by Jim Magary | Aug 18, 2015 | Tax Help
Truckers Highway Use Tax Return is due Aug. 31
The deadline generally applies to Form 2290 and the accompanying tax payment for the tax year that begins July 1, 2015, and ends June 30, 2016. Returns must be filed and tax payments made by Aug. 31 for vehicles used on the road during July.
For vehicles first used after July, the deadline is the last day of the month following the month of first use.
Though some taxpayers have the option of filing Form 2290 on paper, the IRS encourages all taxpayers to take advantage of the speed and convenience of filing this form electronically and paying any tax due electronically.
Taxpayers reporting 25 or more vehicles must e-file. A list of IRS-approved e-file providers can be found on IRS.gov.
The highway use tax applies to highway motor vehicles with a taxable gross weight of 55,000 pounds or more.
This generally includes trucks, truck tractors and buses.
Ordinarily, vans, pick-ups and panel trucks are not taxable because they fall below the 55,000-pound threshold.
The tax of up to $550 per vehicle is based on weight, and a variety of special rules apply, explained in the instructions to Form 2290.
by Jim Magary | Aug 18, 2015 | Tax Help
Get Your Payment Agreement Reinstated, get placed in a Hardship or Settle your Tax Bill once and for all.
I am a former IRS agent and teaching instructor and understand the system of IRS inside and out.
The Internal Revenue Service is an advocate of resolving IRS collection debt through the taking and analyzing of a 433F or 433A which is a IRS financial statement.
IRS on each case in which back taxes are owed ( some exceptions ) will take this current financial statement along with documentation and close cases as a general rule by placing you into an installment agreement, asking for a monthly payment, or you could consider the filing of an offer in compromise to settle your tax debt.
The Internal Revenue Service placed approximately 6.5million of all taxpayers who owed back taxes into current installment agreements.
Statistics show that approximately 40% of all those taxpayers eventually break the terms of their installment agreement with the Internal Revenue Service.
So what are you to do?
Many times you were forced into those installment payments because IRS did not use and apply the proper formulas and forced you into an agreement that you could not make or could not keep.
At fresh start tax, we take new financial statements and properly close your case with the Internal Revenue Service and make sure you can live with the arrangement between you and the Internal Revenue Service.
Call us today for free initial tax consultation and we will walk you through the process.
by Jim Magary | Aug 17, 2015 | Tax Help
We are an “AFFORDABLE “ professional tax firm that has been in private practices 1982. We can completely resolve your case!
If you wish to settle back IRS taxes can call us today to learn about the different systems IRS uses to settle back tax debt. Being former IRS agents we know the system.
If you have any back tax issues with the Internal Revenue Service or have not filed back income tax returns, we can result in settle your case all at the same time.
We have over 206 years of 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 IRS.
Fresh Start tax LLC is a much different firm than other companies.
We do our own work in-house, most companies sub their work out to backend offices.
We are staffed with tax attorneys, CPAs and former IRS agents. Our vast experience and knowledge with the Internal Revenue Service works in your favor.
If you want to settle your back taxes, IRS will require a current financial statement along with documentation.
IRS rules require only form 433F or 433A may be used along with bank statements, copy of pay stubs, and monthly expenditures.
The Internal Revenue Service will compare your expenses against your income and compare that to that of the national, regional, and localized standards and come up with the ruling. We can help turn that ruling in your favor. you can find the national, regional, and localized standards directly on our website.
All tax returns must be filed. Over 16 million taxpayers do not file annual tax returns.
At some point if you do not file the Internal Revenue Service will catch up with you do not keep your head in the sand
If you have not filed tax returns we can prepare your returns with little or no records do our reconstructive methods we learned IRS.
If you did not file your back tax returns, IRS can prepare them for you and you will owe more money than you should. IRS as the ability under 6020B to file for you.
If you do not respond to the IRS bills and notices they send out as a result of filing your tax returns IRS will follow-up with tax levies in the filing a federal tax liens
IRS levies approximately 1.9 million taxpayers each and every year.
We can remove an IRS tax or wage garnishment levy within 24 hours of receiving your current financial statement and or get you placed into a payment program or tax hardship depending on your situation.
