by Jim Magary | Jan 22, 2016 | Tax Help
Affordable former IRS agents who can get you back in the system worry free, since 1982.
Like everything in life there is a system.
As former IRS agents and managers we have a combined 65 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the IRS.
If you did not file or pay taxes we can walk you through the various programs to get you back in the system worry free.
As a former IRS agent and teaching instructor. There is a very specific process to get you back in the system worry free if you did not file or pay taxes.
The first thing that we do is send IRS a power of attorney letting them know they only have the right to contact us under your Bill of Rights.
All communication both verbal and written come through our offices. You will never have to speak to the IRS.
We next can pull an IRS tax transcript to find out what years have to be filed for your back tax returns.
With or without your back records we can prepare your tax returns by pulling these transcripts and the use of reconstructive methods that we learned at the Internal Revenue Service.
So don’t let the nonfiling of your back tax returns preclude you from moving forward.
If you owe IRS back taxes and cannot pay these taxes, IRS usually wants a current financial statement to make you determine your ability to pay IRS back.
As a general rule, IRS wants a documented 433F along with bank statements, copies of pay stubs, and copy of current expenses. They will apply your current income against the acceptable standards used by Internal Revenue Service.
As a result two things usually occur.
1. Your case will either be put into a currently not collectible, or, tax hardship status or,
2. You will be asked to make a monthly installment agreement to Internal Revenue Service.S
Some taxpayers qualify for the offer in compromise to settle their debt for pennies on a dollar.
The first thing we look to us to settle your case for pennies on the dollar if you are a qualified candidate.
Call us today for free initial tax consultation and we will walk you through the system on how to get immediate and permanent relief from the Internal Revenue Service.
With over 65 years of combined IRS work experience we are one of the most trustworthy, professional, inexperienced tax forms.
When you call our office you will speak directly to a true IRS tax experts.
Some quick IRS tax facts:
Over 78,000 offers in compromise to settle tax debts were filed last year. IRS accepted 38% of those filed offers in compromise.
The average settlement was $6500 per case based on the taxpayer’s ability to pay back in their documented financial statements.
Are you eligible to settle your tax debt for pennies on a dollar?
Call us today to find out more on how to file back tax returns and settle your tax debt all at the same time.
Didn’t File or Pay Taxes ? Affordable Specialty Experts, Former IRS
by Jim Magary | Jan 22, 2016 | Tax Help
is the world’s
We are AFFORDABLE former IRS agents and managers who know the system can stop an IRS bank levy, continuous wage garnishment levy. Since 1982, A plus Rated BBB.
If you have received IRS form 668W, you have received a continuous wage garnishment. That wage garnishment levy will not go away until Internal Revenue Service sends a release to your employer. as a former IRS agent I used to file form 668W to garnish the wages of taxpayers who did not respond to IRS final notices.
If you have not responded to an IRS final notice the IRS computer system automatically generates a continuous wage garnishment notice. You will not get your next paycheck until you call IRS and get this levy garnishment released.
IRS Levies : The 668A is a one time wage levy garnishment or as 668W is a continuous levy.
We could not only stop your IRS bank levy or wage garnishment we can settle and close your case off the IRS enforcement computer at the same time.
As former IRS agents we used to send out bank levies and wage garnishment so it only makes sense that we know the processes and systems to release them. IRS has a very systematic way to work all seizure cases.
We have over 65 years of former IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service. As former IRS agents and managers we were teaching instructors and work to supervisors throughout the region.
You can call us today for initial tax consultation and we can walk you through the process within 10 minutes.
How to Stop a IRS Bank Tax Levy or a continuous IRS Wage Garnishment Levy NOW
It is important to know where your cases in the system to begin the stop the IRS tax levy.
Some taxpayers were sent a IRS letter 11 indicating that a tax levy was the next step, while others have been sent a IRS tax levy from the ACS unit out of various IRS offices, while others have been sent tax levies by revenue officers in the local offices.
If you have received IRS letter 11 there is a collection due process hearing that can stop the IRS levy.
If your case is in the ACS unit or the local office we can simply send over a power of attorney and start negotiation power to go ahead to get an immediate levy release and settle your IRS case at the same time.
It is important to know the difference between IRS bank levy and wage garnishment levy.
