by Fresh Start Tax | Mar 28, 2013 | Tax Lawyer
IRS Seizure of Bank & Wages -IRS Levy Help – Attorneys, Lawyers, Form IRS 1-866-700-1040
Do not let the IRS seize your bank account or your hard earned wages.
Call us today and we can get you immediate IRS levy help and get your funds back in your hands.
We are comprised of tax attorneys, tax lawyers and former IRS agents and managers who have over 205 years of total tax experience to help you not only get your money back but to settle your tax case.
What does IRS Levy?
IRS levies bank accounts and wages because taxpayers do not respond to the IRS notices and the letters that are sent to last known addresses.
Many times taxpayers never received the last notice because they’ve moved or mail hasn’t been forwarded.
As a result , the IRS systematically sends levy’s out with the help of the CADE 2 enforcement computer to the last known employer and last known bank account information that they have on you in their IRS system.
Simply by giving IRS a current financial statement along with documentation and letting them know an exit plan on your case, IRS will systemically remove any IRS levies on bank accounts or wages. IRS will require a form 433-F to be used as the main tool to make determinations on how levy’s will be released. That form is the IRS financial statement. You can find this form on our website.
If you have any questions contact us today and see how easy this process of getting a release of bank account levies or wage garnishment levies.
What is a IRS Tax Levy
A levy is a legal seizure of your property to satisfy a tax debt.
IRS Tax Levies are different from liens.
A lien is a claim used as security for the tax debt, while a levy actually takes the property or seizes the property to satisfy the IRS tax debt.
If you do not pay your taxes the IRS may seize and sell any type of real or personal property that you own or have an interest in.
IRS could seize and sell property that you hold or could levy property that is yours but is held by someone else (such as your wages, retirement accounts, dividends, bank accounts, licenses, rental income, accounts receivables, the cash loan value of your life insurance, or commissions).
IRS can only levy if:
IRS usually levy’s only after these three requirements are met:
1. The IRS assessed the tax and sent you a Notice and Demand for Payment;
2. You neglected or refused to pay the tax; and
3. The IRS sent you a Final Notice of Intent to Levy and Notice of Your Right to A Hearing (levy notice) at least 30 days before the levy.
Delivery Methods of Final Notices
IRS may give you this notice in person, leave it at your home or your usual place of business, or send it to your last known address by certified or registered mail, return receipt requested.
If the IRS determines the levy is creating an immediate economic hardship the levy may be released.
A levy release does not mean you are exempt from paying the balance.
The IRS will work with you to establish payment plans or take other steps to help you pay off the balance.
To help ensure quick action, please have the fax number available for the bank or employer office that is processing the levy.
You may ask an IRS manager to review your case, or you may request a Collection Due Process hearing with the Office of Appeals by filing a request for a Collection Due Process hearing with the IRS office listed on your notice. You must file your request within 30 days of the date on your notice.
IRS Seizure of Bank & Wages -IRS Levy Help – Attorney, Lawyers, Former IRS
by Fresh Start Tax | Mar 27, 2013 | FBAR
FBAR, Foreign Income Questions – Ask True Experts -Tax Attorneys, Lawyers, Former IRS 1-866-700-1040
We are FBAR and Foreign Tax Experts.
If you have any questions concerning your individual case call us today for a free initial tax consultation.
You will speak directly to tax attorneys, CPAs, were former IRS agents, managers and tax instructors.
Tips for Taxpayers with Foreign Income
Fresh Start Tax LLC a professional tax firm wants to reminds U.S. citizens and residents who lived or worked abroad in 2012 that they may need to file a federal income tax return.
If you are living or working outside the United States, you generally must file and pay your tax in the same way as people living in the U.S. This includes people with dual citizenship.
Here are tips taxpayers with foreign income should know:
1. Report Worldwide Income.
The federal law requires U.S. citizens and resident aliens to report any worldwide income. This includes income from foreign trusts, and foreign bank and securities accounts.
2. File Required Tax Forms.
In most cases, affected taxpayers need to file Schedule B, Interest and Ordinary Dividends, with their tax returns. Some taxpayers may need to file additional forms. For example, some may need to file Form 8938, Statement of Specified Foreign Financial Assets, while others may need to file Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts, with the Treasury Department.
See Publication 4261, Do You Have a Foreign Financial Account?, for more information.
3. Consider the Automatic Extension.
U.S. citizens and resident aliens living abroad on April 15, 2013, may qualify for an automatic two-month extension to file their 2012 federal income tax returns. The extension of time to file until June 17, 2013, also applies to those serving in the military outside the U.S. Taxpayers must attach a statement to their returns explaining why they qualify for the extension.
4. Review the Foreign Earned Income Exclusion.
Many Americans who live and work abroad qualify for the foreign earned income exclusion. This means taxpayers who qualify will not pay taxes on up to $95,100 of their wages and other foreign earned income they received in 2012.
See Forms 2555, Foreign Earned Income, or 2555-EZ, Foreign Earned Income Exclusion, for more information.
