IRS Federal Tax Liens - Solutions
Because Federal Tax Liens are public records, they will show up on your credit report. This type of IRS problem makes it difficult or impossible for a taxpayer to obtain any financing, even for an automobile or a home. The IRS will be in 2nd or 3rd lien position on existing loans. On new loans or refinanced loans the IRS will be in 1st lien position. No lender wants to be second behind the IRS when it comes to lending you money. Shields Tax Consulting attorneys will negotiate a Subordination of Lien Position for you if you are trying reduce your debt load by restructuring your current home loan, buying a new property or borrowing against a property you already own.
In addition, Federal Tax Liens can tie up your personal property and real estate. Once a Federal Tax Lien is filed against your property, you cannot sell or transfer the property without having the lien removed so that you can transfer a clear title. The IRS will take all of the proceeds of the sale of your property regardless of your agreements with Realtors, Title Agents, contractors, etc. Having the competent representation that the Shields Tax Consulting team will provide is critical for the successful sale of real property while under Federal Tax Lien.
Levies & Garnishments - Solutions
If you are currently under levy call 1-800-685-1340 or fill out the Contact Form immediately.
Levy clients are given the highest priority at Shields Tax Consulting. Our tax attorneys will immediately file the proper CAP or 911 CAP appeals to get your levy lifted and allow you to get your bills and expenses paid and your debt settled. If the levy action is due to missing filings we will contact the Automated Collection Services (ACS) to get the levy lifted while we work to prepare and submit your missing tax filings.
In most cases a Shields Tax Consulting attorney can get a garnishment lifted simply by filing their Power of Attorney and making contact with the Revenue Officer or ACS Representative in charge of your case. Often times a wage garnishment is in place against you because the IRS has not been able to make contact with you.
Shields Tax Consulting will also work with your employer or HR department to get your full wages back to you in the quickest time possible.
Unfiled Tax Returns - Solutions
Shields Tax Consulting’s team of experienced professionals will immediately contact the branch of the IRS that handles non-compliant (unfilled) taxpayers. That unit is called the Automated Collections Service, or ACS. Shields Tax Consulting attorney will get an immediate Stay of Aggressive Enforcement. Our CPA’s will obtain most of your IRS information for you. You do not need to waste time searching for things such as Wage & Income statements, W-2 statements, 1099 statements, Mortgage Interest statements, Stock & Bond information, Real Property Closing Statements (HUD-1), bank statements, credit card statements, IRA or Retirement Fund information and many more documents that go into preparing back returns. We will put together everything needed to complete your missing filings no matter how far back they go. Our CPA’s only prepare back tax filings so they are extremely knowledgeable about U.S. Tax Code going back decades. They have all of the necessary IRS tax forms and they will work within the time frame given to us by the IRS to get those missing returns in and reviewed. Often times the amount that the IRS was originally claiming goes down significantly once all deductions are applied and you are given credit for tax refunds and stimulus money. Once missing returns are in the Shields Tax Consulting team can begin to negotiate the amount owed and the terms in which you want to pay it back.
Delinquent Payroll Taxes (940 & 941) - Solutions
We will protect the business and personal bank accounts and the assets of the company. We will ensure that the IRS does not issue any Client or Receivable Levies. These can be devastating for your business’ future well being. More importantly we will keep the IRS from closing your doors and liquidating your assets. If you operate as a corporation there a number of options available to you that will reduce the amount owed to the simple Trust portion of the debt. If you operate as a non corporate entity (Sole Proprietor, LLC or Partnership) the IRS will attempt to collect on you personally to satisfy the business tax liability. We will keep the IRS focus on the business and not you personally. Our CPA’s will review all of your company finances and practices and make recommendations on how to stay current with the IRS and your creditors. As a business owner you know the value of finding an “A” rated BBB firm to partner up with to accomplish a task, complete a project or solve a problem. Shields Tax Consulting will be that partner and can solve your IRS problems. We can coordinate with your current CPA so this matter is handled and the business is once again current, compliant and successful.
Penalties and Interest - Solutions
If a taxpayer does not qualify for a reduction of their tax debt through the offer in Compromise program then Shields Tax Consulting will automatically submit a Claim for Refund and Request for Abatement (Form 843). In a case where the reason for falling behind is deemed “out of the hands of the taxpayer” the debt will most likely be reduced with no further action.
If the reason for falling behind is due to normal day to day circumstances then a Shields Tax Consulting attorney will file formal a petition and request a hearing for Penalty Abatement. In these cases the Shields Tax Team will cite case precedent within the IRS. This process is much like a trial. If we can prove the IRS gave relief to a previous taxpayer then they must give it to our client – YOU!