What we offer

We provide our individual and business clients with the taxation expertise and knowledge that they deserve throughout the year.

At WFTFS, LLC we prefer to take a proactive vs. reactive approach to tax services. By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities. We provide our individual and business clients with the taxation expertise and knowledge that they deserve throughout the year. Tax services offered include but are not limited to tax planning & return preparation for:

IRS Tax Resolution

Before you call one of the large advertisers claiming to solve your problems for pennies on the dollar, take the time to talk to your trusted, local expert.

If you have received an IRS notice, want to release a wage garnishment, tax lien or resolve any other tax problem, you have reached the right place.

Your tax problems will not just go away by themselves, they just keep getting worse with penalties and interest being added each day. If you owe money to the IRS and/or a state, you have an issue that needs tax resolution expert like us because tax problems will stay with you unless you have a professional to fight for your rights.

WFTFS, LLC in Mainline Philadephia is here to help you resolve your tax problems and put an end to the misery that the IRS can put you through.

We pride ourselves on being very efficient, affordable, and, of course, extremely discrete.

  • We’re here to fight for your rights and get you back on track
  • We’ll handle your tax debt so you don’t have to
  • We’ll work directly with the IRS
  • We’ll keep you updated throughout the process
  • We handle all types of tax debt – any size, from the simple to the complex
  • We’ll take immediate action to help you address your tax debt
  • Get a break from threatening IRS notices and letters
  • Take immediate action to suspend collection activities
  • Request a hold on active wage garnishments and bank levies
  • We’ll find a resolution plan for you
  • We’ll have a dedicated Enrolled Agent who will act fast to help
  • Request a hold on all collection activities to help protect assets
  • Prepare and submit your resolution package
  • Work on your behalf to get you the best possible outcome

Our Tax Resolution process

Consult: Give us a call to discuss your tax situation and we will explain how we can help.

Investigate: Our Investigation process begins by filing a Tax Authorization Information Form 8821 or 2848 with the IRS and/or the appropriate form for the State Taxing authority on your behalf in order to obtain a complete record of your account. Upon completion, we will contact you to discuss the best way to address the problem.

Resolution: The resolution phase of our process begins by gathering more in depth financial information and documentation in order to prepare an in depth proposal for submission to the IRS and/or State. Our team is here for you and our goal is to not only fix your tax issues, but to keep you tax debt free in the future.

TYPES OF CASES WE HANDLE

Tax Relief – IRS Debt Forgiveness When the IRS is demanding full payment of back tax debt up-front or a payment plan that is substantially higher than what you can afford to pay, we can negotiate an offer in compromise settlement, potentially providing a forgiveness, therefore allowing you to pay a fraction of what is owed or to set up an arrangement for the lowest possible monthly payment with various options for making those payments, if you qualify.

Wage Garnishments An IRS wage garnishment is part of the IRS levy process and permitted by the Internal Revenue Code. When a taxpayer ignores the IRS notices about taxes owed, the IRS can levy property included wages. The levy notice is sent to the employer and monies are withheld from the taxpayer’s paycheck and sent directly to the IRS. A federal tax levy must leave the taxpayer with some income for living expenses, many state’s tax levies do not.

Release Bank Levies A direct seizure of property, assets, or income by the IRS. This can affect a taxpayer’s home, car, bank account, retirement funds, wages, and more. If you receive an IRS bill titled Final Notice of Intent to Levy and Notice of Your Right to A Hearing, contact us right away If you receive an IRS notice of levy against your employee, vendor, customer or other third party, it is important that you comply with the levy.

Lien Release The IRS can file a lien against a taxpayer’s property or assets, giving them the right to claim any income generated from these things as a means of settling the taxpayer’s debt.

Offer in Compromise An agreement with the IRS to pay less than what is owed, because a taxpayer cannot pay the full amount due to financial hardship.

