by Jim Magary | Apr 2, 2015 | Tax Help
We are an AFFORDABLE full service IRS Expert tax firm that specializes IRS tax levy & wage garnishment help and immediate tax settlement relief.
We are composed of tax attorneys, tax lawyers, certified public accountants, enrolled agents and former IRS agents managers and tax instructors.
Our former IRS agents were not only managers, supervisors and teaching instructors some also wrote the Internal Revenue Service IRM section 5 of the collection division manual.
Due to our 60 years of working directly for the Internal Revenue Service we know the system inside and out.
We know the system it can help you get your money back from the Internal Revenue Service if you have received an IRS tax levy, or wage garnishment levy.
Not only can we get your IRS bank levy tax levy or wage garnishment released we can closure case at the same time.
Believe it or not, The Internal Revenue Service sends out close to 1.9 million IRS tax and wage garnishment levies each and every year. You are not alone!
There is a very specific system to get your IRS tax levy or IRS wage garnishment levy released / removed and we know the system because of our 60 years of direct IRS work experience.
A current financial statement.
The Internal Revenue Service will need a current financial statement fully documented before they will release a tax levy.
After the Internal Revenue Service reviews your financial statement they will usually close your case in one of two ways.
The Internal Revenue Service may determine that you are currently uncollectible and then write off your case for two or three years or the IRS may insist on a monthly payment agreement. The IRS monthly payment will be determined by your current financial statement and your relationship to your current living expenses and income based on the IRS national standards.
There are many taxpayers eligible for an offer in compromise to settle your tax debt.
38,000 taxpayer settled their tax debt with the Internal Revenue Service for an average of $.14 on the dollar. When reviewing your case we will find out if you are eligible to settle your tax debt. The average settlement is $6500 per the latest statistics by the Department of treasury.
Call us today to review your case and we will immediately get your IRS tax levy or wage levy garnishment released and find out if you are an eligible candidate for the offer compromise program offered by the Internal Revenue Service.
Call us today for a free initial tax consultation.
Expert IRS Tax Levy, Wage Garnishment Levy Removal & Settlement NOW, Former IRS, Affordable + Santa Barbara, San Jose, Daly City, Antioch
by Jim Magary | Apr 2, 2015 | Tax Help
We are an Affordable team of former IRS agents and managers who have over 60 years working for the IRS. We know the system to resolve any IRS tax problem!
If you have an IRS tax problem call us today and we will go over the various solutions to go ahead and get IRS off your back.
The Internal Revenue Service is the largest collection agency in the world and has tools that can make your life miserable. with a simple letter the Internal Revenue Service can reach in your bank account, your paycheck and ruin your credit with the filing of a federal tax lien.
We’ve been in practice since 1982 and we have over 206 years of professional combined experience. We know the system and the ins and outs of Internal Revenue Service.
We are A+ rated by the Better Business Bureau.
We specialize in immediate and permanent IRS tax relief.
If you have received any IRS notice or letter, as a general rule, with one phone call and the filing of a power of attorney we can stop the Internal Revenue Service.
You will never have to speak to the Internal Revenue Service we handle all the communication.
The IRS Tax Billing Notices
1. CP 14 – This is the notice of balance due,
2.CP 501 – This is a Bill that you still owe tax,
3. CP503 – Important, Immediate Action Required
4. CP 504 Urgent Notice – We Intend to Levy on Certain Assets, Please Respond Now
5. CP90/CP297/ IRS Letter 1058 – Final Notice of Intent to Levy of Your Right to a Hearing
6.CP 91 CP298 – IRS Final Notice on Social Security
If you have received an IRS tax levy, bank levy or wage garnishment on a paycheck, within 24 hours of receiving a current documented financial statement and as a general rule, we can obtain or remove the IRS levy.
If you have received a federal tax lien we can go over the various options to go ahead and get your tax lien released.
If you owe IRS tax debt we can talk to you about getting your case put into a hardship, entering into a payment plan or the submission of an offer in compromise.
Since 1982, A+ rated and over 206 years of professional expect tax experience.
Quick tax facts.
IRS accepts 43% of all offers in compromise, IRS files over 900,000 federal tax liens every year. The average debt settlement is $.14 on the dollar, over 6 million taxpayers asked for payment agreements on a yearly basis.
IRS Taxes Relief = Final Notices = Levy, Paycheck Garnishment, Seizure, Tax Lien, Payment Plans, Offer in Compromise ,Santa Barbara, San Jose, Daly City, Antioch
by Jim Magary | Apr 2, 2015 | Tax Help
FST is an affordable professional tax firm who can get your tax levy bank levy or wage garnishment levy released a removed within 24 hours & settle your back taxes.
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, within 24 hours.
You will need to comply with all the request of Internal Revenue Service to support the current financial statement.
We can not only get your IRS tax levy released and removed we can settle your case all at the same time.
We understand the tax levy 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 are true IRS tax experts.
FST knows and understands the fastest and the most affordable way to go ahead and get a removal or release of an IRS tax or wage garnishment levy and settle your case to stop the IRS . Do not be bullied by the IRS, we can stop them right now because of our system knowledge.
As a general rule there are two types of tax levies.
A IRS bank levy in different from a IRS wage garnishment levy even know both seize money. The seizure rules are a little different.
With an IRS bank levy the bank will hold your money for 21 days until it sends it to IRS, basically your account was frozen.
Within IRS wage garnishment levy a good majority of your next paycheck is on its way to Uncle Sam.
