by Jim Magary | Feb 11, 2016 | Tax Help
We are affordable full service tax firm that specializes in the release of levies. Since 1982 we one of the most trusted tax resolution firms in the industry.
You can call us today and speak to a CPA or former government agent who knows the exact process of how to get a fast and affordable levy release with the possibility of settling your case at the same time through an offer in compromise.
As a general rule, the board of equalization does not send out a tax levies until it tries to take positive steps to reckon the collection of the tax through voluntary compliance.
Should voluntary compliance fail, collection activities includes liens, levies, wage garnishments , suspension of licenses and other similar actions.
The appropriate collection actions are determined by the collection staff after a careful review each taxpayer circumstances and compliance history.
The decision to take summary collection actions is not taken lightly and it is never the first option they always asked to voluntarily collect the facts
The levy procedures are as follows:
After steps have been taken to collect the money and all notices have been sent and the tax liability still remains at large as well as all voluntary compliance methods have failed and the taxpayer has not make arrangements to pay the tax, a notice of levy is usually the most effective collection activity taken by the BOE staff.
When the financial institution or others holding the asset receive the levy it will a place a 10 day hold on the taxpayer’s assets unless a claim of exemption is filed within 10 days.
The funds will be sent on the 11th day. The tax levy notice that is sent will include two copies one that is sent to the entity being levied typically the bank or credit union and a copy to the taxpayer.
Should you have any question call us today for free initial tax consultation and we will walk you through the process of obtaining a levy release. We are a full service tax firm with all work being done in-house.
Tax Levy California + Board Of Equalization + Fast Bank Levy Releases
by Jim Magary | Feb 11, 2016 | Tax Help
We’re an affordable professional tax firm that specialize in the releases and settlements of the California Board of equalization tax levies. Since 1982 1-866-700-1040
If you owe back taxes to the California Board of equalization the state of California has the right to go ahead and serve a notice of levy.
Call us today for free initial tax consultation and we can walk you through the process of obtaining releases.
Please keep in mind that an offer in compromise is possible through the state of California for those trying to settle their tax debt. You can settle your debt for pennies on a dollar.
When you call us and speak to us we will walk you through the offer in compromise program.
The Applicable Law
Notice of levy. (a) The board may, by notice of levy, served personally or by first-class mail, require all persons having in their possession, or under their control, any payments, credits other than payments, or other personal property belonging to the fee payer or other person liable for any amount under this part to withhold from these credits or other personal property the amount of the fee, interest, or penalties due from the fee payer or other person, or the amount of any liability incurred under this part, and to transmit the amount withheld to the board at the time it may designate.
The notice of levy shall have the same effect as a levy pursuant to a writ of execution except for the continuing effect of the levy, as provided in subdivision (b).
(b) The amount required to be withheld is the lesser of the following:
(1) The amount due stated on the notice.
(2) The sum of both of the following:
(A) The amount of the payments, credits other than payments, or personal property described above and under the person’s possession or control when the notice of levy is served on the person.
(B) The amount of each payment that becomes due following service of the notice of levy on the person and prior to the expiration of the levy.
(c) For the purposes of this section, the term “payments” does not include earnings as that term is defined in subdivision (a) of Section 706.011 of the Code of Civil Procedure or funds in a deposit account as defined in Section 9105 of the Commercial Code. The term “payments” does include any of the following:
(1) Payments due for services of independent contractors, dividends, rents, royalties, residuals, patent rights, or mineral or other natural rights.
(2) Payments or credits due or becoming due periodically as a result of an enforceable obligation to the fee payer or other person liable for the fee.
(3) Any other payments or credits due or becoming due the fee payer or other person liable as the result of written or oral contracts for services or sales whether denominated as wages, salary, commission, bonus, or otherwise.
(d) In the case of a financial institution, to be effective, the notice shall state the amount due from the feepayer and shall be delivered or mailed to the branch office of the financial institution where the credits or other property are held, unless another branch or office is designated by the financial institution to receive the notice.
History.—Stats. 1998, Ch. 609 (SB 2232), in effect January 1, 1999, added subdivision designation “(a)” to the first paragraph and “(d)” to the second paragraph, substituted “payments, credits other than payments,” after “their control, any” in the first sentence, and added “The notice of . . . in subdivision (b).” as the second sentence in subdivision (a), and added subdivisions (b) and (c).
Text of section operative July 1, 2001
55205. Notice of levy. (a) The board may, by notice of levy, served personally or by first-class mail, require all persons having in their possession, or under their control, any payments, credits other than payments, or other personal property belonging to the feepayer or other person liable for any amount under this part to withhold from these credits or other personal property the amount of the fee, interest, or penalties due from the feepayer or other person, or the amount of any liability incurred under this part, and to transmit the amount withheld to the board at the time it may designate.
