by Jim Magary | Aug 10, 2015 | Tax Help
We are Affordable IRS Tax Experts. We have been in practice since 1982, Former IRS, A plus rated by the BBB.
We can resolve IRS Payroll Tax Debt.
If you owe back IRS tax debt and wish to settle your case with the IRS, call us today for a free initial tax consultation.
When you call our office you will speak directly to former IRS agents, managers and tax instructors that have over 60 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the IRS.
Based on your set of circumstances we can accurately predict the outcome of your case. Once we have reviewed your current financial statement as a general rule we will tell you exactly how your case is going to close.
We can review with you the best possible way to end your payroll tax problems, make an IRS payment plan, how to remove an IRS tax levy and to represent you during an IRS tax audit.
For those of you who need to file tax returns whether current or back years, call us today and we will walk you through the process of our learning experiences that total 206 years. We can file your back tax returns with little or few records.
IRS Installment Agreements or IRS Payment Plan Agreements
Last year the Internal Revenue Service granted close to 6.5 million IRS payment plans, installment agreements and streamlined payment plans to taxpayers. Your current financial statement will determine if you are installment agreement candidate.
It is important you have a tax professional fill out your financial statement. Keep in mind your financial statement will need to be fully documented.
Call us today for free initial tax consultation and we will walk you through the process to get you an IRS payment plan, installment agreement or tell you how to make an affordable monthly streamlined payment with the Internal Revenue Service.
Offer in Compromise/ IRS Tax Settlements
We can also talk you about the possible tax solution of settling your tax debt through the offer in compromise program, that is settling your tax debt for pennies on the dollar.
The way you can settle your tax debt for pennies on the dollar is through the offer in compromise program.
The offer in compromise program is not for everyone.
When you call our office you will speak directly to a former IRS agent who both worked and taught the program for IRS. The writer of this blog is a former IRS agent and teaching instructor.
Remove an IRS Tax Levy IRS Bank Levy, IRS Wage Garnishments
If you wish to remove an IRS tax levy will need to give IRS a current financial statement on form 433F.
IRS will require that financial statement to be completely documented and verified.
Within 24 hours of receiving your current financial statement as a general rule we can get your bank or wage levy garnishment released. We will let you know about the IRS national standard program so you understand the process of how IRS settles tax debt.
Need to file back tax returns
You could have a former IRS agent who knows the system prepare your back tax returns with little or few records. We can help audit proof your tax return.
We are A+ rated by the Better Business Bureau, since 1982.
IRS Taxes + Owe Back Payroll Taxes + Trust Fund + Payment Plans + Settlements = Former IRS + New York, Brooklyn, Borough of Queens, Manhattan, Bronx
by Jim Magary | Aug 10, 2015 | Tax Help
Understanding Your Letter 5591
File your 2014 federal tax return with Form 8962, Premium Tax Credit, as soon as possible to protect your eligibility for assistance with paying for your or your family’s Marketplace health insurance coverage in 2016.
What you need to do
• Read your letter carefully.
• Review the situation to see if you agree with the information in the letter.
• File your 2014 tax return with Form 8962 as soon as possible, even if you don’t normally have to file.
• Use the Form 1095-A that you received from your Marketplace to complete Form 8962. If you need a copy of your Form 1095-A, log in to your HealthCare.gov or state Marketplace account or call your Marketplace call center.
• If you have already filed your 2014 tax return with Form 8962, please disregard this letter.
You may want to…
• Visit IRS.gov/aca for more information on filing a 2014 tax return with Form 8962.
• File electronically to ensure you file a complete and accurate tax return.
• Visit IRS.gov/filing for more information about electronic filing options, or call us at 1-800-829-0922.
Answers to Common Questions
What is the Premium Tax Credit?
If you, your spouse, or any dependent you can claim on your tax return enrolled in 2014 health insurance coverage through the Health Insurance Marketplace, you may be eligible for the premium tax credit.
This tax credit helps make health insurance coverage more affordable for people with moderate incomes.
What is the Form 1095A?
You receive a Form 1095-A when you or a family member enroll in health insurance coverage through the Health Insurance Marketplace. Form 1095-A provides the information you need to complete Form 8962, Premium Tax Credit.
If you or your family members enrolled in the Marketplace in more than one qualified health plan policy, you will receive a Form 1095-A for each policy.
If you receive a Form 1095A, check the information on the form carefully. Please contact your Marketplace if you have questions about its accuracy.
What happens if I received advance payments of the Premium Tax Credit and don’t file a tax return?
You will not be eligible for advance payments of the premium tax credit or cost-sharing reductions to help pay for your Marketplace health insurance coverage in 2016.
