by Fresh Start Tax | Oct 31, 2014 | Tax Help
Have former AFFORDABLE IRS agents and managers immediately remove an IRS tax Levy, bank levy or wage garnishment & close your case.
Within 24 hours of receiving your current documented financial statement, as a general rule we can get your levy released in your case closed with the Internal Revenue Service.
We are a fast and affordable professional firm that is A+ rated by the Better Business Bureau and we have been in private practice since 1982.
Being Former IRS Agents and Managers, we know the System
As former IRS agents and managers we know the exact systems, protocols to go ahead and get your IRS tax levy released and your tax case settled.
The Internal Revenue Service will want to current financial statement on form 433F along with all documentation to support the verified financial statement.
Once in hand, the Internal Revenue Service will come up with an exit strategy and release your tax levy at the same time.
As a general rule your case will either be put into:
- an economic tax hardship,
- IRS will ask you to make a monthly payment and the IRS may also recommend you settle your case with an IRS offer in compromise.
Tax Settlements, Offers in Compromise
Offer in Compromise
An offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can’t pay your full tax liability, or doing so creates a financial hardship.
IRS will consider your unique set of facts and circumstances:
• Ability to pay;
• Income;
• Expenses; and
• Asset equity.
IRS will generally approve an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time.
We will sure you are eligible
Before we can consider your offer, you must be current with all filing and payment requirements. You are not eligible if you are in an open bankruptcy proceeding.
Will we also use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.
Important Note
It is important for you to know that the Internal Revenue Service will want all tax returns filed, current and up-to-date.
If you need to file back tax returns contact us today and we will have a former IRS agents prepare your tax returns to assure your paying the lowest amount allowed by law.
Call us today for initial consultation.
IRS Help – Tax Levy, Bank, Wage Garnishment Levies, Fast Settlement Removals – Naperville, Elgin, Waukegan, Cicero
by Fresh Start Tax | Oct 31, 2014 | Tax Help
Health Care Tax Credit – Small Employers Should Check Out the
New and existing small employers who do not yet benefit from the Small Business Health Care Tax Credit should look into whether the credit can help them provide insurance to their employees.
For tax years beginning in 2014 and after, the maximum credit is 50 percent of premiums paid for small business employers, and 35 percent of premiums paid for tax-exempt small employers, such as charities.
Beginning in 2014, a small employer may qualify for the credit if:
- It has fewer than 25 employees who work full-time, or a combination of full-time and part-time. For example, two half-time employees equal one full-time employee for purposes of the credit.
- It pays premiums on behalf of employees enrolled in a qualified health plan offered through a Small Business Health Options Program Marketplace or qualifies for an exception to this requirement.
The average annual wages of full-time equivalent employees are less than $51,000. The annual average wages will be adjusted annually for inflation.
It pays a uniform percentage for all employees that is equal to at least 50 percent of the premium cost of the insurance coverage.
The credit is available to eligible employers for two consecutive taxable years.
A small business employer who did not owe tax during the year can carry the credit back or forward to other tax years.
Also, since the amount of the health insurance premium payments is greater than the total credit claimed, eligible small employers can still claim a business expense deduction for premiums in excess of the credit.
For tax-exempt small employers, the credit is refundable. Even if the tax-exempt small employer has no taxable income, it may be eligible to receive the credit as a refund so long as it does not exceed its income tax withholding and Medicare tax liability.
More information
More information about the Small Business Health Options Program Marketplace – better known as the SHOP Marketplace – including the Federally Facilitated Marketplace, is available at HealthCare.gov .
Find out more about the small business health care tax credit at IRS.gov/aca.
by Fresh Start Tax | Oct 30, 2014 | Tax Help
As Former IRS Agents and Managers we know the system.
We are the Affordable Professional Tax Firm for resolving your IRS Back Tax Debt Problems.
We are A plus rated by the BBB. We have been in practice since 1982.
We are experts if you owe Back IRS Taxes and need immediate IRS Tax debt relief.
Searching the Internet for IRS tax help,I would urge caution.
In searching the Internet you will find many advertisers in the vertical of owing IRS back taxes.
A closer look at many of these Internet firms, you will find that many are no more than lead generations.
Check out there sites, there are no bio’s of professionals, because there are none.
Lead generation companies are advertisers who farm and sell your information to third parties who will pay the highest amount of money for your information.
Sometimes up to $90 a shot.
As a result, you never know who’ll wind up with your personal information.
Fresh Start Tax LLC is a true IRS tax resolution firm specializing individuals, companies, corporations that owe back IRS taxes. A plus rated BBB.
Our firm is staffed with IRS tax attorneys, tax lawyers, certified public accountants, enrolled agents and former IRS revenue officers.
Our former IRS staff has over 60 years of professional tax experience in the local, district, and regional tax offices of the Internal Revenue Service.
There are variety of solutions available for taxpayers who will IRS back taxes.
If you are going to owe back taxes to the Internal Revenue Service, the IRS will require a current financial statement usually on form 433-F.
Once IRS sees that form documented and verified they will close your case off the enforcement computer.
Two general ways in which IRS will close your case.
1. Through a economic tax hardship, which means you don’t have enough money to cover your current expenses within the necessary standards.
2. The other is that you can make a payment based on your current income and expenses.
The third option is the possibility of an offer in compromise called a tax debt settlement.
Over 38% of all those who apply qualify for the offer in compromise program.
