Category Archives: Tax Help

IRS Federal Tax Liens = Where are do they get filed, Remove Federal Tax Lien Help, Former IRS agents

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    The Federal Tax Lien is usually filed in the county, city or government locale in which you live. Since there cannot be a nationwide hunt for liens, the IRS places them in the locale of your homestead so the public has an easy source to find them. Generally, county or city records are now open in internet searches for such information. A simple click from your home computer can give you a wealth of information. Keep in mind the IRS can file multiple liens depending on where you have lived, moved. IRS has a lot of freedom with the filing of their federal tax liens. Need help with the federal tax lien, call former IRS agents and managers who know the system.  

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Where Does The IRS Get Their Tax Levy or Wage Garnishments Sources Information?

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  Believe it or not, from YOU. The IRS simply looks at your 1040 tax return and finds the information right there. If you have written a check to the IRS in the last 3 or 4 years they have that as well. The IRS  goes through your tax returns and looks at your employers and the interest and dividend income information that you have given them. They plug that information into the system and out pops a levy. So, you the taxpayer give them the levy source information.  Also keep in mind that third-party supply IRS information about wages and 1099 information. Third parties are required to send IRS information about all income. So you plus the help of third parties give IRS the information to take money if you owe back taxes.

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Owe IRS Back Taxes, Better Tell the Truth, How IRS can tell if your Lying, Former IRS Agent

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  As a former agent, there are a couple of acid tests to see if the client or the taxpayer is lying.   Here are just three that I would use today. First, the IRS pulls up an Accurint report. It is an online search engine that anyone can use that gives them 10 years worth of information on anybody. In the age of technology, assets are so easy to find. The IRS will find any information they have to. They are a giant. The second thing I would do is to make sure financial statements, bank statements and 1040’s all have a common cord through them, this is to say, they make sense when put together. Does the income on the 1040 match up with the bank statements and the current financial statements? Lastly, I would check credit cards to see if the purchases match up with everything else. Here is a bonus way to tell you maybe lying. IRS will check your credit history and find out if you have given a financial statement to anybody within the … Continue reading

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How Soon Can a IRS Tax Levy Notice or IRS Wage Garnishment be Released, / Removed, Former IRS Agents Tax Help,

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      Within 24 hours, if you know what you are doing. The basic rules of levy release are as follows. Have all tax returns filed and complete a financial statement ( 433f)  with all documentation and send to a IRS agent at the ASC Unit. The only reason IRS sends out the a tax levy or wage garnishment levy is because taxpayers do not respond to IRS final notices. IRS needs a closing method for your case. The current financial  statement will determine the closing method on your case. As a general rule, your case will either be put into a non-collectible file for a couple of years or IRS will ask you for a monthly payment or you could possibly be an offer in compromise candidate. As former IRS agents we are best suited to help you with all IRS tax matters call us today for a free initial tax consultation.   How Soon Can a IRS Tax Levy Notice or IRS Wage Garnishment be Released, / Removed, Former IRS Agents Tax Help,  

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How to Get IRS Penalties Removed, Lower your Tax Bill = What You Need to Know

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    There is only one way to get IRS penalties and interest removed to lower your tax bill.   You must know the system to get IRS tax penalties abated or removed from the IRS. As former IRS agents we know the system. you can go to our home page and look at abatements of penalties and interest for full detail on how to get IRS penalties removed.   If you have more than $25,000 worth of penalties and interest is best to hire a tax professional if you have under $25,000 in your  penalties and interest please note the following:   5.1.15.1 (09-03-2008) From the  Internal Revenue Service. People have asked, where is the requirement found to abate penalties and interest? It is found in the IRM. Here is the authority and law to do this. Tax Abatements – Law and Regulations 1. According to the law and regulations, the Service has the authority to abate tax. 2. Law – Internal Revenue Code (IRC) 6404(a) provides (in part): The Secretary is authorized to abate the unpaid portion of … Continue reading

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Owe IRS Trust Fund Payroll Tax, Beware = Trust Fund Tax, 6672 Penalty – Hire a IRS Tax Professional

