James Grennen is a Certified Tax Resolution Specialist who is an expert in solving IRS tax problems and New York State tax problems. He has decades of financial tax experience in addition to being a U.S. Department of the Treasury certified Enrolled Agent. His work focuses on helping businesses, individuals, and couples experiencing tax difficulties.
Mr. Grennen brings a high level of expertise while offering substantial savings by utilizing tax attorneys and other specialists only when needed. IRS Enrolled Agents go through extensive specialized training for a deep professional understanding of the U.S. tax code. Typically, an Enrolled Agent is equipped to give some of the most informed opinion in the industry.
Many people think they need an attorney to handle their tax problems. Normally an attorney is only needed on some aspects of the minority of cases. Clients save a lot of money and often get a better outcome when U.S. Treasury certified Enrolled Agents handle their case, bringing in an attorney or other specialists only when needed, Grennen said.
James Grennen also holds an MBA from Rutgers University Graduate School of Business and is a Certified Financial Planner.
Grennen started out as an advertising copywriter, then held an editorial position with the New York Daily News before entering banking and finance. “One thing reporters do is follow the money. That is usually where the story goes and it explains how and why things happen. It was only natural that I developed a strong interest in finance,” Grennen said.
For 16 years Mr. Grennen was a financial advisor with Prudential Securities. He worked with many high net worth clients in the areas of Income Allocation, Risk Management, Tax Planning, Retirement Planning and Estate Planning.
Then in 1998 James Grennen founded Grennen Financial Inc. in Bohemia, New York. That company would ultimately become Long Island Tax Resolution Services. “People get into tax jams and we help get them out,” Grennen said. The company’s tax experts study each client’s case and propose proven strategies for bringing the client a positive outcome.
“Many of the national tax firms use a one-size-fits-all approach. They sometimes charge the client then do little or nothing to help them. Long Island Tax Resolution Services takes the opposite approach. We work directly with clients to get a deep understanding of their tax problem. We also work with the IRS or New York State tax department to get a true and complete picture of the client’s tax problem,” Grennen said.
Long Island Tax Resolution Services draws from a very wide array of specialists, tapping them on an as needed basis to solve a tax problem. Mr. Grennen works with a network of attorneys, CPAs, real estate professionals, financial advisors, credit counselors and others. This gives clients a much broader access to specialized help than any single tax expert, attorney, or accountant can provide on his or her own.
Grennen warns clients that many firms provide tax resolution as an add-on to their main business focus. “All we do is tax resolution. That’s 100 percent of our day. So we bring a very high level of specialized experience, expertise, and certification to the table.”
Grennen’s firm uses a client-centered and financial-based approach to giving client’s effective tax relief. They reduce the client’s stress by providing answers, following procedures and filing paperwork in accordance with deadlines. “In tax problem cases, just knowing what facts are needed, what papers to file, and when to file them can be a huge source of stress for a client. We take care of all that so our client doesn’t need to be worried and can get back to living their life or running their business,” Grennen said.
If a client is already working with tax advisors, Long Island Tax Resolution Services can also work with those advisors to bring additional expertise, investigation, or strategy needed for a favorable outcome.
And what happens when the IRS doesn’t rule in the client’s favor? “We adjust our strategy and make another attempt at a solution our client will be happy with. In the end the vast majority of our clients are thrilled with our work. It’s just what they need in trying times,” Grennen said.
Grennen’s firm also has developed its’ own proprietary software to assimilate very detailed information regarding a client’s tax history that it uses to discover potential solutions. For example, a report can be generated to carefully measure potential for bankruptcy to be part of the client’s tax resolution program.
James Grennen is a member of the American Society of Tax Problem Solvers (ASTPS), National Association of Enrolled Agents (NAEA), New York State Society of Enrolled Agents (NYSSEA), and National Association of Tax Professionals (NATP).