At the Law Offices of John A. Sterbick, we occasionally meet clients whose financial circumstances have deteriorated past the point of inability to stay current on their bill payments. Sometimes, clients have assumed long term debt for assets that have depreciated below the remaining balance of the loan that the client owes the lender.
Similarly, clients may incur years of federal tax debt that the IRS will demand to be paid once the IRS becomes aware that that client has delinquent tax debt. The combination of personal and IRS debt owed is often overwhelming.
The Sterbick firm is proud to specialize in complex, difficult financial circumstances that involve IRS tax debt and assets that are “upside down”.
Upside Down and Cramdown Defined
An asset is considered upside down when the asset’s current market value is lower than the remaining loan amount owed on the asset.
Generally, a cramdown provision is applied to certain secured debts, such as a car loan. The cramdown describes changes to the loan terms for the secured item that makes the loan more favorable to the debtor. An example of a loan cramdown is a reduction of the loan’s secured portion to match the current market value of the asset. The remaining loan balance will be added to the debtor’s other unsecured debt, like credit cards.
How the Sterbick Firm Helped a Client Under These Circumstances
Our client is a working single mom. Her car loan had years remaining before it would be repaid and had a high interest rate and a larger balance owed than the car was worth. She also owed the IRS years of unpaid federal tax debt.
The Sterbick team made two recommendations to address these issues. First, we advised our client that we would include a request to cramdown the auto loan to reduce the interest rate and align the balance owed with the value of the car. Next, we included her delinquent IRS tax debt into the plan so that she could repay the IRS at a zero-interest rate and discharge the previous years of federal tax debt.
Our client accepted the Sterbick team’s proposal, and we successfully implemented the plan through her bankruptcy proceeding. The Sterbick team enjoyed working with our client throughout the case. She has been very appreciative of our work on her behalf.
Here is the review that our client left on the Sterbick firm’s Google listing about our team’s work for her:
“John and his team helped me in a major financial way. They set me up with a plan that was right for me. So far, its working out great! Anytime I have questions, I can email it and response time is always same day.”
“I really appreciate Lorelei and the team.”
If All This Seems Confusing or Too Complicated,
Please Call Us for Help
IRS tax problems or long neglected debts can be complex and overwhelming. The team at the Law Offices of John A. Sterbick may be able to help you understand your situation. We can certainly help you by discussing certain trade-offs and options concerning your situation with your debts, the IRS, and bankruptcy.
The Sterbick team does our best to give each client the best, unbiased advice that we can provide in every case. We do not automatically recommend bankruptcy; we tailor our advice to each person’s circumstances. We would never advise a client to take actions that would worsen their circumstances and increase their debts. Our goal is always to design a plan and carefully explain the plan to our client in order to help our clients work towards rebuilding a sound financial future.
Financial stress is not a healthy state, and it does not cost you anything to check out your options. Please contact my office to make an appointment for a free, confidential, personal consultation to review your circumstances together.
The federal income tax deadline was postponed this year from April 15th to July 15th to provide relief for individuals and businesses affected by the COVID-19 pandemic. However, the Internal Revenue Service determined that no further delay is necessary, and Tax Day for Tax Year 2019 is …tomorrow, July 15th.
Don’t panic. It is still possible to request an extension if you’re not quite ready to file. However, the deadline for filing taxes after requesting an extension is still October 15th, as in previous years.
Here are a few added points for last-minute tax filers.
Taxpayers have up to three years to file a 1040 tax return in order to receive a refund. If you are a taxpayer who expects to receive a refund for tax year 2016, you must file your 2016 form 1040 by tomorrow, July 15th. Otherwise, it will be too late.
There is an exception for taxpayers who expect to receive a refund for tax year 2016: if the taxpayer filed an extension to file their form 1040 for the tax year 2016. In that case, the taxpayer must file their tax year 2016 form 1040 return by October 15th to receive their refund.
Don’t Panic. Put Our Decades of Experience And Know-How to Work for You.
If you have IRS tax problems and need expert help, please call the Law Offices of John A. Sterbick at (253) 383-0140 or click to contact us.
The usual payroll tax debt relief story begins like this: a small business owner misses a single payroll tax deposit, then another and another, until he reaches a point where he gets so anxious about how much he owes that he stops filing payroll tax returns. It isn’t because he wanted to: it’s because he didn’t know what else to do.
Many small businesses get into cash flow problems for all kinds of reasons. The problem that causes your cash flow shortfall can be something completely outside your control. For instance, James, a drywall sub-contractor, was given notice that the general contractor filed bankruptcy. It’s how you handle the problems – especially when payroll taxes are involved – that usually determines whether you’ll be able to remain in business.