This means you will be responsible for the full cost of your monthly premiums and all covered services.
In addition, the IRS may contact you to pay back some or all of the advance payments of the premium tax credit
by Jim Magary | Aug 7, 2015 | Tax Help
We are Affordable IRS Tax Experts. We have been in practice since 1982, Former IRS, A plus rated by the BBB.
If you owe back IRS tax debt and wish to settle your case with the IRS, call us today for a free initial tax consultation.
We are true affordable experts for all IRS tax problems and tax matters.
We can remove an IRS tax levy within 24 hours, represent you during an IRS tax audit, talk to you about entering into an IRS payment plan getting put into a tax hardship and file any and all back tax returns.
When you call our office you will speak directly to former IRS agents, managers and tax instructors that have over 60 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the IRS. We are true IRS tax experts.
We also taught tax law to new IRS agents.
We know the IRS inside and out. Based on your set of circumstances we can accurately predict the outcome of your case. Once we have reviewed your current financial statement as a general rule we will tell you exactly how your case is going to close.
We can review with you the best possible way to make an IRS payment plan, how to remove an IRS tax levy and to represent you during an IRS tax audit.
For those of you who need to file tax returns whether current or back years, call us today and we will walk you through the process of our learning experiences that total 206 years. We can file your back tax returns with little or few records.
IRS Installment Agreements or IRS Payment Plan Agreements
Last year the Internal Revenue Service granted close to 6.5 million IRS payment plans, installment agreements and streamlined payment plans to taxpayers. Your current financial statement will determine if you are installment agreement candidate.
It is important you have a tax professional fill out your financial statement. Keep in mind your financial statement will need to be fully documented.
Call us today for free initial tax consultation and we will walk you through the process to get you an IRS payment plan, installment agreement or tell you how to make an affordable monthly streamlined payment with the Internal Revenue Service.
Offer in Compromise/ IRS Tax Settlements
We can also talk you about the possible tax solution of settling your tax debt through the offer in compromise program, that is settling your tax debt for pennies on the dollar.
The way you can settle your tax debt for pennies on the dollar is through the offer in compromise program.
The offer in compromise program is not for everyone.
When you call our office you will speak directly to a former IRS agent who both worked and taught the program for IRS. The writer of this blog is a former IRS agent and teaching instructor.
Remove an IRS Tax Levy IRS Bank Levy, IRS Wage Garnishments
If you wish to remove an IRS tax levy will need to give IRS a current financial statement on form 433F.
IRS will require that financial statement to be completely documented and verified.
Within 24 hours of receiving your current financial statement as a general rule we can get your bank or wage levy garnishment released. We will let you know about the IRS national standard program so you understand the process of how IRS settles tax debt.
Need to file back tax returns
You could have a former IRS agent who knows the system prepare your back tax returns with little or few records. We can help audit proof your tax return.
We are the fast, friendly and affordable professional tax firm.
We are A+ rated by the Better Business Bureau, since 1982.
Former IRS + Owe IRS Tax + Back IRS Debt + Payment Plans + Remove Tax Levies + IRS Audit Representation + File Tax Returns + New York, Brooklyn, Borough of Queens, Manhattan, Bronx
by Jim Magary | Aug 7, 2015 | Tax Help
As Former IRS Agents & Managers we specialize in AFFORDABLE immediate and permanent IRS Tax Relief.
We have over 60 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the IRS.
Being former IRS agents and managers we know the system inside and out.
We know exactly what Internal Revenue Service is going to do based on your set of circumstances and financial condition.
Not only were we former IRS agents and managers we were supervisors and tax instructors and taught new IRS agents there jobs.
If you have received an IRS tax bill, final notice before levy or seizure, received a notice of levy on your wages or bank account, need to make a payment plan or settle your tax debt with the Internal Revenue Service contact us today for free initial tax consultation.
We’ve been in private practice since 1982 and have over 206 years of professional tax experience in dealing with IRS tax matters.
If you have received an IRS tax levy, within 24 hours of receiving your current financial statement we can get your tax levy released, if you have received an IRS federal tax lien, we can talk to you about different programs to get your lien released, if you need an IRS payment plan we will go over the different type of installment agreements they have for taxpayers.
A note to all taxpayers:
As a former IRS agent and teaching instructor those tax bill notices are all time sensitive and must be addressed by the due dates on your mail correspondence. IRS sends bills on billing cycles that are usually five weeks apart.
Failure to keep up with the due dates many times winds up as enforced collection actions by the Internal Revenue Service.
Therefore it is important to address these issues soon as the mail comes in.
Also, please understand that wait times are extensive and you can be holding on the phone for over one hour however you must persist and get through to the Internal Revenue Service.
