by Jim Magary | Apr 8, 2015 | Tax Help
Get Your Money Back From the IRS and settle your case at the same time, Former IRS Agents, we know the system!
As Former IRS Agents and Managers we know the system inside and out. Over 60 years of direct IRS work experience.
We are the affordable tax firm that specialize in IRS tax relief and IRS tax problems, since 1982. We have over 206 years of professional tax experience.
As former IRS agents, managers and teaching instructors, we know the exact process to get your money back from the Internal Revenue Service as a result of an IRS tax Levy, bank tax levy, wage tax garnishment levy and settle your case at the same time.
We understand the system because we worked the system for over 60 years and were teaching instructors at IRS that taught others their jobs at the IRS. we know every available tax solution that is available to taxpayers, businesses and corporations.
We worked in the local, district, and regional tax offices of the Internal Revenue Service.
There is a very specific system that IRS uses to remove an IRS bank levy tax levy or wage garnishment levy.
The Process to get your Tax Levy Removed by the IRS
As former IRS agents we filed hundreds of tax levies , both wage and bank levies so we understand the process and have a streamlined process to get an IRS tax Levy, Bank Levy wage garnishment levy released.
Before IRS releases a tax levy, bank tax levy or wage garnishment they will want a current financial statement to make a determination of how to close your case off the IRS enforcement computer.
That financial statement will be on IRS form 433F that you can find directly on our website.
This financial statement will need to be fully documented including copies of bank statements, pay stubs, and proof of all monthly expenses.
IRS will not release a tax levy or wage garnishment levy until they see a fully verified financial statement, there is no way out of this. The exception to the rule is if you want to streamline payment agreement and you meet the criteria for such.
IRS will do a close analysis of your statement with that of the national, and localized standards. You can find the acceptable standards on our website.
IRS will then release your IRS tax Levy, bank levy or wage garnishment and close your case generally with a payment agreement or by placing you in hardship.
Your levy can usually be released within 24 hours of IRS receiving your financial info.
If you owe tax to the IRS and need to settle your tax debt contact us today and we can get your IRS tax Levy, bank levy or wage garnishment released and your case settle all at the same time.
We are A+ rated by the Better Business Bureau and have been in private practice since 1982.
If you need to file back tax returns we can do so as well with little or no records.
When you call our firm he will speak to a true IRS tax expert.
We are A+ rated by the Better Business Bureau we have been in private practice since 1982.
STOP NOW * IRS Tax Levy, Bank, Wage Garnishment & Settle Tax Debt + Former IRS + Oxnard, Fontana, Moreno, Glendale, Huntington
by Jim Magary | Apr 8, 2015 | Tax Help
Small Business Health Care Tax Credit
Do you own or run a small business or tax-exempt group with fewer than 25 full-time employees?
If you do, you should know that the Small Business Health Care Tax Credit can help you provide insurance to your employees. You may be able to save on your taxes if you paid for at least half of their health insurance premiums.
Here are several things that you should know about this important credit:
• Maximum Credit.
For tax years beginning in 2014 and after, the maximum credit is 50 percent of premiums paid by small business employers. The limit is 35 percent of premiums paid by tax-exempt small employers, such as charities.
• Number of Employees.
You may qualify if you had fewer than 25 employees who work full-time, or a combination of full-time and part-time. For example, two half-time employees equal one full-time employee for purposes of the credit.
• Qualified Health Plan.
You must have paid premiums for your employees enrolled in a qualified health plan offered through a Small Business Health Options Program, or SHOP, Marketplace. There are limited exceptions to this requirement.
• Average Annual Wages.
To qualify for the credit, the average annual wages of your full-time equivalent employees must have been less than $51,000 in 2014. The IRS will adjust this amount for inflation each year.
• Half the Premiums.
You must have paid a uniform percentage of the cost of premiums for all employees. The amount you paid must be equal to at least 50 percent of the premium cost of the insurance coverage for each employee.
• Two Year Limit.
An eligible employer may claim the credit for any two-consecutive taxable years, beginning in or after 2014. This credit can be claimed for two consecutive years, even if you claimed the credit at any point from 2010 through 2013.
• Tax Forms to Use.
All employers use the Form 8941, Credit for Small Employer Health Insurance Premiums, to calculate the credit. For-profit businesses claim the credit on Form 3800, General Business Credit. Tax-exempt organizations claim it on Form 990-T, Exempt Organization Business Income Tax Return.
If you are a for-profit business and the credit is more than your tax liability for the year, you can carry the unused credit back or forward to other tax years.
If you are a tax-exempt employer, you may be eligible to receive the credit as a refund.
This applies so long as it does not exceed your income tax withholding and Medicare tax liability for the year.
Owe Back Taxes, call us today!
by Jim Magary | Apr 8, 2015 | Tax Help
Tax Help for the Military
The Volunteer Income Tax Assistance program has help sites both on and off base.
