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Get a free consultation and see if a debt relief program that may be able to free up money on a monthly basis for you and help you pay off your debts sooner could benefit you.
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If you have tax debt issues, you have to solve them. Get a free consultation to review your case and how CuraDebt Tax can help you.
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Top Rated Debt Settlement, Negotiation, Consolidation And Tax Debt Relief
Are you considering the services of a debt settlement company, debt negotiation, consolidation, or a tax debt relief company?
Call Now: 888-680-0073For unsecured debts such as credit cards, personal loans, certain private student loans, or other similar, a debt relief program may give you the solution you need. Debts could have accumulated for numerous reasons such as an unfortunate hardship, overspending, divorce, or other issues. The decision to get help could be a result of starting to go delinquent, getting creditor calls, or the realization that paying minimum payments, one could pay off the debt numerous times with the balances remaining.
For tax debt issues, the situation is even more serious because of the expanded collection rights tax authorities such as the IRS or State have. Debts could be a result of mistakes from a prior tax preparer, under withholding, failure to submit payroll tax withholdings to the IRS, identity theft, tax audit, or other reasons.
Having debt issues is stressful. One starts to lose sleep and feels pressured. Normal activities don’t feel as enjoyable. If you have tax debt, it can be even more stressful and have you feeling even more pressured because taxing authorities have the power to garnish, levy, lien and other worse things to ensure that they get paid.
The good news is that there are legal solutions to help resolve your financial issues.
For unsecured debts, there are various options such as debt consolidation, debt settlement, debt negotiation, and other debt relief programs.
For tax debt issues, there are various IRS and State tax debt solutions such as correcting prior tax return preparation mistakes with tax return amendments, an Installment Agreemens, Currently Non-Collectible, Offer In Compromise, filing returns for Substitute Filed Returns, Audit Defense, Partial Payment Installment Agreements, and more.
For debt relief, CuraDebt has been helping people and small businesses since 2000 nationwide. As a Top Rated company by numerous independent organizations and with hundreds of thousands of people counseled successfully over the years, you can trust that you are in the best hands for resolution of your financial issues.
For tax debt relief, CuraDebt has a team with over 100 years combined experience solving tax debt issues with a focus on tax resolutions, audit defense, complex resolutions, offers in compromise, partial payment plans, and currently non-collectible resolutions. The lead of the tax department has extensive experience solving 7-figure tax issues for individuals and small businesses. The tax relief team is one of the most experienced in the industry with over 83 years total previously working at the IRS or state tax authorities.
For both unsecured debt relief and tax debt resolution, much like other professional services such as surgery,it is critical to do things right the first time, and by having the most experienced team, you are ensured to get the best possible results. In addition, reviews from clients, ratings from reputable rating agencies, and the company being free from recent unresolved complaints are some additional important criteria.
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Call Now: 888-680-0073Are you currently in a situation where state authorities or the IRS are demanding money from you? Regardless of whether you feel that the money is actually owed or not, there are a number of different solutions. Nine out of ten, having a professional tax resolution company solve tax issues gets a better solution than an individual or even an individual tax professional would get on their own.
Owing money to the IRS or state is different from owing money to a bank for a credit card or other loan. The IRS and state have expanded collection abilities that unsecured creditors do not. They can levy assets such as bank accounts, or garnish income from social security, retirement, or wages without having to go through the traditional legal process. They may file a tax lien and even potentially seize property such as real estate, cars, boats or other physical assets that you own to pay off your tax debt.
This is a scary situation to be in.
Perhaps you recently lost your job, got divorced, had unexpected expenses or had to pay for any other expense that prevented you from being able to pay off your tax debt.
You may be receiving letters from the state or federal tax authorities requesting money that you may feel is not accurate. There are many reasons why people have tax debts and the most important thing is that you receive professional assistance. Read on to see some of the most common reasons why people have IRS and/or state tax debt issues and the solutions to these tax debt problems.
Call Now: 888-680-0073How To Get Out Of Debt For Credit Cards, Unsecured Debts & Tax Debts.
Are you making minimum payments on your unsecured debts, but not going anywhere or are already falling delinquent?
Thousands of people come to us each month stating that they are making minimum payments on their credit card debts and other unsecured loans, yet the balances have not gone down. In some cases, they have already paid back the amount they originally spent, one, two or even three or more times. Most people have no or very little money left over at the end of each month for emergencies or recreational activities.
While they may be current with payments, their creditworthiness is very poor because they cannot make a payment on a new loan. In some cases, they keep doing what they are doing until an emergency occurs, at which time they come to us for a solution; if they had just taken action sooner, their debts might already have been resolved.
Are you falling delinquent? If so, your credit is already being affected and you, like most people, probably do not want to file bankruptcy. Future employers, business partners, and other people can ask, “have you ever filed bankruptcy?” for the rest of your life.
Now is the time for damage control. In many cases, just by freeing up several hundred more dollars a month with a debt arbitration program, you can have the peace of mind you need and get your unsecured creditors resolved. Much like a “credit card debt forgiveness” program, for clients who qualify, the creditors forgive a certain amount of debt that is owed. In some cases, as much as 100%. No one can predict specific future results because each case is unique.
In other cases, clients want to lower interest rates, and while creditors often do not lower as much as they used to, we can give an estimate for what your payment would be on a non-profit debt consolidation or debt management program to see if it would accomplish your goals.
This type of program is also called a consumer credit counseling, credit counseling, or credit counseling services. Whether you hear it called credit counseling, credit card debt consolidation, DMP, or debt management, it is the same program where there is one payment every month, creditor interest rates are adjusted, and the agency pays your creditors on your behalf.
