How To Solve Common Tax Problems

Author: Ultimate Tax Relief | | Categories: Tax Relief , Tax Resolution , Tax Resolution Services , Tax Resolution Specialist

Blog by Ultimate Tax Relief

Have you received a summons from the authorities regarding unpaid or back taxes? Do you have sleepless nights, with a shiver down your spine when you hear the words Internal Revenue Service (IRS)? 

If you answered yes, you probably have tax issues that need to be addressed. Taking care of your tax responsibilities does not just keep you compliant and help the government with income that goes towards infrastructure but also goes a long way towards lowering your tax expenditure. 

To help you save money and keep the amount you give to the IRS to an absolute minimum, the experts at Ultimate Tax Relief have put together a list to help you solve common tax problems faced by many individuals all over the United States. 

1. Avoid owing large sums of money to the IRS
While this does seem rather obvious, you’d be surprised by the number of people that seem to make this mistake. They forget that when you don’t file your returns on time, the IRS automatically takes a five percent failure-to-file penalty for every month you owe taxes. Additionally, you are also obliged to pay interest on the bill until you pay it in full. 

Keeping the amount you owe the IRS to the absolute minimum is the best way to save on penalties, fines, and levies. Contact a CPA, attorney, or enrolled agent who is a tax resolution specialist to help you resolve tax debt as soon as possible.

2. Avail of all tax credits and deductions 
The difference between the two is that a tax credit reduces the tax that is owed to the government, whereas a tax deduction reduces the income that can be considered for the computation of tax. 

Keeping track of your expenditures and remembering to claim all credit and deductions can save you thousands of dollars per year. Making the mistake of not maintaining the necessary documentation and not availing tax credits and deductions wastes resources that could be used to grow your business.

3. Get professional help in dealing with the IRS 
While the services of CPAs, enrolled agents, and tax attorneys can be considered expensive depending on the situation. The advantages tax resolution specialists bring to the table and the money they can save you hardly compare.

The best thing to do when faced with an IRS audit is to hire an expert in tax resolution so you can get the best result possible. You need to ask yourself, “would you go to court without a lawyer? Then why would you face the most brutal collection agency on the planet alone?” Don’t take a knife to a gunfight. Always hire an expert when dealing with the IRS.

For more tips on overcoming tax issues and staying compliant, reach out to Ultimate Tax Relief today! Our firm specializes in tax problem resolution, and we have an enrolled agent who can represent you before the IRS. We serve clients virtually, so don’t hesitate to reach out. Some of the services we offer include bank levy, wage garnishment, IRS audit notification, non-filing of tax returns, and much more. We serve clients across The Bronx, New York City, and all over the United States. 

To learn more about the services we offer, please click here. To get in touch with us, please click here