Carter Vest Tax Attorneys assists business owners and individual taxpayers avoid or resolve IRS or State tax problems. We understand that entrepreneurs get so focused on growing a new or current service that they in some cases lose concentrate on the administrative stuff, like preparing or submitting tax returns. Despite how you feel, all is not lost. You are not alone, and you are most likely not a bad person. Nevertheless, it would be best if you took action now to fix your tax issues.
There is no better time than today for you to come out of the tax financial obligation fear, face the music, and get this looked after at last. The IRS desires your money, not your life, limbs, or liberty. You have spent long enough with your head in the sand, losing sleep, and stressing over the IRS garnishing your incomes, imposing your bank account, or submitting a Notice of Federal Tax Lien versus your house and other home rights.
Carter Vest Tax Attorneys has the understanding and experience you need to get your tax matter solved. Our tax lawyers have years of very first hand experience and insight, which allows our group to direct you through IRS tax audits and tax collections cases. Our Law Firms dedication to life time learning manages our customers to understand:
(1) How they entered into tax difficulty,
(2) What steps are essential to get out of tax problem,
(3) Actions and strategy you can use to avoid future tax issues.
We just deal with customers who are ready to move forward with ending their tax issues. We focus on our customers' benefits above all else. We will supply self-help suggestions and guidance to all potential customers.
We can also assist you fix the following tax matters:
Carter Vest Tax Attorney is a tax resolution and tax law office providing personal and business tax issues representation and guidance to taxpayers. Call our workplace today to set a consultation for a virtual meeting to discuss your tax matters.
We are devoted to making the tax audit process as stress-free as possible for you. We will represent you throughout the entire IRS examination process so that you can manage your other business.
Offers in compromise are not suitable for lots of taxpayers however are a powerful option for lowering tax liability for the ideal tax circumstances. We can encourage and help you with this probable tax resolution choice.
IRS tax debt might appear frustrating to numerous taxpayers. We can help you obtain an Installation Contract with budget friendly payments so you can begin to get rid of the dark cloud of tax financial obligation and move forward with a fresh start.
Tax concerns can impact your organization's success. Every company owner needs to understand the tax implications of the options they make. We can provide the guidance you need to make knowledgeable service options.
Wage garnishments, liens, and bank levies can all take a drastic toll on your finances. Through proactive representation, we can assist stop IRS collections. We supply IRS collections representation and recommendations to resolve your tax financial obligations and supply the relief you require.
The IRS acknowledges that not all tax financial obligations, assessed versus a joint income tax return, are both partners' fault. If your spouse caused your tax difficulties, we might assist you pursue Innocent Spouse Relief. We help you comprehend innocent partner requirements and guide you through the process to acquire innocent partner relief.
Haven't filed your income tax returns and are wondering exactly what the IRS can and will do to you. This depends upon your earnings, your filing status and your age. First you need to discover exactly what the IRS thinks you owe and for what years. Our attorneys will discover all this and get your returns filed properly getting you all the deductions you deserve.
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Do not face the risk of an IRS audit or IRS collections actions without an experienced representative who understands the IRS.
When you owe money to the IRS, you can’t escape the debt. You have heard the horror stories about the IRS garnishing wages, levying bank accounts and even seizing assets to cover an unpaid tax bill. If you find yourself in this situation, you do need the immediate help of a qualified tax professional. Navigating the IRS collection process can be a daunting task for even the most qualified accountants. Our professionals have years of experience and detailed understanding of the IRS collection process and solving IRS problems, even for those who owe significant amounts of money in back taxes. Call to speak with a qualified professional now at (855) 705-5414.
You may be able to settle your tax debt for less than you owe, and in fact, the IRS has recently made it easier for taxpayers to do just this, with less stringent requirements, and greater allowance for expenses.
But even once you solve your tax debt and other tax problems, can you keep them from happening again? With proper planning, you’ll be able to turn tax season into the time of year you anticipate rather than dread.
1) Update Your W-4 Form. Submitting an updated W-4 form to your employer ensures the proper amount is withheld from your paycheck. Underpaying your taxes throughout the year can lead to an unpleasant surprise when you prepare your return. If you go through a divorce or you alternate claiming a dependent, you want to make sure your W-4 reflects the changes for the year. It is always better to overpay than to underpay. Any amount you pay in excess of what you owe is refunded when you file taxes.
2) Quarterly payments for the self-employed: If you are self-employed, it is imperative that you pay estimated quarterly tax payments. You should be paying at least what you owed in the prior year, or 90% of what you think you will owe this year. Not doing so can result in large tax liabilities for those who are self-employed, as well as substantial penalties for failure to make estimated tax payments. Our office can assist you in making sure you follow these requirements properly.
3) Deductions and credits reduce your taxable income: There are a variety of deductions you may not even realize you are entitled to declare. If you recently upgraded your home to make it more energy-efficient, you may be eligible to report a portion of the cost and installation fees. Students can receive credit for tuition and education expenses by claiming the Hope Credit or the American Opportunity Credit. If you lease a car that you use for work, you can deduct a portion of the lease payment. Taking advantage of all possible deductions and credits can significantly lower your tax bill.
4) Records and receipts: If you are self-employed or claim certain deductions, it is important to keep records and receipts. Although you are not required to submit documentation along with your tax return, you will need to supply the information if you are audited. Without documents to support your income or deductions, you could find yourself unable to claim the income or deductions.
There are other legal tax saving measures you may be completely unaware of! We will work with you to help maximize your tax savings and avoid penalties and interest in the future.
In 2012, the IRS, for the first time in many years, announced a significant easing of the Offer in Compromise rules that allow qualified taxpayers who cannot pay their past tax debt to settle that liability for less than they owe.
Do You Qualify? Find Out Now. Call us at (855) 705-5414 for a free consultation.
Our attorneys estimate that more than half of the people who could not qualify for a settlement under the old IRS rules, may now be able to settle their tax debt for less than they owe under the new IRS guidelines. In some instances the amount required to settle could be reduced by as much as 75% compared to the old rules.
The recently announced IRS changes to the Offer-in-Compromise program which could affect your ability to settle include:
In addition to lowering your settlement based on income, the IRS made numerous technical changes which could reduce their estimation of the value of your vehicles and business assets used to evaluate your offer. This could further reduce your settlement. Many people now qualify for the settlement program who never before would have.The IRS now recognizes state tax installment agreements, student loans, and limited payments on credit cards for determining your settlement amount. They’re finally integrating some real world, common sense to the Offer in Compromise program.
The IRS made numerous other technical changes, all of which improve your chances for a reduced settlement of your tax debt.
If you can’t pay your tax debt and would like to end your IRS nightmare now, there has never been a better time in the history of the IRS Offer in Compromise program than now. Contact Carter Vest Tax Attorney for a free consultation to see if you qualify. Just imagine what it will be like to finally deal with your tax debt! Call us at (855) 705-5414.