Settling IRS Tax Debt
If you wish to settle your IRS tax that you will do have to do so through the offer in compromise program.
What is an Offer in Compromise
An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than the full amount owed.
If the liabilities can be fully paid through an installment agreement or other means, the taxpayer will in most cases not be eligible for a OIC.
In order to be eligible for a OIC, the taxpayer must have:
• filed all tax returns,
• made all required estimated tax payments for the current year, and
• made all required federal tax deposits for the current quarter if the taxpayer is a business owner with employees.
In most cases, the IRS will not accept a OIC unless the amount offered by the taxpayer is equal to or greater than the reasonable collection potential (the RCP). The reason for this is quite simple, the IRS can just sees the asset and collect the full value.
The RCP is how the IRS measures the taxpayer’s ability to pay.
The RCP includes the value that can be realized from the taxpayer’s assets, such as real property, automobiles, bank accounts, and other property. In addition to property, the RCP also includes anticipated future income, less certain amounts allowed for basic living expenses.
Most offers in compromises take any where between 20 hours to work by an IRS agent. Also if a the offer and compromise is accepted it becomes a matter of public record and is available for public inspection.
The offer in compromise or tax settlement stays on record for one year at the regional tax offices for public inspection. That’s right, you can walk right into a regional office and asked them to see their accepted offers in compromise.
The IRS may accept a OIC based on three grounds.
1. Acceptance is permitted if there is doubt as to liability. This ground is only met when genuine doubt exists under applicable law that the IRS has correctly determined the amount owed.
2. Acceptance is permitted if there is doubt that the amount owed is fully collectible. This means that doubt as to collectibility exists in any case where the taxpayer’s assets and income are less than the full amount of the tax liability.
3. Acceptance is permitted based on effective tax administration.
An offer in compromise may be accepted based on effective tax administration when there is no doubt that the tax is legally owed and that the full amount owed can be collected, but requiring payment in full would either create an economic hardship or would be unfair and inequitable because of exceptional circumstances.
We are a full service tax firm, since 1982. We are A+ rated by the Better Business Bureau. get help from true IRS tax professionals.
Settle Back IRS Taxes + Unfiled Tax Returns + IRS Levy’s + IRS Payments + IRS Problems = Former Agents * Fast Affordable
by Jim Magary | Aug 17, 2015 | Tax Help
If you are dealing with an IRS tax problem call us today, we are the “AFFORDABLE” professional tax firm with over 206 years of professional tax experience, since 1982.
True IRS Tax Experts! A plus Rated
We have over 60 years of direct work experience in the local, district and regional tax offices of the Internal Revenue Service.
We know the IRS system inside and out. We have worked as supervisors, as managers, and teachings instructors.
As former employees we taught new IRS agents their job. You want our years of experience working for you.
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 know how to stop the Internal Revenue Service. we will thoroughly review your case and go over various options and remedies to completely end your IRS problem or situation.
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 will pull IRS transcripts and give you a full case evaluation.
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.
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.
IRS Tax Billing Notices
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.
The IRS Billing Notices for those that owe IRS Back Taxes.
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!
IRS has the right in the option to skip certain billing notices based on the history and compliance of certain taxpayers. IRS has the right after a review of your case to simply send you a final notice. Please make sure you respond to all IRS final notices.
Call us today for free initial tax consultation and hear the truth about your case from true affordable tax experts.
IRS Final Notice Certified Mail + STOP IRS NOW + Intent to Tax Levy + IRS Lien Levy + Payment Plans + Settle Offer in Compromise, Unfiled Tax Returns
by Jim Magary | Aug 17, 2015 | Tax Help
We are an Affordable Professional full service IRS tax firm that specialize in the resolution of all IRS tax matters. We are specialists for those who owe IRS back payroll taxes, 941 tax debt.
Being a former IRS revenue officer and teaching instructor, I worked hundreds upon hundreds of payroll tax cases and I understand the complexities and have immediate resolution options to go over to resolve any IRS tax debt problem.
IRS is usually generally aggressive on back payroll tax issues.
I would advise all taxpayers to be current in the present quarter. IRS tends to work with businesses and taxpayers that are rehabilitative and are attempting to stay current.
Hiring a professional tax firm can keep IRS out of your business so you can continue to manage and make your business profitable.
