Do you owe the IRS, or your state back taxes? If so, you need tax resolution services. Howard Tax Prep LLC Chicago tax resolution services can help you settle tax debt, negotiate monthly payments, or apply for a tax debt hardship.
Howard Tax Prep LLC has a network of experienced tax preparers with AFSP records of completion, and tax resolution consultants that are here to represent YOUR best interests in resolving your tax situation. We will work diligently to prevent any enforced collection action such as bank account and accounts receivable levies and seizure of assets. Howard Tax Prep LLC will also work with you and your Revenue Officer, if assigned, to demonstrate current compliance and create a good footing for you going forward.
If you have received an IRS notice CP2000, IRS notice CP504 intent to levy letter, or a notice before collection action letter, please contact us IMMEDIATELY.
WHAT HAPPENS IF DO NOTHING?
The Federal Government has the authority to seize your personal property & bank accounts, garnish your wages, and place liens on your assets. While owing the Federal government is scary, sometimes owing the state can be even scarier. If you owe Illinois tax debt, per the Illinois department of revenue the tax debt collection process is as follows.
ADDITIONAL ACTIONS
Ignoring this problem will not make it go away. The IRS & the States have strict deadlines that need to be met in order for you to start an appeal. We can help you, but only if you contact us.
We typically charge a flat fee for tax debt relief services. The amount of the flat fee varies from case to case depending on the circumstances. Here is a breakdown of the average flat fee we charge for common tax debt relief services:
Consultation: We offer a TIMED FREE 15 MINUTE PHONE/EMAIL CONSULTATION. After your 15-minute consultation, consultations are available in 30 minute increments. Our consultation fees are $75 for ½ hour, and $125 for an hour. Should you continue with your tax resolution services we will be more than happy to apply the consultation fee against the cost of any services that you hire us to provide, which in effect makes it free if you decide to work with us.
Removal of debt by form filing. The flat fee we charge for correcting incorrect tax balances through form filing. The flat fee we charge is for preparing & submitting of forms, financial profile collection, stopping collections, receiving documents, communicating with the IRS, and negotiating. ** PLEASE NOTE, THESE FEES DO NOT INCLUDE THE AMENDING OF THE TAX RETURN!! AMENDED TAX RETURN FEES ARE THE SAME COST AS A NORMAL TAX RETURN FEE. Fee for removal of debt by form filing:
Basic Payment Agreements: The flat fee we charge for setting up a payment plan with the IRS, and payments depend on the total amount of tax that is owed. This is because the IRS has different standards for accepting installment agreements that get progressively more stringent the higher the balance due. The flat fee we charge is for preparing & submitting financials, stopping collections, receiving documents, communicating with the IRS, and negotiating. ** PLEASE NOTE, THE FEES BELOW ARE FOR PERSONAL RETURNS ONLY! BUSINESS WILL INCURE AN ADDITONAL COST OF $300-$700 DEPENDING ON THE ENTITY TYPE. Fee for personal tax basic payment arrangements:
Settlement offer: Debt settlement for substantially less than you owe. For example, a good offer in compromise would be to settle a $150,000 debt with a mere $4,000 payment. The flat fee we charge is for preparing & submitting financials, stopping collections, receiving documents, communicating with the IRS, negotiating, and securing a settlement of tax debt with the IRS. Cost depends on the amount of the tax owed, as the more one owes, the more complex the case is. ** PLEASE NOTE, THE FEES BELOW ARE FOR PERSONAL RETURNS ONLY! BUSINESS WILL INCURE AN ADDITONAL COST OF $300-$700 DEPENDING ON THE ENTITY TYPE. Fee for personal tax settlement offers:
Partial Pay Payment Plan. Once we file your tax returns we may find that you qualify to pay a small portion of the debt, and the remaining debt in payments made over time. If this is the case, our office will then need to prepare a personal financial statement showing what you can afford to pay monthly after your personal expenses. Self-employed clients will also need to have business profit and loss statements completed. The flat fee we charge is for preparing & submitting financials, stopping collections, receiving documents, communicating with the IRS, and negotiating. ** PLEASE NOTE, THE FEES BELOW ARE FOR PERSONAL RETURNS ONLY! BUSINESS WILL INCURE AN ADDITONAL COST OF $300-$700 DEPENDING ON THE ENTITY TYPE. Fee for personal tax partial pay payment plan:
Hardship unable to collect status: Once we file your tax returns we may find that you qualify for a special hardship with the IRS. We will prepare a personal financial statements that confirms if you were forced to pay your tax debt, and necessary living expenses, you would face a financial hardship. Being classified as uncollectible does not mean that the debt goes away. It means that the IRS has determined that you cannot afford to pay the debt at this time. Penalties and interest will continue to be added to the debt **THIS DOES NOT EXTEND THE TIME THE IRS HAS TO COLLECT YOUR TAX DEBT!** The flat fee we charge is for preparing & submitting financials, stopping collections, receiving documents, communicating with the IRS, and negotiating.
