JLD Tax & Accounting is Jersey City's Leading Expert in Tax Resolution

We understand that dealing with the IRS or New Jersey can be a very time consuming and stressful experience, especially if you're negotiating a payment plan. Our goal is to not only achieve tax debt relief and tax debt settlement at the lowest amount allowed by law, or a payment schedule that least disrupts your economic life, but also to reduce your anxiety and stress by having JLD Tax deal and speak directly with the federal and state income tax agencies. We communicate and meet with them professionally, so you don't have to.

If you call us, we will explain to you the nature of your tax problem and the strategies you can use to resolve it permanently so it no longer threatens your economic life.

You may decide to ask us to resolve your problem for you; to deal with the IRS so you don’t have to – but that will be your decision to make after you clearly understand what we will do to help you, how we will do it and how much it will cost.

Whether or not you hire us, we will still give you a free consultation to frame your tax problem and suggest methods for resolving it permanently. Any and all conversations we have with you are confidential, whether or not we end up working together.

You have nothing to lose. Give us a call to unload some of your worry.

Income Tax Trouble does not solve itself.  With interest and penalties it only gets worse.

Who Should Call JLD Tax?

Taxpayers whose are receiving notices from the IRS; taxpayers whose wages are being garnished or whose bank accounts have been levied, taxpayers that have federal tax liens filed against them; taxpayers with unfiled tax returns; and businesses that owe payroll taxes. Clients compensate JLD on a fixed-fee basis determined up front, scaled to the service components JLD must invoke to properly represent the client before the tax authorities to permanently solve the client's tax problem.

IRS Problems Are More Common Than You Think

1 in 6, or approximately 26 million of 153 million individual taxpayers across the country either disagree over what they owe the IRS or conversely, agree with the amount, but simply can't afford to pay it in full. Of the 26 million individuals with IRS problems, about half owe the IRS $20,000 or more. Until the IRS gets the money, the interest and penalties grow and the IRS becomes ever more intrusive on household finances. If you have tax problems - you are NOT alone.

The IRS Is An Unforgiving Creditor

The IRS is the most powerful collection agency on the planet. The IRS has the power to seize bank accounts, garnish wages and force the immediate sale of homes and other property. The IRS collects tax debt by a variety of extremely intrusive means, and the taxpayer is always playing defense. To collect its money, the IRS will completely disrupt the economic life of a taxpayer, without regard to future consequence for the taxpayer. JLD Tax takes over all IRS communications on your behalf once you become a client.

Stopping the IRS Collection Process

There are procedures taxpayers can use to prevent the seizure of their assets, and if they are eligible, to negotiate the amount they rightfully owe to a discounted rate or to work out a payment plan that the taxpayer can afford so they can stay afloat. But the procedures are arcane, they are not well-publicized – and like anything else, there are competent and incompetent ways to use them.

JLD Tax goes to work immediately to obtain tax relief. JLD takes action to stop IRS levies on bank accounts and IRS seizure of assets. Then the JLD professional will assess the situation and negotiates with the IRS to arrive at a tax debt settlement or payment plan, whatever is the best outcome allowed by law.  

Unfiled Tax Returns

There is nothing more pressing than having unfiled tax returns. The IRS gets more and more sophisticated each year, it's only a matter of time before they catch up to you. This is not a situation that you want to see yourself in. The sooner you get help the better and easier the process will be! 

Let the tax professionals at JLD Tax & Accounting give you peace of mind by helping you get in compliance with the law. If you file your delinquent returns voluntarily you will likely avoid further problems other than having to pay interests and penalties. 

If you wait for the IRS to file your returns you run the risk of not getting all the deductions that you are entitled to. The IRS will file your returns in the best interest of the government. 

All returns must be processed and filed before setting a plan of action. In most cases, after all returns are filed, there will be taxes owed, interest, and penalties from withheld filings. 

Let us help you through this process so that you can lift this weight off your shoulders!  

