TAX & IRS RELATED SERVICES
Bay Legal tax attorneys can assist you, and/or your business, with all your tax needs, including offer in compromise, tax lien and levy releases, tax appeals representation, and can provide tax preparation, bookkeeping, cryptocurrency accounting and audits through our sister company BayTax.com.
BayLegal.com Tax Services
- IRS FRESH START PROGRAM
- OFFER IN COMPROMISE (“OIC”)
- CURRENTLY NOT COLLECTIBLE (“CNC”)
- INSTALLMENT AGREEMENT (“IA”)
- PENALTY ABATEMENT (“PA”)
- RELEASE OF FEDERAL TAX LIEN
- IRS WAGE GARNISHMENT RELEASE
- IRS BANK LEVY RELEASE
- TAX RETURN PREPARATION
- TAX PLANNING
You can settle your IRS Tax Debt for a fraction of what you owe.
IRS FRESH START PROGRAM
The IRS Fresh Start program for individual taxpayers and small businesses can help. The IRS began Fresh Start in 2011 and has since expanded the program by adopting more flexible Offer-in-Compromise terms. This program assists those who qualify with Releases of Federal Tax Liens, streamlined Installment Agreements, and more flexible Offer-in-Compromise terms.
OFFER IN COMPROMISE (“OIC”)
The IRS Offer in Compromise program is a Federal Tax Relief Program for those taxpayers who cannot afford to pay their tax debt due to financial hardship, or have a legal claim and don’t think they owe the tax under the tax code. We prepare all the required forms after verifying a taxpayer qualifies for this program.
CURRENTLY NOT COLLECTIBLE (“CNC”)
If you are suffering from financial hardship, you can apply for CNC status with the IRS. Once in place the IRS will not issue a levy on your paycheck or bank account and will stop all collections activities against you. You must be under a financial hardship and have zero disposable income left at the end of each month. Your Non-Collectible status remains active, as long as you make the periodic filings required to maintain this status, for as long as you are experiencing financial hardship.
INSTALLMENT AGREEMENT (“IA”)
Installment Agreements are arrangements by which the Internal Revenue Service allows taxpayers to pay liabilities over time. During the course of installment agreements penalties and interest do continue to accrue. Generally however, no levy may be made while the IA is pending.
PENALTY ABATEMENT (“PA”)
This is usually the best option for taxpayers who will not qualify, due to income or net-worth, for the hardship programs offered by the IRS. If successful the IRS will remove or reduce interest and penalties on your tax debt while you must payoff the principle amount. We advise that the tax debt be paid in full before seeking abatement, otherwise (regardless of your petitions success) new penalties will be added leaving you in the same position.
RELEASE OF FEDERAL TAX LIEN
The IRS will file a tax lien once a taxpayer owes more than $5,000. A lien can be viewed similar to an “I owe you” to the IRS. This is to protect the government’s interest in collecting the debt owed to them. A lien can only be removed once the tax debt is paid in full, unless you qualify for release under the provisions of the IRS Fresh Start Program. You can request a hearing before your lien is filed if you respond to your notices.
IRS WAGE GARNISHMENT RELEASE
A continuous garnishment on your paycheck that remains in place until your employer receives notice of release. A wage garnishment can only be released by submitting full financial information. Once released, consider entering into an installment agreement to avoid future collections.
IRS BANK LEVY RELEASE
The IRS issues a one-time levy to your bank account and has rights to all of the funds in your accounts, up to the total balance due. A bank levy can only be released within 21 days from the date it was issued. If you have a bank levy please call us ASAP due to the strict release deadlines.
TAX RETURN PREPARATION
Many taxpayers simply need to file missing tax returns to become compliant again with the IRS. The professionals at Hillhurst Tax Group can prepare any tax return, personal or business, from the simplest wage earners to the most complex partnerships and corporations. Many taxpayers who owe for older tax years usually have many years that have not been filed and the IRS has decided to file for them and assess a tax balance.
Taxpayers who are self-employed are most likely to use this service. The accounting professionals at Hillhurst Tax Group can get your business back on track, or keep your current business from getting off track. Fees will vary based on the type of services required for your business.
This can be useful for any taxpayer, although this service is aimed at those high net worth individuals who are making big business decisions. Whether you are selling your business and need to add/remove members in the most tax efficient way, or want purchase the entire Las Vegas strip, the professionals at Hillhurst Tax Group are masters in taking aggressive pro-taxpayer positions in tax planning.
Our lawyers help clients in all aspects of tax and IRS related issues.
Book a consultation with one of our Tax Attorneys today.
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