The notice of levy shall have the same effect as a levy pursuant to a writ of execution except for the continuing effect of the levy, as provided in subdivision (b).
(b) The amount required to be withheld is the lesser of the following:
(1) The amount due stated on the notice.
(2) The sum of both of the following:
(A) The amount of the payments, credits other than payments, or personal property described above and under the person’s possession or control when the notice of levy is served on the person.
(B) The amount of each payment that becomes due following service of the notice of levy on the person and prior to the expiration of the levy.
(c) For the purposes of this section, the term “payments” does not include earnings as that term is defined in subdivision (a) of Section 706.011 of the Code of Civil Procedure or funds in a deposit account as defined in paragraph (29) of subdivision (a) of Section 9102 of the Commercial Code. The term “payments” does include any of the following:
(1) Payments due for services of independent contractors, dividends, rents, royalties, residuals, patent rights, or mineral or other natural rights.
(2) Payments or credits due or becoming due periodically as a result of an enforceable obligation to the feepayer or other person liable for the fee.
(3) Any other payments or credits due or becoming due the feepayer or other person liable as the result of written or oral contracts for services or sales whether denominated as wages, salary, commission, bonus, or otherwise.
(d) In the case of a financial institution, to be effective, the notice shall state the amount due from the feepayer and shall be delivered or mailed to the branch office of the financial institution where the credits or other property are held, unless another branch or office is designated by the financial institution to receive the notice.
History.—Stats. 1998, Ch. 609 (SB 2232), in effect January 1, 1999, added subdivision designation “(a)” to the first paragraph and “(d)” to the second paragraph, substituted “payments, credits other than payments,” after “their control, any” in the first sentence, and added
“The notice of . . . in subdivision (b).” as the second sentence in subdivision (a), and added subdivisions (b) and (c). Stats. 1999, Ch. 991 (SB 45), in effect January 1, 2000, but operative July 1, 2001, substituted “paragraph (29) of subdivision (c) of Section 9102” for “Section 9105” after “as defined in” in subdivision (d).
by Jim Magary | Feb 10, 2016 | Tax Help
We are Affordable Tax Experts for Release and Settlements of Tax Levies and Back Taxes, Since 1982.
We are a friendly full service tax firm that specializes in immediate and permanent tax relief.
We have over 206 years of professional tax experience and over 65 years of working for government agencies.
We specialize in the reduction in settlement of tax debt in the filing of back tax returns.
California Taxes
If you do not pay your amount due or make arrangements to settle your debt, the State may levy (seize) any type of real or personal property that you own or have an interest in.
Note: Levies are different from liens.
A lien is a claim used as security for the tax or fee debt, whereas a levy actually takes the property to satisfy the tax or fee debt.
We will usually levy property only after we have sent you a Demand for Payment and you have neglected or refused to pay the tax or fee.
Examples
• The State could levy property that is yours but held by someone else, for example, your wages, dividends, bank accounts, licenses, rental income, accounts receivables, the cash value of your life insurance, or commissions, or
• If you hold an alcoholic beverage license, we could seize and sell that license, or
• They could seize and sell property that you hold—for example, your boat or vehicle.
If your property is levied or seized and you have questions, you should call us immediately.
Levying your bank account
If they levy your bank account, the levy generally only captures the funds on deposit at the time the bank receives the levy (up to the amount of the levy).
The bank must hold the captured funds you have on deposit for
10 days.
This period allows you time to file for a hardship hearing, to show that the funds are exempt from levy under federal or state law, or to make
other satisfactory arrangements to pay.
After 10 days, the bank must send the money plus additional interest
if it applies, to the BOE. Once the BOE deposits the captured funds, you would need to file a claim for refund to request return of the funds.
They must release your levy if any of the following occur:
• You pay the amount you owe in certified funds (cash, cashier’s check, or money order).
• They determine the levy is creating a significant economic hardship for you.
- If they have mistakenly levied your account
If you paid bank charges because of a mistake we made when they levied your account, you may be entitled
to reimbursement.
You must file a reimbursement claim with us within 90 days after we issued the levy.
Your claim should be mailed to the BOE office that sent the Notice of Levy.
Levying your salary or wages
They may issue a levy on your wages, or an Earnings Withholding Order, which typically seizes 25 percent
of your after‐tax income from each paycheck.
If you request a hardship hearing, one will be provided to you by a BOE supervisor or office lead person.