Another example is William, a plumbing sub-contractor, who frequently hears the “retention” excuse from his general contractor. Consequently, he must wait several months to get paid. In the meantime, he must pay wages, materials etc. for his next project out of his own pocket. IRS Form 941 obligations – those listed on the employer’s quarterly federal tax return – don’t get paid. Failure to make FTD (Federal Tax Deposits) revenue means failure to pay penalties and interest will accrue. Some employers get scared and compound the problem by making an even worse mistake: they fail to file the 941 return and incur failure to file penalties which are really stiff!
If you own a small business and have IRS payroll tax problems, you’re in danger of losing your business every day. To be sure, the IRS takes an iron-fisted position on payroll tax violations. They would rather close a business and sell off its assets rather than work out a deal with the business owner. In my professional opinion, this is probably because higher management gives every IRS agent too many cases to work on at once, so the agents are forced to close many small businesses simply to keep up with the agents’ caseload.
Nancy ran a successful Servpro business for several years when she fell victim to embezzlement. The employee paid himself instead of paying the FTDs. She sold assets, laid off employees, and borrowed money to pay a chunk of the IRS debt. An installment contract was set up but unfortunately, Nancy missed a payment. The IRS agent swiftly levied her accounts receivable. She lost two vendors which eventually forced her out of business. The agent simply assumed she would keep running up liabilities. The point is that she begged for another installment agreement. However, the IRS bureaucratic agent didn’t want to take the risk of granting an installment contract that will probably result in making him look bad in the eyes of management.
To add insult to injury, the IRS pursued Nancy personally and raided her personal accounts to pay off the payroll debt. Unfortunately, she didn’t set up her business under a corporation to protect herself from third party liability.
The worst thing about business payroll taxes is that the IRS can collect them from anyone they deem responsible for not having paid them. For example, the business owner or any check signer on the business bank account can be singled out for collection activity.
They will do everything they deem appropriate to recoup payroll taxes; usually a visit to your home or workplace kick-starts the collection process. Every weapon in their arsenal can be used (levies, liens, seizure) until the taxpayer agrees to some type of repayment.
The IRS is aggressive in collecting payroll debt because they consider the failure to make FTDs as “theft.” The payroll tax withheld by the employer on behalf of the employee belongs to the employee. Employers who fail to file IRS Form 941’s and to make FTDs are risking IRS criminal prosecution.
If you’re in a deep, dark place right now because you owe unpaid payroll taxes, email us or call the Law Offices of John A. Sterbick at (253) 383-0140 right now to find out about payroll tax debt relief. You’ll sleep better tonight knowing that you have a reputable, well-tested Tacoma-based IRS tax attorney in your corner figuring out your best next move.
If tax problems are weighing on you and threatening your financial security, you need tax resolution assistance from John Sterbick, an expert IRS tax attorney, right away. I’m here to provide you with a wide range of tax relief services, including help with individual IRS back taxes, business tax problems, and issues with delinquent taxpayers having passports denied or revoked. It’s my goal to bring you peace of mind by helping you reduce tax debts and secure protection from the IRS, so call me at (253) 383-0140 or e-mail me now to learn more about how I can help you!
John Sterbick provides an extensive list of tax resolution options, including these services:
- Filing back taxes
- Securing tax settlements
- Preparing for IRS audits
- Negotiating IRS penalty abatement
- Resolving business tax problems
- Representing you in tax court
- Protecting you from criminal tax prosecution
- Filing for expatriates
- Securing passport reinstatement
In addition to my tax resolution expertise, my firm also provides accounting and bookkeeping services. Whenever you need help keeping your personal or business finances on track, you can count on me for superior customer service and careful attention to detail. I have over twenty years of experience as an IRS tax attorney. I am very qualified, with a proven track record of success, to provide the professional guidance you need. You can be confident if you select the Law Offices of John A. Sterbick to advise and represent you that your tax and accounting issues will be resolved quickly.
Free Estimates for Tax Resolution Services
Professional tax settlement, penalty abatement, and other tax relief services are an investment in your future. When you’re facing tax problems, the last thing you want to think about is the bill for IRS tax attorney help. Fortunately, you won’t have to worry about this when you work with John Sterbick, an expert IRS tax attorney. I’m proud to offer free estimates for my tax debt relief services. To give my clients added peace of mind, I offer flat-rate pricing for tax resolution services.
