In response to the economic fallout from COVID-19, the IRS suspended attempts to collect back taxes through liens, levies, seizures and other methods. We have learned that the IRS is now restarting the collection of back taxes. There are already more than 25 million taxpayers in America that are in trouble with the IRS, and that number is expected to increase significantly as the 2019 returns and 2020 returns are processed.
What to Expect Going Forward
According to the IRS, there were more than 15 million taxpayers who are unable to pay their back taxes BEFORE we had ever heard of COVID-19. There are another 10 million taxpayers who are non-filers and believe, erroneously, that they are successfully hiding from the IRS. I say “erroneously” because the IRS already knows who they are and is beginning the pursuit of these folks either civilly or criminally for their tax issues.
If you or someone you know owes back taxes, the time to deal with it is now. Once the IRS gets back to seizing property, garnishing wages and sending threatening letters, it may be too late to get the best deal possible to settle back tax debts. Today, we can assist taxpayers by filing tax returns that haven’t been filed and setting up payment arrangements, obtaining penalty relief, seeking innocent spouse relief and compromising away tax balances that cannot be paid.
How We Can Help You with Your Tax Debt
We know that the last thing people want to talk about is taxes at a time like this, but if you are a business owner or otherwise owe back taxes, it is actually better to address the problem sooner rather than later. Also, if your business (or someone you know with a business) is struggling to meet its payroll or sales tax obligations, we can help address those needs as well.
In sum, both the IRS and state taxing authorities are offering flexible and helpful programs to fix tax problems. These programs will not last forever and now is the time to take advantage of them. We can help you with the following:
- IRS Audits and Appeals
- Non-Filers and Back-Taxes
- Payment Plans
- Tax Liens
- Tax Levies
- Resolving Payroll Tax Issues
- Sales Tax Issues
- Defending Innocent Spouse’s from joint-tax liability
- Planning for tax issues in divorce
If you or someone you know has an issue with tax debt, please contact us at (678) 235-5460, or by email at Gary.Massey@masseyandcompanyCPA.com. We make the tax nightmare go away.
Massey and Company CPA is a boutique tax and accounting firm serving individuals and small businesses in Atlanta, Chicago and throughout the country. Our services include tax return preparation, tax planning for businesses and individuals, IRS tax problem resolution, IRS audits, sales tax, and small business accounting and bookkeeping.