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| OFFER IN COMPROMISE |
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| The Offer in Compromise (OIC) is a program that allows a taxpayer to settle their delinquent taxes for LESS than the total amount the IRS claims they owe. |
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An offer in compromise is an agreement between a taxpayer and the IRS that resolves the taxpayer's tax debt. The IRS has the authority to settle or "compromise" federal tax liabilities by accepting less than full payment under certain circumstances. A tax debt can be legally compromised for one of the following reasons:- 1. Doubt as to Liability - Doubt exists that the assessed tax is correct.
- 2. Doubt as to Collectibility - Doubt exists that you could ever pay the full amount of tax owed.
- 3. Effective Tax Administration - There is no doubt the tax is correct, and no doubt that the amount owed could be collected, but an exceptional circumstance exists that allows the IRS to consider your OIC. To be eligible for a compromise on this basis, you must demonstrate that collection of the tax would create an economic hardship or would be unfair and inequitable.
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| Contact me today at 865-566-0125 to see if the Offer in Compromise Program is right for you, or fill out the form to the right! |
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| PENALTY AND INTEREST ABATEMENT |
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| The amount of money owed to the IRS can increase at an alarmingly rapid pace due to penalties and interest. Penalties and interest can make up a large portion of a taxpayer’s delinquent tax bill. |
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| IRS tax penalties can often exceed the amount of the underlying IRS tax debt. Generally speaking, the IRS imposes penalties when taxpayers fail to submit timely tax returns, submit false or fraudulent tax returns or make other false statements, disregard tax laws, and understate the amount of tax owed or the value of property sold. |
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| It is possible to have past tax penalties and interest removed or altogether stopped. Additionally, you may qualify for a tax refund if you paid incorrect penalties and interest. |
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| The IRS will remove some or all of the penalties and interest if certain requirements are met. Please contact me at 865-566-0125 immediately to see if you qualify for reducing or eliminating your tax penalties and interest, or simply fill out the form to the right. |
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| PAYMENT PLAN |
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| The IRS has programs that allow you to pay your taxes through regular monthly payments - called an IRS installment agreement. Like most creditors, the IRS wants your tax payment made immediately and they want it paid in full. Therefore, all though an IRS installment agreement is a possibility on how to address your tax problem, not everyone is eligible for this an installment program. However, if you are eligible, an installment agreement may be the solution that helps you catch up. |
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| But don't assume that a payment plan is your best option. There are definite drawbacks to an installment plan, including the fact that interest and penalties continue to accrue while you still owe. Combined with penalties, the interest rate is often 8% to 10% per year. It's possible to pay for years and owe more than when you started. |
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| There may be better options for you. Please call me immediately at 865-566-0125 to discuss your case, or simply fill out the form to the right. |
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| LEVIES AND LIENS |
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| The IRS can make your life miserable by filing federal tax liens. Federal Tax Liens are public records that indicate you owe the IRS various taxes. They are filed with the County Clerk in the county from which you or your business operate. Because they are public records, they can show up on your credit report. The existence of a federal tax lien can make it difficult for you to obtain any financing on an automobile or a home. Federal Tax Liens also can tie up your personal property and real estate. |
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| An IRS levy is the actual action taken by the IRS to collect taxes. For example, the IRS can issue a bank levy to obtain your cash in savings and checking accounts. Another example of a levy is found when the IRS levies your wages or accounts receivables. Levies should be avoided at all costs and are usually the result of poor or no communication with the IRS. |
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| If you have a levy or lien currently in place, please contact me immediately at 865-566-0125 to discuss your options, or simply fill out the form to the right! |
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| INNOCENT SPOUSE RELIEF |
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| Many married taxpayers choose to file a joint tax return because of certain benefits this filing status allows. Both taxpayers are jointly and individually responsible for the tax and any interest or penalty due on the joint return even if they later divorce. This joint liability is applicable even if a divorce decree states that a former spouse will be responsible for any amounts due on previously filed joint returns. One spouse may be held responsible for all the tax due even if all the income was earned by the other spouse. |
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In some cases, a spouse will be relieved of the tax, interest, and penalties on a joint tax return. Three types of relief are available:- 1. Innocent spouse relief
- 2. Separation of liability
- 3. Equitable relief
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| To discuss which options may work for you, please call me immediately at 865-566-0125 to discuss your case, or simply fill out the form to the right. |
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| PAYROLL TAXES |
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| Employers are required to withhold payroll taxes from their employees' paychecks and pay this tax to the IRS on their employees' behalf. The most common types of payroll taxes are 941 taxes and 940 taxes. When business owners are unable to or avoid paying these taxes, a payroll tax liability is created. The IRS is persistent and aggressive in collecting payroll tax debt. |
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| When a taxpayer has a past due payroll tax debt, they must address the liability and find a solution if they are going to stay in business. Resolving a payroll tax issue requires that the delinquent business both maintain current compliance with their ongoing taxes and set up a plan to pay back or settle the overdue debt. |
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| To discuss how to resolve your payroll tax liabilities, please call me immediately at 865-566-0125 to discuss your case, or simply fill out the form to the right. |
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| CRIMINAL TAX ISSUES |
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| Not only does the Internal Revenue Service (IRS) enforce civil tax laws, but it can also impose criminal charges leading to a conviction, fines and imprisonment. |
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| If you are contacted by an IRS Criminal Division Agent, you should immediately contact an attorney prior to making contact with the Agent. By speaking with the Agent, you may jeopardize your chances of success and ultimately you may prove to be your own worst witness. |
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| Not only is Norman D. McKellar a member of the American Society of IRS Problem Solvers, but he is also a member of the National Association of Criminal Defense Lawyers and the Tennessee Association of Criminal Defense Lawyers. |
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| Please contact me immediately at 865-566-0125 to protect your rights, or simply fill out the form to the right. |
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| IRS FORMS |
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| Below are listed some of the frequent tax documents used for purposes of tax resolution. For a complete listing of IRS Tax Forms, click here. |
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| Form 433-A |
| Information form for wage earners & self-employed individuals |
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| Form 433-B |
| Information form for businesses |
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| Form 656 |
| Offer in Compromise |
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| Form 2848 |
| Power of attorney form |
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| Form 8857 |
| Innocent spouse claim form |
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| Form 9465 |
| Installment Agreement |
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| To view these documents, you will need Adobe Acrobat. To get a free copy of Adobe Acrobat, please click here. |
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