IRS Resolution and Tax Preparation Specialists
Full Service Accounting Firm serving Nashville and Chattanooga
Tax Accounting Services for Businesses and Individuals
We are offering Tax Reform Impact Summaries for all Individuals and Businesses. This personalized report shows the impacts of tax cuts and jobs act if it was in place this year. Bring your tax information by the office or schedule a consultation to see how will the new tax law affect your income next year.
Stephen Wallick & Associates serves Contractors, Real Estate Investors, and Realtors as well as individuals and businesses.
Analyzing your business and your unique financial structure, we provide full-service accounting including Tax Preparation, IRS Issue resolution, Small Business Services, Payroll Services, and Tax Planning. We provide these services to businesses and individuals throughout the United States.
At Stephen Wallick and Associates we enjoy building a personal relationship with our clients. We believe that we can better serve you and more effectively resolve your issues if we get to know you and your situation. Call today to discuss your accounting needs.
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Tax Tips
Expert Tax Advice for Business Owners from Stephen Wallick & Associates
New Branch of Stephen Wallick & Associates in Chattanooga, TN
Preparing for filing your 2022 Tax Return Soon businesses and individuals everywhere will be turning their attention to filing 2022 taxes. As an individual or business owner in Tennessee, it's important that you get organized early in order to ensure your filings are in order and on time. Preparing ahead of time can help you minimize stress surrounding tax season, as well as make sure that no deadlines are missed – or worse, that penalties for late payments or incomplete documents aren’t incurred. Benefits of Filing Taxes Early Filing your taxes early can be beneficial for many reasons but most importantly it gives you more time to review your return and double-check everything before submitting it. Additionally, filing sooner rather than later may provide an opportunity for faster refunds if applicable or could give you access to other incentives or benefits depending on the type of deductions or credits taken during the year. Ultimately though, no matter when you decide to file just be sure that it is done by a professional so that there are no issues down the road! Here we’ll look at nine ways to start preparing for 2022 taxes now so you can relax come April 15th!
Your credit score after unpaid taxes Even after you have paid the IRS, your credit record is still damaged to the point that everything except cash purchases costs you more. Believe it or not, Federal Tax Liens show on your credit record even after they are released. This means they still hurt your credit score It’s true that they will issue a release that you can have posted to the credit record that shows the tax has been paid, but because you have had a lien in the past your credit score is much lower than it should be. There is another procedure that can even remove all references to the lien from your credit report once we have satisfied the outstanding tax liability. Credit scores usually improve dramatically. Many taxpayers have been able to have IRS reduce the penalties. For taxpayers who don’t file an Offer In Compromise – We can help with a request to the IRS to Abate the IRS penalties for “Reasonable Cause.” This can be as simple as explaining to the IRS that your basement flooded. It’s a great way to drastically reduce the total amount you owe the IRS. Many taxpayers use our firm to keep the IRS away from them and their families. Most of our clients never meet or speak with the IRS. We make the IRS call us, so our clients can go to work and carry on a normal life. If you are looking for a solution to your tax problems and want to get your life back, contact your Middle Tennessee tax resolution experts . We specializes in ending the misery that comes along with your IRS problems.