by Jim Magary | Aug 4, 2015 | Tax Help
We are an Affordable Professional Tax Firm” that specializes in IRS and State tax debt resolution.
We are former IRS Agents & Managers who know the system, since 1982.
A plus Rated BBB. We have over 206 professional tax experience.
We have been in private practice since 1982 and are true affordable IRS and State tax experts in resolving individual, business and payroll taxes debt.
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 taught tax law when employed with the Internal Revenue Service.
We understand all the protocols and systems to affordably and swiftly deal with any IRS tax issue.
We can help anyone who owes any federal, State, individual, business, or 941 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. It is important to note that your current financial statement will determine the outcome of your case.
Note:
It is important to understand, those who will owe back taxes that your current financial statement will usually determine the outcome of your case.
Therefore the preparation and the completion of your financial statement is the key to success and negotiation with the IRS is critical. IRS will use a national standard tests to look at your income and expenses. To learn more about the IRS evaluation process talk to one of our tax experts so you completely understand how the Internal Revenue Service will interpret and close your case.
The Filing of Back 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
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.
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. IRS has the option to determine the period of time and wish they can review your financial records.
3 to 6 months is generally the time periods they choose in is a good reflection of your ability to pay or inability not to pay.
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.
Since 1982 we have been resolving IRS tax debt for individuals, businesses and corporations that owe back federal taxes including payroll tax debt.
Call us today for a free initial tax consultation. When calling our office you will speak to a true IRS tax professional.
Indianapolis + IRS Taxes Debt Help + Owe Back Taxes + Individual, Business, 941 Payroll Taxes + Unfiled Tax Returns + Trust Fund Taxes + IRS Tax Debt Settlements
by Jim Magary | Aug 4, 2015 | Tax Help
We are AFFORDABLE IRS specialist experts for the Offer in Compromise for those wishing to settle their IRS tax debt.
Former IRS Agents, since 1982. Former IRS OIC Specialist.
We are composed of former IRS agents and managers who were former employees of the Internal Revenue Service.
I am a former IRS agent and teaching instructor of the offer in compromise or tax debt settlement program along with other IRS programs and systems.
We have over 60 years of direct work experience in the local, district, and regional tax offices of the Internal Revenue Service. We are true tax experts. All our work is done in-house and we are used by other firms to do their backend work.
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.
Due to the IRS new fresh start initiative set out by the Internal Revenue Service many more taxpayers are eligible for the tax debt settlement. Always remember you must be a true and qualified candidate.
As a former IRS agent, I would let all individuals who are trying to settle their debt on the own to understand that this is a long process.
Right now there are 7500 cases in the IRS Q. The average wait time is currently nine months.
IRS is currently swamped with cases and they have few employees to work the volumes of offers currently in the system.
By this time next year one-third of the IRS total workforce will have retired or opted out for early retirement within the last five years. So you must persevere.
Before a taxpayer or client thinks about the filing of an offer in compromise they should check out the IRS offer in compromise pre-qualifier tool first.
We will not file an offer in compromise or accept any fee for any client unless we know they are qualified for the program.
So if we send in your offer in compromise, you probably do have a pretty good chance of getting it accepted.
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.
Last year there were 78,000 offers in compromise were filed with the Internal Revenue Service, 38% of those were accepted for an average of $6500 per case. Keep in mind this is a national average and varies from case to case is completely dependent on your current financial statement.
About 20% of all offers in compromise go to the Appellate Division for settlement.
You should know that not everyone is an offer in compromise candidate to settle their tax debt.
Make sure you are eligible for the OIC. before you file.
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.
Submitting your offer or OIC to the Internal Revenue Service.
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.
Selecting a payment option for the offer in compromise program
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.
Understand the OIC process of the Internal Revenue Service.
While your offer in compromise 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 full-service professional tax firm that has a unique expertise in the resolution of all IRS tax matters.
As a side note, taxpayers should be aware that all tax returns must be filed before they can have an improved offer in compromise.
We can prepare any and all back tax returns.
Indianapolis + Offer in Compromise + IRS Tax Debt Settlement Program + Settle, Reduce IRS Tax Debt + Former IRS Offer Specialist Expert
by Jim Magary | Aug 4, 2015 | Tax Help
We are an “AFFORDABLE” full service tax firm that specializes in IRS tax problems. Since 1982, A plus rated, Former IRS.
We have 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 inside and out.
We’ve trained new IRS agents their jobs, that’s how well we know the system and these years of experience can work directly for you. We are actually used by other firms for their backend work.
