by Fresh Start Tax | Jun 17, 2020 | Tax Help
Do You Owe IRS Back Taxes ? Here are different ways to resolve your IRS Tax Debt Problems. Affordable Specialists, since 1982.
Mr. Michael Sullivan Fresh Start Tax Expert, Former Agent and Teaching Instructor with the IRS, since 1982, A plus rated.
We are staffed with Tax Attorneys, Tax Lawyers, CPA’s and former IRS agents and teaching instructors that can help you decide to how best resolve your back IRS tax debt problem.
Resolve your IRS Tax Debt Problem by reading the below options.
There are generally 5 ways or programs that IRS has for resolving, settling or dealing with Back IRS Tax Debt.
1. By payment in full,
2. By monthly or installment payments,
3. By the Acceptance of an offer in compromise, (this is how your completely eliminate the tax debt)
4. By statue expiration. (another way to your completely eliminate the tax debt).You will need to pull and IRS tax transcript to find out when the debt expires, it is generally 10 years from the date of assessment.
5. For those who cannot pay their debt IRS has a non-collectible or hardship program.
The most important aspect of solving IRS tax debt cases is completely dependent on the individual or business financial statements, that is the 433,a, 433f, and or the 433b.
You may find these on our website. Go to home page.
Your current documented financial statement determines all.
You must support your financial statement by documentation such as bank statements, pay stubs, copies all bills and expenses.
IRS only allows certain expenses that are considered necessary living expenses.
There are charts available on what IRS allows.You can also find them on our website.
Anything not on those charts are disallowed and this is what trips up most taxpayers. IRS sticks to a strict standard. Please charts are called the IRS national standards.
Notes of interest
All your tax returns will have to be filed before IRS will work and close and solve your case. We can file your back tax returns with or without records via tax reconstruction methods. As former IRS Agent we know exactly the approved process by the IRS.
1. IRS Hardship or Currently not Collectible.
The Internal Revenue Service places 40% of their open collection inventory into a hardship or currently not collectible status. after IRS takes your current financial statement and applies the national standards they determine you do not have the money at this time make payments or full pay the tax liability. Your case will go into hardship or currently not collectible for a period of 2 to 3 years and after that the IRS will kick the case back out to the field for another review. Please be advised that your case will come back
2.cIRS Payment agreements/Monthly installments.
The Internal Revenue Service places approximately 6.5 million cases into payment or installment agreements.
There are different ways to get placed into an installment agreement and it depends on whether you can pay the tax liability off within a given period of time or you need to make monthly payments because of your current financial statement. You need to be familiar with the programs offered by Internal Revenue Service to make sure you do not get put in a situation that will default.
3. The Offer in Compromise Program
As a former IRS agent I taught the OIC program IRS.I know the stem inside and out.
Last year the Internal Revenue Service receives 78,000 offers in compromise. IRS accepted 38% of those offers in compromise for a settlement of $9500. Do not be fooled by this $9500 figure that I throw out because it’s simply a national average and varies from case to case.
There is an IRS pre-qualifier tool that you can use yourself to figure out whether you are a qualified candidate.
The IRS spends a lot of due diligence before they accept an offer in compromise.
It is possible for the IRS to spend over 20-40 hours working an offer in compromise.
IRS uses the Accuriant search engine, Google in a variety of other searches to check on assets and histories of taxpayers and businesses.
You want to make sure you are accurate and truthful on your financial statement.
The higher the dollar case the greater the due diligence.
Many people ask why is this process not that simple. The answer is this, all accepted offers in compromise are a matter of public record for one year in the regional office where the offer was accepted.
The Internal Revenue Service does all that it can to make sure there is a matter of consistency within the offer in compromise program if not still be a tremendous public outcry.
One base rule for the offer in compromise program:
Generally IRS is only concerned about your income and assets. This includes your equity in your home, pension plans and IRA’s.You must give IRS the total equity in all your assets as a starting point.
One nice thing about the IRS accepting your offer in compromise is that once you meet the terms of the settlement they will release your federal tax lien.
