Our tax professionals will hear your case and provide you a free tax analysis discussing the best potential resolutions to your tax liability. At BMF Accounting and Tax Solutions we understand the pressure you face and how to represent your situation to protect your livelihood.
Investigation process begins by filing the IRS Tax Authorization Information Form 2848 form for the State Taxing authority on your behalf obtain a complete record of your account. Upon completion, we will contact you to discuss the best way to address the problem.
The resolution phase begins by gathering more in-depth financial information and documentation to prepare a proposal for submission to the IRS and/or State. Our team At BMF Accounting and Tax Solutions collaborates with you and our goal not only is fix your tax issues and keep you tax debt free.
An offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you cannot pay your full tax liability or doing so creates a financial hardship. We consider your unique set of facts and circumstances:
If taxpayers that are not currently in financial hardship, but may be remarkably close to that threshold, may be able to qualify for an Offer in Compromise.
The installment agreement is a method of tax debt resolution that allows an individual to pay off their balance over a period typically ranging from 6 months to 72 months. Depending on the amount owed to the IRS or state tax agency, the period can vary. Installment agreements are in different forms to accommodate other financial obligations and the needs of the taxpayer while still satisfying IRS or state tax debt. The straight-forward payment method is a simple installment plan in which the taxpayer settles their entire tax debt over the payments.