by Jim Magary | Apr 21, 2016 | Tax Help
Received a IRS Wage Garnishment 668W, Since 1982.
We can get immediate release of IRS paycheck wage garnishments. Since 1982, former IRS agents who know the system. Affordable!
FAST AFFORDABLE! We have solutions to get your money back NOW!
We are a full service tax firm that specializes in the immediate releases of IRS paycheck levy wage garnishments.
To stop an IRS wage garnishment levy we have to know where you are in the system. If you are in the process of receiving a 1058 notice which tells you that IRS is threatening the levy we can immediately stop them by filing a power of attorney and having the case put on freeze until we can get certain information to them.
If you have already received the levy we file a power of attorney as well as a financial statement and get a wage levy released in settle your case all at the same time.
We are composed of former IRS agents, managers and teaching instructors who have over 65 years of direct IRS work experience.
We are the affordable professional tax firm that can get an IRS a paycheck wage levy garnishment released and settle your case all at the same time.
As a general rule, the IRS sends a paycheck wage levy garnishment out because a taxpayer has not responded to the final notice is for seizure.
As a general rule, the Internal Revenue Service sends out five notices to taxpayers before they seize. the paycheck levy is the quickest and fastest way for the Internal Revenue Service to get your attention.
Last year the IRS sent out 1.8 million bank and wage garnishment levies.
IRS collects billions of dollars a year by the use of its bank levy and wage garnishment or paycheck system.
They are set up on five-week billing cycles. Many times taxpayers have never received the IRS final notice.
When you call our firm and retainer our firm you’ll never have to speak to the Internal Revenue Service.
As a general rule, within 24 hours of receiving your current documented financial statement we can provide for you paycheck wage garnishment assistance and provide a tax levy relief for you. We will also settle your case at the same time.
IRS Tax Settlements include having your case put into:
1.currently not collectible,
2. making a monthly payment or,
3. settling your tax debt for pennies on a dollar.
The tax statistics show that 40% of all people who owe back taxes are placed in currently not collectible or hardship, 6.5 million people are placed into payment agreements, and close to 40,000 people have their cases settle to the offer in compromise program.
Your current financial statement fully documented will determine this course of action. The preparation of your financial statements key to any and all settlements.
Information about Paycheck Wage Levy Garnishments 668W
The IRS generally uses Form 668–W(ICS) or 668-W(C)DO to levy an individual’s wages, salary (including fees, bonuses, commissions, and similar items) or other income.
Form 668-W(ICS) and/or 668-W(C)(DO) also provides notice of levy on a taxpayer’s benefit or retirement income.
The IRS generally uses Form 668–A(C)DO to levy other property that a third-party is holding. For example, this form is used to levy bank accounts and business receivables.
Employers generally have at least one full pay period after receiving a Form 668-W(ICS) or 668-W(C)DO, Notice of Levy on Wages, Salary and Other Income (or other levy form) before they are required to send any funds from their employee’s wages to the IRS.
Employers should encourage your employees that have a levy placed on their wages to contact the IRS as soon as possible to discuss a release of levy and resolution of their tax liability. These IRS levies are not going away until IRS’s contacted in the issue a release.
IRS Wage Levy garnishments levies are continuous and do not stop
The Internal Revenue Code allows for continuous levies with respect to wages, salaries and certain other types of property.
This means that a levy on wages and salaries continuously attached until it is released. The quicker you call IRS with the current financial statement the sooner you will get your IRS wage garnishment levy released.
Examples of property continuously attached include:
1. Salary and wages, and
2. Deferred compensation payments, such as retirement or pension income.
Levy forms include a “Total Amount Due.” This amount is calculated through the date shown below the total amount due. Interest and any applicable penalties will continue to accrue after the date shown.
To get an updated payoff figure, the person who owes the tax liability will need to contact the IRS. This information cannot be released to the employer.
A continuous wage levy may last for some time. 688W.
When all the tax shown on the levy is paid in full, the IRS will issue a Form 668-D, Release of Levy/Release of Property from Levy.
The IRS may also release a levy if the taxpayer makes other arrangements to pay their tax debt.
