by Fresh Start Tax | Aug 28, 2013 | Tax Help
Tax Negotiation Experts
There are many companies on the Internet today who claim to be tax negotiation experts.
Check those professional credentials, there expereince and there rating out carefully.
Fresh Start Tax LLC is a local South Florida tax firm that is comprised of tax attorneys, tax lawyers, certified public accountants, former IRS agents managers and tax instructors.
We also have a State of Florida, Department of Revenue negotiator on staff for Sales and Use Tax Cases.
We have over 300 years of federal and state tax experience and over 76 years of directly working for the Internal Revenue Service and the State of Florida.
We have worked in the local South Florida local , district, and regional tax offices of the Internal Revenue Service.
When working for the IRS and State we were tax negotiators so we know the strategies and settlement formulas for tax negotiations including all tax protocols.
Also on staff is a former IRS appeals federal mediator/ negotiator for the Internal Revenue Service.
We literally have worked thousands of cases and are experts tax negotiations in the field.
We have been in private practice in South Florida since 1982 in are A+ rated by the Better Business Bureau.
You can contact us today for a free initial tax consultation on any IRS problem or situation.
We are true experienced professional tax negotiation experts.
Two programs that allow taxpayers and the IRS to reach agreement
The Internal Revenue Service has two permanent programs that allow taxpayers and the IRS to reach agreement on tax disputes more quickly.
FTM is generally available for all non-docketed cases and collection source work over which SB/SE has jurisdiction, including offer in compromise (OIC), trust fund
recovery penalty (TFRP) and collection due process (CDP) cases.
FTM is generally not available for issues for which resolution will depend on an assessment of the hazards of litigation and which require the FTM Appeals Official to use delegated settlement authority.
Fast Track Mediation program.
This program gives small businesses, self-employed taxpayers and the IRS the opportunity to mediate disputes through an IRS appeals officer, who acts as a neutral party. In this program, most tax disputes are resolved within 40 days compared to several months though the regular appeal process.
Since June 2002, more than 200 cases have been mediated – with 100 percent resolution in more than half of those cases.
Makes permanent the Fast Track Settlement program. The program enables the IRS to resolve tax disputes with large and mid-size businesses at an earlier stage – often within a much shorter time than through the normal audit and appeal processes.
The Fast Track Settlement pilot program became available for large and mid-size businesses on November 14, 2001, with the goal of reaching settlement with taxpayers within 120 days. By May 31, 2003, IRS and 104 large and mid-size business taxpayers had successfully settled through the pilot program, in an average time of 69 days, just over half of the expected time.
Creates the pilot Fast Track Mediation program for Tax Exempt Bonds. This will allow the IRS and issuers of tax exempt bonds to expedite the resolution of cases more quickly than through the standard appeals process.
Call us today for a free initial tax consultation or come by and visit us face-to-face. We are fast, friendly and affordable. We are your local tax negotiation experts located right here in your community.
Tax Negotiation Experts – Tax Attorneys, Former IRS Agents Miami, Ft.Lauderdale, Boca, Palm Beaches
by Fresh Start Tax | Aug 28, 2013 | Tax Help
There are many companies on the Internet today who claim to be tax negotiation experts. I ask you to check those professional credentials out carefully.
Fresh Start Tax LLC is a firm of nationwide experts and we are comprised of tax attorneys, tax lawyers, certified public accountants, former IRS agents managers and tax instructors.
We have over 300 years of federal tax experience and over 60 years of directly working for the Internal Revenue Service in the local, district, and regional tax offices of the Internal Revenue Service.
When working for the IRS we were tax negotiators so we know the strategies and settlement formulas for tax negotiations.
While at the Internal Revenue Service we taught tax law.
Also on staff is a former IRS appeals federal mediator/ negotiator for the Internal Revenue Service.
We literally have worked thousands of cases and are experts tax negotiations.
We have been in private practice since 1982 in are A+ rated by the Better Business Bureau.
You can contact us today for a free initial tax consultation on any IRS problem or situation. We are true experienced tax negotiation experts.
Two programs that allow taxpayers and the IRS to reach agreement
The Internal Revenue Service has two permanent programs that allow taxpayers and the IRS to reach agreement on tax disputes more quickly.
