Atlanta CPA Advises Georgia Taxpayers on Addressing Offers in Compromise and Back Taxes with the IRS
Atlanta CPA Advises Georgia Taxpayers on Addressing Offers in Compromise and Back Taxes with the IRS
Many will shy away from certain deductions because of a fear of being audited. Although clearly no one desires to be audited as both the administrative burden and potential economic burden of an audit are more than enough to be considered as well as the emotional stress. However, I believe all clients should never not take a deduction they are legally entitled to as otherwise they are overpaying their taxes and paying more than their fair share. However, in serving the truth, we can trust that the truth, regardless of an audit environment or not, will indeed set us free. However if you find yourself facing an IRS audit or needing IRS Representation retaining a CPA if your best first step to ensure that you only pay what you legally owe. Below is a sample letter that might be used if a client inadvertently failed to include and represent open payroll taxes, which were failed to be included and communicated in an Offer in Compromise to the IRS.
Internal Revenue Service
Atlanta GA
Enclosures: My letter dated 01-20-10 (copy enclosed)
Please cease all collection efforts on the above taxpayers as am working to submit an Offer in Compromise to address all of the open monies due on their account.I am writing you in a good faith attempt to come to terms over the above taxpayers’ present predicament with the IRS I am willing/eager to supply you with any information that you might need to close your file. I plan to submit and Offer in Compromise on the above referenced taxpayers ASAP after I can get the payroll taxes assessed to them personally as the responsible party. Their original Offer in Compromise inadvertently did not include their monies so that Offer is being rescinded. ASAP after the payroll taxes/Civil Penalty is assessed the above taxpayer personally as the responsible party an Offer in Compromise will be submitted including these monies.
In the interim please be advised that the taxpayer now works another employer and that they are accordingly paying her ongoing income taxes there via payroll withholding.
The above taxpayers have advised me that they have filed all of their presently due tax returns. I believe that this shows they want to continue as taxpaying citizens and to begin actively paying taxes as they are owed. Please note the taxpayers recently paid the IRS an estimated tax payment of $10,000 to bring their current tax payments current.
It is my goal to help in their efforts to return to compliance. Since I have assumed the role as their financial advisor (they had no advisor previously), I have consulted with them, and in good faith I would like to make and Offer in Compromise for the taxpayers to pay as much of the balance of the tax liability as they possibly can.
Please note that I have advised the taxpayers that after the acceptance of their Offer that they must stay in compliance by keeping all of their filings and payments current for five years. They have further been advised that in the event they do no maintain the above that the previously accepted offer would be voided and the previously abated monies would be reinstated and collection efforts resumed.
Please cease all collection efforts while this Offer is being re-submitted. I appreciate your attention to this matter and please do not hesitate to contact me should you have any questions.
Sincerely, John C. Dillard, CPA, PC, Partner in Charge
How Audits are Selected
Learning about how audits are selected is the first step to discovering how to overcome the emotional and financial distress that normally occurs as part of the audit process. Lifting this veil will help keep you on an even keel in learning how to deal with the IRS audit. Visit http://www.hiscpa.com/irs-selection.html
When the IRS Notice Arrives
Rather than beginning the process in fear, discover how you can better prepare yourself so that you are not surprised at the audit process and its ultimate results. By seeing through to the other side you can best ready yourself to close your audit with no adjustments and no additional monies due. See http://www.hiscpa.com/irs-audit.html
Solving IRS Tax Issues
Don’t fight the IRS but work with them to resolve your tax problems. Discover a myriad of legal ways the IRS is eager and willing to work with you to resolve any unpaid debts, penalties, and interest. To learn more http://www.hiscpa.com/working-with-the-irs.htm l
Paying Your Taxes – Withholding and Extensions
Paying your taxes made easy. This section will enable you to quickly grasp the general guidelines of tax law requiring that you pay taxes as you earn money. As well, extensions and their uses and limitations are disclosed and discovered. Visit http://www.hiscpa.com/paying-taxes.html
How to Avoid an IRS Audit
Discover simple steps that you can do to help prevent an IRS audit. Though the tax code is at times very difficult to understand and comply, these basic simple steps will help you avoid an IRS audit. See http://www.hiscpa.com/avoiding-audits.html
Solving IRS Tax Problems: Submitting an Offer in Compromise
When all else fails and if you qualify, the IRS and Georgia both have a program which will enable you to work to solve the severest tax problems. Visit http://www.hiscpa.com/offer-in-compromise.html
Utilizing IRS Installment Plans to Pay Your Past Due Taxes
The IRS has long been in the business of helping taxpayers get back into the system to ensure that taxpayers are able to pay their taxes over time. For those who do not qualify for an Offer in Compromise or to pay the taxes and interest in full, while seeking penalty abatement, an Installment Plan is a prudent and wise choice and alternative to get your past taxes due paid and current. See http://www.hiscpa.com/installment-plans.html
John Dillard is an Christian Speaker/Author and an Atlanta CPA. To See how he takes Christ along with him to work visit http://www.hiscpa.com/ and for his latest book Overcoming Life’s 9/11’s: Job’s Journey and a Voice of One: Nehemiah’s Prayer visit http://www.john-dillard.com/ or call John Dillard CPA today at 770.814.9304 (All Rights Reserved) Dare to Attempt Something so Great for the Kingdom of God that it is doomed to failure, lest Christ be in it!
We advise clients on: IRS representation, Offer in Compromise, Tax Problems, Incorporation in Georgia, Corporate and Personal Income Tax Returns, Part-time CFO, Virtual Controller, Business Planning, Offer in Compromise, Back Taxes, Bookkeeping.
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