If you need to file back tax returns or owe the IRS a tax debt, we can go ahead and work out an effective tax settlement for you.
We know the best system that will fit your case and your current financial needs.
IRS after reviewing your current financial statement will either put you into a current hardship, asking for a monthly payment agreement or will consider the filing of an offer in compromise for pennies on a dollar if you’re a qualified candidate for the offer in compromise program.
Important Note:
Your current financial statement will determine the closing method used by IRS.
IRS uses financial statement form 433F worth the cases in the local office will use form 433A.
The Internal Revenue Service does a comprehensive review of your current financial statement and will ask for things like bank statements, copies of monthly expenses, and their last pay stubs. The more money you owe more thorough the review.
At the current time over 40% of the cases are put into a currently not collectible file, 6.5 million taxpayers have current monthly or installment agreements and 38,000 taxpayer settled by the acceptance of an offer in compromise.
Do you have unfiled or not filed back tax returns?
Many people do not file back tax returns because they lost their records.
It is important to remember IRS just want you back in the system so don’t let fear or panic set in.
If this is your case, we can go ahead and pull IRS tax transcripts and secure enough information to file back tax returns.
If you have little or few tax records that is not a problem we can prepare your returns under reconstructive methods ensure you will pay the lowest amount allowed by law.
Being a former IRS agents we understand all the techniques to get you back in the system worry free.
Do not let not having records keep you from filing your back tax returns. We can get you back in the system worry free.
6020B
I caution those taxpayers who do not file to be very careful because IRS can file your tax return under 6020B and you will pay the most amount allowed by law.
If you do not follow-up on the assessment IRS makes under 6020 B of the IRC code, the Internal Revenue Service will follow-up by the filing of a federal tax levy in a federal tax lien.
We will give you a free evaluation or analysis on the best way to settle your case for the lowest possible dollar amount if you are a suitable candidate for an offer in compromise.
We are the fast friendly and affordable professional tax firm, since 1982 A+ rated by the Better Business Bureau.
If you have any IRS tax problem, need to file and file back returns, want to get a tax levy, bank levy or wage garnishment levy released, need to get an IRS payment plan, or find out the easiest way to settle your case for pennies on the dollar.
When you call our office you will speak directly to a true IRS tax expert.
We are A+ rated by the Better Business Bureau with over 206 years of professional tax experience.
IRS Taxes = Affordable, Former IRS + Unfiled Back Tax Returns + Tax Levy + Tax Liens + Payment Plans + Offer in Compromise Settlements
by Jim Magary | Aug 4, 2015 | Tax Help
Former AFFORDABLE IRS agents and managers can completely resolve and end your IRS tax problems. We know the system!
We are a full-service team that specializes in IRS back tax problem help and we have been in private practice since 1982. We are A+ rated by the Better Business Bureau.
Having worked for IRS for a combined 60 years we can get fast and permanent IRS tax relief.
FST can stop an IRS final notice prevent, stop an IRS tax levy or wage garnishment and settle in IRS tax debt.
We will handle your IRS tax problem, you will never speak to the Internal Revenue Service and your situation once and for all.
We know the system inside and out.
IRS Tax Problems
As a former IRS agents we were auditors, revenue agents, revenue officers, supervisors and taught at the regional training centers.
With that much experience we understand the codes, protocols, settlement theories , and all the avenues to resolve any IRS back tax debt problem.
We can stop an IRS final notice, we can stop an IRS tax or wage garnishment levy and file any back tax returns that are currently not on file. It is very important that every taxpayer respond to letters and notices out by the Internal Revenue Service.
If you do not file your tax returns, IRS will file for you under code section 6020 be assessed the tax and then can send out bank and wage garnishment levies.It is important you follow-up on all IRS correspondence. All IRS notices are time sensitive and must be addressed by the date given by the Internal Revenue Service.
IRS enforcement computer CADE2 will follow-up on every action of a letter sent.
IRS is the largest collection world.
IRS sends out 1.9 million tax levies each and every year.
Not only does it send out IRS tax levies it also sends out 700,000 federal tax liens every year as well.
As a general rule, within 24 hours we can get your money back from Internal Revenue Service. The IRS tax levy will be released and the case will be closed by Internal Revenue Service.
The closing method the IRS will use will depend currently on your financial statement. As a general rule, cases either a placed and to currently not collectible status or installment agreement.
Over 40% of all IRS cases are placed into currently not collectible and 6.5 million cases are placed into installment agreements.