A IRS bank garnishment levy puts a freeze on your bank account for 21 days on the day the bank received the levy.
You can use the account is much as you want during that period of the levy. Only the monies that were in the bank the day of the levy are frozen by the institution.
A wage garnishment levy is an immediate and continuous garnishment whereas approximately 80% of your wages will be sent to the Internal Revenue Service until the levy garnishment is released.
Also IRS has IRS has a right to file a federal tax lien against any and all assets you may have. Those federal tax liens are filed in the courthouse were you claim your residence.
Final Notices before IRS Tax Levy or Garnishment: IRS Levies
Where does Internal Revenue Service (IRS) authority to levy originate?
The Internal Revenue Code (IRC) authorizes levies to collect delinquent tax.
See IRC 6331. Any property or right to property that belongs to the taxpayer or on which there is a Federal tax lien can be levied, unless the IRC exempts the property from levy.
What actions must the Internal Revenue Service take before a levy can be issued?
The IRS will usually levy only after these three requirements are met:
1. The IRS assessed the tax and sent you a Notice and Demand for Payment (a tax bill);
2. You neglected or refused to pay the tax; and
3. The IRS sent you a Final Notice of Intent to Levy and Notice of Your Right to A Hearing (levy notice) at least 30 days before the levy.
The IRS may give you this notice in person, leave it at your home or your usual place of business, or send it to your last known address by certified or registered mail, return receipt requested.
Please note: if the IRS levies your state tax refund, you may receive a Notice of Levy on Your State Tax Refund, Notice of Your Right to Hearing after the levy.
IRS Billing Notices for IRS Tax Levies & IRS Continuous Wage Garnishments
The IRS will send out final notices before levies and seizures after they generally send out a series of five billing notices.
On the fourth notice, taxpayers will receive their final notice in which they can go ahead and file with the appeals division of Internal Revenue Service to stop the levy.
Not only can we go ahead and stop the IRS notice of intent to levy, we can settle your case at the same time.
All your tax returns are going to have to be filed and if that is an issue for you, with or without tax records we can prepare your tax returns.
How IRS Settles Your Case
As a general rule, the Internal Revenue Service will take your current financial statement and after they reviewed your documented financial statement there is generally two ways IRS closes cases.
They generally closes your back taxes case by taxpayers putting you into a:
1.currently not collectible statuses or,
2. ask for a monthly payment agreement.
For taxpayers who owe back taxes statistics show that 40% of all taxpayers are placed in currently not collectible status, while 6.5 million taxpayers enter monthly payment or installment agreement.
Some taxpayers can be eligible for the offer in compromise program to settle their debt for pennies on the dollar.
We review every case we find out if you are a offer in compromise candidate to make this happen.
Last year IRS accepted 38,000 taxpayers to settle their debt to the offer in compromise program for an average of $6500 per settlement.
Keep in mind your current documented financial statement will determine the settlement on your particular case if you are a suitable candidate for the offer in compromise.
All taxpayers before wanting to file an offer in compromise should walk through the IRS pre-qualifier tool.
We will carefully review your current financial statement and make sure you get the best possible settlement with Internal Revenue Service.
We are a full service tax firm specializing in IRS collection and audit matters. since 1982,
Call us today for a free initial tax consultation in here the truth about your case in the different ways you can settle your tax debt.
At the very least, when you call our office you will find out how to stop a continuous wage garnishment levy.
Stop Continuous Wage Garnishment IRS Tax Levy + Get Money Back Now, Former IRS
by Jim Magary | Jan 22, 2016 | Tax Help
“Affordable” Former IRS Agents + Stop a IRS Tax Levy, Wage Garnishment RIGHT NOW + Since 1982
We are former IRS agents and managers who know the system can stop an IRS bank levy, wage garnishment levy, or any tax levy you may have received.
If you have received IRS form 668W, you have received a continuous wage garnishment. That wage garnishment levy will not go away until Internal Revenue Service sends a release to your employer.
The 668A is a one time wage levy garnishment or as 668W is a continuous levy.
We could not only stop your IRS bank levy or wage garnishment we can settle and close your case off the IRS enforcement computer at the same time.
As former IRS agents we used to send out bank levies and wage garnishment so it only makes sense that we know the processes and systems to release them. IRS has a very systematic way to work all seizure cases.
