by Jim Magary | Nov 2, 2015 | Tax Help
We are an “AFFORDABLE PROFESSIONAL TAX FIRM” composed of Former IRS Agents and Managers
Let us fight for you, we know the system!
Since 1982, we are a full service tax firm that specialize in IRS and state tax services. We have over 206 years of professional tax experience.
All our work is done in-house. We specialize in IRS tax problem help services.
Some of our IRS Tax Services
We can remove an IRS tax levy garnishment within 24 hours of receiving your current financial statement, talk to you about the removal of a federal tax lien, represent you during an IRS tax audit, file any and all back tax returns and talk you about the settlement of your tax debt through the offer in compromise.
We are uniquely qualified to help you with any IRS problem or matter. From a very simple IRS notice or letter to going to Tax Court, we have a solution.
In cases in which back taxes are owed, your financial statement is the key to tax resolution.
IRS Tax Levies & Garnishments
The Internal Revenue Service levies approximately 1.8 million taxpayers each and every year and this figure includes and bank & wage garnishments.
If you have been levied you are not alone.
If you have not responded to an IRS final notice they systematically send out an IRS tax levy from their CADE2 computer system.
As a general rule, IRS sends out a series of billing notices to the last known address. The IRS billing notices or five weeks apart. If you do not respond to the IRS last notice, the 1058, you can expect the tax lien or tax levy to show up within 30 days of receiving the notice.
Before IRS will release the levy many times they want all on file tax returns in their hand to make sure you are in full compliance.
The IRS files close to 700,000 federal tax liens each and every year that will both ruin and destroy your credit.
Before IRS will remove a tax levy or wage garnishment they will need a current and verifiable financial statement.
If the cases in the local office the revenue officer will require form 433a. The revenue officer is a much more seasoned IRS agent and especially geared for higher dollar IRS collection cases.
Once we have your current verified financial statement in hand, we can usually get your tax levy or garnishment released within 24 hours.
It is important that your financial statement is completely documented.
IRS usually closes a case by putting a case in a:
- tax hardship,
- having a taxpayer go into a monthly installment agreement or
- 3.telling them they may qualify for an offer in compromise your tax debt settlement.
40% of all people who owe IRS tax debt have their cases put into what is called a currently not collectible file and 6.5 million taxpayers have their cases put into current installment agreement or payments.
Please remember your current financial statement will determine the outcome of your case therefore it is critical to have a tax professional complete the financial information.
If you have back tax returns to file, you can have former IRS agents ensure that you are paying the lowest amount of tax allowed by law.
If you wish to settle your tax debt, we can have former IRS revenue officers who worked the offer in compromise program settle your tax debt if and only if you were a true candidate for a tax debt settlement called an offer in compromise. We do not file an offer in compromise for a tax debt settlement unless you are a qualified candidate.
Approximately 40% of all taxpayers who file an offer in compromise get accepted by the Internal Revenue Service however you must be a qualified candidate.
The average settlement is $6500 per case but that is just the national average.
Call us today for a free initial tax assessment.
When you call our office you will speak to a true IRS tax professional about the resolution of your case.We’re the fast, friendly, and affordable professional tax firm.
We are a nationwide firm serving in all states.
Affordable IRS Tax Problem Help + IRS Levy Garnishments + Tax Liens + IRS Audits + Back Tax Returns + Offer Settle Tax + Payments
by Jim Magary | Nov 2, 2015 | Tax Help
Medical and Dental Expenses
If you itemize your deductions for a taxable year on Form 1040, Schedule A (PDF), you may be able to deduct expenses you paid that year for medical and dental care for yourself, your spouse and your dependents.
For years beginning after December 31, 2012, you may deduct only the amount of your total medical expenses that exceed 10% of your adjusted gross income or 7.5% if you or your spouse is 65 or older.
The 7.5% limitation is a temporary exemption starting January 1, 2013 to December 31, 2016 for individuals age 65 and older and their spouses. You figure the amount you are allowed to deduct on Form 1040, Schedule A.
Definition:
Medical care expenses include payments for the diagnosis, cure, mitigation, treatment, or prevention of disease, or payments for treatments affecting any structure or function of the body.
