Many taxpayers are under the assumption that if they file for bankruptcy, this will clear them of every single debt they owe.
That’s not exactly true.
Now when you file for bankruptcy, it does temporarily stop the Internal Revenue Service (IRS) from collecting any tax debts. How long they stay away actually depends on what type of tax debt you have and which chapter of bankruptcy you’re filing for. All of this will have a direct affect on how your tax debt situation is handled.
No One Said Bankruptcy Would Be Easy
When it comes to tax matters, there’s really no easy way of explaining how things will work because each case is dealt with on an individual basis according to the taxpayer’s financial situation. That’s why it’s recommended to get some professional assistance in these matters because, let’s be honest, if you knew how the tax debt system actually worked, chances are you wouldn’t be in the situation you’re currently in. On the other hand, there are some professionals who may know exactly how everything works and still find themselves in a mess of debt due to sheer neglect.
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Advance Tax Relief, a tax relief firm with two offices in Houston, Texas and Los Angeles, California, has been in the business of helping people out of the tax debt for over 25 years.
Throughout this time, we have come across a wide range of tax debt cases that have given us the experience and expertise to alleviate any tax issues that you have big or small.
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If you are the subject of a tax audit and have recently received a letter from the Internal Revenue Service (IRS), you may likely respond like most Americans, with some element of fear and dread.
The fact is, the audit rate is fairly low (around 1%) if you make below $200,000 a year, but for those Americans who are the subject to an audit, the stress can be very high and you may have questions about what immediate steps you should take to respond. While getting a letter from the IRS is never what you want to find in your mailbox, it does not have to spell disaster.
Here are 5 steps to follow if you have received written correspondence from the IRS:
Do not panic: In the vast majority of audits, the IRS has a simple question about an aspect of your tax return. Remember that audits take a lot of resources for the IRS to complete, so it is in their best interest to keep the process and the outcome as simple as possible. In the majority of cases, information needs to be provided and verified. Once you send in the information (or money), the audit is complete. A correspondence audit is the more common type of audit and can be handled entirely in writing.
Verify the audit is real: The IRS will not call you or email you to inform you of an audit, this information will only come in writing, in the mail. The IRS will also not ask you to provide personal information and will not demand that you pay in a certain way. Be on the lookout for fraudulent correspondence claiming that they are the IRS.
Carefully read, review, and respond to the letter: Most audits can be resolved fairly easily as noted above, but the key is to respond as directed by the IRS in a timely manner. Ignoring the request will not make it go away. If you do not understand what is being asked of you, seek the help of a professional tax service or attorney to give you advice about how best to respond.
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Fitness club chains, sauna complexes, hotels and conference centres, SPA centres, aqua-parks and cruise ships; wherever it is installed, a Russian banya will instantly adopt its deserved role as the main attraction, being transformed into a magnet for consumer traffic. A traditional classic sauna is not only an excellent direct income source, it also stimulates revenue from other areas.
Profit is revenue minus costs. Fixed costs represent the format and standard of the outlet premises. When fixed costs are carelessly reduced overall service quality is affected. Customers sense the change and traffic levels may fall. In short, it turns out more expensive in the long run. To increase profits with a Russian banya we recommend focusing on increasing revenue, rather than decreasing fixed costs.
Revenue is derived from traffic levels and the average cash receipt. The average receipt depends on the number of purchases made and their individual price. Price is determined by the format and level of the service provided and the quantity of purchases made is determined by the range of additional services offered and the quality of visual advertising for the commercial sauna interior.
Traffic can be increased either through advertising or through the business' regular customers. If the sauna stove is mediocre, the customers will not return. It is as simple as that. Anyone that orders a mediocre sauna stove is doomed to pay for all their traffic with advertising campaigns. But if you order a real sauna stove, you will make a profit.
The key commercial value of a Russian banya is something that is so valued by any business - the ability to create its own regular client base. Visiting a Russian banya quickly becomes a habit but only on one condition: the sauna has a traditional, authentic stove and the famous light steam. On average, a regular banya user will visit the banya 15.1 times a year. The 'grape vine', advertising by word of mouth, will work its magic and customers wi
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