Two events must occur before the IRS may begin collections activity: • First, the tax must be assessed and due. The tax may be shown on a tax return showing a balance due, an audit closing agreement, an audit deficiency that was not contested, an SFR substitute for return filed…
Tax Return Preparation For your tax returns, you want a professional tax firm EA or CPA firm you know you can rely on their tax expertise. Our tax professionals will make sure your federal and state income tax returns, business tax returns and trust and estate tax returns are prepared…
Generally, the statute of limitation for collection expires 10 years after the date the tax was assessed (for tax assessed after November 5, 1990). For tax assessed before November 5, 1990, the statute of limitation for collection is six years. This period may be extended by an agreement between the…
The IRS may seize all property and rights to property (except for exempt property), whether the property is real or personal, tangible or intangible, belonging to any taxpayer who neglects or refuses to pay back taxes, or any property on which there is a tax lien for payment of any…
Do you owe the IRS unpaid back taxes? Have they sent you many letters but you did not respond? There are still options. CDP – Collection due process. If the time to respond to an IRS collection notice has passed, you, the taxpayer, or your power of attorney / representative,…
Are you a business owner or an officer facing a 941 payroll or employment tax problem? Unpaid payroll or employment tax is a serious tax matter, and the IRS holds the business owner, officers and other personnel as responsible person(s) and actively enforce aggressive collection measures to collect on the…
Mike Habib, EA tax firm provides a wide range of tax preparation, tax planning, tax representation and consulting services. We professionally prepare individual and business tax returns including Federal, State and e-filing. Clients come to us for expert assistance with any tax notice or IRS problem. We serve Pico Rivera,…
No one really wants to get themselves into the situation of owing back taxes. Unfortunately, it happens; and it happens most often when people are going through a difficult time including facing unemployment, life and relationship changes, and even medical problems. The present state of the economy certainly isn’t making…
If you haven’t paid back taxes, penalties, or interest – you may be able to work with us to apply for an Offer in Compromise (OIC) with the IRS in order to get compliant, alleviate your issues with the IRS collectors, and move forward. An OIC is an agreement to…
When it comes to choosing a tax professional to resolve a tax problem, represent you before the IRS, or handle complex tax issues, it is important to work with someone with the experience and expertise to deal with your situation effectively. You need to find someone you can rely on…