IRS Tax Lien; Federal Tax Lien

An IRS tax lien or federal tax lien can negatively effect both your credit and your ability to buy, sell, or refinance property.  If you owe back taxes, the IRS can issue an IRS tax lien against any real property that you own.  If you owe back taxes and need IRS help with an IRS lien, contact Austin & Larson Tax Resolution.   What is an IRS Tax Lien? An IRS tax lien is a legal claim by the federal government on your property when you owe an unpaid tax balance.  A federal tax lien attaches to all your property, including real property (houses or land), personal property, and financial assets. Before the IRS will issue a federal tax lien against a taxpayer, they will first assess the tax balance and then send out a Notice and Demand for Payment.  If the balance is not paid after the demand notice has been sent, the IRS may issue an IRS lien. The IRS files a Notice… Read More

A taxpayer that has received notice of IRS audit needs tax audit help immediately.  You should not try to handle an audit on your own and should instead seek audit help immediately.  Just because your return is being audited does not mean that it is wrong or that there is an error on it.  However, having professional help for tax audit is the best way to ensure that the final audit results will be the correct audit results. The IRS can generally audit any return filed within the last three years.  However, there are certain situations where they can go back six years or more.  Once your return has been selected for audit, you will be notified by mail.  The audit may be a correspondence audit (done by mail) or an in-person audit.  The IRS auditor may seek to verify a few specific items on your return or the IRS may request substantiation of all return items.  Time is of the essence in an IRS audit. … Read More

Back-taxes-IRS-Tax-Help-Back-tax-debt-relief

Owing back taxes to the IRS can create both a mental and financial hardship for taxpayers.  Many taxpayers do not know what their options are for paying back taxes or where to go for IRS help.  If you need back tax debt relief, contact Austin & Larson Tax Resolution to speak to a tax relief specialist today.   Owing IRS Back Taxes Do you have back taxes or have unfiled tax returns?  It can be a very stressful and scary situation to know that you owe taxes that you cannot pay.  Many people go years with the knowledge that they must address this issue, however, they are paralyzed by fear.  We have seen many situations where a taxpayer has not filed back tax returns for several years as they knew that the returns would show a tax debt that they are unable to pay.  Others have filed and come in with piles of unopened IRS correspondence on their back taxes because they were too fearful… Read More

IRS-Offer-In-Compromise-form-656-settlement-tax-debt

  If you owe more than $10,000 in IRS tax debt, you may qualify for an IRS tax debt relief program.  One tax relief program you may qualify for is an Offer in Compromise OIC.  Qualifying taxpayers may be able to settle their tax debt for a fraction of what they owe.  If you owe back taxes, contact Austin & Larson Tax Resolution to speak with a tax relief specialist to see if you qualify for an IRS Offer in Compromise.   The Offer in Compromise OIC program was established by the IRS to help taxpayers who are experiencing financial hardship due to the tax burdens they have accrued over time.  Taxpayers that owe more than $10,000 to the IRS may qualify for a tax debt relief program.  The Offer in Compromise OIC program takes into account the equity of all of your financial assets and performs a calculation of your future earning potential.  Based on the combination of these two elements, the IRS determines… Read More

The Internal Revenue Service deadline for filing your 2016 tax returns is fast-approaching.   Your 2016 return is required to be filed this year by April 18, 2017.  The original due date of April 15, 2017 was extended due to April 15, 2017 being a weekend and April 17, 2017 being Washington D.C. Emancipation Day.  Taxpayers now have an additional three days to gather the necessary information and file their returns. There is also another deadline approaching that many taxpayers are not aware of that could result thousands of dollars in lost refunds.  The IRS grants a three-year period to file each of your returns to claim any refund you may have. If your 2013 individual income tax return is not filed by April 18, 2017 any refund due on the return will expire (deadline is extended if you timely filed an extension on your 2013 return).  This means that even if you file a return and are entitled to a refund, the IRS will consider… Read More

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