5. Don’t Overlook Credits and Deductions. Taxpayers may be able to take either a credit or a deduction for income taxes paid to a foreign country.
This benefit reduces the taxes these taxpayers pay in situations where both the U.S. and another country tax the same income.
6. Use IRS Free File. Taxpayers who live abroad can prepare and e-file their federal tax return for free by using IRS Free File.
People who make $57,000 or less can use Free File’s brand-name software. People who earn more can use Free File Fill-able Forms, an electronic version of IRS paper forms. Free File is available exclusively through the IRS.gov website.
FBAR Overview
The Financial Crimes Enforcement Network (FinCEN) delegated to IRS its enforcement authority for penalties imposed under Title 31, Sections 5314 – 5321 for the failure to file Form TD F 90-22.1 Report Of Foreign Bank And Financial Accounts (FBAR).
Filing Procedure
Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts, must be filed by US persons who have a financial interest in, signature authority, or other authority over one or more financial accounts in foreign countries with an aggregate value exceeding $10,000 at any time during the calendar year.
Failure to file this form may result in civil and/or criminal penalties.
These civil penalties may be appealed.
Where to File FBAR
FBAR reports are filed at the Enterprise Computing Center (ECC) in Detroit, Michigan. Filings can be researched on the Currency and Banking Retrieval System (CBRS) or on FBAR penalties may come to Appeals as stand-alone cases or together with a related income tax or international penalty.
FBAR penalties are an Appeals Coordinated Issue (Category of Case) and require a referral to International Operations prior to holding the first conference. International issue guidelines are available from the Appeals International Technical Specialist (ITS).
The FBAR penalty case will usually be received in Appeals pre-assessment. However, upon request, Appeals will also conduct post-assessment hearings as provided in Title 31 CFR 5.4 and 900 to consider FBAR penalty liability and collection.
Call us today and learn more about foreign income and any Fbar procedures you need to learn about.
All initial tax consultations are free.
FBAR, Foreign Income Questions – Ask True Experts – Tax Attorneys, Lawyers, Former IRS
by Fresh Start Tax | Mar 26, 2013 | Tax Help
IRS Seizure Tax Help – Former IRS Agents & Managers – IRS Help Experts 1-866-700-1040
Let us stop the IRS.
If you are looking for IRS seizure tax help call the tax professionals at fresh start tax llc. With over 60 years of direct IRS work experience we can help resolve any IRS tax issue that you have including IRS Seizure Tax Help.
Re: IRS seizures
Being a former IRS agent and revenue officer I can tell you that the Department of Treasury, Internal Revenue Service can seize almost anything it wants to seize. Last year the IRS seized approximately 700 property units nationwide.
Before IRS can go ahead and seize property it must go through a series of regulations and tax procedures and must stay within the guidelines of their IRS policy statements.
IRS usually goes to great lengths not to seize property and usually gives the taxpayer many opportunities before seizing any assets. There are appeals processes before IRS seizures.
Should IRS be hot on your tail contact us today for free tax consultation and let us immediately stop the IRS in their tracks.
IRS policy statement regarding IRS Seizures
Collection enforced through seizure and sale of the assets occurs only after thorough consideration of all factors and of alternative collection methods
The facts of a case and alternative collection methods must be thoroughly considered before determining seizure of personal or business assets is appropriate.
Taxpayer rights must be respected.
The taxpayer’s plan to resolve past due taxes while staying current with all future taxes will be considered.
Opposing considerations must be carefully weighed, and the official responsible for making the decision to seize must be satisfied that other efforts have been made to collect the delinquent taxes without seizing.
Alternatives to seizure and sale action may include an installment agreement, offer in compromise, notice of levy, or lien foreclosure.
Seizure action by the IRS is usually the last option in the collection process.
All seizures will be approved by the Chief, Collection Division, with other specific seizures also requiring District Director, Assistant District Director, or Counsel approval, or court order.
Click through this link to see Policy Statements
http://www.irs.gov/irm/part1/irm_01-002-014.html
Remember, IRS does not randomly seize assets belonging to taxpayers. It painstakingly goes through processes of sending notices, certified mail, and making every effort to contact taxpayers before seizures are made. The most common form of IRS seizure is an IRS bank levy or IRS wage garnishment.
Contact us today if IRS is threatening any seizure action and let us help stop the problem completely.
by Fresh Start Tax | Mar 26, 2013 | Tax Help
Real Estate Agents – IRS Help, Tax Audit, IRS Settlements 1-866-700-1040
We are tax specialty firm that deals with any IRS related problems or issues that you have. Do not be bullied by the IRS.
Due to the economy certain industries have been hit extremely hard and financial have had drastic effects on IRS related matters.
Due to the amount of foreclosures, lack of funding and the overall housing industry, real estate agents, brokers and those in the real estate industry in general have been crushed with many cash flow issues. The money is no longer there.
If you are undergoing such a problem and the IRS is on your back and you need to hire a professional tax from make sure you check the Better Business Bureau ratings before engaging any professional firm for IRS Help.
