by Jim Magary | Apr 27, 2016 | Tax Help
If you owe back taxes there’s a good chance that you can lose your passport. Call us today for a free initial tax consultation.
Former IRS Agents and Managers who know the system!
If you are in danger of losing your passport because of the new law passed contact us today and we can review with you different tax solutions and options to keep your passport. getting a payment plan with the Internal Revenue Service can avoid this huge problem which may be crouching at the door.
Passed by Congress and signed into law allows the US Government to revoke the passports of seriously tax delinquents. The thresholds seem to be set at $50k plus
Under legislation signed recently by President Obama (H.R. 22 – Fixing America’s Surface Transportation Act), the State Department has been given new powers to revoke or deny passports for individuals who are “seriously delinquent” in their federal tax payments.
The new passport rule indicates the government wants to get serious about collecting unpaid tax debts.
The IRS reported 12.4 million delinquent accounts owing nearly $131 billion in assessed taxes, interest and penalties in 2014.
The passport-revoking provision allows the Department of the Treasury and the IRS to authorize the State Department to take away U.S. passports from individuals with seriously delinquent tax liabilities.
The State Department is now authorized:“to deny, revoke or limit use of a taxpayer’s U.S. passport, and it isn’t supposed to issue a passport to anyone owing that much money (with exceptions for emergencies or for humanitarian reasons)”
Americans however, out of the country when their passports are revoked may be allowed to return home.
FACT : The number of valid U.S. passports has surged in recent years, from roughly 30 million in 1995 to 126 million this year.
The bottom line, Congressional analysts expect the passport-revocation rule to raise about $400 million over the next 10 years. At the end of the day is all about raising revenue for the US government.
Getting a simple payment agreement could allow your complete freedom of traveling back and forth without recourse.
Call us today for free initial tax consultation and we will go over with you to different remedies available.
If You Owe You Can Lose Your Passport = Tax Help Available
by Jim Magary | Apr 27, 2016 | Tax Help
If you owe back taxes there’s a good chance that you can lose your passport. Call us today for a free initial tax consultation.
Former IRS Agents and Managers who know the system! If you are in danger of losing your passport because of the new law passed contact us today and we can review with you different tax solutions and options to keep your passport.
Passed by Congress and signed into law allows the US Government to revoke the passports of seriously tax delinquents. The thresholds seem to be set at $50k plus
Under legislation signed recently by President Obama (H.R. 22 – Fixing America’s Surface Transportation Act), the State Department has been given new powers to revoke or deny passports for individuals who are “seriously delinquent” in their federal tax payments.
The new passport rule indicates the government wants to get serious about collecting unpaid tax debts.
The IRS reported 12.4 million delinquent accounts owing nearly $131 billion in assessed taxes, interest and penalties in 2014.
The passport-revoking provision allows the Department of the Treasury and the IRS to authorize the State Department to take away U.S. passports from individuals with seriously delinquent tax liabilities.
The State Department is now authorized:”to deny, revoke or limit use of a taxpayer’s U.S. passport, and it isn’t supposed to issue a passport to anyone owing that much money (with exceptions for emergencies or for humanitarian reasons)”
Americans however, out of the country when their passports are revoked may be allowed to return home.
FACT : The number of valid U.S. passports has surged in recent years, from roughly 30 million in 1995 to 126 million this year.
The bottom line, Congressional analysts expect the passport-revocation rule to raise about $400 million over the next 10 years.
Getting a simple payment agreement could allow your complete freedom of traveling back and forth without recourse.
Call us today for free initial tax consultation and we will go over with you to different remedies available.
Owe Back Taxes + Lose Your Passport + Options to Help
by Jim Magary | Apr 27, 2016 | Tax Help
If you owe back taxes there’s a good chance that you can lose your passport. Call us today for a free initial tax consultation.
Former IRS Agents and Managers who know the system!
Passed by Congress and signed into law allows the US Government to revoke the passports of seriously tax delinquents. The thresholds seem to be set at $50k plus
The new passport rule indicates the government wants to get serious about collecting unpaid tax debts.
The IRS reported 12.4 million delinquent accounts owing nearly $131 billion in assessed taxes, interest and penalties in 2014.
The passport-revoking provision allows the Department of the Treasury and the IRS to authorize the State Department to take away U.S. passports from individuals with seriously delinquent tax liabilities.
