M&M Business Tax Testimonial, Dolton Illinois

M&M Financial Reviews

Client complaints about M&M Financial Consulting’s Tax Resolution Service are few and far between. Here’s another great review from an Illinois small business owner.

“If anyone is looking to have a trust worthy company go to bat for them, M & M Financial is the company for you. Our company had the pleasure of dealing with Jonathan Stewart.

He and Lupe Figueroa worked diligently to help us resolve our federal payroll tax issues. It seems like every time the IRS was contacted by our company no one seemed to know what was previously said or done, so we had to start from scratch all the time. That is a very stressful situation.

After being contacted by M & M by one of their representative, we doubted the effectiveness of what they said they could offer. We have gone down that rabbit hole on more than one occasion without resolve. We ultimately decided to sign our contract with M & M after crucial scrutiny and investigation. The first couple of months were grueling paperwork issues.

No matter what, we received good common sense responses to any inquiries we made of them. It took about 8 ½ months to get our repayment plan set up and signed. Thank you guys for your help.”

Dolton, IL

2 Common IRS 941 Trust Fund Tax Appeals

941 Trust Fund TaxIRS payroll taxes have multiple components. The Trust Fund portion is definitely a component to focus on when dealing with back 941 taxes. This is where individuals get dragged into the mix of IRS collection. The government holds real people responsible for business taxes. Business owners, employees, shareholders, officers, bookkeepers and accountants may all be at risk of being held liable for the Trust Fund. Luckily, you can fight it.

If you’ve received IRS Letter 1153 proposing assessment of the Trust Fund, you have the ability to Protest it within 60 days of the date on the letter.

The 2 most common Protests are easy to understand, but often difficult to prove.

Ministerial Acts, TFRP Assessment Appeal

I’m Not an Owner. How Can I Be Responsible?

Although the “I’m not an owner” declaration isn’t a valid reason to protest the Trust Fund assessment on its own, further analysis may lead to a commonly accepted argument.

What people often mean to say is:

• I didn’t have authority to act independently.
• I acted under the direction of another person.
• I simply performed a “ministerial act”.

This position can be argued by anyone, even an officer of the company (although very difficult). For non-owner employees of a company, it can work well with a well thought out Protest.

Of the two determining factors of a Trust Fund assessment, Responsibility and Willfulness, lack of Responsibility is by far the easier to prove. That is, of course, if you aren’t actually Responsible.

Willfulness, on the other hand, is very difficult to disprove once you’ve been determined Responsible, especially for an officer of the company.

Misapplied Tax Payments

I’ve already paid it. All I have left is penalties and interest.

Making payments toward your back tax isn’t as simple as it may sound. And, it may not always do as much good as you believe it will.

There are specific rules governing payments to the IRS when back taxes are owed. To designate a payment to the IRS, first it must be a voluntary payment. Next, you must clearly advise the IRS where to apply it.

If you can prove that you clearly designated a voluntary payment to be applied toward the Trust Fund and the IRS failed to do it, you’ve got a potentially winnable Protest. If you don’t have the proof, it’ll be tough to get the IRS to see it your way.

941 Trust Fund Tax Guidance

If you’ve got questions about a Trust Fund case, we’ve got answers. Contact M&M for a pressure free, commitment free, confidential consultation. In about 10 minutes we’ll let you know if we can help, how we can help and how much it cost.

Did I mention that M&M was recognized by the BBB for Ethics in the Marketplace with the 2015 Honorable Mention Torch Award? Yes, we were. Here’s a picture.

Ethical Tax Debt Help

Ethical Tax Resolution Services

Information About Your Tax Lien

M&M Financial provides free tax guides on its website. Here is the information contained in the IRS Tax Liens guide. Click here to request the following free tax guides.

• IRS Tax Liens
• Penalty Abatement
• Offer in Compromise
• IRS Levy and Garnishment
• IRS Installment Agreement

IRS Tax Liens

If you have unpaid IRS tax, sooner or later the back tax liability will be assessed to your tax identification number and collection will ensue. A tax lien is a simple tool used by the IRS to collect tax debts. Not to be confused with a levy or garnishment, the IRS tax lien may damage your credit and cause other creditor nightmares, but it will not seize money from your bank account or paycheck. Below is some general information about the IRS tax lien.

