Tax Resolution Services: Wage Garnishments by IRS or State Taxes

Wage garnishment (or just garnishment) happens when an employer is required to withhold the earnings for the payment of IRS or state tax debt in accordance with a legal procedure. Once a wage garnishment is filed with an employer, the employer is required to collect a large percentage of each paycheck.

Learn more about Wage Garnishments or view our entire lineup of Tax Resolution Services. For more information about our tax resolution services, fill out a contact form or call 1-800-540-0433.

IRS Debt Relief: OMNI Financial Client Settles $1.5 Million in Debt

A recent client lost everything including his home, cars, and reputation when his Silicon Valley tech company collapsed. In addition, the client’s company accrued over $3 million in Internal Revenue Service and $365,000 in California Employment Development Department (EDD) liability. To top it off, the client was personally tax liability was over $1.5 million.

Though their IRS Tax Attorneys, OMNI was able to reach an Offer in Compromise of $46,000 with the EDD and is negotiating a $50,000 Offer with the IRS.

You can read the entire story: Client Settles $1.5 Million in Debt Through Offers in Compromise or take a look at the rest of our Tax Relief Success Stories.

For more information about our tax resolution services, fill out a contact form or call 1-800-540-0433.

Tax Resolution Services: Looking for Innocent Spouse Relief? Let OMNI Help

When a joint tax return is filed, each spouse is equally liable for all the tax, penalties, and interest for the particular joint tax year. This means the entire amount of tax, penalties, and interest may be collected from either spouse, even if only one spouse earned all of the income.

Don’t take responsibility for your current or ex spouse’s mistakes. OMNI’s Innocent spouse tax relief services can be just what you need to avoid paying someone else’s tax resolution problem.

Learn more about Innocent Spouse Relief or view our entire lineup of Tax Resolution Services. For more information about our tax resolution services, fill out a contact form or call 1-800-540-0433.

IRS Debt Relief: Tax Relief Frequently Asked Questions

One of the benefits of hiring OMNI Financial is that you will have someone that knows how to deal with the IRS and can devote the time necessary to reach a favorable resolution. However, it’s not always clear when you need an agency like OMNI on your side. So how do you decide? Read our Tax Relief FAQ.

Some questions in our IRS Debt Relief FAQ include:

• If I haven’t filed a tax return in years, is it better to start filing now or wait until the IRS asks for a return?
• What can I do if the IRS has filed a lien against me?
• What can I do if the IRS has garnished my paycheck?
• How can I avoid an audit?

Read the full FAQ here: Tax Relief FAQ or contact Omni Financial for a free tax debt consultation.

IRS Help: OMNI Financial Saves Client $60,000 in Tax Debts

When an industrial supply company came to Omni Financial their tax debt and penalties reached almost $60,000. Within months, Omni was not only able to have all interest and intentional disregard penalties abated but a refund check was issued to the client in the amount of $20,192 by the IRS. Within 47 days of working with Omni, the client had saved nearly $60,000.

You can read the entire story: Omni Works Quickly to Save Client Nearly $60,000 in Tax Liability or take a look at the rest of our Tax Relief Success Stories.

For more information about our Tax Relief services, fill out a contact form or call 1-800-540-0433.

Looking for Tax Resolution Services?

When looking for a representative to help you settle your tax debt, it is important to do your research. If you look closely at companies offering tax resolution services, you’ll find that some actually bring very little to the table.

So why should you choose Omni Financial?

• We’ve provided tax resolution services for over 25,000 clients in all 50 states
• We have experience dealing with both national and state tax agencies
• Our staff consists of CPAs, Enrolled Agents and attorneys that do nothing but help clients settle back taxes
• We are dedicated to finding the most effective, least painful road to recovery for our clients
• Our agents become your representatives in tax matters, freeing you from bothersome phone calls

Because our representatives have seen it all, they help you sort through your options as you try to settle your tax problems. Read more about the options you can pursue with the tax resolution services provided by Omni Financial.