Innocent Spouse Someone whose spouse or former spouse has made an error on their jointly filed return, who feels their spouse should be financially responsible for the debt. In some cases, a spouse will be relieved of the tax, interest, and penalties on a joint tax return. There are three types of relief available:

  1. Innocent spouse relief
  2. Separation of liability
  3. Equitable relief

IRS or State Tax Audit Representation An IRS audit is an examination of business and/or individual accounts and financial information to ensure amount being reported on a tax return are accurate and according to the tax federal or State laws. Did You Receive an Audit Letter From the IRS? – The first step is not to panic.  The IRS uses letters to communicate with taxpayers about IRS audits.  As with most IRS communication, there are deadlines associated with IRS audit letters.  You will have time to review the items that are being contested and prepare your response.  Selecting a return for examination does not always suggest that the taxpayer has either made an error or been dishonest.  In fact, some examinations result in a refund to the taxpayer or acceptance of the return without change.

Delinquent and Unfiled IRS Tax Returns Tax returns filed after the tax deadline for a particular tax year. Usually, the IRS requires that you file delinquent tax returns for the past six years. What if you fail to file? – The IRS may file what is known as a substitute return for you. However, as you well know, the IRS will not be looking to save you any money. In fact, a substitute return will not include any of the standard deductions your accountant would typically include in your return. Case in point, a substitute return only allows one exemption: single or married filing separate, so you end up with higher tax liability than if you would have just filed.

IRS Penalty Abatement Relief from tax penalties due to reasonable cause or hardship during the time the penalties were accrued. If any penalties are reduced, the related interest associated with the penalties is also reduced.

Threatening Letters The IRS carry out their threats, so ignoring an IRS threatening letter is absolutely the worst thing to do. First, you should check the facts in the letter. If there is anything amiss in their calculations or your liabilities or their assessment, write a polite letter back explaining the error or omission and see if they will remedy the situation. If they have reached the point where they are sending you threatening letters however, you may need to be a little more proactive in resolving the situation before the IRS become proactive themselves. You do not want this to happen. If you allow the IRS to take action before you do it will result in you unnecessarily suffering at their hands. The IRS has considerable powers when it comes to collecting taxes and they are rarely if ever prone to taking the lightweight approach. The IRS sends out threatening letters when they know or think they know that you owe them money; beyond that, they have little interest in you.

IRS Payment Plans and Installment Agreements If you can’t pay your back taxes in full but could potentially pay them back over time, you can negotiate a reasonable monthly payment plan with the IRS. Once an IRS Payment Plan (also known as an Installment Agreement) is established, the IRS will not enforce collection action, including the levy of bank accounts or wage garnishments, as long as you remain current with all filing and payment obligations.

Expiration of Collection Statutes The date on which the IRS has to forgo a taxpayer’s debt, 10 years from when the penalty was assessed.

Sales Tax Problems Some of the greatest challenges facing businesses are income, sales, use, and specialty taxes by state governments to collect revenue. These taxes are often confusing and hard to track without proper accounting systems in place. This usually results in additional tax assessments through audits where estimated figures can be used if records and accounting information were not properly kept or recorded. To make matters worse, regulations and guidance are often limited at the state level, sometimes making the outcomes of tax disputes unpredictable. In some situations, a state tax audit can lead to a criminal investigation.

It is critical that you consult with an attorney if your business is facing a state sales tax audit or a tax liability has already been assessed.

Payroll Tax Problems, Business Tax Audits, and Unpaid Employment Taxes and many more. If you’ve missed a payroll tax deposit accidentally, high tax penalties and interest charges begin to accrue immediately and will compound each pay period. By the time you realize your mistake, the fees are gaining steam and you’re faced with a mammoth tax bill that your business can’t afford to pay.

Another reason businesses experience payroll tax problems, is because the funds set aside for payroll tax deposits are used for other expenses or are mismanaged.

The IRS will impose tax penalties and interest builds up on the missed payroll taxes which can threaten the life of the business. If your business doesn’t have the cash or assets to pay your back payroll taxes, the IRS will not hesitate to go after individual owners. And in serious cases, they may even choose to criminally prosecute the offenders.

Resolve your IRS tax problem with the peace of mind that you are in good hands, please contact our office to set up a consultation. Serving the Mainline Philadelphia area.

Address: 10 E. Athens Ave, Suite 210B Ardmore, PA 19003

Phone: 610-989-2926

Email: [email protected]