Services
What We Do
Accounting Services
Outsourced Accounting
Outsourced accounting involves delegating financial tasks to external professionals, enabling businesses to focus on core operations. It offers benefits such as cost savings, access to expert knowledge, increased accuracy, scalability, and enhanced data security. Outsourced accounting streamlines financial processes, ensures compliance, and provides valuable insights for informed decision-making.
Tax Resolution Services
We offers comprehensive tax services for individuals and businesses. From tax resolution and debt relief to bookkeeping and tax preparation, we provide affordable, customized solutions nationwide.
Tax Preparation
Experience top-notch tax preparation services with us. As soon as you provide your information, our dedicated tax practitioner will reach out to you within 24 hours, making you our priority.
Tax Services
Individual Tax Services
Individual tax services address unique tax requirements, providing guidance in planning, preparation, and compliance to ensure accurate fulfillment of obligations and optimize tax outcomes.
Estate & Trust Tax Services
Estate & trust tax services offer specialized guidance in tax planning, compliance, and optimization for estates and trusts.
What We Offer
Apex Advisor Groups offers these types of debt resolutions:
Taxpayers who are currently not experiencing financial hardship but are on the verge of reaching that threshold may have an opportunity to qualify for an Offer In Compromise. This option is particularly relevant for individuals who would face financial hardship if they were to include tax debt payments in their existing expenses. In such cases, the IRS assesses the maximum amount they could obtain from the taxpayer without causing financial hardship. The remaining debt is then forgiven, and the taxpayer is relieved of their liability once they fulfill the conditions outlined in their agreement with the IRS. The IRS takes into account the taxpayer’s disposable income and any assets they hold when determining eligibility for an offer in compromise. This option allows taxpayers to settle their debt with the IRS for a significantly reduced amount compared to what they owe. While Offers In Compromise are challenging to obtain, they offer substantial benefits to struggling taxpayers who qualify. At CTR, we possess extensive expertise in assessing taxpayers’ eligibility for an offer in compromise and have achieved remarkable success in negotiating and submitting offers in compromise on behalf of our clients.
The installment agreement serves as a tax debt resolution option, providing individuals with a structured plan to gradually pay off their balance within a timeframe typically spanning from 6 months to ten years. The duration of the agreement may vary depending on the amount owed to the IRS or state tax agency. At CTR, we meticulously assess the taxpayer’s personal assets, property, and other financial information to determine the appropriate monthly payment amount. We then negotiate with the IRS to secure a favorable payment arrangement. These installment agreements are flexible, designed to accommodate the taxpayer’s other financial obligations and specific needs while ensuring the fulfillment of IRS or state tax debt obligations.
The Installment Agreement we offer provides taxpayers with a solution to effectively manage and complete payment on significant expenses, such as car loans or child support payments. This plan involves a structured payment schedule where the primary focus is on the larger expense, while smaller installments are allocated towards the unpaid tax balance. Once the outstanding balance of the initial expense is settled, typically within 12 months, the taxpayer transitions the entire payment towards resolving the back taxes over the subsequent 48-60 months. This program effectively alleviates the burden of tax payments without jeopardizing the fulfillment of other financial obligations.
Streamline Installment Agreement
The eligibility for this particular installment agreement is determined by a set of specific guidelines. It offers certain advantages that make it a worthwhile option, including the requirement of disclosing limited financial information to the federal or state tax agency. To qualify, the assessed or actual tax balance owed must be $50,000 or less. Additionally, the total balance, inclusive of accrued penalties and interest, must be paid off to the IRS or state within a 60-72 month timeframe. This arrangement is particularly beneficial for taxpayers with significant assets or disposable income.
Partial Pay Installment Agreement
Managing the Partial Payment Installment Agreement (PPIA) requires a bit more attention to records, but it can yield significant savings on taxpayers’ tax balances. To qualify for this plan, taxpayers are required to disclose all their financial information and submit relevant documents to the IRS for acceptance. At CTR, we negotiate a hardship payment based on the taxpayer’s current financial situation. This hardship payment is typically lower than the monthly amount necessary to fully satisfy the tax debt. It’s important to note that the IRS has a 10-Year Statute of Limitations within which they can collect past due tax debt. While the PPIA payment is made throughout this 10-year period, it may not fully settle the tax balance by the time the IRS can no longer collect on the debt.
Conditional Expense Installment Agreement
The Conditional Installment Agreement (CIA) stands out as a highly flexible arrangement that enables taxpayers to concurrently address their tax debt issues while maintaining a long-term monthly payment commitment or specific expenses. To qualify for this agreement, individuals must demonstrate a consistent payment schedule for obligations like a 401k program or a credit card that they are obligated to uphold. The CIA typically spans over 60 months and ensures the complete repayment of the debt. Throughout this period, the taxpayer is responsible for three key obligations: making timely payments to the IRS as agreed upon, continuing to fulfill their conditional expenses and providing proof to the tax agency, and submitting any necessary financial documents or records as required. This program empowers taxpayers to sustain their current lifestyle without disruption while fulfilling their IRS debt obligations in full.
Traditional Installment Agreement
The straightforward payment method we offer is a simple installment plan that allows taxpayers to gradually settle their entire tax debt through multiple payments. The amount owed is divided into monthly installments, spread over the 10-Year Statute of Limitations period, and is tailored to the taxpayer’s current financial circumstances. This program alleviates the burden of making a lump-sum payment, providing taxpayers with peace of mind. With this plan, taxpayers can fulfill their tax debt obligations over time, without the risk of facing levies or wage garnishments.
Currently Not Collectible Status
Taxpayers facing significant financial hardship may discover a pathway to complete relief from their IRS debt through Currently Not Collectible (CNC) status. This status removes the taxpayer’s tax balances from active collections with the IRS. To qualify, the taxpayer must provide documentation of their current financial condition, demonstrating an inability to meet their basic obligations, including their tax liability. The IRS declares a financial hardship based on this information. It’s important to note that the Statute of Limitations on tax debt is 10 years, so the taxpayer must consistently file their tax returns and promptly provide any requested information to the IRS. If the taxpayer’s financial situation improves, such as receiving a raise or experiencing changes in their income-to-expense ratio, they may lose their Currently Not Collectible status. In such cases, a new payment plan can be negotiated to settle the balance with the IRS, taking into account the taxpayer’s updated financial situation. The Currently Not Collectible status offers taxpayers temporary relief while they strive to improve their financial condition.
Our penalty abatement assistance is designed to address the impact of penalties on tax debt situations. With this service, we aim to eliminate the added penalties associated with tax obligations. It’s important to note that penalty abatement solely applies to penalties, as the IRS does not currently offer abatement for interest. To qualify for penalty abatement, individuals can provide evidence demonstrating valid reasons for missing payments, filing deadlines, or engaging in noncompliant behavior beyond their control. Additionally, they must demonstrate proactive efforts to rectify the situation by filing any outstanding forms or returns and settling the required balances. Our team is here to guide taxpayers through the penalty abatement process and help alleviate the burden of penalties on their tax debt.
Free Estimation
Request A Quote
Our dedication lies in delivering exceptional client service, ensuring prompt and dependable support throughout the entire tax consulting process.