IRS Tax Help

Client tax update letter – summer 2017 back taxes collection

July 17, 2017 | Mike Habib, EA

Dear Client:

The following is a summary of important tax developments that have occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps you should implement to take advantage of favorable developments and to minimize the impact of those that are unfavorable.

Healthcare bill moves through Congress. On May 4, the House of Representatives passed along party lines the American Health Care Act (AHCA), the Republican plan to repeal and replace the Affordable Care Act (ACA, also known as Obamacare), as amended. The House-passed bill would need to be reconciled with the Senate’s version of health reform legislation.

The AHCA would repeal virtually all of the ACA tax provisions, including the following. (Except as otherwise provided, the repeal would go into effect in 2017).

Bitcoin cryptocurrency tax treatment virtual currency IRS US Tax

June 15, 2017 | Mike Habib, EA

This post describes how existing general US tax principles apply to transactions using virtual currency. This provides guidance in the form of answers to frequently asked questions regarding Bitcoin and other virtual currency tax treatment.

Disputes will arise from trading Bitcoin and other virtual currencies, and having a tax expert by your side could even the odds if challenged by the IRS or the state. We represent US taxpayers worldwide. Schedule your consultation today at 1-562-204-6700.

IRS hires private debt collection agencies to collect on back taxes – Beware

April 5, 2017 | Mike Habib, EA

IRS has announced that beginning this month, it will start to send letters to notify “a relatively small group of individuals” with overdue federal tax that their accounts have been assigned to one of four private collection agencies (PCAs). The assignments were authorized by legislation enacted in 2014.

IRS Problem? Get IRS Help

March 10, 2017 | Mike Habib, EA

Businesses and individuals often require professional IRS help to resolve tax related issues. The tax laws, state and federal tend to be complicated and you rarely have a very good understanding of the laws as they pertain to you or your business. Unfortunately, the IRS has no sympathy for your lack of knowledge and will not accept that as a valid excuse.

IRS Help to Deal with the IRS issues

The Internal Revenue Service (or IRS) is the US government agency responsible for the implementation of the country’s tax laws. And one of the most important duties of the IRS is collection of all federal taxes as applicable. If the IRS suspects that you have not paid what is your rightful due towards taxation, they are within their legal rights to enforce collection actions such as tax levies and liens. It is best to get professional IRS help at the earliest to deal with your taxes effectively and resolve the issues before further escalation. The smart course of action is to contact a professional enrolled agent, CPA or tax lawyer to help you.

Get a free evaluation of your case at 877-788-2937.

IRS tax help – Reliable IRS Resolution Service

January 6, 2017 | Mike Habib, EA

IRS TAX HELP

Did you miss another filing deadline? Do you owe back taxes? Are you being audited by the IRS?

I can help you resolve your tax matter so you can move on with your life.

Don’t let the IRS ruin your life and punish you with tax levies and liens. We offer IRS tax help to individual and business taxpayers. We can file all your unfiled tax returns; negotiate a settlement through small monthly installment payments, or lump-sum settlement.

Get IRS tax help today 877-788-2937.

IRS tax levy – how to stop wage garnishments and bank levies

August 3, 2016 | Mike Habib, EA

An IRS levy permits the legal seizure of your property to satisfy an unpaid tax debt. The IRS can garnish wages, take money from your bank or other financial account, seize and sell your vehicle(s), real estate and other personal property.

If you receive an IRS notice titled Final Notice of Intent to Levy and Notice of Your Right to A Hearing, contact us right away at 877-788-2937 to resolve your back taxes and get the levy released.

TFRP Trust fund recovery penalty – Employment and payroll tax

May 18, 2016 | Mike Habib, EA

Employment Taxes and the Trust Fund Recovery Penalty (TFRP).

Notice 784, Could You be Personally Liable for Certain Unpaid Federal Taxes?

IRS has updated its webpage guidance on the trust fund recovery penalty and who IRS can reach to pay it. The guidance is a reminder for all potential “responsible persons” to make sure that timely payment of employment taxes is given the highest priority at any profit or nonprofit enterprise.

Cannabis: Marijuana Businesses’ Offer In Compromise

May 8, 2016 | Mike Habib, EA

IRS Small Business/Self-Employed Division memorandum, Calculation of Reasonable Collection Potential in Certain Offers in Compromise Cases (Apr. 28, 2016)

IRS’s Small Business/Self-Employed Division (SB/SE) has instructed its Collection employees not to reject offers in compromise (OICs) by persons in the Cannabis / marijuana business, in states where marijuana sales are legal, merely on public policy grounds.

Offer in Compromise— OICs. Code Sec. 7122(a) authorizes IRS to compromise a taxpayer’s income tax liability. Code Sec. 7122(d)(1) gives IRS wide discretion to accept compromise offers and to prescribe guidelines “to determine whether an offer-in-compromise is adequate and should be accepted.” IRS will consider an OIC where: (1) the taxpayer is unable to pay the tax; (2) there is doubt as to the taxpayer’s liability for the tax; or (3) a compromise would promote effective tax administration because collection of the full amount of tax would cause economic hardship for the taxpayer, or compelling public policy or equity considerations provide a sufficient basis for compromising the liability. (Reg. § 301.7122-1(b)) There is doubt as to collectibility “in any case where the taxpayer’s assets and income are less than the full amount of the liability.” (Reg. § 301.7122-1(b)(2))

What to do if you receive a IRS tax lien notice? What are your options? IRS Fresh Start program helpline 1-877-788-2937

May 3, 2016 | Mike Habib, EA

Are you receiving calls, postcards and letters regarding your IRS tax lien? Are telemarketers bombarding you with telephone calls to settle your back tax debt?

BEWARE!! IRS Lien letter recipients!

Many of these solicitors you are not actually licensed to represent you before the IRS, they are not tax attorneys, nor CPAs, nor EAs.

See our popular “beware report” HERE.

Learn about the IRS fresh start initiative program below.

The IRS is actively and aggressively pursuing individual and business taxpayers with aggressive collection actions. IRS enforcement could be in the form of a tax lien, where the IRS files a lien at your county recorder’s office as a public record so the taxpayer cannot sell assets or property without paying their taxes, penalties and interest.

The IRS also enforces collection actions through tax levy and tax garnishment actions against the taxpayer paycheck and bank accounts. Taxpayers should avoid these enforcement actions by resolving their back tax matter with the IRS.

IRS Lien letter recipients: Get tax help today! IRS Fresh Start program helpline 877-788-2937. All 50 states.

Chicago, IL Tax Lawyer – Taxpayer Power of Attorney Audit and Back Taxes

April 22, 2016 | Mike Habib, EA

Chicago, IL Taxpayer Rights Power of Attorney – Representing individuals and businesses before the IRS

If you are facing a tax audit, IRS tax levy to back tax help to unfiled tax returns and more, the Chicago tax attorney is here for your need. The qualified tax lawyer can handle all legal matters related to taxes as well as assist businesses when it comes to properly filling out their tax forms. Here is a sampling of the services provided by the Chicago tax lawyer. Did you receive an IRS or state tax lien notice, letter, postcard or phone call?

Back Tax Help
Innocent Spouse Tax Relief
IRS Help
IRS Tax Audit Representation
Tax Debt Settlement
Tax Negotiations & Resolution
IRS tax levy and lien release Help
Penalty Abatement
941 Payroll Tax Problem Help & More

Get reliable IRS representation, call 877-788-2937.