by Jim Magary | Dec 18, 2015 | Tax Help
We are AFFORDABLE former IRS agents and managers who know the system. How to Get Best Results, Since 1982 YOU HAVE OPTIONS TO PAY BACK TAXES
You should know that we are former IRS agents and managers over 65 years of direct work experience in the local, district, and regional the IRS. We are specialized tax experts for IRS problems including options on paying back taxes.
We have worked thousands of cases throughout the years, since 1982.
There are three available options and every taxpayer should know:
1. Hardship Status,
2.Payment Agreements,
3.Offer in Compromise
There are some things you MUST to know.
IRS will require a financial statement on form 433F.
You can find that directly on her website.
These financial statements will need to be completely documented with bank statements, pay stubs, and proof of all monthly expenses.
Determinations are made by IRS after a careful review of your current financial statement. IRS a systematic on all cases in the way they work those who owe back taxes. The formulas in the standards are same all over the country and there is no favoritism.
IRS has a national standard test they used for your expenses . Understanding the national standard test is the key to settling any case with Internal Revenue Service.
Payment Plan Option
There are a variety of payment plan options with the Internal Revenue Service.
Many of those options are determined by how much you owe the Internal Revenue Service.
If you over $50,000 in back tax debt the standard is much higher. If you owe under $50,000 those cases are much easier. The more you owe, the more documentation you will need to support your claims.
Keep in mind if you want a payment plan with the Internal Revenue Service all tax returns to be filed. When you call our office will review some basic questions with you and find out if you are a payment plan candidate to pay her back taxes.
IRS will stick to strict standards before they will make a payment plan and these are called the national and regional standards tests.
You need to be able to make sure you can make the monthly payment. If you fail to meet a monthly payment IRS has the option to levy your wages or your bank account. As soon as you failed to make your first payment IRS will send out CP notice 523.
Do not be forced or have your arm twisted in making a payment plan just to satisfy your obligation.
Hardship, Currently Not Collectable
40% of all taxpayers who owe back taxes are placed into a non-collectible file or hardship file. This is only temporary relief because even though your case is put into a freeze program. penalties and interest continue to run and IRS will re-visit your case in 2 to 3 years.
Many taxpayers however cannot pay their back taxes at this time because they are being stretched and the hardship program is perfectly suited for them.
It is best to have a short-term goal and a long-term plan to remedy your problem with the Internal Revenue Service.
Offer in Compromise
Other taxpayers who make a payment plan may be eligible to settle their debt through the offer in compromise program with the Internal Revenue Service.
The offer in compromise programs allow taxpayers to settle their debt for pennies on the dollar.
I urge any taxpayer who contemplates the filing of an offer in compromise to settle there back tax debt for pennies on the dollar walk through the IRS pre-qualifier tool to make sure they are right qualified candidate for the program before spending any money.
IRS spends quite a lot of time analyzing an offer in compromise. Being a former IRS agent in teaching instructor of the offer in compromise the odds of a taxpayer getting their own offer through our slim to none.
It takes a great deal of time and skill to get your offer accepted because any offer that is accepted is a matter of public record in the regional offices for up to one year.
When you call our office you will carefully review your case to find out if we can settle your debt for pennies on the dollar.
If you have any questions call us today and we will walk you through the different programming available with the Internal Revenue Service.
We are a full-service firm that has been practicing since 1982 and are A+ rated by the Better Business Bureau.
File All Tax Returns ASAP
It important note is that all tax returns must be filed with the Internal Revenue Service if you are contemplating entered into a monthly installment payment because every time IRS works in case they will want to make sure you are in compliance with all the federal filing rules.
We can prepare all back tax returns with or without records.
Options To Pay Back IRS Taxes + Hear the Truth + Former IRS Explain
by Jim Magary | Dec 18, 2015 | Tax Help
Didn’t File Taxes ? Get Back in the System Worry Free + We are affordable former IRS agents and managers who know the system. Since 1982.
16 million taxpayers do not file annual tax returns and if you don’t file prior year’s tax returns at some point in time, IRS will contact you by mail or a knock on the door.
As a former IRS agent rest assure IRS will catch up to all non-filers. Each year they get to his many as they can, and with new computerized tracking systems they’re catching up to non-filers at a much faster pace.
We can file all late tax years tax returns and get you back in the system. If you are will owe tax, we will work out tax settlement as well. As you read below in some cases we only may prepare three tax years to get you back in the system.
Call us today for free initial tax consultation and find out the exact process.
IRS Representation
You not have to worry, as former IRS agents we can file a power of attorney and work out all the arrangements so you can be worry free. we simply contact the IRS get tax transcripts and start the process of giving you back in the system were referring.
If you have lost your tax records there is no need to worry.
As former IRS agents we are affordable tax experts for the reconstruction of late or back tax returns.
We know the ways and the systems of the IRS and know how to compute income tax or corporate tax returns in which records have been lost misplaced or destroyed.
