How does it work?

Nobody likes being audited! Unfortunately, many individuals still have to deal with it, and many of them respond in the most ineffective way possible: ignoring it. The problem will not go away on its own, and the longer you wait, the worse it will become. IRS audits are the process of calculating all of your tax liabilities, including all penalties and interest. If this is happening to you, seek help right away! Our team can represent you throughout the entire audit process.

You might be wondering whether or not hiring someone to help you with your tax audit is necessary. It isn’t, BUT it is typically not advisable to do an audit on your own. Getting IRS and State audit representation will provide you with not just relief, but also help with:

• Identifying the problems with the audit
• Processing of papers and documentation
• Negotiation of a plan for resolving a tax debt
• Defending your rights as a taxpayer

If you’re looking for the right kind of representation, call ETS Tax Relief and get the help you need today!

How does it work?

Financial statement audits are increasingly likely to include cryptocurrency transactions. The lack of legislation and guidance around cryptocurrency increases the risk of making a mistake. Because of the potential complications with this fairly new currency, it’s important for individuals and businesses to have the right representation whenever an auditor comes knocking. The problem will not go away on its own, and the longer you wait, the worse it will become.

Without reporting and validating your keys, the IRS has the power to summon you, come for you, or even charge you with fraud. The fact is that you can’t hide your cryptocurrency activity.

ETS Tax Relief will help you get through a cryptocurrency audit. Some of the things we do when representing you are:

• Review the problematic tax returns
• Calculate income, gains, losses, and cost basis
• Recreate transaction records
• Submit the revised tax returns

If you are being audited, seek help right away! We’ll guide you through the entire audit process.

How does it work?

With an IRS payment plan, you can negotiate a monthly payment that fits your needs instead of paying back your taxes in a hefty lump sum. Moreover, qualifying for a payment plan can put an end to all collection calls, levies, and garnishments.

Your taxpayer history is the most important factor in determining which type of IRS payment plan you qualify for. If you’ve previously negotiated a payment plan with the IRS that didn’t work out, the IRS may be less willing to give you another chance.

The IRS is normally prohibited from levying when you request a payment plan, and the IRS’s time to collect is suspended or extended while an installment agreement is underway. A request for a payment plan is frequently held in limbo until it is examined and a payment plan is formed, or until the request is withdrawn or refused. If the desired payment plan is rejected, the collecting period will be paused for 30 days. Similarly, if you fall behind on your plan and the IRS suggests terminating your installment agreement, the collection process is paused for 30 days.

Many people find it difficult to cope with a large tax burden. If you’re struggling to pay back the amount the IRS says you owe, give us a call! We can get you a better option.

How does it work?

Failing to meet tax deadlines can cause a lot of trouble, especially if the IRS starts adding fines. Fortunately, the IRS offers tax penalty relief to people who have been unable to pay their taxes due to unforeseen circumstances. A penalty abatement is one type of tax relief you can get. If you can prove that you have reasonable grounds, you may be able to get your penalties reduced. We can help you determine if you are eligible for a penalty abatement.

In most cases, a lack of finances is not a valid reason for a waiver. The reasons why you don’t have enough money, on the other hand, may fulfill the fee waiver conditions. To be eligible for the first-time penalty reduction, you must meet the following requirements:

• You haven’t had any penalties or been requested to file a tax return in the three years prior to receiving the penalty;
• You’ve submitted all of your required tax returns, or you’ve requested an extension; and
• You paid your taxes in full or made arrangements to settle your tax debt (payment plan).

Proving that you meet all the requirements is already a feat to accomplish on your own, but with ETS Tax Relief on your side, you have the best chance at succeeding.

How Does it Work?

A tax lien is when the IRS files a public document notifying your creditors that they are placing a claim on your property. This means that when the property is sold, the proceeds go to pay your tax debt. Nothing happens to the property itself, but the IRS has staked its claim. This means you will need to get the lien removed in order to sell your property.

A tax levy is when the IRS actually takes the property. The most common form of a levy is a wage garnishment. However, the IRS can levy any type of property – a home, car, or anything else you own.

A lien usually comes before a levy. If you’ve been notified that the IRS is going to file a tax lien, you need to get help as soon as possible. With a levy, this is even more urgent!

How Does it Work?

A wage garnishment happens when a creditor forces your employer to deduct money from your salary. Your company will then pay the portion of your salary withheld to the person or entity to whom you owe money. A court order may be required for some garnishments. However, there is no need for a court order to begin garnishing your wages for federal student loans, overdue taxes, or child support.

Before the wage garnishment occurs, you should be notified. The IRS will send you letters informing you of their forthcoming activities. These warnings will also provide you enough opportunity to correct the issue before the garnishment starts. A wage garnishment usually doesn’t end until you pay off the entire debt. This total will include any interest, penalties, and collection costs accrued over the course of the loan, in addition to your debt.

How does it work?

Not everyone can qualify for an OIC. The IRS has rigid criteria for determining who is qualified for tax forgiveness. The first thing they look at is your motivation for applying. The IRS will only accept an offer in compromise if it is for one of the following reasons:

• There is doubt as to whether the IRS calculated the amount you owe accurately.
• There is doubt as to whether the debt is fully collectible. This indicates that your assets and income are less than what you owe.
• The debt is correct, and you can pay it off in full, but doing so would put you in a lot of financial trouble.

Proving your eligibility for an OIC isn’t easy, but the reward is significant! If you think you may quality for the offer in compromise program, call us today and we’ll get the process started.

How Does it Work?

Individuals and businesses who do not submit or pay their taxes face severe fines. Many people opt not to file because they are unable to pay their debts. However, not filing will aggravate the situation much more than if you submit a tax return and don’t pay your debt.

When you don’t file your taxes, the IRS does it for you. The records will, more often than not, reflect that you have a lot larger liability than you actually have!

As far as the penalties you’re facing, when there is no fraud or carelessness, the standard failure to submit penalty is 5% per month on the total tax debt payable. This penalty begins the day after the tax return is due. When fraud or incompetence is involved, the percentage rises to 15%.

ETS can submit your taxes for you, even if it’s years beyond the due date, to save you from falling even deeper into tax debt. Don’t wait for the penalties to pile up – call ETS Tax Relief now!