Offer In Compromise

If you owe more in income taxes than you can afford to repay, you may be able to negotiate your outstanding tax debt using an IRS Offer In Compromise. Let us give you a comprehensive evaluation to determine whether or not you will be a suitable candidate for our Offer In Compromise service. 

A successful offer in compromise satisfies your tax debts for less than your outstanding balance. Not everyone can be considered for an IRS Offer In Compromise. JLD Tax must evaluate your circumstances according to the IRS guidelines, such as, your ability to pay tax debt, current income and living expenses and current value of assets. 

Here at JLD Tax & Accounting we will take all of your information into account and upon reviewing your finances we will make the best recommendations for you and your situation. We will review if you are a suitable candidate and if so we will complete the required paperwork and negotiate with the IRS if necessary. 

Call JLD Tax for a solution today!  

IRS Payment Plan

If you owe money to the IRS you may be eligible to repay your debt over time through an income tax payment plan. JLD Tax can review your information to see if you qualify.

JLD Tax will review your documents to assure that you are in compliance with the IRS, while aggressively representing you. After reviewing your status we will recommend you best course of action, whether it be a payment plan or negotiate a reduced balance. 

 Depending on the amount you owe, you may be required to due a full financial disclosure, which can be very complicated and time consuming.  JLD Tax can walk you through the process and make sure you are doing everything possible to get the best payment plan for you.  

Amended Tax Returns

If you have already filed your tax return, the only way to makes changes to the return is to file an amended tax return. Whether you received a notice from the IRS, an amended W2 or your original return was not filed correctly, amending your return may be necessary. At JLD Tax we will review your return and all your documents and then discuss with you whether or not it's necessary to file an amended return. We will work to make the process as smooth as possible and prepare all the necessary filings.

Payroll Tax Problems

If you own a small business it can be difficult to set up payroll properly without help from an accountant. The best way to set up payroll is by having an accountant set up an efficient system for you. If you are someone who hasn’t set up payroll correctly and are now facing IRS Payroll Tax Problems we at JLD Tax & Accounting can help!

As an employer it is your responsibility to manage taxes for your employees and turn them over to the IRS. Employers must make quarterly tax deposits to the IRs and complete a series of quarterly and annual filings.

The IRS is very aggressive when collecting payroll tax and with come after your assets without hesitation. If you are a business owner facing Payroll Tax Problems call the specialists at JLD Tax & Accounting to help resolve.

The sooner you take action to negotiate with the IRS the better your situation will be when paying back your owed taxes. 

Innocent Spouse Relief

Under IRC section 6015, the Innocent Spouse rule addresses the unfairness in joint tax returns when only one person is responsible for illegal practices.

To ... for Innocent Spouse Relief the IRS will make decisions based on certain factors regarding marital statue, economics, knowledge, legal obligations, significant benefit, compliance and physical and mental health.

If you are in need of assistance regarding Innocent Spouse Relief, contact the professionals at JLD Tax to see what your options are!

IRS Wage Garnishment

Owing the IRS back taxes can be a stressful process to resolve but if the IRS is threatening to levy your assets, you should take action immediately. Wage Garnishments are a specific type of levy in which the IRS will take action to take your wages each week to settle your debts. Understanding the circumstances in which the IRS can go forward in taking a portion of your salary may help you to prepare for the garnishments or allow you to challenge and stop it.

If you have back owed taxes and the IRS has started taking action to garnish your wages contact the professionals at JLD Tax & Accounting. We will work with you to resolve your situation while giving you the best alternative options.  

IRS & NJ Audit Representation

When the IRS decides to audit you, it isn't necessarily a bad thing. The IRS chooses to review your income tax return for accuracy if it believes some or all of your return is incorrect. An audit doesn't mean that any tax laws were broken and it doesn't mean your return is incorrect either. But if you are being audited, it is wise to contact a JLD professional to help guide you through the process. 

