Help With IRS And State Tax Issues

An accountant can be invaluable when dealing with IRS and state tax issues, providing a range of services to help navigate and resolve tax-related problems. Here’s how Banner Accounting can assist:

1. Tax Preparation and Filing

• Accurate Preparation: Ensure that your tax returns are prepared accurately and filed on time to avoid penalties and interest.
• Deductions and Credits: Identify and apply all eligible deductions and credits to minimize your tax liability.
• Compliance: Ensure compliance with federal and state tax laws to prevent future issues.

2. Audit Representation

• Audit Assistance: Represent you during IRS or state tax audits, providing documentation and explanations to the tax authorities.
• Communication: Act as a liaison between you and the tax authorities to ensure clear and accurate communication.

3. Tax Dispute Resolution

• Negotiation: Negotiate with the IRS or state tax agencies on your behalf to resolve disputes and reduce tax liabilities.
• Settlement Agreements: Help you enter into settlement agreements such as Offer in Compromise (OIC) to settle your tax debt for less than the full amount owed.

4. Payment Plans and Installment Agreements

• Installment Plans: Assist in setting up installment agreements with the IRS or state tax agencies to allow you to pay your tax debts over time.
• Penalty Abatement: Request penalty abatements or reductions if you have reasonable cause for failing to pay or file on time.

5. Tax Planning and Strategy

• Tax Planning: Develop strategies to minimize future tax liabilities and avoid issues with the IRS or state tax authorities.
• Financial Advice: Provide financial advice to help you make informed decisions that can reduce your tax burden.

6. Compliance and Reporting

• Record Keeping: Help you maintain accurate financial records and documentation required by the IRS and state tax agencies.
• Reporting Requirements: Ensure that all required forms and reports are submitted correctly and on time.

7. Innocent Spouse Relief

• Relief Requests: Assist in applying for innocent spouse relief if you are held responsible for your spouse’s tax debts under certain circumstances.

8. Tax Liens and Levies

• Resolution of Liens: Help resolve tax liens and prevent them from affecting your credit.
• Release of Levies: Work to have levies on your bank accounts or wages released by negotiating with the IRS or state tax authorities.

9. Tax Penalty and Interest Reduction

• Interest Reduction: Request reductions in interest and penalties through reasonable cause or first-time abatement provisions.

10. Bankruptcy and Tax Issues

• Bankruptcy Consultation: Provide advice on how bankruptcy may impact your tax liabilities and whether certain tax debts can be discharged.

Banner Accounting’s expertise can significantly reduce the stress and complexity of dealing with IRS and state tax issues, providing both immediate solutions and long-term strategies to maintain compliance and financial health.