Once we have your documented financial statement your case can will be resolved.
Just for your information if you received an IRS wage levy by law your next paycheck goes to the Internal Revenue Service with some exemptions.
With a IRS bank levy there is a 21 day hold or freeze on the account. You can still continue to use your bank account.
On the 22nd day the banks will send the money to the Internal Revenue Service. Remember you are allowed to use your account freely during that period of time without fear of the second IRS levy.
IRS is very methodical and system oriented on how they work cases involving back tax debt.
The IRS will make sure that all your tax returns are filed and as a general rule will attempt to secure current financial statement so they can take your case off of all IRS enforcement computers.
Compliance is very important to the Internal Revenue Service.
We can file any and all back tax returns you have with little or no records based on reconstructive methods we learned that the Internal Revenue Service.
We can file accurate returns and make sure you pay the lowest amount allowed by law.
Settling your IRS tax debt
I am a former IRS revenue officer who not only worked the program at IRS but was a regional trainer of the program.
I caution any taxpayer wanting to settle their debt for pennies on the dollar to make sure they are qualified applicants for the program.
When you call our office we will give you an initial free consultation to make sure you qualify.
We will walk you through the IRS offer in compromise program and let you know how much the IRS will settle your case for.
We are the fast, friendly, and affordable professional tax firm since 1982. Before hiring any tax firm check there bios on the website to make sure you are dealing with the true tax professional firm.
by Jim Magary | Aug 4, 2015 | Tax Help
Address to Mail Form to IRS:
Form 11C Occupational Tax and Registration Return for Wagering
Department of the Treasury
Internal Revenue Service
Cincinnati, OH 45999-0101
Form 1023 Application for Recognition of Exemption Under Section 501(c)(3) of the IRC
Address to send Form 1023
Form 1024 Application for Recognition of Exemption Under Section 501(a) of the IRC
Address to send Form 1024
Form 1028 Application for Recognition of Exemption Under Section 521 of the IRC
Address to send Form 1028
Form 1040 U.S. Individual Tax Return
Taxpayer or Tax Professional filing Form 1040 return
Form 1040A U.S. Individual Tax Return
Taxpayer or Tax Professional filing Form 1040A return
Form 1040-C U.S. Departing Alien Income Tax Return
Department of the Treasury
Internal Revenue Service
Austin, TX 73301-0215
U.S.A.
Form 1040ES Estimated Tax for Individuals
Taxpayer or Tax Professional filing Form 1040ES
Form 1040-ES (NR)
U.S. Estimated Tax for Nonresident Alien Individuals
Taxpayer or Tax Professional filing Form 1040-ES (NR)
Form 1040EZ Income Tax Return For Single and Joint Filers With No Dependents
Taxpayer or Tax Professional filing Form 1040EZ
Form 1040NR U.S. Nonresident Alien Income Tax Return (if not enclosing a payment)
Department of the Treasury
Internal Revenue Service
Austin, Texas 73301-0215
Form 1040NR U.S. Nonresident Alien Income Tax Return (if enclosing a payment)
Internal Revenue Service
P.O. Box 1303
Charlotte, NC 28201-1303
USA
Form 1040NR-EZ U.S. Income Tax Return for Certain Nonresident Aliens With No Dependents (if not enclosing a payment)
Department of the Treasury
Internal Revenue Service
Austin, Texas 73301-0215
Form 1040NR-EZ U.S. Income Tax Return for Certain Nonresident Aliens With No Dependents (if enclosing a payment)
Internal Revenue Service
P.O. Box 1303
Charlotte, NC 28201-1303
USA
Form 1040-PR Self-Employment Tax Return – Puerto Rico (In Spanish) (if not enclosing a payment)
Department of the Treasury
Internal Revenue Service
Austin, Texas 73301-0215
Form 1040-PR Self-Employment Tax Return – Puerto Rico (In Spanish) (if enclosing a payment)
Internal Revenue Service
P.O. Box 1303
Charlotte, NC 28201-1303
USA
Form 1040-PR SCH H (PR) Household Employment Tax (Spanish Version) (if not enclosing a payment)
Department of the Treasury
Internal Revenue Service
Austin, Texas 73301-0215
