Thursday, 28 November 2013

Get the Facts: How to Deal with the Federal Tax Lien

Many of us just want the IRS harassment to stop. But when threatening phone calls and letters are at their peak, many times the next correspondence you receive will be a Federal Tax Lien. Once you receive this notice, seek professional tax relief immediately, it may be more than just your property on the line.

In essence, a tax lien is a legal claim to an individual's property by the Fed. If you are delinquent in paying your tax liability to the IRS, many times the IRS will invoke a lien in an attempt to collect the debt owed. The lien can affect all property and interest in property at the time of notice. If you do not own property, it could affect anything you intend to purchase for the ensuing ten years. 

A tax lien is considered a "secret" lien in that it is only supposed to be known by the IRS and the taxpayer in question. The law prohibits the IRS from disclosing information about the lien to any other party other than the taxpayer, with two exceptions of course. 

The IRS can bring on judicial proceedings to foreclose on the Federal Tax Lien. In this case, the court system becomes involved and the judicial proceedings are considered public knowledge. This can affect many aspects of the individual's life besides Federal property possession.

The second exception involves the Federal tax lien filing process. When the IRS begins the lien process, the IRS issues a Notice of Federal Tax Lien or NFTL and records the notice in the register of deeds office in the taxpayer’s county. This practice is to prevent third parties who purchase property from the taxpayer or lend money to the taxpayer from collecting interest superior to the Federal tax liability on the property or money lent. 

This notice is reported to the three credit reporting agencies. Unfortunately the NFTL will negatively affect your credit, hindering you from securing future property or loans. This can also effect employment, as many employment agencies and organizations now check the potential hire's credit report as a common practice. Apartment complexes and other rental property owners also check a potential renter's credit history as part of the rental application process. An NTFL can essentially inhibit you from finding work or a place to live.

Seeking professional tax relief when you receive notice of a lien is important to your success. The IRS will negotiate your tax debt with your attorney to reduce what you owe. Your attorney can also have the lien lifted once an agreement of terms of tax liability payoff has been met. If you have received notice of a tax lien, contact the experts at Optima Tax Relief as soon as possible. Don't let a lien affect your life; call the attorneys at Optima today.

IRS Fresh Start Initiative Expanded to Aid Struggling Taxpayers

The Fresh Start Initiative helps taxpayers in three ways: through penalty relief, installment agreements, and through offers in compromise.

In 2012, the IRS announced that it was expanding its Fresh Start Initiative, offering further relief to taxpayers who owe taxes. The initiative helps taxpayers in three ways: through penalty relief, through installment agreements, and through offers in compromise.

The penalty relief portion of the initiative has been offered to individuals who have been unemployed for more than thirty consecutive days during the year or who are self-employed and have experienced a 25 percent or greater reduction in income due to the economy. This component of the Fresh Start Initiative offers a six-month extension on the payment of the tax bill for those who qualify.

With redesigned installment agreements, taxpayers now avoid having to request an installment agreement for taxes owed until the tax bill reaches the threshold of $50,000. Previously, the threshold was $25,000, at which time the IRS would begin a financial analysis of a person's finances as well as filing a Notice of Federal Tax Liens. Those reaching the $50,000 threshold can now take six years to pay the money off, rather than the previous five years that was required before the initiative's expansion.

The Offer in Compromise applies to those individuals who don't have either the money to pay off the debt that they owe to the IRS or enough assets that could be seized to satisfy the debt. In order for the Offer in Compromise to be successful, both the taxpayer and the IRS must agree that the taxpayer does not have the money or assets to pay off the debt. The taxpayer offers an amount that he/she is able to pay, and the IRS agrees to this amount, even if it is far below what is owed. Once the agreed on amount is paid, the taxpayer's bill is considered "paid in full."

While the Offer in Compromise is a wonderful tax relief solution for many people, the chances of having an offer rejected are quite high. Often, the IRS believes that the full amount can be paid as a lump sum or through a payment agreement. Errors or omissions on Offers in Compromise submissions are also a frequent reason for denial. Because the process of obtaining an agreement from the IRS for an Offer in Compromise is so difficult, it is highly recommended that those seeking this tax relief solution consult a professional with experience in this process.

The expert tax accountants and attorneys at Optima Tax Relief have the experience with Offers in Compromise that you need. They will take a look at your situation to determine if the tax debt is legally compromised through doubt of liability or doubt of collectability. If there is no doubt regarding the debt, then Optima Tax Relief will help you to demonstrate the economic hardship that you will incur if forced to pay the full amount.

