by Jim Magary | Feb 18, 2015 | Tax Help
We are comprised of AFFORDABLE former IRS agents and managers who know the system.
We have been in private practice is 1982 and are A+ rated by the Better Business Bureau.
On staff for tax attorneys, CPAs and former IRS Agents that have worked directly for the IRS.
We Are a Full Service Tax Firm That Has a Special and Unique Expertise in Resolving IRS Matters Because Of Our Unique Expertise to Solving Back Tax Problems.
Resolving IRS Tax Debt.
The Internal Revenue Service has a methodical way of resolving IRS tax debt.
As a general rule it requires a current documented financial statement.
After the IRS reviews your financial statement and does a analysis of your financial statement, as a general rule they will put you into not collectible status, asked for a monthly payments, or may let you know you are eligible to file an offer in compromise.
Over 41% of all offers in compromise are now accepted by the Internal Revenue Service via the new fresh start initiative program.
You can call us today for free initial tax consultation and we will let you know if you are eligible candidate to settle your tax debt through the offer in compromise.
Filing back tax returns
Many taxpayers are afraid to file back tax returns.
However, sooner or later the Internal Revenue Service is to catch up with them and furthermore IRS can file their tax return for you.
As former IRS agents, FST can file your back tax returns and workout tax settlement all at the same time.
Call us today for free initial tax consultation and we will walk you through the various programs.
If you will back payroll taxes.
If you will back payroll taxes it is going to become in critical that you become current in the month the IRS is working your case.
As a former IRS revenue officer I have worked hundreds upon hundreds of back payroll taxes there is a very specific system to get you approved into the IRS program today.
Call me today for free initial tax consultation.
Owe Back Taxes – Resolve IRS Tax Debt, File Back Tax Returns, Offer in Compromise, Owe Payroll Taxes = Des Moines, Cedar Rapids, Davenport, Sioux City, Waterloo
by Jim Magary | Feb 18, 2015 | Tax Help
Capital Gains and Losses
When you sell a capital asset the sale results in a capital gain or loss. A capital asset includes most property you own for personal use or own as an investment.
Here are facts that you should know about capital gains and losses:
1. Capital Assets.
Capital assets include property such as your home or car, as well as investment property, such as stocks and bonds.
2. Gains and Losses.
A capital gain or loss is the difference between your basis and the amount you get when you sell an asset. Your basis is usually what you paid for the asset.
3. Net Investment Income Tax.
You must include all capital gains in your income and you may be subject to the Net Investment Income Tax. This tax applies to certain net investment income of individuals, estates and trusts that have income above statutory threshold amounts. The rate of this tax is 3.8 percent. For details visit IRS.gov.
4. Deductible Losses.
You can deduct capital losses on the sale of investment property. You cannot deduct losses on the sale of property that you hold for personal use.
5. Long and Short Term.
Capital gains and losses are either long-term or short-term, depending on how long you held the property. If you held the property for more than one year, your gain or loss is long-term. If you held it one year or less, the gain or loss is short-term.
6. Net Capital Gain.
If your long-term gains are more than your long-term losses, the difference between the two is a net long-term capital gain. If your net long-term capital gain is more than your net short-term capital loss, you have a net capital gain.
7. Tax Rate.
The capital gains tax rate usually depends on your income. The maximum net capital gain tax rate is 20 percent. However, for most taxpayers a zero or 15 percent rate will apply. A 25 or 28 percent tax rate can also apply to certain types of net capital gains.
8. Limit on Losses.
If your capital losses are more than your capital gains, you can deduct the difference as a loss on your tax return. This loss is limited to $3,000 per year, or $1,500 if you are married and file a separate return.
9. Carryover Losses.
If your total net capital loss is more than the limit you can deduct, you can carry over the losses you are not able to deduct to next year’s tax return. You will treat those losses as if they happened in that next year.
10. Forms to File.
You often will need to file Form 8949, Sales and Other Dispositions of Capital Assets, with your federal tax return to report your gains and losses.
You also need to file Schedule D, Capital Gains and Losses with your tax return.
by Jim Magary | Feb 17, 2015 | Tax Help
We are a full service tax firm that specialize in IRS problems and tax matters.
We are comprised the tax attorneys, tax lawyers, certified public accountants enrolled agents and former IRS may agents managers and tax instructors.
We have over 60 years of direct work experience and knowledge in the local, district, and regional tax offices of the Internal Revenue Service.
We had been in private practice since 1982 and specialize in those taxpayers, individuals, businesses, partnerships and corporations that are undergoing an IRS tax levy, under IRS tax audit, need a IRS tax settlement or need to file back tax returns.
IRS Tax Levy
Within 24 hours of receiving your current documented financial statement as a general rule we can get an IRS bank levy or wage garnishment levy released in your case closed with the Internal Revenue Service.
They will use different closing strategies all determined by IRS in your current financial statement.
IRS Tax Audit
If you are undergoing an IRS tax audit you can have a former IRS agent manager or tax attorney represent you during your IRS tax audit.
Less than 1% of all taxpayers are audited by the IRS but in case you are one of those unlucky people get the very best and most affordable tax representation for an IRS tax audit.
