Let former IRS agents permanently and immediately resolve your IRS problems. Over 60 years of combined work experience.
Call or visit our office for free professional tax consultation and hear the truth about your situation. We are very affordable.
If you have IRS problems you can call us today for free professional tax consultation and hear about the different tax options you have in going ahead in permanently and immediately resolving your tax situation.
If you owe back taxes or have unfiled past-due tax returns or undergoing an IRS tax audit, we can help relieve the stress and worry that you have about your current tax situation.
We are comprised of tax attorneys, CPAs, and former IRS agents and managers.
We have over 60 years of direct work experience in the South Florida IRS offices have also taught tax law at the Internal Revenue Service.
All our work is done in-house and you should also know we do work for several firms who do not have tax departments.
With the new fresh start initiative introduced by IRS six months ago the Internal Revenue Service has made it much easier to go ahead and settle your back tax issues.
Most people who have not filed back tax returns have a natural hesitation to come forward due to the spiraling effect the non filing has in a persons life. We can go ahead and prepare all your back tax returns and work out a tax settlement for you.
Whether you have little or few records we can still prepare your back tax returns as we are experts in tax reconstruction. Remember, at some point you’re going to have to get back in the system. We can make this a painless experience for you.
Do not let fear cripple you and not filing back tax returns. Being former IRS agents and managers we know the exact process on how to get you back in the system in a very painless manner
Audit Techniques Guides (ATGs)
Audit technique guides or resource used by the Internal Revenue Service to go ahead and perform tax audits for various businesses industries and individuals. If you are undergoing a tax audit it is best for you to review these audit technique guides to understand the different issues and the processes that IRS we used to conduct their tax audit.
These Audit Techniques Guides (ATGs) help IRS examiners during audits by providing insight into issues and accounting methods unique to specific industries. While ATGs are designed to provide guidance for IRS employees, they’re also useful to small business owners and tax professionals who prepare returns.
ATGs explain industry-specific examination techniques and include common, as well as, unique industry issues, business practices and terminology.
Tax Audit Guidance is also provided on the examination of income, interview techniques and evaluation of evidence.
So they may be helpful for business and tax planning purposes.
The Internal Revenue Service has expanded its “Fresh Start” initiative to help struggling taxpayers who owe taxes. The following four tips explain the expanded relief for taxpayers.
Penalty Relief Part of the initiative relieves some unemployed taxpayers from failure-to-pay penalties. Penalties are one of the biggest factors a financially distressed taxpayer faces on a tax bill.
The new Fresh Start Penalty Relief Initiative gives eligible taxpayers a six-month extension to fully pay 2011 taxes. Interest still applies on the 2011 taxes from April 17, 2012 until the tax is paid, but you won’t face failure-to-pay penalties if you pay your tax, interest and any other penalties in full by Oct. 15, 2012.
The penalty relief is available to two categories of taxpayers:
1. Wage earners who have been unemployed at least 30 consecutive days
during 2011 or in 2012 up to this year’s April 17 tax deadline.
2. Self-employed individuals who experienced a 25 percent or greater
reduction in business income in 2011 due to the economy.
To qualify for this penalty relief, your adjusted gross income must not exceed $200,000 if married filing jointly or $100,000 if your filing status is single, married filing separately, head of household, or qualifying widower. Your 2011 balance due can not exceed $50,000.
Taxpayers who qualify need to complete a new Form 1127A to request the 2011 penalty relief.
Installment agreements are a payment option for those who cannot pay their entire tax bill by the due date. The Fresh Start provisions give more taxpayers the ability to use streamlined installment agreements to catch up on back taxes and also more time to pay.
The new threshold for requesting an installment agreement has been raised from $25,000 to $50,000.
This option requires limited financial information, meaning far less burden to the taxpayer. The maximum term for streamlined installment agreements has been raised to six years from the current five-year maximum.
If your debt is more than $50,000, you’ll still need to supply the IRS with a Collection Information Statement (Form 433-A or Form 433-F).
You also can pay your balance down to $50,000 or less to qualify for this payment option.
With an installment agreement, you’ll pay less in penalties, but interest continues to accrue on the outstanding balance. In order to qualify for the new expanded streamlined installment agreement, you must agree to monthly direct debit payments.
The new offer in compromise program by the Internal Revenue Service
Offer in Compromise Under the first round of Fresh Start Program. The IRS expanded the Offer in Compromise (OIC) program to cover a larger group of struggling taxpayers. An Offer in Compromise is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed.
The IRS recognizes many taxpayers are still struggling to pay their bills so the agency has been working on more common-sense changes to the OIC program to more closely reflect real-world situations.
Generally, an offer in compromise will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through a payment agreement. The IRS looks at the taxpayer’s income and assets to make a determination regarding the taxpayer’s ability to pay.
Call our offices today to see if you qualify for an IRS tax settlement called an offer in compromise. We will evaluate your case for no charge and make sure you are qualified. Do not spend any money with attacks from going ahead and submitting an offer in compromise unless you are preapproved.
Call our team of tax attorneys, CPAs, or former IRS agents to learn more about the different tax options you have available for any IRS problem, unfiled or back tax returns or IRS tax settlement program.
IRS Problems – Owe Back Taxes, Back Tax Returns, Audits – Miami, Ft. Lauderdale, West Palm, the Florida KeysView all posts by Michael Sullivan →