What Is an IRS Tax Lien?

An IRS tax lien is a legal claim by the US Government against your property as security for payment when you owe a back tax debt. Before a Federal tax lien exists, the IRS must:

• Assess a tax liability to you;
• Send you a Notice and Demand for Payment;
• You must also neglect or refuse to pay the tax debt within 60 days.

The IRS tax lien attaches to property and rights to property owned on the date the tax is assessed and acquired thereafter. These are the requirements for a statutory tax lien, which attaches to your property, but cannot be seen by other creditors.

To have priority over other creditors, the IRS must file a Notice of Federal Tax Lien (NFTL) to be recorded according to state law, usually with the County Recorder of Deeds, Secretary of State’s office or both. A NFTL may be recorded in multiple counties and multiple states, depending on where the taxpayer resides and where property is located.

Remember, if you have a NFTL in place, resolving your tax debt through a formal Installment Agreement, CNC status or an OIC may allow you to request the Withdrawal of the tax lien.

How Will an IRS Tax Lien Affect Me?

A NFTL will notify other creditors of the government’s right to your property. It may prevent you from selling assets, lower your credit score, make it very difficult for you to borrow money and may even prevent you from opening a new bank account. A tax lien even attaches to any future assets you may acquire while the lien is in place. If you owe business taxes, a tax lien will attach to your business property, even accounts receivable.

You will also begin to receive a tremendous amount of phone calls from tax resolution companies.

Why Am I Getting So Many Phone Calls?

When a tax lien is filed with the Secretary of State or county recorder’s office, it becomes public record. This is when the phone calls begin. Tax resolution companies gather this information and reach out to struggling taxpayers, mostly through the telephone and by mail.

There are pockets of tax resolution companies in areas such as Denver and Southern California. You’ll receive a lot of solicitations from companies in these areas. Typically, if one company shuts its doors in Colorado, groups of employees will sprout new companies, often using the same business practices. This can be dangerous because the same business practices put the original company out of business in the first place.

Many of these companies are big, carrying 100 or more employees. As you can imagine, many times their clients get lost in the shuffle. Their clients end up paying the price in additional fees and shotty work. M&M carries less than 20 employees by design. This ensures accountability and consistency to our clients and allow for quick case resolution. The owners of M&M work every day in the business, just like most of our clients. Additionally, we only take on those clients we truly feel we can help.

Do I Have a Tax Lien or Levy?

Many people confuse liens and levies, and vice versa. While a tax lien secures the US Government’s position to collect a tax debt, a levy actually transfers the asset to the IRS to satisfy the tax debt. For example:

I owe the IRS $10,000 in back income tax. I also have $20,000 in my savings account. The IRS tax lien merely claims a right to $10,000 of my $20,000 in the bank. A levy will actually cause the bank to remove my $10,000 and send it to the IRS as payment to satisfy my debt.

How Long Will It Take the IRS to Release My Tax Lien After I Full Pay My Tax Debt?

The IRS states that a Release of Federal Tax Lien will be sent to the recording office within 30 days of full payment of the tax liability.

A Texas sized Tax Relief Testimonial for M&M Financial

Another Satisfied M&M Tax Resolution Client in the Lone Star State.  See  real M&M Texas Tax Debt Relief Case Examples.

“When we found ourselves facing an IRS debt of close to a third of a million dollars we knew that we needed help. We had put ourselves in this position so we were not trying to avoid paying what we owed, we just needed someone to help us wade through the morass of documents that were coming our way from the IRS. we were approached by so many companies that ‘wanted to help’ but M&M was different, as we listened to them they were able to talk about the issues in a way that inspired confidence (most of the other companies left messages telling us we were in trouble; M&M spent time explaining the process and how they could help).

