Call for Special COVID-19 Tax Relief Opportunities

Find out how unpaid tax collection has changed during the COVID-19 pandemic. 

Call for a free consultation
Call for a free consultation
(877) 777-7430

Tax Resolution & Tax Relief

OIC | IRS Offer in Compromise | Free Tax Help | TaxFortress

Get a Tax Pro to Settle Your IRS Tax Liability (OIC) Offer in Compromise

If you or your business have gotten behind with the IRS, a tax settlement, also known as an Offer in Compromise (OIC), might be the best way to get rid of your tax liability—if you qualify. There are three general categories of OICs: Doubt as to Liability (I don’t actually owe this tax), Effective Tax …

Get a Tax Pro to Settle Your IRS Tax Liability (OIC) Offer in Compromise Read More »

S Corporation | Penalty Abatement | S Corp | TaxFortress

Exploring the Consequences of Paying S Corporation Shareholders Unreasonably Low Wages

If you are a shareholder in an S Corporation and you also work for that S Corporation, it is critical that that you pay yourself a reasonable wage. Many S Corporation owners take little or no compensation in the form of wages and, instead, disproportionately pay themselves in the form of distributions. This can lead …

Exploring the Consequences of Paying S Corporation Shareholders Unreasonably Low Wages Read More »

IRS Installment Agreement | Notice of Default | CP523 | TaxFortress

IRS Installment Agreement Defaults

OK, so you’ve negotiated an IRS Installment Agreement for your IRS tax liability, and can finally breathe easy because you will not have to deal with your Revenue Officer anymore. Time to celebrate, right? Not so fast. IRS employees frequently tell me that the vast majority of Installment Agreements default before the balance is paid …

IRS Installment Agreement Defaults Read More »

Notice of Federal Tax Lien | Certificate of Discharge | TaxFortress

How to Sell an Asset That is Subject to a Notice of Federal Tax Lien

If you owe taxes to the IRS, a tax lien automatically arises against you and attaches to just about everything you own.  This is sometimes called a secret lien since the government’s claim does not initially appear in any public records.  Rather, the lien automatically comes into existence when the tax liability is assessed.  Eventually, …

How to Sell an Asset That is Subject to a Notice of Federal Tax Lien Read More »

1040 | Penalty Abatement | Failure to Pay Penalty | TaxFortress

It’s Almost April 15th, and I Can’t Pay My 1040 Tax. What Do I Do?

April 15th is right around the corner, and if you expect to owe 1040 income tax, but don’t have the resources with which to pay it, you are in the same boat as many Americans.  First of all, don’t panic.  Federal officers are not going to show up at your home on April 16th to …

It’s Almost April 15th, and I Can’t Pay My 1040 Tax. What Do I Do? Read More »

IRS Offer in Compromise | Fresh Start Initiative | Form 656

IRS Offer in Compromise: Common Challenges to Approval

You have read the Form 656, IRS Offer in Compromise booklet, the rules under the Fresh Start Initiative, and perhaps even hired an attorney or other representative to help you submit your Offer in Compromise to the IRS.  You feel you have sent in a complete Offer, with all documentation attached.  You feel the IRS should …

IRS Offer in Compromise: Common Challenges to Approval Read More »

EFTPS | Electronic Federal Tax Payment System | IRS Form 941

Payroll Tax Deposits | 941 Employer Taxes

Starting a new business comes with an enormous amount of responsibilities.  One of the most commonly overlooked, though, is the responsibility to learn how, when, and why to report different types of taxes the business may be obligated to pay and file.  Payroll taxes, also known as employer withholding taxes or 941 taxes, are among …

Payroll Tax Deposits | 941 Employer Taxes Read More »

IRS Garnishment | Will The IRS Garnish My Wages | IRS Levy

Will the IRS Garnish My Wages?

Question:  Will the IRS garnish my wages or Levy my wages? How can I avoid this? Answer: In order to answer this question effectively, some background and definitions with regards to IRS procedures are warranted.  A levy on wages is where the IRS effectively takes a portion of ones wages and applies it to the …

Will the IRS Garnish My Wages? Read More »

941 Tax | IRC 6672 | Trust Fund Recovery | TaxFortress

Personal Liability for Unpaid Employer Withholding Taxes

Can I be held personally liable for unpaid 941 employer withholding taxes?  What can be done to avoid this/protect personal assets/income? If you are an owner, officer, check-signer or decision-maker at a business that is behind on 941 taxes, you are at risk of being personally assessed with a penalty – called the Trust Fund …

Personal Liability for Unpaid Employer Withholding Taxes Read More »

IRS Payment Plan | Installment Agreement | TaxFortress

IRS Payment Plan & Installment Agreements

Any time a taxpayer incurs a balance due to the IRS, the IRS’s first response is almost invariably to demand that the debt be fully paid, immediately.  However, in many situations, the taxpayer does not have the ability to fully and immediately pay the tax debt.  This inability to quickly resolve the liability can lead …

IRS Payment Plan & Installment Agreements Read More »

IRS Asset Seizure | Tax Levy | Notice of Levy | TaxFortress

Notice of Levy: Will the IRS Seize Assets or Force the Sale of Them?

Will the IRS take your assets or force you to liquidate assets in order to satisfy your IRS back tax liability? The IRS can, with a few limited exemptions, seize your assets to satisfy your IRS back taxes. However, if you have competent legal representation, this should not happen to you unless every other collection …

Notice of Levy: Will the IRS Seize Assets or Force the Sale of Them? Read More »