IRS and tax help for Lebanon, Tennessee

Lebanon added 13,015 residents between the Census Bureau’s April 2020 base and its July 2024 estimate, a 33.8% rise and the fastest of the 41 places on this site’s 30-mile list. A business starting in a town growing that quickly has Tennessee filings to get right from its first year.

Tennessee doesn’t tax wages, but an entity subject to the state’s business taxes owes franchise tax at 0.25% of its Tennessee net worth, with a $100 minimum, and excise tax at 6.5% of its Tennessee taxable income. Public Chapter 950 (2024) removed the property measure from franchise tax for years ending on or after January 1, 2024. Tyrone helps small businesses through their start-up phase with an eye on compliant filings, which is what new business formation covers.

A tax lien on Lebanon property is recorded in Lebanon itself, where the Wilson County Register of Deeds at 228 E Main St, Lebanon 37087, takes notices of federal tax lien on real property from all over Wilson County. That’s Tennessee law (Tenn. Code Ann. § 66-21-201), and the Tennessee Department of Revenue records its own lien notices in the same office under § 67-1-1403.

A Lebanon business that collects sales tax charges 9.75%, the 7% state rate plus a 2.75% local rate. If that money isn’t paid over, the department can levy “all property, and rights to property” once the tax is 10 days past notice and demand. A business with employees has payroll deposits on top of that, and the firm handles payroll too.

A Lebanon taxpayer with unfiled years should first find out which years the IRS shows as missing, and know its limits. The IRS’s delinquent-return enforcement generally reaches back no more than six years (Policy Statement 5-133, IRM 1.2.1.6.18), even though the law lets it assess a year with no return at any time (26 U.S.C. § 6501(c)(3)). If the IRS has already filed a Substitute for Return under § 6020(b), that year needs your real return to replace it.

Waiting has a price. The failure-to-file penalty runs 5% a month to a 25% cap, and the failure-to-pay penalty 0.5% a month to 25% (§ 6651). A refund owed for an old year can generally be claimed only within three years of its original due date. The order Tyrone files them in is set out on the unfiled tax returns page.

An Enrolled Agent can speak for a Lebanon taxpayer once a Revenue Officer calls, and Tyrone J. Taylor, EA, does it by phone once Form 2848 is on file. A Revenue Officer is an IRS collection employee assigned to a specific case, and the firm works those cases as well as the ones still held by the Automated Collection System.

The officer will usually want a financial statement, Form 433-A, 433-B or 433-F depending on the case, and Tyrone prepares it with you before it goes in. More on how those cases run is on the Revenue Officer representation page. Meetings at the office on Perimeter Park Drive, about 21 miles from Lebanon, are by appointment.