Facing the Fear of Owing Taxes
Owing taxes can be a terrifying experience, and fighting the government can seem impossible. But you are not alone. At Las Vegas Debt Settlement, we are here to help you.
The Risks of Government Tax Settlement Programs
Government programs to settle taxes can be risky, complicated, and expensive. Sure, you can hire a CPA, tax attorney, or Enrolled Agent to advise you. But their job is primarily to PREPARE your taxes and advise you about your available deductions. These options are off the table when you owe taxes for past years.
Why Choose Las Vegas Debt Settlement?
As competent as many tax professionals are, their business is only marginally interested in solving your problem, a tax debt. However, at Las Vegas Debt Settlement, we are solely dedicated to relieving you of this burden. Our attorney, Dorothy Bunce, has found other alternatives to managing or eliminating tax debts when more traditional approaches fail, providing you with the peace of mind you deserve.
Gathering the Necessary Information
Please be prepared to provide us with specific details about your tax debt so we can best help you. We understand that each tax situation is unique, and we are committed to providing you with a personalized solution. Las Vegas Debt Settlement solves your tax debts in several ways, depending on your answers to these detailed questions.
Key Questions to Answer About Your Tax Debt
- Personal Tax Debt to the IRS: Is this tax debt for a personal tax to the IRS from your Form 1040 return? If so, when did you file the return? Why did you owe the tax? For example, did you withdraw money from a retirement account, under withhold taxes, or owe due to an audit?
- Real Estate Taxes: Is this tax debt for real estate taxes? If so, has the government scheduled a foreclosure sale? And when is that sale scheduled to take place?
- Federal, State, or Local Government Tax Debt: Is this tax debt for a personal tax to the federal, state, or local government? If so, was a required return filed? When was the return due? Why did you owe the tax? For example, did you withdraw money from a retirement account, under withhold taxes, or owe due to an audit?
- State or Local Government Sales or “Trust Tax”: Is this tax debt for a state or local government sales or “trust tax?” If so, was the return filed, and when was it filed? Is the business still operating? What type of entity operated the business? Did you owe this tax due to an audit? During what time did the tax debt accumulate?
Importance of Documentation
What documents have you received about this tax debt? It is vital to provide the attorney with copies of all the letters, notices, and other documents you have received from the tax authorities about this debt. What may seem unimportant to you might be a crucial piece of the puzzle that could settle this debt.
Tax Debt Solutions
Next, you need to make a significant decision and decide what you are willing to do to solve this problem. Can you borrow money from family or friends? Sell assets to pay the tax? Make monthly payments? At what point would you consider bankruptcy as an option?
Avoiding Fear-Based Decisions
Many people make a tax decision based on one emotion: fear. But that is a mistake. You should make your decision to deal with tax debt rationally, not rashly. When you have a large tax debt, emotions can distort your perception of reality. At Las Vegas Debt Settlement, we can provide the objective perspective you need to decide what is best and not be misled by emotion.
Facing Reality and Taking Action
The most challenging part of solving a tax debt solutions is facing reality and making the right decision. Many terrible things can happen if you don’t deal with a tax debt. No one should have to learn the hard way about how harsh tax collectors can be. That’s why Las Vegas Debt Settlement exists.
