Professional IRS Representation To Protect Your Assets And Minimize Penalties
With a complex and ever-changing tax code, it’s easy to make mistakes that result in an audit or penalty. You could also owe more money than you can pay if your income unexpectedly drops or unforeseen expenses absorb the cash that you set aside for taxes. When you face an Internal Revenue Service audit or tax dispute, you don’t have to go it alone. The financial experts at Doherty & Associates offer professional IRS representation. We can negotiate with the agency and work to protect your assets while minimizing any penalties you may face. In addition to Middletown, we provide IRS representation in Newark and the surrounding areas.
Why Expert IRS Representation Matters During Audits And Appeals
The IRS has six years to request an audit after you file each tax return. It’s crucial to keep all related documents and receipts so that an auditor can inspect them. You might need to send information by mail or travel to a government office. Auditors occasionally visit Middletown taxpayers for this purpose. Either way, it’s vital to have expert IRS representation. A tax professional could help verify your income and expense numbers while making sure that your legal rights are upheld.
In many cases, a representative can take your place at an audit. You may choose to participate as well. Occasionally, the IRS will require you to do so. Keep in mind that not every tax preparer in the Middletown, DE, area can provide IRS representation. The government only allows tax professionals to offer this service if they satisfy certain requirements. Among other things, they need adequate education in relevant areas. You can rest assured that the tax experts at Doherty & Associates are fully qualified to meet all of your IRS representation needs.
It’s always vital to supply accurate information to your representative as well as the IRS. Taxpayers can face significant fines and possibly jail time if they don’t tell the truth in an audit. Being honest, precise and well-prepared will help you achieve the best outcome. However, if an audit doesn’t go well and the IRS still demands penalties, you can appeal the results. You have 30 days to appeal an audit decision. Expert IRS representation also helps with audit appeals. A professional can precisely explain why the outcome was unfair while pointing to relevant tax rules.
Negotiating Payment Plans And Settlements
The IRS is often willing to let citizens pay over time or eliminate their debt by paying reduced amounts. When it isn’t feasible to pay the full amount, an “offer in compromise” is a solution that lets you settle your tax debt by paying a portion of it. Our Middletown, DE, taxation experts can negotiate with the IRS to obtain an affordable tax settlement or payment plan. You could potentially save thousands of dollars by limiting the penalties and interest that you need to pay.
Professional IRS representation helps accomplish this by speeding up the process and swiftly identifying a solution both parties can accept. It isn’t realistic for the government to cancel every overdue tax debt, but the IRS also understands that it’s better to collect some of the money than none at all. The experts at Doherty & Associates know how to negotiate effective tax relief, enabling you to pay all of your bills while avoiding default.
Resolving Tax Liens, Levies And Wage Garnishments
If you’re facing a tax lien or levy in Middletown, our IRS representation services can help solve the problem without the loss of your property. We also identify ways to prevent wage garnishment. This enables you to find a lasting solution and move on. It’s vital to take action quickly if the government puts a lien on your property. This is a sign that the property may be seized if you don’t pay off the debt. Liens can also make it difficult to sell your assets.
The IRS has the power to seize many different types of property, including your home, business, car or money. It will sell your assets and use the cash to pay your debts. The taxpayer can appeal the minimum bid or request that an asset be sold within two months. Depending on the selling price, you could still owe money afterward. An experienced tax representative can help you avoid this process or at least achieve the best possible outcome. We also offer remote payroll services, tax preparation and bookkeeping in Middletown.
Read on to learn more
The IRS is also able to garnish a large portion of taxpayers’ wages. This amount can be as high as 65 percent of your income. The exact percentage varies based on several factors, such as how many dependents you have. You’ll receive a notice at least one month before garnishment begins. This gives you a chance to appeal the decision or negotiate a different solution. However, it’s crucial not to wait until the last minute.
A Doherty & Associates tax expert in Middletown can help you find the best way to avoid or stop wage garnishment. One option is to prove that it would create serious financial hardship by preventing you from paying essential bills. An alternative involves negotiating an affordable short-term payment plan or long-term installment agreement. These solutions let you pay off federal tax debt over a period of six months to 10 years.
Contact Us Today
If you need assistance with IRS collection efforts or an upcoming audit, professional IRS representation could provide the tax relief you desire. Doherty & Associates benefits from thorough, up-to-date knowledge of the tax code and over seven decades of combined experience. Our experts serve both personal and business taxpayers. To learn more about our services and get the tax help you need, please contact Doherty & Associates today!
How Can IRS Representation Help Small Business Owners?
- IRS representation helps small business owners by handling audits, collections, and disputes directly with the IRS, reducing stress and confusion.
- Professionals work to negotiate payment plans, penalty abatements, or offers in compromise to ease financial burdens.
- They ensure all communications and filings are accurate and timely, helping owners avoid costly mistakes or missed deadlines.
- Representation preserves the business’s reputation and allows owners to focus on running their operations instead of IRS issues.
