Alliance Tax Solutions is a tax debt relief company providing viable solutions for individuals and businesses with tax debt.
QWhat are the Penalties for Individuals who Missed the July 15 Deadline?
According to the IRS, if you are an individual who owes taxes and missed the July 15
tax filing deadline, you will incur a failure to file penalty and late filing fee outlined as follows:
– The combined penalty is 5% (4.5% late filing and 0.5% late payment) for each month or
part of a month that your return was late, up to 25%.
– If after five months you still haven’t paid, the failure to file penalty will max out, but the
failure to pay penalty continues until the tax is paid, up to 25%.
– The maximum total penalty for failure to file and pay is 47.5% (22.5% late filing and 25%
late payment) of the tax.
– The late filing penalty applies to the tax that remains unpaid after the due date. Unpaid tax
is the total tax shown on your return reduced by amounts paid through withholding, estimated
tax payments, and allowed refundable credits.
– However, if your return was over 60 days late, the minimum failure to file penalty is the
smaller of $205 or 100% of the tax required to be shown on the return.
For more information about filing deadlines and penalties,Please Visit the IRS Website
QWhat Happens when I Hire ATS?
Your account will go through a multitude of steps once we bring you on. The flow goes
something like this:
1. Compliance Check: Completed with the IRS and/ or state. This provides us with a
complete analysis of what the IRS says you owe and determines if you have any
unfiled tax years.
2. Tax Preparation: This is where we prepare and deliver any missing tax returns required
to bring you into compliance.
3. Resolution: This is where we get an acceptable solution for the back taxes you may owe.
QWhat is an IP PIN and how do I get one?
An IP PIN is a six-digit number assigned to eligible taxpayers that helps prevent the misuse
of their Social Security number on fraudulent federal income tax returns. Confirmed identity
theft victims will be mailed an IP PIN if their case is resolved prior to the start of the next
filing season. Taxpayers who receive the annual IP PIN via mail but lose or fail to receive
their CP01A Notice may use the Get an IP PIN tool to retrieve their number. A new IP PIN
is generated for each filing season and can be retrieved starting in mid-January of each
year by logging into the account you create
QWhat is the Fresh Start Program?
The Fresh Start Program is an umbrella of programs that the IRS offers to settle any money
owed to them. All programs are contingent on each client’s financial situation. The following
is a list of possible options:
– PPIA (Partial Payment Installment Agreement)
– IA (Installment Agreement)
– PA (Penalty Abatement- 1st-time users only)
– CNC (Non-Collectable Status)
– OIC (offer and compromise- Income Based)
Find out more about scams here: https://bit.ly/NO_SCAMS
QWhat Options does your Company Offer to Pay for your Services?
Cash, Credit, Multiple Financing Programs (No penalty to pay off early).
QWill the IRS Garnish my Wages or Levy my Bank Account?
They can contact your bank notifying them that you have a tax liability that is delinquent.
Once that happens, the bank account is then frozen and all funds in the account will be
turned over to the IRS in 21 days. The IRS can also contact your employer notifying them
as well to send them the money from your paycheck. Don’t become a victim, call us immediately.