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When is the best time to address tax problems? Right now. The more
time goes by, the more interest and penalties accrue. Refund and claim statutes expire. Records and documentation disappear. And if you are in
bankruptcy ... other options expire.
Your first consultation with the tax resolution specialists at Equity Search is
free! Contact us today to
schedule your free consultation.
About Representation
Tax solutions
Fees and payments
IRS problems often feel overwhelming. It's hard to know where to
begin. There are a variety of
problem-solving approaches that can be taken based on individual
needs. Within those approaches, there are arrangement options that can
both benefit
the taxpayer and satisfy the IRS. Finding the best solution, and then
(this is key) negotiating successfully with the IRS so that an agreement
that furthers the taxpayer's interests is reached is something of an art.
Qualified tax representation professionals thoroughly understand all of the options and understand how to make them work effectively. They
should work hard to understand your unique situation, and based on years of experience, will tailor a plan specifically for you. They will even represent you so that you don’t have to deal with the IRS yourself.
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IRS officers are mostly polite and professional. That's part of
their job. But remember that their job is also to collect taxes—not
to inform you of all your options, and not to find the
best and least costly solution for each individual. If you count on the IRS to advise you in negotiations—such as Offers in Compromise or Installment Agreements—without understanding
the formulas they use to figure your payments, you could end up
agreeing to pay far more money than you can actually afford. And then
your problems continue.
If you want the best possible solution, it’s best to hire
a qualified tax professional. Equity Search can help.
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You have a legal right to be represented by the tax consultant of your choice. Paying one large lump sum to the IRS, or having all of your assets seized are not the only options. Help is
available, and tax representation is an accepted practice.
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Yes! We handle your case correspondence and meetings with the IRS, so that will never have to talk to,
or meet with, the IRS again!
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Anyone can claim they are a tax consultant—and many do, even
those without solid credentials. When choosing someone to help you
with tax problems,
look carefully at experience and credentials:
- How long have they been in business?
There are tax consultants who practice without the support of
an experienced staff. Equity Search has been solving tax problems
since 1984.
- Have they or anyone in their practice previously worked with the
IRS?
This experience provides an
in-depth, insiders’ perspective. Equity Search was founded by
former IRS representatives.
- Do they have easy access to accountants, lawyers and other professionals to whom they can collaborate on your tax problems?
A solid network of reliable professionals is essential to some tax
resolution cases. Equity Search has long-established relationships
such as these in many professional areas.
- Do they have access to funds in the event this is necessary
to help you?
Sometimes funds are needed to resolve a problem or to fund an
offer. Equity Search has these resources available to help you.
- Will they handle the entire case on your behalf?
A consultant who will not handle the case on your behalf is
not providing a complete solution. Do-it-yourself approaches are
mostly unsuccessful, and other solutions often don't keep your
best interests in minds. Equity Search fully handles your case on
your behalf, and works to find the best solution for your unique
situation.
- Do they handle both Federal and State tax problems?
Before hiring a tax consultant, make sure they can handle your
specific tax problems, including both Federal and State. Equity
search handles both.
- Is resolving tax problems their full-time job? Some
consultants handle tax resolution as a side business in addition
to doing tax returns, audits and other activities. Equity Search
clients benefit from our exclusive focus on tax problem resolution
and financial solutions.
- Have you checked their references? References are an
excellent indicator of past success. Equity Search has lists of
references available to you.
Finally, consider whether the tax consultant is looking at your case for the long haul. Tax problems are often symptoms of other issues, and the biggest payoff will come
to you from a professional who has their eye not only on solving the immediate problem, but helping ensure financial success far into the future.
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Even if you've already begun working with someone, another tax
consultant, or even an attorney or CPA, a 15-30 minute free consultation
with us can help you verify that you're on the proper course toward
resolving your tax problems and future financial success. Any
reputable professional would support this courtesy of a second
opinion.
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The primary difference is that each professional has strengths in different areas.
Each can deal with the IRS, but their only area of focus and expertise
is not usually the resolution of tax problems.
An attorney, for example, focuses on legal issues. If you have
criminal issues, Equity Search will refer you to an attorney who can
help. Most tax problems are financial problems, not criminal
problems.
Most CPAs deal with accounting, auditing, financial statements and
preparation of tax returns. Many now offer investment services:
selling insurance, mutual funds and other investments.
