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THE TAX ADVANTAGE

What is an Enrolled Agent?

Enrolled Agents (EAs) are America’s Tax Experts. The Enrolled Agent status is the highest credential the IRS awards. An EA is the only federally licensed tax practitioner who has unlimited rights to represent taxpayers before the IRS.

What are the differences between Enrolled Agents and other tax professionals?

EAs are required to demonstrate to the IRS their competence in all areas of taxation, representation, and ethics before they are given unlimited representation rights before IRS. Unlike attorneys and CPAs, who are limited to state licensing and may not choose to specialize in taxes, all EAs specialize in taxation across the nation. As a result, EAs can represent anyone in any state.

How can Mac Reed and Associates resolve my IRS problem?

At Mac Reed and Associates, Inc. all tax representation cases follows a simple three phase process:

  • Investigation of Liability
  • Compliance with the IRS
  • Final Resolution

1

Investigation of Liability

After we are retained by you, our first order of business is to verify your liabilities with the appropriate taxing authorities. In addition, you will provide to us all copies of IRS correspondence, along with any/all tax returns and supporting documentation. We will also perform a financial analysis to determine the best possible negotiation and resolution path to proceed.

2

Compliance with the IRS

Before we can negotiate your case with the IRS, we will take steps to ensure you are in total compliance with the IRS. We will file all missing/late returns, and amend any incorrect returns. This is important because until these returns are filed, the IRS will not even work with on a settlement or payment plan. If your business is need of bookkeeping assistance in order to prepare the return, we will provide the necessary assistance to produce an annual income statement. For our partners with payroll tax debt, we will work to provide payroll assistance to ensure you become current on your payroll tax deposits and quarterly filings.

3

Final Resolution

After you are in compliance with the IRS, we will work on your behalf with the IRS to resolve the tax issue. As a client with Mac Reed and Associates, there are several options we can typically resolve your case. The most common resolutions are an offer in compromise, installment agreement, and/or an uncollectible status. The resolution option chosen will be based upon your current tax and financial analysis, financial/employment situation, and your ability to repay the tax debt.

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