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Posts Tagged ‘Instant Tax Solutions’

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Ian Woodman, Idaho Tax Relief Business Owner, Discusses Common Tax Issues

In Finance on May 4, 2012 at 12:17 pm
Ian Woodman Idaho

Ian Woodman Idaho

Ian Woodman, Idaho co-founder of Instant Tax Solutions, often hears questions from taxpayers about tax issues. Pages and pages of regulations overwhelm most taxpayers, many of whom simply want an expert to explain the laws in plain English, says Ian Woodman. Idaho residents interested in tax resolution know that co-founders Byron Pedersen and Ian Woodman of Idaho stand ready to serve.

In this brief article, Ian Woodman of Idaho ’s Instant Tax Solutions describes some of the most common tax issues the company encounters in their work with taxpayers. The team at Instant Tax Solutions regularly works with the IRS to resolve tax issues that Ian Woodman says Idaho clients encounter.

One of the most common issues encountered by taxpayers, according to Ian Woodman, Idaho tax relief business owner, is past due taxes. Many taxpayers come to Instant Tax Solutions with a debt they cannot pay, says Ian Woodman. Idaho company Instant Tax Solutions can help taxpayers work out a payment plan that the taxpayer can afford while still satisfying the IRS, says Woodman.

Another issue, according to Ian Woodman of Idaho, is a fear of being audited. This fear, says Woodman, causes business owners and other self-employed individuals to avoid claiming deductions that could save them perhaps hundreds or thousands of dollars a year. The truth is, audits aren’t as common as you think, Ian Woodman of Idaho says, especially for those who are honest.

Tax liens are another common concern at Ian Woodman’s Idaho Instant Tax Solutions office. If a taxpayer has an outstanding debt to the IRS that has been left unpaid for a long time, the IRS may assess a lien on that taxpayer’s property. Ian Woodman, Idaho co-founder of Instant Tax Solutions, says that the IRS will usually work with these taxpayers to come to an agreement to pay the tax debt off.

Ian Woodman’s Idaho Instant Tax Solutions has helped clients worldwide recover from some of the most complex tax issues. The company’s stated mission is to provide fair tax representation by providing easy-to-understand explanations of IRS tax laws. For more information, visit http://www.instanttaxsolutions.com

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Instant Tax Solutions | Ratings and Reviews of Common Tax Problems

In Finance on April 26, 2012 at 1:28 pm
Instant Tax Solutions Ratings

Instant Tax Solutions Ratings

Instant Tax Solutions Ratings and Reviews Team says U.S. taxpayers with problems now have more options.

The IRS, says the Instant Tax Solutions Ratings and Reviews Team, can be confusing and intimidating. It doesn’t have to be, however, as there are solutions to common problem. The Instant Tax Solutions Ratings and Reviews Team points out that, while the IRS can and does act swiftly in cases of delinquency, they do have provisions that allow for unexpected circumstances.

When a taxpayer simply does not have all of their supporting documentation in order, the Instant Tax Solutions Ratings and Reviews Team advises that an extension of up to four months may be requested – however payment of any owed taxes is still due. If money is the issue, such as when a medical emergency has all available funds tied up, a taxpayer may request to delay their liability by up to 6 months, says the Instant Tax Solutions Ratings and Reviews Team.

The Instant Tax Solutions Ratings and Reviews Team points out that filing or paying late can result in heavy fines and penalties. Taxpayers may request that these fees be removed if extenuating circumstanced can be substantiated; for instance, the Instant Tax Solutions Ratings and Reviews Team notes that personal tragedy such as a major illness or auto accident may be forgivable delays. In these situations, penalties abatement may be requested. The Instant Tax Solutions Ratings and Reviews Team encourages taxpayers to ensure that they have proper documentation to support their request, and to always send copies – never release an original document.

According to the Instant Tax Solutions Ratings and Reviews Team, even old debt may be considered for penalties abatement. If the taxpayer can show reasonable cause for the delay and can prove they acted in good faith to pay, the Instant Tax Solutions Ratings and Reviews Team notes that having some of the penalties canceled can be a great start at getting their debt under control.

There are even provisions in the IRS tax code that allow for deductions to be considered when the IRS denies them, notes the Instant Tax Solutions Ratings and Reviews Team. For taxpayers who should be entitled to certain deductions but have misplaced records, the Instant Tax Solutions Ratings and Reviews Team points out that having an affidavit, that is the written testimony of the taxpayer claiming the deductions are legit, is often a sufficient replacement to an original receipt.

These are just a few situations where a tax bill can be reduced. Instant Tax Solutions offers ratings of taxpayers’ economic status to help them determine if any of the IRS programs are a good match. For more information on the firm, or for Instant Tax Solutions ratings, reviews, and services offered, please visit http://www.instanttaxsolutions.com

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The Instant Tax Solutions Reviews Team Discusses Tax Relief Options

In Attorney, Law Firm, Legal on March 26, 2012 at 5:08 am
Instant Tax Solutions Reviews

Instant Tax Solutions Reviews

Can back taxes owed get resolved? The Instant Tax Solutions Reviews Team says yes and insists that now taxpayers have more options than ever. In today’s exclusive interview, the Instant Tax Solutions Reviews Team tells Presentation Solutions exactly what programs are available.

Presentation Solutions: Good morning. Let’s get started. Can you tell us what options the IRS offers for back tax relief?

Instant Tax Solutions Reviews Team: There are four main programs: Innocent Spouse, Penalty Abatement, Installment Agreements, and Offer in Compromise.