If you’re based in Federal Way, Puyallup, Olympia, Lacey, Seattle, Auburn, Kent, Gig Harbor, Lakewood, or any of the surrounding towns, you can turn to me for tax debt relief. I am proud to serve both individuals and business owners, and I can handle tax problems of all varieties. Whether your financial situation is due to unpaid taxes or your business is being threatened by an IRS audit, one phone call is all it takes to get started on resolving your tax issues.
One thing that sets John Sterbick apart from other tax lawyers is my commitment to providing clients with tax relief when they need it most. If you’re facing a tax issue that needs to be addressed immediately, you can call my 24/7 hotline for immediate, compassionate service. I offer free consultations at (253) 383-0140, so there’s nothing to lose by reaching out to me whenever you have a tax problem. No matter how severe your tax issues might seem, you can trust that I will be able to find an effective tax resolution that works for you.
When you choose John Sterbick as your IRS tax attorney, you can rest assured that your tax problem will be handled by a seasoned professional. I have over 20 years of experience dealing with personal and business tax problems, and that means I have what it takes to help you solve practically any tax issue you might have. From preparing back taxes to assistance solving payroll tax problems, I can do it all.
If you’re looking for a tax attorney or other tax specialist to resolve your IRS tax problems, contact John Sterbick today. I’m ready to help you put all of your tax problems behind you!
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Posted by the Law Offices of John A Sterbick on Monday, December 7, 2015
Yes, there are several avenues a taxpayer can take to stop an IRS levy, including a wage garnishment. These options include:
- Requesting a collection due process hearing (or “CDP” hearing) or an equivalent hearing. In most circumstances, the IRS cannot collect outstanding tax liabilities while a CDP hearing is pending. These hearings must be requested in a timely manner after receipt of IRS communications regarding an anticipated levy. If you have missed deadlines to file a request for a CDP hearing, you may also request an equivalent hearing, and the IRS may choose to stop a levy but is not required to do so.
- Entering into an installment agreement to repay your delinquent tax liabilities. Taxpayers with relatively low liabilities (under $50,000) may qualify for a streamlined installment agreement under which they may repay their liabilities without filing the more detailed financial disclosures required to request a traditional installment agreement.
- Filing a request for innocent spouse relief addressing the periods with delinquent liabilities.
- Proposing an offer in compromise in which you and the IRS agree to settle a tax debt for less than what is owed.
- Demonstrating your inability to repay your delinquent tax debts so that you may be placed in currently not collectible status.
- Filing for bankruptcy protection, which will suspend collection activity from the IRS and other creditors.
What Is The IRS Procedure For Issuing A Tax Levy To Garnish My Wages Or Seize My Property?
Before issuing a levy, the IRS will send you notices regarding the amount of tax owed, requests for payment, and a warning of the intent to levy. It is important to keep your mailing address with the IRS current so that you receive these notices. You may also receive phone calls from IRS employees warning of possible levy action. Unlike traditional creditors, the IRS does not have to go to court before it begins levying your assets and income to collect from you.
Stop Worrying and Call for Your Free Consultation Today
Please contact the Law Offices of John Sterbick right away if you are considering seeking relief through any one of the options discussed above because each alternative has unique requirements that taxpayers must meet in order to qualify for relief. For example, to qualify for an installment agreement, innocent spouse relief, or an offer in compromise, you must prepare and submit any unfiled returns for all prior tax years. Your call to John Sterbick at (253) 383-0140 can save you untold amounts of time and worry over complex tax problems that the Law Offices of John Sterbick are well versed in and ready to handle for you today.
Is the IRS garnishing your wages? If your wages are being garnished because you’ve failed to pay back taxes, getting tax help right away is the best way to limit the damage to your financial situation. The longer your wages are garnished, the less you can provide for your family, and the more stress you experience. Fortunately, you can get the help you need from John Sterbick, an expert IRS tax attorney, to stop IRS wage garnishments. I’m the professional IRS back-tax attorney you can count on to step in and help stop the IRS from taking money directly from your paycheck!
When a portion of your paycheck is lost due to IRS wage garnishment, making ends meet can be tough. This can add a great deal of stress to your daily life, and there’s no reason to live with that when back tax debt relief is just a phone call away. I can negotiate with the IRS on your behalf to come up with an alternative tax resolution option, such as an installment agreement, that doesn’t involve your wages being garnished. Whether you live in Tacoma or anywhere in the State of Washington, I’m your best bet for an effective solution to wage garnishment.
I’m experienced when it comes tax problem resolution, so you can count on me to deliver effective tax relief services. Call John Sterbick for a free consultation at (253) 383-0140 today, and stop losing your hard-earned money to IRS wage garnishment!
