Business Tax Issues

Back Taxes

There are many reasons that you may owe back taxes. You might have experienced times where you had cash flow problems. Your business may have had some unexpected expenses such as building maintenance and repairs. Perhaps, unforeseen operational supplies increased dramatically. Unfortunately, while these situations are legitimate and they may have occurred. Ultimately, you are still responsible for paying your tax debt. 

Business owners can find themselves in a crunch facing financial struggles too. You may think that there is no harm if you postpone paying your taxes until the following year. However, your economic situation may not change. Before you know it, you are a few years behind in paying your taxes. Regrettably, you soon find yourself receiving a collection letter from that IRS stating that you owe three to four times your original amount. You might be surprised to learn how quickly penalties and interest add up. Hopefully, this may get your attention. The IRS will not just disappear even if you choose to ignore them.

Don’t let the IRS intimidate you. Start Fresh Tax Relief is your dedicated partner to help you resolve your back taxes once and for all. We have several options to bring you current on your tax debt.

Unfiled Tax Returns

It’s not uncommon for business owners to have failed to file their tax returns. More often than not, it’s an undesirable outcome. No business owner enjoys writing a big check to the IRS. Unfortunately, you can not avoid filing your tax returns. The IRS is a powerful government entity. They continue to implement stricter laws and will not hesitate to come after you with more sophisticated measures. 

It is your obligation as a business owner to file your tax returns. If you choose to simply ignore it, you will soon realize that it was a dire mistake. Failure to file your tax returns is a criminal offense. The penalties continue to increase for each year your returns are not filed. The reality is that your failure to file tax returns is a serious matter that is punishable by penalties and potential jail time. Is it worth losing everything that matters to you because of your failure to file your tax returns?

Start Fresh Tax Relief can help business owners file overdue tax returns regardless if your records are missing or unorganized. We can help you get caught up with delinquent returns and avoid paying outrageous penalties. More importantly, our tax experts will help you reconcile any outstanding tax obligations with the IRS.

IRS Audit Help

As a business owner, you have many obligations in addition to adhering to the federal government’s laws and regulations. You may feel that you have filed your taxes with integrity and extreme caution. However, you receive an IRS Audit Notice in the mail one day and suddenly have a panic attack. How will you handle an IRS Audit? What records do you need? How will you prepare for it? Do you even have the slightest idea?

Start Fresh Tax Relief will provide you the help and support you need. We have extensive experience dealing with the IRS during a tax audit. We stay informed of IRS’ specific rules its agents must follow while auditing your tax return. Better yet, we have a clear understanding of those rules. Our responsibility is to represent you at your IRS audit ensuring you receive every legally deductible expense available to you. Start Fresh Tax Relief will advocate for you and effectively address any questions that the IRS may have; therefore putting their minds to ease.

IRS Liens

Federal Tax Liens may seem foreign to you but this is how the IRS wants you to know that they are serious about you honoring your tax obligation. When your taxes are still outstanding, the IRS establishes a lien against all of your assets, especially your real estate. A lien gives the IRS the legal right to collect taxes from the sale of your assets, which includes most of your possessions. 

The lien that was executed by the IRS can be against you, your spouse or your company. A lien against your business would even seize your accounts receivables. As dreadful as it is, all your assets can be involuntarily taken away and become the property of the United States Government.

Liens filed against you by the IRS can have many devastating personal effects. Furthermore, it appears on your credit report, preventing you from opening a checking account or borrowing against any assets, like your home. A Federal Tax lien on your record likely can cause skyrocket high interest rates. It will make purchasing a car or home nearly impossible.

IRS Levies

Consider yourself a law abiding citizen if you have never run across the word, levy. Levies are your worst nightmares, probably something you never want to encounter in your lifetime. A levy is the IRS’s extreme measure of capturing your attention. If you are experiencing a levy, that means that the IRS has attempted to communicate with you but you have not responded to them. Levies are meant to be destructive and damaging. Levies are deliberately used to seize all of your assets. If you rightfully own an asset, the IRS can take it from bank accounts, stocks, bonds, cars, boats, paychecks and even Social Security checks. Nothing is off limits. 

The IRS is ruthless and looking out for their best interests only. You may wake up one morning and realize that all of your bank accounts have been emptied out. The IRS will take every penny you have. They will not stop collecting until they have recovered your entire tax debt. The IRS has every intention to harassas you and embarrass you until they collect all of what is owed to them.

We at Start Fresh Tax Relief are committed to helping our business owners navigate through their financial hardships in order for them to get a new start.