South Florida firm is doing its part to educate and empower the public about negotiations, settlements and resolutions with the IRS
With April 15 safely behind us, most Americans take a deep breath knowing that their taxes have been filed with the IRS.
But the IRS deadline on personal filings is just the start for many other individuals and business owners, who find themselves being audited and end up owing significant back taxes and arrears.
Coined “The April 15 hangover,” an estimated 30 million people will owe the IRS this year, an outstanding tax liability exceeding $83 billion annually.
Taxation issues are even more prevalent this year thanks to updated laws and codes under the Tax Cuts and Jobs Act (Trump Tax Plan), the first major overhaul of tax codes in 30 years.
That tax burden often results in financial ruin, with liens, wages garnished, assets seized, income zeroed-out, houses foreclosed, bankruptcies and businesses going under.
But most consumers, taxpayers and small business owners don’t know where to get help. In fact, negotiations with the IRS often prove beneficial in avoiding financial calamity – and can even result in huge savings.
Advanced Tax Advisors, a local South Florida firm, is doing its part to educate and empower the public and business owners alike when it comes to these taxation issues, offering complimentary consultations and workshops on what owners need to know to keep them in the good graces of the IRS.
“We welcome business owners who are facing a significant tax bill,” says Jose A. Ramirez, Enrolled Agent, National Tax Practice Institute™ Fellow and founder of Advanced Tax Advisors. “We’re seeing more and more people in trouble with the IRS, particularly in the field of real estate with large profits and sudden windfalls.”
It’s not just sage information they’re dispensing, but invaluable representation in IRS negotiations. In one recent landmark case, Jose A. Ramirez of Advance Tax Advisors helped a business owner who found himself in a nightmare situation, owing nearly $7 million to the IRS in back taxes from his business.
After a lengthy negotiation, Ramirez and the Advanced Tax Advisors team were able to settle with the IRS for approximately $21,000, saving the client in excess of $6 million.
While these results certainly aren’t typical, consumers or business owners who find themselves with more than $20,000in arrears to the IRS should seek help and even professional representation.
“There’s a lot that can be done with the IRS,” says Ramirez, “including negotiations, appeals, offers-in-compromise and more. But good communication is key because you can’t just avoid the problem, or it will just compound.”
Advanced Tax Advisors specializes in helping business owners mitigate their tax liability through planning strategies and IRS negotiations, serving a large South Florida clientele of real estate investors, landlords, brokers and developers, among many other businesses.
Now, they also offer free consult and keen professional advice – whether by phone, email or at their Plantation, Florida, office – to taxpayers who find themselves with a sizable tax bill or IRS issues.