Burlington County, NJ Real Estate News

Understanding IRS notices can be very challenging for taxpayer, which is one of the reasons why it's left un-opened. Not a good idea? Ignoring IRS as everything is quit is not the answer. I represent taxpayer in Mount Laurel and the rest of  New Jersey.One of the IRS notices can say " Final Balance Due Reminder- Notice of Intent to Seize (Levy) Your Property or Right to Property.As a taxpayer, this is the opportunity to make things right. Remember John when he called me 2 weeks ago about his back tax debt issue when his bank account was levied? What did the tax levy do to John? The tax Levy reached his money in his bank account that day. So, we were able to save the day for John. Fortunately, John did move quickly  and we got his money back. John was also qualified for first time penalt...
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As a local expert Tax Resolution Firm ourselves serving Mount Laurel and the rest of New Jersey, we encourage all readers facing a back tax debt to contact us for a consultation.It is important to know who to trust and get educated on what your options are to resolve your tax debt problem.You may have heard on the radio and online, that you can settle your tax bill for less than what you owe. But are these claims actually true? And can you really settle your tax debt without hurting yourself in the long run?The truth is that though it’s often harder than they claim to settle for less than you owe the IRS, it is possible and you must first learn if you qualify for the program. This is called an "offer in compromise," but settling is not necessarily a bad thing.An "offer in compromise" is...
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In my office last week Thursday in Mount Laurel, New Jersey a John called me at 4:45 PM. So John was trying to get his final returns filed, he has been levied, was hiding it from his spouse and is now frantic because they will bounce the checks. His spouse is blaming him for everything. So, what led John to this situation?A tax levy is generally issued when a taxpayer has either failed to respond to the IRS requests or failed to provide the collection division information when they received IRS Notices. Before property can be levied, the taxpayer must be given a: Notice and demand (billing notice) Notice of intent to levy, and (threat to levy) Notice of a right to a collection Due Process (CDP) hearing (final notice intent to levy) We can help you with your levy and your IRS notices. If...
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I represent taxpayer in Mount Laurel and the rest of New Jersey (NJ). If you don't have money to pay what you owe the IRS, you have a few options to work with. Whatever you do, don’t ignore the letters from the IRS and don’t let your back tax problem go unattended. The IRS has a great deal of power when it comes to recovering money they think is theirs. When you owe the IRS money,  they can garnish your wages, levy your bank accounts, put a lien on your home and seize other assets. Here's what you can do if you find yourself not being able to pay your taxes. Note, we always recommend getting in touch with a tax resolution professional to help avoid the harsh penalties and interest that accrued on your back taxes. It’s far easier to navigate towards tax resolution, if you have a professi...
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Being that I represent taxpayers in Mount Laurel and the rest of New Jersey, taxpayers often tells me they want to Understand a Federal Tax Lien.A federal tax lien is the government's legal claim against your property when you neglect of fail to pay a tax debt. The lien protects the government's interest in all your property, including real estate, personal property and financial assets. A federal tax lien exists after:The IRS: Put your balance due on the books (assesses your liability) Sends you a bill that explains how much you owe (Notice and Demand for payment) YOU:Neglect of refuse to fully pay the debt in time.The IRS files a public document, the Notice of Federal Tax Lien, to alert creditors that the government has a legal right to your property.How to Get Rid of a Lien?Paying yo...
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I represent taxpayer in Mount Laurel and the rest of New Jersey. Taxpayer often ask me "How did I get to the point of my bank account being levy?"There are six steps before IRS levy your account.1. A tax return is filled, either voluntarily by the taxpayer or the IRS creates a return for them ( a "substitute for Return" under IRC section 6020). Once the return is secured the tax liability is assessed.2. Once the tax is assessed a billing notice is sent to the taxpayer with a demand for payment.3. If the billing notice goes unpaid, a lien arises automatically by statute. The IRS does not have to file anything for the federal tax lien to be created, as IRC section 6321 creates it automatically. However, nobody knows about the 'silent lien' so the IRS will file a Notice of Federal Tax Lien...
