If you have any issues with your back taxes with either the Internal Revenue Service or the State of Florida contact us today for immediate and permanent tax resolution on your back tax issues or your back tax problems.
Free consultations are available with Tax Attorneys, CPAs were former IRS agents.
We are comprised of tax attorneys, CPAs and former IRS agents, managers and instructors. We have over 60 years of direct work experience in the local South Florida IRS offices and we have been in the positions of agents, managers, instructors, and former IRS appeals agents.
All our work is done in-house and we are A+ rated by the Better Business Bureau. We have been serving South Florida since 1982.
So if you have any back tax issues whether you have not filed tax returns or owed back taxes or going through a tax audit call us today and we will match you up with the tax specialist that can immediately and permanently start to resolve your IRS back tax problem.
The Internal Revenue Service six months ago made major changes in the way they deal and handle taxpayers that all back taxes. The new fresh start program or fresh start initiative is going to help out thousands and thousands upon taxpayers to go ahead and more readily and easily handled their IRS tax problems. IRS has made dealing with back taxes a much easier.
Federal Tax Lien Thresholds.
The IRS will significantly increase the dollar thresholds when federal tax liens are generally filed.
The new dollar amount is in keeping with inflationary changes since the number was last revised. Currently, liens are automatically filed at certain dollar levels for people with past-due balances on back taxes.
The IRS plans to review the results and impact of the federal tax lien threshold change in about a year.
A federal tax lien gives the IRS a legal claim to a taxpayer’s property for the amount of an unpaid tax debt. Filing a Notice of Federal Tax Lien is necessary to establish priority rights against certain other creditors.
Usually the federal government is not the only creditor to whom the taxpayer owes money.
A federal lien informs the public that the U.S. government has a claim against all property, and any rights to property, of the taxpayer.
This includes property owned at the time the notice of lien is filed and any acquired thereafter. A federal tax lien can affect a taxpayer’s credit rating, so it is critical to arrange the payment of taxes as quickly as possible.
The IRS will also modify procedures that will make it easier for taxpayers to obtain lien withdrawals.
Federal Tax Liens will now be withdrawn once full payment of taxes is made if the taxpayer requests it. The IRS has determined that this approach is in the best interest of the government.
In order to speed the withdrawal process, the IRS will also streamline its internal procedures to allow collection personnel to withdraw the liens.
The IRS is making other fundamental changes to liens in cases where taxpayers enter into a Direct Debit Installment Agreement .
For taxpayers with unpaid assessments of $25,000 or less, the IRS will now allow lien withdrawals under several scenarios:
Lien withdrawals for taxpayers entering into a Direct Debit Installment Agreement.
The IRS will withdraw a lien if a taxpayer on a regular Installment Agreement converts to a Direct Debit Installment Agreement.
The IRS will also withdraw liens on existing Direct Debit Installment agreements upon taxpayer request.
Federal Tax Liens will be withdrawn after a probationary period demonstrating that direct debit payments will be honored.
This lowers user fees and saves the government money from mailing monthly payment notices.
The IRS will also make streamlined Installment Agreements available to more small businesses. The payment program will raise the dollar limit to allow additional small businesses to participate.
Small businesses with $25,000 or less in unpaid tax can participate.
Currently, only small businesses with under $10,000 in liabilities can participate. Small businesses will have 24 months to pay.
The streamlined Installment Agreements will be available for small businesses that file either as an individual or as a business.
Small businesses with an unpaid tax assessment balance greater than $25,000 would qualify for the streamlined Installment Agreement if they pay down the balance to $25,000 or less.
Small businesses will need to enroll in a Direct Debit Installment Agreement to participate.
The IRS is also expanding a new streamlined Offer in Compromise (OIC) program to cover a larger group of struggling taxpayers.
This streamlined OIC is being expanded to allow taxpayers with annual incomes up to $100,000 to participate. Tax Participants must have tax liability of less than $50,000, doubling the current limit of $25,000 or less.
Compromises or Tax Debt Settlements are subject to acceptance based on legal requirements. Call us for more details.
An offer-in-compromise ( OIC ) is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed.
Generally, an offer 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 will looks at the taxpayer’s income and assets to make a determination regarding the taxpayer’s ability to pay.
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