Running a small business in Roanoke is no small thing.
You’re managing employees, chasing invoices, keeping customers happy, and trying to actually grow, all at the same time. Taxes are somewhere on the list, but they rarely feel urgent until they suddenly, urgently are.
That’s the part most business owners don’t see coming. The IRS notice that arrives when cash flow is already tight. The payroll tax balance that quietly snowballed over two quarters. The realization that the business has been operating without any real financial strategy, just reaction, year after year.
What changes the outcome in situations like these isn’t luck. It’s having the right professional in your corner before things get to a breaking point. For small businesses in Roanoke and across Virginia, that means understanding two services that often go hand in hand: Fractional CFO advisory and tax resolution.
At Tax Resolution Accounting, we’ve been working with small business owners since 2016. We’re based in Lynchburg and serve clients throughout Virginia, including Roanoke. Our team includes IRS Enrolled Agents, federally licensed professionals who are authorized to represent taxpayers before the IRS in all matters, alongside CFO advisory services that give growing businesses the financial leadership they need without the full-time cost. Here’s everything you need to know about both.
WONDERING IF YOUR BUSINESS NEEDS A CFO OR TAX RESOLUTION HELP?
You don’t have to figure it out alone. Our Roanoke-area team offers a free consultation where we look at your full financial picture, past, present, and future, and tell you honestly what we see. No pressure. No generic advice.
Schedule your free consultation with Tax Resolution Accounting
What Is a Fractional CFO, and Does Your Roanoke Business Actually Need One?
Most small business owners know they need a bookkeeper and a CPA. What they’re less clear on is what a CFO does, and whether it’s something only big companies can afford.
A Fractional CFO is a part-time financial executive. They give your business high-level strategic leadership on cash flow, budgeting, forecasting, and profitability, without the six-figure salary that comes with hiring one full time. For small and mid-sized businesses, it’s one of the most efficient investments available.
Here’s the practical difference between the three financial roles most business owners interact with:
A bookkeeper records what already happened. A CPA files your returns and keeps you compliant. A Fractional CFO looks forward, helping you understand where your money is going, where it should be going, and how to get there.
If you’ve ever found yourself thinking “I don’t know where my money is going” or “our cash flow feels unpredictable and I don’t know why,” you’re describing a Fractional CFO problem. Not a bookkeeping problem. Not even a tax problem. A strategy problem.
For Roanoke small businesses specifically, whether you’re in construction, healthcare, professional services, or retail, the complexity of managing a growing operation without financial leadership creates real risk. Pricing decisions get made on instinct. Cash flow crises catch owners off guard. Opportunities get missed because there’s no data-driven plan to evaluate them against.
A Fractional CFO changes that. They help you see your business clearly, plan with confidence, and make decisions that actually move the needle.
What Is Tax Resolution, and When Does a Small Business Need It?
Tax resolution is the process of addressing IRS problems, back taxes, unfiled returns, audits, penalties, wage garnishments, or bank levies, and negotiating relief through the programs the IRS has available.
It’s not the same as tax preparation. It’s not the same as standard accounting. It’s a specialized area that requires specific credentials and specific experience, because the IRS doesn’t operate the way most people expect it to.
For small business owners in Roanoke, the most common tax resolution situations fall into a few categories.
Unfiled business returns. When a business gets behind on filing, the IRS doesn’t simply wait. It can create Substitute for Returns using only the income information it has on file, with none of the deductions, business expenses, or credits the owner would have claimed. The resulting balance is almost always higher than the actual liability, and the business can’t access most resolution programs until all returns are filed.
Payroll tax debt. This is the category that catches the most business owners off guard. Payroll taxes, the amounts withheld from employee paychecks and owed to the IRS, are treated with a particular intensity by the agency. The reason is straightforward: the IRS views that money as never having belonged to the business. When a business falls behind on payroll tax deposits, the IRS can assert the Trust Fund Recovery Penalty, which holds individual owners and officers personally liable for the unpaid withholding portion. This means the debt can follow you personally, even if the business closes. It can attach to your personal assets and wages. Payroll tax problems are not a “we’ll deal with it later” situation.
IRS collection actions. If the IRS has already moved beyond notices, if you’ve received a Final Notice of Intent to Levy, or if your wages have already been garnished or your account levied, the situation is urgent. A 30-day window exists from the Final Notice date to request a Collection Due Process hearing, which temporarily halts the levy and opens the door to negotiating a resolution. A tax resolution specialist can file that request, halt the collection action, and work toward an installment agreement, Offer in Compromise, or Currently Not Collectible status, depending on what the financial picture supports.
Complex audits. Not every audit is a form letter. When a field audit involves multiple years, self-employment income, significant business deductions, or rental properties, professional representation isn’t optional. An IRS Enrolled Agent can communicate directly with the auditor on your behalf, review your records in advance to address vulnerabilities, and keep the examination from expanding beyond its original scope.
HOW BEHIND ON TAXES IS YOUR BUSINESS? LET’S FIND OUT TOGETHER.
Whether it’s one year of unfiled returns or a payroll tax balance that’s been growing for two years, the situation is almost always more fixable than it feels. Our team has helped Roanoke-area business owners get current with the IRS and negotiate real, lasting relief.
Talk to a tax resolution professional at Tax Resolution Accounting →
How CFO Services and Tax Resolution Work Together
Here’s something most business owners don’t realize: the two services aren’t separate tracks. They feed each other.