CASE ELIGIBILITY AND EXCLUSIONS
FTM is generally available for all non-docketed cases and collection source work over which SB/SE has jurisdiction, including offer in compromise (OIC), trust fund
recovery penalty (TFRP) and collection due process (CDP) cases.
FTM is generally not available for issues for which resolution will depend on an assessment of the hazards of litigation and which require the FTM Appeals Official to use delegated settlement authority.
Fast Track Mediation program.
This program gives small businesses, self-employed taxpayers and the IRS the opportunity to mediate disputes through an IRS appeals officer, who acts as a neutral party. In this program, most tax disputes are resolved within 40 days compared to several months though the regular appeal process.
Since June 2002, more than 200 cases have been mediated – with 100 percent resolution in more than half of those cases.
Makes permanent the Fast Track Settlement program. The program enables the IRS to resolve tax disputes with large and mid-size businesses at an earlier stage – often within a much shorter time than through the normal audit and appeal processes. The Fast Track Settlement pilot program became available for large and mid-size businesses on November 14, 2001, with the goal of reaching settlement with taxpayers within 120 days. By May 31, 2003, IRS and 104 large and mid-size business taxpayers had successfully settled through the pilot program, in an average time of 69 days, just over half of the expected time.
Creates the pilot Fast Track Mediation program for Tax Exempt Bonds. This will allow the IRS and issuers of tax exempt bonds to expedite the resolution of cases more quickly than through the standard appeals process.
Tax Negotiation Experts – Tax Attorneys, Former IRS Agents
by Fresh Start Tax | Aug 27, 2013 | Tax Help
Selling Your Home – Tax Tips
Fresh Start Tax provides Tips for Individuals Selling Their Home
If you’re selling your main home sometime this year, the IRS has some helpful tips for you.
Even if you make a profit from the sale of your home, you may not have to report it as income.
Selling Your Home – Tax Tips – Former IRS
Tax Tips
1. If you sell your home at a gain, you may be able to exclude part or all of the profit from your income. This rule generally applies if you’ve owned and used the property as your main home for at least two out of the five years before the date of sale.
2. You normally can exclude up to $250,000 of the gain from your income ($500,000 on a joint return). This excluded gain is also not subject to the new Net Investment Income Tax, which is effective in 2013.
3. If you can exclude all of the gain, you probably don’t need to report the sale of your home on your tax return.
4. If you can’t exclude all of the gain, or you choose not to exclude it, you’ll need to report the sale of your home on your tax return. You’ll also have to report the sale if you received a Form 1099-S, Proceeds From Real Estate Transactions.
5. Use IRS e-file to prepare and file your 2013 tax return next year. E-file software will do most of the work for you. If you prepare a paper return, use the worksheets in Publication 523, Selling Your Home, to figure the gain (or loss) on the sale. The booklet also will help you determine how much of the gain you can exclude.
6. Generally, you can exclude a gain from the sale of only one main home per two-year period.
7. If you have more than one home, you can exclude a gain only from the sale of your main home. You must pay tax on the gain from selling any other home. If you have two homes and live in both of them, your main home is usually the one you live in most of the time.
8. Special rules may apply when you sell a home for which you received the first-time home buyer credit.
9. You cannot deduct a loss from the sale of your main home.
10. When you sell your home and move, be sure to update your address with the IRS and the U.S. Postal Service. File Form 8822, Change of Address, to notify the IRS.
by Fresh Start Tax | Aug 27, 2013 | Tax Help
If you owe the Internal Revenue Service excise tax or you’re going through an excise tax audit contact us today to hire or engage former IRS agents and managers to defend you before the Internal Revenue Service.
We are tax experts who both worked in the collection division and the audit division.
You should also know that excise tax audits require certain specialization skills. As former IRS agents we know all the systems, the protocols, and all the tax details involved to handle and to get you your very best tax tax defense. While at IRS we taught tax law.
What are Excise Taxes and important information.
Excise taxes are taxes paid when purchases are made on a specific good, such as gasoline. Excise taxes are often included in the price of the product.
There are also excise taxes on activities, such as on wagering or on highway usage by trucks. Excise Tax has several general excise tax programs.
One of the major components of the excise program is motor fuel.
