Professional Tax Resolution Backed by Decades of Experience in Westwood, MA
As a business owner, you likely pay your taxes every quarter, but tax laws and obligations only seem to get more complicated. These ever-changing regulations make it easy for you to misunderstand how much you owe or file returns incorrectly. Whatever the situation, the IRS pays attention and may require them to take a closer look.
When the Internal Revenue Service informs you of a tax filing error or other issues, it pays to have a team of experienced CPAs on your side. At Donovan Sullivan Ryan, we've provided countless business owners in Westwood, MA, with expert tax resolution since 1979. Addressing simple to complex tax issues while setting your records straight is our passion.
You don't have to face the IRS alone! Contact our firm to schedule a consultation today!
What is Tax Resolution & What Does it Mean for Me?
Tax resolution can include many services designed to help you resolve issues with incorrect returns, late or non-filings, payroll, and tax debt with the IRS. This comprehensive process often caters to both individual and business needs, helping you to permanently solve tax problems while settling on tax liability for the lowest amount possible by law.
Why Would I Need Professional Tax Resolution?
Since the IRS is free to audit or receive funds by multiple means, any incorrect returns can pose a danger to your company. The IRS may seek funds for the following:
Understanding How Tax Problems Arise
Tax issues typically occur due to two circumstances: the first is inaccurate information on your tax documents, and the second is skipping on tax filing. Both cases are possible for business owners and can have devastating consequences for your company's economic standing and financial health.
At its best, an IRS audit can waste time that could be used for running your business. At worst, IRS recovery tactics such as liens and levies can drain your business of valuable capital and assets you may need to grow further. If your tax return is unfiled or incorrect, wage garnishment can also impact you on an individual level.
How Do I Solve Tax Issues?
As soon as you receive your first notice from the IRS, it's in your best interest to contact them immediately. Contrary to popular belief, the IRS is willing to work with you. The Internal Revenue Service is only there to collect that which is owed based on your financial records, not to punish you. In addition to helping you respond promptly, our team at Donovan Sullivan & Ryan wants to save you time and money while navigating through this financial hurdle.
When you employ our CPAs, you gain invaluable peace-of-mind knowing you're working with a seasoned team with decades of knowledge and skill. We work closely with you every step of the way, crafting a strategic plan designed to help you pay off your debt in the most effective ways possible.
How Donovan Sullivan & Ryan Can Help
Our Westwood, MA, firm works to adjust incorrect returns, pay back taxes, keep documents organized, and provide you with essential support in the face of an audit. Regardless of the situation or complexities of your tax issues, we are here for you.
Professional IRS Audit Representation
As CPAs, we are licensed and recognized to act on your behalf before the IRS. We work directly with the Internal Revenue Service. This means we are in constant communication with them, providing the correct documentation, and verifying your total tax debt. By doing so, we can answer any questions you have about the tax audit process, alleviate your stress, and take the headache out of your situation.
If unfiled returns are the reason for your audit, our team can file your documents with accuracy and efficiency, helping you avoid additional penalties. In wage garnishment, liens, levies, or back tax cases, we can negotiate on your behalf to create a payment plan suitable for the IRS. This gives you the chance to pay off your obligations without hurting your financial situation.
This payment plan can also include innocent spouse relief for your tax responsibilities. In extreme cases where your tax debt is beyond your means to pay, we can pursue an offer in compromise. In this case, you pay an affordable portion of the debt, and the IRS often considers the full debt resolved. However, arranging this situation requires the unique knowledge that only tax experts, like Donovan Sullivan & Ryan, can provide.
Managing Tax Debt & Penalties
As a busy business owner, trying to file countless forms on your own can increase the chance for errors by taking on more than you can manage. This can lead to late filings and mistakes that gain unwanted attention from the IRS, sometimes resulting in hefty penalties and fines.
Since paying off these debts in one lump sum is not always possible, our Westwood, MA, CPA firm evaluates your tax bill. From there, we can create realistic strategies when providing you with one of the following debt solutions:
Offers in Compromise - If you fail to file a tax return or pay the complete payment for taxes owed, you may be unable to pay the full penalties and fees. In such cases, after considering your income and assets, the IRS may accept payment of a reduced tax bill.
Payment Plans - These are also known as installment agreements. They enable you to repay your tax debt in a clear and manageable timeline. There are four types of payment plans available: partial, streamlined, tiered, and full-pay.
Filing for Bankruptcy - In certain situations, tax debt interests and penalties can be wiped out by filing for bankruptcy. In some circumstances, this may be the best solution to resolve your overwhelming tax issues.
Take Back Your Business Finances with Expert Tax Resolution!
At Donovan Sullivan & Ryan, our compassionate CPAs use their experience to help save you both time and money. We have the ability and expertise to represent your greater Boston area business before the IRS when necessary.
Let us take the burden of tackling your tax issues off your back. Contact us today!