Many
people contemplating filing bankruptcy also have
state or federal tax problems. Most have
no idea that perhaps their bankruptcy can absolve
them of liability for their tax debts as well.
Using the bankruptcy laws to discharge income taxes
is one of Larry's specialties. So,
if you are thinking of filing bankruptcy but
ALSO have tax debts, talk to Larry about this
too. Timing is everything when it comes
to discharging taxes and if you file too early,
well ... it's too late then. Don't
make THAT mistake.
Unfiled Tax Returns
For various reasons, some taxpayers don't file their
tax returns. Failure to file a single year probably
isn't a problem. Contact an accountant.
Failure to file a return for a number of years could
be serious. Willful failure to file tax returns is
a felony:
- Punishable by up to 5 years in federal prison
and
- A $100,000 fine
- The government looks for 3 year non-filers
(among other factors)
Even if your case does not have criminal implications,
there are other issues:
- How many returns do you file?
- What if you don't
have any records to prepare your returns?
- Should
you file jointly?
- Can't find your W-2's or 1099's?
We know the answers and we can help solve your problems!
Once
the returns are prepared:
- Will you be facing a huge
tax debt plus penalties and interest?
- Can you pay
it?
- Should you submit an offer in compromise?
- Can you
make payments?
- Does bankruptcy help?
- Are there timing issues with
any of these plans?
Large Tax Debts
Probably the most common tax problem
people face is unpaid tax debts that mount quickly
with penalties and interest into an amount that soon
becomes impossible to ever pay! Worse, the IRS is the
most powerful and relentless debt collector in the
world. As a result, people can't sleep, they can't
perform at their jobs, marriages are strained and,
at times, people can become despondent.
What can be done?
- Establish "reasonable cause" for
filing late
- Installment agreement until the statute
of limitations expires
- Filing of a good offer in
compromise
- Tax bankruptcy
Tax Problem Solver, Inc. will discuss these and other
options at your initial "gameplan" consultation.
Audits, Appeals, Litigation
One of our favorite areas
of work is representing individuals and companies during
an IRS or state Department of Revenue audit. The staff
of Tax Problem Solver, Inc. has many years of experience
to make them eminently qualified to represent you with
your tax problem.
- Often hired after being audited to appeal the auditor's
decision
- Appeals and U.S. Tax Court require extremely
high level of experience and knowledge for effective
representation
- Tax audits, tax appeals and tax litigation
necessarily involve extensive knowledge of the tax
laws as well as the procedural requirements to be
heard at various levels
- Jim Reagan retired after a 33-year
career with IRS, half of which was spent as an auditor,
a group manager, and as an employment tax specialist.
The other half was spent as an IRS Appeals Officer
in the Tampa Appeals Division.
- Shirley Johnson had
a 12-year career with IRS and has the unusual combination
of having worked as both an IRS agent examining returns,
and as an IRS revenue officer collecting unpaid taxes.
- Larry
Heinkel (owner and consultant to Tax Problem Solver,
Inc.), is an attorney with more than 25 years experience
in handling tax problems at all levels
- We can represent
you anywhere in the United States.
For more information on Tax Problem Solver, please
visit: www.taxproblemsolver.com
