Thursday, March 28, 2013

IRS Late Payments Will Cause Your Payment Plan to Default

We have had to revisit installment agreements for various different reasons. A few reasons have been for IRS late payments, accrual of additional taxes, failure to remit payment in full, and so forth. What is important to remember is the installment agreement usually can be reinstated rather quickly. The appropriate and following steps must be taken:

- Contact Highland Tax Group, Inc. right away and fax any and all notices to our attention regarding your IRS late payment or defaulted installment agreement
- Have the professionals at HTG read the notices (if they have not received copies already) and dictate next steps to you such as how to make up your IRS late payment
- Once the next steps are determined and or your IRS late payment has been made up, make sure all notices are calendared and appeal rights are adhered to if the agreement cannot be reinstated immediately by phone
- A financial statement form or IRS collection information statement may need to be revisited to determine if the installment plan can be reinstated at the same amount as before, lowered, or increased

Usually the IRS will reinstate the agreement, charge a user fee, and you will need to start making payments immediately. It is important to remember that once an installment agreement is reached, pay close attention to the terms of the agreement. The following must be maintained throughout the duration; staying current and compliant, filing current returns timely, paying current taxes timely, and paying installment payments on time and in full by the due date.  Further, please take notice of any addition or increase to the agreement, be mindful of a 1 or 2 year financial review once the agreement is set up, make sure you pay any and all notices if additional tax, penalty, or interest amount is accrued.  Lastly, inform HTG of any actions taken on the account. 

Remember, IRS late payments will cause the agreement to default, contact us by phone at 720-398-6088. Or feel free to check out our website at www.highlandtaxresolution.com

Thursday, March 21, 2013

5 Tips For Getting Your Money's Worth When Hiring A Tax Professional


The link at the bottom of the page explains some tips for getting your money's worth out of your CPA or Enrolled Agent. When you are in IRS trouble it is equally as important to consider the same tips when choosing your tax representative.  The 5 tips are as follows: 

- Build a Relationship: As with anything in life building a relationship with your representative will help you deal with your problems.  Isn't it easier to tell someone about your problems when you trust them, when you have dealt with them for awhile, or know them on more of a personal level?   At HTG we are focusing on the customer experience and as advisers we want to make sure the customer experience is unparalleled to any other. Of course, it won't be a massage at a 5 star resort in the Bahama's, but we promise if you are in IRS trouble, we will foster a relationship with you so you feel comfortable working with us. 

- Be Organized: We cannot stress this enough when you are in IRS trouble.  Be organized and stay organized throughout the process.  One of the educational pieces we offer to our clients is to get and stay organized. It will help lower costs, help us understand your situation better, and help us stay organized as far as putting together an eventual proposal on your behalf. Again, it will cut costs for you, save you time, and save us time thus helping you with resolving your situation when you are in IRS trouble. 

- Don't Make Assumptions: This goes for anything in life, but especially when you are facing IRS trouble.  For example, if you receive a notice don't assume it has been taken care of, fax it over to us, talk to us about it so everyone is on the same page.  Communication is vital when dealing with your IRS issues. 

- Consult With Your Tax Professional: We cannot emphasize this enough when making important financial decisions, buying a car, buying a home, selling a home, etc. It is important when dealing with an IRS tax problem to face all financial issues together with your tax professional. 

- Don't Lie to Your Tax Professional: This goes without saying when dealing with IRS trouble, lying will not get you anywhere close to resolving your problems. Further, if and when a client does lie to us, we are no longer able to represent them fully before the IRS. 

If you are facing IRS trouble call us directly at 720-398-6088 or at www.highlandtaxresolution.com.

Wednesday, March 13, 2013

Tax Resolution Services Offered Include Reinstatement of Defaulted Agreements

As a premier company offering tax resolution services we have had to revisit installment agreements for various different reasons. A few reasons have been for lack of payment, accrual of additional taxes, failure to remit timely payments, penalty and interest accruals, and so forth. Most importantly the installment agreement can usually be reinstated rather quickly by Highland Tax Group, Inc., Your Denver Tax Resolution Services Company. The appropriate and following steps must be taken:

- Contact Highland Tax Group, Inc. right away and fax any and all notices to our attention
- Fax or email a copy of the notices to HTG (if they have not received copies already) and have HTG dictate the next steps that should be taken
- Once the next steps are determined, make sure all IRS default notices are calendared and appeal rights are adhered to, if a deadline is missed there is nothing we can do as a tax resolution services company to reinstate it immediately, but we can work with you to determine the next steps to getting a new payment plan in place (a much longer process, do not wait!)
- A financial statement form may need to be revisited with your tax resolution services company, filled out and turned in, but many times a call will resolve the situation

Usually the IRS will reinstate the agreement, charge a user fee, and you will need to start making payments immediately. It is important to remember that once an installment agreement is reached, pay close attention to the terms of the agreement. As a tax resolution services company we are obligated to give you any and all details regarding the reinstatement of the installment agreement.

The following must be maintained throughout the duration of the agreement; staying current and compliant, filing current and future returns timely, paying current and future taxes timely, paying installment payments on time and in full by the due date, taking notice of any addition or increase to the agreement, there may be  a 1 or 2 year financial review once the agreement is set up, and paying any and all notices if additional tax, penalty, or interest amount is accrued and informing the IRS as such. Keeping your tax resolution service company informed of the agreement, terms, and any hiccups is imperative to avoiding a default, as well as helping get your agreement in good standing if it does default.

Feel free to contact us at 720-398-6088 or check out our website at www.highlandtaxresolution.com. 

Friday, March 8, 2013

IRS Wage Garnishment Released!!

Quick status update for a Friday. We had a client who signed with us on Monday. They came to us with a IRS Wage Garnishment in place. No IRS payment plan or installment plan arranged. And had missed 3 previous deadlines due to poor representation tactics. Here's how it all went down:

- Just spent 4 hours on the phone with ACS (Automated Collection Systems/IRS) negotiating the release
- We were able to get the IRS Wage Garnishment released and faxed to our client's employer
- We were able to get a payment plan proposal input as pending at $500 monthly (the IRS previously requested $2,900 monthly)
- We were able to obtain a collection hold (NO MORE LEVIES)
- The client is satisfied headed into the weekend and promised to write a testimonial for us

We love our work here at Highland Tax Group, Inc. and it shows! Great things happen to great people. If you or someone you know owes back taxes or has an IRS Wage Garnishment call us now at 720-398-6088 or check our our website at www.highlandtaxresolution.com.