by Jim Magary | Jun 30, 2015 | Tax Help
FST, over 60 years of direct IRS work experience, the affordable choice. We know the system inside and out.
I was a former IRS agent and teaching instructor of the offer in compromise program at the Internal Revenue Service. I worked in the local, district, and regional tax offices of the IRS.
I caution everyone before filing an offer to make sure they are qualified candidate.
It is very important you walk to the pre-qualifier tool before you waste time or money to make sure you’re truly qualified to be accepted to the program.
Last year approximately 78,000 offers in compromise were filed with the Internal Revenue Service and approximately 38,000 of those were accepted. The average settlement was $6500 per case.
Call our office for a free initial tax consultation and find out whether you are a qualified candidate to file for offer in compromise. I caution looking to settle their debt for pennies on the dollar to make sure you find a qualified firm and true specialist. There are many ripoff artists out there that claim to settle your debt for pennies on the dollar make sure you check the firm out well before you give them any money.
Fresh Start Tax LLC
Have former IRS agents and managers settle your tax debt with the IRS, since 1982, A+ rated BBB. The affordable tax firm!
We are composed of former IRS agents and managers who were former employees of the Internal Revenue Service.
We have over 60 years of direct work experience in the local, district, and regional tax offices of the Internal Revenue Service.
The writer of this blog is a former revenue officer who both worked and was a former teaching instructor of the offer in compromise which is the way IRS settles IRS tax debt. Not only did I work the program at the Internal Revenue Service of the offer compromise, I was a teaching instructor. I know the program inside and out.
You can call us today for free initial tax consultation and find out if you are a true offer in compromise tax debt settlement candidate.
It is important to know you will that all back tax returns will have to be filed, up-to-date and current on the IRS computer system before the Internal Revenue Service will accept an offer in compromise. IRS always conducts a full compliance check to make sure all tax returns are on their system.
Many times IRS looks to reject offers rather than accept them because of the sheer amount of work it takes to get one approved by management. Rejecting the offer based on a lack of filing is the easiest way for IRS to reject your offer.
The best thing that you can do was walk through the pre-qualifier tool to make sure you’re a qualified candidate or call our office today and we will walk you through the process.
Offer in Compromise
Please use the most current revision of Form 656-B in preparing and submitting your Offer in Compromise.
Use of outdated forms and instructions may cause a delay in the processing of your offer application.
An offer in compromise allows you to settle your tax debt for less than the full amount you owe.
It may be a legitimate option if you can’t pay your full tax liability, or doing so creates a financial hardship.
IRS considers your unique set of facts and circumstances:
• Ability to pay;
• Income;
• Expenses; and
• Asset equity.
IRS generally approve an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time.
Make sure you are eligible
Before IRS can consider your offer, you must be current with all filing and payment requirements.
You are not eligible if you are in an open bankruptcy proceeding.
Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.
Submit your offer
You’ll find step-by-step instructions and all the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B (PDF). Your completed offer package will include:
• Form 433-A (OIC) (individuals) or 433-B (OIC) (businesses) and all required documentation as specified on the forms;
• Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;
• $186 application fee (non-refundable); and
• Initial payment (non-refundable) for each Form 656.
Select a payment option
Your initial payment will vary based on your offer and the payment option you choose:
• Lump Sum Cash: Submit an initial payment of 20 percent of the total offer amount with your application.
Wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.
• Periodic Payment: Submit your initial payment with your application. Continue to pay the remaining balance in monthly installments while the IRS considers your offer. If accepted, continue to pay monthly until it is paid in full.
If you meet the Low Income Certification guidelines, you do not have to send the application fee or the initial payment and you will not need to make monthly installments during the evaluation of your offer. See your application package for details.
Understand the process
While your offer is being evaluated:
• Your non-refundable payments and fees will be applied to the tax liability (you may designate payments to a specific tax year and tax debt);
• A Notice of Federal Tax Lien may be filed;
• Other collection activities are suspended;
• The legal assessment and collection period is extended;
• Make all required payments associated with your offer;
• You are not required to make payments on an existing installment agreement; and
• Your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.