And they were as wonderful as we could hope that they would be. They were there when the IRS sent us confusing documents. They were there to manage the communication with the IRS (so we didn’t have to). They were there to explain how to make our payments and they were there when the letters kept coming even after we had paid it off.

I cannot overstate the peace that came from knowing I could pick up the phone (or email) and call M&M and they would be able to explain it to me and tell me what (if anything) I needed to do.

If you owe the IRS money, sign up with M&M; O can’t imagine the hell that my life would have become if I had not done so.”

Glenn M.
Small Business Owner
Grapevine, TX 76051

M&M Financial Tax Relief Review Olympia Fields IL 60461

M&M Financial’s 15 Day Guarantee is real.  This Illinois client was pleasantly surprised by it.

“I would highly recommend the tax services of MM Financial. Their staff were very comprehensive, trustworthy, efficient and professional. I never felt that they were trying to sell me any unnecessary services. In fact, after assessing my case they provided me with a solution, advised me that I could do it independently and refunded my money. I would absolutely utilize their services again.”

Sherri S.
Small Business Owner
Olympia Fields, Illinois 60461

Our Tax Relief Clients and the BBB Love Us!

M&M BBB Review

M&M Financial – 10 Years Accredited with the BBB – 10 Years Solving Tax Problems

M&M Financial Consulting, Inc. just received a Special Membership Recognition Award for being accredited with the Better Business Bureau for 10 years. Time flies!

M&M Financial has been resolving tax liabilities nationwide since 2005 and we’ve worked hard to earn these prestigious BBB Awards:

• 2015 BBB Honorable Mention Torch Award for Marketplace Ethics
• 2015 BBB 10 Year Accredited Business Award
• BBB Complaint Free Award
 2012
 2010
 2009
 2008
 2007
 2006

Over the years M&M Financial has built an expert team of Tax Resolution Specialists that have successfully helped thousands of business owners resolve their tax liabilities and get back to making money. We proudly boast one of the best proven track records in the Tax Resolution industry.

If you or your business owes the IRS back taxes and you are unsure on how to address the issue, call 866-487-5624 for a complimentary tax consultation.

Information About Your IRS Offer in Compromise

M&M Financial provides free tax guides on its website. Here is the information contained in the IRS Offer in Compromise guide. Click here to request the following free tax guides.

• IRS Tax Liens
• Penalty Abatement
• Offer in Compromise
• IRS Levy and Garnishment
• IRS Installment Agreement

Offer in Compromise (OIC)

The Offer in Compromise is a government tax debt resolution program that allows a delinquent taxpayer to settle a tax liability for less than the full amount owed. If you don’t have the ability to pay your total tax debt through monthly payments, if paying the tax debt will cause you to suffer a financial hardship, or if you don’t believe you owe the tax debt, you may qualify for the OIC.

If you do not have equity in assets and do not show the ability to make monthly payments (considering the IRS Collection Financial Standards), you may be a good candidate for the OIC. Continue reading

M&M Financial North Carolina Customer Review – Tax Relief

M&M Financial Tax Relief Client Review – North Carolina

“I had a very professional and courteous experience with M&M Financial. The staff are very respectful and have great skills in dealing with IRS. The tax burden I faced was huge, however, it eventually seemed feasible as soon as I handed it over to M&M Financial. They contacted the IRS agent handling my case and started working for me straight away.

Everyone I talked to at M&M Financial treated me with respect and gave me hope in what I wanted accomplished. M&M Financial negotiated with IRS on my behalf and made sure I was comfortable with the payment option I chose. I would recommend M&M Financial to my family, friends or anyone facing the IRS.”

George O.
Small Business Owner
North Carolina

M&M Financial Satisfied Customer Review – Tax Relief

M&M Business Tax Resolution Customer Review

“I have worked with M&M Financial, particularly Jonathan Stewart for many years. Hiring M&M was the best business decision I ever made. Jon has been a life savor for my business. He has handled any, and every issue I had arise, within a very prompt, and professional manner. I would highly recommend M&M financial for any tax issue, or problem one might have. They have been a first class company to work with.”

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