For more information on the tax relief options that are available to you, contact us today.

Thursday, 21 November 2013

How can I Settle Tax Debt?

So you want to settle tax debt. Many Americans are eyeing up tax settlement initiatives recently restructured by the IRS for struggling citizens. Since there is no statute of limitations on a tax liability in dispute in California, your old debts may have doubled or even tripled due to delinquency fines or interest accrual. If your initial tax debt was overwhelming, you can pretty much bet that no they are completely unmanageable. 
Before you decide on high-tailing it to Mexico, consider your options for tax debt relief. You heard right, drop your luggage and shut the car off, you can get out of your tax debt - legally. 
Since the IRS began their campaign to become a shinier more approachable beast, there are more programs available to settle tax debt. Not only have the programs been refreshed, but more individuals can qualify for them - even you. Hiring a tax specialist can help you on your quest to become tax debt-free. They will guide you through the process from inception to completion.
Step One: Settle down and make the call. Many of us aren't criminals, we just don't have the cash to dish out to the IRS; we have rent, mortgages, car payments, and a family (or scruffy pup) to feed. Hire a tax attorney who specializes in tax relief.
Step Two: Get your paperwork in order. The IRS loooves paperwork, so much in fact, we think they may have their own paper mill somewhere in Indonesia. If you have received any notices such as a demand to collect or notice of a possible levy or lien, make sure you don't wait to present these to your attorney. 
Step Three: Consult with your attorney about which tax relief option will be best for your situation. Depending on your circumstance he or she may suggest the following: 
  • Offer in Compromise: Your attorney will help you apply for this relief option with the IRS. Once your paperwork is received, the IRS will negotiate your tax debt with your attorney. With an Offer in Compromise, you can settle your debt for significantly less than you owe.
  • Installment Plan: If you do not qualify for an Offer in Compromise, your attorney may suggest negotiating a deal with the IRS for less than you owe and then agree to an affordable monthly payment plan to settle your debt.
  • Currently Non-Collectible: This option will allow you to get back on your feet if you are financially unable to pay back the IRS. This can buy you some time to get your affairs in order. IRS harassment will cease during this truce period. When you are able to pay, your attorney can negotiate a payment plan with the IRS.
So keep your head and contact the experts at Optima Tax Relief. They will help you get the tax relief you need and keep the IRS at bay. Call today for a consultation, you've got nothing to lose except your hotel reservation in Tijuana.
For More information tax debt relief Click Here

An IRS Tax Lien Can Add A Lean And Hungry Look To Your Financial Life

The IRS defines a federal tax lien as “the government’s legal claim against your property when you neglect or fail to pay a tax debt.” Like any other type of lien, the IRS variety keeps you from cashing in on sales of property -- real estate and personal -- because the government now has an interest in any future cash that could come your way before you settle up.
The ABCs of a tax lien
A tax lien affects your assets, business and credit standing:
  • Your assets, present and future that you own or acquire during the duration of the lien cannot be liquidated unless the IRS lifts the lien.
  • Your business property and all your receivable accounts suffer the same fate as your personal assets.
  • Your credit rating could suffer greatly as the result of a tax lien. You could experience a whopping 100-point drop.
Finally, even though you file for bankruptcy, everything you salvage afterward is still encumbered by the lien.
The lien process
The IRS is the 50-pound gorilla of collection agencies. To collect unpaid taxes it can file a Notice of Federal Tax Lien at a local courthouse. Once recorded, the tax lien puts the IRS at the head of the line of any other third-party indebtedness claims.
Legally, the IRS can go the lien route after waiting just ten days for a non response to their original demand letter. In practice, they usually don’t record lien notices until they have sent all the required letters of notification -- five of them -- beginning about six weeks after your return is filed and audited.
A lien is not a levy
A tax levy is the outright confiscation of your property and assets -- your land, your paycheck, your bank account, etc. -- to pay a tax debt. Avoiding a levy and settling up is far less complicated than heading off a tax lien filing. On the other hand, The IRS won’t usually bother with a lien if the tax bill is less than $10,000.
According to Steve Rhode in a recent Huffington Post article:
“If you owe more than $10,000, you can still avoid a federal tax lien filing. Even if you can't pay the tax immediately, the most effective ways to avoid a federal tax lien filing are to request an extension of time to pay of up to 120 days or to enter into a streamlined installment agreement to pay the full balance.”
The good news is that, in recognition of these more difficult economic times, the IRS has adopted a more lenient approach under its Fresh Start Program. The changes instituted in the IRS administrative relaxed rules resulted in a 32 percent drop in the number of tax liens during the 2011 to 2012 tax years.
So tax audits, levies and liens can be the stuff of sleepless nights and could entangle your finances to the point of paralysis. Rather than getting to that point of desperation, your best option is to get some tax resolution help from a tax expert. We’ll help you get that lien lifted and clean up your levy difficulties. Get your free estimate from one of our Senior Tax Professionals.