IRS Paycheck Wage levy garnishments exempt amount: 668W
In the case of a levy on wages, the employer will pay the employee any amounts exempt from levy. The IRS calculates the exempt amount based on the standard deduction and the number of personal exemptions the employee is allowed.
IRS Publication 1494 (PDF), which is mailed with the Form 668-W(ICS) or 668-W(C)DO, explains to the employer how to compute the amount exempt from levy.
A levy includes a Statement of Exemptions and Filing Status.
The employer gives this statement to the employee to complete and return within three days.
If the employer does not receive the statement in three days, the exempt amount is figured as if the person is married filing separately with one exemption.
The IRS will notify the employer when the taxpayer is not entitled to levy exemptions.
If a wage levy continues from one calendar year to the next, the employee may submit a new Statement of Exemptions and Filing Status and ask their employer to re-compute the exempt amount.
IRS bank and other IRS tax levies
When the levy is on a bank, credit union or similar account, the Internal Revenue Code provides for a 21-day waiting period before the bank must comply with the levy. T
he waiting period allows the taxpayer time to contact the IRS and arrange to pay the tax or notify the IRS of errors in the levy.
Generally, IRS levies are delivered via U.S. mail.
The date and time of delivery of the levy is the time when the levy is considered to have been made.
This means funds in the account are frozen as of the date and time the levy is received. Normally, the levy does not affect funds deposited to the account after the date of the levy.
If a release of levy from the IRS is not received within 21 days of receipt of the levy, funds in the account as of the date and time the levy was received must be sent to the IRS.
If you are in need of immediate IRS wage levy garnishment assistance call us today for a free initial tax consultation.
We are A+ rated by the better business and have been in private practice since 1982. When you call our office you will speak to a true tax professional about being able to stop a levy on wages right now.
Received IRS Form 668W + Wage Levy Help NOW
by Jim Magary | Apr 21, 2016 | Tax Help
Filing Late and Paying Penalties
April 18 was this year’s deadline for most people to file their federal tax return and pay any tax they owe.
If you are due a refund there is no penalty if you file a late tax return.
If you owe tax, and you failed to file and pay on time, you will most likely owe interest and penalties on the tax you pay late.
To keep interest and penalties to a minimum, you should file your tax return and pay the tax as soon as possible.
Here are some facts that you should know.
1. Two penalties may apply.
One penalty is for filing late and one is for paying late.
They can add up fast. Interest accrues on top of the penalties.
2. Penalty for late filing.
If you file your 2015 tax return more than 60 days after the due date or extended due date, the minimum penalty is $205 or, if you owe less than $205, 100 percent of the unpaid tax.
Otherwise, the penalty can be as much as five percent of your unpaid taxes each month up to a maximum of 25 percent.
3. Penalty for late payment.
The penalty is generally 0.5 percent of your unpaid taxes per month. It can build up to as much as 25 percent of your unpaid taxes.
4. Combined penalty per month.
If both the late filing and late payment penalties apply, the maximum amount charged for the two penalties is 5 percent per month.
5. File even if you can’t pay.
Filing on time and paying as much as you can will keep your interest and penalties to a minimum.
If you can’t pay in full, getting a loan or paying by debit or credit card may be less expensive than owing the IRS.
If you do owe the IRS, the sooner you pay your bill the less you will owe.
6. Payment Options.
Explore your payment options on our website at IRS.gov/payments. For individuals, IRS Direct Pay is a fast and free way to pay directly from your checking or savings account.
The IRS will work with you to help you resolve your tax debt. Most people can set up a payment plan using the Online Payment Agreement tool on IRS.gov.
7. Late payment penalty may not apply.
If you requested an extension of time to file your income tax return by the tax due date and paid at least 90 percent of the taxes you owe, you may not face a failure-to-pay penalty. However, you must pay the remaining balance by the extended due date.
You will owe interest on any taxes you pay after the April 18 due date.
by Jim Magary | Apr 21, 2016 | Tax Help
As AFFORDABLE former IRS agents we can get you back in the system worry free. File Back Tax & Settle Now.
We can file all Back Taxes and Settle Your Case, Since 1982, We Know the System!
We can prepare all back taxes with or without records.