IRS tax audits may be very complicated and complex .In hiring a firm you should make sure there are former IRS agents and managers on staff that can keep you out of certain pitfalls that could be financial harmful.
As far as IRS settlements are concerned, the IRS initiated the new fresh start program which is allowing thousands of people to go ahead and settle their tax bill for pennies on the dollar.
If you are interested in such a program make sure you are qualified before you file for the offer in compromise.
You will find on our website the qualifier for the IRS settlement program.
You can call us at any time for free initial consultation for IRS Help for tax audits and settlements.
Why the IRS Audits Tax Returns
a. Front Loaded Programs
Front Loaded programs are those tax audits that IRS DC headquarters has determined are very important and a considerable amount of time must be spent on these programs and activities.
Each area has discussions within management as to what the programs should be for each region, district, and office. Some of the programs are:
a. Special enforcement programs – An example of this may be compliance of all flee market vendors, a program I was involved with.
b. High Income non-filers – The IRS would get their information from a match program of w-2′s and 1099′s and match up social security numbers against filed returns
c. Abusive Tax Avoidance – This could be in the area of offshore activities
d. Offshore credit card program
e. National Research programs – Those set forth by management after doing a trends project
f. FBAR filing – IRS is currently targeting those with overseas bank accounts
g.Non- filers – IRS is presently forming a task force to seek non-filers though aggressive means.
b. The IRS makes sure there is balanced coverage on all tax audits.
The National Office makes sure there is a balanced approach for audit return delivery and tax compliance. Resources and inventory and the size of personnel all go into this formula.
The focus is blended into these areas:
1. Individual returns less than $100,000.
2. Individual returns greater than $100,000 but less than $200,000.
3. Individual returns greater than $ 200,000.
4. Small Business Corporations.
5. Small Business Flow-Through Entities – S Corporations, Fiduciaries and Partnerships.
c. Classification Plan
The IRS will prepare a plan, which is classified. A National DIF score indicator is placed on all Federal Income tax returns that are filed.
Each individual tax return has certain factors that contribute to its score such as Gross Income, Adjusted Gross Income and line item expense.
There are several classified secrets that go into the DIF score. Each tax return is processed through the IRS computer line item by line item.
A DIF score label is placed on every tax return with its DIF number. A tax examiner or Revenue Agent manually eyeballs each and every tax return with a high DIF score. The examiner then determine which return has the highest probability of tax audit success.
d. DIF Cutoff Score
The IRS will calculate the Area DIF cutoff score for each activity code, giving consideration to the selection rate. This is the lowest DIF score necessary to secure the number of returns required for audit. For example, if the return plan shows 225 returns for an activity code and the selection rate is 70%, the IRS will need to order 321 returns (225/70%).
The DIF Cut off Score is 500. The number of returns with DIF scores greater than 550 is 280, which is less than the number of returns required, so the lowest DIF score on an ordered return will be in the range of 500 to 550 and the DIF cutoff score is 500.
Real Estate Agents – IRS Help, Tax Audit, IRS Settlements
by Fresh Start Tax | Mar 26, 2013 | Tax Help
Tax Preparation Services, Company – Pompano, Deerfield Beach, Former IRS 954-492-0088
We are a professional tax firm who have been preparing tax returns for South Floridians since 1982.
We are comprised of former IRS agents, managers and tax instructors. We can help audit proof your return from the Internal Revenue Service and assure that you are paying the lowest amount of tax allowed by law.
We are affordable, trustworthy and dependable.
Tax Tips Form Fresh Start Tax LLC
Home Office Deduction: a Tax Break for Those Who Work from Home
If you use part of your home for your business, you may qualify to deduct expenses for the business use of your home.
Here are fact to help you determine if you qualify for the home office deduction.
1. Generally, in order to claim a deduction for a home office, you must use a part of your home exclusively and regularly for business purposes. In addition, the part of your home that you use for business purposes must also be:
• your principal place of business, or
• a place where you meet with patients, clients or customers in the normal course of your business, or
• a separate structure not attached to your home. Examples might include a studio, workshop, garage or barn. In this case, the structure does not have to be your principal place of business or a place where you meet patients, clients or customers.
2. You do not have to meet the exclusive use test if you use part of your home to store inventory or product samples.
The exclusive use test also does not apply if you use part of your home as a daycare facility.
3. The home office deduction may include part of certain costs that you paid for having a home. For example, a part of the rent or allowable mortgage interest, real estate taxes and utilities could qualify.
The amount you can deduct usually depends on the percentage of the home used for business.
4. The deduction for some expenses is limited if your gross income from the business use of your home is less than your total business expenses.
5. If you are self-employed, use Form 8829, Expenses for Business Use of Your Home, to figure the amount you can deduct. Report your deduction on Schedule C, Profit or Loss From Business.
6. If you are an employee, you must meet additional rules to claim the deduction. For example, in addition to the above tests, your business use must also be for your employer’s convenience.
Tax Preparation Services, Company – Pompano, Deerfield Beach, Delray Beach – Former IRS