After a quick review of your current financial statement we will able to help and determine the best way to resolve your IRS problem.
Call us today for free consultation and speak to a true IRS tax professional.
We been in practice since 1982 and are A+ rated by the Better Business Bureau. We have on staff tax attorneys, tax lawyers, CPAs, former IRS agents, managers and teaching instructors.
Houston Area, How To Resolve, Your Back IRS Tax Debt Problem, Former IRS Agents, Tax Attorneys, Tax Lawyers.
by Fresh Start Tax | Jun 17, 2020 | Tax Help
Owe IRS Back Taxes, here are different ways to resolve your IRS Tax Debt Problems
Mr. Michael Sullivan Fresh Start Tax Expert, Former Agent and Teaching Instructor with the IRS, since 1982, A plus rated.
Learn how to to Resolve your IRS Tax Debt Problem by reading the below options.
There are different Ways to Resolve your back IRS Debt Problems to get tax relief for IRS back taxes.
There are generally 5 ways or programs that IRS has for resolving Back IRS Tax Debt.
1. By payment in full,
2. By monthly or installment payments,
3. By the Acceptance of an offer in compromise, (this is how your completely eliminate the tax debt)
4. By statue expiration. (another way to your completely eliminate the tax debt).You will need to pull and IRS tax transcript to find out when the debt expires, it is generally 10 years from the date of assessment.
5. For those who cannot pay their debt IRS has a non-collectible or hardship program.
The most important aspect of solving IRS tax debt cases is completely dependent on the individual or business financial statements, that is the 433,a, 433f, and or the 433b.You may find these on our website.
Your current documented financial statement determines all.
You must support your financial statement by documentation such as bank statements, pay stubs, copies all bills and expenses.
IRS only allows certain expenses that are considered necessary living expenses.
There are charts available on what IRS allows.You can also find them on our website.
Anything not on those charts are disallowed and this is what trips up most taxpayers. IRS sticks to a strict standard. The charts are called the IRS national standards.
Notes of interest
All your tax returns will have to be filed before IRS will work and close and solve your case. We can file your back tax returns with or without records via tax reconstruction methods. As former IRS Agent we know exactly the approved process by the IRS.
1. IRS Hardship or Currently not collectible.
The Internal Revenue Service places 40% of their open collection inventory into a hardship or currently not collectible status. after IRS takes your current financial statement and applies the national standards they determine you do not have the money at this time make payments or full pay the tax liability. Your case will go into hardship or currently not collectible for a period of 2 to 3 years and after that the IRS will kick the case back out to the field for another review. Please be advised that your case will come back
2.IRS Payment agreements,/Monthly installments.
The Internal Revenue Service places approximately 6.5 million cases into payment or installment agreements.
There are different ways to get placed into an installment agreement and it depends on whether you can pay the tax liability off within a given period of time or you need to make monthly payments because of your current financial statement. You need to be familiar with the programs offered by Internal Revenue Service to make sure you do not get put in a situation that will default.
3. The Offer in Compromise Program
Last year the Internal Revenue Service receives 78,000 offers in compromise. IRS accepted 38% of those offers in compromise for a settlement of $9500. Do not be fooled by this $9500 figure that I throw out because it’s simply a national average and varies from case to case.
There is an IRS pre-qualifier tool that you can use yourself to figure out whether you are a qualified candidate.
The IRS spends a lot of due diligence before they accept an offer in compromise.
It is possible for the IRS to spend over 20-40 hours working an offer in compromise.
IRS uses the Accuriant search engine, Google in a variety of other searches to check on assets and histories of taxpayers and businesses.
You want to make sure you are accurate and truthful on your financial statement.
The higher the dollar case the greater the due diligence.
Many people ask why is this process not that simple. The answer is this, all accepted offers in compromise are a matter of public record for one year in the regional office where the offer was accepted.
The Internal Revenue Service does all that it can to make sure there is a matter of consistency within the offer in compromise program if not still be a tremendous public outcry.
