TOP IRS tax resolution tips – 3 things you can do for 2018
Do you owe tax debt going into 2018? This is a great time to commit to a resolution and get out of the doghouse with Uncle Sam. Consider these three top IRS tax resolution tips to get a head start:
- File on time or get an extension
Always file on time! For 2018, personal tax returns for tax year 2017 are due by April 17, 2018 and filings for extensions are due October 15, 2018.
Most taxpayers that have tax debt believe that if they can’t pay off what they owe, then what is the point in filing. This should not be a reason not to file. You are way worse off not filing and here is why: the IRS tacks on failure to file penalties AND failure to pay penalties. So, it is a good idea to at least file to eliminate the failure to file penalties.
Penalties are pretty nasty and can easily comprise most of your tax debt. They are based upon what you owe and the amount of time that has passed from when a return or payment was due. That means that the sooner you file, the better – even if you can’t pay. Filing also helps you so you know what you actually owe and it starts the statute of limitations on the IRS collection statute.
- Open your mail and contact the IRS if necessary
It is not unusual for many taxpayers to ignore any type of mail from the IRS. Many do not want to face the threatening letters and just let them pile up in the corner (note: make sure they are not fake or fraudulent IRS letters). This is the worst thing you can do. Most of the time, it’s not that bad. Generally, the issues can be fixed pretty quickly and if not, a resolution is always available.
If you do not understand something in your tax notice or simply disagree, do not be afraid to call the IRS for clarification. It is impossible to resolve your tax problems if you cannot make this important step. And, if you do not want to hassle with the IRS at all, just hire an experienced tax attorney to take over.
If you do decide to contact the IRS, be sure to have your notice in hand. On the notice, there is generally an address and phone number of who you should call. If you cannot find your notice, you can always call the IRS at 1.800.829.1040, Monday – Friday, 7:00 a.m. – 7:00 p.m.
- Hire a great tax advisor for prevention and tax attorney for tax resolution
To prevent IRS tax problems and keep you on track, it is a great idea to have a great tax advisor on hand. It is best to have someone reliable for the long run, who will hold themselves responsible if something goes wrong.
If you end up owing taxes and cannot pay it all off, you may need someone to help you out if you run into trouble in resolving the issues. The best professional to call is an experienced tax attorney for tax resolution. You want someone who understands your personal situation along with your tax issues that can negotiate and communicate well with the IRS to resolve your tax matters.
If you cannot pay your IRS tax debt all at once, do not give up thinking it must be all or nothing. Keep IRS collections at bay from liens, levies, and other collections activities by hiring a tax attorney and working out a resolution, such as a payment plan or offer in compromise.
A tax attorney can also assist you in figuring out what you are doing that is causing you to run into these tax problems. There may be some big or even small changes that need to be made. Some of the common problems include: withholding and claiming the correct number of exemptions, incorrect filing status, overlooking deductions or claiming them wrongly, and underreporting of income (including foreign income).
Taxpayers needing assistance in dealing with IRS tax problems should seek the advice of a knowledgeable tax attorney. The San Diego Tax Attorneys at Delia Law have many years of tax resolution experience and will competently represent you before the IRS. Please call for a no-cost tax attorney consultation for tax resolution at (619) 639-3336. We look forward to helping you.
This blog post is not intended as legal advice and should be considered general information only.
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