Presentation Solutions: Tell us a little about Innocent Spouse.

Instant Tax Solutions Reviews Team: Basically, if a spouse is not aware that their partner has filed erroneous claims and incurs life-altering charges as a result, then the IRS may be willing to offer some forgiveness.

Presentation Solutions: What other types of relief are there for married couples?

Instant Tax Solutions Reviews Team: There are also programs targeted at those with understated tax issues and Equitable Relief.

Presentation Solutions: Moving along, you mentioned Penalty Abatement. Tell us more.

Instant Tax Solutions Reviews Team: This is a fairly difficult form of relief. This actually does not take the original liability away.

Presentation Solutions: It doesn’t? How does it help?

Instant Tax Solutions Reviews Team: If accepted, this program will remove a portion–or all–of the penalties incurred during the time the tax debt was not paid.

Presentation Solutions: Why is it difficult to get approved?

Instant Tax Solutions Reviews Team: There must be extenuating circumstances involved, such as major illness or another abrupt disruption in the taxpayer’s life. Installment Agreements are more common than abatements.

Presentation Solutions: Really?

Instant Tax Solutions Reviews Team: Yes. Far more taxpayers will qualify for an installment agreement. This is similar to a credit card bill, with a set minimum payment each month until the balance is $0.

Presentation Solutions: Are there any programs that reduce the principal balance?

Instant Tax Solutions Reviews Team: Yes. That would be the OIC, or Offer in Compromise, program.

Presentation Solutions: What is that?

Instant Tax Solutions Reviews Team: This program allows the IRS to actually reduce the amount owed to a sum that they can reasonably expect to collect.

Presentation Solutions: What situations warrant an OIC?

Instant Tax Solutions Reviews Team: If the IRS believes they will never collect the full amount or if a severe hardship would occur as a result of paying the balance.

Presentation Solutions: A severe hardship?

Instant Tax Solutions Reviews Team: Yes. For instance, if the individual has the means – the assets – to fulfill his debt but then his or her family’s well-being would suffer.

Presentation Solutions: So this is only for the public – not businesses?

Instant Tax Solutions Reviews Team: If a business would be forced to close and that business is a taxpayer’s income source, there is a chance it would qualify for an OIC/Hardship.

Presentation Solutions: And what about actually filing back tax returns?

Instant Tax Solutions Reviews Team: Before any of the previously mentioned relief programs can even be considered, the IRS expects all tax records to be completed.

Presentation Solutions: How does a taxpayer know which years are needed?

Instant Tax Solutions Reviews Team: That is where we come in. Instant tax Solutions reviews our client’s previous year’s taxes for them.

Presentation Solutions: That sounds like a lot of work.

Instant Tax Solutions Reviews Team: It is. That is why many taxpayers just leave their debt unchecked.

Presentation Solutions: It’s good to have an experienced tax professional on your side.

Instant Tax Solutions Reviews Team: Absolutely. We certainly recommend it!

Presentation Solutions: Well, that is all the time we have today. Thank you again. We always look forward to speaking with you – especially as tax season gets closer and closer.

Instant Tax Solutions reviews this and other IRS information for educational purposes only. The information provided by the Instant Tax Solutions Reviews Team is not intended to replace the advice of a seasoned tax professional.

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Ian Woodman’s Bucket List: Australia, Asia, and Africa

In Lifestyle, Professionals, Travel on March 26, 2012 at 4:12 am
Ian Woodman

Ian Woodman

Ian Woodman has Australia, Asia, and Africa at the bottom of his bucket list. It’s not that he has less desire to visit these places than others on his bucket list, but until retirement, Ian Woodman says it will be hard to find the time to make such long treks.

From the States, Australia is a fourteen-hour trip, involving crossing the International Date Line. That means if Ian Woodman leaves on Friday night, he’ll arrive on Sunday morning. Not only will this mess with his internal clock, it will also require significant time off of work. Not so easy for a man like Ian Woodman who is running his own successful business.

The trip to Asia can be even more grueling, explains Ian Woodman, taking as long as twenty hours. Africa requires a ten-hour flight, which is only slightly longer than the flight to England, notes Ian Woodman. While Australia, Asia, and Africa may not be at the top of Ian Woodman’s list, he hopes to find time once he retires to take the long trips.

An avid traveler like Ian Woodman will find an endless supply of things to do in Australia, where the beauty of the outback and history of the forests will keep him busy. In 4-wheel drive vehicles, Ian Woodman and his wife can take a guided tour around the outback, via the Savannah Way or the Explorers Highway. To indulge Ian Woodman’s love for water, Australia has surfing and diving, allowing his party to experience the beautiful waters of Australia.

Whether it’s viewing the Grand Palace in Bangkok or enjoying the beaches of Sentosa Island in Singapore, Asia has a little bit of everything for Ian Woodman and his wife. As it is the globe’s largest continent, travelers like Ian Woodman generally prefer to tour all of Asia in one long trip, similar to the tour of Europe that is also on Ian Woodman’s bucket list.

Africa’s safari experience will be ideal for Ian Woodman and his wife, who love to learn about new things. But Africa isn’t only for safaris. The beaches in North Africa appeal to travelers’ desire for relaxation and mountain lovers will enjoy Mount Kilimanjaro.

Like many of us, Ian Woodman has so many places he’d like to visit, but so little time. After retirement, Ian Woodman hopes to be able to cross these interesting places off of his bucket list, in addition to his many other travel experiences.