Frequently Used Forms

It's common in most cases that a taxpayer will be required to fill out vital financial forms in order to receive any consideration for any resolution. A frequent mistake most taxpayer's make when drafting these forms is they often overstate their financial condition, one-way or another. When considering tax resolution, it's important to know what is allowable and what isn't. Adding frivolous expenses and overstating your position can lead the taxing authorities to believe you are filing, "Solely to Delay" and may cause your proposal to be rejected immediately. 

 

In many cases filing the form is only step one – you will have to prove your work; the Taxing Authorities will have some push-back and will scrutinize all details. Having experienced representation puts you in the best position to have your case resolvedWe understand the taxing authorities' objective is only to collect the liability in the shortest amount of time possible. That is why, Capstone Tax Consulting and its associates, takes ample time to  review your unique financial condition, understand your goals, and reconciles all necessary documents to perfect the taxing authority's financial forms and ensure your best interest is met so a final resolution is achieved and is manageable for you and/or your business. 

Below are just a few of the forms the taxing authorities will ask you to perfect, under the penalty of purdgery. 

This form is used to identify net income, equity in assets & investments, and "Future Collection Potential" (meaning they are they IRS/State are identifying how they can collect from you voluntarily or involuntary). Its important this is filled out correctly because it is signed under the penalty of perjury 

Use this form if you are a Individual Taxpayer of If your business is a Single-Member LLC or Sole Proprietorship.

This form is used to identify the business' viability and sustain ability -  the taxing authorities will look at equity in all business assets & investments, and "Future Collection Potential" (meaning the IRS/State are identifying how they can collect from you voluntarily or involuntary). The IRS ca can make a determination to force a shutdown of the business if it does not show it's sustainable while paying meeting its future tax obligations - IT IS VERY IMPORTANT to let a licensed individual review this form and any proposal prior to being submitted because of the serious negative implications. It's important this is filled out correctly because it is signed under the penalty of perjury 

Use this form if your business is a C-Corp., S-Corp., Multi-Member, LLC, or Partnership.

Keep in mind, as a business corporate officer or member, you may be assessed with "Trust Fund Recovery Penalty" for you individually and may be required to complete a 433-A in addition . 

 

Capstone's licensed associates will reconcile and perfect all pertinent finical documents to show the business is viable and make certain its best interests are met. 

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