by Jim Magary | Jul 15, 2015 | Tax Help
AFFORDABLE + We can get your IRS tax levy released within a 24-hour period of time and settle your case at the same time.
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 and your case closed.
Not only can we get your tax levies removed, we can settle and close your case at the same time.
We will speak with you about settling your tax debt to the offer in compromise program.
The Internal Revenue Service accepted 38,000 offers in compromise last year for average of $6500 per settlement.
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 debt settlements.
Taxpayers should be aware that there is a pre-qualifier tool for the offer in compromise program. You can find that tool directly on our website.
I suggest everyone the walk through this particular tool given by Internal Revenue Service to find out for a qualified candidate.
We do not file offers in compromise for taxpayers unless we know they are pre-qualified.
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. We know the system inside and out.
Before IRS will release a tax levy, a wage garnishment or bank seizure Internal Revenue Service will need a current documented financial statement, Form 433F.
If the cases are in the local IRS office form 433A 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. A revenue officer is a higher paying and much more sophisticated agent.
All other cases will be handled in the ACS unit of the Internal Revenue Service or their phone banks.
It is important to have a seasoned tax professional fill out and negotiate your levy release and settlement because they know and understand the system.
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.
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.
You will pay the highest amount allowed by law. 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.
After the review of your financial statement we can let you know whether you are a possible debt settlement candidate for the offer in compromise program.
Also you should know that all accepted offers in compromise are available for public record and inspection up to one year at the district offices.
Call us today and speak to a true IRS tax expert regarding the settling of your case by the Internal Revenue Service.
We can also handle all IRS tax audits, innocent spouse cases and any Appellate Division hearings.
IRS Tax Levy Removals NOW + Bank, Wage Garnishment + Settle IRS Tax Debt Now + Offer in Compromise + Omaha, Lincoln, Bellevue, Grand Island, Kearney
by Jim Magary | Jul 15, 2015 | Tax Help
“AFFORDABLE” Former IRS Agents & Managers that specialize in the fast removal of IRS tax levies, bank levies, and wage garnishment levies. We know the system, since 1982.
Since 1982 our firm has been resolving IRS tax matters.
We are A plus rated by the BBB.
We have over 60 years of working directly for the Internal Revenue Service and the local, district, and regional tax offices of the Internal Revenue Service. We know the system inside and out.
IRS files 1.9 million tax levies each and every year.
This number includes bank levies, wage garnishment levies and third-party levies.
We have a streamlined process that can affordably solve your IRS tax debt and release your tax levy all at the same time.
When you call our offices we will go over a variety of solutions and resolutions to not only get your IRS wage garnishment levy released but close and settle your case all at the same time. Each key case is unique and dependent on the taxpayer’s financial statement.
IRS Final Notices
If you do not respond to the IRS the final notice, the IRS has no choice but to systemically send out an IRS bank or wage garnishment levy. IRS billing cycles or five weeks apart in this critical you answer all IRS correspondence.
The IRS Cade 2 computer system is the mother of all collection tools.
It is the largest collection computer in the world. Not a human hand touches and IRS levy they are all systemically sent out.
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.
Required Financial Statement- the 433F
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.
It will need to be a form 433F.
IRS will require the last 3 months of bank statements, copy of all monthly 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 hardship, payment agreements or the recommendation of settling your tax debt to the offer in compromise.
The IRS places over 40% of their collection cases into a current tax hardship or uncollectible and over 6 million people enter into installment payments every year. Your financial statement will determine the way IRS will close their case.
It is important for you to know if you owe back IRS tax debt, you will have to file all back tax returns before the Internal Revenue Service will negotiate with you.
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.
When speaking to somebody on our friendly staff, we will let you know if you are an eligible candidate to settle your tax debt through the offer in compromise program.
Last year there were 78,000 offers in compromise filed in close to 40% of more accepted by the Internal Revenue Service for average of $6500. The offer compromise program is not for everybody. We will walk you through the pre-qualifier tool before you spend any money to make sure you are a qualified candidate for the program.
Call us today to learn more about the offer in compromise program offered by the Internal Revenue Service. You will hear the truth.
We are one of the most experienced professional& qualified tax firms in the country.