Need tax debt relief for Internal Revenue Service (IRS) or State personal or company tax debt issues?
Hopefully, a Revenue Officer is not yet assigned and there have been no notices of imminent levies or garnishments issued. Even if no notices have been received, we have seen people and small business owners, have their or company’s bank accounts levied or wages garnished by aggressive Revenue Officers, without having received any written notices. It is a very stressful situation to know this could happen at any moment.
When we start working for you, the tax professional assigned to your case, when needed, immediately requests a stay of enforcement for as long as possible to give time to get things solved. It is much better to take action sooner than later because once the IRS or State has levied your bank account, there are only 21 days before the bank has to send the money to the taxing authority. It’s much easier to prevent than to get the money returned.
Past clients tell us that the immediate feeling of having a light at the end of the tunnel, having lower blood pressure, and being able to sleep at night are priceless. Then, when the original IRS and/or state tax issues are solved, they tell us how they feel much happier, free, and able to live life once again. The pride each and everyone in our team has for the 700+ Five Star Reviews is what makes us even more enthusiastic and dedicated to helping you.
The first step for unsecured debt issues is to get your free, 100% confidential, no-obligation debt consultation to learn how much money you could save, how many months it would take to resolve your debt, the difference between other debt relief options, and what your new monthly payment would be.
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Common Reasons Why People Have Tax Debt Issues:
1) Failure to file tax return(s)
This is a common reason why an individual or company owes money to the State or the IRS. It is not against the law to have tax debt, but it is against the law not to file a tax return when you or your business surpasses certain minimum income requirements.
If you do not file your returns, the IRS will file a Substitute for Return (or SFR). Typically, the SFR will only list income and not have all of the allowable deductions. The result is that you or your company could end up owing a large amount of taxes plus penalties and interest (that may not be accurate had the tax return been properly prepared).
In many instances, taxpayers file their federal tax return, but fail to file the state tax return. If a state tax return hasn’t been filed, the state will file one on behalf of the taxpayer; this is called an estimated state tax return (EST). In this case, the state does not take into account all the deductions that you are allowed. Therefore, the state tax return would place you or your business in a higher income tax bracket, essentially taxing at the highest tax rate allowed for the gross income and taxing an amount that is higher than it should be had the returns been properly prepared.
2) Incorrect tax return preparation
There are a number of reasons that lead to mistakes being made when tax returns are being filed. Perhaps you rushed the filling process just to meet the deadline or did not gather all the applicable information on time to complete the return. Additionally, the mistakes on tax returns could be from a Certified Public Accountant (CPA) or tax preparer who was not familiar with all the intricacies of the 70,000+ pages of tax code, and as a result made mistakes. This is one of the most common situations that happens today. Whatever the reason, these mistakes can be costly as accuracy penalties can reach up to 75% of the tax debt.
3) Failure to make timely estimated tax payments
Often times, business owners do not pay their quarterly Estimated Tax Payments (ETP’s) during the year. The tax debt accumulates to the following year, and the business and/or business owner may not have the money to pay the balance owed.
4) Early withdrawal from retirement funds
The IRS imposes a 10% penalty for 401(k) IRA withdrawals before the age of 59 1/2 for unqualified withdrawals. Many taxpayers are not expecting this and get caught owing the penalty.
5) Under‐withholding
Some taxpayers choose fewer withholdings than they should. Then, when they file their returns at the end of the year, taxes are due.
6) IRS or state tax audit
The IRS or state may examine your or your company’s tax returns. Based on the outcome of the audit, you may be subject to additional taxes owed due to penalties, disallowed deductions or other reasons.
7) Gambling winnings
If you have gambling winnings, this income must be included in your tax return. This could mean an increase in taxes due.
8) Claiming a dependent that isn’t rightfully theirs to claim
There are a number of rules regarding claiming tax for dependents which could be confusing. If one does not know the rules, one could inadvertently complete the tax returns in error and later be penalized if the IRS finds that the claim was inaccurate.
9) Unpaid payroll (forms 940 and 941) taxes
The withholdings are made from the salaries of employees, these funds are held in trust by the business and are supposed to be forwarded to the IRS. Failure to do so is seen by the IRS as theft from the employees AND from the IRS, which is very serious. Failure to pay this can also result in personal assessment of the debt, penalties, and fines.
10) Mistakes from another CPA or tax company
To have an in-depth understanding of the 70,000+ page tax code, how it applies to your unique situation, and the best way to apply it in order to ensure you pay the least amount of tax legally required, is very complicated. In addition, it is critical to have an insider’s understanding of the IRS and/or State taxing authorities in order to get the best results. We have numerous clients who come to us after having “tried” to do it themselves or having hired another tax firm that either made mistakes or in some cases billed the client and did nothing.
These mistakes by clients or other tax resolution firms, akin to having a botched surgery, are in many cases very difficult to solve. It is much better to start with the most experienced tax team in the industry. Only trust your life or taxes to the very best.
11) Other Tax Issues
There are a variety of other reasons why you or your company may owe tax debts. The CuraDebt Tax professionals specialize in solving all types of state and IRS tax issues. Contact us to get a free tax resolution evaluation.
Call Now: 888-680-0073Online Rewards and Incentive Towords Tax Debt Relief
Call Now: 888-680-0073For tax debt issues, it is extremely important to get IRS and/or state tax assistance quickly and be able to request a Stay of Enforcement prior to the IRS or State starting expanded enforcement measures against you or your Company.
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