On: June 17, 2022

Tax Relief Experienced Tax Experts Pasadena

  Remember the commercial: “How do you spell relief? “R-O-L-A-I-D-S”.

When you have tax problems, you can take “Rolaids” to provide you with relief from an upset stomach.

There are other forms of relief that can more directly help you with your tax problems.

If you are in Pasadena and require tax relief assistance, you need the services of tax relief experienced tax experts in Pasadena who can offer you help to resolve your tax problems in a favorable manner.

 

What is Tax Relief?

 

Nobody likes to pay taxes.  When tax issues present you with a problem that you cannot solve, you need tax relief.

Tax relief comes in two forms.

First, tax relief can help you pay less in taxes.

Second, tax relief can help you resolve your outstanding tax liabilities.

Tax relief can be applied to Federal, state, or local taxes.

How to Use Tax Relief to Pay Less in Taxes

The use of tax relief to pay less in taxes has two parts to it.

The first part is tax planning.  As tax liabilities generally are determined on a calendar year basis, tax planning needs to be implemented during such calendar year.  Tax planning involves taking actions to minimize or defer your tax liabilities.

The second part is tax preparation.  Tax preparation involves preparing applicable tax returns to minimize or defer your tax liabilities.

Tax planning and tax preparation can reduce your tax liabilities in many different ways:

• Avoiding taxable income. With lower taxable income (through tax exemptions, tax exclusions, or non-taxable occurrences), you will pay lower taxes.
• Deferring taxable income. If you realize taxable income on December 31, 2022, you pay tax liabilities on such taxable income by April 15, 2023.  If you defer such taxable income until January 1, 2023, you will not have to pay tax liabilities on such taxable income until April 15, 2024.  Deferring taxable income gives you the advantage of paying a tax liability later.
• Incurring tax deductions. With more tax deductions, you can lower your taxable income and will pay lower taxes.
• Accelerating tax deductions. If you realize a tax deduction on December 31, 2022, you reduce your tax liabilities based on such deduction by April 15, 2023.  If you do not realize such tax deduction until January 1, 2023, you will not reduce your tax liabilities based on such deduction until April 15, 2024.  Accelerating tax deductions gives you the advantage of reducing a tax liability sooner.
• Incurring tax credits. With more tax credits, you will pay lower taxes.
• Accelerating tax credits. If you realize a tax credit on December 31, 2022, you reduce your tax liabilities based on such credit by April 15, 2023.  If you do not realize such tax credit until January 1, 2023, you will not reduce your tax liabilities based on such credit until April 15, 2024.  Accelerating tax credits gives you the advantage of reducing a tax liability sooner.

Proper tax planning and tax preparation enables you to avoid and defer taxable income, incur and accelerate tax deductions, and incur and accelerate tax credits.

How to Use Tax Relief to Resolve Your Outstanding Tax Liabilities

 

Tax relief can not only reduce your future tax liabilities, but it can also settle your already outstanding tax liabilities.

Tax relief in this context is especially valuable when you face the problem of outstanding tax liabilities that you are unable to pay.  Tax relief can settle these outstanding tax liabilities through various techniques, including:

• Payment plans and installment agreements. With a payment plan or installment agreement, you can repay your tax liabilities in installments over a longer period of time, making it easier to resolve your outstanding tax liabilities.
• Offers in compromise. An offer in compromise can allow you to resolve your tax liabilities for less than you owe.
• Protests and collection appeals. If you believe that the Internal Revenue Service has made a mistake in assessing an outstanding tax liability (often following an audit) or in any collection action, you can file a protest or collection appeal.
• “Reasonable cause”. If you believe that the portion of your tax liabilities consisting of penalties can be excused because of “reasonable cause”, you can take action to abate this penalty portion of your tax liabilities.

As part of tax relief to settle your outstanding tax liabilities, you may need to take other action (i) to qualify for certain of the above techniques, such as filing past due tax returns, or (ii) to prevent or at least slow adverse collection activity (including wage garnishments and bank levies) while you are trying to qualify for certain of the above techniques, such as attaining “currently not collectible” status based on short-term financial hardship. With effective tax relief, you can successfully settle the problem of outstanding tax liabilities that you are unable to pay in a favorable manner and move on with your life.

Hire a Tax Relief Experienced Tax Expert to Achieve Tax Relief

 

Taxes are complicated.  While tax relief can be very valuable to pursue, it may be too difficult for average taxpayers to achieve on their own.

Instead, the assistance of knowledgeable tax relief experienced tax experts can be critical for effective tax relief.  Knowledgeable tax relief experienced tax experts can help you with various tax issues relevant to tax relief, including:

• Knowledge of current tax law for purposes of tax planning and tax preparation;
• Ability to apply current tax law to your factual circumstances and enable you to avoid and defer taxable income, incur and accelerate tax deductions, and incur and accelerate tax credits;
• Understanding of how to best prepare a tax return to achieve tax relief;
• Experience in the various techniques used to settle outstanding tax liabilities, including, in particular, payment plans and installment agreements and offers in compromise;
• Success in preventing or at least slowing adverse collection activity (including wage garnishments and bank levies); and
• Achieving favorable results in negotiations with tax authorities to settle outstanding tax liabilities.

Tax relief experienced tax experts should have the knowledge to handle these tax issues at each of the Federal, state, and local levels.  

Leading Tax Group – The Best Tax Relief Experienced Tax Experts in Pasadena

 

If you are in Pasadena and want to pay less in taxes or resolve your outstanding tax liabilities, you need help from the tax relief experienced tax experts at Leading Tax Group (their experienced team consists of a former IRS tax attorney, an experienced payroll tax and sales tax attorney, a retired IRS auditor (of 40+ years), and their own in-house accounting team!).

Leading Tax Group has years of experience and high knowledge in helping its clients achieve tax relief.

Leading Tax Group has expertise in all of tax planning, tax preparation, and settling outstanding tax liabilities in a favorable manner.  It has achieved tax relief success for its clients in Federal, state (especially California), and local tax matters.

In addition, Leading Tax Group is not just one person.  It has a team of skilled tax relief experienced tax experts (their experienced team consists of a former IRS tax attorney, an experienced payroll tax and sales tax attorney, a retired IRS auditor (of 40+ years), and their own in-house accounting team!) to aid you with your tax relief problem.

Leading Tax Group, based on its significant experience with and knowledge about tax relief matters, has the best tax relief experienced tax experts (their experienced team consists of a former IRS tax attorney, an experienced payroll tax and sales tax attorney, a retired IRS auditor (of 40+ years), and their own in-house accounting team!) in Pasadena to successfully represent you in your tax relief situation.

Leading Tax Group has a conveniently accessible office in Pasadena at 225 S Lake Avenue, 3rd Floor.

If you want to resolve your tax problems with a successful outcome, you need the aggressive tax relief experienced tax experts from Leading Tax Group (their experienced team consists of a former IRS tax attorney, an experienced payroll tax and sales tax attorney, a retired IRS auditor (of 40+ years), and their own in-house accounting team!).

How do you spell tax relief in Pasadena?

L-E-A-D-I-N-G T-A-X G-R-O-U-P.

For the best tax relief experienced tax experts (their experienced team consists of a former IRS tax attorney, an experienced payroll tax and sales tax attorney, a retired IRS auditor (of 40+ years), and their own in-house accounting team!) in Pasadena, contact Leading Tax Group now at (800) 900-4250 and schedule your free consultation today!