One base rule for the offer in compromise program:
Generally IRS is only concerned about your income and assets. This includes your equity in your home, pension plans and IRA’s.You must give IRS the total equity in all your assets as a starting point.
One nice thing about the IRS accepting your offer in compromise is that once you meet the terms of the settlement they will release your federal tax lien.
After a quick review of your current financial statement we will able to help and determine the best way to resolve your IRS problem.
Call us today for free consultation and speak to a true IRS tax professional.
We been in practice since 1982 and are A+ rated by the Better Business Bureau. We have on staff tax attorneys, tax lawyers, CPAs, former IRS agents, managers and teaching instructors.
Former IRS Agent, Explains, How To Resolve, Your IRS Tax Debt Problem
by Fresh Start Tax | Jun 17, 2020 | Tax Help
So you owe IRS Back Taxes, how can I best solve my IRS Problem?
Michael Sullivan Fresh Start Tax Expert, Former Agent and Teaching Instructor with the IRS, since 1982, A plus rated.
There are different Ways to Solve Back IRS Debt Problems to get tax relief for IRS back taxes.
Here are the Different Ways to help SOLVE your IRS Problem.
There are generally 5 ways or programs that IRS has for solving Tax Debt.
1. By payment in full,
2. By monthly or installment payments,
3. By the Acceptance of an offer in compromise, (this is how your completely eliminate the tax debt)
4. By statue expiration. (another way to your completely eliminate the tax debt)
5. For those who cannot pay their debt IRS has a non-collectible or hardship program.
The most important aspect of solving IRS tax debt cases is completely dependent on the individual or business financial statements, that is the 433,a, 433f, and or the 433b.
Your current documented financial statement determines all.
You must support your financial statement by documentation such as bank statements, pay stubs, copies all bills and expenses.
IRS only allows certain expenses that are considered necessary living expenses.
There are charts available on what IRS allows.
Anything not on those charts are disallowed and this is what trips up most taxpayers. IRS sticks to a strict standard. The charts are called the IRS national standards.
Notes about the Way for Solve your IRS Debt Problem
All your tax returns will have to be filed before IRS will work and close and solve your case.
1. Hardship or Currently not collectible.
The Internal Revenue Service places 40% of their open collection inventory into a hardship or currently not collectible status. after IRS takes your current financial statement and applies the national standards they determine you do not have the money at this time make payments or full pay the tax liability.
Your case will go into hardship or currently not collectible for a period of 2 to 3 years and after that the IRS will kick the case back out to the field for another review.
Please be advised that your case will come back out to the field once again and you will be reevaluated at that time.
2. Payment agreements,/Monthly installments.
The Internal Revenue Service places approximately 6.5 million cases into payment or installment agreements.
There are different ways to get placed into an installment agreement and it depends on whether you can pay the tax liability off within a given period of time or you need to make monthly payments because of your current financial statement. You need to be familiar with the programs offered by Internal Revenue Service to make sure you do not get put in a situation that will default.
3. The Offer in Compromise Program
Last year the Internal Revenue Service receives 78,000 offers in compromise. IRS accepted 38% of those offers in compromise for a settlement of $9500. Do not be fooled by this $9500 figure that I throw out because it’s simply a national average and varies from case to case.
There is an IRS pre-qualifier tool that you can use yourself to figure out whether you are a qualified candidate.
The IRS spends a lot of due diligence before they accept an offer in compromise.
It is possible for the IRS to spend over 20-40 hours working an offer in compromise.
IRS uses the Accuriant search engine, Google in a variety of other searches to check on assets and histories of taxpayers and businesses.
You want to make sure you are accurate and truthful on your financial statement.
The higher the dollar case the greater the due diligence.
Many people ask why is this process not that simple. The answer is this, all accepted offers in compromise are a matter of public record for one year in the regional office where the offer was accepted.
The Internal Revenue Service does all that it can to make sure there is a matter of consistency within the offer in compromise program if not still be a tremendous public outcry.
