IRS Tax Debt Settlement Services in Jersey City, Newark, and Throughout New Jersey

Dealing with the IRS can be a deeply stressful experience. Many taxpayers find themselves overwhelmed by tax debt, facing mounting tax liabilities, and struggling to keep up with IRS demands. If you're facing any of these challenges, you're not alone. Gary Mehta, CPA, EA, and his team of experienced tax professionals are here to provide you with expert tax debt relief services in Jersey City, Newark, and throughout the entire state of New Jersey.

• Unfiled Tax Returns: Failing to file tax returns, even if you owe no tax, can lead to significant penalties and interest.
• Underreporting Income: Inaccurately reporting income, whether intentional or unintentional, can result in substantial tax liabilities.
• Life Changes: Unexpected events like job loss, medical emergencies, or divorce can significantly impact your ability to pay your taxes.
• Business Challenges: Businesses pay a variety of taxes, and unexpected financial setbacks can make it difficult to meet their tax obligations.
• Outstanding Tax Debt: An IRS Offer in Compromise can help settle your outstanding tax debt for less than the full amount owed, providing relief for those who qualify.

Tax debt relief services are specialized programs designed to assist individuals and businesses in managing and resolving their outstanding tax debts. These services aim to alleviate the financial stress and burden associated with unpaid taxes, penalties, and interest. By leveraging the expertise of experienced tax professionals, including tax attorneys, enrolled agents, and certified public accountants, taxpayers can develop a personalized plan to address their unique tax problems.

These services encompass a wide range of solutions, from negotiating payment plans and settlements with the IRS to providing guidance on tax planning, preparation, and compliance. By working closely with tax professionals, taxpayers can navigate the complex landscape of tax laws and regulations, communicate effectively with tax authorities, and find the most suitable resolution for their tax debts. Ultimately, tax debt relief services help taxpayers regain control of their financial situation and prevent future tax issues.

• Wage Garnishments: The IRS can garnish your wages, leaving you with insufficient funds to cover basic living expenses.
• Bank Levies: The IRS can seize funds directly from your bank accounts, causing severe financial disruption.
• Tax Liens: A tax lien is a legal claim against your property, making it difficult to sell or refinance.
• Credit Damage: Unpaid tax debts can severely damage your credit score, making it harder to obtain loans, rent an apartment, or even get a job.
• Peace of Mind: The constant stress and anxiety associated with dealing with the IRS can significantly impact your mental and emotional well-being.

• Experienced Tax Professionals: With years of experience in tax law and IRS procedures, including the expertise of a tax attorney, we possess the knowledge and expertise to navigate even the most complex tax situations.
• Personalized Approach: We understand that every taxpayer’s situation is unique. We take the time to understand your specific needs and develop a customized plan tailored to your individual circumstances.
• Client-Centered Focus: Our priority is to provide you with the support and guidance you need to resolve your tax issues and regain financial freedom.
• Commitment to Results: We are dedicated to achieving the best possible outcome for your tax situation, minimizing your tax burden and helping you move forward with your life.

• Offer in Compromise (OIC) Negotiations: We specialize in negotiating Offers in Compromise with the IRS, which allows you to settle your tax debt for less than the full amount owed. Our comprehensive tax relief services are designed to assist individuals and businesses in managing and resolving their tax debts.
• Real-Life Example: A client of ours, a self-employed contractor, was facing a substantial tax debt due to a downturn in business. We successfully negotiated an OIC, significantly reducing their tax liability and allowing them to avoid bankruptcy.
• Installment Agreements: We help you establish manageable payment plans with the IRS to gradually reduce your tax debt. These tax relief solutions aim to alleviate financial stress and provide a path to financial stability.
• Real-Life Example: A couple facing financial hardship due to a medical emergency was struggling to keep up with their tax payments. We helped them negotiate an installment agreement with affordable monthly payments, providing them with much-needed financial stability.
• Penalty Abatement: We explore all available options to reduce or eliminate penalties and interest charges, minimizing your overall tax burden.
• Tax Return Preparation & Filing: We ensure accurate and timely filing of all your tax returns, minimizing your risk of penalties and audits.
• Tax Audit Representation: We provide skilled representation during IRS audits, protecting your interests and minimizing your tax liability.
• Tax Lien & Levy Removal: We work diligently to remove tax liens and levies from your property, restoring your financial freedom.
• Wage Garnishment Relief: We work to stop wage garnishments and negotiate more manageable payment plans to protect your income.
• Currently Not Collectible (CNC) Status: We help you determine your eligibility for CNC status, which can temporarily halt collection efforts while you address your financial situation.
• Innocent Spouse Relief: We guide you through the process of seeking innocent spouse relief to protect yourself from your spouse’s tax liabilities.
• Real-Life Example: A client of ours was facing significant tax liability due to her ex-husband’s fraudulent business activities. We successfully helped her qualify for innocent spouse relief, relieving her of the responsibility for his tax debts.

