The tax resolution experts at Victory Tax Solutions would be honored to serve you and earn your trust, while saving you the most money and resolving your IRS debt in the shortest amount of time possible.
Falling behind on tax payments to the IRS and/or state tax authorities is something that millions of Americans have dealt with at one time or another. The IRS is the worlds largest collection agency. As a result, the IRS can be very intimidating. Moreover, tax debt can be devastating to a person’s finances, livelihood, and well-being.
Taxpayers who find themselves in tax debt are often unaware of where to start, who to turn to, what programs are offered, and what their rights as a US citizen and taxpayer are. Unfortunately, consumers decide to apply for programs they may not qualify for, which frequently leaves them in an even worse tax debt situation.
There are many IRS programs that help with different tax debt situations. Tax programs can greatly lower a tax debt, and protect against aggressive collection action. While it is recommended for taxpayers to pay off their entire tax debt, many taxpayers are just unable to do so, and therefore, tax debt agreements are the best way to avoid added interest and penalties, and IRS collection actions.
Victory Tax Solutions, led by its experienced team of tax attorneys can help you reach a tax relief agreement with the IRS. Using proven strategies, our knowledgeable experts can assist you through tax audits, file unfiled tax returns, help reduce your tax debt, and stop wage garnishments and bank levies from occurring or continuing. In some cases, you may be able to settle tax debts for much less than was originally owed. The tax resolution experts at Victory Tax Solutions would be honored to serve you and earn your trust, while saving you the most money and resolving your IRS debt in the shortest amount of time possible.
PREPARE & FILE TAX RETURNS
Preparing your own income tax return can be a task that leaves you with more questions than answers. According to a study released by the US Government’s General Accounting Office last year, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer.
Whether we like it or not, today’s tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there’s no substitute for the assistance of an experienced tax professional.
Victory’s income tax preparation services give you great service the way it’s meant to be: friendly, accurate and with a money back guarantee. When you come to us with your tax return, relax and let a member of the Victory Tax professional team take care of identifying and delivering the largest tax refund for which you are eligible.
Your current year tax return can be filed electronically so you will get a refund back quickly. Every tax preparer on our team has undergone thorough training in both state and federal tax structures. We know the tax code, and we know how it applies to you. Now let us use that knowledge to get you the refund you deserve, or possibly save you money by finding tax breaks.
No matter how complex your tax situation, our professional tax service team is ready to help you. We can assist with your standard income tax return, but we’re also well versed in the complexities of self-employment, home-based businesses, and more. We’re available for you throughout the year when you need to file estimated tax payments or when you have tax questions. Friendly, knowledgeable tax experts and results you can trust: that’s the Victory Tax guarantee.
OFFER IN COMPROMISE
What do you do when you can’t afford to pay the IRS or they are threatening a wage garnishment? An Offer in Compromise may be an option for you, and our tax experts can help determine if an Offer in Compromise is right for you.
If you qualify, an Offer in Compromise is an agreement between you and the IRS to resolve your tax debt for less than you owe. The IRS has the authority to reduce or settle tax liabilities, when certain financial conditions exist. Most commonly, it happens when the IRS deems the taxpayer unlikely to be able to pay the full liability prior to the expiration of the collection statute. An Offer in Compromise reflects what the taxpayer could realistically pay.
When our team of tax professionals negotiate an Offer in Compromise, our clients can have peace of mind, knowing that they and the IRS have come to a reasonable resolution. According to government documents, in 2007, through Offers in Compromise, the IRS collected 17 cents for every $1 owed.
At Victory Tax Solutions, we will take on the burden of dealing with the IRS for you. Our team is highly experienced and well qualified to help negotiate an Offer in Compromise for our clients qualifying for the program.
An Offer in Compromise program is very complex and time-consuming requiring our experts to work with you and the IRS for 6-24 months. However, when you hire Victory Tax Solutions, you can rest assured knowing that our tax team has the experience you need when dealing with the IRS.
CURRENTLY NOT COLLECTIBLE
One possible way to get out of your tax debt is to be declared “currently not collectible.” The IRS can declare you as currently not collectible after reviewing evidence showing that you are unable to pay the tax you owe. As soon as the IRS determines that you are currently not collectible, the IRS must immediately stop all collection activities including levies and garnishments.
While you are in the currently not collectible status, the 10-year statute of limitation on tax debt collection continues to run. If the IRS cannot collect the tax you owe within the 10-year statutory period, then your tax debt will expire and you’ll owe nothing to the IRS.
A taxpayer facing significant hardships or tax debt burdens should seek the advice of a tax professional such as Victory Tax Solutions.
At Victory Tax Solutions, we have an excellent track record in resolving tax disputes through currently not collectible relief. We can negotiate with the IRS for you to have the IRS agree to stop their collection actions until you get back on your feet. Once the Victory team has successfully attained currently not collectible status, you won’t have to worry about the IRS taking your salary, bank accounts, car or even your home to pay the debt.
