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ERC Associates PLLC
Scytheville Row, 75 Newport Rd -
PO Box 1726
New London, NH 03257-1726
Tax CentralWe are dedicated to keeping clients abreast of the latest tax law changes, planning strategies and vital tax-related information. This section includes a library of timely articles, due date reminders and much more. The articles are categorized by subject matter, which can be accessed from the links.
Click on your topic of interest and find a wealth of information.
If you owe money to the IRS, we can help! Millions of Americans are facing stressful tax problems that are hard to address on their own. This firm understands the complexity of the issues and how to interact with the IRS on your behalf. Doing nothing will not make the problem go away! If you owe back taxes, the IRS may soon be sending you a notice to indicate garnishment of wages, your pension, your savings, your property, or even your social security checks.
Now is the time to act. We deal with the IRS so you don't have to.
- Stop Wage Garnishments
- If you have received a wage garnishment notice that the IRS is going to apply a deduction to your paycheck, it means that the IRS can notify your employer that you have a back tax debt. And your employer is then required by law to send a significant portion of each of your paychecks directly to the IRS to offset the debt.
- How to Respond to a Bank Levy
- A levy is a legal seizure of your property to satisfy a tax debt. Levies are different from liens. A lien is a claim used as security for the tax debt, while a levy actually takes the property to satisfy the tax debt.
- Are You Behind on Filing Your Tax Returns?
The IRS has identified taxpayers who fail to file income tax returns and effectively stop paying income tax as a serious threat to tax administration and the American economy. The IRS's role in combating the area of nonfiling is that of outreach, education, and enforcement of the tax laws.
- Did You Receive an Audit Letter From the IRS?
- The first step is not to panic. The IRS uses letters to communicate with taxpayers about IRS audits. As with most IRS communication, there are deadlines associated with IRS audit letters. You will have time to review the items that are being contested and prepare your response. Selecting a return for examination does not always suggest that the taxpayer has either made an error or been dishonest. In fact, some examinations result in a refund to the taxpayer or acceptance of the return without change.
- Reduce Your IRS Debt with an Offer-In-Compromise
- Qualifying for an offer-in-compromise settlement can save you thousands of dollars in taxes, penalties and interest. An offer-in-compromise is an agreement between a taxpayer and the IRS to settle the taxpayer’s tax liabilities for less than the full amount owed. Absent special circumstances, an offer will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through a payment agreement.
- Tax Debt and Innocent Spouses
- Many married taxpayers choose to file a joint tax return because of certain benefits this filing status allows. Both taxpayers are jointly and individually responsible for the tax and any interest or penalty due on the joint return even if they later divorce. This is true even if a divorce decree states that a former spouse will be responsible for any amounts due on previously filed joint returns. One spouse may be held responsible for all the tax due even if all the income was earned by the other spouse.
- IRS Seizures and Steps to Take to Protect Yourself
- A federal tax lien arises when a tax return is filed and the tax isn’t paid after a demand for payment has been made. By law the lien is in favor of the United States and is upon all property and rights to property of the person with the unpaid tax. It gives the IRS the authority to seize any proceeds from sales of real estate owned by a delinquent taxpayer. To protect the government’s right of priority against other parties who are owed money by the same person, the IRS will file a Notice of Federal Tax Lien, which puts other creditors on notice about the IRS’s claim.
- Confronting State Tax Problems
- State tax issues can be even more stressful than dealing with the IRS, since most states are more aggressive in their collection tactics. If you owe the State back taxes or are looking to negotiate a settlement on a state tax debt, this firm specializes in state tax relief.
- Help with Payroll Tax Problems
- If you run a business and pay employees, you will deal with payroll taxes. Social Security, Medicare and income tax withholding from employee wages is just part of normal operations. Failure to file and pay your payroll taxes is a sure way to get in trouble with the IRS. This can lead to large IRS penalties and debt, but may also be considered a federal crime.