Frequently Asked Questions
Lien: The first step taxing authorities take to secure the debt, and enable them to pursue your assets and income. Call us now to hear what we can do about the lien, and what it means to you, your credit score, or your business.
Levy: The act of seizing bank accounts, wages, receivables, and even funds flowing through merchant services accounts. Most of the time, levy action can be prevented by swift action on your part in getting good help, and our part by taking the proper steps to prevent it from happening or reversing it after it has already taken place.
If you can afford to pay the taxes, do so. If you cannot pay the taxes in the amounts and within the time frame demanded, you need to protect your assets from collection. Once this is done you need to negotiate a payment arrangement, an Offer in Compromise, an uncollectible status, or some other agreed upon arrangement, which MUST be in writing to be honored by the IRS or state taxing authorities.
Yes, Larson Financial can help release both IRS and state issued bank levies and wage garnishments. If you have been threatened with a garnishment do not wait for it to happed because it will happen. It’s easier to prevent a garnishment than to get one reversed and the money returned to you, but we can release and reverse a garnishment.
It is very unusual for people to see jail time due to taxes. The IRS is more interested in money than punitive actions. The exception is in cases of fraud or willful evasion of taxes. So long as you are not signing egregiously fraudulent tax returns, you should not worry about going to jail for taxes.
Yes we can. Larson Tax will perform a discovery for every client to evaluate their situation, and use our findings as a starting point to determine the immediate course of action to protect you, and fix the issue. Even if you are not a client yet, and would like to know if you have a tax liability of substance, our firm will perform a discovery to determine if you are in need of our help or not. There is no charge for this service, provided you believe you could owe $8000 or more in back taxes.
Many times what the government is claiming you owe is dramatically inflated, and much higher than what is truly owed. Our firm will guide and assist all clients in arriving at a real number of what is truly owed per statutes.
We can do this for you. Three things are certain with the government: paperwork, procedures and deadlines. But it’s tough to know who to contact and how to ask the right questions without accelerating their collection efforts. Larson Tax Relief makes it simple by handling all of the paperwork, understanding the procedures and clarifying deadlines. Upon hiring our firm, we will immediately contact the IRS and/or state to determine where you stand in the collection process, and inform you of our findings.
Legally, your accountant and regular attorney may represent you in regards to your state or federal tax issues. In reality, this is usually not your best option. It’s a matter of specialty. Unless tax relief negotiations are their core business, they are not experts in it. Just as you wouldn’t hire Larson Tax Relief to do your general legal work it doesn’t make sense to hire a non-specialist to do your tax relief work, where the stakes are very high.
The IRS and some states have a program that allows you to settle your tax debt for less than is owed. The IRS calls this an Offer in Compromise. If you qualify you may be able to pay less than you own. The IRS, however, isn’t know for giving gifts and very few people qualify under the stringent standards in place. Also, be aware that many companies advertise that they can settle your taxes for "pennies on the dollar" when in fact there is zero chance of getting a reduction. Contact Larson Tax Relief to learn if this option can work for you.
The IRS is very centralized, with a few main offices covering a large territory. They actually prefer to work by phone, fax and via mail than to have time-consuming travel for face-to-face meetings. We seldom ever physically meet with the IRS. As such, our approach saves both the IRS and our clients’ valuable time and money. Because of our expertise in collection procedures, we can effectively communicate with revenue officers across the country.
Yes. There is nothing preventing you from doing so. In fact, we highly recommend doing so as soon as you know you are behind on taxes. But, if you have procrastinated and have had a tax lien filed or a threat of levy or garnishment, it may be too late. Professional advice will help you determine the best course of action for your situation. Keep in mind that taxes are not a good "do-it-yourself" project.
Even if you do not have the money to pay your taxes at the time the tax filing is due, always file your taxes on time.
Missing deadlines with the IRS or state taxing authorities almost always makes matters worse. You may be charged with additional fines, and also incite enforced collections such as bank levies and wage garnishments.
There is nothing preventing you from doing so. But keep in mind that the revenue officer works for the government, not you, and had the government’s best interests in mind, not yours.