Our tax resolution services are handled by licensed professionals who know the IRS inside and out. The maze that is the IRS is their backyard. We can determine which tax relief services you qualify for after a consultation and financial analysis. From there, we can walk you from start to finish on how to resolve your tax issues. It is vital to work with a reputable company and avoid all the scams that surround tax season.
While there are excellent tax relief companies, there are also some businesses that make unreasonable promises to solve all your problems and eliminate your entire tax bill in exchange for an upfront payment. Phelps Accounting Services can assist you in the preparation of your unresolved tax issues in accordance with professional standards. Our services include:
Tax Levies & Liens Release
A federal tax lien comes into being when the IRS assesses a tax against you and sends you a bill that you neglect or refuse to pay it. The IRS files a public document, the Notice of Federal Tax Lien, to alert creditors that the government has a legal right to your property.
Wage Garnishment Release
Under U.S. federal tax law, a garnishment by the Internal Revenue Service (IRS) is a form of administrative levy. In the case of an IRS levy, no court order is required.
End Penalties & Interest
The late payment penalty is 0.5% of the tax owed after the due date, for each month or part of a month the tax remains unpaid, up to 25%. You won't have to pay the penalty if you can show reasonable cause for the failure to pay on time. We can help.
Tax Negotiation Settlement
An offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can't pay your full tax liability, or doing so creates a financial hardship.
Reduce IRS Tax Debt
The Taxpayer Relief Initiative is designed to help taxpayers who are unable to pay their taxes because of the pandemic. Taxpayers who owe taxes and could not pay have always had options such as installment agreements and offers in compromise, but now they have more options.
Resolve Back Taxes
Paying off your taxes can be extremely stressful, especially when you’ve got a tax bill that’s much higher than you can afford. Your back taxes with penalties and interest can quickly become unmanageable. We can help you begin to resolve your tax issues.
IRS Audit Defense
Having prepaid audit defense is the solution for tax issues that require professional expertise. For one low fee, you can have knowledgeable tax and audit experts available to defend your tax return.
Payroll Tax Negotiation
In general, the Internal Revenue Service collects delinquent payroll taxes aggressively, meaning that the IRS attempts to collect the tax as quickly as possible. If you’re faced with a delinquent payroll tax balance, the best course of action is to face the problem head-on. Ignoring or prolonging the negotiation process only makes collection issues worse.