Personal Tax Fee: $875 to $1,500.
Business Tax Fee: $1,350 to $2,100.
Tax Resolution Investigation of Liability Need to know where you stand with the IRS? What's the bare minimum of tax returns you should file? What do you owe? When are your tax liabilities going to expire? How should you resolve your tax problem? Includes Initial Research, IRS correspondence, Power of Attorney, Transcripts, reading of notices. CLICK HERE TO SAMPLE REPORT $295
Collection Information Data.
The next step after the investigation. We Initiate protection from IRS collection actions, pull debt records to see how much is owed at time of representation, when the debt arose, what kinds of penalties have been assessed, calculate IRS 10 Year Debt Expiration Dates (CSED), check your IRS account for changes such as audits, liens, collections, significant balance changes, and determine your options for resolving the tax debt. Flat fee of $300.
Financial Analysis Federal All tax debt solutions (whether Federal or State) are based upon a client's financial standing. The financial analysis includes your credit report, court record search, a summary of debt owed, calculation of available credit, trade account pay off dates, value of real property, value of retirement accounts, bank statement analysis, and analysis of necessary monthly expenses. $275
Financial Analysis State All tax debt solutions (whether Federal or State) are based upon a client's financial standing. The financial analysis includes your credit report, court record search, a summary of debt owed, calculation of available credit, trade account pay off dates, value of real property, value of retirement accounts, bank statement analysis, and analysis of necessary monthly expenses. $275
Financial Analysis Federal/State Combo All tax debt solutions (whether Federal or State) are based upon a client's financial standing. The financial analysis includes your credit report, court record search, a summary of debt owed, calculation of available credit, trade account pay off dates, value of real property, value of retirement accounts, bank statement analysis, and analysis of necessary monthly expenses. $395
State tax representation. Includes power of attorney, receiving of documents, request for levy/lien release, license suspension orders vacated, negotiating of payment plans, hardship waivers, stopping collection activity, and negotiating settlements if possible. $875 to $1,500 PER STATE.
IRS Tax Lien Removal If you are trying to sell or refinance your home and have a federal tax lien filed on your home, you may need a lien withdrawn, or moved into second place. The flat fee we charge is for preparing & submitting financials, stopping collections, receiving documents, communicating with the IRS, and negotiating. Fee: $950-$1,550.
Payroll Tax Debt Form 941/940 taxes. Representation and resolution of tax problem whether your business is open, closed or soon to be closed. The flat fee we charge is for preparing & submitting financials, stopping collections, receiving documents, communicating with the IRS, and negotiating. Fee: $1,275 to $6,500.
Penalty Removal: Completion of official document requesting penalty & interest waiver/abatement on personal or business taxes (includes appeals). The flat fee we charge is for preparing & submitting financials, stopping collections, receiving documents, communicating with the IRS, and negotiating. Fee: $575 to $1,800.
Other Miscellaneous Services: