Tax Preparation in Prescott, AZ

Your Full Service Tax Preparation and Tax Strategy Specialist in Prescott.

TAX SERVICES in PRESCOTT, AZ

Tax strategies Southwest, located in Prescott, AZ, can assist you with almost any tax issue you are facing, and help you resolve your problems with the IRS. Jack Wood, the owner of Tax Strategies Southwest, is an Enrolled Agent. Enrolled Agents are tax professionals who are licensed by the United States Treasury to represent clients in their dealings with the IRS. Jack Wood can represent clients in any administrative tax matter at any IRS office. We can assist you with the following tax services:

• Tax Planning

• Audit Appeals

• Innocent Spouse

• Offers in Compromise

• Trust Fund Penalties

• Tax Returns

• Liens & Levies

• Collection Appeals

• Non-Filers

• Payroll Tax Problems

• Tax Audits

• Tax Debt Resolution

ABOUT US

About Tax Strategies Southwest

When you choose tax strategy southwest of Prescott, AZ to assist with your tax problems, you receive the guidance of Jack Wood, who has more than 50 years of professional tax experience. After working with the IRS as a tax auditor for 14 years, Jack has continued providing his clients with exceptional personal representation. No matter how difficult your problem may be, we can help.

Trusted Tax Services

Why Choose Us?

Owner Jack Wood of Tax Strategies Southwest in Prescott, AZ offers Free Initial Consultations to potential new clients. Call or email our office, or complete the contact form below, to schedule a time to speak with him about your tax problems.

50+ Years Tax Experience

FAQ

Frequently Asked Questions

Tax Strategies Southwest of Prescott, AZ is owned and operated by Jack Wood, who is enrolled to practice before the Internal Revenue Service, and has been doing so for more than 50 years. Tax Strategies Southwest is a trustworthy tax service and Jack has the qualifications to get you through difficult situations.

What happens if I fall behind on my taxes?

In many cases, people who fail to file tax returns don’t do so intentionally, but usually miss the filing deadline, because of personal or business problems, and then have trouble catching up afterword. It is very important to file tax returns, even if you don’t have the money to pay the taxes owed. Tax Strategies Southwest can develop a plan of action to file delinquent returns and help to get you current with the IRS. Getting current and staying current with your tax filings is very important in dealing with the IRS.

Has the IRS assessed a tax liability that you think is wrong?

The IRS may audit a tax return after it is filed, usually for up to three years after the tax is assessed. Many audits are done by correspondence. A large number of these involve computer matching of income that is reported to the IRS against income that appears on your tax return. In some cases, a person may forget to report wages from employer, or a job as an independent contractor. In other cases, a person may omit a pension distribution or gambling winnings. In recent years, there are special reporting requirements associated with foreclosures and debt forgiveness. Responding affectively to these audits is extremely important. In some cases, the IRS will propose a tax assessment for someone who has failed to file a tax return. These “Substitute for Return” assessments are often larger than a tax is actually due, and can create problems in terms of debt resolution later on.

If a person owes delinquent taxes, will the IRS waive the penalties and interest?

The IRS cannot waive interest on tax debts, because the interest is mandated by Congress. In some cases, the IRS may waive all or part of penalties, but this is not a common practice. When a person asks for relief from penalties, the IRS looks at the persons tax compliance history as well as personal and business factors, and then determines whether relief is warranted. In recent years, getting penalties of baited has been increasingly difficult

If a person owes much more tax than they could ever pay, what options exist?

Unmanageable tax debt requires careful analysis to identify available options. The type of assessment is important, as well as the age of the debt. The persons current and prospective financial condition is always an important factor. In some cases, the IRS may except a monthly payment agreement, even if it is not enough to satisfy the full debt. In another case, the IRS may agree that a persons financial condition warrants no collection action of present. In some cases, individual income taxes may be discharged in bankruptcy. In other situations, and offer in compromise may provide a good means of settling in large tax debt.

Does it make sense to “appeal” an IRS action within an agency?

The IRS Office of Appeals strives to take an objective and impartial look at contested issues, and to arrive at a settlement that is fair to the government into the taxpayer. A successful appeal will require planning, preparation, and effective advocacy. An appeal within the IRS avoids court costs and a more formal and complicated process. In many instances, determination by the IRS Office of Appeals can be appealed to the courts.

Do I need to hire a tax professional to represent me before the IRS?

A person could handle their own case, but like most bureaucratic affairs, dealing with the IRS requires specialized knowledge and experience for a successful outcome. Tax attorneys, certified public accountants, and enrolled agents are specifically authorized to represent individuals and businesses before all administrative levels of the Internal Revenue Service. Enrolled agents are the only tax professionals licensed by the United States Treasury to represent taxpayers before the IRS, and must meet rigorous tax knowledge and ethical requirements. Even when you decide to have an attorney, a CPA, or an Enrolled Agent represent you before the IRS, it is critical to retain a person who has the training and specialized experience to advocate effectively for you.

If you are in northern Arizona and are interested in working with John and the team at Tax Strategies Southwest, please call us to schedule an appointment.