Damon Tax Services

Services

In addition to preparing your current tax return, we can file unfiled tax returns back ten years.

 
Offer in Compromise
 

The IRS allows a taxpayer to file what is known as an "Offer in Compromise" in order to settle all taxes, interest, and penalties
owed. This program has been much celebrated, but is little understood.

An Offer in Compromise (or just "offer") is where a taxpayer proposes to pay less (sometimes a lot less) than is owed. There
usually is very little consideration of how the debt came to be, or why it is owed. Most often the taxpayer just owes more than he will ever be able to pay. Once the IRS accepts the offer and the taxpayer pays what he proposes, the remaining debt is completely wiped out forever. The taxpayer, however, must comply with all tax laws for five years. There are various other conditions as well. If you don't consult with us, you should seek help elsewhere.

The amount of the offer the IRS will accept varies, depending upon the circumstances of the taxpayer. There are asset and
income formulas which must be taken into account. The values of what you own must be determined, but in a different manner
than what most of us are used to. The IRS will need a list of your personal living expenses to determine how much money you
have left at the end of the month. This is how they tell whether you would be able to pay the whole debt off over time. The
monthly expenses, however, are limited to certain averages. You must know these limits before you file.

The key to a successful offer is experience. We know how to work the system. I have never lost a case.

If you don't qualify for an offer in compromise you can probably qualify for a long-term payment arrangement.

Call our office today to find out if you qualify for an offer or payment arrangement. (513) 574-1946

Tax problems    


Audits and Notices

 

 

Being audited is very unpleasant, even if you filed a perfectly correct return. As a Enrolled Agent, I, know first hand how the IRS tries to use the rules to their own benefit. I have seen how the IRS takes advantage of those who don't know the ways that exist to fight the IRS. The key to fighting the IRS in an audit is preparation. You need to go in there with what the law requires. If you have that, there's not a thing they can do to you. The trick is knowing what to bring. (and of course, finding it!)

When I, an Enrolled Agent, handle a tax audit, the IRS knows they are dealing with a professional. They see a polite, respectful, but firm individual who will settle for nothing but the best result possible for his client. My approach is to make sure that every IRS employee who ever meets me knows that I am always prepared for anything they can throw at me. I will only show anger when the time is right, and only if it will benefit the client. Too many practitioners just go in guns blazing. It's the wrong approach. You've got to be likeable without trying too hard. You have to earn their respect. You have to make them want to help the client.

I also provides advice to those who desire to handle IRS audits and notices on their own. I, Damon Robbins, as an Enrolled Agent , have the ability to be authorized to represent taxpayers in all fifty states and clients living abroad. If you have received that dreaded notice, "your return has been chosen for an audit," from IRS call our office at once (513)574-9087. We can go for you.

IRS Penalty

 
 
Penalty Removal
 
 

The IRS is more penalty happy than ever. There are late payment, late filing, negligence, fraud preparer, substantial overstatement, over valuation, failure to file information, trust fund recovery, underestimation of tax, premature distribution, late distribution, excess distribution and dozens of other penalties.

Many of these penalties can be abated through showing "reasonable cause." The most notable exception to this is the Trust Fund penalty under section 6672 which we will discuss later.

Reasonable cause is a term which means that a reasonable person would not have been expected to comply with whatever rule
was broken because of the difficult circumstances that affected the taxpayer. Illnesses usually work, or reliance on incorrect
professional advice is also a good one. Obviously the excuse has to be true. We're not telling anyone to lie, especially about
illnesses.

The Trust Fund Penalty is a penalty which is imposed on someone who was supposed to withhold taxes such as payroll taxes and send them to the government, but didn't do so. Most often the IRS takes the "shotgun" approach and assesses the penalty against all the officers. This is incorrect. The person under the law who should be hit with this penalty is the "responsible person." This person is the one who made the decision to not pay the government in favor of paying someone else. It could also be the officer who knew about the problem and didn't take any steps to do anything about it. Consideration is given to check signing authority, who signed checks, who paid bills, signed tax returns and made other financial decisions.

Even if the IRS determined that a person is a "responsible person," that does not mean that nothing can be done to get someone off the hook. One thing is clear, if you have been hit with penalties, consider applying for abatement. Call our office to get started on making your penalties go away. (513)574-1946