Stats for Filing Season for 2017

Posted on by

 

Michael Sullivan Fresh Start Tax Expert

 

The Internal Revenue Service has received 103.6 million 2016 individual income tax returns as of April 7 and expects millions more to be filed by the April 18 deadline. Special filing deadline rules apply to members of the military serving in combat zones, those living outside the U.S. and those living in declared disaster areas.

The IRS also expects more than 13 million taxpayers to request a filing extension, giving them six additional months to complete and file their tax return.

Who Needs to File?

Not everyone is required to file a tax return. The requirement to file depends on a person’s income, filing status, age and whether they can be claimed as a dependent on someone else’s return. Anyone not sure whether they need to file a return should see Do I Need to File a Tax Return or refer to Publication 17, Your Federal Income Tax for Individuals, on IRS.gov.

For an estimated one million taxpayers who did not file a 2013 tax return, April 18, 2017, is the last day to file to claim their part of tax refunds totaling more than $1 billion.

Taxpayers due a refund must file a return within three years of its due date or the money becomes the property of the U.S. Treasury.

There are no late filing penalties if a refund is due.

According to the IRS, the most common reasons people do not file a return who should are: they don’t know how, may not have the documents needed or owe more tax than they can pay.

Taxpayers who owe more than they can pay should pay as much as they can by the due date in order to minimize interest and penalties.

Extensions of Time to File

Taxpayers who are not ready to file by the deadline should request an extension of time to file. An extension gives the taxpayer until Oct. 16 to file but does not extend the time to pay. Penalties and interest will be charged on all taxes not paid by the April 18 filing deadline.

There are several ways to do this. The fastest and easiest way to get an extension is through Free File on IRS.gov where some partners offer free electronic filing of the extension request. Extensions are free for everyone, regardless of income.

Taxpayers who earn $64,000 or less can return to Free File before Oct. 16 to prepare and e-file their taxes for free

IRS will automatically process an extension of time to file when taxpayers select Form 4868 and they are making a full or partial federal tax payment using IRS Direct Pay, the Electronic Federal Tax Payment System or by paying with a credit or debit card by the April due date.

There is no need to file a separate Form 4868 extension request when making an electronic payment and indicating it is for an extension.

Taxpayers also can complete and mail in Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, to get a six-month extension.

Taxpayers Who Can’t Pay

Taxpayers should file by the deadline, even if they can’t pay, or pay as much as possible and ask the IRS about payment options. By filing a tax return, even without full payment, taxpayers will avoid the failure-to-file penalty. This penalty is assessed when the required return is not filed by the due date or extended due date if an extension is requested.

The failure-to-file penalty is generally 5 percent per month and can be as much of 25 percent of the unpaid tax. The penalty for returns filed more than 60 days late can be $205 or 100 percent of the unpaid tax.

The failure-to-pay penalty, which is the penalty for any taxes not paid by the deadline, is ½ of 1 percent of the unpaid taxes per month and can be up to 25 percent of the unpaid amount. Taxpayers must also pay interest on taxes not paid by the filing deadline.

The IRS reminds taxpayers that there is no law that permits taxpayers to refuse to file a federal tax return or refuse to pay their taxes.

This includes for reasons based on programs or policies with which they disagree on moral, ethical, religious or other grounds.

Taxpayers who file a frivolous tax return can be assessed a $5,000 penalty and civil penalties of up to 75 percent of the underpaid tax.

Frivolous tax returns are those tax returns that do not include enough information to figure the correct tax or that contain information clearly showing that the tax reported is substantially incorrect.

Posted in Tax Help | Leave a comment

Having IRS Tax Audit + Former Agents Get the Best Results + Ft.Lauderdale, Miami

Posted on by

    Local Affordable Tax Audit Specialists + We are an affordable South Florida team of IRS tax audit experts, former IRS agents and managers, since 1982. A + Rated BBB   We know the IRS audit and appeals system inside and out. Not only were we former IRS agents we were teaching instructors and supervisors within the IRS audit system. We have over 65 years working the system. We were former teaching instructors with the LOCAL Internal Revenue Service. We worked both in audit and collection divisions. Since 1982, we have been representing people in the South Florida, Fort Lauderdale and Miami area. You want to hire IRS agents because of their knowledge of the working system of Internal Revenue Service. There a lot of methodologies to working IRS cases , all our experiences can collaborate into the very best tax result possible. Many profess to be experts in the area of IRS tax audits but unless you have handled thousands of cases and been involved in the system on a daily basis you do not know the complete … Continue reading

Posted in Tax Help | Leave a comment

IRS Tax Help For The Preparer Penalties of Sec. 6694 and Sec. 6695

Posted on by

    We are AFFORDABLE tax firm that can help resolve any IRS tax problem including tax preparer issues and problems. Since 1982. A plus Rated BBB, a professional tax firm. You can get professional and expert representation by former IRS agents that were teaching instructors  and managers with the Internal Revenue Service. Do not fool around with this! As former IRS agents supervisors and teaching instructors we had great value to any tax preparer trying to sort out any problem. We have over 95 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service. We are one of the most experienced tax firms in the industry and are available for free initial tax consultation. The IRS are going gangbusters on preparers and they are waging war and assessing penalties based on the IRC sections applicable below. It is best to fight back using former IRS Agents who know the system.   Free consults.   • Individuals who prepare a tax return or refund claim for compensation or who hire others … Continue reading