Form 1040-PR SCH H (PR) Household Employment Tax (Spanish Version) (if enclosing a payment)
Internal Revenue Service
P.O. Box 1303
Charlotte, NC 28201-1303
USA
Form 1040-SS U.S. Self-Employment Tax Return (if not enclosing a payment)
Department of the Treasury
Internal Revenue Service
Austin, Texas 73301-0215
Form 1040-SS U.S. Self-Employment Tax Return (if enclosing a payment)
Internal Revenue Service
P.O. Box 1303
Charlotte, NC 28201-1303
USA
Form 1040V
Taxpayer or Tax Professional filing Form 1040V
Form 1040X Amended U.S. Individual Income Tax Return
Taxpayer or Tax Professional filing Form 1040X
Form 1041 U.S. Income Tax Return for Estates and Trusts
Address to send Form 1041
Form 1041-A U.S. Information Return Trust Accumulation of Charitable Amounts
Address to send Form 1041-A
Form 1041-ES Estimated Income Tax for Estates and Trusts
Internal Revenue Service
P.O. Box 804526
Cincinnati, OH 45280-4526
Form 1041-N U.S. Income Tax Return for Electing Alaska Native Settlement Trusts Department of the Treasury
Internal Revenue Service
Ogden, UT 84201-0027
Form 1041-QFT U.S. Income Tax Return for Qualified Funeral Trusts
Department of the Treasury
Internal Revenue Service
Cincinnati, OH 45999
Form 1041-T Transmittal of Estimated Taxes Credited to Beneficiaries
Address to send Form 1041-T
Form 1042 Annual Withholding Tax Return
Form 1042-S Foreign Person’s US Source Income Subject to Withholding
Form 1042-T Annual Summary and Transmittal of Forms 1042-S
Ogden Service Center
P.O. Box 409101
Ogden, UT 84409
Form 1065 U.S. Partnership Return of Income
Address to send Form 1065
Form 1065-B U.S. Return of Income for Electing Large Partnerships
If the business is located in the United States mail to:
Department of the Treasury
Internal Revenue Service
Ogden, UT 84201-0007
If the business is located in a foreign country or U.S. Possession mail to:
Internal Revenue Service
P.O. Box 409101
Ogden, UT 84409
Form 1066 U.S. Real Estate Mortgage Investment Conduit (REMIC)
If the business is located in the United States mail to:
Department of the Treasury
Internal Revenue Service
Ogden, UT 84201-0007
If the business is located in a foreign country or U.S. Possession mail to:
Internal Revenue Service
P.O. Box 409101
Ogden, UT 84409
Form 1120 U.S. Corporation Income Tax Return
Address to send Form 1120
Form 1120-A U.S. Corporation Short Form Income Tax Return
Address to send Form 1120-A
Form 1120-C U.S. Income Tax Return for Cooperative Associations
Address to send Form 1120-C
Form 1120-F U.S. Income Tax Return of a Foreign Corporation
Form 1120-FSC U.S. Income Tax Return of a Foreign Sales Corporation
Internal Revenue Service
P.O. Box 409101
Ogden, UT 84409
Form 1120-H U.S. Income Tax Return for Homeowners Associations
Address to send Form 1120-H
Form 1120-IC-DISC Interest Charge Domestic International Sales Corporation Return
Internal Revenue Service
201 W. Rivercenter Blvd.
Covington, KY 41019
Form 1120-L U.S. Life Insurance Company Income Tax Return
Address to send Form 1120-L
Form 1120-ND Return for Nuclear Decommissioning Funds and Certain Related Persons
Address to send Form 1120-ND
Form 1120-PC U.S. Property and Casualty Insurance Company Income Tax Return
Address to send Form 1120-PC
Form 1120-POL U.S. Income Tax Return for Certain Political Organizations
Address to send Form 1120-POL
Form 1120-REIT U.S. Income Tax Return for Real Estate Investment Trusts
Address to send Form 1120-REIT
Form 1120-RIC U.S. Income Tax Return for Regulated Investment Companies
Address to send Form 1120-RIC
Form 1120S U.S. Income Tax Return for an S Corporation
Address to send Form 1120S
Form 1120-SF U.S. Income Tax Return for Settlement Funds (under Section 468B)
Address to send Form 1120-SF
Form 1120-W Estimated Tax for Corporations
Keep for corporation’s records. Do not file form with IRS.
Form 1120X Amended U.S. Corporation Income Tax Return
File this form at the applicable Internal Revenue Service Center where the corporation filed its original return.
Form 1128 Application to Adopt, Change or Retain a Tax Year
Address to send Form 1128
Form 1138 Extension of Time for payment of Taxes by a Corporation Expecting a Net Operating Loss
File at IRS Center where the corporation files its income tax ret