Deductible medical expenses may include but are not limited to the following:
Payments of fees to doctors, dentists, surgeons, chiropractors, psychiatrists, psychologists, and nontraditional medical practitioners
Payments for in-patient hospital care or nursing home services, including the cost of meals and lodging charged by the hospital or nursing home
Payments for acupuncture treatments or inpatient treatment at a center for alcohol or drug addiction, for participation in a smoking-cessation program and for drugs to alleviate nicotine withdrawal that require a prescription
Payments to participate in a weight-loss program for a specific disease or diseases diagnosed by a physician, including obesity, but not ordinarily payments for diet food items or the payment of health club dues
Payments for insulin and payments for drugs that require a prescription
Payments made for admission and transportation to a medical conference relating to a chronic disease that you, your spouse or your dependents have (if the costs are primarily for and essential to necessitated medical care). However, you may not deduct the costs for meals and lodging while attending the medical conference
Payments for false teeth, reading or prescription eyeglasses or contact lenses, hearing aids, crutches, wheelchairs, and for guide dogs for the blind or deaf
Payments for transportation primarily for and essential to medical care that qualify as medical expenses, such as payments of the actual fare for a taxi, bus, train, ambulance, or for medical transportation by personal car, the amount of your actual out-of-pocket expenses such as for gas and oil, or the amount of the standard mileage rate for medical expenses, plus the cost of tolls and parking fees
Payments for insurance premiums you paid for policies that cover medical care or for a qualified long-term care insurance policy covering qualified long-term care services. However, if you are an employee, do not include in medical expenses the portion of your premiums treated as paid by your employer under its sponsored group accident, health policy or qualified long-term care insurance policy.
Also, do not include the premiums that you paid under your employer-sponsored policy under a premium conversion policy (pre-tax), paid by an employer-sponsored health insurance plan (cafeteria plan) or any other medical and dental expenses unless the premiums are included in box 1 of your Form W-2 (PDF), Wage and Tax Statement.
For example, if you are a federal employee participating in the premium conversion program of the Federal Employee Health Benefits (FEHB) program, you may not include the premiums paid for the policy as a medical expense since they are never included in your gross income.
If you are self-employed and have a net profit for the year, you may be eligible for the self-employed health insurance deduction. This is an adjustment to income rather than an itemized deduction for premiums you paid on a health insurance policy covering medical care including a qualified long-term care insurance policy covering medical care for yourself and your spouse and dependents.
See Chapter 6 of Publication 535 for eligibility information. If you do not claim 100% of your self-employed health insurance deduction, you can include the remaining premiums with your other medical expenses as an itemized deduction on Form 1040, Schedule A (PDF).
You may deduct as an expense any medicine or drug that is a prescribed drug or is insulin (even if such drug is available without a prescription).
A prescription means a written or electronic order for a medicine or drug that meets the legal requirements of a prescription in the state in which the medical expense is incurred and that is issued by an individual who is legally authorized to issue a prescription in that state.
You may not deduct funeral or burial expenses, over-the-counter medicines, toothpaste, toiletries, cosmetics, a trip or program for the general improvement of your health, or most cosmetic surgery.
You may not deduct amounts paid for nicotine gum and nicotine patches, which do not require a prescription.
You can only include the medical expenses you paid during the year and you can only use the expenses once on the return.
You must reduce your total deductible medical expenses for the year by any reimbursement of deductible medical expenses and expenses used when figuring other credits or deductions.
This is true whether you receive the reimbursement directly or if it is paid directly to the doctor, hospital or other medical provider.
To determine whether an expense is deductible, see Can I Deduct My Medical and Dental Expenses? on IRS.gov.
For additional information on medical expenses, including who will qualify as your dependent for purposes of the deduction, how to figure and how to report the deduction on your return, see IRS Publication 502, Medical and Dental Expenses.
Call us today and we can help audit proof your tax return.
by Jim Magary | Nov 2, 2015 | Tax Help
AFFORDABLE former IRS agents and managers we can get your IRS tax levy garnishment released and your case closed all at the same time.
Over 60 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service.
We know the system so well we taught tax law to new IRS agents. We also taught at the regional training centers.
If you have received an IRS tax levy, wage garnishment levy or wish to settle your tax debt call us today and hear the truth from IRS tax experts who have been in practice since 1982.
We know and understand the fastest and the most affordable way to go ahead and get a removal or release of an IRS tax or wage garnishment levy and settle your case to stop the IRS.
