by admin | Mar 19, 2012 | IRS Tax Problem, Tax Help, Uncategorized
TAX MASTERS – Get Free Tax Help – Fresh Start Tax – 1-866-700-1040 – Call us today!
A Rated by the BBB.
Former IRS Agents, Managers and Former Instructors can give you immediate tax relief and stop the IRS today.
We will offer huge savings on tax representation fees if you can prove you are a former Tax Masters client.
Since the Bankruptcy of Tax Masters former clients are now scrambling for immediate tax relief. These former clients have paid thousands of dollars to Tax Masters and no longer have tax representation. Basically they have been ripped off.
Tax Masters spent their money on their advertising budget and less on qualified personnel.
After the demise of Roni Deutsche and J.K.Harris, Fresh Start Tax LLC represented many former clients and finished their tax resolution cases with superior results. Check our BBB rating.
Fresh Start Tax LLC has already received some of the former clients of Tax Masters and have offered them discounts to finish up there cases. Some of the former clients have been left in the cold with no idea where their tax case stands. Over 5000 clients have been left stranded.
As a former IRS agent I can tell you that the IRS does not care whether the company representing you went out of business or not, the mission of the IRS is to close cases no matter how.
IRS will continue to levy and seize no matter what.
As former IRS agents we can stop the IRS, find out where your case is and actually close your case. We will also reduce our fees for former Tax Masters clients.
Call us today for a free tax consult.
Fresh Start Tax L.L.C. is one of the premier tax resolution firms in the country. We deal with all types of civil cases including individuals, businesses, non-profits, partnerships and corporations. We have staff that specialize in every facet of IRS Tax Representation.
We know all the IRS tax strategies because of our extensive IRS working backgrounds. We were Former IRS Certified Tax Instructors that taught IRS Tax Law in the IRS Regional Training Center. Some of our many specialties include the following:
Areas of Professional Tax Practice:
- Same Day IRS Tax Representation
- Offers in Compromise or IRS Tax Debt Settlements
- Immediate Release of IRS Bank Levies or IRS Wage Garnishments
- Tax Relief from a IRS Bill, Letter or Notice of “Intent to Levy”
- IRS Tax Audits
- IRS Hardships Cases or Unable to Pay
- Payment Plans, Installment Agreements, Structured agreements
- Abatement of Penalties and Interest
- State Sales Tax Cases
- Payroll / Trust Fund Penalty Cases / 6672
- Filing Late, Back, Unfiled Tax Returns
- Tax Return Reconstruction if Tax Records are lost or destroyed
Our Company Resume: ( Since 1982 )
- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- We taught Tax Law in the IRS Regional Training Center
- Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed and certified to practice in all 50 States
- Nationally Recognized Veteran /Published Former IRS Agent
- Nationally Recognized Published EZINE Tax Expert
- As heard on GRACE 90.3 FM Monthly Radio Show-Business Weekly
See our Home Page for more details Thank you
by admin | Mar 19, 2012 | IRS Tax Debt
Tax Masters – Fresh Start Tax L.L.C. helping Tax Masters former clients.
Get a free tax consultation for your case, no strings attached!
It happened once again and everyone in the tax resolution knew it would only be a matter of time.
The last of the big 3 would close it’s doors. It happened first to the Tax Lady Roni Deutsche, then J.K.Harris and finally the bankruptcy of Tax Masters and Patrick Cox.
These are the main 3 tax resolution companies that advertised heavily in the tax resolution industry. According to the Southern Texas Bankruptcy filing, Tax Masters had less than $5000 in asset and up to 5,000 creditors.
Michael D. Sullivan one of the founders of Fresh Start Tax LLC company believes that smaller to mid-size companies work best in this tax vertical. The reason is quite simple, the Big 3 concentrated on marketing and advertising and less on work or work performance. They were cash machines preying on taxpayers that had IRS problems.
These large companies got so much work in through advertising dollars they could not keep up with demand. Also the reason they got the work was based on false promises that taxpayers tax liability would be settled for pennies on a dollar.
While pennies on a dollar can be true, it just does not happen as much as taxpayers would like. IRS received 57,000 offers in compromise to settle tax debt last year and accepted 12,000 cases for an average of $.14 cents on a dollar.
One of the other main reasons these large companies fail is due to the fact that they do not have the qualified personal to work the cases because most of there budget is spent on advertising dollars.
Fresh Start Tax LLC will offer a free tax consultation all taxpayers that have had tax issues with with Tax Masters, J.K.Harris, or the Tax Lady. Fresh Start Tax LLC is one of the leading tax resolution firms in the country as of the writing of this article has had no complaints and remains spotless.
You have nothing to lose and you will get solid tax advice.
Fresh Start Tax L.L.C. is one of the premier tax resolution firms in the country. We deal with all types of civil cases including individuals, businesses, non-profits, partnerships and corporations. We have staff that specialize in every facet of IRS Tax Representation.
