An IRS or State Tax Problem that took years to create is not going to go away all by its self. An IRS Wage Levy seizure can be the beginning of healing process.
Fact is…Earning income and not filing a tax return for any tax period will and can be collected upon by both the federal and state collection agencies indefinitely. The tool used most aggressively is the IRS Wage Levy seizure.
WOW! Now there is a sobering thought.
Un-authorized tax return created to hurt Taxpayer
First off, the IRS or the State authorities must some how record some sort of instrument to initiate a collectible tax liability. The way this feat is achieved is by creating a forced filing or a substitute filed tax return. Missing / Unfiled Tax Returns is the # 2 culprit in generating unwanted IRS or State tax debt. the # 1 reason why folks get into a long term tax issue is because of not withholding the correct amount of money from there wages.
You may ask, how does the IRS or State know what amount of income I made last year?
Here is your answer; An employer uses the form 941 to report to the IRS an employee’s income and proper withholding for federal, state, Social Security and Medicare. The vendor uses a Form 1096 is used to report income earned by an independent contractor or sole proprietor.
The independent contractor is responsible for his or her own withholdings for federal, state, Social Security and Medicare withholdings. The term used for this sort of withholding is called estimated tax payments or ETP.
Armed with income information, the IRS or State will than have the ability create a forced filing (FF) or a substitute filed return (SFR) on the citizen’s behalf. Consider yourself warned, the tax return is not an ordinary tax return…”0″ exemptions, “0” credit for withholdings, “0” exclusions, “0” deductions are allowed. The SFR is processed, posted and ready for collection.
The Collection Process and IRS Wage Levy seizure
1) CP-14, Balance due notices are computer generated and sent to the wage earner or independent contractor
2) CP-88, Delinquent Return Refund Hold, you are not entitled to receive your refund until you file a specific tax return.
3) CP-501, Reminder notice, Balance Due
4) CP-503, Second notice, Balance Due
5) CP-504, Final notice, Balance Due
6) CP-90 / CP-297 / CP-297A, FINAL Notice of IRS Wage Levy seizure and your notice of right to a hearing. At this point the taxpayer has 30 days notice to resolve the tax problem.
Who we are
Are you in this scenario? Ready to make it all go away correctly the first time around? DWK Tax Group will treat you like family and treat your tax debt as if it were our own, period. Dial 1 – 8 6 6 – 2 2 6 – 6 1 0 2, do not go it alone. The IRS or State will have you believing they have only your best interest in mind…truth is, collection agents are in place to collect the most amount of money possible and in the shortest amount of time as possible.
DWK Tax Group is the most trusted name in the tax resolution industry, equally important accountable to all of our clients, past present and future. DWK Tax provides proven and sustainable tactics for individual and business tax solutions. IRS or state tax debt is not meant to be kept around as a pet. Engage, identify and destroy the IRS or State tax problem today! DWK will work quickly, we know time is of the essence. All of our tax professionals are credentialed with federal and state authorization. Come and get it! Acquire the piece of mind you, your family and or business truly deserve.
One by one, one case at a time, DWK Tax Group has been making a positive difference in troubled taxpayer’s lives for 5 years plus, (actual time of existence) not a fly by night risk. Do your due diligence and research the company you want to represent you. The industry is getting better however the consistency and product of service orientation DWK offers is the best that money can buy.