Taxes may be complicated but life shouldn’t be. Our team of tax specialists are here to answer your tax concerns and provide you the calm assurance that you have experts on your side.
If you earn more than $10,300 as a single person living in New York or $20,600 for married couples filing jointly, you may face individual tax problems. You may also need to file a tax return if you have health coverage provided by the Affordable Care Act. If not, you may run into problems with state and federal tax agencies—and your future finances.
Keeping current and compliant on your taxes takes a great deal of time and effort, and we often see well-intentioned taxpayers fall behind because they’re overwhelmed by how much they owe or the prospect of dealing with the IRS. But becoming delinquent on your taxes may result in collection efforts or penalties levied against you and your family.
If your tax bill goes unpaid and you don’t make arrangements to pay your debt before the due date, the first step in the forcible collection of your debt is a tax lien on your New York-area property, which is how the IRS protects the debt.
A lien is a legal claim against your real estate, personal property, and financial assets, filed via a public document known as a Notice of Federal Tax Lien. The lien alerts your creditors and finance companies that the IRS has a legal right to your property to the extent of tax you owe and remains in effect until the taxes are paid in full or other arrangements are made. Liens can damage your credit and make it impossible to move forward in your financial life.
Once a federal or state tax lien is filed, you may also face the possibility of a tax levy to legally seize your property and assets to satisfy your debt. A levy can freeze your bank account, garnish your wages or seize your assets, including your retirement accounts, state and federal income tax returns and stock accounts, and property, such as your home, car or boat.
If you face a levy or lien, it’s important to deal with your individual tax problems as quickly as possible to minimize the impact on your finances.
Federal, state, and local authorities can also assess penalties for failing to pay to your taxes. The penalties increase your tax bill, making it even more difficult to catch up on back taxes and stay on top of current tax obligations. Taxing agencies have more than 100 possible penalties they can assess, some assessing up to 75 percent of the tax amount you owe. And a variety of enforcement techniques to collect them.
The best way to avoid tax penalties is to file your taxes on time and set up a payment plan if you can’t pay them right away. You will almost always end up paying more when you don’t file on time. Plus, if you only focus on what you already owe, you will never stay current. And if you only focus on your current taxes, then you’ll never address what’s past due. Don’t let tax penalties add to your individual tax problems.
The whole True Resolve team were amazing at answering my questions in a very timely manner. I was dealing with a Revenue Officer who wasn’t being very helpful. After hiring True Resolve I never had to directly deal with the Revenue Officer again and they handled everything from there and got me an affordable payment plan and were even able to reduce what I owed the IRS.
~ Scott H, Colorado
~ Allison C., Colorado
The IRS was contacting my contractors I work for and telling them to not pay and send the money to the IRS instead. This left me with no money to pay my employees and I was unable to get the IRS lady that was doing this on the phone or to return my call. I spoke with True Resolve Tax and asked what my options were after they came highly recommended. Within two days of hiring them they had been able to speak to the lady at the IRS, get her to agree to stop the levies with my contractors and even got enough of the money she had recently taken back to allow me to cover payroll for my employees. This was HUGE! If my employees couldn’t get paid I would have been out of business. I was very impressed with how quickly True Resolve went to work and got results.
~ Gary B., Colorado
~ Bill L., Westminster, CO
I had rental properties that had been vacant for some time and decided I wanted to sell. The problem was, I owed more than what the propertyies were worth and needed to enter into a Short Sale but the IRS had a lien which was creating a problem with the title company to close on the sale. Victoria and the team were able to prepare paperwork and have the IRS remove the lien from the rental property in short sale and agree to not receive any funds so that the closing could happen and I could no longer be responsible for the mortgage payment. This in turn allowed me to start making payments to the IRS on my back taxes. My title agent was so impressed with how quickly the process was dealt with once bringing True Resolve on board that they asked for an introduction for their other clients as well.
~ Heidi K., Colorado
~ Linda B., Westminster, CO
~ Rickey C., Colorado
True Resolve has helped me out tremendously with back taxes, it has been a pleasure to work with Amanda and her team of dependable Tax Professionals. I highly recommend working with True Resolve Tax Professionals.
~ Bruce K., Colorado
Expertise to Resolve Your Individual Tax Problems
True Resolve offers you the right expertise, experience, and integrity you need to deal with delinquent taxes. Don’t wait one minute longer to get in front of your tax problems. We guarantee the information and tools you need to keep your finances running smoothly.