We know all the IRS tax strategies because of our extensive IRS working backgrounds. We were Former IRS Certified Tax Instructors that taught IRS Tax Law in the IRS Regional Training Center. Some of our many specialties include the following:
Areas of Professional Tax Practice:
- Same Day IRS Tax Representation
- Offers in Compromise or IRS Tax Debt Settlements
- Immediate Release of IRS Bank Levies or IRS Wage Garnishments
- Tax Relief from a IRS Bill, Letter or Notice of “Intent to Levy”
- IRS Tax Audits
- IRS Hardships Cases or Unable to Pay
- Payment Plans, Installment Agreements, Structured agreements
- Abatement of Penalties and Interest
- State Sales Tax Cases
- Payroll / Trust Fund Penalty Cases / 6672
- Filing Late, Back, Unfiled Tax Returns
- Tax Return Reconstruction if Tax Records are lost or destroyed
Our Company Resume: ( Since 1982 )
- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- We taught Tax Law in the IRS Regional Training Center
- Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed and certified to practice in all 50 States
- Nationally Recognized Veteran /Published Former IRS Agent
- Nationally Recognized Published EZINE Tax Expert
- As heard on GRACE 90.3 FM Monthly Radio Show-Business Weekly
See our Home Page for more details Thank you
by Jim Magary | Mar 8, 2012 | Uncategorized
Welcome to WordPress. This is your first post. Edit or delete it, then start blogging!
by steve | Mar 4, 2012 | Income Tax Preparation, IRS Tax Problem
There is no hotter topic this tax season. The mortgage debt forgiveness issue is the bulk of our calls and tax questions this tax season. There is a lot on the line. With that said here are the top tax tips regarding mortgage debt forgiveness.
Internal Revenue Service and the Mortgage Debt Forgiveness
Canceled debt is normally taxable to you, but there are exceptions to the rules.
One of those exceptions is available to homeowners whose mortgage debt is partly or entirely forgiven during tax years 2007 through 2012.
1. Normally, debt forgiveness results in taxable income.
However, under the Mortgage Forgiveness Debt Relief Act of 2007, you may be able to exclude up to $2 million of debt forgiven on your principal residence.
2. The limit for mortgage forgiveness is $1 million for a married person filing a separate return.
3. You can also exclude debt reduced through mortgage restructuring, as well as mortgage debt forgiven in a foreclosure.
4. For a taxpayers to qualify the debt must have been used to buy, build or substantially improve your principal residence and be secured by that residence.
5. Refinanced debt proceeds used for the purpose of substantially improving your principal residence also qualify for the exclusion.
6. Proceeds of refinanced debt used for other purposes for example, to pay off credit card debt do not qualify for the exclusion. Check the list to make sure your debt qualifies or call us today.
7. If you can qualify, claim the special exclusion by filling out Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness, and attach it to your federal income tax return for the tax year in which the qualified debt was forgiven.
8. Debt forgiven on second homes, rental property, business property, credit cards or car loans does not qualify for the tax relief provision.
In some cases, however, other tax relief provisions such as insolvency may be applicable. IRS Form 982 provides more details about these provisions.
9. If your debt is reduced or eliminated you normally will receive a year-end statement, Form 1099-C, Cancellation of Debt, from your lender. By law, this form must show the amount of debt forgiven and the fair market value of any property foreclosed.
10. Examine the Form 1099-C carefully.
Notify the lender immediately if any of the information shown is incorrect.
You should pay particular attention to the amount of debt forgiven in Box 2 as well as the value listed for your home in Box 7.
To make sure your debt qualifies for this tax relief, call us today.
by steve | Mar 3, 2012 | Tax News, Uncategorized
IRS offers different tax credits for all kinds of programs. This tax blog will center around the tax credit and retirement savings.
Tax Credits for Retirement Savings
Eligible Contributions
If you make eligible contributions to an employer-sponsored retirement plan or to an individual retirement arrangement, you can be eligible for a tax credit, depending on your age and income.
The Savers Credit:
1. Income limits.
The Savers Credit, formally known as the Retirement Savings Contributions Credit, applies to individuals with a filing status and 2011 income of:
a. Single, married filing separately, or qualifying widow(er), with income up to $28,250
b. Head of Household with income up to $42,375
c. Married Filing Jointly, with incomes up to $56,500
2. Eligibility requirements for Savers Credit.
To be eligible for the credit you must be at least 18 years of age and you cannot have been a full-time student during the calendar year and cannot be claimed as a dependent on another person’s return. IRS will cross check tax returns for possible audits, so be careful.
3. Credit amount for the Savers Credit.
If you make eligible contributions to a qualified IRA, 401(k) and certain other retirement plans, you may be able to take a credit of up to $1,000 ($2,000 if filing jointly). The credit is a percentage of the qualifying contribution amount, with the highest rate for taxpayers with the least income.
4. Distributions.
When figuring this credit, you must subtract distributions you received from your retirement plans from the contributions you made.
This rule applies to distributions received in the two years before the year the credit is claimed, the year the credit is claimed, and the period after the end of the credit year but before the due date including extensions for filing the return for the credit year.
5. Other tax benefits.
The Retirement Savings Contributions Credit is in addition to other tax benefits you may receive for retirement contributions. For example, most workers at these income levels may deduct all or part of their contributions to a traditional IRA. Contributions to a regular 401(k) plan are not subject to income tax until withdrawn from the plan.
6. Forms.
To claim the credit use Form 8880, Credit for Qualified Retirement Savings Contributions.
For questions, call us today.
