Tax Problems

If you need help with your back tax returns, email [email protected] TODAY! Or book a FREE unfiled tax returns consultation at https://calendly.com/choice-tax-relief/unfiled-tax-returns/

Today I am talking about filing previous years' taxes, also known as back taxes. I tell you how to file your back taxes step-by-step, how many years back you can (and possibly should) file your back taxes, and more! ➡️ Email [email protected] to get help with filing your back tax returns!

There are many consequences to not filing your tax return, and it's generally in your best interest to file your back taxes as soon as possible. You should also be aware of the interest and penalties that accrue on back taxes because they can be significant, especially the penalties. Thankfully, in this video, I cover how the penalties are calculated and how you can possibly get rid of them. And even if you don't owe taxes, you still want to file to secure your previous year's tax refund. If you're wondering how many years back you can get a tax refund, I cover that too.

➡️ Email [email protected] to get help with filing your back tax returns!

⬇️ More Tax Relief Videos:
- My Offer in Compromise Basics Video: https://youtu.be/tR3uaqJE86o
- My Offer in Compromise Formula Video: https://youtu.be/1jDj6yHnjMI

⬇️ Other Resources:
- IRS Audit Technique Guides: https://www.irs.gov/businesses/small-businesses-self-employed/audit-techniques-guides-atgs
- IRS Failure-to-File Penalty: https://www.irs.gov/payments/failure-to-file-penalty
- IRS Policy Statement 5-133: https://www.irs.gov/irm/part1/irm_01-002-001#idm139624982687680
- IRS Transcripts: https://www.irs.gov/individuals/get-transcript
- Bauer v. Commissioner: https://www.leagle.com/decision/intco20120604b95
- Bizminer: https://www.bizminer.com/
- Bizstats: http://bizstats.com/

Table of Contents:
0:00 How to File Your Back Taxes
0:56 Why People Get Behind on Their Taxes
2:08 The Snowball Effect on Back Taxes
2:28 IRS Notices CP59, CP515, CP516, and CP518
3:08 You Need to Deal With This
4:10 Consequences of Not Filing Your Tax Returns
4:29 IRS Failure-to-File Penalty
5:13 IRS Failure-to-Pay Penalty
6:10 Interest Accrual on Back Taxes
6:49 Loss of Refund (How Many Years Back Can I Get a Tax Refund?)
8:20 Inability to Get a Loan
8:36 Inability to Get Student Aid
8:43 Loss or Delay of Stimulus and Other Forms of Government Aid
8:57 Loss of Immigration Status
9:10 Loss of Future Social Security Benefits
9:25 IRS Substitute for Return (BAD NEWS)
12:04 Reasons Why You Don't Want the IRS to Prepare Your Return For You
14:07 How Do You Actually File Back Taxes?
14:29 How Many Years of Back Taxes Do You Have to File?
15:13 Step 1: Figure Out What Returns You Need to File
15:26 Step 2: Determine the Order in Which You Should Prepare Your Returns
17:59 Step 3: Gather Tax Forms and IRS Transcripts
19:25 Step 4: Reconstruct Your Information
24:10 Step 5: Prepare and File Your Returns
26:45 Penalty Abatement
27:25 First-Time Penalty Relief
28:02 Penalty Relief for Reasonable Cause

#tax #taxes #backtaxes

Call 866-8000-TAX or visit https://choicetaxrelief.com/free-consultation/ to book your FREE tax relief consultation!

In this video, I explain how YOU can SETTLE with the IRS by yourself! Now, don't be fooled — there are only TWO tax relief options that could really be called a "settlement" with the IRS, and I explain them both in full in this video. So if you're looking for a full explanation of IRS tax debt relief, look no further — this video is what you need!

⬇️ Free E-Book:
- 7 Secrets About Your Tax Debt the IRS Doesn't Want You to Know: https://choicetaxrelief.ac-page.com/secrets-about-your-tax-debt-the-irs-doesnt-want-you-to-know/

Other Tax Relief Videos Mentioned:
- Offer in Compromise Formula Video: https://youtu.be/1jDj6yHnjMI
- IRS Collection Statute Expiration Date Video: https://youtu.be/gPnPyRRCX_M
- IRS Offer in Compromise Tips Video: https://youtu.be/gP8WaAaXV-Y
- Currently Not Collectible Status Explained Video: https://youtu.be/yHpCiTLrlCs

Table of Contents:
0:00 Will the IRS Settle For Less?
0:53 IRS Settlement Option #1: Offer in Compromise
6:45 IRS Settlement Option #2: Partial-Payment Installment Agreement

#taxdebt #taxrelief #taxresolution

Email [email protected] or call 866-8000-TAX today to schedule your FREE tax relief consultation!

Today I am talking about IRS installment agreements, also known as IRS payment plans.