Posted in Tax Help | Leave a comment

IRS Auditing Tax Preparer + Received Notice Letters From IRS + Experts Representation

Posted on by

  We are AFFORDABLE tax firm that can help resolve any IRS tax problem including tax preparer issues and problems. Since 1982. A plus Rated BBB, a professional tax firm.   You can get professional and expert representation by former IRS agents that were teaching instructors  and managers with the Internal Revenue Service. Do not fool around with this! As former IRS agents supervisors and teaching instructors we had great value to any tax preparer trying to sort out any problem. We have over 95 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service. We are one of the most experienced tax firms in the industry and are available for free initial tax consultation. The IRS are going gangbusters on preparers and they are waging war and assessing penalties based on the IRC sections applicable below. It is best to fight back using former IRS Agents who know the system. Free consults. Below are the list of various penalties you could be hit with.   Summary of Preparer Penalties under … Continue reading

Posted in Tax Help | Leave a comment

Tax Preparers + IRS Help + Audit, Notices, Letter, Fraud, Settlements

Posted on by

  We are AFFORDABLE tax firm that can help resolve any IRS tax problem including tax preparer  issues and problems.  Since 1982.  A plus Rated BBB, a professional tax firm.   You can have expert representation  by former IRS agents that were teaching instructors and managers with the Internal Revenue Service. As former IRS agents supervisors and teaching instructors we had great value to any tax  preparer trying to sort out any problem. We have over 95 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service. We are one of the most experienced tax firms in the industry and are available for free initial tax consultation. The IRS are going gangbusters on preparers and they are waging war and assessing penalties based on the IRC sections applicable below. It is best to fight back using former IRS Agents who know the system. Free consults.1-866-700-1040   Summary of Preparer Penalties under Title 26 IRC § 6694 – Understatement of taxpayer’s liability by tax return preparer. IRC § 6694(a) – Understatement due … Continue reading

Posted in Tax Help | Leave a comment


Expert Help For Tax Return Preparer Penalties Under IRC Section 6694 & 6695

Posted on by

    We are a team of former IRS agents, managers, teaching instructors that are true experts for tax preparers that have prepare penalties under all IRC sections of the Internal Revenue Code. We have over 95 years of professional tax experience and have worked out of the local, district and regional tax offices of the Internal Revenue Service. You can call us today for a free initial tax consultation. No matter what your situation is with the Internal Revenue Service we can find solutions to help remedy any IRS problem that you may have.   
Return Preparer Penalties Under IRC Section 6694 1. The definition of a tax return preparer for purposes of Sections 6694 and 6695 is provided in IRC 7701(a)(36) and Treasury Regulation 301.7701-15. 2. IRC 6694 penalties can only apply if there is an understatement of tax liability. 3. The IRC 6694(a) penalty is the greater of $1,000 or 50% of the income derived (or to be derived) by the tax return preparer with respect to each return, amended return or claim for refund prepared if … Continue reading

Posted in Tax Help | Leave a comment

Tax Preparer Penalty Defense Firm + Former IRS Agents + We Know the System

Posted on by

  We are AFFORDABLE tax firm that can help resolve any IRS tax problem including tax preparer penalties.   Since 1982.  A plus Rated BBB, use Former Agents who know the system!   You can have back tax assistance by former IRS agents that were teaching instructors with the Internal Revenue Service. As former IRS agents supervisors and teaching instructors we had great value to any tax  preparer trying to sort out any problem. We have over 65 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service. We are one of the most experienced tax firms in the industry and are available for free initial tax consultation.   Summary of Preparer Penalties under Title 26 IRC § 6694 – Understatement of taxpayer’s liability by tax return preparer. IRC § 6694(a) – Understatement due to unreasonable positions.  The penalty is the greater of $1,000 or 50% of the income derived by the tax return preparer with respect to the return or claim for refund. IRC § 6694(b) – Understatement due to … Continue reading

Posted in Tax Help | Leave a comment

Tax Preparer Representation for IRS Problems + Former IRS

Posted on by

    We are affordable tax firm that can resolve any IRS tax problem including tax preparer penalities and issues.   Since 1982.  A plus Rated BBB   We are true experts on giving you every possible  option to resolve you tax preparer issue. You can have back tax assistance by former IRS agents that were teaching instructors with the Internal Revenue Service. As former IRS agents supervisors and teaching instructors we had great value to any tax  preparer trying to sort out any problem. We have over 65 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service. We are one of the most experienced tax firms in the industry and are available for free initial tax consultation.   Summary of Preparer Penalties under Title 26 IRC § 6694 – Understatement of taxpayer’s liability by tax return preparer. IRC § 6694(a) – Understatement due to unreasonable positions.  The penalty is the greater of $1,000 or 50% of the income derived by the tax return preparer with respect to the return … Continue reading

