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If you owe back payroll taxes the IRS can assess the trust fund penalty against any person or persons responsible for paying the 941 back payroll taxes. Under authority of 6672 of the IRS code the IRS can collect money from those responsible.
As a former IRS agent and teaching instructor you need to understand that IRS as a top priority is unpaid back payroll taxes because the reality is it is not actually a tax, but money held in trust for the United States government.
With that in mind, the government has issued refunds on anyone who is submitted their tax returns with the W-2. One of the first priorities of the IRS and the federal government is to collect these 941 unpaid payroll taxes and if they are not paid the government will go after those responsible for the payroll taxes which is now deemed trust fund taxes.
The IRS works trust on cases just like they work individuals who have not paid back taxes on 1040s.
If the IRS has found you a responsible person for the trust fund penalty, call us today for free initial tax consultation and we will walk you through the process of resolving this taxed at once and for all.
There are various options you have for tax relief.
First of all we need to look to find out if you were truly responsible under 6672 of the IRS code.
We will conduct a review to find out if there is any way that we can appeal for change the assessment of this trust fund tax.
If you are responsible for the tax, IRS will take a current financial statement and make a determination based on the collectibility of the tax.
How the Internal Revenue Service will work your case if you owe the tax debt.
IRS will require a 433A, 433B, an individual & business financial statement. You can find that form directly on our website.
That financial statement will need to be fully documented along with bank statements, copies of checks and monthly expenses.
Once IRS reviews your current financial statement they will make a determination and generally put you in one of two categories with the option of filing an offer in compromise.
IRS determines on 40% of the cases that taxpayers are put into hardship which means they can’t pay the tax at this time.
Sometimes it is called currently not collectible. Cases that are placed at currently not collectible or hardship stay in there for a period of 2 to 3 years and come back out to the field at a later time.
2. 6.5 million people enter monthly payment plans and pay a certain amount based on their current documented financial statement.
Other taxpayers file an offer in compromise to settle their case for pennies on the dollar. the offer in compromise requires a lot of skill and expertise to have accepted by the Internal Revenue Service.
The reason I know I am a former IRS agent and teaching instructor of the offer in compromise. I’m a true expert when it comes to the acceptances of offer in compromise. we will carefully review your case to find out if you are an acceptable candidate.
Before you go filing for offer in compromise find out if you are a qualified candidate and walked to the pre-qualifier tool.
Call us today for a free initial tax consultation and we will go through the various remedies to go ahead and relieve you of your tax better manage it in the best way possible.
We are a full service tax firm with a specialty in all IRS and state tax matters.
Owe IRS Trust Fund/Payroll Taxes + Settle IRS Tax Debt + Offer in Compromise + Appeal Options