Tax Analysis Services in Las Vegas Nevada

Taxes can be confusing. And for people with IRS problems, they can be VERY confusing. Unfiled federal taxes, unfiled state taxes, payroll tax debt, income tax debt, terminated payment plans, tax liens, tax levies, wage garnishments, asset seizures, wrongly assessed tax debt are all tax problems. And they rarely come singly. So, what do you do?

The Torchlight Tax Analysis

First, we do a free consultation. In many cases, it is impossible to instantly sort out a tax matter. You may be confused as to what happened on your taxes. Your former tax preparer may be confused. The person you called at the IRS may be confused. You do not have all your IRS records.

So how are we going to tell you your best resolution option, when you may not even know what is going on? I had one of my new clients who previously talked to an online tax resolution firm, who was told “We will settle your IRS debt for probably $400” before they had done any investigation. And tried to get him to pay $4,000 for an Offer In Compromise (OIC). This is ludicrous.

Here is how we do it at Torchlight Tax:

  • We sit down with you and do a free consultation.
  • If you have a major tax situation that is going to require significant work to see where you stand, we recommend you do a Tax Analysis. The product of the analysis is we tell you what your best IRS debt resolution option is.

Steps of a Tax Analysis

  • We make a contract with you as to what we will do. This is our Engagement Letter.
  • We have you sign an IRS Form 2848 IRS Power of Attorney and pay a reasonable fee.
  • Then we pull all your IRS Records. We find out what the IRS has on you.
  • If you have some IRS threat on your immediate horizon, we ask the IRS to give us time to resolve it. Usually, they agree. If not, we get back to you and work out an immediate course of action to protect your interests.
  • If you have unfiled tax returns, we file them for you. We can use IRS transcripts gotten previously to assist in the filing. This is billed separately.
  • Once all required unfiled tax returns are done, we have you fill out a financial questionnaire. This comes to us, not the IRS.
  • Our advanced software marries up your transcript data with your financial data. We review it and may ask you additional questions.
  • Based on the software and our expert analysis, we advise you on your best IRS Settlement Option. This completes your Tax Analysis.

This allows us to accurately advise you on what to do. We do NOT try to sell you a major service, like an Offer in Compromise, without a reasonable estimation of our chances of winning.

There is a lot of work to really sort out your IRS Case and work out your best resolution option. By the time we have completed the tax analysis, we will both know each other.

You will know that we are real professionals who pay attention to detail and have your best interests at heart. We will know that you are serious about handling your IRS situation and have been able to give us the data needed to analyze your case.

We now have a game plan and can work together to resolve your IRS situation.

Call us at 1-877-758-7797 or 702-463-1818 or email us at info@TorchlightTax.com. We can transfer your call to a branch office near you or help you directly from our central office. Free consultations are available.

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    Why Torchlight Tax

    Many people do not know how a professional tax and accounting firm differs from a bookkeeper or tax preparer. The main difference when working with a professional tax and accounting firm, such as Torchlight Tax, is that our firm utilizes the services of CPAs, EAs, and Attorneys who are distinguished from bookkeepers and other tax preparers by stringent qualification and licensing requirements. Our entire team has a purpose to legally save your tax dollars and to make taxes as painless as possible. This means we take your calls and respond to your concerns. If you receive a threatening IRS call or Notice or are worried about some tax question, we are here for year round taking your calls and responding to your emails.

    Upgrade to a full-service Tax Firm

    Whether you are filing personal, small business, or corporate taxes, or negotiating IRS tax debt, if you are not already using a professional Tax, Accounting and IRS Representation firm, you most likely have missed out on major tax benefits. This is because a professional tax and accounting firm utilizes licensed professionals such as Certified Public Accountants (CPAs), EAs and Attorneys, who can not only advise individuals on personal financial matters but who can also advise businesses and corporations of all sizes and types. Tax laws are complicated, and no one knows everything. Torchlight Tax is a team and any one of our tax pros can call on other EAs, CPAs and Tax Attorneys in the team who may have specialist knowledge in a specific area of tax.

    Amendments

    When doing current taxes, we often come across missed tax savings from prior years. When this happens, the Internal Revenue Service allows you to amend your taxes and lower your tax liability. Whether you or your prior tax preparer missed a W-2 or 1099, a revised 1099. large charitable donations, or made some other error, amending your tax return can help you recover the money you are rightfully owed. When we find this situation, we will advise you on potential savings and amend the previously filed tax return.</p”>

    Sometimes, there may be a situation where a tax return could be amended, but it is too late to receive any benefit. Or maybe you made an error that was missed by the IRS that would have increased your tax liability. In some cases, it is prudent to file an amended return. But if it is not necessary and will not save you any money or decrease your risk, we will tell you not to bother. It is silly to amend a return to no advantage which is too old for the IRS to audit. Some firms might file a bunch of unnecessary tax returns and charge a fee. Sometimes a taxpayer himself might increase his tax liability by filing an unnecessary amendment that increases his tax liability. We will not do this.

    Amending a tax return requires more professional acumen then doing it right in the first place. At Torchlight Tax, we do file the tax return correctly the first time. And we will happily amend your tax return, but only if it actually is to your benefit. If you think you might need to amend tax returns, contact Torchlight Tax for a free consultation.

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