Various Fuel Tax Credits Extended:
Here Are Special Instructions On How To Report
The American Taxpayer Relief Act, enacted Jan. 2, 2013, retroactively extends certain fuel tax credits that expired at the end of 2011.
These include the biodiesel mixture credit, biodiesel credit, alternative fuel credit and alternative fuel mixture credit. Generally, eligible taxpayers can now claim these credits on their federal excise tax returns, and if the credits exceed their excise tax liability, the excess can be claimed as a refund or income tax credit.
Indoor Tanning Service Providers Must File a Federal Excise Tax Return
Beginning July 1, 2010, indoor tanning services will be subject to a 10 percent excise tax under the Affordable Care Act. Filing your Excise Tax return.
Directors Directive on Announcement 2008-18, FET Compliance Initiative
This Directive provides guidance to examiners auditing taxpayers participating in the voluntary compliance initiative (Announcement 2008-18) regarding foreign insurance excise tax (FET) under IRC 4371- 4374.
Excise Summary Terminal Activity Reporting System (ExSTARS)
ExSTARS is a fuel reporting system developed with the cooperation of the IRS, Department of Transportation, states, and motor fuel industry, which details the movement of any product into or out of an IRS approved terminal.
A facility control number (FCN) designates a storage location within the motor fuel, or renewable fuel production or the bulk transfer / terminal system. Information regarding the use of FCNs was made public by an announcement in the Federal Register on April 12, 2010.
Excise Tax Electronic Data Interchange (EDI) Guides (Pub. 3536)
Terminal Operators and Bulk Carriers refer to Publication 3536 for EDI filing requirements.
637 Registration Program
Under the Code and regulations, each person that engages in certain specified activities relating to excise tax must be registered by the IRS before engaging in that activity.
Online Form 637 Registration Status Check
This Web application provides the ability for businesses to confirm whether individuals/companies have a valid IRS registration.
Exemption From Excise Tax for Certain Wooden Arrows
On Friday, October 3, 2008, P.L. 110-343 (H.R. 1424), the Emergency Economic Stabilization Act of 2008 (Act), also known as the Tax Extenders and Alternative Minimum Tax Relief Act of 2008, was signed into law by the President. The Act includes a key provision in Title V, Section 503 that impacts the Archery federal excise tax.
Field Directive Federal Excise Tax on the Importation and Manufacture of Fishing and Archery Products
This updates the field directive that discusses the Federal Excise Tax on the importation and manufacture of fishing and archery products.
Idling Reduction Devices Exempt from 12% Retail Excise Tax
The Environmental Protection Agency’s (EPA) list of devices that reduce highway tractor idling is now available. These devices may be exempt from the 12 percent retail excise tax provided they meet the criteria set forth in section 4053(9) of the Internal Revenue Code.
Owe IRS Excise Tax, Excise Tax Audits – Hire Affordable Former IRS – Experts
by Fresh Start Tax | Aug 27, 2013 | IRS Tax Audit
TEFRA – Tax Audits
On staff are IRS TEFRA Experts.
One of our Former IRS Agent was a Appeal Agent who was the coordinator for the TEFRA and is a specialist in all TEFRA issues and audits.
The audit procedures for a TEFRA partnership are one of the most complex in the Internal Revenue Code. The partner known as the Tax Matters Partner acts as the liaison between the IRS and the partners.
We are comprised of tax attorneys, certified public accountants, and former IRS agents, managers and tax instructors.
We have over 206 years professional tax experience and over 60 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the Internal Revenue Service.
We are A+ rated by the Better Business Bureau and have been in private practice since 1982.
TEFRA
If you are a partner in a partnership with eleven and more partners, you are a partner in a TEFRA partnership.
The Tax Matters Partner (TMP)
The Tax Matters Partner (TMP) is responsible for keeping partners informed of tax administrative and judicial proceedings relating to the partnership. The TMP has the authority to extend the statute of limitations for assessment with respect to partnership items on the behalf of all partners.
He can bind partners holding less than 1% interest in the partnership to a settlement with the IRS and determine in forum to litigate a partnership controversy.
Due to the complexity of the TEFRA audit procedures, the IRS in many instances fails to follow all of the required procedures for the examination of the partnership.
Further, there may be instances that the TMP and the remaining partners may have a conflict of interest as to specific matters which you may not be aware.
