My dream job came along in 2002. Opportunites that finally gave me the chance to get up and go to work at a job that meant something to me and made me feel like I was doing some good after years of putting time at a job that was mediocre but not I had planned for my life. PreferredTaxRelief
Changing my tax filing status from being an employee who receives a W-2 to becoming an independent contractor and receiving a 1099 comes along with the fabulous opportunity. When it comes to making quarterly tax payments to the IRS, I had never been responsible for saving part of my income.
I started the new job as an independent contractor, enjoying my new responsibilities – and also enjoying the “extra income. But this wasn’t really extra income. I did not have an employer withholding taxes for me, it was just the portion of my pay that had not yet been taxed and it is up to me to pay it.
Don’t get me wrong as a person who would scam the IRS or use money that does not belong to me. I have always been a meticulous record-keeper, in fact.
Although I had every intention of making may tax obligation, there was always something that come up that was more important than saving the money for quarterly tax payments I told my self, that saving money for the tax payment would begin next week each time. Until the “next week” turned into “next month” or the following month and I had not reserved the needed cash.
It was past five years that I had paid my taxes. It is quite a surprise that I had not heard a peep from the IRS. I had assumed that, if something was truly wrong, they would have been beating a path to my door to make me live up to my obligations.
When I decided to put my financial affairs in order, I learned that I was so far in debt to the government that I saw no possible mean to recover. The penalties and interest had been accruing, along with the late taxes, and the dollar amount that I owed was astronomical.
Hoping to resolve the problem on my own, I spent quite a bit of time going through my records and filing my late tax returns. But this is just too much for me to handle.
The final straw for me was when I found out that the IRS expected to be paid in full immediately, and if I was unable to pay, they would begin garnishing my pay and my bank accounts until my debt was satisfied. Would I have to sell my house and vehicles in order to pay this off? What if I had a really good month and made a lot of sales? Would the IRS step in and take that money, leaving me without a way to ever really get ahead? Tax Relief
My wife and I began surfing the Internet to learn as much as we could about the processes and procedures when the IRS goes after debtors. We wanted to be prepared, but it was so confusing because there are so many web sites out there. We weren’t sure which ones were legitimate and which ones might be steering us wrong in order to make a buck off of our misfortune.
Then after choosing several businesses that we found on the web, we started making phone calls to get an idea of what we might do next. The first few places that we called gave us a strange vibe. We were not comfortable with them at all. But the third place that we called, Preferred Tax Relief, made us feel totally at ease.
That was the beginning of our relationship with Preferred Tax Relief. These tax professionals made such a difference in our lives and we don’t know what we would have done without them. They gave us prompt, courteous, and honest answers to our queries.
We left everything up to Preferred Tax Relief and they came through for us. They negotiated a monthly installment program that fit into our budget with no problems and they were able to get the tax levy lifted.
I highly recommend Preferred Tax Relief if you are experiencing a similar situation. Whatever you do, do not wait for another day as the penalties and interest continue to pile up. Without seeing your paycheck or bank account being garnished, give Preferred Tax Relief a call for you to be on your way toward fulfilling our obligations to the Internal Revenue Service. Tax Relief Advice