The State Department is now authorized:“to deny, revoke or limit use of a taxpayer’s U.S. passport, and it isn’t supposed to issue a passport to anyone owing that much money (with exceptions for emergencies or for humanitarian reasons)”
Americans however, out of the country when their passports are revoked may be allowed to return home.
FACT : The number of valid U.S. passports has surged in recent years, from roughly 30 million in 1995 to 126 million this year.
The bottom line, Congressional analysts expect the passport-revocation rule to raise about $400 million over the next 10 years.
Getting a simple payment agreement could allow your complete freedom of traveling back and forth without recourse. Call us today to learn more.
Owe Back Taxes + Lose Your Passport + Options to Help
by Jim Magary | Apr 27, 2016 | Tax Help
We are the affordable tax firm who provides a free consultation & have remedies to end your tax debt.
There are various options available to taxpayers who owe back taxes.
As a former IRS agent teaching instructor there generally six ways to deal with these outstanding tax debt.
Taxpayers must know they must develop an exit strategy to go ahead and to sooner or later extinguish the tax debt.
When you call our office we will review with you the different strategies based on your current financial statement.
The six most common ways that taxpayers will eventually opt into are the following.
- taxpayers will eventually borrow the money to pay the tax often full,
- taxpayers will enter a payment plan with the Internal Revenue Service,
- taxpayers will have their cases put into an IRS hardship are currently uncollectible,
- taxpayers will settle their debt to the offer in compromise program,
- taxpayers will file a Chapter 7 bankruptcy proceeding,
- while lastly the ten-year statute of limitation may expire and the debt will go away permanently.
If you are dealing with an outstanding tax liability and need to have your case reviewed for free initial tax consultation call us today to speak to true IRS experts know exactly how to deal with back tax debt.
We are a full-service firm with a specialty in IRS and state tax resolution.
It is important for taxpayers to know that any time you have an outstanding tax liability that Internal Revenue Service will want all tax returns filed upon their initial text contact.
This is so-called full compliance check.
If you need help with the filing of your back taxes, call us and we can prepare your tax returns with or without records. We are tax reconstruction experts.
Some IRS tax statistics.
For tax payers with outstanding liabilities the IRS tax statistics show that 40% of all open IRS collection cases are put into a currently not collectible or hardship case status, 6.5 million people enter into monthly installment payments, and 38% of all those who file offers in compromise get accepted for an average settlement of around $5000.
Call us today for free initial tax consultation.
I Owe IRS + Cant Pay in Full + List of Options
by Jim Magary | Apr 27, 2016 | Tax Help
The affordable tax firm who can take care of your outstanding tax liability in back taxes. Since 1982.
There are various options available to taxpayers who have outstanding tax liability. As a former IRS agent teaching instructor there generally six ways to cope with these outstanding taxes.
Taxpayers must know they must develop an exit strategy to go ahead and to sooner or later extinguish the tax liability.
The Six most common ways that taxpayers will eventually opt into are the following.
- taxpayers will eventually borrow the money to pay the tax often full,
- taxpayers will enter a payment plan with the Internal Revenue Service,
- taxpayers will have their cases put into an IRS hardship are currently uncollectible,
- taxpayers will settle their debt to the offer in compromise program,
- taxpayers will file a Chapter 7 bankruptcy proceeding,
- while lastly the ten-year statute of limitation may expire and the debt will go away permanently.
If you are dealing with an outstanding tax liability and need to have your case reviewed for free initial tax consultation call us today to speak to true IRS experts know exactly how to deal with back tax debt.
We are a full-service firm with a specialty in IRS and state tax resolution.
It is important for taxpayers to know that any time you have an outstanding tax liability that Internal Revenue Service will want all tax returns filed upon their initial text contact.
This is so-called full compliance check.
If you need help with the filing of your back taxes, call us and we can prepare your tax returns with or without records.
Some tax statistics.
For tax payers with outstanding liabilities the IRS tax statistics show that 40% of all open IRS collection cases are put into a currently not collectible or hardship case status, 6.5 million people enter into monthly installment payments, and 38% of all those who file offers in compromise get accepted for an average settlement of around $5000.
Call us today for free initial tax consultation.
Outstanding Tax Liability + List of Available Options + Former IRS
