Settle For Less | Protect Your Assets | Resolve Your Tax Problems
JP Income Tax Resolution provides many different services. We can obtain your IRS transcripts on your behalf, and determine what needs to be done to make you and/or your business compliant with the IRS. Once compliant, we can determine whether you qualify for the many relief options available to you. Also, if you are currently experiencing adverse actions by the IRS, we can help you stop the negative collection activity.
If any of the situations below apply to you, contact us TODAY for a free, no obligation consultation.
If any of the situations below apply to you, contact us TODAY for a free, no obligation consultation.
Solutions
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Offer In Compromise
An offer in compromise allows you to settle your tax obligation for a lower amount than you owe. It may be a viable choice if you are unable to pay your whole tax due or if doing so would cause financial hardship. Qualifying for an offer in compromise can save you thousands of dollars. Our team of experts can determine whether or not you qualify for this program. |
Penalty Abatement
If you owe taxes to the IRS, chances are you also owe penalties and interest on those taxes. The IRS has the authority to punish taxpayers for things like failure to file or failure to pay. These penalties accrue on top of your tax bill, increasing the amount of taxes you owe. The IRS, thankfully, gives qualified taxpayers first time relief. Most taxpayers are unaware of the first-time abatement (FTA) penalty waiver or how it might assist them to reduce their tax liability. |
Tax Preparation & Planning
In order to keep you in compliance, we prepare and submit any overdue Business and Personal Returns at the Federal and State levels. We identify tax reduction methods that best match your present goals based on your specific tax and financial position. |
Tax Problems
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Bank Levy
A bank levy is a legal procedure that permits creditors to collect money from your bank account. Your bank freezes the cash in your account, and the bank is obligated to deliver that money to creditors in order to fulfil your obligation. In order for a creditor to demand cash from your bank account, the creditor must present your bank with a request that includes documentation of a court judgment against you. |
Tax Lien
A tax lien is a legal claim made on the assets of a person or company that fails to pay taxes owing to the government. A lien, in general, helps to ensure the payment of an obligation, such as a loan or, in this example, taxes. If the obligation is not met, the creditor has the right to take the assets. |
Wage Garnishment
Wage garnishment occurs when a court determines that a certain amount of your paycheck be withheld and sent directly to the creditor or person to whom you owe money until your debt is addressed. |
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IRS Seizures
In contrast to a levy, which involves intangible assets like your bank account, a seizure includes the removal of actual assets like your home or automobile. Seizures are often used in severe situations where someone refuses many IRS demands to pay their due taxes over an extended period of time. |
Currently Not Collectible
If the IRS finds that you are unable to make tax payments, it may declare that your account is no longer collectable (CNC). 1 That is, it will not garnish your income or tax your bank accounts, and it will not compel you to enter into an installment arrangement. To qualify for this aid, you must have little or no money left over after paying your basic monthly living expenditures, such as rent, electricity, and groceries. |
IRS Audit Notification
Don't be alarmed! Even if you have received an IRS audit notification, it is not the end of the world. Less than 1% of all tax returns are chosen for an IRS audit, and the proportion is significantly lower for individuals earning less than $100,000. However, regardless of income, anybody can be chosen for an IRS audit. If the IRS notices enough red flags in your tax return, you may be selected for an audit. |
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Unfiled Tax Returns
According to the IRS, over 10 million Americans fail to submit their federal income tax returns each year. Taxpayers fail to submit their tax returns for a variety of reasons; some just postpone; others do not understand their filing need; and in rare situations, taxpayers intentionally fail to file in order to avoid their responsibility to declare their income and pay their tax liability. |
Statute Of Limitations
A statute of limitations is legislation that establishes the maximum length of time that parties engaged in a dispute have from the date of an alleged offense, whether civil or criminal, to begin legal actions. The amount of time the legislation permits a victim to pursue legal action against the alleged wrongdoer, however, varies depending on the jurisdiction and the nature of the conduct. |
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Sales & Use Tax
The state refers to a sales tax as tax collected by an in-state business. The state refers to use tax as a tax collected and submitted by a "remote seller" (i.e. someone who has sales tax in the state but is not headquartered there). We deal with both sales and use tax. For the sake of simplicity, we refer to it all as "sales tax" on our website and in our emails. If you have any sales and/or use tax issues, we can help! |
State Tax Issues
At times, state tax agencies can be more aggressive than the IRS. Because all states are not uniform with the Internal Revenue Code, an unexpected state tax issue could put you into a bad financial situation. In addition, the state tax agencies have just as much power as the IRS to lien, levy, and issue judgements against you to collect unpaid taxes. JP Income Tax Resolution can help alleviate this issues. |
Innocent Spouse
The innocent spouse rule permits a taxpayer to escape a tax liability caused by a spouse's mistakes on a combined return. The most frequent mistake includes unreported income or an overstated deduction.
The innocent spouse rule permits a taxpayer to escape a tax liability caused by a spouse's mistakes on a combined return. The most frequent mistake includes unreported income or an overstated deduction.