Are you worried that you’re going to make a mistake on your tax returns? Are you scared you will be penalized for filing late international tax returns? Are you overwhelmed by unfiled returns from years past? If filing your taxes gives you anxiety, you don’t have to go through the process without the help of tax preparation professionals. You can always call John Sterbick, an expert IRS tax attorney,. I serve clients in Tacoma and anywhere in Washington state. I am ready to serve both individuals and business owners who are looking for IRS tax return preparation services. Whether you’ve already missed a filing deadline, or you’re trying to plan for the future, John Sterbick, an expert IRS tax attorney, can assist you. With help from an expert IRS tax preparer, I can take the stress out of the tax preparation process. Call John Sterbick, an expert IRS tax attorney, right away for a free consultation at (253) 383-0140!
Small Mistakes on Your Tax Returns can Land You in Serious Trouble With the IRS.
You could also decrease the amount of your refund, and that’s the last thing any taxpayer wants to happen. That’s why it’s best to work with income tax preparation professionals whenever tax season rolls around. I’ll make sure that everything is filed right to minimize any payment required or maximize your tax refund, all while ensuring you’re in complete IRS compliance. Failure to file your international tax return can result in stiff penalties and even the revocation of your passport, but I am here to make sure that all of your taxes are filed correctly.
John Sterbick can help you with:
- International filing
- Federal returns
- Business returns
- Amended returns
- Back tax returns
- And more!
If you aren’t certain what to do with your tax return, don’t take the chance of filing it incorrectly
Instead, let a tax return preparer from my team work with you to achieve an accurate return. My attention to detail and commitment to my clients’ satisfaction means that your taxes will be prepared with care. I have over 20 years of experience providing IRS tax preparation services under my belt, and that means I have what it takes to ensure that the preparation and filing process go smoothly. Even if you are suffering from years of overdue tax returns, John Sterbick can provide you with an effective resolution.
Worry-Free Tax Help
Errors on your tax returns and failure to file can both result in major consequences. Not paying your taxes can result in criminal prosecution. Having large outstanding back tax debts can result in the State Department revoking your passport. But you don’t have to live in fear of these outcomes. Call in John Sterbick for a free consultation at (253) 383-0140, and I can help eliminate these problems. From resolving back taxes to correct tax filing to securing your passport, I will put my expertise to work to provide you with the IRS tax help you need.
Free Consultation for Tax Preparation
Some taxpayers hesitate to get help with tax preparation due to the cost. Fortunately, you can avoid these financial worries and avoid stiff penalties by turning to John Sterbick for IRS tax preparation services. I am proud to offer free consultations for personal or business tax preparation services. When you come to me for assistance, you can speak to one of our firm’s expert tax preparers to determine what your costs will be up front, so there will never be any confusion about what my fees are.
If you’re interested in tax preparation service, get in touch with John Sterbick today. Mine is the name to know for effective tax return preparation in the Tacoma area!
Are back tax issues causing you to stress out over your financial situation? If you ignore your back taxes, the amount you owe will multiply — fast. Soon, you’ll be dealing with an unmanageable balance that could put you in a precarious financial situation. Fortunately, you can turn to John Sterbick, an expert IRS tax attorney, whenever you need IRS back taxes help. I am an IRS tax attorney who is well-versed in all applicable IRS tax laws and regulations, and I can’t wait to help you solve your tax issues. If you live in Tacoma or the state of Washington, call John Sterbick, an expert IRS tax attorney, for a free consultation at (253) 383-0140 for help with delinquent IRS taxes.
When you are suffering financially due to unpaid taxes, it’s hard to know what to do to remedy the situation
Before you make any decisions, contact John Sterbick, an expert IRS tax attorney,. I know how to handle IRS back taxes, and I can ensure that you make the best decision for your needs and financial situation. As a tax help expert, I can provide you with a wide range of tax relief services, including:
- Determining what you owe
- Filing back taxes
- Amending previous returns
- Negotiating IRS settlements
- Petitioning to remove tax penalties
- Discharging back taxes in bankruptcy
- Helping you avoid future back tax problems
No matter what kind of tax assistance you need, I am here to provide you with effective solutions. Whether your trouble with unpaid taxes is due to a mistake or missed filing due to circumstances beyond your control, you can trust me to help with your back taxes and get you on the road to financial recovery right away.
Top-Notch IRS Back Tax Help
John Sterbick, an expert IRS tax attorney, takes great pride in offering the best help with IRS back taxes in the Tacoma area. When you work with me to resolve your IRS back taxes, you can have peace of mind knowing that you’re working with fully qualified tax experts. I have over 20 years of experience helping individuals and business owners resolve their IRS back-tax problems. Whether you need to file a tax return late or you’re trying to negotiate a settlement with the IRS, you can count on John Sterbick, an expert IRS tax attorney, to provide you with tax debt relief that’s effective.