Lost Tax Records are no problem for us.
There is a very definitive process to prepare tax returns with lost records and we understand and have personal knowledge on how that system works.
You can call us today for a free initial tax consultation and see just how this process works. we’re affordable professional firm that can get you back into the system worry free.
As former IRS agents and managers we know the exact way to make this a seamless and easy process for you.
With or without tax records we can file your back tax returns, if you’re going to owe back taxes we can work out a tax settlement for you so there are no excuses for you not to pick up the phone call us and get this problem taken care of once and for all.
We have over 206 years of professional tax experience, over 65 years of working directly for Internal Revenue Service and have been in private practice since 1982.
How many Back or Past Due Tax Returns on prior years ?
You’ll hear advice from all sorts of tax professionals on the issue of “how far back should I file my on file for back tax years.”
The good news is, as a general rule you do not have to go back that far.
IRS has a policy statement regarding delinquent tax returns.
1.2.14.1.18 (08-04-2006)
Policy Statement 5-133
1. Delinquent or prior years tax returns—enforcement of filing requirements
2. Taxpayers failing to file tax returns will be requested to prepare and file all such returns except in instances where there is an indication that the taxpayer’s failure to file the required return or returns was willful or if there is any other indication of fraud.
All delinquent returns submitted by a taxpayer, whether upon his/her own initiative or at the request of a Service representative, will be accepted.
However, if indications of wilfulness or fraud exist, the special procedures for handling such returns must be followed.
3. Where it is determined that required returns have not been filed, the extent to which compliance for prior years will be enforced will be determined by reference to factors ensuring compliance and evenhanded administration of staffing and other Service resources.
4. Factors to be taken into account include, but are not limited to:
a. prior history of noncompliance,
b. existence of income from illegal sources, effect upon voluntary compliance, anticipated revenue, and collectibility, in relation to the time and effort required to determine tax due.
Consideration will also be given any special circumstances existing in the case of a particular taxpayer, class of taxpayer, or industry, or which may be peculiar to the class of tax involved.
5. Normally, application of the above criteria will result in enforcement of delinquency procedures for not more than six (6) years. there are special cases in which the IRS will ask for more than six years. Those cases generally involve those with a great deal of access with a high potential of collection and probability. There are very few cases that meet this criteria.
Many times we file only 3 back years. Each case is different and depending on various factors you will make determinations on the number of back years we will file.
Enforcement beyond such period will not be undertaken without prior managerial approval.
Also, if delinquency procedures are not to be enforced for the full six-year period of delinquency, prior managerial approval must be secured.
Managers are reluctant to require more back tax returns unless there is an obvious ability to pay the back tax.
The bad news is many taxpayers who had withholding taken out have lost a refund checks. You can file and claim refunds however for the last three years.
Also if you not filed your W-2s and tax returns you can lose valuable Social Security credit.
What happens if you have lost or misplaced your prior years tax records?
If you have back tax returns to prepare, IRS has income transcripts available to prepare your tax returns.
The IRS keeps all back W-2s and 1099’s on record for the past seven years. Simply by ordering an IRS tax transcript we can determine all the reportable income IRS has on your record.
Therefore delinquent tax filing or Late or Previous Years are no problem.
Generally income tax reconstruction records are put together by looking at various factors:
1. financial statement,
2. expense analysis,
3. bank statements,
4. credit card statements,
5. IRS records,
6. various other factors to back into income, and,
As former IRS agents we have learned to prepare tax returns under reconstructive methods.
Why does IRS only require back 6 years on back tax returns?
The answer is very simple, manpower. By next year, the entire IRS workforce will be cut down by one-third due to attrition and budget cuts.
That does not mean IRS is not going to find you. At some point in time you will get that nasty gram in the mail.
As a general rule, the only time IRS will go past six years is if a person has significant assets or can pay all the back years. In those types of cases IRS may ask you to file all your tax returns.
But as a general rule, there are so many outstanding cases, so much money to be collected and so many back tax returns that have to be filed, the IRS has put boundaries on past-due tax years is six.
What Happens if you Owe Back Taxes = Not to Worry + Tax Settlements
Do not be afraid if you owe back taxes.
The Internal Revenue Service will simply take a financial statement on form 433F or 433A and make a determination how they will want the back taxes paid.
As a general rule, after IRS reviews your financial statement they will either place your case into a currently not collectible status if your expenses exceed your income, ask you to make a monthly installment payment after they apply the national standards or they may suggest that you consider an offer in compromise to settle your case.
I am I going to Jail? Very Doubtful
The general rule of thumb is to contact IRS before IRS knocks on the door.
Once you have come forth on a voluntary basis it is extremely doubtful that IRS will ever go after any taxpayer criminally unless there is fraud involved.
Remember the IRS wants voluntary compliance and our tax system is based on that principle.