➡️ IRS Tax Relief: Do you owe the IRS more than $10,000 in back taxes? Call 866-8000-TAX (866-8000-829) or email me at [email protected] and let me know how much you owe to the IRS / state as well as your phone number.

➡️ My Tax Relief Video Playlist: https://youtube.com/playlist?list=PLHmwDU0qD1fj_JQAqO7aczwsrtLfWOSfQ

➡️ My Tax Relief Company: https://choicetaxrelief.com/

⬇️ Other Tax Relief Videos Mentioned in This Video:
- Tax Relief Basics: https://youtu.be/62TcXIEtKnQ
- Offer in Compromise Basics: https://youtu.be/tR3uaqJE86o
- Offer in Compromise Formula: https://youtu.be/1jDj6yHnjMI
- How to File Back Taxes: https://youtu.be/l4nj4ceBz_o
- CNC Status Basics: https://youtu.be/yHpCiTLrlCs

Table of Contents:
0:00 What Are IRS Installment Agreements?
2:39 Installment Agreements and Collection Activities
4:47 Installment Agreements and Notice of Federal Tax Lien
5:58 Installment Agreements and Tax Compliance
6:40 Installment Agreements and Current Tax Liabilities
7:06 Installment Agreements and Tax Refunds
7:26 Installment Agreements and Penalties and Interest
7:51 Installment Agreement Fees
8:35 Are Installment Agreements Guaranteed?
9:18 Installment Agreement Rejection Appeals
9:50 Installment Agreements and the Collection Statute of Limitations
11:08 Installment Agreement Payment Options
11:22 How to Request an IRS Installment Agreement
12:26 Requirements For a Legitimate IRS Installment Agreement Request
13:17 Standardized Ways to Request an Installment Agreement
13:54 How to Request an IRS Installment Agreement Online
16:19 Streamlined Installment Agreements
16:52 Guaranteed Installment Agreements
17:25 Using Form 9465 to Request an Installment Agreement
18:07 Form 433-F / Collection Information Statements
18:45 Partial-Payment Installment Agreements

#taxrelief #taxhelp #irs

Call 866-8000-TAX or visit https://choicetaxrelief.com/free-consultation/ to book your FREE tax relief consultation!

Today I am talking about the offer in compromise to the IRS. One of the most popular questions I get from people who owe back taxes to the IRS is, “Logan, what is an offer in compromise? Do I qualify for an offer in compromise? How do I do an offer in compromise?” Those questions and more will be addressed in this video!

➡️ IRS Tax Relief: Do you owe the IRS more than $10,000 in back taxes? Email us at [email protected] and let me know how much you owe to the IRS / state as well as your phone number. Thank you!

⬇️ More Tax Relief Videos:
IRS Offer in Compromise Formula: https://youtu.be/1jDj6yHnjMI
How to File Back Taxes and Avoid Penalties: https://youtu.be/l4nj4ceBz_o

Table of Contents:
0:00 Offer In Compromise
3:30 What Is An Offer In Compromise?
4:50 "Baseline" Requirements To Qualify
11:45 3 Kinds of Offers in Compromise
12:20 Doubt As To Collectibility
14:25 Doubt As To Liability
15:45 Effective Tax Administration
17:25 Submitting Your Offer In Compromise
19:30 Offer in Compromise Down Payment
20:01 Offer in Compromise Application Fee
20:07 Low-Income Certification
21:40 What to Send to the IRS in Your Offer Package
22:06 Where To Send Your Offer In Compromise
22:38 After You Submit Your Offer In Compromise
22:57 What To Do If Your Offer in Compromise Is Accepted
24:23 What To Do If Your Offer in Compromise Is Rejected
25:20 Deemed Acceptance Rule
26:00 Offer in Compromise and Tax Liens
27:07 Stopping Payments on Installment Agreements
27:43 Submitting a Second Offer in Compromise
27:59 Interest Accrual
28:12 Application of Payments
28:44 Other Offer in Compromise Eligibility Factors
29:18 Stay Tuned for More Offer in Compromise Videos!

#offerincompromise #taxrelief #taxhelp

Call 866-8000-TAX or visit https://choicetaxrelief.com/free-consultation/ to book your FREE tax relief consultation!

In this video I'm giving you the exact offer in compromise formula you need to submit your doubt as to collectibility offer in compromise to the IRS. I start with explaining what the IRS is looking for (i.e. your reasonable collection potential), then discuss how to value your assets for offer in compromise purposes, then discuss how to determine your monthly income and expenses for offer in compromise purposes per the IRS Collection Financial Standards, and finally put it all together to help you determine your offer in compromise amount. This offer in compromise training is over an hour long, so be sure to take notes!

➡️ IRS Tax Relief: Do you owe the IRS more than $10,000 in back taxes? Email me at [email protected] and let me know how much you owe to the IRS / state as well as your phone number. Thank you!

