Owing money to the IRS can be very intimidating. Just one little technical mistake could haunt you for years and cost you unknowable amounts of time and money.
The tax codes are EXTREMELY confusing - even for a Tax Relief Advocate in Albuquerque NM. So many Americans end up in a situation where they owe more to the IRS than they can afford. Many people end up with LARGE debts to the IRS and do not get IRS debt forgiveness. The IRS is the world's most powerful collection agency. If you are in this situation, they can do some terrifying things like take your home, empty your bank accounts, garnish your wages, and many other things that no other collection agency can do.
We promise to provide you with the relief you need to negotiate with the IRS in confidence. Your dedicated Tax Relief Advocate will create a custom resolution to fit your specific tax needs.
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We owed money to the IRS and this company was able to get us a REFUND.
He reduced my tax liability by more than 75%! I definitely recommend!
Great company, highly recommend. They were a huge help with my taxes. Thank you!
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UNFILED Tax Returns
We find that taxpayers do not file tax returns for one or more years for various reasons and the problem can become overwhelming. Fortunately, there are ways to approach the problem of unfiled returns. The IRS maintains a file going back numerous years of all W2's, 1099's and 1098's (mortgage interest paid) filed in the name of individual taxpayers. Tax Relief Advocates can prepare past returns using various substitute sources when there are missing records. Those returns should be filed as soon as possible in order to avoid accumulated compounding interest.
Case Study: A Complicated Tax Issue Resolved (Despite Surprise Issues)
Michael had a very complicated tax issue, and was starting to get scared because the IRS kept calling and sending letters about wage garnishment and huge fines.
Fortunately, Michael's tax relief advocates were able to do the necessary research and resolve the problem with the IRS completely. They even fixed an issue with his K1.
The IRS was satisfied and the negotiation was executed successfully and on time.
In the end they were able to reduced Michael's tax liability by more than 75%!
Michael is now enjoying freedom from harassing calls and letters and is thankful that his Tax Relief Advocate handled everything, allowing him to stay calm and confident even when things looked like they could fall apart. You never know what will arise during an IRS negotiation.
Call us to discuss how we can help you keep your peace of mind.
8 Ways to Resolve your IRS Tax Issues Albuquerque NM
Tax problems aren’t easy to deal with, and you need to be delicate with the situation in order to come out on top. If you’re dealing with tax issues in Albuquerque NM, here are six common ways to resolve those problems:
1. Installment Agreement
If you owe a large sum of unpaid taxes, you can settle for an installment agreement to break the amount down to manageable chunks. This way, you don’t have to worry about paying a large sum of money all at once, as you can set up a monthly payment program to make the process a bit easier to handle.
2. Partial Pay Installment Agreement
If you’re not able to be able to afford a short-term tax payment installment plan at the moment, you can negotiate for a partial pay installment payment. This will break down the installments to even smaller payments. Keep in mind that there’s usually a hard limit of around ten years. Because this is not a common payment method, and you may risk ticking off the IRS, which is never what you want to do. You may want to discuss with your tax consultant so that you don’t risk getting charged by the IRS.
3. Currently Not Collectible
If you’re not in the financial state to pay owed taxes, you can file for “Currently Not Collectible” to tell the IRS that you’re currently unable to pay. You must attach all the documents that show that you really cannot afford to pay off those debts, or your request may be rejected.
4. Innocent Spouse
Filing as an innocent spouse can prevent the tax debt from being passed from one spouse to the other. If the tax debt existed before the marriage, one spouse should not be responsible for the other’s tax liability.
5. Offer in Compromise
If you don’t have the cash to pay off the entire tax debt, you have the option to file for an “Offer in Compromise” form. This form will tell the IRS that you cannot afford to pay off the debt owed but are willing to pay for a smaller amount. Like a CNC form, you also must attach evidence to show that you’re not in the state to pay off the debt, and once the form is approved, you will have to submit your updated financial statement every month. Once your income surpasses the OIC threshold, they will start charging you the full amount again.
6. Past-Due Returns
If you’ve missed the tax return filing deadline, you may be charged with additional fees or interest. Luckily, this issue can be resolved rather easily by filing for a past-due return form. You may be entitled to a tax refund for the amount that you’ve wrongfully paid in the past, which can save you some more money as well.
7. Penalty Abatement
If you’re charged with any type of tax penalty, you can file for an abatement to reduce or remove the penalty fines entirely. You will need a good reason as to why you want to file for this so it may be a better idea to talk with your tax consultant about how to build a case for a reduction.
8. Statute of Limitations
Tax debts have a ten-year expiration date, and after that, the debt will be removed. This rarely ever happens, as the IRS will get their money one way or another. You shouldn’t count on this to get away with not paying taxes. The IRS will usually get their money through tax lien or levy, but if you don’t have any property, cash, or assets to take, you may be able to get away with not having to pay for ten years.
If you need any help with your Albuquerque NM tax situation, Tax Relief Advocates in Albuquerque NM is where you need to go. Our experienced income tax advocate in Albuquerque NM can help you get around any type of tax situation you may be in. Give us a call today at 888.829.1007.
Difficult Tax Situations that an Income Tax Advocate in Albuquerque NM Can Resolve for You
If you’re having a problem with your Albuquerque NM tax situation, it’s best to have a professional tax advocate deal with it for you. Here are some of the most common situations where a Albuquerque NM tax advocate will be of the most useful for you:
Albuquerque NM Tax Court:
If you’ve been summoned to appear in a tax court, you will need to find a tax relief advocate as soon as possible. They will be able to build a case that will get you out of the toughest situations, or at the very least, face the most lenient sentence.
Tax Evasion Problem Albuquerque NM:
Tax evasion is a serious tax offense, and they can lead to large sums of fine, or even jail time if you don’t represent your case correctly. You might also be found liable for tax penalties as well, and this can limit your tax return potential in the future. To avoid receiving these harsh punishments, you will need to work with a tax relief advocate. They can help gather evidence that will paint you in a different light. You might receive reduced jail time or none at all. It’s fair to say that the consequence that you receive with the help of a tax advocate is the most desirable outcome out of all the possibilities.
Under criminal investigation by the IRS:
The IRS is a persistent organization. They will track your tax movements to find out whether you have been omitting any tax payments from them. A criminal investigation by the IRS is not something to be taken lightly. They will do everything they can in their power to get every single dime that you supposedly owe. If you don’t have the right help, you’ll be at risk of massive fines, jail time, and a criminal record. A tax relief advocate can come in and negotiate and represent your case before matters get out of hand. This way, you can minimize the damage from your tax charges. The best course of action to take to prevent this from happening in the first place is by discussing any tax situations that you’re unsure about with your tax advocate. They can give you pointers on how to resolve the issue before it manifests into something more serious.
Committed Tax Fraud:
Albuquerque NM Tax fraud is another potentially dangerous tax situation and it’s something that you could unknowingly commit. Charges such as claimed faulty deduction filings, false tax credit reports, and understating income are all issues that can happen accidentally. You will need the help of a professional tax advocate to get out of this situation.
Unfiled Albuquerque NM Tax Returns:
If you haven’t paid for the taxes that you’re claiming a return for, it can be taken as intentional tax fraud. To prevent this issue, you might want to have a tax advocate go over your documents for you. Not only that you’re guaranteed to get all of your deserved tax return, but you’ll spare yourself a ton of money and headaches from the legal battles as well.
Tax Liens Albuquerque NM:
If you don’t pay your property taxes, the government might come in and claim your property for it. Once a tax lien is in effect, the IRS will be given the green light to take your properties hostage until you resolve your tax issues. It will massively harm your financial credits and that might limit your financial growth in the future. A tax advocate can negotiate with the IRS for you and deal with this situation so that you’re not liable for substantial tax penalties.
Albuquerque NM Tax Levy:
With a tax lien, the government doesn’t have the right to take your property away. A tax levy, on the other hand, gives the IRS the right to withhold the property to pay back for the amount of tax debt that you owe. A tax debt advocate can come in and put a stop to the levy, minimize financial damage and build a case that will at least extend the amount of time before your property is placed back on levy again. This can buy you some more time to either find the money or gather evidence to take to court.
Tax Filing Albuquerque NM:
There are many types of taxes that you have to be aware of: property, state, federal, and income taxes. It’s not uncommon to see people lose track of the number of taxes that they have to pay and overlook some of them. By having a tax advocate assess your tax situations before submitting your tax return application, you will significantly reduce the likelihood of a mistake. You can rest assured that your tax situation is taken care of by a professional.
TR Advocates specialize in resolving tax issues with the IRS – call us today at 888.829.1007 if you need income tax relief in Albuquerque NM.
WHO WE ARE
Albuquerque NM Tax Relief Advocates
We are experienced tax relief advocates proud to have been serving the Albuquerque area for many years. We have helped thousands of individuals, families, and businesses resolve issues with the IRS without losing sleep over the details.
We are here to protect your interests whether you owe money to the IRS, have unfiled returns, are being audited or have other tax issues.
Rest assured, if you feel things are already complicated with the IRS or State, we are here to protect you.
Come in for a free consultation to find out how we can find you hope and relief in all your tax matters.
Hear What Clients Like You Are Saying About Us:
He saved me thousands of dollars! I googled tax preparer and found Tax Relief Advocates. Amazing! Did what nobody else could do! He will do my taxes from now on!!!!
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