IRS files your return based on income from 3rd party sources. You don’t choose your filing status...
Los Angeles, California (PRWEB) January 11, 2013
Many taxpayers that are new to self employment don’t have the proper guidance from their accountant or CPA and incur a large tax liability when it’s time to file their tax return. Since many self employed taxpayers are not aware that the law requires them to make quarterly estimated tax payments, they start having IRS tax problems and fall out of compliance with federal tax laws.
In 2012, Direct Tax Relief (DTR) helped over 1,000 taxpayers resolve their back tax problems . DTR consists of Certified Tax Attorneys and IRS Enrolled Agents that are very successful at negotiating and mediating with the IRS and State tax agencies.
Often, when a taxpayer becomes aware that they will owe a large sum of money due to self employment or insufficient withholdings from their pay, they become frightened at the consequences and fail to file their tax return. This pattern of not filing returns usually repeats for a few more years until the IRS gets involved and files “Substitute Returns” on the taxpayer’s behalf. According to Tax Attorney and Certified Tax Resolution Specialist John Holland, this is the worst scenario that can occur, because he states “The IRS files your return based on income from 3rd party sources. You don’t choose your filing status, any dependents, or are able to claim any business expenses”.
The IRS has recently expanded its “Fresh Start” program, allowing more taxpayers than ever to qualify for an Offer in Compromise. The Offer in Compromise program allows taxpayers to settle their back taxes for a fraction of what they owe. Direct Tax Relief negotiates settlements for their clients at an average rate of 12 cents on the dollar. That means a taxpayer who owes the IRS $30,000 in back taxes can potentially settle for only $3,600!
If you have unfiled tax returns or owe the IRS or State over $10,000 in back taxes, call Direct Tax Relief today at (877) 505-4829 for a free consultation or visit their website at directtaxrelief.com for more details. Their tax experts will take over all communication with the IRS and handle your case from beginning to end.