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Representation NewsletterWe know the story: things are tight financially, so you either (1) do not file the tax return, or (2) file the tax return but don't pay the balance due. But do not worry, you tell yourself, next year will be better. Now it is 2-3 years later and a letter arrives from the IRS, and the threats start, and maybe it has even gotten to the point of actual levy and seizure activity. Now the IRS is wreaking havoc on your financial life and you simply do not know what to do.  We know. We have helped many clients through that exact scenario. Fear not, there is a light at the end of the tunnel. As it turns out the IRS is usually only too happy to work with taxpayers, but there are some ground rule you need to be aware of and a roadmap to follow.1. Tax ComplianceThe first s...
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 We focus our practice on tax resolution issues in Mount Laurel and across New Jersey. We deal with taxpayers who have fallen into the IRS Collection Division's inventory and are dealing with federal tax levies by the Internal Revenue Service (IRS). A question that comes up often is what can the IRS really seize?There are two types of federal tax levies issued by the IRS: a "regular" levy and a "continuing" levy. A continuing levy is a levy issued by the IRS on wages or routinely paid commissions, so it will remain in place until is released. A "regular" levy issued by the IRS reaches the assets owned by the taxpayer at the moment the levy is received. Look at it this way: Assume Taxpayer owes the IRS $10,000. Taxpayer has $200 in their bank account on Tuesday. Tuesday at 3:30 pm the ba...
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Being that I represent taxpayer in Mount Laurel and the rest of New Jersey. I have noticed that many taxpayers are receiving Final Notice of Intent to Levy... Now What?OnPoint Resolution got this, no reason to panic. What do we need to do? Let's talk to the government, let's work on a collection alternative. If you have received this notice, give us a call at 973-840-7350 today! I'm Fanta Kaba, I'm here to help you. Let's get this sorted out. There is no reason why should be levied. What does it mean when you receive an IRS notice stating "Final Notice of Intent to Levy"What the final notice is your last wake up call. Come in, let's work a resolution: Offer in Compromise (OIC), Installment agreement or Currently Not Collectable (CNC). I'll get on the phone. You don't have to talk to the...
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I represent taxpayers in Mount Laurel and the rest of New Jersey. When taxpayers come into our office, many are asking why the IRS penalizes us taxpayers?I had to find the best way to say:Penalties is not to punish taxpayers. Think of it this way, why would any taxpayers go out of their way to keep good records, file their quarterly or annual taxes and then file on time? Because they do not want to be penalized by IRS or their state.IRS penalizes taxpayer because it encourage voluntary compliance. If there is no penalty, why would you file and pay on time? Penalty conserve IRS resources. IRS or the state cannot be chasing after taxpayer for not filing or paying on time. Penalties provide clear guidance to taxpayers and practitioners. It ensure consistent and fair treatment of the issue....
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I represent taxpayers in Mount Laurel, New Jersey with back tax debt. So, why does IRS take payroll taxes very serious? Think about it this way: You are an employer with 2 employees.  You pay your employees $20,000 per year Your employees are in a 10% tax bracket for example Your employees must pay $2000 each in income tax to the IRS Let's say you pay your employees every Friday. You withhold $384.61 from your employees paycheck each week With this information, you the employer is taking taxes out of your employees' check and must send it to IRS, but instead you don't. At the end of the year, when you the employer send your employees their W2s stating they have paid $2000 in taxes, but IRS have not received any payment from you. Now there is a big problem because you are keeping your em...
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I represent tax payers in Mount Laurel, NJ. Here is a video on Gig workers with tax time issues.https://youtu.be/-i_qAWNN5lwContact me today if you have any questions:Fanta KabaOnPoint Resolution LLC309 Fellowship Road, suite 200Mount Laurel, NJ 08054Tel. 973.840.7350Fax. 347.344.6942onpoint@onpointresolution.comwww.onpointresolution.com 
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I represent taxpayers in Mount Laurel and rest of NJ.If you are a member of the gig economy, you are not alone. Millions of others have made the same choice, voting with their feet and their time, and leaving the world of traditional employment behind.Step 1 -- Start As Early As PossibleIt's always a good idea to start your tax planning early, but it's even more critical when you are self-employed or a member of the gig economy. If you are used to getting your taxes done in an afternoon, you have a serious wake-up call in front of you. If you do not start early, you might not finish on time.Keep in mind that you may not be able to file early, as it likely will take some time to wrap your head around the complicated tax laws, find the right tax professional, research deductions and ensur...