If you need back taxes help in the Tacoma area, pick up the phone and call John Sterbick, an expert IRS tax attorney, for a free consultation at (253) 383-0140. I am here to make sure that unpaid IRS back taxes don’t become a major financial burden in your life!
If you’ve just received a notice for an upcoming IRS audit, you may find yourself worrying about what could happen. An audit by the IRS is a serious matter, but it shouldn’t cause you to panic. Take the stress out of dealing with an audit by working with audit defense pros. John Sterbick, an expert IRS tax attorney, is proud to provide IRS audit help to individuals and business owners in the Tacoma area. If you are worried about preparing for an IRS tax audit, don’t be for another second. Instead, pick up the phone and call John Sterbick for a free consultation at (253) 383-0140 right away!
No two IRS tax situations are the same
When you contact the Law Office of John Sterbick for IRS tax audit help, I’ll look at the specifics of your situation and provide you with the IRS auditing assistance that makes the most sense for your particular circumstances. Depending on your situation, my IRS audit help services can include:
- Determining reasons for your IRS audit
- Gathering and filing audit paperwork
- Representing you during the audit
- Getting IRS audit penalties lifted from your account
- Negotiating tax settlements with the IRS
- Advising you on how to avoid future audits
If it turns out that you owe the IRS money after your audit, you can count on me to help you find the most appropriate resolution. Whether you want help in the initial phases of planning for an IRS tax audit or help dealing with IRS audit penalties after your audit didn’t go your way, John Sterbick and his team have the expertise you need. It’s my goal to make sure my clients have a stress-free experience when facing all kinds of IRS tax audits.
IRS Tax Audit Defense Experts
When facing an audit from the IRS, the last thing you want to worry about is working with inexperienced IRS auditing professionals. Fortunately, when you turn to John Sterbick for audit defense, that won’t be a concern. I have over 20 years of experience providing IRS audit defense services to individuals and business owners in the Tacoma area, and I can’t wait to put my expertise to work for you. Working with me means you’ll have the assistance of a fully qualified tax attorney with over two decades of experience in the business, so don’t hesitate to call on me whenever you have the need for IRS audit defense. I will work hard to ensure that things go as smoothly as possible during your audit.
If you need IRS audit representation, look to the team at the John Sterbick law firm for help. We offer free consultations and fair pricing, so there’s nothing to lose when you call John Sterbick for a free consultation at (253) 383-0140 now!
Managing a business can be tough work, and that job gets even harder when you have tax problems to deal with. If your company is in trouble because you’ve overlooked a deadline or made a filing error, you don’t have to deal with the IRS on your own. Instead, you can turn to John Sterbick for business tax problem resolution. I am proud to be Tacoma’s top source for corporate and small business tax help, and I’ll put my over 20 years’ experience to work to take care of you and your company. If your business is suffering from IRS tax problems, contact me today for assistance!
IRS tax problems don’t just go away on their own. The longer you put off dealing with them, the more you’re going to owe
To protect your company’s bottom line, call in John Sterbick for a free consultation at (253) 383-0140 to get tax problem help as soon as possible. When you bring your business tax issues to me, you’ll be working with a fully qualified tax attorney. With your company’s tax problems in my capable hands, you’ll be able to focus on other important business matters while I take care of straightening out your IRS issues.
Comprehensive Business Tax Help
John Sterbick takes great pride in offering my clients a variety of business tax help options. Turn to me for tax problem resolution including:
- Filing back taxes
- Negotiating tax settlements
- Getting tax penalties lifted
- Representing your business during IRS audits
- Representing your business in federal tax court
- Resolving payroll tax issues
- Providing corporate and small business tax advice
Business tax regulations are always changing, but you can trust that John Sterbick is up to date on important tax issues. That’s why I’m a member of the Tax Freedom Institute, so I know what’s necessary to resolve your tax problems with ease.
Payroll Tax Resolution
For many businesses, employment taxes can be difficult to get right. Sometimes, payroll taxes just slip through the cracks, and other times you’re dealing with a misclassification of employees or some other complicated situation. Unfortunately, payroll tax penalties can be pretty steep. That’s why it’s best to deal with payroll tax problems right away, and John Sterbick can help. I’m an expert when it comes to unraveling payroll tax issues, and I can help you deal with penalties and come to an agreement with the IRS regarding your unpaid payroll taxes.
If you need assistance with business tax problems, John Sterbick and his team are here to meet your needs. Get in touch with me today to learn more about tax problem solutions!