tax resolution business

Can the IRS Contact Your Neighbor?

Many people have recently received letters from the IRS saying that the tax bureau may contact their neighbors, people close to them, or people in their business. 

As a general rule, the government's tax bureau can only contact third parties, including your neighbors, your company, or your bank, to obtain information or collect the taxes you owe, given that they have already sent an advance notice.

The IRS does this for the following reasons:

1) It's an intimidation factor. It's obviously something people don't like as it scares them. 

2) As a source of information. Through your contacts, the IRS mainly observes how you live, what you're doing with your money, and why you're not paying your taxes. 

If you get an IRS letter, deal with it immediately despite the numerous reasons you can come up with to put it off. Agents are investigating you; bank levies and wage garnishments can happen before you know it.

It's time to set a sound plan and prepare for the 2023 filing season. Request a free consultation at 201-479-2572 or visit www.201tax.com. 

When you owe the IRS back taxes and fail to arrange payments, you risk the seizure of your property. The bureau typically collects payment through a levy or taking the money in your bank account, doing wage garnishments, levy retirement accounts, or Social Security benefits. The tax bureau can also seize your assets, including your home, in the worst circumstances.

The possibility of losing one's house to satisfy tax debts can be a scary thought. While the IRS can get a lien on your residence, they will be required to secure a court approval and foreclosure lawsuit before pursuing your home.

Therefore, it is smart and practical to resolve your obligations earlier and take caution to avoid the unnecessary seizure of your property.

When an IRS notice arrives, let tax professionals find your ideal payment options. Let us help you solve your complex tax problems with ease. Schedule your free consultation at 201-479-2572 or visit www.201tax.com.

Do You Owe the IRS over $100,000?!? 

A six-figure debt usually causes panic, especially for small business owners. With the IRS, the longer you wait, the more interest, penalties, and potential for collections for actions against you.

There are three things you should do.

First, get a collection hold on your account. See if there's an agent assigned to your case. Get their information.

Second, get into compliance. File any unfiled returns. Determine your current income, assets, and what needs to be protected. Look for a settlement of monthly payment you can negotiate with the IRS.

Third, identify the root cause of your back taxes. This can be improper planning. Unaddressed problems will only continue. To fix this, set an estimated tax payment schedule. Know your estimated income. Sometimes, you can do tax planning or change an LLC partnership to an S-corp. Maximize deductions and improve your bookkeeping.

These simple steps will help you resolve your situation and stop it from happening again.

JLD Tax Resolution Group can help you solve a complex tax problem with ease.

Schedule your free consultation at 201-479-2572 or visit www.201tax.com. 

Hey, it's Michael Rozbruch here. Also known as the Roz Man. And I teach CPAs, enrolled agents, attorneys, and other tax professionals how to build and grow lucrative tax resolution practices. And I get this question asked so many times. "Mike, how much should I spend on marketing to attract a new tax resolution client." Well, the rule of thumb is if you're doing paid marketing like if you're doing direct mail or even radio, the rule of thumb is about 20% of your gross amount of money that you're going to be taking in should be earmarked for budgeted for marketing. For example, for one $5,000 client, the cost per acquisition is about $1,000. That's 20% of $5,000. That's what you should budget and market for your tax resolution clients. About $1,000 is the cost per acquisition for each new client. So if you wanted five new clients a month, five new clients a month at an average fee of $5,000, that's $25,000 gross a month. You need to earmark or budget about $5,000 in marketing to attract your firm's new $5,000 tax resolution clients. If you want to do more than that, that's what you need to budget. But the rule of thumb is about 20% of your top line should be earmarked for marketing. So to attract new tax resolution clients. That's the video for this week. We'll see you next time.

If you want to learn more about the lucrative nature of tax resolution, click on the link below for some free training resources that I'd like to provide to you. Tax resolution is a way for you to generate profits and cash flow all year round. And on this free training, I teach you where to find clients that have tax problems, how to attract them to you, how to take them through the initial consultation, what to charge for certain resolution alternatives, and how to collect that money. All on this free training. So if you want to learn more, if you want to gain more profits, more cash flow during the year, and stop doing just cheap tax returns, click on the link below, and I'll see you on the other side. https://rozstrategies.com/2022-challenge

Hey, it's Michael Rozbruch here, Creator of the Tax Resolution Domination System and Toolkit and Founder of Roz Strategies. Never let a client hire you only for an Offer In Compromise (OIC). Look, only 30 to 35% at most of your tax resolution clients will qualify for an Offer In Compromise because there are stringent requirements to be eligible. So most of your clients are going to be Installment Agreement (IA), Partial Pay IA, Innocent Spouse Relief and Currently Not Collectible (CNC) clients. 

Here's the thing. When a client comes to you, and they're a great candidate for an Offer In Compromise, you've got to remember that you can't guarantee anything. You can't ensure what you're going to settle the case for and the outcome because the IRS is the final arbiter, and they have the last word. So when a client comes to you, and you've determined after you've taken them through a financial consultation that they're a good Offer In Compromise candidate — write in your engagement letter and put a couple of these paragraphs. 

Prepare, submit and negotiate an Offer in Compromise "OR" (that's the keyword here) an Installment Agreement and paragraph number three, add Penalty Abatement. In this way, if the client doesn't qualify, the IRS rejects or returns your request for an Offer in Compromise, the clients don't get upset. They're not asking you for a refund because you have determined and spoke to them that hey, if you don't qualify for an OIC or if we're not successful at the end of the day, we're also going to prepare an Installment Agreement or a Penalty Abatement.

Because the client is hiring you to resolve their case on a permanent basis and hiring you for representation, don't forget to include the "OR" after the Offer in Compromise paragraph for Installment Agreement and Penalty Abatement. And that's the tip for today. We'll see you in the next video. 

If you want to learn more about the lucrative nature of tax resolution, click on the link below for some free training resources that I'd like to provide to you—tax resolution as a way for you to generate profits and cash flow all year round.

And on this free training, I teach you where to find clients that have tax problems, how to attract them to you, how to take them through the initial consultation, what to charge for certain resolution alternatives, and how to collect that money all on this free training.

So if you want to learn more, if you want to gain more profits, more cash flow during the year and stop doing just cheap tax returns, click on the link below, and I'll see you on the other side. https://www.rozstrategies.com/live-training

#taxresolution #oic #offerincompromise