Call us today for a free initial tax consultation and we will walk you through the process of resolving permanently, efficiently and affordably your IRS back tax debt problems.
If you owe back taxes and problems we are the affordable tax experts.
Call us today for a free initial tax consultation and hear the truth about your case.
We are honest, experienced and the affordable tax experts for owing IRS back taxes.
Hire the best for the same fees.
Owe IRS Back Taxes, IRS Tax Debt Relief, Offer in Compromise = Former IRS Affordable – Downey Cambridge, New Bedford, Brockton, Quincy
by Fresh Start Tax | Oct 30, 2014 | Tax Help
Various Tax Benefits Increase Due to Inflation Adjustments for the year 2015
For tax year 2015, the Internal Revenue Service announced today annual inflation adjustments for more than 40 tax provisions, including the tax rate schedules, and other tax changes. Revenue Procedure 2014-61 provides details about these annual adjustments.
The tax items for tax year 2015 of greatest interest to most taxpayers include the following dollar amounts :
- The tax rate of 39.6 percent affects singles whose income exceeds $413,200 ($464,850 for married taxpayers filing a joint return), up from $406,750 and $457,600, respectively. The other marginal rates – 10, 15, 25, 28, 33 and 35 percent – and the related income tax thresholds are described in the revenue procedure.
- The standard deduction rises to $6,300 for singles and married persons filing separate returns and $12,600 for married couples filing jointly, up from $6,200 and $12,400, respectively, for tax year 2014. The standard deduction for heads of household rises to $9,250, up from $9,100.
- The limitation for itemized deductions to be claimed on tax year 2015 returns of individuals begins with incomes of $258,250 or more ($309,900 for married couples filing jointly).
- The personal exemption for tax year 2015 rises to $4,000, up from the 2014 exemption of $3,950. However, the exemption is subject to a phase-out that begins with adjusted gross incomes of $258,250 ($309,900 for married couples filing jointly). It phases out completely at $380,750 ($432,400 for married couples filing jointly.)
- The Alternative Minimum Tax exemption amount for tax year 2015 is $53,600 ($83,400, for married couples filing jointly). The 2014 exemption amount was $52,800 ($82,100 for married couples filing jointly).
- The 2015 maximum Earned Income Credit amount is $6,242 for taxpayers filing jointly who have 3 or more qualifying children, up from a total of $6,143 for tax year 2014. The revenue procedure has a table providing maximum credit amounts for other categories, income thresholds and phaseouts.
- Estates of decedents who die during 2015 have a basic exclusion amount of $5,430,000, up from a total of $5,340,000 for estates of decedents who died in 2014.
- For 2015, the exclusion from tax on a gift to a spouse who is not a U.S. citizen is $147,000, up from $145,000 for 2014.
- For 2015, the foreign earned income exclusion breaks the six-figure mark, rising to $100,800, up from $99,200 for 2014.
- The annual exclusion for gifts remains at $14,000 for 2015.
- The annual dollar limit on employee contributions to employer-sponsored healthcare flexible spending arrangements (FSA) rises to $2,550, up $50 dollars from the amount for 2014.
- •Under the small business health care tax credit, the maximum credit is phased out based on the employer’s number of full-time equivalent employees in excess of 10 and the employer’s average annual wages in excess of $25,800 for tax year 2015, up from $25,400 for 2014.
Details on these inflation adjustments and others not listed in this release can be found in Revenue Procedure 2014-61, which will be published in Internal Revenue Bulletin 2014-47 on Nov. 17, 2013.
The pension limitations for 2015 were announced on Oct. 23, 2014
by Fresh Start Tax | Oct 30, 2014 | Tax Help
We are the affordable professional tax that specialize in IRS tax relief help.
We have been in private practice since 1982 and we are A+ rated by the Better Business Bureau.
On staff are Former IRS agents that have over 60 years of working for the Internal Revenue Service in the local, district, and regional tax offices of the IRS.
As a result of our 60 years of direct IRS work experience, we can give you immediate help for IRS tax levies, IRS tax audits, IRS tax settlements and the filing of back tax returns.
We are a full-service tax firm that is A+ rated by the Better Business Bureau.
IRS – Tax Help Relief for those who Owe Back Tax.
Tax Relief Help begins with us filing of a power of attorney with the Internal Revenue Service. Form 2848 is used by the IRS.
As a result of our filing our power of attorney to IRS, you’ll never have to speak to the Internal Revenue Service.
If you have received an IRS tax Levy, Bank Levy, or wage garnishment levy, within 24 hours of receiving your current financial statement we can get your IRS tax Levy released in your case closed.
The Internal Revenue Service will want a current documented financial statement before IRS will release will release your current tax levy, bank levy or wage garnishment.
The Internal Revenue Service will analyze your financial statement and determine whether they are going to put you in a current non-collectible file or ask you for a monthly installment agreement. We will review your case and positively make sure you get the best possible settlement depending on your current financial statement.
Tax Settlements
If you are looking for an IRS tax settlement we can speak you about the program called the offer in compromise.
It is the only way you can settle back taxes with the Internal Revenue Service.
Call us today for a free initial tax consultation we will walk you through the process of how to get immediate and permanent tax relief.
If you have not filed your back returns and have few records, we can prepare your back tax returns under reconstructive methods.
If you will owe monies as a result of filing back taxes returns we can work out a tax settlement as well.
IRS – Tax Help, Tax Levy, Bank Levy, Wage Garnishment * Fast Affordable* Cambridge, New Bedford, Brockton, Quincy