Equity Search concentrates strictly on solving tax problems and
financial solutions. We do not prepare tax returns or sell
investments. Because this is our only area of focus, our knowledge, experience and depth of expertise
often surpasses that of an attorney or CPA. Equity Search has a well-established network of professionals with whom we can either consult on your behalf, or refer you when necessary. Equity Search will refer you to a qualified CPA or attorney if your circumstances warrant
such a referral.
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No matter where in the United States you live, Equity Search can represent you.
Contact with the IRS is typically via telephone, fax and mail. We
represent customers across the nation, in various time zones, every day.
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An Enrolled Agent, or EA, is specially certified to represent taxpayers before the Internal Revenue Service. Enrolled Agents can generally represent any kind of taxpayers, any types of tax matters, in any IRS offices.
Enrolled Agent earn the right to practice in two ways:
- Through a rigorous examination administered by the IRS
- Through years of experience as an IRS employee.
Enrolled Agents who are certified through written examination must achieve passing scores on a rigorous, multi-part, two-day exam given by the IRS. An Enrolled Agent must
complete continuing education requirements throughout his or her
career.
Some Enrolled Agents become certified through years of past service and technical experience with the IRS. A rigorous application process is required. The IRS obtains a detailed report on the applicant’s job history with the IRS and decides whether or not an applicant is qualified for Enrolled Agent status.
Enrolled agents must keep current with the changing tax laws and regulations. A required 72 hours of continuing professional education during every three-year certification period ensures that they do
so.
Background checks are important to protect clients and ensure the integrity of the industry. All Enrolled Agents must undergo a background checks by the IRS to ensure that there is no past conduct that could justify suspension or disbarment from representing taxpayers. For
more information, see the National
Association for Enrolled Agents Web site.
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The bottom line is, get the return filed as soon as possible. The IRS is less concerned if you owe $50,000 on a return that is filed, than if you owe
$1 on a return that is not filed. When you file your returns, interest and penalties may be assessed—beyond that, the IRS prosecutes filers of delinquent
returns only in rare cases.
Filing soon can protect you against further penalties, and help
prevent the IRS building a criminal case against you. Most criminal intent falls off when you file a return,
and if you can't pay, to make a contact to say “I can’t pay.”
In all likelihood, you'll owe tax after the returns are filed, and may need to enter into an installment agreement or make an Offer in Compromise, the best approach is to hire an qualified, experienced professional to help you file the returns and deal with IRS collection issues.
After you file your returns, Equity Search can help you determine how to manage the payment process, and
can begin the tax resolution process (e.g., Offers in Compromise, Installment
Agreements, and so on). The IRS will not generally consider these agreements if you have returns outstanding.
The bottom line is, when people come forward to file their returns,
they find that an enormous burden has lifted. They stop the
"snowball effect" of money owed, and they are able to begin
dealing with their problem. You can trust Equity Search’s experience.
Call them today, get the process started, then relax and enjoy the weekend!
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If you need W-2 and 1099 information to file a return, you can use IRS Form 4506 (see our
Resources section for a link to this form.) Alternatively, call the IRS at (800) 829-8815 to request a copy of the form. You can also request a
Transcript of Account at this number, a report that describes
the amount of money you owe, the assessment date, all the payments that been posted and other information.
At this number, you can also order copies of your old tax returns, including attached W-2s or transcripts of your returns (with information such as gross income, exemptions and so on).
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Bankruptcy is an effective option for some, but not all, tax
problems. Sometimes, certain taxes are not forgiven in bankruptcy.
Complicated rules apply, and personal situations come into play. If you are contemplating bankruptcy as a solution to IRS problems, the best approach is to get professional advice from a firm that deals specifically with tax
problems. If your taxes are not dischargeable through bankruptcy, you’ll still have to deal with the taxing authorities. Equity Search finds that, in most cases, we can reduce or eliminate taxes that might survive bankruptcy.
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The IRS deals harshly with businesses that have failed to pay their payroll taxes.
Still, with proper representation, and given the appropriate circumstances, even payroll tax liabilities can be reduced.
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Offer in compromise FAQ
What is an offer in compromise?
When a taxpayer can't pay a tax debt in full, or if there is a dispute with the amount the IRS
claims the taxpayer owes, the taxpayer may propose to resolve the matter with an Offer in Compromise.
An Offer in Compromise, if accepted by the IRS, settles a taxpayer's liability for less than the full amount owed. The ultimate goal is a resolution that is in both the
government's and the taxpayer's best interest.
If the IRS agrees to your Offer in Compromise, it may agree to accept less than full payment under certain circumstances, including:
- doubt as to liability
- doubt as to collectability
- hardship
In order to maximize the possibility that an Offer in Compromise is accepted by the IRS, it is important to work with a tax
consultant who understands the intricacies of this negotiation process.