IRS Tax Levy Notices Are Not Junk Mail - Get Professional Tax Relief Advice

The IRS public relations people like to point out that our federal income tax is founded on the voluntary cooperation of citizens and is somewhat of an honor system. Unfortunately, if you end up owing back taxes you will quickly discover that the IRS definitely has the system covered. Your own cooperation won't necessarily be voluntary if come up against an IRS tax levy.
Liens and levies are IRS collection weapons
If you fail to pay your taxes the IRS can attach or take your assets. Attachments are in the form of a lien. Generally, a tax lien is a legal claim the IRS puts on your business or real property, which cannot be transferred or sold until the lien is satisfied. A levy on the other hand, is the actual seizure and subsequent sale of your real or personal property that you own in full or in which you have an interest.
Everything you have is vulnerable to a levy
The IRS could for example:
  • Take anything you hold -- a car, boat or even your house -- and sell it off to settle your tax debt.
  • Go after property that is yours, but is controlled by someone else. That would include your paycheck, commissions, a retirement account, stock dividends, money in your bank account and other sources of income -- even the money loan value of your life insurance policies
If you are facing a lien, you have already received notice
The IRS levy process has to meet the following criteria:
  • They audited your tax return and sent you a Notice and Demand for Payment.
  • You failed to pay the tax .
  • You received a Final Notice of Intent to Levy and Notice of Your Right to a Hearing 30 days before the levy.
Your final notice may have arrived by certified or registered mail or personally delivered to your last known address or place of business.
Hardship cases
Having a levy on your paycheck, bank account or other property could definitely cripple you financially, but if you act quickly and contact the IRS at the phone number on your levy notice, you might be able to get a temporary release of the levy. From this point in the process you need to work closely and cooperatively with the IRS to get things settled.
Time to get some professional tax help
At this point everything may seem somewhat overwhelming. Why do you owe that extra tax? Was there something you didn’t get a chance to-- or didn’t know how to -- dispute the tax liability? Do you really want to face the rest of the process knowing what a tremendous hammer the IRS wields, especially when there’s an inherent conflict of interest between the IRS employee’s desire to help you and the IRS’s position as the world’s most powerful collection agency?
Optima Tax Relief can help 
Your first step is to use the 30-day grace period mentioned above to get a release from the IRS levy. Then you can explore your options for resolving all the issues that caused the levy and come to a settlement. That’s where we come in. Visit our web page and see if you qualify for a free estimate, and a no obligation professional tax evaluation from one of our senior tax professionals.

Thursday, 14 November 2013

The Dreaded Tax Levy: Tips to Help You Overcome IRS Bullying

It has been said that the most feared weapon in the IRS's tax collection arsenal is the dreaded tax levy. If you receive notice of a tax levy, stay calm. There is help available for those targeted for levies and a tax specialist may be able to have a levy lifted if you seek help quickly and without hesitation.
In a tax levy notice, the IRS states they will seize your property, "without distraint and by any means necessary." This statement may seem abrupt and demanding, make no mistake, this notice is intended to intimidate the tax payer.
The IRS has no time to waste when attempting to collect a debt, by issuing harassing and threatening notices they believe they can "scare" the cash right out of your pocket. The best part is they assume you are trying to pull one over on the Fed, so they not only demand what they think you owe, they also tack on fees and penalties to your to the supposed debt. These penalties and fines can amount quickly, dwarfing your actual tax debt.
By leveraging power granted to the agency by the Internal Revenue Code, the IRS can seize wages, real property, bank accounts, social security payments, insurance proceeds, personal residences, and accounts receivables. The real kicker is not only can the IRS impose these levies upon your immediate assets; they also have the authority to impose them upon a third parties which hold other assets you posses. These third parties can include a bank, brokerage, or spouse.
It’s time to stand up to the IRS and finally get real tax relief. One way out of tax levy is an Offer in Compromise. This is an agreement between you and the IRS that outlines a payment amount that will satisfy what you owe. Your tax specialist can help you apply for an Offer in Compromise and negotiate the amount you will agree to pay with the IRS.
In most cases, your tax attorney will have the amount you owe reduced significantly. He or she will also have the ability to dissolve fees and penalties the IRS tacked on to your debt. If the IRS does not accept your initial offer of repayment, your attorney will have the opportunity to appeal. Once this process is complete, all liens, levies, and other penalties will be lifted; once again granting you access to your assets.
If you have received notice of a possible tax levy, lien, or wage garnishment, contact the experts at Optima Tax Relief immediately. Their team of professional tax attorneys will fight hard to get you the tax debt relief you need to get back in good standing with the Fed. 
Devin Finley is a freelance writer and tax relief expert. Devin writes on a multitude of financial and legal topics. He enjoys collaborating and strategizing with other professionals to ensure tax & debt clients receive competent and beneficial representation. For more information Visit http://optimataxrelief.com/