You will be asked to complete a BOE‐ 403‐E, individual Financial Statement, and provide supporting documentation of your inability to pay.
If you have a documented hardship, the withholding order may be reduced or released.
If we levy your salary or wages, the levy will end when:
• The levy is released,
• You pay your amount due, or
• The time expires for legally
collecting the amount due.
Fast Release Tax Levy = Board of California Board of Equalization + BOE
by Jim Magary | Feb 10, 2016 | Tax Help
We are a Affordable full service tax firm that specialized in tax relief for the board of equalization, California Board of Equalization – BOE
The California Board of Equalization administers sales and use taxes, property taxes, special taxes, and the tax appellate program. It has various enforcement tools that uses to fully enforce the tax laws of California.
The California BOE does everything they can to collect these back taxes.
Fresh Start Tax comprised of tax attorneys, tax lawyers, certified public accountants, and former government agents who can go ahead and represent your very best interest regarding any tax matter and settle your tax debt.
California Board of Equalization – BOE
Tax Levies, Tax Liens
A tax levy may be initiated against you if you fail to make satisfactory payment arrangements with the department, fail to respond to a final demand notice, fail to keep your installment arrangement, or fail to provide financial information to the taxing department upon request. This is there chief collection tool.
A tax lien is a legal claim against real or personal property to secure a debt. If you have a delinquent tax balance with the State, the BOE may record a tax lien to secure the tax debt. The tax lien also encumbers your California property, preventing you from refinancing, selling, or transferring it through escrow. It can also destroy your credit.If the BOE records a lien against you, they have secured a legal right to enforce collections, which may include bank levies and other asset seizures.
There are different options you have to get the tax when he released and upon your initial call to us we will explain the various options to you.
When you call us we will go over your various options of settling your tax debt.
Owe Taxes + State Board of Equalization Tax Debt + Levy, Lien, Settlement Options + California Board of Equalization – BOE
by Jim Magary | Feb 10, 2016 | Tax Help
We are affordable professional firm that can help you settle a tax debt with the State Board of Equalization. Since 1982.
We are tax experts for Settling Your Tax Debt!
We have over 206 years of professional tax experience and over 65 years of working directly for government agencies and handling back tax issues and tax audits. Call us today for free initial tax consultation and we will walk you through the process of settling your tax debt.
How can you settle your tax debt?
What is an Offer in Compromise?
An Offer in Compromise (OIC) is a proposal to pay the Board of Equalization (Board) an amount that is less than the full tax or fee liability due.
Do you qualify for the OIC program?
The OIC program is for taxpayers or feepayers that do not have, and will not have in the foreseeable future, the income, assets, or means to pay their tax liability in full. You qualify for the program if you meet all of the following criteria:
• Have a final tax or fee liability on a closed account.
• Are no longer associated with the business that incurred the liability or a similar type of business.
• Do not dispute the amount of tax or fee you owe.
• Cannot pay the full amount you owe in a reasonable amount of time.
Effective January 1, 2009 through January 1, 2018, the Board will also consider an OIC for open and active businesses that have not received reimbursement from the taxes, fees, or surcharges owed; successors of businesses that may have inherited tax liabilities from their predecessors; and consumers, who are not required to hold a seller’s permit, but incurred a use tax liability.
How do you apply? By Calling us 1-866-700-1040
You must complete an OIC Application (form BOE-490 for individuals or form BOE-490-C for all other entities) and submit it with the supporting documentation listed on the second page of the application to the Board of Equalization collector assigned to your account.
If your account is not assigned to a collector, please contact your local district office or division that administers your account. For more specific information on the OIC process, you may contact the OIC Section at 916 322-7931.
If you have liabilities with multiple state tax agencies, it may be helpful to use the Multi-Agency application (/pdf/de999ca.pdf ).
This application can be used to apply for OIC programs with BOE, EDD, and FTB without duplication of forms or other paperwork. If you use the Multi-Agency application, you will still need to negotiate separate payment arrangements with each agency.
How are OIC’s evaluated?
Although each case is evaluated based on its own unique set of facts and circumstances, the Board will give the following factors strong consideration:
• The taxpayer’s ability to pay
• The amount of equity in the taxpayer’s assets
• The taxpayer’s present and future income
• The taxpayer’s present and future expenses
• The potential for changed circumstances
Generally, we approve an OIC when the amount offered represents the most the Board can expect to collect within a reasonable period of time. The OIC must be in the State’s best interest.
Please note: If you have been assessed a fraud penalty, a minimum offer of the outstanding tax and fraud penalty is required for processing. However, if you have been convicted of a felony tax evasion, an offer will not be considered.
