This could be a stressful weekend for a lot of people because it's the last weekend before taxes are due. If you are like many, you might owe a pile of money. But you might be able to save a bunch of money too. Our friends at Levy and Associates Tax Consultants have saved millions of clients over the years. The company's founder, Lawrence Levy, joined us in the studio to tell us how they can help.
The individual filing deadline this year is Tuesday, April 17th - two extra days! Levy says that if you owe taxes, you should always file. He also advises that anyone who owes should consult with a professional for guidance.
There is a program called the Michigan Offer In Compromise, or OIC which can help. If you owe the IRS or Michigan and qualify for the program, you will be able to settle for something less than 100 cents on the dollar. The program applies to both individuals and businesses.
Levy brought in a few real-life examples of instances where the program has saved people thousands of dollars. One person owed $57,000 and with the help of the OIC ended up only owing $1,000 in the end.
If you are facing an audit, owe taxes, or have other questions, you can make an appointment with Levy and Associates Tax Consultants.
You can visit their website http://Levytaxhelp.com or call 800 -TAX -LEVY, that's 800-729-5389.