Your financial statement is the key to fast IRS wage garnishments and bank levies.
It is very important to know the IRS system to make this a seamless resolution.
The Process to get your Tax Levies Removed
IRS Tax Levies+ Bank and IRS Wage Garnishments
As former IRS agents we filed hundreds of tax levies so we understand the process and have a streamlined process to get an IRS tax Levy, Bank Levy wage garnishment levy released.
IRS Tax fact:
IRS levies 1.9 million taxpayers every year.
IRS files over 900,000 federal tax liens every year.
IRS levies because taxpayers do not respond to final notices that are sent as a result of 1058 letters. IRS sends those final notices the last known address. the burden of proof is on the taxpayer to let IRS know that they have changed addresses.
Many taxpayers find out about levies because IRS have been sending notices to wrong addresses.
If you have not responded to IRS as a result of that tax notice within six weeks of those dates you can expect an IRS bank or wage garnishment levy. IRS may follow that up with the filing of a federal tax lien.
You want to make sure IRS withholds the filing of the federal tax lien because it is very damaging to your credit report.
Before IRS releases a tax levy, bank tax levy or wage garnishment they will want a current financial statement to make a determination of how to close your case off the IRS enforcement computer.
That financial statement will be on IRS form 433F that you can find directly on our website.
This financial statement will need to be fully documented including copies of bank statements, pay stubs, and proof of all monthly expenses.
IRS will do a close analysis of your statement with that of the national, and localized standards. You can find the acceptable standards on our website. Both the US trustee in bankruptcy and the IRS uses same standards.
IRS will then release your IRS tax Levy, bank levy or wage garnishment and close your case generally with a payment agreement or by placing you in hardship.
How IRS will close your case:
Approximately 6.5 million taxpayers have their cases resolve via a payment agreement and 40% of those get resolved through an IRS tax hardship.
Your financial statement will determine the way IRS deals with your situation.
LEVY RELEASE – Your levy can usually be released within 24 hours of IRS receiving your financial info.
If you owe tax to the IRS and need to settle your tax debt contact us today and we can get your IRS tax Levy, bank levy or wage garnishment released and your case settle all at the same time.
IRS will also expect all your tax returns to be current and filed.
We are A+ rated by the Better Business Bureau and have been in private practice since 1982.
REMOVE NOW IRS Tax Levy, Wage Garnishment & Settle Tax Debt + Unfiled Tax Returns = Fast Affordable = Former IRS
by Jim Magary | Nov 2, 2015 | Tax Help
We are an “Affordable Professional Tax Firm” that specializes in IRS and state tax resolution. We are former IRS Agents & Managers who know the system, since 1982.
We have been in private practice since 1982 and are true affordable tax experts in resolving individual, business and payroll taxes debt. We have over 206 professional tax experience.
If you owe the Internal Revenue Service back taxes or back tax debt, it only makes sense to hire former IRS agents and managers who know the system inside and out.
We understand all the protocols and systems to affordably and swiftly deal with any IRS tax issue so we can reduce and resolve your IRS or State Tax Problem.
We can help anyone who owes any federal, State, individual, business, or payroll taxes including those who have not filed back tax returns and those wishing to settle IRS tax debt.
We have over 60 years of direct work experience at the Internal Revenue Service in the local, district, and regional tax offices of the IRS.
If you owe back taxes whether it be individual, business/corporate, back payroll taxes contact us today and we can review with you different tax solutions to go ahead and permanently and immediately remedy your problem from the Internal Revenue Service.
Filing of Tax Returns
If you have not file tax returns, our former IRS agents can prepare your back tax returns with little or no records and settle your tax debt at all at the same time.
Make sure you file your back tax returns because IRS enjoys the privilege of filing your back tax returns under 6020 B of the code if you fail to file back taxes.
They will file your return to make sure you pay the highest amount allowed by law. If this is happened to you, you can file for an IRS audit reconsideration.
IRS Required Financials Statements (must be on their forms )
If you owe back taxes and as a general rule your financial statement will determine how IRS will close your settle your case. Form 433F. The completion of your financial statement is one of the keys to deal with the Internal Revenue Service.
If you owe individual, business or payroll taxes, we will take a current financial statement contact the IRS and work out an affordable individual or business payment plan and/or file and settle the tax if applicable.