We have over 65 years of former IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service. As former IRS agents and managers we were teaching instructors and work to supervisors throughout the region.
You can call us today for initial tax consultation and we can walk you through the process within 10 minutes.
How to Stop a IRS Bank Tax Levy, IRS Wage Garnishment Levy NOW
It is important to know where your cases in the system to begin the stop the IRS tax levy.
Some taxpayers were sent a IRS letter 11 indicating that a tax levy was the next step, while others have been sent a IRS tax levy from the ACS unit out of various IRS offices, while others have been sent tax levies by revenue officers in the local offices.
If you have received IRS letter 11 there is a collection due process hearing that can stop the IRS levy.
If your case is in the ACS unit or the local office we can simply send over a power of attorney and start negotiation power to go ahead to get an immediate levy release and settle your IRS case at the same time.
It is important to know the difference between IRS bank levy and wage garnishment levy.
A IRS bank garnishment levy puts a freeze on your bank account for 21 days on the day the bank received the levy.
You can use the account is much as you want during that period of the levy. Only the monies that were in the bank the day of the levy are frozen by the institution.
A wage garnishment levy is an immediate garnishment whereas approximately 80% of your wages will be sent to the Internal Revenue Service until the levy garnishment is released.
Also IRS has IRS has a right to file a federal tax lien against any and all assets you may have. Those federal tax liens are filed in the courthouse were you claim your residence.
Final Notices before IRS Tax Levy or Garnishment: IRS Levies
Where does Internal Revenue Service (IRS) authority to levy originate?
The Internal Revenue Code (IRC) authorizes levies to collect delinquent tax.
See IRC 6331. Any property or right to property that belongs to the taxpayer or on which there is a Federal tax lien can be levied, unless the IRC exempts the property from levy.
What actions must the Internal Revenue Service take before a levy can be issued?
The IRS will usually levy only after these three requirements are met:
1. The IRS assessed the tax and sent you a Notice and Demand for Payment (a tax bill);
2. You neglected or refused to pay the tax; and
3. The IRS sent you a Final Notice of Intent to Levy and Notice of Your Right to A Hearing (levy notice) at least 30 days before the levy.
The IRS may give you this notice in person, leave it at your home or your usual place of business, or send it to your last known address by certified or registered mail, return receipt requested.
Please note: if the IRS levies your state tax refund, you may receive a Notice of Levy on Your State Tax Refund, Notice of Your Right to Hearing after the levy.
IRS Billing Notices for IRS Tax Levies & IRS Wage Garnishments
The IRS will send out final notices before levies and seizures after they generally send out a series of five billing notices.
On the fourth notice, taxpayers will receive their final notice in which they can go ahead and file with the appeals division of Internal Revenue Service to stop the levy.
Not only can we go ahead and stop the IRS notice of intent to levy, we can settle your case at the same time.
All your tax returns are going to have to be filed and if that is an issue for you, with or without tax records we can prepare your tax returns.
How IRS Settles Your Case
As a general rule, the Internal Revenue Service will take your current financial statement and after they reviewed your documented financial statement there is generally two ways IRS closes cases.
They generally closes your back taxes case by taxpayers putting you into a:
1.currently not collectible statuses or,
2. ask for a monthly payment agreement.
For taxpayers who owe back taxes statistics show that 40% of all taxpayers are placed in currently not collectible status, while 6.5 million taxpayers enter monthly payment or installment agreement.
Some taxpayers can be eligible for the offer in compromise program to settle their debt for pennies on the dollar.
We review every case we find out if you are a offer in compromise candidate to make this happen.
Last year IRS accepted 38,000 taxpayers to settle their debt to the offer in compromise program for an average of $6500 per settlement.
Keep in mind your current documented financial statement will determine the settlement on your particular case if you are a suitable candidate for the offer in compromise.
All taxpayers before wanting to file an offer in compromise should walk through the IRS pre-qualifier tool.
We will carefully review your current financial statement and make sure you get the best possible settlement with Internal Revenue Service.
We are a full service tax firm specializing in IRS collection and audit matters. since 1982,
Call us today for a free initial tax consultation in here the truth about your case in the different ways you can settle your tax debt.