WARNING: Don't Push IRS Notices Aside, Hire a Professional to Settle Tax Debt



IRS tax notices of debt can come without warning, especially if you file your returns and make your tax payments on time. The funny thing about the IRS is the agency's ability to recalculate your taxes owed however they choose. The IRS can look at information you have filed over the years, deduce you owe them tax money, and in a final bit of irony - add penalties and late fees for the months or years the discrepancy went unnoticed.

At first appearance of this notice, you are most likely terrified or livid. Either way, it’s time to go to bat with the big boys and prevent the IRS from imposing hefty penalties fines, levies, liens, and wage garnishments in order to collect this newly found debt.

Get a move on
The absolute worst thing you can do with an IRS notice is toss it in a drawer to deal with at a later date. Time is of the essence, and you must act as soon as you receive a notice. Waiting can increase your debt daily. Worse, after ten days of a notice without a response from you or your tax attorney, the IRS can begin freezing your assets or seizure of your tangible property.

Call in the big guns
Hire a professional. Don't question your first impulse to contact an attorney, in this case you must. He or she can act as your advocate, negotiating down your debt or relinquishing it all together. Only a professional tax relief specialist can properly settle tax debt.

Gather the evidence 
Get all your ducks in a row by gathering any evidence to show you either don't owe the IRS a dime, or owe them less than they claim. Evidence will be previous and current tax returns, proof of exemptions, prior correspondence with the IRS, or previous tax debt agreements. This will provide your tax attorney with all the evidence he or she will need to support your claim. 

Get the monkey off your back
After reviewing your paperwork, your tax specialist will suggest the best plan of action for tax debt relief. This tax relief can come in the form of an affordable installment plan, applying for Non-Collectible status, an Offer in Compromise, for example. In the event your tax attorney reviews the evidence and finds you owe the IRS nothing, they will fight on your behalf to dissolve your supposed debt. 

If you need to settle tax debt, or need advice on how to begin battle with IRS, contact the professionals at Optima Tax Relief. Their attorneys have worked with individuals seeking tax relief vigilantly for over 25 years. It is important you contact Optima upon immediate receipt of a tax notice to stop IRS collection efforts immediately. 

Professional Tax Lawyers in California to the Rescue



Hiring professional tax lawyers in California can help you get tax relief. You read right, accountants can help you file your paperwork correctly and on time, but it is a tax attorney that can help you settle your tax debt with the IRS. When you feel like you have nowhere else to turn, a professional tax attorney can fight the IRS so you can attain tax-debt freedom.

Did you know the state of California has one of the highest income tax rates in the United States? Couple this with increasing federal taxes and you have a recipe for disaster. More Americans than ever are facing tax liens and levies on their assets and tangible property due to the inability to pay their overwhelming tax debt.

Hiring a lawyer may not be the first thing that comes to mind when you are faced with tax debt, but you aren't just hiring any old attorney, you are hiring an individual that specializes in tax law. The IRS employs accountants and attorneys to write notices and enforce penalties for unpaid tax debt; shouldn't you have an equally powerful defense system in place against these formidable foes?

Tax attorneys in California know tax law front to back, enabling you to fight the IRS cronies and put an end to IRS harassment If you receive a notice that the IRS wants to take a closer look at your returns and finances, it is time to contact a professional who can defend you and your assets against the IRS.

Unfortunately, not many individuals know help is out there. When they receive a bill from the IRS they are intimidated into paying what the IRS states they owe, sometimes without question. You must realize the IRS adds penalties and fines for delinquent payment of tax liabilities. If you are one of the many, these penalties and fines can be financially devastating. In today's economy, you need every penny you earn to provide for yourself and your family.