We are reconstructive tax experts. We can prepare and settle at the same time.
Call us today for free initial tax consultation and we will review with you various options and solutions you may have available.
With or without records we can file your tax returns contact IRS and work out a solution on how to permanently end your IRS tax problem.
You will never speak to the Internal Revenue Service.
We handle all correspondence with the IRS.
I am a former IRS agent in revenue officer who both worked and taught the offer in compromise program. I am a true expert in IRS tax debt settlement.
Our former IRS agents have over 65 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the IRS.
Not only did we work his former agents we worked as managers and teaching instructors.
In dealing with the IRS on federal individual or business taxes it is important to know for any individual, business or payroll tax case that you be current in the tax year you are in. IRS will insist on current year compliance.
The Internal Revenue Service may refuse to work with all clients who cannot keep up with current payment requirements.
FST will lay out a complete working system for you to cooperate with Internal Revenue Service to ensure that you will get to deal you are looking for with the IRS, one that you can live with.
KEY FACT:
If you will owe back taxes because of unfiled back taxes, your current financial statement will determine how the Internal Revenue Service will close your case.
Most taxpayers who think IRS will just work out any deal with them find themselves caught in a dilemma once IRS starts reviewing your financial statement.
IRS applies national standards that are shocking to most taxpayers.
You can find the national standards on our website.
The national standards are a list of expenses the Internal Revenue Service will allow you air based on both national, regional and localized standards.
If you are dealing with the ACS unit you will need to use financial statement number 433F if you are dealing in the local office you will need financial statement form 433 a, both can be found on our website.
That financial statement will need to be completely verified and documented to support the numbers on it. IRS will want to verify your financial statement via bank statements, copy of monthly expenses and a copy of pay stubs to verify income.
You must be very accurate and honest with your financial statement. Make sure your financial statement is completely documented.
As a general rule, cases will end in one of two ways people either the Internal Revenue Service after reviewing your financial statements.
IRS will either place you into a:
1.currently not collectible status, or,
2. ask for a monthly payment.
Some taxpayers who have unpaid income or business taxes may be eligible for offer in compromise.
When you call our office we will walk you through the process.
We will talk to you about settlements, and/or making payments depending on your current financial statement.
It is also best to deal with your unpaid federal income or business taxes before IRS contacts you. The earlier a tax professional has your case the better result you will achieve.
Filing Back Tax Returns + File & Settle + Former IRS
by Jim Magary | Apr 21, 2016 | Tax Help
As AFFORDABLE former IRS agents we can get you back in the system worry free. File & Settle Now.
We can file all Unfiled Back Taxes and Settle Your Case, Since 1982, We Know the System!
We can prepare all back taxes with or without records. We are reconstructive tax experts. We can prepare and settle at the same time.
Call us today for free initial tax consultation and we will review with you various options and solutions you may have available.
If you have unfiled back taxes we can get you back in the system worry free.
With or without records we can file your tax returns contact IRS and work out a solution on how to permanently end your IRS tax problem.
You will never speak to the Internal Revenue Service. We handle all correspondence with the IRS.
I am a former IRS agent in revenue officer who both worked and taught the offer in compromise program. I am a true expert in IRS tax debt settlement.
Our former IRS agents have over 65 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the IRS. Not only did we work his former agents we worked as managers and teaching instructors.
In dealing with the IRS on federal individual or business taxes it is important to know for any individual, business or payroll tax case that you be current in the tax year you are in. IRS will insist on current year compliance.
The Internal Revenue Service may refuse to work with all clients who cannot keep up with current payment requirements.
FST will lay out a complete working system for you to cooperate with Internal Revenue Service to ensure that you will get to deal you are looking for with the IRS, one that you can live with.
KEY FACT:
If you will owe back taxes because of unfiled back taxes, your current financial statement will determine how the Internal Revenue Service will close your case.
Most taxpayers who think IRS will just work out any deal with them find themselves caught in a dilemma once IRS starts reviewing your financial statement.
IRS applies national standards that are shocking to most taxpayers.
You can find the national standards on our website.
The national standards are a list of expenses the Internal Revenue Service will allow you air based on both national, regional and localized standards.
