Colorado Springs: Do I Need a Representative to Help With My Tax Matters? Is It Possible to Do It On My Own?

 

It is possible for a taxpayer to attempt to navigate the complicate IRS system by either preparing their own tax return or speaking with the IRS when behind on their taxes.  Keep in mind though the IRS does not always volunteer information on programs that can help taxpayers.  Sometimes tax professionals and tax representatives have to educate IRS employees on the tax statutes.

With a trained tax professional like Marcelino Dodge, EA you will save time and more importantly you likely save money even after paying fees.  Many time penalties can get reduced and if you qualify you may be able to settle your tax debt for less than you owe.  

These are just a few consideration if you feel like you want to manuever the IRS rapids on your own.

Cash Tracks Financial of Colorado Springs
Marcelino Dodge, EA
525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
www.cashtracksfinancial.com
success@cashtracksfinancial.com

Colorado Springs: Has Your Back Tax Debt Expired?

 

Do you owe taxes from several years ago?  Is the IRS still trying to collect from you?  Are you aware that under the Internal Revenue Code Section 6502 there is a 10 year limit on collections?

This 10 year limit starts on the day when the tax is first assessed, not when your tax return was filed.  There are also several actions that can extend the collection period.

What does this mean for you the taxpayer?  If you are still paying on taxes first assessed over 10 years, your tax debt may be gone and no longer collectable.  With a proper calculation of the collection period Marcelino Dodge, EA can determine if you no longer need to make payments.  Oh, what a relief that would be!

Cash Tracks Financial of Colorado Springs
Marcelino Dodge, EA
525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
www.cashtracksfinancial.com
success@cashtracksfinancial.com

Colorado Springs: How Well Trained is the Person Preparing Your Tax Return?

 

How much training does the person preparing taxes have?  Does this person get annual updates and training on the tax adjustments and changes?  These are important questions

to ensure the accuracy of your tax return preparation.

This year I had the privilege of attending the National Association of Tax Professional's Taxposium in San Antonio, Texas.  During these live classes I received training income assignment, IRS Collections, S-Corporations, and other important tax topics.  Altogether I received 18 hours of training in taxes.  This is in addition to webinars I have already done this year.  There is still more that 30 hours of training I and my staff will be completing before the year is over.

A good question to ask your tax preparer is "How many hours of continuing education have you complete?"

Cash Tracks Financial of Colorado Springs
Marcelino Dodge, EA
525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
www.cashtracksfinancial.com
success@cashtracksfinancial.com

Colorado Springs Video: How Can I Qualify for an Offer in Compromise?

 

Cash Tracks Financial of Colorado Springs

Marcelino Dodge, EA

525 N Cascade Ave., Suite 200

Colorado Springs, CO 80903

(719) 359-8789

www.cashtracksfinancial.com

success@cashtracksfinancial.com

Colorado Springs: How Can I Qualify for an Offer in Compromise?

 

You have heard the ads saying that your tax debt can be reduced from $100,000+ down to only a few dollars.  How accurate are these claims?  Do these companies do a thorough analysis?  Without a complete and thorough analysis, how can it be known whether or not you even qualify?  I highly recommend avoiding any company that fails to do a proper analysis to determine your reasonable collection potential (RCP).

Are you in filing compliance?  Are you making estimated payments or have enough withholding to cover your taxes for the year?  Each of these questions must have a "Yes" answer before an Offer in Compromise can even be submitted.

Marcelino Dodge, Enrolled Agent can help you with a complete analysis of your situation.  I can help to determine how best to approach your specific situation and determine the best possible solution.

Cash Tracks Financial of Colorado Springs

Marcelino Dodge, EA

525 N Cascade Ave., Suite 200

Colorado Springs, CO 80903

(719) 359-8789

www.cashtracksfinancial.com

success@cashtracksfinancial.com

Colorado Springs: How Can I Deal With Federal Tax Lien?

 

Cash Tracks Financial of Colorado Springs

Marcelino Dodge, EA

525 N Cascade Ave., Suite 200

Colorado Springs, CO 80903

(719) 359-8789

www.cashtracksfinancial.com

success@cashtracksfinancial.com

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.

Cash Tracks Financial of Colorado Springs

Marcelino Dodge, EA

525 N Cascade Ave., Suite 200

Colorado Springs, CO 80903

(719) 359-8789

www.cashtracksfinancial.com

success@cashtracksfinancial.com

My Spouse Filed Joint Tax Returns With Large Amounts of Tax Due? Am I Still Liable to Pay the Taxes?

 

Cash Tracks Financial of Colorado Springs

Marcelino Dodge, EA

525 N Cascade Ave., Suite 200

Colorado Springs, CO 80903

(719) 359-8789

www.cashtracksfinancial.com

success@cashtracksfinancial.com

Colorado Springs Video: My Spouse Has Overdue Tax and/or Owes Back Child Support! What Are My Options?

 

Cash Tracks Financial of Colorado Springs

Marcelino Dodge, EA

525 N Cascade Ave., Suite 200

Colorado Springs, CO 80903

(719) 359-8789

www.cashtracksfinancial.com

success@cashtracksfinancial.com

Colorado Springs: My Spouse Filed Joint Tax Returns With Large Amounts of Tax Due? Am I Still Liable to Pay the Taxes?

 

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.

Cash Tracks Financial of Colorado Springs

Marcelino Dodge, EA

525 N Cascade Ave., Suite 200

Colorado Springs, CO 80903

(719) 359-8789

www.cashtracksfinancial.com

success@cashtracksfinancial.com