Stop IRS Tax Levy NOW = Bank or Wage Garnishment Tax Levy + Tax Settlements + Affordable + Former IRS+ Fremont , Hastings, North Platte, Norfolk, Columbus
by Jim Magary | Jul 15, 2015 | Tax Help
Tax Breaks for the Military
If you are in the U. S. Armed Forces, special tax breaks may apply to you. For example, some types of pay are not taxable.
Certain rules apply to deductions or credits that you may be able to claim that can lower your tax. In some cases, you may get more time to file your tax return. You may also get more time to pay your income tax.
Tax tips about these rules:
1. Deadline Extensions.
Some members of the military, such as those who serve in a combat zone, can postpone some tax deadlines. If this applies to you, you can get automatic extensions of time to file your tax return and to pay your taxes.
2. Combat Pay Exclusion.
If you serve in a combat zone, certain combat pay you get is not taxable. You won’t need to show the pay on your tax return because combat pay is not part of the wages reported on your Form W-2, Wage and Tax Statement.
If you serve in support of a combat zone, you may qualify for this exclusion.
3. Earned Income Tax Credit or EITC.
If you get nontaxable combat pay, you can include it to figure your EITC. Doing so may boost your credit.
Even if you do, the combat pay stays nontaxable.
4. Moving Expense Deduction.
You may be able to deduct some of your unreimbursed moving costs. This applies if the move is due to a permanent change of station.
5. Uniform Deduction.
You can deduct the costs of certain uniforms that you can’t wear while off duty. This includes the costs of purchase and upkeep.
You must reduce your deduction by any allowance you get for these costs.
6. Signing Joint Returns.
Both spouses normally must sign a joint income tax return. If your spouse is absent due to certain military duty or conditions, you may be able to sign for your spouse.
In other cases when your spouse is absent, you may need a power of attorney to file a joint return.
7. Reservists’ Travel Deduction.
If you’re a member of the U.S. Armed Forces Reserves, you may deduct certain costs of travel on your tax return.
This applies to the unreimbursed costs of travel to perform your reserve duties that are more than 100 miles away from home.
8. ROTC Allowances.
Some amounts paid to ROTC students in advanced training are not taxable. This applies to allowances for education and subsistence. Active duty ROTC pay is taxable.
9. Civilian Life. I
f you leave the military and look for work, you may be able to deduct some job search expenses.
You may be able to include the costs of travel, preparing a resume and job placement agency fees. Moving expenses may also qualify for a tax deduction.
10. Tax Help.
Most military bases offer free tax preparation and filing assistance during the tax filing season. Some also offer free tax help after April 15.
by Jim Magary | Jul 15, 2015 | Tax Help
National Taxpayer Advocate Nina E. Olson today released her statutorily mandated mid-year report to Congress that identifies the priority issues the Taxpayer Advocate Service (TAS) will address during the upcoming fiscal year, including the IRS’s long-term strategic planning, tax-related identity theft and administration of the Patient Protection and Affordable Care Act (ACA), and presents highlights of the recently concluded filing season.
Overview of the Filing Season
The report says the IRS ran a generally successful filing season under difficult circumstances. “With funding down about 17 percent on an inflation-adjusted basis since FY 2010, and with the IRS having had to implement large portions of the [ACA] and the Foreign Account Tax Compliance Act (FATCA) this year without any supplemental funding, sharp declines in taxpayer service were inevitable,” Olson wrote.
Likening the 2015 filing season to “A Tale of Two Cities,” however, the report says: “For the majority of taxpayers who filed their returns and did not require IRS assistance, the filing season was generally successful. For the segment of taxpayers who required help from the IRS, the filing season was by far the worst in memory.”
The report notes the following:
• During the filing season, the IRS processed 126.1 million individual tax returns (compared with 125.6 million last year) and issued 91.8 million refunds (compared with 94.8 million last year).
The average refund amount was $2,711 (compared with $2,686 last year).
• The IRS answered only 37 percent of taxpayer calls routed to customer service representatives overall, and the hold time for taxpayers who got through averaged 23 minutes.
This level of service represents a sharp drop-off from the 2014 filing season, when the IRS answered 71 percent of its calls and hold times averaged about 14 minutes.
• The IRS answered only 39 percent of calls from taxpayers seeking assistance from TAS on the National Taxpayer Advocate (NTA) Toll-Free hotline, and hold times averaged 19 minutes.
