Tax Relief Services Minneapolis

Minneapolis IRS Tax Relief

MWB Tax Solutions has decades of experience providing Minneapolis tax help and tax relief. Our team of highly skilled Minneapolis tax experts work with individual taxpayers and businesses to resolve their state and federal tax problems. If you need IRS tax relief, you can turn to us for answers, even if you are already under siege from aggressive tax collection tactics against you, which may be any of the following:

Penalty for Failing to Pay & Underpayment

If someone fails to pay their taxes on time or underpays, the IRS typically imposes a penalty of 0.5% of the amount due for every month that goes by without payment, up to a maximum of 25%. Other provisions may mitigate this, which MWB Tax Solutions can help you with.

Penalties for IRS Tax Fraud

The U.S tax laws require U.S. residents to accurately and honestly complete their IRS tax returns. These figures determine how much you owe. There are harsh civil and criminal penalties awaiting taxpayers who lie on their tax returns. This is called tax fraud and is penalized very severely.

Criminal Penalties Include Tax Evasion

U.S. taxpayers are subject to criminal penalties upon conviction. If your auditor discovers criminal activity he/she could file a report with the IRS Criminal Investigation Division. You would then be tried and if convicted face fines and possible incarceration.

Minneapolis Tax Relief & IRS Penalty Abatement

If you find yourself facing any of these IRS tax situations you need immediate tax help from Minneapolis tax professionals like MWB Tax Solutions so that you can resolve your tax problems once and for all.

Wage Garnishment Help for IRS Tax Wage Levy

If you are delinquent in paying your taxes the IRS is well within its rights to garnish your wages through a tax wage levy. The IRS would order your employer to withhold money from your paycheck and send it to them until the full amount you owe in taxes is paid. This would only be after the IRS had sent you many notices warning you that they may take this action. If they get no response, they will eventually garnish your wages.

When your employer receives a tax wage levy against you he/she must obey the order. If you are at risk of having your wages garnished, reach out to MWB Tax Solutions. We are very experienced in providing Minneapolis wage garnishment help and would be able to thoroughly review your case and advise you of your options to prevent it, or if your wages are already being garnished, help you in getting it lifted.

How IRS Tax Liens Work

Taxpayers who do not pay their federal taxes risk having an IRS tax lien placed against their assets. This will likely be the first step in an aggressive collection effort to persuade the taxpayer to pay their back taxes. IRS tax liens stay active until the tax liability is paid in full. If you are delinquent in paying your taxes you are at risk of having tax liens placed against any real estate or personal property you own.

It is far easier to avoid having tax liens placed against your assets than getting them lifted after the fact. If you are dealing with an outstanding tax debt and worried about liens being issued and need Minneapolis tax relief, please contact the experienced tax experts at MWB Tax Solutions to schedule an IRS tax consultation.

The first step in this process is the IRS issuing a Notice of Federal Tax Lien, which is placed against the taxpayer. Many states use this collection tactic as well because it motivates the taxpayer to contact the taxing authority to make payment arrangements. The tax debt must be at least $10,000 before the IRS will issue the Notice. However, there have been liens filed for tax debts of lesser amounts.

Minneapolis Tax Relief for IRS Bank Levy

Issuing a levy on a taxpayer’s bank account is one of the most aggressive collection tactics that the IRS can use. When the IRS levies your bank account for unpaid taxes, it seizes the funds in your account to pay off your tax debt including interest and penalties. First, the IRS contacts your bank advising them about your unpaid taxes. At that point your account will be frozen for 21 days, giving you time to resolve the matter.

If you’re smart this is when you’ll consult with a Minneapolis tax expert to work with the IRS to resolve your IRS tax problems. If you don’t come to a resolution with the IRS during these 21 days, the bank will have no choice but to send the money in your account (up to the amount you owe) to the IRS.

The bank levy from the IRS will only apply to the money currently in the account. This means that any deposits you make in the future won’t be seized unless the IRS issues another levy at some later date. That is always their option, although this is a rare occurrence.

How MWB Tax Solutions Offers Minneapolis Tax Help & Minneapolis Tax Relief

The IRS understands that people can often suffer financial setbacks, which prevent them from having the money to pay their taxes. Therefore, the agency has several programs that people in this situation can take advantage of to resolve their tax problems. If you need Minneapolis tax help so that you can come to an agreement with the IRS to avoid aggressive collection tactics, please reach out to MWB Tax Solutions. You may qualify for one of tax relief programs offered by the IRS, as follows:

Applying for an IRS Installment Agreement

There are quite a few types of IRS Installment Agreements, each with different eligibility requirements and time frames, as follows:

Direct Debit

Under this Installment Agreement your monthly payments would be automatically withdrawn from your bank account. Direct Debit Agreements are required in certain situations to protect the interests of the IRS in collecting the money.

Financially Verified

If you do not qualify for a Streamlined Installment Agreement because your tax debt exceeds the limit, you may need to request a Verified Financial Installment Agreement. To be approved you would need to disclose all your financial information by filling out IRS Collection Information Statement Form 433.

Minneapolis IRS Penalty Abatement Help

By obtaining the help of a qualified team of Minneapolis tax professionals you can greatly improve your odds of successfully reducing or eliminating your IRS tax penalties. MWB Tax Solutions can work with you in gathering all the tax records needed to prove to the IRS that you deserve to have them eliminate your penalty charges. Without these charges, your tax debt will be reduced and you will be able to make smaller payments. Please contact us so that we can do our best to get your penalty charges removed.

IRS Offer in Compromise

Minnesota taxpayers who find themselves in serious financial peril and have no way of paying their federal taxes may be eligible to settle their IRS taxes for just a portion of what they owe. The IRS has an Offer in Compromise program that provides tax relief for those in desperate need. However, the IRS accepted less than half of the offers that were submitted last year.

MWB Tax Solutions can help you prepare and submit your offer since it requires quite a bit of detailed financial information. This must be completed correctly because the onus is on you to prove that you qualify for the tax relief provided by an Offer in Compromise. Also, the amount you offer to settle your tax debt must be the most you are capable of paying, otherwise your offer will be rejected. You can definitely increase the odds of the IRS accepting your offer if you get the specific Minneapolis tax help you need.

MWB Tax Solutions has decades of experience successfully helping Minneapolis clients submit offers under the IRS Offer in Compromise program. Please contact us to help you settle your outstanding IRS tax debt so that you can make a fresh start.