Each and every case has a viable solution. The key is knowing every possible option.
If you do not understand the IRS methods, IRS can dictate the way they choose to work your case. the fear of dealing with Internal Revenue Service and the threats that they can make can force taxpayers into decisions that is not in their best interest.
Unless you know the way the Internal Revenue Service operates you have no idea what you’re truly settling for.
As a former IRS agent revenue officer I can tell you that most taxpayers have no clue what’s going on in as a general rule they will believe anything the agent is telling them.
Don’t be trapped or tricked in to this mentality. It is well worth hiring a professional tax firm to deal with your back IRS tax debt payroll problem.
Due to our years of experience with the IRS, we know exactly how to handle IRS and find success in dealing with those who all back payroll tax debt to the Internal Revenue Service.
When you work with us we will submit an immediate power of attorney so the Internal Revenue Service only deals with us and you will never have to speak to IRS.
We will secure and review the necessary financial statements, the 433A& 433B, and talk to you about working out a viable solution to protect your business from the Internal Revenue Service.
Taxpayer should beware that IRS will impose a 6672 penalty, or the trust fund penalty for those responsible persons who were authorized to pay the back payroll taxes.
If the Internal Revenue Service imposes the trust fund penalty against you is like only individual taxes. The IRS will send you a series of notice and has the right to send out federal tax liens and tax levies to ensure compliance.
6672 Penalty and the Trust Fund Penalty
a) General rule
Any person required to collect, truthfully account for, and pay over any tax imposed by this title who willfully fails to collect such tax, or truthfully account for and pay over such tax, or willfully attempts in any manner to evade or defeat any such tax or the payment thereof, shall, in addition to other penalties provided by law, be liable to a penalty equal to the total amount of the tax evaded, or not collected, or not accounted for and paid over.
No penalty shall be imposed under section 6653 or part II of subchapter A of chapter 68 for any offense to which this section is applicable.
(b) Preliminary notice requirement
(1) In general
No penalty shall be imposed under subsection (a) unless the Secretary notifies the taxpayer in writing by mail to an address as determined under section 6212 (b) or in person that the taxpayer shall be subject to an assessment of such penalty.
(2) Timing of notice
The mailing of the notice described in paragraph (1) (or, in the case of such a notice delivered in person, such delivery) shall precede any notice and demand of any penalty under subsection (a) by at least 60 days.
(3) Statute of limitations
If a notice described in paragraph (1) with respect to any penalty is mailed or delivered in person before the expiration of the period provided by section 6501 for the assessment of such penalty (determined without regard to this paragraph), the period provided by such section for the assessment of such penalty shall not expire before the later of—
(A) the date 90 days after the date on which such notice was mailed or delivered in person, or
(B) if there is a timely protest of the proposed assessment, the date 30 days after the Secretary makes a final administrative determination with respect to such protest.
(4) Exception for jeopardy
This subsection shall not apply if the Secretary finds that the collection of the penalty is in jeopardy.
Definition of wilfulness
1. The trust fund recovery penalty is a civil penalty; so the degree of wilfulness in failing to collect or pay over any tax leading to liability for this penalty is not as great as that necessary for criminal proceedings.
wilfulness in the context of the TFRP is defined as intentional, deliberate, voluntary, and knowing, as distinguished from accidental. “wilfulness” is the attitude of a responsible person who with free will or choice either intentionally disregards the law or is plainly indifferent to its requirements. Some factors to consider when determining wilfulness are:
• Whether the responsible person had knowledge of a pattern of noncompliance at the time the delinquencies were accruing;
• Whether the responsible person had received prior IRS notices indicating that employment tax returns have not been filed, or are inaccurate, or that employment taxes have not been paid;
• The actions the responsible party has taken to ensure its Federal employment tax obligations have been met after becoming aware of the tax delinquencies; and
• Whether fraud or deception was used to conceal the nonpayment of tax from detection by the responsible person.
Call us today for a free initial tax consultation and hear the truth. we will go over with you every option to go ahead and settle your tax debt with the Internal Revenue Service.
Owe IRS Payroll + Keep IRS Out of Your Business + 941 Payroll Tax Debt Settlements + IRS Payment Plans + Former IRS Agents Can Help