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    Trust Fund Taxpayers.   Any time you owe back trust fund tax is always wise to hire a former IRS agent or someone with extensive tax experience to go ahead and manage the trust fund that with the Internal Revenue Service.   The Internal Revenue Service takes unpaid trust fund taxes a lot more serious the most taxes simply because it is taxes withheld. IRS takes a much closer look on repair cases so beware if you have been pyramiding tax liability. The reason I am drawing interest to this type of case is because these cases can be used by the criminal division to put you in jail. Pay your 941 taxes.  If not hire a tax professional to help negotiate these tax matters. The other reason I am drawing this to your attention is that there is a tendency when your company is failing, to start up a new corporation.  If the IRS gets wind of these companies moving from company to company and building up IRS payroll taxes, expect the IRS to amp up enforcement. … Continue reading

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IRS Bank Tax Levy Holding Period = How Long Does a Bank Hold a Levy?

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    If you are in receipt of an IRS bank tax levy we can generally get your levy released within 24 hours of receiving a verified financial statement.   Please keep in mindall tax  RETURNS will have to be filed and up-to-date. I’m a former IRS agent teaching instructor. We know the system.     A bank has a certain amount of time that it must hold a Federal Tax Levy. Herein the the requirement of record: A bank must wait 21 calendar days after a levy is served before sending payment. Then, on the next business day, it must turn over the taxpayer’s money. The depositor(s) can waive this waiting period. The bank will not send money that is subject to attachment or execution under judicial process. “Bank”  includes credit unions, savings and loan associations, trust companies, and others described in IRC 408(n) and Treas. Reg. §301.6332?3(b). During the holding period, a levy might be released, or the amount owed could decrease. Note: If the bank receives no release, it must send the payment after the holding period. … Continue reading

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How Long Can The IRS Continue to Collect My Back Tax Debt, Release of a IRS Tax Lien = What You Need to Know, Former IRS Help

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    The IRS has a certain period of time in which they have to collect monies from taxpayers that have not paid their bill in full.   We are a full service tax firm that specializes in IRS tax releif.   The IRS has generally 10 years from the date of the assessment, which is usually 6 weeks after filing your return, to collect the money in full. At the end of the 10 years the debt is written off by the Federal Government. After that, the taxpayer wants to make sure the Federal Tax Lien no longer effects their credit. A release of Federal Tax Lien can be requested by the taxpayer and the IRS must release the lien.   What can extend the 10 year statatue of limitation??? 1.  
Bankruptcy 2. Judgment/Litigation 3. Offer In Compromise 4. Signing of a waiver.   Certain things extend the statute of limitations. If you are not sure it’s best to pull an IRS tax transcript to find out what your 10 year extended date may be. If you have questions … Continue reading

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Removing your IRS Federal Tax Lien off Your Credit Report, Former IRS Agents, IRS Experts

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      One of the damaging aspects of the Federal Tax Lien is not only putting the public on notice that you owe federal tax dollars and that the lien attaches to all personal and real property that you own, BUT, it also will ruin your credit! Once a creditor sees that a Federal Tax Lien has been filed, all credit is usually shut off and down until that tax lien has been released. To get a Federal Tax Lien released you must generally pay the tax in full. There are other ways and avenues to get your federal tax lien off your credit report. To get a federal tax lien removed you will obviously get it released if you pay in full. You can also file an offer in compromise, have accepted and meet the terms of the offer in compromise. When you meet the terms Internal Revenue Service will release your federal tax lien. If your tax debt is under $25,000 you could make three payments on a debit checking account and the IRS will release your … Continue reading

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IRS Bank Levy, Wage Garnishment Levy, What You Need to Know, Former IRS Agents, IRS Tax Experts

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    There are generally two types of levies.   The IRS will send both of these levies out when working an open collection case. The first type of levy is a wage garnishment levy. The reason this levy is different is because it is a continuous levy. It activates each and every paycheck period. It does not stop until the levy is released or until you quit. The IRS by no means wants to take your paycheck each and every week, but does so because it has no choice until you get into compliance with their system. The second type of levy is a bank or third party levy. It takes effect only on the date, place, and time of service. It is a one time shot. To seize monies from this place again, the IRS must send out a new tax levy.   If you have received an IRS bank levy or wage garnishment,  call us today and as a general rule within 24 hours of receiving your current financial statement and full documentation we can get your … Continue reading

Posted in Tax Advice, Tax Help | Tagged Former IRS Agents, irs bank levy, IRS Tax Experts, Wage Garnishment Levy, What You Need to Know | Leave a comment
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