SOLVING TAX PROBLEMS
The subject – taxes. The agency – the Internal Revenue Service – IRS. For some, anxiety ensues by the mere mention of the words. For others, anger and for many, passive indifference. Regardless of the emotions, we all know the old adage that there is no escaping death and taxes. Here’s the reality. Tax problems are commonplace and there are good solutions available. The other “reality” is that most people are embarrassed when they have a tax problem, believe that they are the only one who has such a problem and are afraid to address the problem because they don’t have the cash on hand to pay.
THAV GROSS is recognized as Michigan’s leading and most experienced firm in the representation of individuals and business entities delinquent in personal or business Federal or State tax obligations. We are very experienced in IRS and State of Michigan Offers in Compromise, audits, unfiled returns and all phases of obtaining affordable payment plans. We routinely are able to save our clients thousands of dollars in penalties and interest.
Proper Analysis is Critical
If you contact a tax representation firm – they will claim they have the solution to your problem. There’s a catch, however. Tax representation firms do not even know that income tax obligations are often dischargeable in bankruptcy – if the tax return was timely filed more than 3 years ago. Instead, they will try to convince you that you need to seek an Offer in Compromise or a payment plan because they don’t know the bankruptcy rules and can’t file a bankruptcy for you. Keep in mind the mantra of Financial Crisis Management – the goal is the shed the debt at the least cost and in the shortest time frame. To do so – you must have all the issues properly evaluated.
If you watch TV or listen to radio, you will hear about the “pennies on the dollar” settlements that are available with IRS. That is true – but only if your financial situation fits within the parameters. At Thav Gross we can make this assessment for you in one free consultation. If you meet the parameters and an offer is the best option then that is what we do – and even then, it’s not an overly expensive process. The national tax services, however, approach the problem differently. They charge you the money first, claiming you will succeed in an offer and then they submit the offer on your behalf, without regard to whether you fit within the parameters. When this happens, you will receive notice from IRS in about nine months that your offer is rejected and then money you spend will be wasted. Do NOT let this happen to you. The right way to address a tax problem is to know if the offer meets the parameters before you submit the offer and spend your money.
Payment Plans are Available – Levies Can be Released
There are steps and procedures that you can follow in order to obtain time to pay past due tax bills so that you do not have to live in fear of having your bank account or wages levied without notice. Proper planning is needed because once you enter these agreements, you must stay current on your current taxes or the plans will default. Also, if your bank account is levied or your wages garnished, there are steps we can take to obtain a release of the funds – in this case, you must act immediately.
Never Go it Alone
Keep in mind – you should never attempt to represent yourself before a tax authority. You may be your own best friend, but when it comes to protecting you – you are your worst enemy. As your representative, we provide the necessary shield that is needed at times and the government cannot intimidate us. Whatever you do, do not go it alone. Here’s a simple example why. Suppose you are on the phone with IRS and the Revenue Officer says, “Where do you bank and what is your account number?” In that case, you can’t really say, “Duh, I don’t know where I bank.” You end up giving them the information and then they know where to find your money. If we’re representing you and they ask the same question, we can reply, “I’m sorry, I don’t know where Mr. Jones has his bank account.”
Outstanding, terrific representation at affordable cost is what you should seek for yourself – that is reality.