TAS serves as the IRS’s “safety net” for taxpayers who are experiencing a financial or systemic hardship as a result of IRS action or inaction.
• The IRS answered only 17 percent of calls from taxpayers who called after being notified that their tax returns had been blocked by the Taxpayer Protection Program (TPP) on suspicion of identity theft, and the hold times averaged about 28 minutes.
In three consecutive weeks during the filing season, the IRS answered fewer than 10 percent of these calls.
• The IRS answered only 45 percent of calls from practitioners who called the IRS on the Practitioner Priority Service line, and hold times averaged 45 minutes.
• The number of “courtesy disconnects” received by taxpayers calling the IRS skyrocketed from about 544,000 in 2014 to about 8.8 million this filing season, an increase of more than 1,500 percent.
The term “courtesy disconnect” is used when the IRS essentially hangs up on a taxpayer because its switchboard is overloaded and cannot handle additional calls.
• The decline in telephone performance can be attributed largely to three factors:
The number of taxpayer calls routed to telephone assistors increased by 41 percent, the number of calls answered by telephone assistors decreased by 26 percent, and the average call duration increased by 10 percent.
by Jim Magary | Jul 15, 2015 | Tax Help
We are “Affordable” former IRS agents and managers who know the system, since 1982, A plus rated BBB.
We can offer affordable IRS tax audit defense, providing different types of IRS tax settlements, and if you owe back taxes, provide quick and fast affordable tax solution options.
We can get your IRS tax levy removed within 24 hours of receiving your current financial statement, offer options about a federal tax lien and review with you the offer in compromise program to settle your debt for pennies on the dollar.
We can file all back tax returns with little or no records are experts in tax reconstruction. Do not be afraid to file because you work an old back taxes. IRS has programs just for you.
Being former IRS agents we know the system and know all the available resolution options.
We taught these programs at the Internal Revenue Service as former IRS agent managers and teaching instructors. We are true affordable experts in our field.
We have over 60 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the IRS.
If you have received an IRS tax Levy, bank levy or wage garnishment notice, as a general rule within 24 hours of receiving your current financial statement we can close and settle your case with the Internal Revenue Service.
There are different types of settlements and we will review with you your different tax settlement options.
If you owe IRS taxes, you’ll have to fill out for IRS form 433F, it must be completely documented along with last three months of bank statements, paystubs and monthly expenses. IRS will ask for other documents as well. Make sure you are honest and accurate on all financial information.
There are various closing methods that IRS will use to take your case off the system.
The Internal Revenue Service usually settles by having your account put in the currently not collectible status, asking to make a IRS payment plan or the submission of an offer in compromise to settle your back tax debt.
Right now, 40% of all IRS collection cases end up being put in the currently uncollectible file and 6.5 million taxpayers are entering payment agreement programs.
Just for the record, IRS levies close to 2 million taxpayers each and every year and files over 700,000 federal tax liens. Upon receiving the last and final notice from Internal Revenue Service you have collection due process rights.
It is very important that taxpayers answer all IRS correspondence because it is time sensitive information.
As former IRS agents we used to issue tax levies so it only makes sense we know the quickest process to get an IRS tax levy released.
As a general rule, once we file the power of attorney and communicate with IRS they will stop all IRS collection action. You will never speak to the Internal Revenue Service as we handle all communication.
One of the benefits of hiring a professional tax firm is knowing the system and how to work within it.
If you are undergoing an IRS tax audit you can have a former IRS audit manager represent your best interest in front of the Internal Revenue Service.
Approximately 1% of all taxpayers get audited by the Internal Revenue Service. Being a former agent I caution those not to play the IRS audit lottery game. Most taxpayers are audited because there’s tax returns have a high DIF number.
If you will back tax debt to the Internal Revenue Service you will required to give IRS a back financial statement along with copies of bank statements, pay stubs and your monthly bills.
When you call our office you will not speak to a salesperson but a true IRS tax professional.
Call us for a free tax consultation.
Omaha + Owe IRS Taxes + IRS Problem Help + IRS Audit + Tax Levy + Tax Lien + Settle Tax Debt + File Back Tax Returns + Offer in Compromise