One base rule for the offer in compromise program:
Generally IRS is only concerned about your income and assets. This includes your equity in your home, pension plans and IRA’s.
One nice thing about the IRS accepting your offer in compromise is that once you meet the terms of the settlement they will release your federal tax lien.
After a quick review of your current financial statement we will able to help and determine the best way to solve your IRS problem.
Call us today for free consultation and speak to a true IRS tax professional.
We been in practice since 1982 and are A+ rated by the Better Business Bureau. We have on staff tax attorneys, tax lawyers, CPAs, former IRS agents, managers and teaching instructors.
Owe IRS Back Taxes, Learn How To, Solve Your IRS Problem, Former IRS Agent
by Fresh Start Tax | Jun 16, 2020 | Tax Help
Since 1982, Affordable, A plus rated BBB. Former IRS Agents, Tax Attorney and CPA’s.
Houston Offices 112 West 4th St. Houston, TX 77007
.
There are different Ways to Solve Back IRS Debt Problems to get tax relief for back taxes, Since 1982, Former IRS Agents who Know the system.
We will review with you the various examinations to help, get rid of, relieve or eliminate you of your current IRS tax debt in obligation. We can file all back taxes as well.
We will walk through all the programs to see what programs you qualify. Since 1982, Former IRS.
We are an Affordable professional tax firm that can offer you a free initial tax consultation and walk you through the process if you have a back balance due the Internal Revenue Service.
If you have balance due on back taxes and are looking to set up a payment agreement, file firm offer in compromise to settle your back tax debt or you need to file back tax returns, call us today for a free initial tax consultation.
We have worked out of the local, district, and regional tax offices of the Internal Revenue Service.
We are true IRS Experts in the area of IRS tax settlement services.
How does IRS dispose of Tax Debt Cases?
The 5 ways or programs for IRS Tax Debt are the following:
1. By Payment in full,
2. By monthly Payments,
3. By the Acceptance of an offer in compromise, (this is how your completely eliminate the tax debt)
4. By statue expiration. (this is how your completely eliminate the tax debt)
5. For those who cannot pay their debt IRS has a non-collectible or hardship program.
Upon your initial free tax consultation we will walk through the various programs and let you know the easiest way to resolve your back tax debt.
The most important aspect of working tax debt cases is completely dependent on the individual or business financial statements.It is the most important factor.
Your current documented financial statement determines all.
IRS uses a very simple formula to determine their settlement process.
It is all about your assets and your income and your current necessary living expenses. There is a very specific formula.
IRS only allows certain expenses that are considered necessary living expenses.
There are charts available on what IRS allows. Anything not on those charts are disallowed and this is what trips out most taxpayers.
A simple review of your current financial statement and we can let you know the different programs you may be eligible for.
You will need to complete form 433F or form 433A for us to make a current determination. IRS will only use their financial statements.
It is critically important to know that you cannot pay less taxes unless you qualify for the offer in compromise program.
IRS has a very specific formula that they use to compute the offer in compromise.
The only way you can pay less tax is through the offer in compromise program. There is also an IRS pre-qualifier form.
I have over 40 years in this industry and it is critical if you want to settle your tax debt for the lowest possible amount you should go to true tax professionals.
Important information:
All your tax returns will have to be filed before IRS will work your offer in compromise.
If you need help with your tax preparation call us and we can have a staff of Experts accountants and tax preparers complete all returns with or without records.
Also beware that many times the Internal Revenue Service want to make sure you are current in your withholding tax or your estimate tax payments are they will not close your work your case until you become fully compliant.
Beware of IRS tax settlement services companies.
We have been in this industry a long time there are many good companies in as many bad tax settlement service companies. For you to evaluate in IRS tax settlement service company you must ask to speak directly to the person who will be working your case.
Generally, when you call a tax services company, you are speaking to what is called a closer. That person is a salesman and will actually bill you and charge you for the services then your case gets passed down the line.
