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We prepare most type of tax returns:

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S Corporation.

C Corporation.

Partnership.

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Amended.

Gary Bode, CPA is a Master's Degreed, nation wide accountant offering tax and business services. Member of AICPA and NCACPA. Our virtual office provides excellent service to long distance and international clients. Call (910) 399-2705 for a free phone consult.

Client Testimonials

I used Gary’s services to file my 2012 income tax return. This was my first year having an accountant do my return, as I have always done it myself using TurboTax. However, this year I had cancelled debt from my old primary residence which I was forced to convert to a rental property after relocating out of state.

While it didn’t cost me anything to do the short sale, the income tax consequence from the cancelled debt, roughly $50,000 in my case, was enough to move me from the 15% tax bracket to the 25% tax bracket.  Needless to say, I was concerned about that.

Finances were already tight and my husband and I are expecting our first child this fall. So the possibility of owing income tax was stressing me out. However, Gary was great at relieving my fears.

He is extremely knowledgeable, answered all my questions and was very thorough. I knew I was in good hands. He kept in constant contact with me throughout the process, keeping me updated on the progress of my return and letting me know what paperwork he needed to complete my filing.

In my mind, best case scenario would have been to not owe any taxes. Second best would be to only owe a little. Well, you can imagine my surprise and delight when Gary told me I was actually due a refund of a little over $2,700.00!

To top it all off, I found Gary’s fee for service to be fair, competitive and affordable; especially given the complexity of this type of return. I am so glad I did not try and go it alone this year. I am extremely pleased with Gary’s service and would recommend him highly to anyone, in fact I already have. If you have cancelled debt from a short sale or foreclosure, don’t freak out. Take a deep breath and call or email Gary. I am grateful I did.

Angie Falke of Holiday, FL

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Even though Gary enjoys helping colleagues, we no longer provide free consults to other tax preparers. He's happy to consult on an hourly billing basis if our schedule allows.

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Tax Lien CPA discusses Form 668(Y), Form 12277 and Form 10916(c) | tax lien release and withdrawal

Tax lien CPA Wilmington NC discusses IRS Form 12277 and Form 10916(c), tax lien release and withdrawal

Gary Bode, CPA: moves are still available, even in the end game of IRS collections. For a free phone consult call (910) 399-2705.

If you received Form 668(Y), you probably didn’t have a tax lien CPA. And the IRS is probably  demanding too much tax. There are still some moves left during the end game of IRS collections and you should consider seeking a tax lien CPA now. We’ll discuss how to get the IRS to release and withdraw the tax lien, along with important factors to consider during the process.

  • You apply to have the lien released through Form 12277.
  • The IRS then issues Form 10916(c).
  • You present Form 10916(c) to the three credit reporting agencies.

Form 12277, Application for Withdrawal of Filed Form 668(Y), Notice of Federal Tax Lien.

You request the IRS to release the tax lien through Form 12277. Tax liens kill your credit because the country’s strongest creditor makes it a public record. Plus they’re about to seize your assets or garnish your paycheck. The IRS gets preference over all other creditors. Here’s how a tax lien CPA might approach the process.

  • Let’s say you engaged me after the tax lien is in place. The first thing I’d do is ask the IRS and State for more time. If you haven’t had a tax lien CPA working the case, the IRS usually grants more time to prepare your case.
  • If you let the IRS prepare “substitute returns”, the amount of back tax they’re demanding is too high. I can’t remember a case where preparing correct returns didn’t reduce the amount of the demand. It may be hard to believe, but preparing those returns can result in a refund. Yes, you read that right.

The rest of the reasons the IRS would approve your Form 12277 assume they are demanding the correct amount.

  • Will they settle for less? In 2012 the IRS streamlined the infamous Offer in Compromise process. This pennies on the dollar technique got abused in the last century and public outcry resulted in stricter qualifications. But the recession prompted them to relax the standards in 2012. Generally an Offer in Compromise deserves CPA help, especially if a tax lien is in place. Once the Offer in Compromise is accepted, you can file Form 12277.
  • A study a few years ago showed the IRS violated its own guidelines during the tax lien process with 32,000+ taxpayers. You’d need a tax lien CPA to see if that happened to you. If it did, they have to issue Form 10916(c). But the IRS has experience here and removing the lien probably just buys time to come up with another solution.
  • If the IRS accepts an Installment Agreement (Form 9465), the IRS will issue Form 10916(c) after they see some period of compliance.
  • Sometimes a CPA can make a point that the tax lien actually decreases the IRS chances of collection. Then we file Form 12277.

I’m a tax lien CPA with a virtual office to help clients who aren’t lucky enough to live in Wilmington NC (wink). There are a dozens of articles on various aspects of tax liens, back taxes, and IRS collections. If you don’t have a local tax lien CPA, or just like what you read, consider calling me for a free phones consult at (910) 399-2705.

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