Tax Resolution FAQs

> What kinds of issues does tax resolution cover?

-Tax resolution services include representation before the IRS and negotiating to arrive at the best possible outcome for your specific situation. Situations we help with include unfiled tax returns, payroll tax (trust fund) issues, back taxes owed, exclusion of income, and any situation that results in the IRS sending you notices about a tax balance due.

> How does tax resolution work?

-The general steps are:

Initial consultation and analysis. Gather information and compliance check.

Develop appropriate plan. Find potential resolution options.

Representation. Negotiate with IRS on your behalf to get your best outcome.

> What are some potential resolution options?

-Installment Agreement payment plan to pay either the full amount due or a partial amount over a set period of time.

-Penalty Abatement penalty forgiveness for one or more tax periods if qualified.

-Currently-Non-Collectible (CNC) The IRS pauses collection action if you are experiencing hardship and are unable to pay the tax debt.

-Offer-in-Compromise (OIC) Depending on your financial situation, IRS may settle your tax debt for less than the full amount due.

-Innocent Spouse Relief Tax relief in certain situations where one spouse is deemed not liable for the other spouse’s tax debt on a joint return.

> How long does the entire process take?

-The time it takes for a tax relief case to reach completion depends on several factors such as IRS response/processing times, the specific issue you have, communication with IRS prior to seeking tax resolution services, your response times with requested financial (or other) documentation, and so on. Total time could range from weeks to years.

At Omaha Tax Resolution, we will do everything possible to get your tax issue resolved as quickly as possible. We will be in touch with you throughout the duration of your case and will keep you updated with case status.

> Do tax resolution companies actually work?

-Yes, but you must work with a legitimate tax resolution company. Unfortunately, this area of practice has been inundated with disreputable companies pushing false promises and taking advantage of taxpayers nationwide. Find someone local, meet with them, see that they are trustworthy and know that they will take the time to advocate for you. Make sure you have reasonable expectations for the outcome.

> What happens if I can’t pay the taxes I owe?

-It’s not uncommon for taxpayers to fall behind and end up with delinquent taxes. Unexpected situations pop up all the time for most people. Unfortunately, when we fall behind on paying our taxes, the IRS automatically begins their collection process.

They will send you notices about the amount due and describe your options, which will come with specific deadlines. If you don’t take the necessary action by the deadline given, IRS will proceed with collection efforts. They may file a federal tax lien on your property, levy your wages and bank accounts, and may affect your passport status (the State Department will not renew your passport).

Basically, the longer you wait to address the issue, the more rigorous their actions will become and the more complicated the situation will be. Don’t wait!