There are several types of tax debt relief options available to individuals and businesses, each designed to address different financial situations and needs. Some of the most common options include:

• Installment Agreements: This option allows taxpayers to pay their tax debt in manageable monthly installments, making it easier to stay on top of their financial obligations without overwhelming their budget.
• Offer in Compromise: This settlement agreement enables taxpayers to pay a lump sum that is less than the total amount owed, providing a viable solution for those who cannot afford to pay their full tax liability.
• Currently Not Collectible (CNC): This status temporarily suspends collection activities due to financial hardship, giving taxpayers the breathing room they need to address their financial situation without the immediate pressure of IRS collections.
• Penalty Abatement: This option involves the reduction or elimination of penalties associated with unpaid taxes, helping to minimize the overall tax burden and make it more manageable.
• Tax Amnesty Programs: These special programs allow taxpayers to pay a reduced amount of taxes owed without incurring penalties or interest, offering a fresh start for those who have fallen behind on their tax obligations.

Each tax debt relief option has its own eligibility requirements and benefits. Consulting with a tax professional can help determine the best option for a taxpayer’s specific situation, ensuring the most effective resolution of their tax debts.

The IRS Fresh Start program is a tax debt relief initiative designed to help taxpayers who are struggling to pay their tax debts. This program offers more flexible terms and conditions, making it easier for taxpayers to manage their outstanding tax liabilities. Key features of the IRS Fresh Start program include:

• Increased Installment Agreement Limits: Taxpayers can now qualify for installment agreements with payments up to $50,000, providing greater flexibility in managing their tax debt.
• Streamlined Offer in Compromise: The program simplifies the process for submitting an offer in compromise, making it more accessible for taxpayers to settle their tax debts for less than the full amount owed.
• Reduced Documentation Requirements: Taxpayers may not need to provide as much financial documentation to qualify for tax debt relief, streamlining the application process and reducing the administrative burden.

The IRS Fresh Start program is designed to help taxpayers get back on track with their tax payments and avoid further penalties and interest. By working with a tax professional, taxpayers can determine their eligibility for the program and receive guidance throughout the application process, ensuring the best possible outcome for their tax situation.

 1) Gather information about your specific tax situation. 

 2) Discuss your financial circumstances and goals. 

 3) Analyze your options and recommend the most appropriate tax relief services.

The program simplifies the process for submitting an offer in compromise, making it more accessible for taxpayers to settle their tax debts for less than the full amount owed.

Based on our analysis, we will develop a customized plan to address your tax issues.

We will negotiate directly with the IRS on your behalf, advocating for your best interests and ensuring that your rights are protected.

We will closely monitor the progress of your case and keep you informed throughout the entire process.

•  Increased Chances of Success: Engaging with experienced tax resolution professionals like Gary Mehta, CPA, EA, significantly increases your chances of successfully resolving your tax issues and achieving a favorable outcome through effective tax relief.

• Reduced Stress: Dealing with the IRS can be incredibly stressful. Our team will handle all communication with the IRS, allowing you to focus on other important aspects of your life.

• Protection of Your Rights: We will ensure that your rights are protected throughout the entire process and that you are treated fairly by the IRS.

• Peace of Mind: Knowing that you have experienced professionals on your side can provide you with much-needed peace of mind and reduce your anxiety about your tax situation.

Finding us on the internet, clients from all over ask us to represent them. Often clients from Newark and Short Hills come to meet us in our Jersey City Office. However, we also provide consultations in our  Newark office. Call us to book an appointment for an in-person consultation at Short Hills or any other office. 

Don't let tax debt continue to burden you. Contact Gary Mehta, CPA, EA, today for a consultation. We can help you understand your options, develop a plan to resolve your tax issues, and regain control of your financial future.

Jersey City Office:

• 101 Hudson Street St 2100, Jersey City, NJ 07302
• Phone: (732) 829-6395

Newark Office:

• 1 Gateway Center #2600, Newark, NJ 07102
• Phone: (732) 829-6395