Once your tax attorney has reviewed your information and past returns, he or she will be able to decide which tax relief option is best for you. The IRS has extended relief programs and made them more attainable for Americans who are struggling financially. Your tax attorney will help you apply for a program and negotiate with the IRS on your behalf to reduce what you owe. He or she will also stop fines and penalties from accruing to your debt.

For more information on how a tax attorney can help you, contact the professionals at Optima Tax Relief. They can help you reach financial freedom from the IRS, defend you during an audit, and represent you in court should the need arise.

Friday, 8 November 2013

Knowing When It’s Time to Hire Tax Attorneys in California

Contrary to popular belief, not just big business needs to worry about the IRS anymore. Millions of Americans are scrutinized by the IRS each year. Hiring the tax professional that is right for your situation is crucial. 
Tax laws are complex. Not only the laws but the paperwork, oh the paperwork. The first step to audit is filling out the IRS's confusing paperwork incorrectly. The reason for form complexity is to trip you up, the IRS designs their forms to be near impossible to fill out correctly. This gives them more reason to gain access to your financial information through inquiry.
During tax season, it is within your best interest to hire a tax professional to deal with your paperwork and tax reporting. He or she can guide you through the process, ensuring you make no mistake on your returns. Once your return is signed, sealed, and delivered, there is no guarantee the IRS won't still pursue inquiry—in which case your attorney will handle these inquiries on your behalf, stopping the IRS in their tracks.
A tax professional can help you with much more than IRS inquiry. Professional tax lawyers in California can help you settle your tax debt. If the IRS feels you owe them money, they will purse your debt relentlessly. It is their duty to collect as much tax money as possible in order to fill the giant financial void of the Fed. If you have received a CP notice of balance due to the IRS, contact a tax attorney immediately.
Your tax attorney can help you apply for tax relief programs in order to settle your tax debt. During this process they will negotiate with the IRS on your behalf to reduce what you owe. They will also be able to free up your funds by stopping wage garnishment, lifting IRS imposed liens and levies, and put an end delinquent fine accrual.
Any type of criminal complaint filed against you by the IRS can be devastating. If the IRS feels you have been dishonest on your returns, they may accuse you of tax fraud or tax evasion. At this point the IRS will begin rigorous investigation including interrogation and seizure of your financial information. A professional tax attorney can ensure the IRS operates their investigation under the law. He or she can also make sure you do not incriminate yourself during the investigation. Once the investigation is completed, your tax attorney will represent you in court. 
At Optima Tax Relief, the best tax attorneys in California are waiting to hear from you. They are dedicated to helping you find tax relief from the IRS and will vigilantly defend you in the event of criminal inquiry. For a consultation regarding your tax situation, contact Optima today.
Devin Finley is a freelance writer and tax relief expert. Devin writes on a multitude of financial and legal topics. He enjoys collaborating and strategizing with other professionals to ensure tax & debt clients receive competent and beneficial representation. For more information Visit http://optimataxrelief.com/

Settle Tax Debt: Which Option Can Help You Get Out of Tax Debt?

After the audit, the notices start coming in, the phone calls begin, and IRS harassment is in full swing. This is a stressful time, you owe the IRS money and they will stop at nothing to get it. Once they begin tying up your finances, you wonder how you and your family will survive? Wage garnishments can be devastating and so you figure you will need to tap into your savings just to make ends meet, but then the IRS places bank levies on your accounts, essentially freezing your finances. 
Stop. Take a breath and let the dust settle for a moment. Though you feel you have nowhere to turn, there is a light at the end of the tunnel. A tax specialist can help you settle tax debt for less than you owe. You heard right, you can get out of debt and reach freedom from IRS harassment. 
They key to getting out of tax debt is finding the right tax relief specialist for you. He or she will be able to set you up with a tax settlement plan that works best for your situation. During the negotiation process, your professional tax settlement service will also be able to free up your much needed assets, releasing you from bank levies and liens as well as stopping wage garnishment. 
Tax Settlement Options:
Offer in Compromise: As part of the IRS "Fresh Start" initiative, many more Americans qualify for this type of tax relief. The Offer in Compromise program allows individuals to settle their tax debt for less than they owe. During this process your tax settlement specialist will negotiate down your debt and also have your delinquent penalties and fines erased from the bottom line.
Installment Plans: Once your tax professional has negotiated down your debt with the IRS, they will work with you and the IRS to set up an affordable payment plan. This will usually spread your debt payment out over a number of months or years so you can soon be tax debt free.
Currently Non-Collectible: If you and your family are facing financial hardship, your tax settlement specialist will recommend you apply for Non-Collectible Status with the IRS. This will stop delinquency penalties from accruing against your debt and you will owe the IRS nothing until you are deemed financially able to pay. If the clock runs out on your debt, you debt may be forgiven completely.
If you are facing crippling tax debt, contact the professional tax settlement experts at Optima Tax Relief. At Optima, we will stop IRS harassment and settle your debt for less than you owe. As part of the BBB, we are dedicated to helping our customers reach their goal of becoming tax-debt free. Call us today for a consultation.
Devin Finley is a freelance writer and tax relief expert. Devin writes on a multitude of financial and legal topics. He enjoys collaborating and strategizing with other professionals to ensure tax & debt clients receive competent and beneficial representation. For more information Visit http://optimataxrelief.com/

