Tax Solutions You Can Trust
At Hazlewood & Associates, we produce "passion driven results"
Tax Solutions You Can Trust
At Hazlewood & Associates, we produce "passion driven results"
At Hazlewood & Associates, we produce "passion driven results"
At Hazlewood & Associates, we produce "passion driven results"
At Hazlewood & Associates, our mission is simple and that is to help hardworking individuals and business owners regain their financial freedom. A freedom that has been stripped of them by the IRS or other taxing authority. Owing back taxes or going through an audit can be a nightmare. Complicated tax codes, letters and forms make it almost impossible to gain any ground. We are a small firm with a passion to help others. Other firms and larger companies will tell you almost anything to "sell" their services to you. Advertisements that have words like guarantee and promises. We simply cannot guarantee an outcome. Honestly, no one can, and it be the truth. We guarantee one thing and that is that we will ethically, honestly and passionately help you resolve your tax issues. Let us help you stand up to them and ensure your rights are observed.
Tax resolution: Tax resolution is the process of helping individuals and businesses resolve their tax problems with the IRS or state tax authorities. This includes negotiating settlements, setting up payment plans, removing tax liens and levies, stopping wage garnishments, and addressing unfiled tax returns. The time frame to reach a settlement/ resolution vary case to case and depend on an many variables such as the need to file past years, total amount owed and the promptness of the client returning requested documents. We strive to resolve all matters as quickly and efficiently as possible. However, we cannot guarantee an exact time frame.
IRS Audit protection/defense: Each year, the Internal Revenue Service (IRS) audits about one million federal income tax returns. While the IRS conducts audits at random, it also conducts targeted audits that are triggered by what appear to be questionable filings. If you are being audited by the IRS, you need to defend yourself regardless of why you are being audited, as an unfavorable audit determination could lead to substantial liability. Set up a free consultation to discuss your current audit or prepare for one in the future. We do offer proactive audit protection. This means that we will look at your past tax returns and current finances to determine if you are at higher risk of being audited. While we certainly cannot 100% predict action from the IRS, we can help mitigate the risks
We currently do not offer general tax preparation on a regular basis. However, if you become a client and have unfiled years, we will prepare those years for you for a reasonable fee. We can also analyze past filings and determine if they have been prepared accurately to prevent issues from arising in the future.
Starting a business is exciting. Running one can be rewarding. Unfortunately, a large portion of our clients were or are small business owners that did not understand the financial aspect of their business and are now dealing with the consequences. Maybe you or someone you know has the passion and drive but not the "know how". Do not worry.
Hazlewood & Assoicates will provide you a comprehensive analysis of your business. We will not come in and tell you how to run your business. We will provide you with helpful information and then work with you to introduce changes that need to occur, polish what is working and work together to make your organization better than it already is. In our small business consulting package, you will receive the following on top of in-depth conversations about what it all means and how to put that data to work for you and your business.
Business Plan:
SWOT Analysis:
Process analysis:
Data analysis:
Overall, our small business consulting focuses on the following:
If you are planning to start a business or are operating one currently and just want to make sure you are taking full advantage of your resources, give Hazlewood & Associates a call today or shoot us an email and we will be happy to talk about what will be our privilege of meeting you and your business.
An Offer in Compromise (OIC) is one repayment plan that you can negotiate with the IRS to reduce your tax debt. With an OIC, you are proposing paying a lesser amount to the IRS, based on your ability to pay. This is a good strategy, but bear in mind, that it is not easy to obtain this particular outcome, and almost all aspects of your life will be under scrutiny. However, if you come out owing much less than before or not at all, it is well worth it.
There are different types of penalty abatement. Which type you may qualify for depends on several factors.
· IRS First-Time Penalty Abatement
If you have a clean record with the IRS over the past few years, you might be able to make a tax penalty disappear through the IRS’s First-Time Abatement program. This type of relief can be applied regardless of the amount of your penalty. A first-time abatement waiver is only available for the failure-to-file, failure-to-pay, and failure-to-deposit penalties.
· Reasonable cause penalty relief
The IRS can also waive certain penalties if you acted with reasonable cause and in good faith. Whether you acted with reasonable cause is determined on a case-by-case basis and depends on all the facts and circumstances surrounding the case. The reasons that qualify for relief also depend on the type of penalty you owe. However, you can’t eliminate all penalties based on the reasonable cause. For example, the reasonable cause provisions don’t apply to estimated tax penalties.
· Statutory Cause penalty relief
Failure-to-file and failure-to-pay penalties
If you’re hit with an IRS penalty for filing your tax return late or not paying the tax you owe in a timely fashion, the IRS can waive the penalty if you have a good reason for not fulfilling your tax obligations such as illness, tax preparer delays etc.
Statutory exception penalty relief
In some cases, the U.S. tax code might provide a provision that triggers penalty relief. For example, tax law states that a penalty for the underpayment of estimated taxes is waived for certain newly retired or disabled people.
Tax administration penalty relief
The IRS can establish widespread penalty relief policies that impact many people under specific conditions. For instance, this type of administrative penalty waiver might be announced if there’s an IRS delay in releasing tax forms or guidance. An administrative waiver can be revealed in either a policy statement, news release, notice, or other formal communication stating the IRS penalty relief policy.
Interest relief
You should also realize that the IRS charges substantial interest on unpaid taxes. That interest keeps growing until your balance is paid in full. Interest on unpaid taxes generally can’t be waived, but it can be reduced if it’s applied because of an unreasonable error or delay by an IRS officer or employee. When it comes to interest on a penalty, the IRS will reduce or eliminate the interest if the penalty itself is waived.
