Tax Debt Help For Individuals
Resolve Your Tax Debt And Get Back To Living Your Life
Are you one of the millions of American taxpayers who owe back taxes to the IRS or state? If so, Rockwater Associates can help identify the best and most cost-effective solutions to your tax debt problem and help you move on with your life. Our team has worked with thousands of individual taxpayers, successfully negotiating settlements that have saved them millions of dollars. If you need help dealing back tax problems, Rockwater Associates can help you:
IRS Fresh Start Programs
If you owe back taxes and receive a paycheck, the IRS can use their power to collect up to 70% of your gross income through wage garnishments. They might also use more severe collection methods like bank levies and property seizures to try and settle your tax debt. Is the IRS threatening you with certified letters demanding payment, or worse, threatening to garnish your wages? If so, the IRS Fresh Start program might be your solution, whether you’re an individual taxpayer or a 1099 Contractor.
Offer In Compromise
The Offer In Compromise resolution strategy is one of the hardest to achieve, and only a small percentage of taxpayers even qualify for it. Some taxpayers exhibit incredibly dire circumstances, such that it may be impossible to ever actually pay off all of their tax debt. However, the knowledgeable and qualified tax professionals at Rockwater Associates may utilize this option, if you qualify, to significantly reduce your tax debt.
Wage Garnishment Removal
The IRS can sometimes utilize their power to collect up to 70% of your gross income. If you owe back taxes and are currently employed, the IRS will use this method to get their debt. Living off of a fraction of your paycheck can be frustrating humiliating, stressful, and debilitating to say the least. Rockwater can help get you back into compliance with the IRS and get an approved installment plan – getting you back in control.
Innocent Spouse Relief
As a consequence of life situations, many taxpayers are often burdened with a tax obligation that actually belongs to a spouse or a former spouse. Not to worry – if this is the case, the professionals at Rockwater Associates can potentially have the entire obligation, including penalties and interest removed completely. Learn More.
Installment Agreements (Partial Pay)
Most people cannot pay their entire tax obligation in full – life circumstances just don’t let it happen. Moreover, the IRS can be very frustrating to get a hold of on the phone. Many taxpayers can spend 45 minutes or longer just on hold to speak with someone.
Our tax professionals can negotiate a reasonable and agreeable payment plan, based on your circumstances, that will allow you to pay off your tax debt slowly. In many cases, Rockwater can even get much of the interest and penalties removed.
Non-Collectible & Statute of Limitations
There are many situations where life doesn’t make it easy to pay your tax debts. If you are struggling, and barely making ends meet, Rockwater can help. If your wages only cover your necessary living expenses, and you have no assets worth getting levied, we may be able to put you in a status called, currently not collectible.
This is not a resolution as much as it is a change in your status. Penalties and interest will continue to accrue, so it is important to stay on top of this. If you are “currently not collectible” for some or all of the 10-year statute of limitations, and this time expires while you are still “currently not collectible,” the tax obligation will become permanently not collectible.
Delinquent Tax Return Filings
Many taxpayers simply haven’t filed one or more past tax returns. This is one of the first ways to get into compliance with the IRS. The IRS has a master record of all W2′s, 1099′s, and 1098′s for an individual taxpayer.
We use Master File Transcripts to ascertain your standing then and now. Since you didn’t file, the IRS files a ‘Substitute Return’ (SFR) not having taken into account such things like exemptions or status. We will be able to find out your Adjusted Gross Income, Taxable Income, Tax, Number of Exemptions and/or Filing Status. Rockwater can re-file your return and achieve a better result based on your situation.
Get the information you need to move forward with confidence.
All Walks of Life, All Kinds of Circumstances
Get Protected, Resolve Your Tax Debt
Most people don’t know that the IRS has numerous options available to taxpayers to help them get back on track. The IRS doesn’t market these options because its job is to collect as much tax revenue as possible.
At Rockwater Associates, our mission is to help you reduce your tax burden to the smallest dollar amount possible. If you’ve been receiving threatening letters from the IRS for an amount that seems impossible, don’t fear, there is hope!