We are A+ rated by the Better Business Bureau and have been in private practice since 1982.
We are a full-service professional tax firm that has a unique expertise in the resolution of all IRS tax matters.
Broomfield + Offer in Compromise, Settle with IRS Debt + Former IRS Agent & Offer Specialist + Settle For Less
by Jim Magary | Jun 29, 2015 | Tax Help
We are an “AFFORDABLE” PROFESSIONAL Tax Firm, 24 hours of receiving your current financial statement we can get an IRS Tax Levy, Bank Levy, Wage Garnishment levy released & your case settled, guaranteed !!!
We have worked out of the local, district, and regional tax offices of the Internal Revenue Service. We are true IRS tax experts. We have worked his IRS supervisors, managers and teaching instructors.
Because of our years of experience working at Internal Revenue Service we know the system to get immediate releases of an IRS tax levy, IRS bank levy or IRS wage garnishment. Not only can we get your tax levy released or removed we can also settle your case at the same time.
We have worked in the system for over 60 years and understand the protocols and the internal revenue manual’s to get your levy released in your case closed with IRS.
On our staff have been IRS managers, supervisors, and teaching instructors with the IRS.
We’ve been practicing since 1982 and are A+ rated by the Better Business Bureau.
Get your IRS tax levy, bank levy wage levy garnishment tax levy released.
As a general rule, if taxpayers do not respond to final notice is sent by IRS, the Internal Revenue Service is required to send out a tax levy.
It is important to respond to all IRS requests by mail.
As a general rule no human hand touches IRS mail, it is all set out systemically by the IRS Cade 2 computer. IRS generally sends out five billing notices and then the important 1058 that lets you know an IRS tax levy is to follow.
Once again you must answer all IRS mail and all IRS information is time sensitive. IRS will follow-up on all correspondence. Make sure you not bury your head in the sand thinking this would go away.
The Internal Revenue Service sends out notices out notices on five-week billing cycles.
To find out where you are in the system, look on the top right corner, it’ll let you know a code number and experienced tax professional can let you know where you are in the IRS billing system
As a former IRS agent I can tell you that taxpayers stick their head in the sand and seal their own fate by not responding to the IRS final notice before seizure.
As a general rule, IRS sends out close to 1.9 million tax levies each year.
There is a difference be between an IRS federal tax levy in the federal tax lien.
A federal tax levy is a seizure a federal tax lien is a document to get placed at your courthouse.
A federal tax lien can stay on public court records for 10 years. they are generally released by full payment, statute expiration or accepted offer in compromise. The IRS filed 700,000 federal tax liens last year.
To get your IRS tax levy or wage garnishment released it will be necessary for you to give IRS a current documented financial statement along with making sure all your tax returns are filed in on IRS’s computer system.
It will be necessary for you to fully complete an IRS form 433F (an IRS financial statement) that you can find on our website along with supplying IRS with bank statements, pay stubs and copy of all monthly expenses. The Internal Revenue Service does a thorough review of your current financial statement before closing your case.
When you call our office we were thoroughly review your case, give you a free tax assessment and let you know the necessary steps to completely remove your IRS problem including releasing an IRS tax levy, or wage levy garnishment and settling your case all at the same time.
IRS will generally close your case by putting it into a tax hardship or asking for a monthly payment plan.
40% of all cases are put in the tax hardship and 6.5 million cases are put into monthly installment agreements. Even though these numbers change from year to year these are pretty close to yearly averages.
Offer in Compromise, Settlements
Last year IRS accepted 38,000 offers in compromise for average settlement of $6500 per case. Please keep in mind that is only an average.
Please Note : Your individual financial statement will determine how IRS will close your case.
Please keep in mind if you have unfiled or back to tax returns, the IRS has the option of not releasing a federal tax levy because you are not in full compliance with tax laws.
We can prepare any and all back tax returns with little or no records.