If you owe taxes to the IRS, but can’t afford to pay, or can't pay without significant hardship, you may qualify for “currently not collectible” (CNC) status. Getting into CNC doesn’t make your debt go away, but the IRS will stop trying to collect the money (except from refunds) for as long as you are unable to pay. You will have to continue to prove this, and we will educate you as to how for the future.
A Partial Payment Installment Agreement (PPIA) is a monthly payment plan option for taxpayers who have a tax balance but are unable to satisfy the balance within the remaining time the IRS has to collect, called the Collection Statute Expiration Date (CSED). The CSED is typically 10 years from the date of the tax assessment; however, it can be extended for various reasons. A PPIA allows you to pay a monthly amount that you can afford until the CSED expires, at which time, any remaining balance owed will cease to be collected. A PPIA can prevent the IRS from taking further collection action, such as levies and seizures.
This installment agreement lasts for 72 months (or before the collection statute expiration date, whichever is earlier) The Assessed tax balance must be $50,000 or less. The IRS will require auto payments if the balance is between $25,001 and $50,000. This is a desirable option for a lot of our clients.
Innocent spouse relief can relieve you from paying additional taxes if your spouse understated taxes due on your joint tax return and you didn't know about the errors. Innocent spouse relief is only for taxes due on your spouse's income from employment or self-employment.
Injured spouse relief lets you reclaim money taken from your tax refund to cover your spouse's debts. Innocent spouse relief relieves you from paying additional federal income tax owed by your spouse due to errors on a joint tax return.
We offer a FREE, comprehensive consultation via telephone or video. We will also travel to where you are and meet in person. That is right!!! We will come to you.
During the consultation, we will gather information such as the current amount owed to the IRS and/or state, your income and expenses (estimated)and demographic information. We will also answer any questions that you may have and address any concerns. We want you to feel comfortable with us.
Once everything has been explained to you in depth and you agree, you would then retain our services if you desire. You will pay us an initial "investigation/discovery fee" This phase of our service is where we pull tax transcripts, look into unfiled years, collect notices you have received and three (3) months of accounts payable and receivable. Essentially, we need everything to create a financial portfolio that we will base your resolution on.
The initial retainer fee is a percentage of the current debt. We feel that our fees are very reasonable and below the industry standards. You will be made aware of this fee the day of the consultation and there will be no surprises. We believe in and practice transparency.
Once our specialists have had an opportunity to create your financial portfolio and have digested the material, they will inform you of potential opportunities to resolve the debt. You will be informed which solution will likely work best for you, the pros and cons of each and which will likely be accepted by the IRS or state. We will make the recommendation. However, the route we ultimately take is up to you as the client. Hazlewood & Associates makes NO guarantee of the outcome.
At this point, we will go over our representation/resolution fees. This is based on factors such as amount owed, the type of resolution we are attempting to achieve and if we need to file missing tax years. The IRS and state will not work towards a solution until all years are filed and you are fully compliant. You will know all fees up front. There will never be a change or surprise charge.
Everything will be approved by you first and stated in the client agreement. Unlike other firms and companies, we do not charge a "monthly fee" The only time you will pay monthly is if we set up a payment plan.
The payment plan options are three (3), six (6), eight (8) or twelve (12) months. The amount of time allowed to pay depends on the approximate time it will take to resolve the case. This translates into the more that is owed, the longer you will have to pay.
During this time, your resolution specialists will be working diligently to resolve your issues as quickly and efficiently as possible. One huge difference in our firm and others is that we keep you involved. Every letter, offer or fax, you will review and sign before it is sent to the taxing authority. Any video or phone conference, you will be present for and advise the IRS or state representative that we will be speaking for you.
You will be there every step of the way. We take great pride in this as it promotes transparency and good business and helps you learn how to address the issue should it ever arise again. We would rather you be prepared to represent yourself than have to spend more money in the future.
Hazlewood & Associates cannot provide an exact time frame to resolution or the outcome in general. We cannot stress this enough.... If a firm or company guarantees any particular outcome, they are not being honest with you. Alot of representatives depend on commission and have a higher personal agenda to "sell'' to a potential client.
Once we have exhaustively worked the case, we will then present you with what we believe is the most desirable and feasible option for you and/or your business. We will have a couple of options, and we will explain the pros and cons of each and why we recommend a certain one.
You maintain the right to ask questions and disagree with what solution we propose. However, we assure you that the solution we recommend is based upon what is most likely to be accepted by the IRS or state and serves in your best interest. We will openly discuss this with you and work with you to determine the definitive solution.
Once you have agreed to and approved the offer we have presented, we will then prepare the appropriate paperwork and get that submitted to the IRS or taxing authority. We will do our best to get the offer prepared and mailed to you within seven (7) business days to sign and return. Again, nothing will be presented or mailed without your signature and approval.
The IRS typically takes between 4 to 12 months to process an Offer in Compromise (OIC). The OIC takes the longest to get a decision on, though complex cases can take longer. With other resolutions (Abatement, CNC etc.), the timeline depends on factors like the completeness of your application, your financial situation, and the IRS's current workload. The average time to resolution rangers between three (3) and nine (9) months.
This is not a fast-moving process. It is, indeed, a marathon and not a sprint. Hang in there and everything will come to pass.
The only time you will pay by the month is if you set up a payment plan on a pre-determined amount. A payment plan is when we allow you, three (3), six (6), eight (8) or twelve (12) months to pay your total fee in full. You do have to meet certain criteria to extend past six (6) months. This is based on the amount owed and complexity of the case. Our owners, managing partners and resolution specialists believe in fair, transparent fees. The last thing that we want to do is add to your financial burden.
Telephone: 276-231-9266 Email: info@hazlewoodtaxsolutions.com Mailing: P.O. Box 5 Woolwine, VA 24185
Open today | 09:00 am – 05:00 pm |
Closed on all federal holidays
We use cookies to analyze website traffic and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data.