When you call fresh start tax, you will speak directly to the person who works your case and that person can give you a true evaluation on how and if IRS will accept an IRS tax settlement .
Check out the BBB rating and make sure you have a true tax professional working your case.
I suggest you always hire someone who’s worked at the IRS because they are aware of the methodologies required to get your offer in compromise through the system.
Other ways to Solve Back IRS Taxes Debt or Back Tax Issues
As a general rule, you may apply for hardships, payment agreements or settle for an offer in compromise to settle your debt for pennies on the dollar.
We will review with you your financial statement and let you know what the lowest possible settlement IRS will accept. 40% of all persons that owe back taxes are issue into a hardship or are currently not collectible status and 6.5 million taxpayers enter into annual payment agreements.
The other way to pay less tax is for the ten-year statute of limitation to run out and your debt will be written off by the Internal Revenue Service.
If you want to file an offer in compromise I thought you’d like to know what the statistics are.
Last year over 78,000 offers in compromise/IRS tax debt settlement were filed by taxpayers and over 38% of those were accepted for average of $6500 per case. Approximately 40,000 taxpayers last year paid less tax.
At the current time there are 7500 cases in the offer queue. The average wait time is nine months. There are not enough IRS employees to work the current inventory.
Keep in mind this is a national average in your case is completely dependent on your individual financial statement.
We will not file for an offer in compromise unless you are a true candidate for the program. You must qualify.
There is a pre qualifier tool to find out if you are a settlement candidate for income or business tax debt.
Upon your initial tax consultation we’ll let you know if you are eligible to have an accepted offer in compromise by the Internal Revenue Service.
Due to the new fresh start tax initiative Internal Revenue Service had made it easier to file for the program. However this program is not for everybody.
Everyone wants to settle with IRS but there is a very specific format and methodology that must be followed.
There are many myths about the pennies on the dollar program so you need to hear the truth before spending any money.
There are many firms that take your money and then let you know after the fact you are not qualified. you need to know before hand whether you have a fighting chance. Being a former IRS agent employee gives you a huge advantage of having the review your offer in compromise to settle your tax debt.
At our firm we will take no clients money until we are no they are a true candidate for the settlement program.
There are many myths about the offer in compromise so IRS in their great wisdom provides a pre-qualifier tool to find out if taxpayers are eligible for the offer in compromise program so taxpayers do not give their hard-earned money to unsuspecting tax firms promising tax settlements.
The Offer in Compromise Program
If you have any questions or issues about the offer in compromise program to settle or negotiate your debt for pennies on the dollar, call us today and we will review your case to let you know if you are a qualified and suitable candidate.
The IRS spends a lot of due diligence before they accept an offer in compromise.
It is possible for the IRS to spend over 20-40 hours working an offer in compromise.
IRS uses the Accuriant search engine, Google in a variety of other searches to check on assets and histories of taxpayers and businesses.
You want to make sure you are accurate and truthful on your financial statement.
The higher the dollar case the greater the due diligence. Many people ask why is this process not that simple. The answer is this, all accepted offers in compromise are a matter of public record for one year in the regional office where the offer was accepted.
The Internal Revenue Service does all that it can to make sure there is a matter of consistency within the offer in compromise program if not still be a tremendous public outcry.
One base rule for the offer in compromise program. IRS is only concerned about your income and assets. This includes your equity in your home, pension plans are IRA’s.
One nice thing about the IRS accepting your offer in compromise is that once you meet the terms of the settlement they will release your federal tax lien.
Below you will find out what you need to know about the offer in compromise program.
The IRS will return any newly filed Offer in Compromise application where the taxpayer has not filed all required tax returns. The internal revenue service will immediately reject your offer in compromise. Any fees included with the OIC will also be returned.
This new policy does not apply to current year tax returns if there is a valid extension on file.
When IRS determines that they will settle with you, IRS will consider your unique set of facts and circumstances: these are just some
• 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.
Right now that is appox. 9 months
Make sure you are eligible for the offer in compromise to settle your back IRS tax debt.
Before IRS 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.
Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.
Submit your offer in compromise to settle your IRS tax debt
You’ll find step-by-step instructors and all the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B (PDF). Your completed offer package will include:
• Form 433-A (OIC) (individuals) or 433-B (OIC) (businesses) and all required documentation as specified on the forms;
• Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;
• $186 application fee (non-refundable); and
• Initial payment (non-refundable) for each Form 656.
Select a payment option on an IRS offer settlement
Your initial payment will vary based on your offer and the payment option you choose:
• Lump Sum Cash:
Submit an initial payment of 20 percent of the total offer amount with your application. Wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.
• Periodic Payment:(most common)
Submit your initial payment with your application. Continue to pay the remaining balance in monthly installments while the IRS considers your offer. If accepted, continue to pay monthly until it is paid in full.
If you meet the Low Income Certification guidelines, you do not have to send the application fee or the initial payment and you will not need to make monthly installments during the evaluation of your offer.
Call us today for free initial tax consultation and speak to a true IRS tax expert who will walk you through the process of how to negotiate with IRS over back taxes and see if you qualify to pay less taxes for an IRS tax settlement.
IRS Tax Debt Problem Help + Owe IRS Back Taxes + Settlements + Tax Liens + IRS Levies Garnishments + Payments + Representation
by Fresh Start Tax | Jun 15, 2020 | Tax Help
I am a former IRS Agent Revenue Officer and teaching instructor with the Internal Revenue Service. I am an expert in Trust Fund Cases. I literally have worked hundreds and hundreds of IRS Trust Fund, 6672 cases.
As a former Revenue Officer I would set up this 6672 penalties against responsible officers.
Few people know that the trust fund recovery penalty has a statute of limitation.It may be possible your statute of limitation has expired.
It’s best to contact and experience tax professional to find out if the statute of limitation on the trust fund recovery penalty, 6672 as in fact expired.
Many revenue officers keep these cases in their inventory well too long and before you know it the statutes have expired. This does not bode well by management and many times when the statute expired the revenue officers catch living Hell.
I seen a number of revenue officers fired because they let statutes of limitations expire.
Trust fund statute of limitations is very unique in itself.
People who do not pay their payroll taxes get caught up with the IRS asserting the 6672 penalty against responsible persons.
I am not going to go into that in detail. about this. I take it if you are looking the statute up you know what the trust fund penalty is.
Below you will find from the Internal Revenue Service manual the trust fund recovery penalty in its appropriate statute of limitations.
IRS IRM 5.19.14.2.2 (08-03-2018)
Trust Fund Recovery Penalty Statute of Limitations
1. The general rule is that an assessment of tax must be made within three years from the date a return is filed or the due date of the return, whichever is later.
The IRS time frame for assessment of the trust fund recovery penalty against you is based on the filing date of your company’s employment tax returns (Form 941).
The IRS has three years from the filing date of the employment tax returns to come to you with the trust fund penalty. The term “filing date” is important here because it is defined by Internal Revenue Code 6501(b)(2), which states that employment tax returns filed for any period ending within a calendar year are considered filed on April 15 of the succeeding year.
GOOD EXAMPLE:
Lets say a 941 return filed on time for June 30, 2018.
The IRS tax assessment does not begin to consider the return filed for trust fund assessment purposes until April 15, 2019.
This allows the time for the IRS to assess trust fund recovery penalty until April 15, 2022. That’s, three years from April 15, 2019.
If a 941 return was filed timely for the quarter ending December 31, 2017, the IRS will have three years from April 15, 2018 to assess trust fund recovery penalty against you.
The IRS will have until April 15, 2021 to assess trust fund recovery penalty.
If you file your Form 941 late, the statue of limitation for the IRS to assess trust fund recovery penalty is three years from the filing date, but the statute of limitation must have expired if it were filed on time.
Have questions or need representation call. Speak directly to a former IRS Agent.
You May Beat the 6672 Penalty + Check The Statute Of Limitation, Former IRS Agent Revenue Officer
