Kennedy Tax Solutions Services
Kennedy Tax Solutions deals exclusively with what is called tax controversy matters. Tax controversy addresses the various issues taxpayers have with either the IRS or their state Department of Revenue. Services include the following:
If you are facing the possibility or reality of an IRS or state collection action, a tax consultation from Kennedy Tax Solutions is the best possible decision you could make. By making the decision to get tax consultation, you will get our expert advice, guidance and representation needed to get you through the various IRS or state collection processes as quickly, cheaply and painlessly as possible.
Kennedy Tax Solutions has a proven track record of results in helping people just like you, in the same situation and in the same state of mind. We are familiar with what you are feeling. By getting a tax consultation with Kennedy Tax Solutions, you’ll get the answer for your tax situation typically within 24 hours. You can then get your life back in control.
Tax preparation is the process of preparing tax returns to be filed with the IRS, state, or both. Tax preparation for both individuals and businesses is done by Dale R. Kennedy and he files the tax returns as an attorney to afford you maximum legal protection. Over his lifetime he has filed over 20,000 tax returns with the IRS. Fees for services depend upon the complexity of the returns. Typically, returns can be completed and filed within 30 days.
If you find yourself facing IRS or state Department of Revenue collection action and the related uncertainty of the situation (How does this resolve? How much am I going to pay? Will I ever get my life back?) Kennedy Tax Solutions is ready to help. We have access to all of the various tax resolution options available. We provide experienced tax resolution advice, guidance, and representation needed to successfully navigate the IRS. Kennedy Tax Solutions is an expert with tax resolution.
Tax resolution services available through Kennedy Tax Solutions:
- Wage Garnishments
- Penalties and Interest
- Notice Letters
- Unfiled/Late Tax Returns
- Revenue Agent Visits
- Audit Representation
- IRS Filed Returns
- Seizure and Sale of Property
- Payroll Tax Trust Fund (penalties)/Payroll Tax Debt Relief
- Criminal Tax Defense
- Civil Fraud
- Business Closure
- Rejection or Termination of Instalment Plan
- Owing More Money than What is Actually Owed
- Not-for-Profit Board Member Liability
- Identity Theft
- Appeal of Tax Decision
- Currently Not Collectible
- Innocent Spouse Relief
- Installment Plans
- IRS Tax Discharge/Bankruptcy
- IRS Tax Expiration
- State Tax Issues
- Litigation of IRS or State Tax Matter
Tax settlement is an arrangement which is acceptable to the IRS or state Department of Revenue that allows a taxpayer to retire a tax debt for less than the amount owed. Taxation authorities allow this type of settlement when circumstances exist that prevent the taxpayer from honoring the full debt-including the inability to pay. Not every situation is appropriate for engaging in tax settlement, however, tax authorities are often willing to explore the situation to determine if a settlement is possible. This is typically based on current tax regulations and the circumstances of the taxpayer.
Benefits of an IRS Settlement via Offer-in-Compromise
There are several benefits associated with attempting to negotiate a tax settlement as follows:
- Pay Less Now:
The most obvious reason for settlement is the taxpayer pays a considerably less than what is owed. Tax settlement requests can be calculated and presented within a very short period of time. Once the settled balance is paid, the account is considered paid in full. All taxes and penalties!
- Collection Payments Stop:
If the tax settlement is with the IRS (called an Offer-In-Compromise) once the forms are filed, generally, no current tax payments that are payable on collection matters is required.
- Avoid Liens and Garnishments:
Another benefit of a tax settlement is that the taxpayer is viewed as working towards the resolution of his tax issues and generally, avoids the further collection action such as tax liens on a home or business, bank levies, or wage garnishment on his or her paycheck.
How Does Tax Settlement Work?
The IRS will allow a taxpayer to either negotiate a tax settlement for less than the total amount owed or come to an agreement on another method for the IRS to collect taxes owed over time (partial payment installment agreement). In either case, the taxpayer must meet the IRS qualifications for the tax settlement programs. The taxpayer will first have to determine which type of tax settlement they would like to apply for and then submit the appropriate forms to the IRS for review before making a decision.
Who Is Eligible for Tax Settlement?
The IRS offers settlements to taxpayers that are struggling with their tax debts or have valid reasons to abate their penalties. Not everyone is eligible for a tax settlement. The main factor the IRS takes into consideration when determining if the taxpayer will qualify for a tax settlement is their financial situation. If the taxpayer is undergoing financial hardship, it’s usually a good indicator to the IRS that a settlement might be a good option.