IRS Settlement
If you are looking for an IRS tax debt settlement called an offer in compromise, you can have a former IRS agent teaching instructor revenue officer review and file your offer in compromise. Over 42% of all offers in compromise are accepted by the IRS.
We are a full-service firm and specialize in any back tax problems including the filing of current or back tax returns.
Call us today for a free initial tax consultation
Affordable IRS Attorneys, IRS Tax Law Help = IRS Tax Levy, IRS Tax Audit, IRS Tax Settlement, File Tax Returns = Des Moines, Cedar Rapids, Davenport, Sioux City, Waterloo
by Jim Magary | Feb 13, 2015 | Tax Help
and you
FST has over 206 years 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 Internal Revenue Service. We KNOW the SYSTEM.
As former IRS agents some on our staff taught tax law and wrote part of the IRM section 5 dealing with the collection division.
FST can provide immediate tax levy relief of bank and wage garnishment levies, IRS audits, IRS settlements call offers in compromise, IRS payment plans and any type of IRS matter situation or problem that may arise.
We can represent you on any IRS or state tax matter. We have a whole host of other professionals at work here including tax attorneys, certified public accountants, enrolled agents and a full tax and accounting service.
All our work is done in-house.
There is a difference between an IRS bank levy and a wage garnishment levy.
the IRS only sends out and Iris Bank Levy wage garnishment notice when taxpayers have not responded to final notices. and you
Banks do not need to forward funds from the received levy until the 22nd day after receipt giving the taxpayer 21 days to solve their problem.
A wage levy garnishment is an immediate seizure of the majority of your next paycheck.
As unfair as it is it is possible to get your levy released within 24 hours of receiving a financial statement.
To get an IRS tax levy, bank levy or wage garnishment release, IRS will need a current documented financial statement along with three months worth of bank statements, monthly expenses and a copy of your pay stub to prove your income.
Internal Revenue Service will analyze your current financial statement and make a closing decision to remedy your case.
As a general rule the two main solutions are putting your case into a temporary hardship or asking for a monthly payment agreement.
Your financial statement will dictate how IRS will take your case off their enforcement computer.
Others opt to file for offer in compromise to settle their tax debt through the new fresh start tax initiative called the offer in compromise.
The good news about the IRS tax debt settlement program is the fact that 41% of all taxpayers who apply get accepted for an average of $.14 on the dollar but you must meet the qualifications.
We file no offers unless you are a qualified candidate.
Don’t be duped by other firms promising pennies on the dollar.
I can tell you this because I am a former IRS agent teaching instructor who work the offer in compromise program is a former employee.
Call us today we are a full service tax firm having a unique expertise and all IRS matters.
We’ve been practicing since 1982 in our A+ rated by the BBB.
Here the truth about your case by calling us today and seeking the advice of a true affordable IRS tax expert.
by Jim Magary | Feb 13, 2015 | Tax Help
Trust your problem to AFFORDABLE former IRS agents and managers who know the system.
FST has over 206 years 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 Internal Revenue Service.
As former IRS agents we taught tax law and wrote part of the IRM section 5 dealing with the collection division. we are truly affordable tax experts when it comes to solving any IRS tax problem, matter, state or federal.
We provide immediate tax levy relief of bank and wage garnishment levies, IRS audits, IRS settlements call offers in compromise, IRS payment plans and any type of IRS matter situation or problem that may arise.
Immediate relief of an IRS tax levy, bank levy or wage garnishments
There is a difference between an IRS bank levy and a wage garnishment levy.
Banks do not need to forward funds from the received levy until the 22nd day after receipt giving the taxpayer 21 days to solve their problem.
A wage levy garnishment is an immediate seizure of the majority of your next paycheck.
As unfair as it is it is possible to get your levy released within 24 hours of receiving a financial statement.
To get an IRS tax levy, bank levy or wage garnishment release, IRS will need a current documented financial statement along with three months worth of bank statements, monthly expenses and a copy of your pay stub to prove your income.
Internal Revenue Service will analyze your current financial statement and make a closing decision to remedy your case.
As a general rule the two main solutions are putting your case into a temporary hardship or asking for a monthly payment agreement.
Your financial statement will dictate how IRS will take your case off their enforcement computer.
Others opt to file for offer in compromise to settle their tax debt through the new fresh start tax initiative called the offer in compromise.
The good news about the IRS tax debt settlement program is the fact that 41% of all taxpayers who apply get accepted for an average of $.14 on the dollar but you must meet the qualifications.
We file no offers unless you are a qualified candidate.
Don’t be duped by other firms promising pennies on the dollar.
I can tell you this because I am a former IRS agent teaching instructor who work the offer in compromise program is a former employee.
Call us to get more details.
If you owe back tax will review the situation and can enter you either into a hardship program or have you make back payments depending on your current financial condition.
Call us today we are a full service tax firm having a unique expertise and all IRS matters.
We’ve been practicing since 1982 in our A+ rated by the BBB.
Minneapolis + Stop IRS Tax Levy, Bank & Wage Levies, Settle IRS Back Taxes, File Back Taxes * Fast Affordable* Former IRS
