Tax Resolution

Our tax experts work with all types of tax problems from the most common ones like, failure to file a return at all, failure to pay taxes, Notification of tax levy, Notification of tax lien etc. To some of the most difficult tax problems which include Tax evasion or possible tax crimes.

According to a TAS analysis of IRS data, U.S. taxpayers and businesses spend about 7.6 billion hours a year complying with the filing requirements of the Internal Revenue Code.2 And that figure does not even include the millions of additional hours that taxpayers must spend when they are required to respond to an IRS notice or an audit.

 

Tax regulations, which are issued by the Treasury Department to provide guidance on the meaning of the Internal Revenue Code, now stand about a foot tall. The CCH Standard Federal Tax Reporter, a leading publication for tax professionals that summarizes administrative guidance and judicial decisions issued under each section of the Code, now comprises 25 volumes and takes up nine feet of shelf space.10 Two companies publish newsletters daily that report on new developments in the field of taxation; the print editions often run 50-100 pages and the electronic databases contain substantially more detailed information.

Individual taxpayers find the return preparation process so overwhelming that more than 80 percent pay transaction fees to help them file their returns. About 60 percent pay preparers to do the job,13 and another 22 percent purchase tax software to help them perform the calculations themselves.

  • 2023 tax year upper limits 7% higher than the brackets for 2022
  • $174,238.25 tax plus 37% of the excess over $578,125 in income
  • $4.90 trillion IRS collected in revenue.
  • 261,000,000 tax returns filed in 2021

Providing Tax Relief for Businesses Affected by the Pandemic

Throughout the pandemic, the IRS continued to administer legislative provisions that provided economic relief to businesses. Refundable tax credits were available to small and mid-sized businesses that provided paid sick and family leave to employees who took leave between April 1, 2020, and March
31, 2021.

Speak to a Tax Professional

If you receive any notifications from the IRS or any other form of correspondence regarding a mistake or monies owed, there’s no reason to panic. The best way to handle it is to speak to a qualified, experienced tax professional at Action Tax Advisores for help and to make a plan on your next steps. To learn more, contact us today.