The COVID-19 pandemic has had a largescale impact to our economy and overall financial outlook in one form or another. Uncertainty and amplified market volatility are at an all-time high. In order to help our country return to fiscal normalcy as quickly as possible, our government has enacted several relief bills in order to help stimulate and steer the economy towards self-correction. While these measures are inarguably the right thing to do under these unprecedented circumstances, we may likely experience tax increases in the near future as a result of taking this “necessary evil” action.
Unpaid tax debts have already increased in the U.S., reaching $83 billion owed (pre-pandemic). That’s approximately $10,000 per household! The IRS has an advantage if a taxpayer does not have representation, it gives them an edge because of the taxpayer’s lack of tax law knowledge.
We have the resources to help mitigate higher taxes in your future as well as reach an agreement with the IRS to lower your outstanding tax bill.