It is critical that you understand the importance of your current financial statement because it will determine the outcome of your case.
Your last 3 to 6 months of your financial condition is IRS’s determining factor on your case resolution.
Most cases in which back tax debt is owed to Internal Revenue Service will require a current and verifiable financial statement.
You can find those financial statements directly on our website.
When you call us we will give you the financial statement applicable to your case.
As a general rule, when taxpayers or businesses owe back individual or payroll taxes, IRS closes case out by putting them into hardships, asking for payments or the settlement through the offer in compromise.
These are the three most common ways that IRS close cases off their enforcement computer.
1.40% of all taxpayers that owe back taxes to the IRS get put in the tax hardships,
2. 6.5 million people get put into payment plans and
3. 40,000 people get offers in compromise accepted.
We will explore every option and can get you the very best possible tax settlement.
Since 1982 we have been resolving IRS tax debt for individuals, businesses and corporations that owe back federal taxes including payroll tax debt.
If you are undergoing IRS tax audit, we can have a former IRS audit manager represent you and provide your best possible tax defense.
Call us today for a free initial tax consultation. Speak to true tax experts.
IRS Taxes Debt Help = Owe Back Taxes = Individual, Business, Payroll Taxes + Not Filed Tax Returns + Trust Fund Taxes – Settle with IRS
by Jim Magary | Nov 2, 2015 | Tax Help
We are the “AFFORDABLE” professional tax firm with over 206 years of professional tax experience, since 1982.
We have over 60 years of direct work experience in the local, district and regional tax offices of the Internal Revenue Service.
We have worked as IRS supervisors, as managers, and teachings instructors.
We know the system inside and out. If you have any sort of IRS problem contact us today and we can review with you various solutions to go ahead and help with an IRS final notice, certified mail, intent to levy, the filing of a federal tax lien, payment plans and the settling of your case through an offer a compromise.
We will thoroughly review your case and go over various options and remedies to completely end your IRS problem or situation. there are generally four ways to go ahead and remedy your problem with the Internal Revenue Service. upon her free initial consultation we will review each way and find out which service you are eligible for.
If you have received an IRS final notice, we can stop IRS today with the simple filing of a power of attorney and with a direct IRS conversation.
We handle all correspondence and you will never communicate with the Internal Revenue Service.
You will never have to speak to the IRS.
We can talk to you about the removal or the filing a federal tax liens, work out a payment plan, release a tax levy or talk to you about settling your debt to the offer in compromise program.
Through the new IRS fresh start initiative many more taxpayers are settling their debt for pennies on a dollar, however you must be a qualified candidate.
There is a pre-qualifier tool we will review with you.
If you are going to owe back taxes and wish a payment plan or which to reach a settlement with them, call us today for a free initial tax consultation. The systems are very simple within 10 minutes you will be completely educated on how to make the best decision for your current financial condition and situation.
Your current financial system will indicate the type of way IRS will close case.
IRS Tax Billing Notices, its systematic If IRS sends you a document it is time sensitive and taxpayers must follow-up on all time sensitive letters.
Never ignore an IRS tax notice, they will follow-up and do exactly what they say.
Once a tax return is filed or IRS initiates a tax assessment, IRS sends out a series of five notices and those notices are sent five cycles or five weeks apart.
IRS has the option, depending on the dollar amount and the history of the taxpayer to speed up those assessments.
These IRS tax notices are all sent out in five-week billing cycles.
1. CP 14 – This is the notice of balance due,
2.CP 501 – This is a Bill that you still owe tax,
3. CP503 – Important, Immediate Action Required
4. CP 504 – Urgent Notice – We Intend to Levy on Certain Assets, Please Respond Now
5. CP90/CP297/ – IRS Letter 1058 – Final Notice of Intent to Levy of Your Right to a Hearing
6.CP 91- CP298 -Final IRS Notice, You must answer his Notice! It is important for taxpayers to keep up with their tax bills because lets you know where you are in the system.
You can find the CP notices in the top right corner of the bills. It is extremely important you follow up on all final notices if not the Internal Revenue Service will plan to follow up with enforcement action.
We can prepare all back tax returns with or without records.
Call us today for free initial tax consultation. When you call our office you will speak to true IRS tax experts.