It is more or an art than a science. Even issues completely outside of the control of a taxpayer can affect the IRS decision. Equity Search has handled thousands of Offers in Compromise with great success. They can help determine whether
an Offer in Compromise is the best approach to solving a particular problem, and they know exactly how to present
a case in order to maximize the chance that the offer will be accepted.
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Why would the IRS agree to accept less money than it is owed?
The ultimate goal of an Offer in Compromise is a resolution that is in the government's and the taxpayer's best
interests. The IRS considers the following as reasons for a compromise:
- Doubt as to liability: Taxpayer demonstrated that it is not clear
whether the amount of money the IRS claims is owed is accurate
- Doubt as to collectibility: Taxpayer shows the IRS that, based upon your assets and income, you can’t afford to pay them the full amount you owe in a reasonable period of time.
- Effective tax administration offer: In rare cases, the IRS may allow you to pay less if you can show that it would be unfair to require you to pay the whole amount even if you had the means to do so. For example, if you were retired, and could only pay your debt by selling your home.
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How do I know if an offer in compromise is the right solution?
The only way to determine whether an Offer in Compromise is the right solution is to examine your complete financial situation and all appropriate tax solution options. A qualified tax
consultant will look at your
complete financial situation and tax problems, and help you find the best solution. Equity Search offers free consultations to help make this determination.
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What happens after my Offer in Compromise is accepted?
After an Offer in Compromise is accepted, the taxpayer must pay the offered amount. Afterward, tax liens and levies and released, and
the taxpayer gets a fresh start.
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Can
a person currently involved in an installment agreement still make an Offer in Compromise?
Yes. In cases where hardship is demonstrated, the installment agreement can sometimes be stopped.
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How long does it take before the IRS accepts or rejects an Offer in Compromise?
This process can take some time, from six months to more than a year. The IRS ordinarily withholds collection action while they consider
an offer. However, unless the negotiations are handled properly, payments
could be mandated that will not reduce the amount of the offer, and could even result in an increase in final payment. Equity Search can ensure that these negotiations are handled properly from the beginning so that you don’t pay any more than absolutely required.
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Our fees are determined on a case-by-case basis. The initial
consultation is free, and fees can be discussed at that time.
Remember, when you call Equity Search for your free, confidential
consultation, you will speak to a tax consultant, not a salesperson.
After the initial consultation, a payment arrangement is made that
includes certain fixed fees and a final fee that is contingent upon
the amount of reduction or savings in your tax, penalty, interest or
other liability. The fee system is explained to you in detail before
your representation begins, and any questions you have will be
answered.
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Unlike many professional service firms, Equity Search does not bill
on an hourly basis, or draw its fees from sizable retainers left on
deposit.
Charging on an hourly basis, except in rare circumstances, places
clients at a disadvantage by creating a new liability at a time when
most are often already facing difficult financial circumstances.
Hourly billing results in an unpredictable total monthly bill,
creating uncertainly as to monthly cash flow requirements. And with
monthly billing, a client is always reluctant to pick up the telephone
to discuss their case for fear of adding to the total debt.
Clients facing tax problems are also interested more in results
than the amount of time spent on their case. When a firm bills hourly,
there is no real financial incentive to save the client money.
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Some tax services take a do-it-yourself approach, offering to send you nothing more than forms you
can obtain from the IRS on your own.
Some will then submit the forms for you. There is nothing here that
you couldn't do yourself ... for free. Do-it-yourself approaches are
mostly ineffective. Without an understanding of the various options,
without knowing how to navigate
the intricacies of the negotiation process, and wanting a short-term quick fix
usually bring a taxpayer right back to the beginning. The result: the
taxpayer spends more money,
more time and undergoes more stress then necessary, and in the end,
they turn to a qualified professional. Most of our clients
want success and a final solution ... not recurring problems.
A firm charging a flat-rate or subscribing to a do-it-yourself
philosophy is not a firm supported by a highly-qualified staff with years of education and experience involved in
determining effective tax solutions. Some companies accept client
fees, and then expect the clients to handle their own cases. Not
Equity Search. And although we handle tax problems on our clients'
behalf, our services go much further. We look at the complete
financial picture, create a plan, find the best solution to remedy any
problems, handle the tax problems on their behalf, and then advise our
clients on the best possible approaches to ensure future success. Our
clients tell us they feel as if we are part of their family, and we like
to think of ourselves as a part of theirs.
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