Ready to resolve your tax problems? Contact Omni Financial today at (800) 540-0433 for your free tax resolution consultation.

What Are Back Taxes?

Many taxpayers owe the IRS back taxes and don’t even know it. If you’re worried about whether or not you owe back taxes, it’s important to first know what back taxes are. Basically, back taxes are taxes not completely paid when they are due, whether they’re taxes assessed by the federal, state or local government. There are basically three reasons you could owe back taxes:

By filing a tax return, but not completely paying taxes by April 15
This is the most common reason people accrue back taxes. For whatever reason, many people file their returns on time, but fail to completely pay their tax debt. “Failure to Pay” penalties are quickly assessed to this type of back tax.

By filing a tax return, but failing to report all of your income
Because the IRS receives their own copies of W2 forms, they know how much everybody makes in a year. If they notice a discrepancy in the W2 form they receive and an individual’s tax return, they’ll send out a Proposed Tax Change Notice. Soon thereafter, they will assess a new tax amount, plus fines.

By neglecting to file a tax return all together
The IRS receives copies of W-2s from employers, so they know who has not files tax returns. If an individual does not file a return, the IRS eventually files one for them and assesses back taxes.

Learn more about back taxes by reading our Guide to Back Taxes.

The fines from back taxes can accumulate quickly. Contact Omni Financial today for help with dealing with your back taxes.

Filing a Late Tax Return? Use Our Back Taxes Guide

Are you struggling with back taxes? While it may seem easiest to ignore them and hope that the IRS doesn’t take action, it is actually better to sit down and deal with your back taxes now. The IRS will eventually take action, and the consequences will be much worse than if you deal with the problem on your own.

Our guide to filing back taxes can show you where to start when you’re ready to start settling your back taxes.

The first step you need to take is gathering all your tax documents. By filling out Form 4506-T, you can request any of your missing federal tax documents from the IRS. You may also need to request additional documentation from your employers or banks.

The second step to settling your back taxes is preparing your return. Since refunds expire within three years, it is important to file any returns nearing that three-year limit. Once you finish your return, you may be surprised to find that you are actually going to receive money instead of owing anything.

Once you finish preparing your late return, you must file it. Remember that you may use old tax return software to prepare your return, but you may not file it electronically. It is a good idea to mail your late tax return through certified mail so you have proof of filing.

Omni Financial has a long track record of helping individuals settle their back taxes through filing late tax returns. Contact us today to learn how we can help you file your late tax return.

Thanks to our 7th Annual Charity Golf Tournament Sponsors

Thanks to our sponsors, the Omni Financial 7th annual charity golf tournament held on Aug. 7, 2009 at the Eagle Trace Golf Club in Broomfield Colorado was a huge success.

For the fourth year in a row, we teamed with NBA star Marcus Camby and donated the proceeds of the event to his charity, Cambyland. Cambyland encourages students to succeed in school through mentoring and tutoring programs, extracurricular activities and scholarships for post-secondary education. Throughout the four years that our charity golf tournament has partnered with Cambyland, we’ve raised well over $100,000.

Thank you to all of our sponsors who made this event possible.

You can learn more about upcoming Omni Financial Charity Committee events by visiting our website. You can also sponsor one of our events or donate to one of our charities by calling us at (800) 540-0433.

Have State Tax Problems? Contact OMNI Financial

Many people who have state tax problems find that state collection authorities can be even more difficult to deal with than the IRS. State collectors are often ruthless when they collect money, quickly issuing penalties, liens and levies.

Fortunately, state collectors are still required under tax laws to offer tax relief to those who qualify. Omni Financial has experience dealing with tax authorities in all 50 states, and know what programs are offered in which state. If you have state tax problems, contact Omni Financial, and we can help you decide if an Offer in Compromise, payment plan or amnesty from penalties and interest is right for you.