Tax problems in small businesses rarely come from bad intentions. They come from disorganization, cash flow gaps, and the absence of forward-looking financial planning. A business that’s perpetually scrambling to cover payroll is also a business that might miss a payroll tax deposit. A business operating without a budget or forecast is also a business that’s vulnerable to a tax bill it didn’t plan for.
When Tax Resolution Accounting works with a small business in crisis, we don’t just resolve the immediate IRS problem and walk away. We look at the systems that allowed the problem to develop, and we help fix those too. That’s where CFO advisory becomes part of the resolution story, not a separate service for when things are going well.
On the flip side, businesses that engage Fractional CFO services proactively are far less likely to find themselves in tax resolution territory. A CFO who’s actively monitoring cash flow, reviewing financial reports monthly, and helping leadership make decisions with real data is also a CFO who spots a tax problem before it becomes a collection action.
The combination isn’t a luxury. For a growing small business in Roanoke, it’s how you protect what you’ve built.
Why Small Businesses in Roanoke Choose Tax Resolution Accounting
There’s no shortage of options when it comes to financial and tax services — and there’s also no shortage of firms that overpromise. The tax resolution space in particular has a documented history of companies advertising dramatic results, collecting large upfront fees, and delivering very little. It’s one of the reasons people hesitate to reach out at all, even when they clearly need help.
Working with a local, credentialed firm is different. You’re working with people who are accountable to the same region they serve. You can get a real person on the phone. When something changes in your case, someone who knows your situation is the one who calls you back.
Tax Resolution Accounting was founded by Jeremy Lassiter, an IRS Enrolled Agent, NTPI Fellow, Certified Tax Coach, and Liberty University graduate with a BS in Finance. An NTPI Fellow designation reflects advanced specialization in tax representation — it’s the kind of credential that signals someone who has gone well beyond the basics of tax preparation and into the specific, complex work of IRS negotiation and resolution.
Jeremy and his team operate on a consistent standard: honest assessments, realistic expectations, and a genuine focus on getting the best possible outcome for each individual client. Not a template. Not a form letter. An actual plan built around your actual numbers.
Services start at $500 for tax resolution, $1,500 for Fractional CFO services, and $200 per month for bookkeeping. Flexible financing is available through trusted lenders for clients who need it. In most cases, the cost of professional help is a fraction of what accumulates in penalties and interest when the problem goes unaddressed.
We’re located at 500 Stuart St, Lynchburg, VA 24501, and we serve clients throughout Virginia, including the Roanoke area. You can also reach us by phone at +1 434-338-7149.
Quick Reference: What Each Service Covers
Fractional CFO Services: Cash flow planning and management, budgeting and financial forecasting, profitability analysis, strategic business decisions, KPI tracking, and pricing strategy. Best for growing businesses that need financial leadership without a full-time hire.
Tax Resolution Services: Unfiled return preparation, installment agreement negotiation, Offer in Compromise applications, payroll tax resolution and Trust Fund Recovery Penalty defense, wage garnishment and bank levy releases, Collection Due Process hearings, audit representation and appeals. Best for individuals and businesses facing active IRS problems.
Tax Planning: Proactive strategies to minimize your tax liability year-round. Best for business owners who want to stop overpaying and start planning ahead.
Tax Preparation: Accurate, compliant filing for individuals and businesses. Best for anyone who wants their returns done right.
Bookkeeping: Clean, organized records that support everything else. Best for businesses that need reliable financial data month to month.
READY TO BUILD A STRONGER FINANCIAL FOUNDATION FOR YOUR ROANOKE BUSINESS?
Whether you need to resolve an IRS problem today or build the kind of financial strategy that prevents one tomorrow, our team is ready to help. We’ll review your situation, tell you exactly what we see, and build a plan that fits your real financial picture.
Book your consultation with Tax Resolution Accounting
Frequently Asked Questions
What’s the difference between a Fractional CFO and a CPA?
A CPA prepares and files tax returns and ensures compliance with tax law. A Fractional CFO focuses on forward-looking financial strategy, cash flow, budgeting, forecasting, and business growth. The two roles complement each other, but they serve different functions. At Tax Resolution Accounting, our team is equipped to support both.
Can a small business in Roanoke really afford Fractional CFO services?
Fractional CFO services are specifically designed to be accessible for small and growing businesses. Our services start at $1,500, and the ROI comes from better decisions, improved cash flow, and the ability to avoid costly financial mistakes. For most small businesses, the cost is significantly less than a single bad financial decision made without proper guidance.
What if my business owes both the IRS and the Virginia Department of Taxation?
Both debts can be resolved, but they require separate processes. The IRS and the Virginia Department of Taxation operate independently, with their own programs, timelines, and enforcement tools. We help clients manage both simultaneously so that nothing falls through the cracks.
How quickly can tax resolution begin?
In most cases, we begin the resolution process immediately after your initial consultation. The sooner you engage, the faster we can stop penalties from accumulating and protect your income and assets from collection actions.
What should I bring to my first consultation?
Any IRS or state tax notices you’ve received, your most recent filed tax returns, a general picture of your income and major business assets, and any prior IRS correspondence. You don’t need to have everything organized before you call, we’ll help you figure out what’s needed as we go.
Do you offer payment plans for your services?
Yes. We work with trusted lenders to offer flexible financing options for clients who need them. Getting help shouldn’t be out of reach because of the upfront cost.
