Tax Relief Hints from StopIRSDebt to Minimize the Burden of a Job Loss
StopIRSDebt.com, experienced tax debt relief firm, provides tips and reminders to American taxpayers who find themselves out of a job in this tough economic environment. These basic reminders can reduce tax liability and prevent the burden of a tax bill too large to pay come April 15.
Job loss is an unfortunate reality for too many people. Because accrued vacation or sick time, severance and unemployment compensation are all taxable, it is the responsibility of the taxpayer to make sure enough taxes are withheld to avoid a tax bill that is too high to pay all at once. “Many of our clients are surprised by their large tax bill after getting laid off. Because their income is reduced to unemployment, they feel there should be little tax obligation. They find themselves in trouble when they don’t have the money to cover the taxes due,” says Atyria Clak, Lead Attorney for StopIRSDebt.com.
Job seekers can deduct some of the expenses incurred while interviewing and seeking work within their field. Resume preparation, agency fees, travel to interviews and other expenses can be deducted. If a move is required due to a change in job location, some of the moving costs can also be deducted.
For those who have lost a job and cannot pay their tax bill, it is important to file on time and request a payment plan. Says Clark, “Too often, changes in a job situation lead to economic hardships. If you are in over your head, seek help to resolve your tax debt and avoid ongoing interest and penalty fees.”
About StopIRSDebt.com – StopIRSDebt.com offers tax relief services for both state and federal tax debt. The team at StopIRSDebt has assisted thousands of customers and can service clients throughout the United States. From tax preparation to lifting wage garnishments, our team of tax professionals is ready to assist you. www.StopIRSDebt.com or 1-888-9-STOP-IRS
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Ronald L. from Washington
Total Savings: 100% Off!
His tax bill was reduced from $169,000 to $0. How is that even possible!? We had to roll up our sleeves and get him compliant, and it had quite an effect...... Read more
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Penny S. from Michigan
Total Savings: $3,500,000
Yes, she saved a lot of 0000's. But not everyone will float out of harm's way. If you owe the IRS back taxes, remember to accurately file your returns.... Read more
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Arthur D. from Virginia
Total Savings: $383,916
Did he really save $383,916? Yes, he really did. And then some. Arthur D. had ignored his tax obligations for over ten years when he contacted our firm, and had...... Read more
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John S. from Delaware
Total Savings: $537,480
He saved over $500,000! Like a tiger, tax debts are hungry predators. Not only do they grow quickly, but they sneak up fast and without warning, inflicting an incredible amount...... Read more
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Steven G. from California
Total Savings: $2,200,000
StopIRSDebt.com compiled all the records of account, assembled all the bookkeeping, and filed the years to bring him compliant, which reduced the balance owed to $440,000. This initially saved the taxpayer $1,838,000.... Read more
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Solon M. from Connecticut
Total Savings: $119,000
StopIRSDebt.com prepared a state Offer in Compromise which was accepted for $56,000 on the sales tax liability of $175,000. The balance was then structured for repayment over 60 months at $942.60 per month.... Read more
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Ashraf I. from Texas
Total Savings: $444,845
He saved $444,845 after our audit representation! Sometimes, good things happen to good people in bad situations. Like Ashraf I. He was diligently running his company when the IRS audited...... Read more
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Michael K. from Minnesota
Total Savings: $178,216
StopIRSDebt.com prepared an Offer in Compromise which was accepted for $5,000 on the $183,216 individual income tax liability... Read more
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Sedalia W. from Oregon
Total Savings: $48,971
StopIRSDebt.com completed 1040X Amended U.S & OR tax returns. Reduced client’s balance to the IRS from $43,176 to $10,316... Read more
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Vincent G. from California
Total Savings: $30,000
StopIRSDebt.com released Vincent's monthly wage garnishment and negotiated a partial pay installment agreement of $100 per month on a $40,000 tax liability. The taxpayer saved about $30,000... Read more
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Ibrahim A. from Texas
Avoided FBAR PENALTIES
Ibrahim A. had several bank accounts overseas, and needed representation badly in order to avoid any criminal proceedings against him. Although the client came in too late for the 2008 Offshore Disclosure Program (OVDI), StopIRSDebt.com was able to qualify him...... Read more
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David H. from California
Total Savings: 50% Off!
StopIRSDebt.com worked with the IRS Appeals division to lower the client’s $3,500 monthly payment plan down to $1,467 per month, thus reducing the client’s liability in half... Read more
