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New Year, New Resolutions

Dec 27, 2022

It’s that time of year when everyone is reflecting on what habits they would like to focus on and what changes they would like to make. If you owe a tax debt, resolving it is probably high on your priority list. The debt could be weighing heavily on your mind and could be getting in the way of you achieving some of the financial, professional, and personal goals that you have for yourself.

This is a fantastic time of year to get Golden Lion Tax Solutions involved. Our process is designed to be goal-oriented by considering the short- and long-term goals that our clients have above and beyond resolving their tax debt. By understanding what you’re hoping to achieve for yourself personally and professionally, we can tailor our resolution strategy to you specifically while keeping these goals in mind. For example, on paper, you might qualify for a small payment plan with the IRS: but if by speaking with you and getting to know you, we find out that you plan to get married next year, that might change both your options, as well as our recommended gameplan.

With that in mind, below, I’ve listed examples of personal factors that could impact the resolution options that are available to you and what may be best for your specific situation:

  • Change in marital status
  • Adding or subtracting dependents from your household
  • Paying for a child’s college education
  • Looming medical bills
  • Planned retirement
  • Changing jobs
  • Starting/closing a business
  • Moving
  • Plans to change your business structure
  • Becoming eligible for Social Security Benefits
  • Receipt of inheritance or other lump sum payment
  • Plans to scale your business up or down

These are just some of the personal and business factors that someone who doesn’t take the time to get to know you could miss, which could lead them to negotiate a resolution that either isn’t in your best interest or that you don’t qualify for in the long term. At Golden Lion, we prioritize getting to know you above and beyond just what your situation looks like on paper for precisely this reason. We want to ensure we’re considering all relevant factors and setting you up for success!

With that said, let me tell you a little about how our process works. Our process begins with an initial phone consultation. This allows you to tell us a bit about your situation and facilitates us getting to know each other. It’s essential that you feel comfortable with us and that we both feel like we could work well together. We also want to make sure that you feel like a tax professional is the best person to help you at this time. If we feel like you may benefit more from another type of professional service or that your problem could be easily solved without the help of a professional, we will always let you know. At the end of this initial call, if we both choose to move forward, we will proceed to the Investigation phase.

During the Investigation phase, we will first secure a Power of Attorney form for the IRS and/or State taxing authorities. This form will allow us to contact the taxing authorities on your behalf and conduct research on your account(s). It will also allow us to determine what stage of the collection process your case is in and request a hold of collection action threats such as bank account or accounts receivable levies to keep you protected while we complete our investigation. The second part of our investigation will be to speak with you about your current financial condition, your hopes for resolving the debt, and your short-term and long-term goals.

At the conclusion of our investigation, we will compile our findings into a formal report which will be presented to you during a conference call. This report will fully disclose the information we secured from the tax agencies you are concerned with, along with a summary of the best resolution options available given your financial condition and short- and long-term goals. We will discuss each option in detail, including the pros and cons of each option, and how each may coincide or conflict with the goals you outlined for us. At the end of this conversation, you will have enough information about your tax accounts and the options available to make a sound and well-informed decision about which resolution option will suit your needs and best interests. At that point, we will proceed with our Representation Phase, and a Professional Services Agreement will be committed to by our office and you as our client.

Once you have the investigation report, If you decide not to take action on your tax debt immediately, the report is yours to keep for future consideration. Though please keep in mind that variables may shift the longer you wait to employ the resolutions identified, and the resolution options may no longer apply to your financial condition or short and long-term goals.

As you can see, at Golden Lion Tax Solutions, we emphasize doing what’s right for our clients, not just what may appear to be right by plugging numbers into a formula. We know that at the end of the day, your tax debt impacts multiple areas of your life, and we want to consider all factors applicable when we represent you. We cater our 941 tax debt solutions, 1040 tax debt solutions, sales tax debt solutions, and all other resolution packages to our client’s individual needs.

If you are struggling with tax debt and aren’t sure where to turn, I urge you to call us. Let’s start the New Year by finally conquering the tax problem on your mind!


Trust. Protection. Wisdom.

Your future and your family deserve the right protection. Golden Lion Tax Solutions will be your advisor and confidant throughout the entire journey. We guarantee to offer you or your business best-case solutions for your tax debt. We are by your side every step of the way. Start now and get your life back.

For help with your tax debts, email contactus@goldenliontaxsolutions.com or call 833-LION-TAX (833-546-6829)

Disclaimer: There are requirements that must be satisfied in order to qualify for some of the tax solutions we discuss on our website. Not all of our services will be suitable for every client. Golden Lion Tax Solutions is here to help you find the most appropriate solution to fit your situation.