This includes VITA sites to help our military overseas.
Free tax help for the military:
1. Armed Forces Tax Council.
The Armed Forces Tax Council oversees the military tax programs offered worldwide. AFTC partners with the IRS to do outreach to the military.
This includes the Air Force, Army, Coast Guard, Marine Corps and Navy.
2. Trained volunteers.
IRS-trained volunteers staff the military VITA sites. They receive training on military tax issues, like tax benefits for service in a combat zone.
The staff can help you with special extensions of time to file your tax return and to pay your taxes or with special rules that apply to the Earned Income Tax Credit.
You can also get help with the new health care law tax provisions.
3. What to bring.
Take the following records with you to your military VITA site when you go to file your tax return:
Valid photo identification.
Social Security numbers for you, your spouse and dependents.
Birth dates for you, your spouse and dependents.
Your wage and earning forms, such as Forms W-2, W-2G, and 1099-R.
Interest and dividend statements (Forms 1099).
Health Insurance Marketplace Statement (Forms 1095-A).
Exemption Certificate Number for exemptions that you obtained through the Marketplace.
A copy of your last year’s federal and state tax returns, if available.
Routing and account numbers for direct deposit of your tax refund.
Total amount you paid for day care and the day care provider’s identifying number. This is usually an Employer Identification Number or Social Security number.
Other relevant information about your income and expenses.
Although nothing in the IRS rules or regulations require you to provide proof of health coverage at the time you file, if you have documents that verify your coverage, you should show them to your tax preparer.
The IRS will follow its normal compliance approach to filed tax returns, and may ask you to substantiate the information on your tax return. You should keep these documents with your tax records.
Learn more about the types of records you should keep at our Gathering Your Health Coverage Documentation page.
4. Joint returns.
If you are married filing a joint return, generally both you and your spouse need to sign. If you both can’t be present to sign the return, you should bring a valid power of attorney form. Use Form 2848, Power of Attorney and Declaration of Representative.
There is a special exception to this rule if your spouse is in a combat zone. The exception allows you to file a joint return with a signed statement explaining that your spouse is in a combat zone and unable to sign.
5. IRS Free File.
Do your own taxes with IRS Free File. You can use free, brand-name software or online fillable forms. If your income was $60,000 or less, you qualify for Free File software.
If you made more than $60,000, you can use Free File Fillable Forms.
Learn more at IRS.gov/free file.
by Jim Magary | Apr 8, 2015 | Tax Help
We can get your IRS tax levy released within a 24-hour period of time, we are the affordable professional tax firm.
If you are in receipt of an IRS tax levy, wage levy or bank levy garnishment contact us today and we can get your money back from the Internal Revenue Service.
We know the system.
We are composed of tax attorneys, CPAs and former IRS agents and managers who know the system.
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.
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. You can find this form on our website.
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. IRS usually uses financial statements to make determination on those who owe back taxes.
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. If this has happened to you can refile your returns and asked for an IRS audit reconsideration.
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.
Approximately 40% of all offers in compromise are accepted by Internal Revenue Service. The current wait time is nine months for IRS to work your offer in compromise.
Call us today and speak to a true IRS tax expert regarding the settling of your case by the Internal Revenue Service.
by Jim Magary | Apr 8, 2015 | Tax Help
We are an AFFORDABLE full-service professional tax firm that specializes in IRS tax filing and IRS tax debt relief.
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.
Our former IRS agents have worked as revenue agents, revenue officers, former teaching instructors and writing part of the internal revenue manual section 5.
Call us today for a free initial tax consultation program we can review your case and offer different remedies and tax resolutions depending on your situation.
If you need to file back tax returns we can do so with few records. It is a very important you file your back tax returns or the IRS will file for you under 6020 B of the Internal Revenue Code. IRS will make sure you pay the highest amount of tax allowed by law if you do not file your back tax returns.
We can prepare your back tax returns under reconstructive methods and if you are going to owe back tax will work out tax settlement for you.
If you wish to settle your IRS tax debt we can consider the filing of an offer in compromise.
41% of all offers in compromise are accepted by the Internal Revenue Service. A word of caution, you must be a qualified in suitable candidate for the offer in compromise program.
If the Internal Revenue Service does not accept an offer in compromise there are two other closing methods IRS uses, currently not collectible or an IRS payment plan.
Your current financial statement will determine the closing method that IRS we use to settle your case. That financial statement will be fully documented and be reviewed by an IRS agent.
FST can go ahead and prepare all your not file back tax returns and settle with the IRS via a payment plan a hardship plan or the offer in compromise. Call us today and we will review your case and let you know every available option in which one suits your current financial condition.
Call us today for a free initial tax consultation and speak directly to a true IRS tax expert.
IRS + Not Filed Back Tax Returns, Settle with IRS, Payment Plans, Offer in Compromise + Affordable + Modesto, Chula Vista, Fremont, Irvine, San Bernardino