Posted in Tax Help | Leave a comment

TAX PREPARER + Help with IRS + Preparer Penalties + FORMER IRS, AFFORDABLE EXPERTS

Posted on by

  We are affordable tax firm that can resolve any IRS tax problem including tax preparer penalities and issues.   Since 1982.  A plus Rated BBB.   We are true experts on giving you every possible  option to resolve you tax preparer issue. You can have back tax assistance by former IRS agents that were teaching instructors with the Internal Revenue Service. As former IRS agents supervisors and teaching instructors we had great value to any taxpayer trying to sort out the different options. We have over 65 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service. We are one of the most experienced tax firms in the industry and are available for free initial tax consultation.   Summary of Preparer Penalties under Title 26 IRC § 6694 – Understatement of taxpayer’s liability by tax return preparer. IRC § 6694(a) – Understatement due to unreasonable positions.  The penalty is the greater of $1,000 or 50% of the income derived by the tax return preparer with respect to the return or … Continue reading

Posted in Tax Help | Leave a comment

Is Debt Cancellation Taxable + What you Need To Know

Posted on by

  Debt Cancellation May be Taxable   If a lender cancels part or all of a debt, a taxpayer must generally consider this as income. However, the law allows an exclusion that may apply to homeowners who had their mortgage debt canceled in 2016. Here are tips about debt cancellation: 1. Main Home. If the canceled debt was a loan on a taxpayer’s main home, they may be  able to exclude the canceled amount from their income. They must have used the loan to buy, build or substantially improve their main home to qualify. Their main home must also secure the mortgage. 2. Loan Modification. If a taxpayer’s lender canceled or reduced part of their mortgage balance through a loan modification or ‘workout,’ the taxpayer may be able to exclude that amount from their income. They may also be able to exclude debt discharged as part of the Home Affordable Modification Program, or HAMP. The exclusion may also apply to the amount of debt canceled in a foreclosure. 3. Refinanced Mortgage. The exclusion may apply to amounts canceled on a … Continue reading

Posted in Tax Help | Leave a comment
Page 3 of 67412345...102030...Last »
  • Contact Us

    We are here to help

    • Should be Empty:

Call We Can Solve Your Tax Problem Immediately!

Member Of NSA, FICPA, NAEA, Better Business Bureau Accredited Business

: Home: The Firm: Tax Solutions: FAQs: Testimonials: Media Center: Press Releases: IRS Forms: Blog: Contact:
: Site Map: Privacy Policy:

: Immediate Representation: Received IRS Letter: Remove IRS Wage Garnishment: Remove IRS Bank Levy: Installment Agreements:
: Release Tax Liens: Unfiled Tax Returns: Negotiate Offer in Compromise: Innocent Spouse: Settle Payroll Liability / 941:
: Apply for Hardship Status: Large Dollar Cases: 165 Theft Loss Tax Deduction: Owe 401k IRS Taxes: Christian Tax Professionals:
: IRS Tax Audit: Florida Sales Tax Problems: Florida Tax Attorney: Income Tax Return Preparation:

 

Disclaimer: No Rendering of Advice - The information contained within this website is provided for informational purposes only and is not intended to
substitute for obtaining accounting, tax, or financial advice from a professional accountant. Presentation of the information via the Internet is not intended
to create, and receipt does not constitute, an accountant-client relationship. Internet subscribers, users and online readers are advised not to act upon this
information without seeking the service of a professional accountant. Any U.S. federal tax advice contained in this website is not intended to be used for
the purpose of avoiding penalties under U.S. federal tax law.

Accuracy of Information - While we use reasonable efforts to furnish accurate and up-to-date information, we do not warrant that any information
contained in or made available through this website is accurate, complete, reliable, current or error-free. We assume no liability or responsibility for any
errors or omissions in the content of this website or such other materials or communications. Call Fresh Start Tax at 954-492-0088.

Disclaimer of Warranties and Limitations of Liability - This website is provided on an "as is" and "as available" basis. Use of this website is at your own risk.
We and our suppliers disclaim all warranties. Neither we nor our suppliers shall be liable for any damages of any kind with the use of this website.

Links to Third Party Websites - For your convenience, this website may contain hyperlinks to websites and servers maintained by third parties. We do not
control, evaluate, endorse or guarantee content found in those sites. We do not assume any responsibility or liability for the actions, products, services and
content of these sites or the parties that operate them. Your use of such sites is entirely at your own risk.

Frank Andreacchi, Ed Vecchio and Scott Szaro are no longer with the company and are pictured on our site.

*Mr. Sullivan has been in private practice since 1982 in South Florida which gave roots to Fresh Start Tax LLC.
The firm began as Sullivan & Powell PA and through the years transitioned to its now current form.

© 2017 Fresh Start Tax : All Rights Reserved :