If you do not prepare your back tax returns, the IRS can prepare them and make sure you pay the most amount allowed by law under code section 6020B.
If you’ve lost your tax records we can reconstruct them through methods we have learned at the Internal Revenue Service.
Please call us today for a free initial tax consultation, since 1982.
We are the fast, friendly, and affordable professional tax firm.
Remove IRS Tax Levy NOW + IRS Bank Levy + Wage Garnishment + Owe Back Tax Debt + Unfiled Tax Returns + Former IRS + Parker, Northglenn, Englewood, Highlands
by Jim Magary | Jun 29, 2015 | Tax Help
We specialize in AFFORDABLE IRS tax debt relief. FST can stop and resolve IRS Problems NOW! Former Agents, we know the system.
Former IRS Agents who know the system. Call us today for a free initial tax consultation.
When you retain us, you will never have to speak to Internal Revenue Service. We are the AFFORDABLE professional tax firm. With over 60 years of working directly for the Internal Revenue Service we know the system!
If you need to resolve or settle you IRS tax debt call us today and speak directly to a true IRS tax expert. We have been resolving IRS tax debt problems on back taxes since 1982.
You will speak to a true affordable tax expert who will go over different options with you. you will hear every possible remedy to end your IRS tax problem.
We can prepare and file old or back tax returns and provide the best possible tax audit defense for IRS.
We have been in private practice since 1982 and are a full-service tax firm. We have a combined 206 years of professional tax experience.
Our former IRS revenue officers can help resolve any IRS tax debt our former IRS audit managers can help provide your best audit defense.
If you are in receipt of a bank or wage garnishment levy, within 24 hours we can release your tax Levy and close your case. We know the system.
Some tax facts.
The IRS audits less than 1% of all taxpayers each and every year,
the IRS settles close to 40,000 offers in compromise every year,
the IRS files 1.9 tax levies each and every year,
the IRS files close to 700,000 federal tax liens each and every year.
Call us today for free initial tax consultation.
You’ll hear the truth from former IRS agents and managers who know the system.
We are your very best possible IRS tax defense.
IRS Back Tax Debt + STOP IRS NOW + IRS Audit Defense + Unfiled Back Tax Returns + IRS Tax Levies – Offer Compromise + Parker, Northglenn, Englewood, Highlands
by Jim Magary | Jun 29, 2015 | Tax Help
The fast and affordable professional tax firm. We can get your IRS tax levy released within a 24-hour period of time and close your case at the same time. We know the system!
If you are in receipt of an IRS tax levy, wage levy or bank levy garnishment contact us today and we can get your tax levy released in your case closed. Since 1982 we have been resolving all IRS problems.
We will speak with you about settling your tax debt to the offer in compromise program. I am a former IRS offer specialist and know the system inside and out.
Offer in Compromise
The Internal Revenue Service accepted 38,000 offers in compromise last year for average of $6500 per settlement. Remember this is the national average and does not apply for every case.
I am a former IRS agent and instructor of the offer in compromise program when I worked at IRS. I am a true IRS tax expert for tax settlements.
Taxpayers should be aware that there is a pre-qualifier tool for the offer in compromise program. I suggest everyone the walk through this particular tool given by Internal Revenue Service to find out for a qualified candidate. You can find that pre-qualifier tool on our website.
We do not file offers in compromise for taxpayers unless we know they are pre-qualified.
IRS Tax Levy Releases
Before IRS will release a tax levy, a wage garnishment or bank seizure Internal Revenue Service will need a current documented financial statement. You want to make sure you are accurate and honest on your financial statement.
If your case is in the automatic collection system you will be filling out and documenting form 433F which you can find directly on our website.
When calling our office we will complete the form, speak to the Internal Revenue Service and within 24 hours of having your fully documented financial statement we can get your IRS tax levy released.
If the cases are in the local IRS office form 433 a will be required and a much more detailed investigation will be made on your current financial statement. If this is the case a revenue officer out of the local office will be looking at your case.
Being a former IRS agent teaching instructors gives us a huge advantage and the benefit of our experience is invaluable to our clients.
