CALIFORNIA TAX SETTLEMENT SERVICES 2022
Are you paying costly tax payments to the IRS or state government? Are your wages being garnished? Have you received notice of a tax audit and don’t know what to do? Don’t lose faith! We provide some of the best tax settlement services in the industry, and we want to help you stop wage garnishment, paying overly costly tax payments, and/or deal with the IRS (no matter the issue)…
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My Tax Settlement is based in San Diego, California, providing tax settlement services to the entire state. Unlike other tax resolution service providers, we do not require you to have a minimum of 10k in tax debt before we can help. As soon as you owe 5k in tax debt, we can start helping you work with the IRS better so that you can prevent bigger issues down the road.
Our goal is to provide the best tax settlement services in the market. This means that we aren’t out to get a cheap buck. If you’re better off without us, we’ll tell you. That’s what it means to provide excellent service, and we’ll stand by that.
My Tax Settlement services are limited to what is presented on this page. We may make content that gives advice on different aspects of tax debt and finances, but that is through the perspective of helping our clients make better choices for their own ongoings with tax debt.
What is IRS Tax Settlement?
Tax settlement services are a way for taxpayers to resolve their tax liabilities without going to tax court. Taxpayers can work with a tax resolution specialist to negotiate a settlement with the IRS.
There are many advantages to using a tax settlement services. Taxpayers can avoid the expense of going to tax court, which is especially important for taxpayers who owe less than $25,000. Taxpayers may also be able to get their penalties reduced or removed by working with a tax resolution specialist. Another advantage of these services is that they help taxpayers resolve issues regarding unfiled returns and unfiled FBARs (Report of Foreign Bank and Financial Accounts.)
A tax resolution professional will contact the taxpayer and explain how he/she can negotiate an IRS settlement on their behalf. The specialist will request information from the taxpayer such as their personal profile, due diligence questions and asset information including bank account balances and real estate holdings. The specialist will attempt to negotiate the lowest settlement amount for the taxpayer.
Settlement negotiations are always conducted with all due diligence in mind – including information exchange, quality of data provided by the taxpayer, type of relief requested, and complete accuracy to avoid future liability. It is important because if not done according will result in high penalty charges even if there was no tax evasion or fraud.
These days several individuals are using these services due to a large number of reasons- some want to settle their cases fast while others want to hire someone who can act as an expert on their behalf. Depending upon your requirement you might need a CPA (certified public accountant), Enrolled Agent (United States tax practitioner), or other professional designation. As of January 1, 2011, only certified public accountants (CPA) and attorneys who meet certain requirements are allowed to practice before the IRS.
Professional tax resolution specialists can be found through referrals from other clients, web searches, and advertisements. A good settlement services provider will ask for detailed information including a taxpayer ID number, financial accounts, and balances, income statements for all companies or business entities owned by the taxpayer, FBARs if applicable, list of assets owned with current values and their respective depreciation schedules, etc. A specialist will also request a recorded telephone conversation between the taxpayer’s representative(s) and the IRS regarding the case. The specialist may be able to negotiate settlements that are lower than what taxpayers have been told they owe by representatives at the IRS.
How do we settle taxes owed to California FTB?
The California Franchise Tax Board (FTB) offers a few ways for taxpayers to resolve their tax liabilities. These include the Offer in Compromise (OIC) program, the Installment Agreement (IA) program, and the Voluntary Disclosure Program (VDP).
The OIC program is a way for taxpayers to settle their tax liabilities for less than the amount they owe. To be eligible for the program, taxpayers must meet certain requirements, including being unable to pay their tax liabilities in full. The IA program allows taxpayers to spread their tax payments over a period of time. Taxpayers who are not eligible for the OIC program may be able to qualify for the IA program.
The VDP is a way for taxpayers who have not been filing tax returns or have been submitting late returns, to become compliant with the law. The VDP is very beneficial for taxpayers because it allows them to avoid criminal prosecution and negotiate a lower penalty than they would face if their case was referred to the Franchise Tax Board’s Criminal Investigation Unit (CIU).
Taxpayers can also get an installment agreement through the VDP. For individuals, there is no minimum income eligibility requirement and monthly payments can be as low as $25 per month. Taxpayers who owe more than $50,000 may need to provide financial statements and other documentation in order to qualify for an IA.
Settling tax liabilities outside of the FTB’s programs could result in higher penalties and interest charges.
What should I do if I receive a letter from the IRS concerning debt?
If you receive a letter from the IRS concerning tax debt, you should contact a tax resolution specialist right away. A specialist will be able to help you determine the best way to resolve your tax liabilities. You may be eligible for the Offer in Compromise (OIC) program, the Installment Agreement (IA) program, or the Voluntary Disclosure Program (VDP).
Are You Suffering from Financial Stain Due to Tax Debt? We Can Help!
Are you struggling to pay your taxes? Are you worried about the consequences of not being able to settle your tax debt? You don’t have to worry any longer! We can help you resolve your tax liabilities for less than the amount you owe.
We are a professional tax resolution firm that specializes in helping taxpayers resolve their tax debts. We have a team of experienced negotiators who are able to work with the IRS on your behalf. We can help you qualify for the Offer in Compromise (OIC) program, the Installment Agreement (IA) program, or the Voluntary Disclosure Program (VDP).
Don’t wait any longer! Contact us today and let us help you resolve your tax debt.