Tax Problem Resolution Support for Northern Wisconsin & Upper Michigan

Why Unfiled Tax Returns Are Not Healthy for Your Financial Life

The average unfiled tax return is in the range of 5-7 years. This occurs for a host of reasons, ultimately because: life gets in the way sometimes. Examples of life getting in the way include:

• Divorces
• Marriage
• Substance abuse
• Severe medical issues, disability
• Government distrust

Unhealthy outcomes of unfiled tax returns (specifically, tax returns unfiled for multiple years) include:

1.    Tarnishes one’s credit scores
2.    Hinders borrowing capability from a bank/credit union
3.    Wage garnishments and bank levies hinder ability to pay regular bills
4.    Places professional/technical licenses at risk of “non renewal”
5.    Puts stress on personal relationships
6.    May impair new employment opportunities
7.    Late tax returns accrue penalties and interest – penalties accrue the quickest and can double your tax bill.
8.    Open years may invite tax identity theft issues

Tax Relief is Available Under the IRS People First Initiative

The IRS People First Initiative was established by the IRS on March 25, 2020 to help taxpayers dealing with the economic fallout of COVID-19, as well as taxpayers who are behind on payments or who have unfiled tax returns. The program suspends payments due on installment plans until July 15, 2020 and extends the deadline for submitting information requested by the IRS to support an Offer in Compromise agreement until July 15, 2020.

If you have unfiled tax returns, now is the time to take advantage of this opportunity to get back in good standing with the IRS. James Hintzke can help you negotiate the best path forward.

Like any creditor, the IRS and Wisconsin have the power to garnish your wages to satisfy your tax debt. A wage garnishment, will be sent to your employer. This levy requires your employer to remit a portion of your wages to Wisconsin to satisfy your tax debt.

When it comes to state tax problems, CPA Jim Hintzke has the experience you need. Jim will negotiate with Wisconsin on your behalf to resolve state tax problems in Rhinelander and all surrounding communities, as well as cities in Northern Michigan. There are programs Jim can utilize to settle your tax debts for less money than you owe, so call him today to get started.

This message is for those of you who may have overdue federal and state taxes. Did you know that the IRS and state revenue departments can file a tax lien against your home, property and assets if they can’t collect an overdue tax debt?

Tax liens are damaging for multiple reasons:

• They prevent you from selling property.
• They make getting bank loans very difficult.
• They’re a big negative on your credit, and they are public record for anyone to see.
• They make solving your overdue tax difficult, but not impossible.

The good news is it doesn’t have to be this way. Rhinelander CPA Jim Hintzke can fix your tax problems.

Bank levies occur when taxes are unpaid, and a freeze is put on the debtor’s bank account in order to obtain the unpaid money. The Wisconsin Department of Revenue is the most common organization to utilize bank levies. The best way to deal with a bank levy is to contact CPA Jim Hintzke, who will negotiate with Wisconsin to arrange an immediate solution.

Our closed audit statistics indicate that where taxpayers began the process without representation, the audit scope was expanded and the timing of the audit dragged, with imminent negative results. When we were engaged earlier in the audit process, we were able to narrow the scope, speed up the timing of the audit, and negotiate more favorable results.

Jim Hintzke’s commitment to the enforcement of confidential information is especially important, as the IRS continues to battle the issue of Tax Identity Theft. Nothing is more of an eye-opener for taxpayers than when they determine they cannot file their tax return electronically, shocked to discover their social security number has already been used on another tax return for the current tax year. What has occurred is Tax Identity Theft, and the taxpayer soon realizes they have become a victim. Someone stole their social security number to file a tax return, claiming a fraudulent refund. Jim will work closely with the IRS Identity Theft Resolution Unit to expedite the taxpayer’s refund, assess taxpayer safeguards in protecting sensitive identity information, and assist the taxpayer in assessing any other compromises that may have affected their personal finances.