Professional Tax Relief and the IRS Audit

Title snippet: Your tax return runs the gauntlet of the IRS algorithm. Take really high deductions and the audit letter could be in the mail.
“A letter of reprimand is better than no mail at all.” -- old Navy saying
The foregoing wry saying might have been somewhat true before the days of e-mail and Skype. Substitute “an audit letter from the IRS,” into the concept, and “no mail at all” might be preferable.
Your first reaction before opening that official looking envelope with the IRS logo might be “Oh no!” After you open the letter, which turns out to be a notification that you’re being audited, you might exclaim, “Why me?”
Take a breath
At this point it would be wise to pause and get over the “Oh no!” part. It is what it is, and you’re definitely being audited. You should remember that embed in the IRS logo are the Scales of Justice, and you do have rights. But the upper part of the Logo is an eagle, which has the full force of an agency whose title -- Internal Revenue -- is to bring in revenue to that vast money spending behemoth, the United States Government.
High income = higher auditing rate
As to the “Why me?” part, it probably is of little comfort to you to know that less than one percent of taxpayers who earn less than $100,000 are ever audited. People in the big bucks category (one million dollars or more) according to one Forbes on line article are at least 12 times more likely to be audited.
IRS IT is old, but catches plenty
If you fall into the non-millionaire category, chances are that the IRS number crunching computers in Martinsburg, West Virginia, flagged your return as “hot.” SFGate columnist Douglas Greenburg, explains the process:
“All that number crunching results in something called a “DIF” score.  The DIF is something of an ‘Am I Hot or Not’ rating for your tax return.  Hot returns (high DIF scores) get reviewed for audit.  Cold ones (low DIF scores) continue to pass on through.”
Greenburg’s article points out that even though the IRS has improved its auditing technology, much of its IT support is underfunded and antiquated. Even though the IRS was a pioneer in data processing going back to the punch cards of the 1960s, according to a Federal News Radio piece, “the core of the IRS IT enterprise still relies on technology that's decades old.”
Dividing income into deductions is the hair trigger
According to the Greenburg article, Amir Aczel, a math professor reverse engineered the IRS computer system and came up with the following breathtakingly simple ratios of income divided by deductions claimed in Schedules A (itemized), C (Business) and F (Farm) of a tax return.
The IRS auditing computers simply look for high ratio percentages and, depending on the ratio, place your return into two zones, yellow and red. For example, if your itemized deductions on schedule A divided by your adjusted gross income is 35%, your return has a good likelihood of being audited. If the latter reaches 44%, your return is flagged and gets routed to an auditor.
Don’t procrastinate
There are other audit flags, and your letter of notification will tell you the specific reason(s) you were selected for this unwanted scrutiny. So your first step is to remain calm and responsive, and above all do not procrastinate. Procrastination will get you deeper into the powerful clutches of the world’s largest and most powerful collection agency.
You might need to “lawyer up”
Read more about the IRS auditing process online. Remember that you have the right to be treated courteously and professionally, or seek professional tax debt help. Among those rights is that you can hire a representative -- preferably a tax attorney -- whose qualifications and expertise will help you in dealing with an IRS auditor.
Let’s be honest here: IRS employees have an inherent conflict of interest. Their agency logo includes the Scales of Justice, but their job is to feed the Eagle holding those scales. If you’re looking a crippling tax bill, you really should consider hiring a qualified tax attorney, who knows everything about professional tax relief and who can also relieve the IRS auditor of the aforementioned conflict of interest.
Devin Finley is a freelance writer and tax relief expert. Devin writes on a multitude of financial and legal topics. He enjoys collaborating and strategizing with other professionals to ensure tax & debt clients receive competent and beneficial representation. For more information Visit http://optimataxrelief.com/