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I specialize in helping taxpayers in Mount Laurel and the rest of New Jersey who owe $10,000 or more to the IRS or have years of unfiled tax returns.Tax time is not fun, but reaching the end and finding you owe money is even worse. If the results of your tax preparation activities are less than optimal, you might think the only choice is to write the check, but that may not be the case.However, depending on the circumstances and the time of year you’re reading this,  you may be able to trim your tax bill now, before you file and write that check. Here are some possible ways to trim the high cost of filing taxes and keep more money in your pocket.Boosting your year-end 401(k) contribution might not help you for 2021 but planning ahead is always key and for 2022 you still have time to inc...
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I represent taxpayers in Mount Laurel and the rest of New Jersey. I have noticed that even if you are relying on your clients to issue 1099 forms, it is a good idea to add up your income on your own. Keep in mind not all clients may issue 1099s, and the ones that do could report inaccurate or incomplete figures, and by adding it up on your own you will be able to catch these problems early, while replacement forms can still be issued. Keep in mind that adding up your income on a monthly basis will help you prepare for estimated tax payment if you are going to end up owing money to IRS. Adding up your income will also serve a number of other purposes, each important to your timely tax filing and the maximizing of your hoped-for refund. For one thing, knowing how much you earned will allo...
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If you want to avoid getting into tax debt,  you must watch this videohttps://youtu.be/PrXUvPQyifYIf you have any question on: Offer in compromise Installment Agreement Currently Not Collectable                      Fanta KabaOnPoint Resolution LLC309 Fellowship Road, suite 200Mount Laurel, NJ 08054Tel. 973.840.7350Fax. 347.344.6942www.onpointresolution.comonpoint@onpointresolution.com  
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I represent taxpayers in Mount Laurel and the rest of New Jersey who owe back tax debt. I have noticed that one of the biggest stories in the world of business is the growing shift toward self-employment. An ever-increasing number of men and women are saying goodbye to their colleagues, their cubicles, and their corporate overlords, choosing instead to make their own way in life.If you are one of these self-employed individuals or a new member of the gig economy, tax filing season could be more complicated than you think. Instead of merely plugging in the numbers from your W2, you will need to gather multiple forms, crunch the numbers, seek out deductions and look for solutions to tax problems you did not even know existed.Faced with those difficulties, you will want to start your tax p...
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Do you owe back taxes to IRS or state and have IRS tax lien filed on your property?  Watch a quick video on the way out. Get tax relief today.https://youtu.be/zx4BreVff4QFanta KabaOnpoint Resolution LLC309 Fellowship Road, suite 200Mount Laurel, NJ 08054Tel. 973-840-7350Fax. 347-344-6942onpoint@onpointresolution.comwww.onpointresolution.com 
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My name is Fanta Kaba. I represent taxpayers who owe back taxes to IRS or the state Mount Laurel and the rest of New Jersey. Is it a myth when some taxpayers say you can't sale your home when IRS file a tax lien on your property? Yes it is.Some individuals or business have a property they will like to refinance and have no idea how to get is done because they believe that with a tax lien on it, nothing could get done. Nothing could be further from the truth. Get some tax relief today!As a taxpayer, when you own back taxes to IRS and IRS has filed a lien on your property; you have to request a lien subordination from IRS.If you or anyone you know owes back taxes with a IRS lien filed on their property, call us today at 973-840-7350 or email us at onpoint@onpointresolution.com.Fanta KabaO...
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Have you been receiving IRS Notices for owing back tax debt?Must watch this video:https://youtu.be/s9daTt0Pwa8If you have any question, you can contact us at 973-840-7350 or email us at onpoint@onpointresolution.com Fanta Kaba OnPoint Resolution LLC309 Fellowship Road, suite 200Mount Laurel, NJ 08054Tel. 973-840-7350Fax. 347-344-6942onpoint@onpointresolution.comwww.onpointresolution.com  
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