The IRS has a wide range of circumstances that are considered
“Reasonable Cause Criteria for Penalty Abatement.” If any of the
following have contributed to your tax accrual, you may be eligible
for penalty relief:
Ignorance of the Law, Forgetfulness, Mistake was Made, Death,
Serious Illness or Unavoidable Absence, Unable to Obtain Records,
Statutory Exceptions, Undue Hardship, Written and Oral Advise from
the IRS, Advise from a Tax Advisor, Fire, Casualty, Natural Disaster,
or Other Disturbance.
Send us the facts leading to the accrual of your tax liability.
We’ll prepare and submit your Penalty Abatement request and go
thru the proper channels within the IRS to give you the best chance
of penalty relief. M&M has been successful in removing hundreds
of thousands of dollars in penalties. You can view some of our most successful Penalty Abatement cases here. See if Penalty Abatement is right for you.
IRS Levy Release and Appeals
Bank levies and account receivable levies can bring your business
to a complete stop. M&M will fight to get your levy released.
We know your rights and if necessary, we’ll go to all appropriate
levels of the IRS and State to get the levy released. We’ll also
make sure it doesn’t happen again.
Partial Payment Installment Agreement – Similar to the Offer in Compromise M&M can secure a payment plan that ultimately will not pay the total tax debt in full.
Multiple Tier Installment Agreement – Secure a payment plan that starts low and increases over time according to your cash flow.
Reduce Penalties – A reduction in penalties will shorten the term of your payment plan and save you money.
M&M Financial specializes exclusively in resolving tax liabilities. Our clients are represented before the Collection Division of the IRS by tax teams with extensive experience headed by an Enrolled Agent. We offer superior service that ensures accountability and results. You can view some of our most successful cases here.
IRS Offer in Compromise
Very few taxpayers qualify for the Offer in Compromise and even fewer are successful in getting an Offer accepted. M&M’s experience in preparing and calculating Offers in Compromise will give you the best opportunity to save thousands of dollars on your tax debt. Once we have determined that you are eligible and qualify for the Offer, we will calculate, prepare and submit your Offer in Compromise for acceptance. You can view some of our most successful Offer in Compromise cases here. Click here to learn more about Offer in Compromise.
941 Trust Fund Representation
Trust Fund Recovery Penalty (TFRP) - The IRS has been
given the ability to "pierce the corporate veil" and
assess certain business tax to individuals. These taxes are called
Trust Fund taxes and include payroll tax among others. M&M
may be able to help you avoid the personal assessment altogether.
In certain cases, M&M
can set up a resolution that will allow your business to satisfy
its own tax liability, keeping the IRS from collecting on you
Is the IRS attempting to assess the Trust Fund portion of a business
tax liability to you? M&M can prepare and submit a formal Protest
to Appeal the assessment on your behalf.
State 100% Penalty Assessment - Most state taxing authorities
have been given the ability to "pierce the corporate veil" and
assess 100% of certain business tax, penalties and interest to
responsible individuals. These taxes include payroll tax and sales tax
among others. M&M may be able to help you avoid the 100% Penalty
Assessment altogether. Click here to learn more about Trust Fund Representation.
You probably know that a tax lien can compromise your credit rating, ruin your relationship with lenders, vendors and clients, and ultimately threaten your livelihood.
Worse yet, if your business uses a factoring company, a tax lien can close you down. But under certain conditions the IRS may withdraw its tax lien, subordinate its lien position to another creditor, or discharge the tax lien from a specific asset. In some cases, however, M&M may be able to help you avoid a tax lien altogether. View some of our most successful Lien Resolutions here. Click here to learn more about Lien Resolutions.
Currently Not Collectible, Uncollectible, Hardship Status
Yes, Currently Not Collectible status may be an option to resolve your IRS tax debt. In certain cases, the IRS will allow a delinquent taxpayer a period of time without making payments toward a back tax debt, if making a payment would cause a hardship. This is may also be referred to as Hardship status, Uncollectible or Status 53.
“I just want to say Thank You for all you have done for us. Over a year ago I would have never thought you could have done such an amazing job getting the overpowering, overreaching, over controlling and overbearing IRS and State to reach one settlement after another, and in the end it is all resolved!! I can never say in words how grateful and relieved I am for all your HELP and professionalism and kindness when I was scared to death! You’re the BEST and Thank YOU!”
Small Business Owner, North Carolina
“I wanted to take a moment to say thank you to M&M Financial. After the economic downfall, payroll taxes got behind and the stress from the IRS was overwhelming, but M&M resolved all of our tax issues. Not only was the matter resolved quickly and efficiently, the staff at M&M Financial was always available to talk with me. Their compassion was greatly appreciated in a very stressful time. Not only does M&M resolve tax matters, they are very good at listening any time of day when I needed a friend. Thank you.”
Jan R and Dana F.
Small Business Owners, South Carolina
“When the IRS sent me levy notices on the interest & penalties of the recently paid up withholding, I was at my wit’s end, especially when the lady in charge of my case would not return a single phone call. I contacted M&M Financial and they took over my case and amazingly the IRS lady would answer her calls. M&M Financial helped me get the majority of my penalties & interest dropped. I am so pleased with M&M did for me!”