Advisory, Compliance, Outsource CFO & Controller
Once the IRS catches up with you, you will face penalties and interest, and for non-filed taxes, the possibility of jail time! This will put you in a very difficult position, you will want professional guidance from an experienced CPA accounting firm like us.
Fortunately, there are ways to reduce the sting of back taxes. You can negotiate with Tax Authorities to lower the overall liability, reduce or eliminate penalties, and implement manageable payment plans. By working with a qualified CPA firm, you will have the advantage of experienced negotiators on your side. In many cases, our clients never even speak with the IRS.
IRS Audit Representation
So, although you may want to respond to a letter or notice from the IRS, it’s not always a good idea, without a professional CPA advising you in the matter. While taxpayers can and do successfully defend themselves in an audit, without an experienced tax professional in their corner, their odds of completing the audit unscathed go down dramatically.
Back Taxes Owed
Fortunately, we have several ways to help our clients out of this IRS mess. Once we know your situation, we can recommend and follow through on one of several solutions. In most cases, we can significantly lower your liability for penalties – and in some cases, correct tax errors that have led to unfair debt.
Offer in Compromise
Whether eligible or ineligible for the Offer in Compromise program, we can arrange a payment plan for you with the IRS and the state taxing authorities. This generally requires a set monthly payment over a certain time period – normally two to seven years. While not as forgiving as an Offer in Compromise, there are still many ways we can reduce your tax liability with this program.
Non-Filed Tax Returns
We’ve seen this before, and it can end tragically – with taxpayers who can be incarcerated for up to a year for every year they didn’t file, and have property levied and wages garnished.
Having the IRS take money out of your bank account is no fun at all. An IRS levy should not be allowed to occur or continue if you take the right steps to avoid it. We’ve often steered clients out of these bad situations and lowered their tax liability along the way. By working with the IRS, we can often get levies released and once again put clients in good stead with the IRS.
When the IRS seizes someone’s home or car, they generally seize other assets, as well, such as boats and motorcycles. That’s because they immediately sell these assets for much less than their market value, in order to collect that person’s tax liability. IRS seizures usually happen only after repeated attempts to collect the tax, penalties, and interest that they have assessed and believed are owed by that person.
Innocent Spouse Relief
Once in a while, a client is the victim of tax or other types of fraud, committed by his or her spouse or ex-spouse. In those cases, the IRS has a provision to keep the victim from being prosecuted or penalized. If this has happened to you, we can help make sure you are protected by this law.
What Our Clients Say About Us
"This firm is terrific, I have worked with Jennifer Eubanks several times, and her firm provides first-class accounting support at very reasonable rates."
The CPA Department provides meaningful and actionable expertise related to preparing for DCAA audits, prepares winning pricing proposals, and provides overall strategies for small government contracting businesses to succeed.
"Jennifer is a trusted accountant and adviser. Her work ethics is second only to her expertise. Jennifer’s sense of resolve is perhaps the most telling… meticulous, persistent, and assertive comes quickly to mind. CPA Department has my highest recommendation."
"Very knowledgeable and helpful team. Work was done expediently. I will continue to use them and highly recommend them."
"Two years ago, my CPA retired and suggested I go to Jennifer Eubanks. I have been delighted with her work! I highly recommend Eubanks & Company."
"My firm started using EuCo from day one. I can attest that they have reduced the risk of many pitfalls we faced during our first few years. They continuously provide executable solutions to ensure our books and processes are inline and compliant. All this expertise at reasonable costs and great customer service."
"Eubanks & Company helped me out of a very sticky tax problem created by the neglect of a former accounting firm. I have nothing but the highest praise for this firm and the people working there. My ongoing experience is just as positive."
"Great, personal service - a trusted partner"
"We could not be more pleased with the service we have received from Eubanks & Co. It is our one-stop shop for all of our financial business needs. Jennifer leads her team to provide ethical and timely financial and regulatory compliance guidance for our government focused practice and we have recommended her firm widely. Thank you for all that you do! Your dedication to helping us remain compliant, set and meet our goals, and scale for growth is directly correlated with our continued success."
"Jennifer is a trusted accountant and adviser. Her work ethics is second only to her expertise. Jennifer’s sense of resolve is perhaps the most telling… meticulous, persistent, and assertive comes quickly to mind. Eubanks & Company has my highest recommendation."
"Have really enjoyed working with The CPA Department for the past several years. They have a great team that delivers professional and efficient service. Whether it be government contracting, day to day accounting needs, tax prep, or tax planning, they can handle your every need. We have already started leveraging their tax expertise with the new tax law changes. I highly recommend this CPA firm."
"We're extremely happy with the DCAA oriented consulting we're received, as well as the excellent service on general accounts issues. Our FAR and DCAA issues were more than we wanted to tackle alone and a significant part of our business. Jennifer and her team helped us through these hurdles and we couldn't be more pleased."
"Would highly recommend The CPA Department for business consulting, accounting and tax preparation needs. Jennifer and staff are very knowledgeable and go out of their way to help clients with their needs. You won't be disappointed."