The filling out of your financial statement is critical into the settlement of your case. using former IRS agents and managers will give you a tremendous advantage. We understand and have knowledge of the system.
With that current financial statement you will need to provide IRS the last three months of your bank statements, copies of your pay stubs and your monthly expenses.
As a general rule IRS will not release your levy until all your tax returns are filed.
It is important you file all back tax returns if not the IRS can file for you under 6020 B of the Internal Revenue Code and they will make sure you get no deductions.
IRS will not give any non-filer any deductions or exemptions that they prepare under 6020B.
We can prepare all back, past-due and not file tax returns with little or no records.
As a side note, is important to answer any IRS correspondence as it is time sensitive and IRS will follow up on every letter. Whatever you do, do not keep your head in the sand and make sure you stay diligent in resolving your IRS problem.
After the review of your IRS financial statement we can let you know whether you are a possible debt settlement candidate for the offer in compromise program.
We’re the fast, friendly, and affordable professional tax firm that has been in private practice since 1982. We are true IRS tax experts.
Remove IRS Tax Levy NOW = Bank, Wage Garnishment + File Back Returns + Offer in Compromise = FORMER IRS + Parker, Northglenn, Englewood, Highland
by Jim Magary | Jun 29, 2015 | Tax Help
We have over 60 years with the IRS in the local, district and regional tax office of IRS. We know the System, let our knowledge work for you! ” The AFFORDABLE professional tax firm.”
We are A+ rated by the Better Business Bureau and have been in private practice since 1982. We have over 206 years of professional tax experience. We know the system inside and out.
If you owe back taxes to the Internal Revenue Service and are looking for IRS tax debt relief on a federal, individual, business or payroll tax matter, call us today and hear the truth about your case. We have been resolving taxpayers IRS debt issue since 1982.
FST staffers has over 60 years of working directly for the Internal Revenue Service and understand the system inside and out.
Our former IRS agents have worked as managers, supervisors, and teaching IRS instructors.
We are the affordable solution if you owe back IRS tax debt on individual, business or payroll taxes.
We can handle anything from a simple notice or letter going to tax court.
In dealing with the IRS on back taxes it is important to know for any individual, business or payroll tax case that you be current fully compliant with all filings and current tax deposits.
That is, IRS will want you current in your withholding, estimate or current payroll tax deposits.
The Internal Revenue Service may refuse to work with all clients who cannot keep up with current payment requirements.
FST will lay out a complete working system for you to cooperate with Internal Revenue Service to ensure that you will get to deal you are looking for with the IRS, one that you can live with.
You will learn what you need to do with the true IRS tax expert and will walk you through the process to help educate you and to relieve any stress you are currently going through.
Current financial statement. 433F 433A
Your current financial statement will determine how the Internal Revenue Service will close your case. This is applicable for all individual, business and corporate clients.
If you are dealing with the ACS unit you will need to use financial statement number 433F if you are dealing in the local office you will need financial statement form 433 a, both can be found on our website.
That financial statement will need to be completely verified and documented to support the numbers on it. IRS will do a thorough review on your financial statements so you want to make sure your accurate and honest.
IRS will want to verify your financial statement via bank statements, copy of monthly expenses and a copy of pay stubs to verify income. after reviewing your financial statement we will give you a list of other documents the IRS may require.
When you call our office and know that all work is done in-house by a truly seasoned and professional tax staff.
We are the fast, friendly professional tax firm when it comes to dealing with those who all back IRS taxes and are seeking IRS tax debt relief, we can handle all federal and state tax cases.
We can also prepare all back or unfiled tax returns and settle your tax debt all at the same time.
Call us today for a free initial tax consultation.
We’ve been practicing since 1982 and are A+ rated by the Better Business Bureau.
Owe Back IRS Taxes Debt = Federal, Individual, Business, Payroll Taxes + Unfiled Tax Returns + Settle Taxes + Former IRS + Parker, Northglenn, Englewood, Highlands Ranch
