The Power of Solid IRS Research

When you hire WATAX the first thing we'll do is research IRS records. But why?! What's the benefit to you?

Let's dive in... Researching your IRS history is an essential first key to a succesful outcome for virtually any case.

WATAX is able to gain a bird's eye view of all the peices at play to resolve a case successfully. By utilizing trusted and secure software together with Power of Attorney we obtain for each client, we're not only able to provide this research but also conitune to monitor our client's IRS account for future red flags as well as opportunities that become available that are advantageous to our clients.

To figure out the best way to handle your tax case, we need to look at a few key things first.

• Are you caught up on your filings? To be in the IRS "compliance window," you must have filed your returns for the last 6 years. If you are missing any, we can request your transcripts to help prepare and file them for you.
• If you owe... What relief is available? Determining if a person is eligble for First Time Abatement (FTA) on penalties for an outstanding balance due is often where hidden relief can be found. Looking at yearly interest that's accrude on a debt will also guide us in seeking waivers to reduce debt as well.
• Where does your case stand? Has a specific IRS officer been assigned to your case or are you dealing with the IRS automated system? Knowing this helps us not only set a timeline, but determine what IRS threats are real and what are imagined.
• Which years do you owe money for, and when do those debts expire? The IRS generally has 10 years to collect. Checking this expiration date lets us understand possibiltes of letting a debt expire. It also helps us crunch numbers later down the line to see what settlement you'll likely qualify for.
• Continued monitoring. Once our clients are back in compliance with all back taxes processed and any liability addressed, our representation continues. We're able to keep Power of Attorney in place, so that if any futures issues, appeals, or unforseen circumstances appear WATAX is able to assess and troubleshoot quickly before the issue grows.