If you are dealing with the ACS unit you will need to use financial statement number 433F if you are dealing in the local office you will need financial statement form 433 a, both can be found on our website.
That financial statement will need to be completely verified and documented to support the numbers on it. IRS will want to verify your financial statement via bank statements, copy of monthly expenses and a copy of pay stubs to verify income.
You must be very accurate and honest with your financial statement. Make sure your financial statement is completely documented.
As a general rule, cases will end in one of two ways people either the Internal Revenue Service after reviewing your financial statements.
IRS will either place you into a:
1.currently not collectible status or
2. ask for a monthly payment.
Some taxpayers who have unpaid income or business taxes may be eligible for offer in compromise.
When you call our office we will walk you through the process.
We will talk to you about settlements, and/or making payments depending on your current financial statement.
It is also best to deal with your unpaid federal income or business taxes before IRS contacts you. The earlier a tax professional has your case the better result you will achieve.
Unfiled Taxes Help + File Past Due Tax Returns & Settle Now
by Jim Magary | Apr 21, 2016 | Tax Help
As AFFORDABLE former IRS agents we can get you back in the system worry free. Settle Your IRS Problems NOW.
We can file all Back Unfiled Back Taxes and Settle Your Case, Since 1982, We Know the System!
We can prepare all back taxes with or without records. We are reconstructive tax experts. We can prepare and settle at the same time.
Call us today for free initial tax consultation and we will review with you various options and solutions you may have available.
If you have unfiled back taxes we can get you back in the system worry free. With or without records we can file your tax returns contact IRS and work out a solution on how to permanently end your IRS tax problem.
You will never speak to the Internal Revenue Service. We handle all correspondence with the IRS.
I am a former IRS agent in revenue officer who both worked and taught the offer in compromise program. I am a true expert in IRS tax debt settlement.
Our former IRS agents have over 65 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the IRS. Not only did we work his former agents we worked as managers and teaching instructors.
In dealing with the IRS on federal individual or business taxes it is important to know for any individual, business or payroll tax case that you be current in the tax year you are in. IRS will insist on current year compliance.
The Internal Revenue Service may refuse to work with all clients who cannot keep up with current payment requirements.
FST will lay out a complete working system for you to cooperate with Internal Revenue Service to ensure that you will get to deal you are looking for with the IRS, one that you can live with.
KEY FACT:
If you will owe back taxes because of unfiled back taxes, your current financial statement will determine how the Internal Revenue Service will close your case.
Most taxpayers who think IRS will just work out any deal with them find themselves caught in a dilemma once IRS starts reviewing your financial statement.
IRS applies national standards that are shocking to most taxpayers.
You can find the national standards on our website.
The national standards are a list of expenses the Internal Revenue Service will allow you air based on both national, regional and localized standards.
If you are dealing with the ACS unit you will need to use financial statement number 433F if you are dealing in the local office you will need financial statement form 433 a, both can be found on our website.
That financial statement will need to be completely verified and documented to support the numbers on it. IRS will want to verify your financial statement via bank statements, copy of monthly expenses and a copy of pay stubs to verify income.
You must be very accurate and honest with your financial statement. Make sure your financial statement is completely documented.
As a general rule, cases will end in one of two ways people either the Internal Revenue Service after reviewing your financial statements.
IRS will either place you into a:
1.currently not collectible status or
2. ask for a monthly payment.
Some taxpayers who have unpaid income or business taxes may be eligible for offer in compromise.
When you call our office we will walk you through the process.
We will talk to you about settlements, and/or making payments depending on your current financial statement.
It is also best to deal with your unpaid federal income or business taxes before IRS contacts you. The earlier a tax professional has your case the better result you will achieve.
Unfiled Back Taxes
We can bring you up to speed without worries and settle your case all at the same time. Since 1982 we are the affordable tax experts.
Unfiled Back Taxes, Need Affordable Help + File & Settle All At the Same Time
What is the CP59 Notice???
IRS sends you this notice because we have no record that you filed your prior personal tax return or returns.
If you do not respond to this notice IRS is the right to prepare your back tax returns.
Unfiled Tax Returns + Received IRS Notice CP59 + File & Settle