The Process and system to get your Tax Levy, Wage Garnishment Released and Removed
We taught this process at the IRS as former IRS agents and managers. With over 60 years with the Internal Revenue Service we know the exact process to get your levy be removed quickly and affordably.
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. The tax form they will want is tax form 433 f. This is their version of the only financial statement that they will accept.
You will find that form on our website under IRS forms.
Their financial statement will need to be fully documented including copies of bank statements, pay stubs, and proof of all monthly expenses.
Everything needs to be in the package before the IRS will release the IRS tax Levy.
IRS will conduct a full review on the financial statement that’s why it is critically important that you have professional tax representation.
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.
IRS will do this usually within 24 hours of receiving your financial info. Taxpayers should have the fax number of the person holding the funds so IRS can send the levy release directly from their computers.
Your financial statement determines how your case will be closed by the Internal Revenue Service. It is important a tax professional negotiates this process.
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.
Since 1982 we have been true tax experts. We are a full service tax firm.
Remove IRS Tax Levy, Bank Levy, Wage Garnishment Levy, Settle Tax Debt/ Back Taxes = Fast, Affordable = Former IRS Santa Barbara, San Jose, Daly City, Antioch
by Jim Magary | Apr 2, 2015 | Tax Help
Michael D. Sullivan
Former IRS Agent, Revenue Officer & Teaching Instructor
Michael D. Sullivan is one of the founders of Fresh Start Tax LLC.
He had a distinguished career with the Internal Revenue Service for 10 years. He has been in private practice since 1983.
He is an expert in IRS in IRS matters and current trends.
He also collaborated with the U.S. Attorney’s office in many undercover operations. Michael received several awards for his work and dedication as a Revenue Officer.
During his tenure with the IRS, he was a Certified Tax Instructor who taught out of the Atlanta Regional IRS Training Offices.
He also taught out of the local and district offices of the IRS.
Mr. Sullivan trained many of the new and seasoned IRS Agents.
Michael has been in private practice for the last 30 years in the field of Taxpayer Consultation for IRS tax resolution issues.
He often consults with corporations and individuals, which involves a wide range of tax issues.
Michael has worked many large complex cases for high net worth individuals and large corporations. Mr. Sullivan is a committed professional with dedicated involvement in the tax profession community as a frequent speaker on the South Florida circuit and also served as an officer and on the Board of the Greater South Florida Tax Council.
Michael has been the program host and moderator for several Internal Revenue Service forums both in the public and professional sectors.
Michael is also a member of the National Society of Accountants. Mr. Sullivan is also registered with the Department of Business and Professional Regulation and has an approved class for IRS Collection Matters for Certified Public Accountants and Attorneys. Course # 0012279 expires 11/04/2016.
Michael graduated from St. Thomas University with a B.A. in Pre-Law. He also has attended Knox Theological Seminary. Mr. Sullivan has obtained a Life Time Achievement Award for Little League Baseball and currently sits on the International Board for the Walk to Emmaus. Michael also is a proud member of the Life Work Leadership program.
Michael is very active in the various ministries of his church where he can be found leading and teaching Biblical Studies. He has been the Southeast Florida District Lay Leader of the United Methodist Church.
Mr. Sullivan can be heard on Net Grace FM, for the Christian Business Weekly show.
Mr Sullivan has appeared on FOX BUSINESS NEWS.
http://video.foxbusiness.com/v/4147654259001/tips-for-getting-through-to-the-irs/?#sp=show-clips
Former IRS Agent & Teaching Instructor, 30 Years Experience, IRS Tax Help
by Jim Magary | Apr 1, 2015 | Tax Help
Is Your Gift is Taxable
If you gave money or property to someone as a gift, you may wonder about the federal gift tax.
Tax tips about gifts and the gift tax.
1. Nontaxable Gifts.
The general rule is that any gift is a taxable gift. However, there are exceptions to this rule. The following are not taxable gifts:
Gifts that do not exceed the annual exclusion for the calendar year,
Tuition or medical expenses you paid directly to a medical or educational institution for someone,
Gifts to your spouse (for federal tax purposes, the term “spouse” includes individuals of the same sex who are lawfully married),
Gifts to a political organization for its use, and
Gifts to charities.
2. Annual Exclusion.
Most gifts are not subject to the gift tax. For example, there is usually no tax if you make a gift to your spouse or to a charity. If you give a gift to someone else, the gift tax usually does not apply until the value of the gift exceeds the annual exclusion for the year. For 2014 and 2015, the annual exclusion is $14,000.
3. No Tax on Recipient.
Generally, the person who receives your gift will not have to pay a federal gift tax. That person also does not pay income tax on the value of the gift received.
4. Gifts Not Deductible.
Making a gift does not ordinarily affect your federal income tax. You cannot deduct the value of gifts you make (other than deductible charitable contributions).
5. Forgiven and Certain Loans.
The gift tax may also apply when you forgive a debt or make a loan that is interest-free or below the market interest rate.
6. Gift-Splitting.
You and your spouse can give a gift up to $28,000 to a third party without making it a taxable gift. You can consider that one-half of the gift be given by you and one-half by your spouse.
7. Filing Requirement.
You must file Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return, if any of the following apply:
1. You gave gifts to at least one person (other than your spouse) that amount to more than the annual exclusion for the year.
2 . You and your spouse are splitting a gift. This is true even if half of the split gift is less than the annual exclusion.
3. You gave someone (other than your spouse) a gift of a future interest that they can’t actually possess, enjoy, or from which they’ll receive income later.
You gave your spouse an interest in property that will terminate due to a future event.
