Tax Relief, also known as tax resolution, or tax problem resolution all essentially mean the same thing, which is taking advantage of IRS or state programs designed to help taxpayers who defaulted on their tax obligations to meet these obligations. In some cases, these programs may help the taxpayer in the way they pay back their debt, such as when approved for a payment installment plan, and other times the help comes in the form of a reduction in the principal amount due, or the penalties added to the principal amount, or some or all of these. Also, relief is available to individuals and businesses, and at every level of income.It’s very important for us at Bullseye Tax Relief to assess every situation as a unique case, deciding if tax relief is suitable for you, and what type of tax relief fits your situation

Is Tax Relief for me?

It depends. Although a very large percentage of taxpayers with tax issues can find some form of relief, it is not always guaranteed. What we need to look at is the amount you owe, and if the fees to retain our services or similar service, is justified. For example, if the fees will turn out to be higher than the anticipated relief, then engaging a tax relief service may not be the best for you, in which case we will direct you to free resources that can help you manage the situation on your own. In some rare cases, we have situations that can not be worked out using the tools and programs available, In these case, we will advise you to save your financial resource

How is Bullseye Tax Relief different?

Add Bullseye tax relief, we believe that that's problem resolution is a science and art combined together. The science of understanding the tax code and available programs provided by tax authorities to help taxpayers with outstanding tax debt, combined with a deep understanding the taxpayer’s situation, and the art of putting all this knowledge in to work for you, selecting the best strategy and presenting it to the tax authorities in a way that maximizes the chances for success. Our 3A process is unique in our industry, where most firms are concerned about how many cases they can push every day, which makes them think of themselves more as practitioners, hired to complete a task, and while many of them are very reputable and truly care, they still miss the importance of the advisory aspect of tax relief. We put a great emphasis in our process on being your advisors, and we take the time to tell you what options you have available and what we believe is best for you. Last but not least, we guarantee to all our clients that we will perform a thorough analysis, and will do the work using our secure process to ensure the privacy of your data. We also guarantee that our communication will be frequent enough to keep you informed, and all our instructions will clear so you can act on them. We promise to charge fair fees and make it easy for you to pay it

What is a Trust Fund Recovery Penalty (TRFP)?

A Trust Fund Recovery Penalty can be assessed if the unpaid trust fund taxes cannot be immediately collected from the business. This often happens if the business falls on hard times and taps into that fund for any reason. According International Revenue Code 6672(a) an individual can be held liable for penalty for willful failure to collect, account for, or pay to the IRS the taxes for the business.

Who is Held Responsible for the TRFP?

According to the IRS, the TRFP can be assessed against any person who is: responsible for collecting or paying withheld employment taxes, willfully fails to collect or pay the taxes.

Tax Problem Resolution - Bullseye Tax Relief

Tax Problem Resolution

Offer In Compromise

Offer in Compromise (OIC) allows you to settle your tax debt for less than the amount you owe. Offer in Compromise was created for those in tax debt that could not pay off their debt in full without experiencing financial hardship in doing so.

Currently Non-Collectible

If you agree that you owe money to the IRS but your financial situation makes it impossible to pay what you owe without causing financial hardship, you may qualify for a Currently Non-Collectible status.

Penalty Abatement

Penalty Abatement relieves you from facing penalties for failing to file tax returns or make payments on time as an individual or failure to deposit certain taxes as a business.

Installment Agreement

If you cannot pay your tax bill in full, there are many different types of IRS installment agreements available. All of them have their own benefits. The IRS allows you to break down your debt into monthly installments.

Partial Payment Installment Agreement

The IRS may agree to allow you to pay only a portion of your debt over an allotted amount of time. In IRS payment plans you are paying an amount less than the original tax debt amount.

Federal Tax Lien

A tax lien affects your financial assets, personal property and your real estate property. Tax liens can vary based upon your individual situation. They are the government’s way of protecting their interest in case you fail to pay your tax debt in a timely manner.

Tax Lien Discharge

A tax lien discharge removes your tax lien from a specific property. If you request a tax lien discharge and the IRS accepts your request, they will give you a Certificate of Discharge.

Tax Lien Subordination

Tax lien subordination gives a creditor the opportunity to move ahead of the IRS in their claims against a property. Doing so may be necessary for real estate transactions such as a mortgage refinance.

Tax Lien Withdrawal

You maybe eligible for a Tax lien withdrawal if you have entered into a direct debit installment agreement or have come to some sort of an agreement regarding your tax debt with the IRS.

Wage Garnishment Release

The IRS can obtain a wage garnishment against your wages and earnings through your employer to satisfy a tax debt. When you obtain a wage garnishment release, the IRS agrees not to take any part of your wages to satisfy your tax obligation.

Bank Levy Release

A bank levy gives the IRS the ability to freeze your bank account and collect whatever money you have in that bank account to pay towards your tax debt. A Bank levy release will release your bank account so the IRS does not seize any more funds.

Innocent Spouse Relief

Innocent Spouse Relief relieves you from paying any penalties, interest or taxes for which your spouse is ultimately responsible for.

Statute Of Limitations

The statute of limitation is the time period established by law for the IRS to assess, review and resolve any tax related issue. Once the time period passes, the IRS forfeits any claim. How can the statute of limitations impact your tax debt situation?

Collection Appeal

A Collection Appeal allows the taxpayer to challenge the IRS’s actions for the collection of past taxes, including the placement of liens on the taxpayer’s properties. In many cases, this challenge will stop or reverse any collection processes and relieves you of any collection actions. Learn more.

Administrative Appeal

An administrative appeal allows you a second chance to reverse or stop an IRS’s decision or action that is unfair or incorrect. This may lead to a more favorable outcome for your tax situation. Learn more.

Payroll Tax Relief

Employers are expected to pay federal and state taxes for and on behalf of their employees. This are referred to as “payroll taxes”. When these taxes are not paid, there are severe penalties and interest due in addition to the original amount owed. Tax resolution can help avoid or deal with these collection processes known as payroll tax relief.

Trust Fund Penalty

The term “Trust Fund” has a different meaning when applied to employment tax rather than to wealth management. This is the payroll tax amount assessed to the officers of the business. Tax resolution can help reduce and/or arrange the payment of these taxes. Learn more about trust fund penalty.

Trust Fund Penalty Assessment

A Trust Fund Recovery Penalty is implemented by the IRS to encourage business owners to pay their employment taxes. When someone owns a small business and they fall on hard times, they may feel tempted to tap into the tax funds that they collected from their employees to stay afloat. This action has dire consequences. Learn about trust fund recovery penalty assessment.

Trust Fund Penalty Assessment Interview

A Trust Fund Recovery Penalty Interview and investigation permits the IRS (Internal Revenue Service) to collect unpaid taxes from businesses and assets of the individuals involved in the finances of the business. Read more to get help with trust fund interview.

Current Due Process

A Current Due Process hearing could be your last chance to resolve whatever tax controversy you have with the IRS.