensive choice of expat tax services; We specialize in Federal tax return preparation for Americans living abroad, foreign green card holders and those who have recently repatriated to the US.  As well, for those expats for whom a state return is required, we will file a state return as well as offer advice on residency changes.

We offer Streamline filing for those expats who are remiss in their US tax filing.

Consultations                   

IRS letter review & representation

reviews of prior year returns

amendments

expatriation

residency audits

Tax Debt and Delinquent Filings

Business Tax Returns

Small business tax return preparation and filing instructions is a core service offered to our clients. Whether your company is a C corporation, S Corp, Limited Liability Company, Partnership or Sole Proprietor a properly prepared tax return can be filed to minimize the tax owed. Over the years, 100's of small business Federal and State tax returns have been prepared for both service and manufacturing company clients.

IRS Audit Representation

Are You Being Audited by the IRS? 

 

Have you received a letter or notice from a tax agency and don’t know what to do next?  The response you need to provide might be simple, or it might be very complex. We can help you interpret what the IRS is asking for so you can respond to the letter appropriately and put this behind you. 

 

An IRS letter can be triggered in several situations: 

 

  • The agency notices a discrepancy on any of your tax returns and needs an explanation.
  • An amount paid is short or over what the IRS or another tax agency calculates as due.
  • You have been selected for an audit.
  • You miss a payment deadline for taxes due. 
  • You miss a deadline for filing tax returns.
  • You fail to respond to previous correspondence.

 

Please note: The IRS will never send you an email about any of the above situations. They always send physical letters.  If you get an email, it’s a scam.

 

If it’s a discrepancy letter or balance due, the response can be fairly simple to craft and send. It’s always a good idea to get a tax professional to review or develop any response you need to send to the IRS. 

 

If you’re being audited, you will need to get ready for your meeting. The IRS officer has probably asked for certain records.  A tax professional can help you get ready and can guide you as to what you should be willing to provide to the IRS and what you shouldn’t. One example is if the IRS asks for your QuickBooks file or online access and you have several years of data in there. You only want to provide the IRS officer with the year in question; otherwise you’ll open yourself up to more scrutiny than you want. 

 

An audit can be extremely nerve-wracking.  You can get relief by having a tax professional on your side, walking you through the entire process. 

 

Getting Help

 

We’ve represented taxpayers with audits before the IRS, and we can help you, too.  We can:

 

  • Respond professionally to any IRS correspondence you receive
  • Contact the IRS on your behalf so that you don’t have to face them directly
  • Represent your case before the IRS
  • Fight for you on issues that come up, such as positions taken on tax returns
  • Escalate your issue to other remedies if the solution feels unfair or extreme

 

Support for Surviving Your IRS Audit

 

Contact us at no obligation to you so we can help you navigate the IRS audit process to a satisfactory outcome.  Your tax audit is handled with the utmost confidentiality and privacy.

 

 

 

 

Tax Debt Resolution

Do You Owe the IRS Money That You Can’t Pay? 

 

It can happen by accident. You may not have withheld enough from your paycheck in the past year and wind up with a whopper of a tax bill in April. It could be you came into some money, spent it, and didn’t realize that a big chunk of it was owed to the IRS in taxes. 

 

If your debt has been piling up for a while, it can be overwhelming and extremely stressful. You might feel stuck or frozen, not knowing what you should do or how you are going to get out of your situation. But the worst thing you can do is nothing. The penalties and interest just keep adding up, sinking you further and further into trouble.

 

The IRS takes their money seriously! They will seek every legal way to collect the money they are owed. They can seize your assets, freeze your bank account, garnish your paycheck, and even restrict your passport.  They can file levies and liens on your property. We hope this hasn’t happened to you yet, but it will if you don’t act fast enough. 

 

Failure to Pay Taxes

 

If you owe money to the IRS but can’t pay, there are several options available to you depending on your circumstances. One of the most important things is to start paying you current taxes first. You must be all caught up with filing your income tax returns and paying your current taxes before most of these remedies are available to you.

 

Here are some of the options the IRS provides to taxpayers who owe money.  Whether these are applicable to you depends on your circumstances.  

 

  1. Installment plan

 

This is where you work out a payment arrangement with the IRS.  There are several forms of agreements, including regular, partial-pay, and streamlined.  Which one you should use is highly dependent upon your current financial situation and the amount you owe. 

 

  1. Offer in compromise

 

An offer in compromise is where the IRS agrees to accept less than the full amount owed.  The IRS does not have to accept an Offer, but if the Offer is presented so that it meets the IRS guidelines, it increases the chance that the IRS accepts the Offer to resolve the outstanding balance.

 

Not all tax professionals know the ins and outs of preparing an Offer that has a good chance of getting accepted.  It’s important to look for a professional who has an excellent track record of getting Offers accepted by the IRS. 

 

 

  1. “Currently Not Collectible” status

 

This status allows you to defer your debt.  The debt does not go away; you still owe the IRS money. But you’ll stop the process of getting your bank accounts levied or other collection efforts if you are granted this status.  This often happens when you don’t have enough income to cover your current living expenses. Once your income rises, the IRS will re-evaluate your situation. 

 

  1. Bankruptcy

 

Bankruptcy can be extremely useful to stop IRS collection efforts, potentially discharge income taxes that are old enough, and force repayment plans on an otherwise unwilling IRS.  Tax penalties may also be discharged through the bankruptcy.  Since this is such a complex area, your best bet is to consult with several professionals – an accountant, a tax resolution professional, and an attorney that is expert at bankruptcy issues. 

 

Getting Help

 

A tax resolution professional can help you:

 

  • Respond professionally to any IRS correspondence you receive
  • Contact the IRS on your behalf so that you don’t have to face them directly
  • Represent your case before the IRS
  • Get you caught up on filing back tax returns that are late
  • Understand the IRS Collections process and your rights
  • Negotiate penalties, interest, and taxes due to lower your debt
  • Work out a payment plan on any money you owe to the IRS
  • Fight for you on issues that come up, such as innocent spouse situations or positions taken on tax returns
  • Help you get levies and liens removed from your assets. 

 

Solutions for Resolving Your IRS Debt

 

Contact us at no obligation to you so we can understand your specific tax situation and provide advice on the options available to you.  Your tax issue is handled with the utmost confidentiality and privacy. 

Send Us a Message

We would love to hear from you!

505-226-1735 Fax: 815-717-9471 doug@specializedtaxresolutionservices.com

Get clarity on your tax and accounting situation