Unpaid individual taxes–whether unpaid IRS Form 1040 individual income taxes, unpaid state income taxes, Trust Fund Recovery Penalties or other taxes–if not addressed quickly and properly, can result in wage garnishments and levied (swept) bank accounts. In aggravated cases, they can result in the seizure of other assets such as retirement accounts or real estate. These enforced collection actions can make it difficult or impossible for individuals to meet necessary expenses for themselves and their families, such as putting food on their tables and roofs over their heads.
Fortress clients who bring us on board relatively early in the collection process and who follow our instructions will, with very few exceptions, neverhave a swept bank account, garnished wages or seized assets. There is an array of resolution strategies available to individuals who are in collections with the IRS or state taxing authorities. Our staff has extensive experience resolving individual tax debts. We can identify and implement the tax resolution strategy that is best suited to your individual needs and circumstances, and may be able to:
- Settle the individual tax debt for significantly less than the full amount;
- Reduce or eliminate penalties;
- Prevent the filing of a tax lien or secure the withdrawal or release of one that was previously filed;
- Fully or partially absolve an individual of a tax liability via the use of Innocent Spouse Relief (and other related forms of spousal relief);
- Provide a quality of representation that is superior to that of most accountants who often have very little experience resolving tax debts (which is the only thing we do). We’ve had many CPAs hire us to resolve their own unpaid taxes;
- Set up affordable repayment or settlement terms. Securing affordable payment terms can be far more challenging than it sounds in many cases;
- Assist clients in modifying their tax practices so that they don’t wind up falling behind again in the future. This is imperative, as future non-compliance will generally cause any previously negotiated resolution to default and can result in the individual being deemed a “repeat offender”;
- Release levies and garnishments;
- Prevent enforced collections;
- Buy time free from enforcement while the individual gets into compliance with the tax laws and becomes eligible for tax resolution programs;
- Appeal adverse decisions made by the taxing authorities and secure results that are favorable to the individual taxpayer.
If you have unpaid individual taxes, don’t wait to pick up the phone. Waiting can cause valuable appeal rights to lapse, and often will make the problem more difficult and expensive to fix. We’ll be happy to evaluate your situation and tell you if and how we can help. The call is free, and the chances are good that you will learn something valuable even if you choose not to work with us.