7 Common IRS Concerns!

At Prospective Bookkeeping & Taxes, we specialize in a wide variety of financial services ranging from tax preparation, bookkeeping and getting loans, to tax planning and tax resolution services. As a company that has helped many with past due taxes, late filings, IRS notices, we understand that getting help with debt is not always easy. If you forgot to file money from a 401k withdrawal, haven't file taxes in years, owe a past due tax debit, we can help! There are many options availability to taxpayers. So, before you let IRS debt overwhelm you, let us assist you!

Common Concerns We Can Assist With:

• I received a notice from the IRS: Sending notices is a very common practice for the IRS. Maybe you’re being notified of delays processing your return, maybe the IRS is simply requesting more information or letting you know there is a balance due. Regardless, there is no need to panic. Simply follow the instructions on the notice and if you have any questions, give me a call.

• I owe the IRS but don’t know how I will pay it: Don’t worry. There are many payment options available for settling your debt with the IRS ranging from setting up an Installment Agreement, applying for an Offer in Compromise, or reaching a Currently Not Collectible status. The best option for you will depend on your unique financial situation so don’t be afraid to reach out if you need guidance.

• I don’t know what taxes my business owes under the CARES Act: Many businesses have questions regarding the complexities of the Paycheck Protection Program and I can help you make sense of it all. Call or email to set up an appointment ASAP so that we can mitigate any surprises down the line.

• I’m collecting unemployment and need clarification regarding taxes withheld: You’re certainly not alone. If you’re collecting unemployment, let’s set up a time to chat. It’s correct to be proactive and ask questions at this time.

• I still need to file my tax return or past returns: Let’s take care of that! The longer we wait to file those returns, the more serious the penalties can be. Filing late is always better than not filing at all so contact me today and we’ll get everything straightened out.

• I am considering bankruptcy for myself or my business: Filing for bankruptcy is not only a very personal journey, but it is also a highly strategic decision. It’s important to have professional guidance and counsel before, during, and after the process. Do not hesitate to reach out if you or your bankruptcy attorney have questions regarding dischargeable taxes or additional options you might have.

Contact us 512-354-7878 or email taxresolution@prospectivebooks.com