REDUCE IRS PENALTIES
If you don’t pay back taxes, it can result in IRS penalties, and interest can compound over time, making your tax debt substantially larger. Your goal should be to reduce IRS penalties. Non-payment of tax debt can result in IRS penalties and interest, a levy on your wages or bank account, a lien against your property, or even a seizure of your assets.
If you work with Victory Tax Solutions and reduce IRS penalties, you could avoid penalties of generally 5% each month.
To determine if you are eligible to reduce IRS penalties, our resolution specialist will carefully work with you to examine you situation. To submit a request to reduce IRS penalties, a taxpayer must have reasonable cause that is specific for each year and must be able to explain why the penalties should be removed. We can help.
Victory Tax Solutions can help determine if you meet any of the following six main conditions under which we can reduce IRS penalties:
- Death or serious illness of the taxpayer or member of his/her immediate family.
- Unavoidable absence of the taxpayer.
- Destruction by fire or other casualty of the taxpayer’s place of business or business records.
- Inability to determine amount of deposit or tax due.
- Inability to make deposits or payments due to civil disturbances.
- Lack of funds despite the exercise of ordinary business care and prudence.
- Our resolution specialists can help you determine if you fit within one of these categories to reduce IRS penalties and the Victory Tax Solutions Team may be able to help you stop the cycle of IRS penalties by using our Tax Team to negotiate a reduced IRS penalty for you.
TAX INSTALLMENT AGREEMENTS
If our clients are not financially able to pay their tax debts in full, Victory Tax Solutions’ team of Tax Attorneys, CPA’s and Enrolled Agents, can help our clients with Installment Agreements. You will have a dedicated team to determine whether the Streamline Agreement or the Long-Term Agreement is best.
The Streamline Agreement
Victory Tax Solutions helps our clients obtain a Streamline Agreement when it is the most appropriate form of Installment Agreements. In a Streamline Agreement the assessed taxes due to the IRS must be under $50,000. We will also ensure you meet the IRS’ requirement of having all your tax returns filed with current withholding tax taken out or estimated tax paid, when applicable. Under the Streamline Agreement, the balance must be paid within 72 months or sooner based on the statute of limitations. Your Victory Tax Team can get these cases resolved efficiently and accurately, providing you with peace of mind.
The Long-Term Agreement
The Long Term Agreement is a Back Tax Installment Agreement that is known by several names. Back Tax Installment Agreement or Partial-Pay Agreement are among the most common names. The IRS requires several items for filing and your tax professional can help determine which applies in each client’s situation. Additionally, the IRS may require bank statements, pay stubs, copies of all bills and possibly even canceled checks. Given the complexity of the requirements for a Back Tax Installment Agreement, having our Tax Team at your side will help ensure you negotiate the best deal possible. The most important element in getting a good Long-Term Agreement is packaging. And at Victory Tax Solutions, we are the best at handling this process.
PAYROLL TAX SETTLEMENT
If you are a business owner with employees and you have not filed and paid your IRS Payroll Taxes, the IRS will notice. The IRS requires that you withhold and pay quarterly Federal Income Tax, Social Security and Medicare taxes from your employees’ wages. How much should be withheld depends on the employee’s Form W-4 and statutorily set percentages.
If you owe back IRS Payroll Taxes, the IRS can and will be very aggressive collecting them. The penalties the IRS can assess to a liability can drastically increase the amount owed in a very short period of time. The failure to make timely deposits is a large portion of these penalties.
Not only is your business at risk, but you may be personally liable for any or all IRS Payroll Taxes owed. If the IRS determines the business cannot pay its past due taxes, they will then focus on any individuals who the IRS deems as responsible.
If you owe back IRS Payroll Taxes, Victory Tax Solutions may be able to help by designing a plan for paying those taxes and negotiating with the IRS so you don’t get assessed with a bank levy or lien.
IRS LEVY & SEIZURE
Stop IRS Levy & Liens
Receiving notice of an IRS levy or liens can be very scary.
Just the thought of the IRS placing a levy or lien is stressful. When an IRS levy, such as a bank levy, is issued, the bank is legally obligated to immediately freeze all of your accounts up to the amount of the tax debt. The bank must then hold those funds for 22 days, giving you time to resolve the debts. If you have not resolved the debt within that time frame, the bank must send those funds to the IRS.
At Victory Tax Solutions, we never advise any taxpayer to take on the IRS alone, especially when it involves an IRS levy or lien. You need an expert at your side.
If you receive an IRS levy or lien notice, contact us immediately. When you hire Victory Tax Solutions, you can be comforted by knowing that our Tax Team has years of experience dealing with the IRS. You can face the IRS with confidence when you have our Tax Team on your side.
INNOCENT SPOUSE RELIEF
Did you know that through an IRS program called Innocent Spouse Relief, you can get relief from the tax debt due to the misdeeds or fraud committed by your spouse?
Innocent Spouse Relief was designed to alleviate unjust situations where one spouse was clearly the victim of actions taken by his or her spouse or ex-spouse.
The Victory Tax Solutions Team has the knowledge of the tax law and experience to help you navigate the IRS rules surrounding Innocent Spouse Relief. Our objective is to help clear your name and record from spouse or ex-spouse tax liability.