Top Tax Problems Solved by Tax Resolution Services in Troy, Michigan

Have a daunting letter from the IRS or the state of Michigan that you can't seem to manage? The best method for safeguarding personal assets is to seek professional Tax Resolution Services in Troy, MI. When faced with complex tax debt or a surprise audit, many taxpayers in Oakland County are overwhelmed by the situation. Failing to take action on these official notices will only aggravate the penalties and interest due. Fortunately, you are not alone in dealing with the government. At Franskoviak CPA we've been with you for more than 30 years in helping taxpayers resolve their debt. We make the involved communications hassle-free, preserve your bank accounts, and legally solve your tax matters. So let's take a look at the biggest tax issues we help with right here in Troy. We will demonstrate for you today how to get back to where you were financially before.

1. How to settle Unfiled Taxes and Missing Returns?

Are you behind on filing your tax returns for the last couple of years? This is a very common issue that quickly snowballs into a major financial nightmare. If you want, the IRS can file a Substitute for Return (SFR) on your behalf. These are government-filed returns, not including your legal business deductions or personal exemptions. This means that you end up owing a lot more money than you have to. We, local CPA's collect the old paperwork and prepare up-to-date and accurate returns. We take the place of the costly government estimates and reduce your actual tax bill with correct figures. We do the following to get you back in full IRS compliance:

  • We also request official transcripts directly from IRS records.

  • Missed Write-offs are identified, and all deductions made are used to reduce your tax liability.

  • We file accurate tax returns and replace the government's overpriced estimates.

2. Stopping IRS Tax Liens and Bank Levies

Fearing that the government might take your hard-earned wages, or freeze your bank accounts? A federal tax lien may subtly destroy the credit standing and the rights to own property. But if you don't pay a lien, the IRS will likely issue a lien next. A levy is a way the government can legally have access to your checking accounts. They'll even deduct money from your paychecks each week to pay back the tax debt.

When you find good Tax Resolution Services in Troy, MI, you can prevent such aggressive tactics. Immediate collection appeals are filed to stop current collection activity and reduce the income flow disruption. Our professionals are quick to negotiate the release of tax liens on your land.

If your tax debt is unmanageable, you may be able to settle your tax debt with the IRS.

Do your tax liabilities just keep piling up, and you can't see how you'll ever pay them off? Local families may be under constant stress and insomnia due to this heavy burden. Thankfully, the IRS has several relief programs under its official IRS Tax Resolutions umbrella. You may be able to get an Offer in Compromise (OIC) to pay your debt. If you are eligible to pay your taxes, this program can help you pay your taxes for a fraction of the amount due. If we cannot help you through the OIC, we will find alternative ways! Structured and affordable installment agreements can be established in accordance with your actual monthly budget. A "Currently Not Collectible" status can also be sought when making payments is a severe financial hardship.

top down view of couple discussing financial documents with advisor

Just got a stressful notification that your tax return has been audited?

 Working with a government auditor can be extremely dangerous and can result in serious mistakes. Auditors are key in identifying specific financial trends and need a clear, organised set of records to back up deductions. During the interview, if the wrong words are used, the scope of the audit will automatically be widened. If you're looking for tax resolution services near me, then you need a knowledgeable tax representative in your area. You have our official power of attorney during the entire audit process. The IRS agents won't be in the room to talk to you or meet face-to-face.

5. Payroll Tax Relief for Troy Business Owners.

Do you have trouble with payroll taxes if you're a business owner in the area? Backlogging payroll taxes is a very serious problem in the eyes of the IRS. The government considers its withholding of employees' money sacred funds and must be paid promptly. They will impose severe penalties against you and may be able to hold you personally responsible for these unpaid taxes. At Franskoviak CPA, our team of experts can assist business owners in resolving payroll tax disputes. We work out reasonable payment plans to help maintain your local business in profitability and thoroughly open. We also provide you with assistance to restructure your tax payments so that future payroll tax problems are avoided.

How to get your finances back in order!

Don't be overwhelmed by tax debt or let it be a burden to your business. The right Tax Resolution Services in Troy, MI, will offer you professional coverage. Local representation means you'll get personalized service from professionals who are familiar with Michigan tax laws. We create defense plans that are tailored to your specific situation and that are not capable of being replicated by tax software online. We work towards solving your debt problem so you can move forward in life. Ease the burden of tax debt with the help of our family-owned CPA firm. We are with you every step of the long and complicated negotiation.

Frequently Asked Questions

1. What is an Offer in Compromise? Am I eligible?

An Offer in Compromise is an agreement that resolves your tax debt for less. To determine eligibility, the IRS considers three factors: income, assets, and monthly spending.

 2. Can I have my wages garnished by the IRS or my accounts frozen?

Yes, the IRS can garnish wages and place a hold on your bank account. You can use the services of a CPA firm to appeal and halt these collection actions.

3. How do I get rid of a federal tax lien on my house?

The debt must be paid, or the taxpayer must be a part of a lien discharge or subordination program. We will discuss with the IRS the removal of the lien so that you can sell the property

 4. If I have outstanding taxes that are not filed from a few years back, what should I do?

IRS can file a substitute return without your deductions. Help you file proper and timely returns to reduce what you owe.

5. What are the advantages of hiring a local CPA rather than a national tax company?

National firms typically have automated scripts and do not have a Michigan tax law expert. Our team of CPAs from Troy is here to provide you with personalized strategies and face-to-face solutions to your unique problems.

Fill out the form to get a FREE quote today!

Just looking to finally end your tax woes? Call Franskoviak CPA today to set up a free, confidential tax resolution consultation. Let our experienced CPAs handle negotiations with the IRS and safeguard your financial future!

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