Tenina Law Firm provides a wide range of bankruptcy services to clients in California and the United States through attorneys who are committed to excellence, dedication, and teamwork. Our expert bankruptcy attorneys serve individual consumers in any bankruptcy situation. Whether a Chapter 7 or Chapter 13 bankruptcy best suits your needs, Tenina Law will work diligently on your behalf to help you restart your life.
It's the middle of March and the tax filling deadline is looming in the distance. If you prepared your #taxes and you owe the #IRS, call me for a free evaluation before you file and pay your taxes with your hard earned money. My 20 years experience in the #tax field allows me to see if you qualify for a settlement for less then you owe.
What to do if you want to pay your fair share of taxes, but you cannot afford it?
One solution is an 'offer in compromise.'
An offer in compromise is an agreement between the taxpayer and the IRS that allows the taxpayer to settle his tax debt for less than the amount he owes. There are two types of offers in compromise: lump sum offer and periodic payment offer.
In order to have the debt balance wiped clean, the taxpayer needs to qualify for the program. Upon reviewing a taxpayer’s application, the IRS will take one of the following actions: 1) accept the offer, 2) return the offer due to an incomplete application or circumstances that make the taxpayer unqualified, 3) reject the offer, or 4) ask for additional information and begin the negotiation process again.
Dealing with the IRS means that you are dealing with your financial future. When you are looking for help, realize that you are not buying an everyday product. You want to be sure that you hire a professional who knows what they are doing, understands your case, and can provide you with your best options.
To avoid mistakes in your application that could lead to rejection or further complications with the IRS, Tenina Law is here to help you. With extensive experience dealing with the IRS Collections Division, Alla Tenina can quickly analyze your tax situation and find the best method to resolve your tax problem either through offer in compromise or another program offered by the IRS.
Considering the fact that the IRS is more likely to give a professional a more favorable agreement than an ordinary taxpayer, Tenina Law can help you achieve the result you need.
"If you're starting a business and intend to keep it, not only should you hire a tax attorney – you should also keep his or her phone number on file. 'Every business owner should have a tax attorney that they consult as a part of making major decisions. Engaging a tax attorney on the front end may save you bunch of money and frustration later,' Avery says."
Another Chapter 11 Plan CONFIRMED !!! Debtor had a workers competition audit which resulted in $487,000 assessment. After a failed settlement negotiations, the corporation was forced to file Chapter 11. After successful confirmation of Chapter 11 plan, state compensation Fund will only receive - 15.2% over the period of 5 years.
BREAKING NEWS FROM THE IRS
The Internal Revenue Service announced today that it is providing taxpayers an additional day to file and pay their taxes following system issues that surfaced early on the April 17 tax deadline. Individuals and businesses with a filing or payment due date of April 17 will now have until midnight on Wednesday, April 18. Taxpayers do not need to do anything to receive this extra time.
Tenina Law successfully settled another Offer in Compromise, the first one for this year! Client owed from 2012 – 2016 for a total of $9,091.74 and we settled for $165.88. We are so excited for the clients, when he found out the news he couldn’t believe it! These are the reasons why we do what we do, the reward and happiness of each client is what makes all the hard work worth it! Congratulations again !
Under new Regulations, the IRS will now start to assign overdue federal tax debts to private collection agencies.