When people are being audited they assume that they will need an attorney, but this isn't the case. Attorneys can be pricey but a CPA will suffice. With all of the facts in hand, JLD Tax & Accounting can thoroughly analyze and defend your case. We will navigate you through the process and give you peace of mind!  

What To Expect:

When you come into JLD Tax & Accounting, we will go through your information and come up with the best plan of action. The earlier you hire an accountant the easier it is to defend you during your audit, rather than waiting for the IRS threaten to levy or collect on the tax debt. 

Call Today For Tax Help

IRS Liens

If you have an unsettled debt with the IRS and are worried about IRS Tax Liens the best option is to contact the IRS about settling your debt before they contact you. An IRS Lien is the government’s legal claim against your property when you fail to settle your tax debt. The IRS will assess your liability and then send you a Notice and Demand for payment.

If you neglect or fail to pay your debt in time the IRS will then start the process of filing a Notice of Federal Tax Lien. This notifies creditors that the IRS has a legal right to your property.

If you received a Notice of Demand for Payment from the IRS don’t waste time, contact JLD Tax & Accounting Today! Let us help you with resolve this situation and negotiate an arrangement with the IRS. 

IRS Levies

Having a debt with the IRS can weigh heavy on you, but once the IRS decides to take action against you the situation can be difficult to maneuver alone. The IRS is serious about collecting taxpayer’s debts. An IRS Levy permits the seizure of your property to satisfy your tax debt. The IRS can take your house, car, savings, salary and even your Social Security checks. 

The IRS will issue a levy after these three requirements are met:

• The IRS will assessed the tax and sent you a Notice and Demand for Payment

• You neglect or refuse to pay your taxes

• The IRS will send you a Final Notice of Intent to Levy and a Notice of Your Right to A Hearing, 30 days before the levy.

The only way to avoid a levy is by paying your taxes and settling your debt with the IRS, but if the IRS has sent you a Notice of Intent to Levy you must take action immediately.

If you are unsure of where to begin then you should contact JLD Tax & Accounting today to begin the process of reversing the IRS Levy. Let us work with you to help you understand your situation and provide you with the best option. 

NY Schedule C Audits

Businesses that operate as a sole proprietorship or as a single-member limited liability company need to file a Schedule C on their individual income tax return. This schedule shows the revenue and deductions for your business for the year while calculating its net taxable income. When filing a Schedule C for your taxes it is best to be prepared for the possibility of an audit. The experienced professionals at JLD Tax & Accounting will work with you so you can better understand and learn about the auditing process.  

WHAT IS A SCHEDULE C AUDIT?

The IRS or NY State will perform a Schedule C audit if they suspect a discrepancy on a business owner’s tax return. If the IRS requests for a Schedule C audit you will then be require to hand over all your bank and credit card statements, receipts and explanations of all travel and entertainment expenses. It is important to keep any and all documents that pertain to your tax returns for a least three prior years so that you can clearly verify what you claimed on the return. 

Schedule C audits have become more common. The IRS and NY State are finding that many profit and loss statements do not reflect the actual business done by a company. The common culprit for a Schedule C audit is the co-mingling of personal and business spending. If your expenses are properly categorized and you have retained all receipts of your transactions, you can navigate the Schedule C audit without hassle. 

WHO DOES A SCHEDULE C AUDIT APPLY TO?

If you are the owner of the business you will be the only person responsible of the Schedule C audit. The IRS takes an interest in businesses that show significant loss on a Schedule C filing. if your business shows a loss for 2 years in a row the IRS or NY State will most likely audit. The IRS will audit to be sure that the business is trying to make a profit.

HOW CAN I AVOID A SCHEDULE C AUDIT OF MY TAX RETURN?

If you’re a business owner and you file a Schedule C it is important to be truthful about your income and expenses. It is important to keep your finances in order but most specifically, keeping your individual and business expenses separate. Even when owning multiple businesses, it’s best to keep your income and deductions separate by entity.