Call Today: 877-825-1179

La Porte Chamber of Commerce
VERIFIED Seal Success Tax Relief, LLC BBB Business Review    

Tax Tips

How And When to Pay Your Estimated Federal Taxes

How And When to Pay Your Estimated Federal Taxes

By on Sep 4, 2019 in Tax Tips, Taxes | 0 comments

Did you know that the IRS can penalize you even if you do pay your taxes at the end of the year? You could file every form correctly and still get charged! That’s because people who don’t have their taxes withheld still get stuck with the same tax burdens that everyone else does. At Success Tax Relief, we’re often asked when the right time to make these payments is. As you might have guessed, that’s a slightly tricky question. Know if You Need to Make Estimated Payments Relatively few people actually have to make estimated tax payments. Individuals and partners generally have to make them if they expect to owe more than around $1,000 or so when they set out to file their taxes before April 15. Sole proprietors of businesses who own their own company have to do the same if they meet this requirement. Shareholders in so-called S corporations that owe a burden of $1,000 or more will also have to make these payments. Since corporations are technically persons from a certain point of view, they’re held to a somewhat similar standard. If you run a business that’s registered as a corporation without gaining that little S stamp from the IRS, then you’ll need to make estimated payments if you expect to owe tax of $500 or more. This raises the question of who can reasonably expect to owe that much money. If you’ve owed it in the past, then the IRS will expect that you know you to pay estimated payments next time. There’s some leeway on this since it’s rather difficult to prove that a taxpayer was sure they were going to have to make them, but it’s much better to err on the safe side because there’s no penalty for making estimated payments when you didn’t need them. In fact, those who end up paying slightly too much will get all that money refunded to them when they file at the beginning of next year. Do none of these situations sound like they apply to you? Good; that means you won’t have to make these payments. Otherwise, there’s some forms to fill. How to Pay Estimated Tax As with nearly everything else involved with...

Read More
Hiring a Professional to Negotiate with the IRS on Your Behalf

Hiring a Professional to Negotiate with the IRS on Your Behalf

By on Feb 12, 2019 in Debt Relief, Tax relief, Tax Tips | 0 comments

In some cases doing things yourself is often the best way to yield quick results. Yet, when it comes time to handle situations like tax filing and debt, it’s often a good idea to bring in a third party that knows the tax laws and has successfully dealt with your special kind of tax case. The Internal Revenue Service (IRS) might respond better to someone who has had experience dealing with various kinds of tax matters. Knowing what kinds of solutions to ask for can go fairly quickly than asking an IRS representative what can be done to help them. While it’s true that IRS representatives are there to assist you, they can only do so much on their end. Bear in mind that they’re not working for you; they’re working for the United States government. Their job is to make sure that they are taking the necessary steps to ensure that taxpayers are paying their debt. They will do what they can to help you but to put it plainly, they’re not going to hold your hand or provide consultation services to you at any time of the day. The IRS is there for you Monday-Friday, 9 am to 4:30pm-and every other taxpayer in the country! That’s a lot of people! In fact, when you consider that many people have to send in separate returns for every business they run, you can start to see that it’s theoretically possible that they’d be dealing with more forms than there are people in the USA. While it’s never gotten quite that bad yet, they do estimate that slightly over 151 million returns were processed last year alone. How Resolving Tax Debt Issues Yourself Might Affect Your Life No wonder you’re on hold waiting for a representative! It’s not uncommon to sit on hold for an hour with the IRS. Not everyone has the luxury of sitting on hold for that long, especially during the weekday. When you finally get a live operator, you may only have a few minutes to talk! As you might imagine, IRS agents are very often backlogged with tax files from dozens if not hundreds of people. They might not know what’s best for your particular...

Read More
Tax Debt and Divorce: Who Pays the Back Taxes?

Tax Debt and Divorce: Who Pays the Back Taxes?

By on Jan 11, 2019 in Tax Tips | 0 comments

A divorce is a complicated situation no matter how you look at it. Besides all the emotional issues you have to battle, you also have to sort through a laundry list of financial issues when trying to separate merged finances. Many married couples have joint accounts, own property that belong to both, and have been filing income taxes jointly for years. So, what happens when a couple owes back taxes and they decide to divorce? Tax Debt Generally Follows Other Debt and Property Divisions The general rule of thumb is that tax debt is seen in divorce proceedings as any other kind of debt. So, when your attorneys work on the divorce settlement and determine how much each party handles, tax debt is included, along with credit card bills, mortgage balances and any other debt. If property and debts are divided evenly between spouses, then your tax debt (including back taxes) is also divided evenly and each of you is required by law to pay your share. Settlements are not always equal, however, and sometimes one side will argue to pay more tax debt in order to also receive more of the share of the property. Exceptions to This Rule For the majority of states, property and debt are divided evenly in a divorce. However, you should note that if you happen to live in one of the following states – Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin – these states treat property and debt a little differently. In those states, the property and debt you acquire during marriage is considered “community property” and split evenly in a divorce, even if one spouse is unemployed. These states consider property and debt brought into marriage as “personal property” and this is assigned to the spouse who brought it into the marriage. Property left as inheritance or that were gifted to a spouse is not considered community property. So if back taxes were brought into the marriage in these states, the back taxes would remain the responsibility of the spouse who brought them to the marriage. If you are not in one of those states, then the rules are known as equitable distribution laws. Property acquired...

