Services We Offer
After years of serving clients from all different backgrounds, we’re proud and confident in the services we provide. At Tax Break Solutions, we guide our clients through every aspect of their filing needs. Every individual’s tax situation is different and there’s always nuances. We take care of discovering all the possibilities that minimize your tax liability and maximizing your return.
As a first step, we offer a tax investigation to ensure that our client has the best program and resolution for their tax liability. We collect information from the IRS and state tax facilities along with the finanical information from the taxpayer to qualify them for the best program available.
Installment agreements allow for the taxpayer to pay their tax debt in smaller and more manageable increments. This may also be referred to as payment agreements, payment plans and payment options.
Currently Not Collectible (CNC)
Taxpayers in financial hardship can defer paying their tax liability until their situation improves. Taxpayers will need to provide information about their income and expenses in order to qualify for this status. Taxpayers who don’t qualify for this service can still have installment agreements arranged to make paying for taxes more manageable.
Offer In Compromise (OIC)
An agreement is made between the IRS and the taxpayer that settles your tax liabilities for less than the full amount that they owe. This a program that the taxpayer must qualify for and would get rejected by the IRS if they believe you have enough incoming and assets to pay for your tax liability.
Garnishment Release or Tax Levy
Garnishment, or sometimes referred to as wage garnishment, is when money is legally withheld from your paycheck. Similarly, tax levy is a legal seizure of your property to satisfy a tax debt. To be able to stop or release a garnishment or levy, the taxpayer must be in a program with the IRS to prove financial hardships. Once an agreement is made, the IRS will release the levy and/or garnishment.
Tax Lien Withdrawal
A tax lien is when the government has legal claim against your property to secure the payment of taxes as a result of neglect to pay a tax debt. Tax liens are public records, attached to your property but also listed on your credit reports. There are many methods of releasing or subordinating your federal tax lien.
Abatement is simply removing the penalties after they are assessed to the taxpayer. These penalties can be removed if the taxpayer can prove a valid excuse called “reasonable cause” for noncompliance or first-time penalty abatement.
Innocent Spouse Relief
The IRS will legally go after either spouse for taxes that are owed. Through this relief, the innocent spouse can be relieved of responsibility for paying tax, interest and penalties from their spouse depending on their circumstance.
State Tax Relief
Taxpayers will often owe taxes to the IRS as well as the state. Similar to the IRS, states will have similar tax relief programs but with their own rules and regulations. Tax Break Solutions assists clients in all 50 states to helping discover a relief program and putting it into action.
Filing or Amending Tax Returns
To get a resolution with the IRS and/or state(s), the taxpayer must be up to date on all their tax returns. We offer services for filing missing tax returns and amending tax returns sent in our actually filed by the IRS.