At the very least, when you call our office you will find out how to stop a wage garnishment levy.
Stop Ongoing Wage Garnishment Levies = Relief Today + Former IRS
by Jim Magary | Jan 22, 2016 | Tax Help
IRS wants to know everything about everybody.
The W9 is the government’s way of making sure big brother knows everything about your business , those you associate with and those who you give your money to. that
A very important information item to understand is that the W9 does not have to be sent to Internal Revenue Service, it stays there with your business records.
So, who has to file a W9?
Anyone, yes anyone who did work for a company but was not an actual employee of that company is required to fill out W-9 federal income tax forms for every company for which they performed non-employee work.
W-9 forms are known as information reporting federal income tax forms. Other information reporting forms are W-2s, 1099s of all sorts.
IRS many times uses these information reports to track non-filers and levy bank accounts and garnish wages. The government wants to know is much financial information as they can about every taxpayer they have in the system.
Who might be asked to fill out a form W-9?
Independent freelancers and such. you should know that if IRS’s auditing and he said business they will ask for W -9 and have the right to disallow the business tax deduction if the W9 is not in the file.
Many times independent contractors and freelancers are brought in to perform work on projects that are short-term.
Another group that uses the W-9 income tax forms to report information to clients is consultants of any type.
Consultants come in and advise a company on a variety of verticals.
Sometimes training, CPE training and other things.
If you’ve consulted with a company, you are required to fill out W-9 income tax forms for each company you consulted with.
Other independent contractors, such as landscapers, repair people, fix er uppers all must also fill out W-9 income tax forms
This is true even if the work was carried out over a significant period of time.
Contractors working with a business for many years still turn in W-9 income tax forms.
These tax forms are also used to help the company avoid backup withholding from the checks they issue to you.
As an independent contractor, you are responsible for paying your own taxes.
Having a form W-9 on file for you allows companies to show the IRS that they do not owe payroll taxes.
Remember at the end of the day, big Brother is watching and will watch forever.
by Jim Magary | Jan 22, 2016 | Tax Help
Most people file a tax return because they have to, but even if you don’t, there are times when you should.
You may be eligible for a tax refund and not know it. Here are six tips to help you find out if you should file a tax return:
1. General Filing Rules.
Whether you need to file a tax return depends on a few factors. In most cases, the amount of your income, your filing status and your age determine if you must file a tax return.
For example, if you’re single and under age 65 you must file if your income was at least $10,300.
Other rules may apply if you’re self-employed or if you’re a dependent of another person. There are also other cases when you must file. Go to IRS.gov/filing to find out if you need to file.
2. Premium Tax Credit.
If you enrolled in health insurance through the Health Insurance Marketplace in 2015, you may be eligible for the premium tax credit.
You will need to file a return to claim the credit. If you chose to have advance payments of the premium tax credit sent directly to your insurer during 2015 you must file a federal tax return.
You will reconcile any advance payments with the allowable premium tax credit. You should receive Form 1095-A, Health Insurance Marketplace Statement, by early February. The form will have information that will help you file your tax return
3. Tax Withheld or Paid.
Did your employer withhold federal income tax from your pay?
Did you make estimated tax payments?
Did you overpay last year and have it applied to this year’s tax?
If you answered “yes” to any of these questions, you could be due a refund. But you have to file a tax return to get it.
4. Earned Income Tax Credit.
Did you work and earn less than $53,267 last year?
You could receive EITC as a tax refund, if you qualify, with or without a qualifying child. You may be eligible for up to $6,242.
Use the 2015 EITC Assistant tool on IRS.gov to find out if you qualify. If you do, file a tax return to claim it.
5. Additional Child Tax Credit.
Do you have at least one child that qualifies for the Child Tax Credit?
If you don’t get the full credit amount, you may qualify for the Additional Child Tax Credit.
6. American Opportunity Tax Credit.
The AOTC is available for four years of post secondary education and can be up to $2,500 per eligible student.
You, your spouse or your dependent must have been a student enrolled at least half time for at least one academic period.
Even if you don’t owe any taxes, you still may qualify.
You must complete Form 8863, Education Credits, and file it with your return to claim the credit.
Confused? Call us today and have former IRS agents and managers will prepare any back tax return and assure that you will pay the lowest amount allowed by law.
