Our Process

Free Consultation and Financial Analysis

15 Minutes

  1. We will ask you for details on your current tax situation and filing requirements.
  2. We will explain your options.
  3. We will move forward with tax preparation and follow up with any additional information needed. 

You will speak with an enrolled tax professional, not a sales person.

Do I have to decide during the consultation?

No. We will send you the information discussed for your review. You start the process when you are ready.

Is my call confidential?

Yes, all information is private.

4-7 Days

If necessary, using the Power of Attorney, we will complete a Compliance Check with the IRS to determine what liabilities are on your tax account and your filing requirements. This allows our licensed Case Managers to plan a strategy for your resolution.

Varies 0-12 Months

At HM Accounting & Taxation, Inc., we understand that time is of the essence when it comes to tax preparation. That's why we're proud to offer one of the quickest turnaround times in the Coeur d'Alene area, typically completing tax returns within 1-2 weeks. Our streamlined processes and dedicated team ensure that your taxes are prepared accurately and efficiently, allowing you to focus on what matters most. With HM Accounting and Taxation, you can trust that your taxes will be completed promptly, giving you peace of mind and allowing you to plan for the future with confidence.

If you are seeking resolution work, depending on the scope of your case and the resolution, it could take anywhere from 2-12 months. Should we enter you in an Installment Agreement, it could only take a month to two depending on the number of tax return filing needing completion. On the other hand, should we submit and Offer in Compromise to negotiate a settlement, it could take up to a year for the IRS/state to review.

Accrued interest cannot be removed unless a settlement is obtained. Penalties can be abated.

The IRS will apply penalties when a taxpayer is out of compliance. The most common are:

  • Failure to File: If you fail to file your tax return on time, the IRS will impose a penalty of 5% of the original balance owed per month up to a max of 25%.
  • Failure to Pay: If you do not pay the balance owed by the deadline, the IRS will impose a penalty of .5% per month of the original balance up to a maximum of 25%.
  • Estimated Tax Penalty: The IRS will impose a penalty for failure to make sufficient prepayments. A common misunderstanding is that we pay our taxes once a year. However, the system is actually a “pay as you go” system. Failure to make estimated tax payments or withhold from wages is considered delinquent payment and can result in penalties.
  • Accuracy-Related Penalty: If the IRS has reason to believe that a mistake you made on your tax return was negligent or a substantial understatement, they can impose a penalty. The penalty is equal to 20% of the portion of the understatement attributable to the error.