The audit of a TEFRA partnership can be appealed to the Appeals Division and if needed can be litigated in the Tax Court or Court of Federal Claims.
All of these appeals are complex and full of unexpected results to the unwary partner.
You may have been assessed a deficiency based on an audit of a TEFRA partnership and not know it, until you receive a bill from the IRS for the deficiency. TEFRA deficiencies are assessed through computational adjustments, which means you have no appeal rights.
The appeal rights are through the TMP, if he did not exercise them; those appeal rights are expired. So its up to you to be in contact with the TMP when the partnership is being audited and keep current with the proceedings.
There are instances where the IRS has made an assessment of a deficiency attributable to TEFRA partnership adjustment that was not valid and the partner simply paid the deficiency amount without questioning it.
If your TEFRA partnership (eleven or more partners) is being audited, you need to know what is going on because your interest with the TMP may conflict.
If you are a partner in a TEFRA partnership that is being audited, you need someone from the outside of the partnership to inform you of your best plan of action that you should take.
What is TEFRA
Definition of ‘Tax Equity And Fiscal Responsibility Act Of 1982 – TEFRA’
Federal tax legislation passed in 1982 that modified some aspects of the Economic Recovery Tax Act of 1981 (ERTA). Both of these pieces of tax legislation took place during the Reagan Presidency.
Tax Equity And Fiscal Responsibility Act Of 1982 – TEFRA
The ERTA was a piece of tax legislation that greatly lowered income tax rates, and all very high rates were given a maximum of 50%. The TEFRA modified aspects of the ERTA which caused concern over potential large budget deficits.
TEFRA increased the tax received but not the tax rates. This was done by removing some of the tax breaks businesses received in the ERTA, such as the increase in the amount of accelerated depreciation that a company could deduct.
This chapter is designed to give the reader a basic understanding of TEFRA (the Tax Equity and Fiscal Responsibility Act of 1982) and is not intended to be a fully comprehensive work. Certain topics are covered by referencing statutes, regulations, or the Internal Revenue Manual (IRM) rather than by way of narrative text.
The Resources section lists several published sources which, when viewed together, should present a fully comprehensive and up-to-date picture of TEFRA.
In addition, there is a web-based self-study course, TEFRA Basics, which can be taken online at the Enterprise Learning Management System (ELMS) website.
Once you have registered and created a profile on the ELMS website, TEFRA Basics can be found as ELMS Component Number: 11381.
Another important TEFRA tool for the examiner is the IRS Intranet consolidated TEFRA website.
This chapter will address TEFRA only as it applies to TEFRA partnerships and TEFRA related partners. It is important to note that Limited Liability Companies (LLCs) and Real Estate Mortgage Investment Conduits (REMICs) that file a Form 1065, U.S. Return of Partnership Income, and their respective members are also subject to TEFRA administrative and judicial procedures and treated in a manner similar to TEFRA partnerships and their partners.
IRC section 6244 extended the TEFRA partnership provisions to S corporations for tax years beginning after 1982. The Small Business Job Protection Act of 1996 repealed the TEFRA administrative and judicial procedures for S corporations for tax years beginning after Dec. 31, 1996.
TEFRA as it applies to S corporations and REMICs will not be covered in this chapter. Non-TEFRA partnership statute considerations and procedures are also not covered in this overview. The procedural differences between TEFRA and non-TEFRA are significant.
IRC sections 6221 through 6234 govern audit, administrative, and judicial procedures, as well as certain filing requirements to be used by entities qualifying as TEFRA partnerships.
These procedures are commonly referred to as “unified proceedings”, “TEFRA proceedings”, and “partnership proceedings.” These Code sections provide that examination, administrative, and judicial actions are to be conducted at the partnership-level.
Final Regulations
Final Regulations were issued and are effective for taxable years beginning on or after October 4, 2001 (66 FR 50541, Treas. Reg. sections 301.6221-1 through 301.6233-1). For taxable years beginning before October 4, 2001, the Temporary Treasury Regulations continue to govern (see Treas. Reg. section 301.6221-1(f)). The Final Treasury Regulations are substantially similar to the temporary regulations.
TEFRA – Tax Audits – IRS Representation, Former Agents
