525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
success@cashtracksfinancial.com
Friday, June 23, 2023
Thursday, June 22, 2023
Colorado Springs: How Can I Deal With Liens and Levies?
PANIC!! You have received notice of a federal tax lien or your bank account has been levied by the Internal Revenue Service. Under Internal Revenue Code Section 6321 allows the IRS to file a notice for federal tax lien to protect the government's interest. How long does the Lien continue? The lien will continue until: 1) It Expires; 2) It is Paid; or 3) It is Compromised.
What are the options are available for you? Do you any unfiled tax returns? Do you have unpaid taxes for prior years?
Work with a tax professional to represent you before the IRS help you to resolve the lien with the following options:
Option 1: Get into Compliance (required)
Option 2: Have an analysis to determine the payment options for which you qualify
Option 3: Possibly have the IRS subordinate to another lender
Option 4: Setup an installment agreement
Marcelino Dodge, Enrolled Agent, with Cash Tracks Financial helps taxpayers with unfiled tax return and tax liens.
525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
success@cashtracksfinancial.com
Saturday, June 10, 2023
My Spouse Filed Joint Tax Returns With Large Amounts of Tax Due? Am I Still Liable to Pay the Taxes?
525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
success@cashtracksfinancial.com
Thursday, June 8, 2023
Colorado Springs Video: My Spouse Has Overdue Tax and/or Owes Back Child Support! What Are My Options?
525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
success@cashtracksfinancial.com
Wednesday, June 7, 2023
Colorado Springs: My Spouse Filed Joint Tax Returns With Large Amounts of Tax Due? Am I Still Liable to Pay the Taxes?
.jpg)
You are either divorced or your spouse has passed away. Then, one day you either have money unexpectedly withdrawn from you bank account by the IRS or receive notice of an overdue tax bill from the IRS. You ask, "Why am I receiving these notices, my spouse is the one who owes the taxes?" If you either knowingly or unknowing filed a joint tax return with your spouse, according to Internal Revenue Code Section 6013, the IRS can collect tax from either spouse. This can lead to inequitable results.
One step is to determine if a valid joint return was filed. Did you provide tacit consent? Did you sign the return under duress? Was your signature forged on the return? These are just some of the questions that would need to be answered to determine if you qualify for Innocent Spouse Relief.
Marcelino Dodge, Enrolled Agent of Cash Tracks Financial of Colorado Springs can help you to determine in you qualify to file for Innocent Spouse Relief under IRC Section 6015.
525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
success@cashtracksfinancial.com
Monday, May 29, 2023
Colorado Springs Video: My Spouse Has Overdue Tax and/or Owes Back Child Support! What Are My Options?
Colorado Springs: My Spouse Has Overdue Tax and/or Owes Back Child Support! What Are My Options?
You were expecting a big refund, but instead you get an IRS letter stating that your tax refund is being applied to an outstanding overdue financial debt owed by your spouse. This debt can be overdue federal or state taxes, past due child support, or one of many reasons your federal and sometimes even your state refund can be kept by the tax agency. Is the refund completely lost? Is there any option for the spouse who does not owe the debt created before marriage?
Internal Revenue Code Section 6015 provides provides relief in these circumstances. The spouse who does not owe the debt is considered an "injured spouse." A Form 8379 can be filed either separately or with the tax return. When correctly completed the IRS will calculate what the injured spouse will receive and send their portion of the refund either in a check or through direct deposit.
Marcelino Dodge, Enrolled Agent of Cash Tracks Financial has helped many injured spouses collect their refunds for over 20 years.
525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
success@cashtracksfinancial.com
Thursday, May 25, 2023
Colorado Springs Video: What is Reasonable Cause?
525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
success@cashtracksfinancial.com
Wednesday, May 24, 2023
Colorado Springs Video: What Can I Do Get My Penalty Abated on Appeal?
525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
success@cashtracksfinancial.com
Colorado Springs: Important Question: What is Reasonable Cause?
In the Internal Revenue Manual it states that penalties can be abated for reasonable cause? What is reasonable cause? Sadly, what a taxpayer thinks is reasonable cause is not considered reasonable cause by the Internal Revenue Service. Many times when requesting penalty abatement a taxpayer has to go to appeals.
Marcelino Dodge, Enrolled Agent, can help in the request for abatement of penalties. Many times the penalty is just an honest mistake on the part of the taxpayer. Other times a detailed explanation may be needed to explain the reasons why the taxpayer qualifies penalty abatement. Other considerations are 1) Has the taxpayer had this issue before and 2) What is the taxpayer's history of compliance?
There are other factors that can also affect taxpayer's claim of reasonable cause for penalty abatement. To have the best chance for penalty abatement, maintain a good history of compliance.
525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
success@cashtracksfinancial.com
Subscribe to:
Comments (Atom)
Colorado Springs: Breathe Again: Releasing the Burden of Tax Debt and Stress
In today’s world, stress has become a constant companion — especially when it comes to taxes. For many in Colorado Springs , the weight of...
-
Tax Accountant IRS Tax Preparation Services In Colorado Springs : Tax preparation, tax preparer, tax filing, tax accountant, tax relief and ...
-
Do you dread the Monday morning after a fantastic weekend? Maybe that is how you feel about unfiled tax returns or a large tax bill. Do y...
-
Join me, Marcelino Dodge, and dive into the latest episode of Tax Answer Advisor where I tackle key tax considerations for legal professiona...