⬇️ More Tax Relief Videos:
My Previous Offer in Compromise Video: https://youtu.be/tR3uaqJE86o
How to File Back Taxes and Avoid Penalties: https://youtu.be/l4nj4ceBz_o

⬇️ IRS Resources:
- IRS Form 656: https://www.irs.gov/pub/irs-pdf/f656.pdf
- IRS Form 433-A (OIC): https://www.irs.gov/pub/irs-pdf/f433aoi.pdf
- Internal Revenue Manual 5.8.5 Financial Analysis: https://www.irs.gov/irm/part5/irm_05-008-005r
- Collection Financial Standards: https://www.irs.gov/businesses/small-businesses-self-employed/collection-financial-standards
- National Standards for Food, Clothing, and Other Items: https://www.irs.gov/businesses/small-businesses-self-employed/national-standards-food-clothing-and-other-items
- Local Standards for Housing and Utilities: https://www.irs.gov/pub/irs-utl/all_states_housing_standards.pdf
- Local Standards for Transportation: https://www.irs.gov/pub/irs-utl/all_states_housing_standards.pdf

➡️ My M1 Finance Review: https://youtu.be/XNMhp9xeNq8

Table of Contents:
0:00 How Much to Offer in Compromise to the IRS
1:26 Reasonable Collection Potential
4:08 Equity Component and Income Component
6:05 Calculating Cash Value
7:30 Calculating Investments at 80% Quick-Sale Value
8:40 IRA Example (After Taxes and Penalties)
12:45 A Note About Quick-Sale Value
13:58 Valuing Life Insurance Policies
15:22 Valuing Real Estate
20:05 Doubt As to Liability With Special Circumstances
21:26 Effective Tax Administration
22:15 Calculating Vehicle Value
23:40 Calculating Miscellaneous Valuable Items Value
24:33 Calculating Furniture and Other Personal Items Value
25:43 Adding Your Assets Up
25:58 Hiding Assets From the IRS (Don't Do It)
28:34 Self-Employed and Business Information
29:28 Calculating the Income Component
31:35 Calculating Gross Monthly Income
33:05 Calculating Monthly Household Expenses
33:14 National Standard Expenses
35:11 National Out-of-Pocket Health Care Expenses
37:05 Local Expenses
37:43 Local Standard Expenses for Housing and Utilities
40:08 Local Standard Expenses for Transportation
48:03 Health Insurance Premiums
48:21 Putting Zero vs. Leaving Blank
48:48 Court-Ordered Payments (Alimony, Child Support, etc.)
49:52 Term Life Insurance Premiums
50:10 Current Monthly Taxes
50:44 Secured Debts
53:07 401(k) Loans
53:39 Other Expenses (Student Loans, Mandatory Retirement, Tuition, etc.)
56:24 Delinquent State and/or Local Tax Payments
57:50 Final Reasonable Excess Monthly Income Calculation
58:18 Determining Your Future Income Multiplier (12 or 24)
1:00:01 Calculating Your Final Offer in Compromise Amount

#offerincompromise #taxrelief #taxhelp

Email [email protected] or call 866-8000-TAX today to schedule your FREE tax relief consultation!

Tax relief is a general term used to describe various programs that taxpayers and their representatives — such as enrolled agents, CPAs, and tax attorneys — utilize to minimize or even eliminate the taxes, penalties, and interest a taxpayer owes to the IRS and other tax agencies.

These tax relief programs range from a simple phone call to the government for first-time penalty abatement to a full-fledged offer in compromise.

In this video, Logan Allec CPA answers the question, "What Is Tax Relief?" and goes over the three major IRS tax relief programs we use everyday for our clients.

IRS Tax Relief:
➡️ Do you owe the IRS more than $10,000 in back taxes and want tax debt relief? Call 866-8000-TAX to schedule a FREE tax relief consultation! Or email us at [email protected] and let me know how much you owe by year

Videos Mentioned In This Video:
➡️ Offer In Compromise Basics: https://youtu.be/tR3uaqJE86o
➡️ Offer In Compromise Formula: https://youtu.be/1jDj6yHnjMI
➡️ Filing Back Taxes: https://youtu.be/l4nj4ceBz_o

Table of Contents:
0:00 What Is Tax Relief?
2:12 Tax Relief Program Commonalities
3:10 The Three Major Tax Relief Strategies
7:03 An Offer in Compromise May Not Be the Best Option
8:10 Shady Tax Relief Companies
9:00 Tax Relief Program #1: Offer in Compromise (OIC)
11:12 State Offer in Compromise Programs
14:05 Tax Relief Program #2: Currently Not Collectible (CNC) Status
20:36 Tax Relief Program #3: Partial-Pay Installment Agreement (PPIA)