Frequently asked questions

If you have a specific question please don't hesitate to reach out to us.

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How does the Fresh Start Program work?

For every W2 employee on payroll during 2020 & 2021. The business can get a payroll credit of up to $26,000 per employee as a refund.

What's the minimum W-2 employees needed for ERC qualification?

For 2020 if you had 1 to 100 full-time employees on payroll, you may qualify. For 2021 if you had 1 to 500 full-time employees on payroll, you may qualify. Any W2 employee on payroll will qualify. Full-time, part-time, temporary, etc.

Do I have to pay any portion of ERC back?

No, you will not pay any of the ERC funds you receive back. It’s not a loan. Think of it as a refund.

Why did my accountant say I don't qualify due to no revenue loss?

Most accountants, bookkeepers, or CPAs heard about ERC when it first came out in the CARES act. When ERC first came out, the only way to qualify was loss in revenue. Since ERC came out, it has changed multiple times. Unless they kept up with ERC and read all 14 publications, they assume the only way to qualify is by loss of revenue.

What happens if I don't pay back taxes?

If you fail to pay back taxes, the IRS can impose penalties and interest on the outstanding amount. They may also initiate collection actions, such as placing a tax lien on your property or garnishing your wages.

Can I file back taxes for any tax year?

According to IRS policy, taxpayers generally have up to three years from each tax return's initial due date to file back taxes. However, there may be exceptions depending on your specific situation.

What is a tax lien, and how does it affect me?

A tax lien is a legal claim that the IRS places on your property as collateral for unpaid taxes. It can negatively impact your credit score, making it more challenging to sell or refinance the property.

Can I negotiate with the IRS to settle my back taxes for less than the full amount?

Yes, you may qualify for an Offer in Compromise (OIC), whichallows you to settle your tax liability for less than the total amount owed undercertain circumstances. However, the IRS carefully evaluates OIC requests.

What are my payment options for back taxes?

You have several payment options, including paying the full amount, setting up an installment agreement for monthly payments, or exploring an Offer in Compromise.

Can I get professional help to deal with my back taxes?

Yes, you may qualify for an Offer in Compromise. Yes, seeking professional assistance from a tax resolution service or a tax professional can provide valuable guidance in navigating the complexities of paying back taxes and resolving other tax issues.omise (OIC), which allows you to settle your tax liability for less than the total amount owed under certain circumstances. However, the IRS carefully evaluates OIC requests.

How many years can you file back taxes, and how long does paying back taxes take?

The time frame for resolving back taxes varies depending on the complexity of your situation. Depending on the chosen resolution method and cooperation with the IRS, it may take several months or years.