Read More
Filing back taxes in 2019: 6 Helpful Tips

Filing back taxes in 2019: 6 Helpful Tips

By on Dec 12, 2018 in Tax Tips | 0 comments

Did you know that the IRS could be holding money that’s rightfully yours? They’ll gladly keep any money they owe you if you don’t file a tax return. There’s even a statute of limitations on claiming past refunds. If it expires, then you’re out of luck. Perhaps the most important tip anyone can give taxpayers who plan to file back taxes next year is don’t wait. While sending in those old returns might look like a good New Year’s Resolution, there’s no reason to wait that long. If you’re not sure where to start, have a look at some of our favorite tips. 6 Tips for Back Filing Taxpayer   1) Get All Your Documents Together Try to find all relevant 1099 forms, W2 sheets, business income records and old bills for expenses. You might not have misplaced nearly as many things as you might have originally thought. However, you should contact your employer or financial institution if you can’t find a document. They may be able to forward you any information that you’re missing. You might also consider calling the IRS and requesting income data for any missing period of time. They probably have it since every company has to report this information to the IRS. 2) Acquire the Relevant Forms Even if you’re filing back taxes in 2019 you might not be allowed to use current IRS forms. Taxpayers who have to file using information from previous years have to use the forms from those years. Fortunately, the IRS continues to distribute obsolete forms as digital PDF files on their website so you should be able to find the ones you need. 3) Substitute Lost Data with Form 4852 Many taxpayers don’t realize this, but the IRS has a substitute form for cases where taxpayers can’t find the forms they need to file back taxes. Form 4852 can replace all of the following types of documentation: 1099s W2s Pension & IRA distribution records Tax & wage statements You simply need to estimate the amounts when filling out form 4852. There’s no need to panic if it looks like some information is lost for good since the IRS is generally understanding about having to use this form in...

Read More
IRS Tax Relief Programs: Best Ways to Start Paying Off Your Debt

IRS Tax Relief Programs: Best Ways to Start Paying Off Your Debt

By on Apr 23, 2018 in IRS, Tax Resolution, Tax Tips | 0 comments

The Internal Revenue Service (IRS) estimates that well over 8 million Americans owe back taxes to the IRS.  Are you one of them? If so, it’s wise to consider how you are going to pay off your debt, as the IRS is not likely to forget that you owe them money. The best approach is to apply to a current IRS tax relief program that can help you start paying down the debt so that you are not the subject of a further investigation that could lead to a levy on your property or even a charge of tax evasion.   Here are some ideas about how to face your tax issues head on and get out from under debt once and for all: Installment Agreement Requesting an IRS installment agreement essentially allows you to pay off your back taxes over a period of time, instead of all at once. An installment agreement works very much like a credit card. You make a monthly payment that includes interest and penalties, and over the course of several years, you pay off your debt. The IRS is fairly willing to approve installment agreement requests. You can now apply for an installment agreement online if your debt is less than $50,000 and if are up to date on filing your returns.  Keep in mind that there is a small fee for applying for this program and you will still be responsible for paying interest and penalties.  Also, make sure that you make your installment agreement payments on time to avoid further problems penalty fees. Offer in Compromise  If you have a financial hardship and cannot afford to pay your debt to the IRS, you can request what is called an Offer in Compromise. The IRS will consider your income, assets, and debts when they determine if you qualify. So, you will need to be prepared to show detailed financial information in order to be considered. The IRS recommends that you explore other options for payment before an Offer in Compromise. You can find more information about the application process here.   Request More Time If you cannot pay your taxes right away and need a short-term solution until you have the money, you...

Read More
Tax Resolution Service in Atlanta, Georgia

Tax Resolution Service in Atlanta, Georgia

By on Jan 4, 2018 in Filing Taxes, free, Tax Tips | 0 comments

Success Tax Relief is a full-service tax resolution firm located in Atlanta, Georgia that has over 30 years of experience helping individuals and businesses solve various complicated tax problems. We pride ourselves in helping clients all over the United States to gain financial freedom and live debt free. Our services include: Settle Back Taxes Offer In Compromise Stop liens, levies, and garnishments Unfiled Tax Returns Settle Payroll Taxes Stop Interest and Penalties Audit Representation Stop IRS Tax Problems Audit Appeal or Audit Reconsideration Innocent Spouse and Reasonable Installment Plans We start by taking a detailed look at your unique tax situation and base it on our evaluation of documents received by the Internal Revenue Service (IRS) we provide an assessment and recommendations for your specific problem. Our trained team has handled multiple tax situations including applying for Offer in Compromise, tax preparation, IRS Audits and more.   Why Choose Success Tax Relief? At Success Tax Relief, one of our top properties is to meet our customers’ needs.We take initiative by moving beyond mobile communication and get on a personal level with our customers. Whether you come to our Atlanta office or we come to you with a face-to-face consultation, our personalized customer service helps us better serve you. If you call, you will be speaking to a trusted specialist. We’re available 24/7 to answer any of your tax questions or concerns. You need a successful and professional tax consultant that knows what they’re doing and does it well. Just take a look at what our past clients have to say. No matter what debt/payment stage you’re in with the IRS, Success Tax Relief can help you move forward in the right direction.   No Obligation, Free Consultation We have a no-obligation, free consultation online. Just provide your name, number, email, how much you owe, check mark whether it’s federal, personal, or both and whether the consultation is personal, business or both.   Our Commitment to Our Customers We are committed to giving our customers quality service. We do this in the following ways: We will explain and discuss with you all viable options to resolve your issues in terms that are easy to understand. We will provide written documentation when possible....

Read More