Back Taxes, Unfiled Tax Filings
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Back Taxes, Unfiled Tax Filings
Do you fear filing your current or prior year taxes? Don’t stress it. We can help you organize your financial health to avoid tax liens, reduce tax penalties, and get you tax filings in compliance. If you have various years to file, this may raise a red flag but we can file a power of attorney to represent your interest and negotiate an installment plan approved by the IRS and State Tax authorities.
- Filing your current and prior year taxes
- Filing a power of attorney to represent your interest
- Filing and negotiating an installment agreement
- Back filings of 1099 Misc Reporting for Contractors and Sub-Contractors
- Back filings of Quarterly Payroll Report Filings for Federal and State (i.e., 941s, DE 34, De 9, etc.)
- Filing of unreported income overseas including rental income
- Assessing if you qualify for exclusion on earned income overseas
- Amending prior year taxes in compliance with the streamline domestic offshore reporting
- Resolving your tax matters and tax liens
Are you self-employed and need guidance on what is required to comply with the tax laws? If you are self-employed, you are required track your income, expenses, and pay estimated taxes on a quarterly basis. Contact us to determine what your estimated quarterly taxes will be. If you do not pay estimated taxes, you will be subject to penalty for underestimating your taxes. If you are an LLC taxed as a small business, you should ensure you file the right tax forms.
Received Form 9297 Summary of Taxpayer Contact by a Revenue Officer and What do I do?
If you received Form 9297 Summary of Taxpayer Contact, then the IRS is planning on taking action and looking to collect financial information. For most taxpayers, this is their initial contact with the revenue officer assigned to their case. This notice means that your account has been assigned to your case and will want you to file your back taxes, possibly meet in person, issue federal tax liens, initiate a wage garnishment, levy assets, file liens, or take other measures on behalf of the IRS to collect the taxes owed.
If you have not filed, take measures to seek help as we can help you file your taxes for several years, file a power of attorney to represent your interest, and negotiate with the agent to ensure you do not overpay in taxes as they may file a substitute tax return which never works in your favor and you will over pay.
At Gamarra, CPA Inc, we protect your rights to object if a revenue officer makes a decision that you don’t agree with. If you disagree with a proposed collection action, you can request a managerial review. If you disagree with the manager, you have the right to appeal.
During the collection appeals process, you get to explain why you disagree with the IRS’s actions. You also get to propose alternatives. To give you a simple example, imagine a revenue officer sending you a notice of intent to levy your wages. You appeal the wage garnishment, and during the appeals hearing, you request to make monthly payments on the tax debt.
Received form 433A Collection Information Statement by a Revenue Officer and What do I do?
If you are asked to fill out Form 433-A Collection Information Statement, then the IRS is assessing your ability to pay and collect on the taxes owed. The Form 433-A is a collection information statement for wage earners and self-employed individuals. This form provides the IRS with a complete overview of your financial situation by gathering details about your assets, liabilities, income, and expenses. This information allows the IRS to assess if you qualify for certain tax relief programs.
Typically, taxpayers complete 433-A in the following situations:
- Establishing an installment agreement
- Assessing Trust Fund Recovery Penalty