Sometimes, the unexpected happens (like a pandemic) and you find yourself in a financial pinch. This can lead to late payments to vendors, a reduction in staff hours, or even a delay in paying your taxes. Unfortunately, once you get behind with the IRS, it can be difficult to catch up. Not only will you owe back taxes, but also penalties and interest. If you owe the IRS and can’t pay, help is available. At Tax Defense Network, we offer many tax debt resolution services, including:
If you are unable to pay your taxes in full, an installment agreement may be an option. This is essentially a payment plan that allows you to pay off your tax debt over time. Although interest will continue to accrue until the debt is paid in full, penalties will be reduced and collections actions will cease.
Offer in Compromise
In some cases, if the IRS doubts that it will be able to collect your tax debt in full, we may be able to negotiate and lower your tax liability. Requesting an Offer in Compromise is a lengthy process, but it can save you quite a bit of money when it’s successful.
Currently Not Collectible
Is your business in serious financial trouble? We may be able to suspend collection of your back taxes by placing your account in a “currently not collectible” status. Once your financial situation improves, you should be able to set up a payment plan with the IRS to resolve your unpaid taxes.
If you owe the IRS, it’s important to act quickly. A federal tax levy may be issued if you do not address your unpaid taxes. This means the IRS will not only seize your business bank accounts, but they will also garnish/levy your accounts receivables. Don’t wait. Get help today!
Small Business Tax Audit Help
There are two words that can strike fear in the heart of any small business owner – tax audit. If you recently received a letter from the IRS, don’t panic. Tax Defense Network is here to help. Our licensed tax professionals will represent your business before the IRS and work to mitigate potential damages.
One of the best ways to avoid a tax audit is to enlist the services of a professional bookkeeper and stay up-to-date on your taxes. Tax Defense Network offers affordable small business tax preparation, as well as bookkeeping. Be sure to check out our payroll tax service, too.
Tax Defense Network
“I never intended to fall behind in my taxes and the longer I was behind, the harder it was to ask for help. Discussing back taxes is difficult and embarrassing, but [Tax Defense Network] made me feel comfortable and relaxed. I felt a huge weight lifted from my shoulders. My biggest regret is that I didn’t do this 3 years ago.”
— David P.
Tax Debt Resolution FAQs
Q:How much does tax debt resolution cost?
Each client’s case is unique. After your initial free consultation, our tax experts will create a customized tax resolution plan that will give you the best possible outcome. At that time, we’ll review your options and the cost of those services.
Q:Do you offer payment plans?
Yes! Most clients are eligible to take advantage of our easy and affordable financing options.
Q:How long does the tax debt resolution process take?
On average, most of our clients’ cases take between six to twelve months to resolve. Once we’ve determined the best options to resolve your tax debt issues, however, a more definitive timeline will be provided.
Q:Can the IRS seize my business and/or personal assets?
Yes. If you do not address your unpaid takes, the IRS will take steps to seize your property and/or wages to satisfy the debt.
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