Remember, you must respond to every IRS notice you receive.
IRS Tax facts of interest:
1. IRS sends close to 2 million bank and wage garnishment levies each and every year,
2. Approximately 6.6 M people are on IRS payment plans,
3. Over 38% of all those who apply for an IRS tax settlement or approved by the Internal Revenue Service,
4. IRS sends out approximately 700,000 liens every year,
5. Over 40% of collection cases that IRS works winds of going into hardship.
6. Your chances of an IRS tax audit are less than 1%. However do not play the audit lottery.
7. The average wait time for an offer in compromise is nine months.
8. Normal billing cycles for IRS collection cases range between 3 to 5 months.
Call us today for a free initial tax consultation, since 1982.
We are A+ rated by the Better Business Bureau.
Affordable IRS Taxes Relief + Tax Bill Notice + Certified Mail + IRS Levy + IRS Liens + IRS Audits, IRS Payment Plans + Offer in Compromise + New York, Brooklyn, Borough of Queens, Manhattan, Bronx
by Jim Magary | Aug 7, 2015 | Tax Help
We are “AFFORDABLE” Former IRS Agents & Managers that specialize in the removal of IRS tax levies, bank levies, wage garnishment levies & IRS tax debt settlements on back taxes.
We know the system, since 1982, A + Rated BBB.
We have over 206 years of professional tax experience. Get your levy released within 24 hours.
IRS files 1.9 million tax levies each year and files over 700,000 federal tax liens each year.These numbers vary from year to year.
IRS is very generous in sending out tax federal liens and tax levies.It is their number one collection tool.
It is responsible for collecting billions of dollars into the US treasury. Also to send out IRS levies is very cheap. IRS levies are sent out systematically, and not a human hand touches the levy. IRS gets their levy sources from your tax return, that is your employers and your bank information. All this information is stored up on the Cade 2 computer.
If the IRS has filed a IRS tax lien or IRS levy, you are not alone, not by a long shot.
There is a fast and easy system to go ahead and get your money back from the Internal Revenue Service.
We have a streamlined process to get your money back from IRS. We know the system having worked for IRS for over 60 you combined years.
You will never have to speak to IRS.
We handle all the IRS communication between you and the Internal Revenue Service.
IRS Tax Levies 668a & IRS Tax Wage Garnishments 668w
There is a different between a bank levy and wage levy.
The IRS bank levy has a 21 day hold or freeze on the account and an IRS wage garnishment levy is an immediate tax levy on your next paycheck.
With the IRS wage garnishment levy certain exemptions may be taken. But it’s a continuous levy and garnishment until you get your levy released by calling the IRS. IRS has the option of not releasing your levy until all tax returns are filed.
As a general rule, 24 hours after receiving your current and verifiable financial statement we can get your IRS tax, bank levy garnishment released and your case closed with the IRS.
It only makes sense as former IRS agents and managers, we know the system inside and out. Just how well do we know the system, we were former IRS teaching instructors.
Our former IRS agents have worked in the local, district, and regional tax offices of the Internal Revenue Service and we know the system inside and out.
When you call our office we will go over the different ways you can settle your tax debt completely with the IRS. There are three general ways to get IRS tax levies released.
Required for IRS Tax Levy, IRS Bank, IRS Wage Tax Garnishment Releases.
IRS will require a current financial statement before they will release a bank levy, wage garnishment levy.
The IRS financial statement is required documentation before they can close any case.
The IRS financial statement will need to be a form 433F.
The local office does a much more thorough review than that of the ACS unit. There is also a higher pay grade agent working the case. The persons working these cases will be called IRS revenue officers.
IRS will require the last payments based statements, copy them all mostly expenses and a copy of your pay stub to verify your current financial statement.
IRS will compare your financial statement with that of the national averages and regional norms and come up with a plan to close your case off the IRS enforcement computer.
As a general rule IRS settles case by putting them into a tax hardship, payment agreements or the recommendation of settling your tax debt to the offer in compromise.
The offer in compromise is a more complicated process and it really takes a skilled tax professional to get an offer accepted. The current wait time for offers in compromise or nine months.
Last year 40% of all IRS collection cases ended up and were currently not collectible file and 6.5 million cases ended up with payment plans. Once again, everything depends on your current financial statement.
Some of our clients are eligible for the new fresh start tax initiative called the offer in compromise to settle their tax debt for pennies on a dollar.
You may want to check out the IRS pre-qualifier tool to make sure that you are an eligible candidate for a tax settlement.
STOP IRS BANK & WAGE GARNISHMENT TAX LEVY NOW + OWE BACK IRS TAXES HELP + SETTLE IRS TAX DEBT + UNFILED TAX RETURNS