Unless unique situations exist do not be stuck in criminal fear. In the entire United States, and abroad, the IRS as a general rule convicts a total of 3300 taxpayers for a variety of criminal charges per year.
Call us today for a free tax consult.
We have been in private practice since 1982 and all cases are handled with affordable expert care by true tax professionals.
I Didn’t File My Taxes + What are the Consequences + Former IRS Can Help
by Jim Magary | Dec 18, 2015 | Tax Help
We are AFFORDABLE former IRS agents and managers who know the system. How to Get the Best Results, Since 1982
It is important to know how IRS works cases before you make any conclusion on how to resolve an IRS back tax debt. You have a variety of options.
Being informed will get you the very best results.
We must know the facts of your case and then can let you know the best way to make the minimum payment to you can get back on your feet.
Keep in mind an IRS tax settlement called an offer in compromise should be in play before any decisions are made. last year over 78,000 people file for an offer in compromise and 38,000 Offers were accepted for an average settlement of $6500. The results vary from taxpayer taxpayer and all depends on your current financial statement.
IRS Payment Program
Over 6.5 million taxpayers enter into IRS installment or monthly payment plans.
If you want to enter into a IRS payment plan or installment plan with the Internal Revenue Service call us today and we will review with you your options. And yes, you do have options.
You should know that we are former IRS agents and managers over 65 years of direct work experience in the local, district, and regional the IRS.
We are specialized tax experts for IRS problems including options on paying back taxes and how to make minimum payments. We specialize in both individual, business and corporate tax solutions.
Before any determinations are made to enter into IRS monthly installment payment plans taxpayer should know all the facts.
We will review with you an installment payment program, and non-collectible status, or the offer in compromise. Sometimes taxpayers think that making minimum payments is the best way to and their IRS problem however being informed may bring taxpayers to other conclusions they never thought about.
There are three available options and every taxpayer should know the difference before making any signed agreement with IRS. certainly making payment plans or installment plans are one of the three available options.
Payment plans or installment plans with the Internal Revenue Service can be very simple or they can be very complicated. A lot of factors come into play.
The dollar amount that you owe usually dictates what type of payment plan that you will enter into Internal Revenue Service. There are various forms of IRS payment plans.
Before you contemplate contacting the IRS regarding a payment plan, I would highly encourage you to contact a professional tax firm first.
If you will owe less than $10,000, there’s nothing wrong with you contacting IRS yourself and working out a tax resolution regarding a payment plan. If you will owe more than $10,000 in back tax debt it starts to get a little more complicated and making call to a tax professional could be in your best interest.
The more you owe, the more complicated the payment agreement gets. if you will more than $50,000 it is wise to get a professional consultation because your case is at the height of complicated. What I mean by complicated is simply this, IRS conducts more due diligence on taxpayers that owed the greatest amount of money on back taxes.
Some IRS payment plans will require a financial statement on form 433F. You can find that directly on our website.
These financial statements will need to be completely documented with bank statements, pay stubs, and proof of all monthly expenses.
IRS will stick to strict standards before they will make a payment plan and these are called the national and regional standards tests.
You need to be able to make sure you can make the monthly payment. if you fail to meet a monthly payment IRS has the option to levy your wages or your bank account. As soon as you failed to make your first payment IRS will send out CP notice 523.
Do not be forced or have your arm twisted in making a payment plan just to satisfy your obligation.
40% of all taxpayers who owe back taxes are placed into a non-collectible file or hardship file. This is only temporary relief because even though your case is put into a freeze program. penalties and interest continue to run and IRS will re-visit your case in 2 to 3 years.
Many taxpayers however cannot pay their back taxes at this time because they are being stretched and the hardship program is perfectly suited for them.
It is best to have a short-term goal and a long-term plan to remedy your problem with the Internal Revenue Service.
Offer in Compromise
Still other taxpayers who make a payment plan may be eligible to settle their debt through the offer in compromise program with the Internal Revenue Service. The offer in compromise programs allow taxpayers to settle their debt for pennies on the dollar.
I urge any taxpayer who contemplates the filing of an offer in compromise to settle there back tax debt for pennies on the dollar walk through the IRS pre-qualifier tool to make sure they are right qualified candidate for the program before spending any money.
If you have any questions call us today and we will walk you through the different programming available with the Internal Revenue Service.
We are a full-service firm that has been practicing since 1982 and are A+ rated by the Better Business Bureau.
Tax Returns Info
It important note is that all tax returns must be filed with the Internal Revenue Service if you are contemplating entered into a monthly installment payment because every time IRS works in case they will want to make sure you are in compliance with all the federal filing rules.
We can prepare all back tax returns with or without records.
Call us today and learn more about all IRS monthly payment programming available.
Remember it is wise to check if you can settle your tax debt for pennies on the dollar through the offer in compromise program.
As a last bit of a note, I was a former IRS offer in compromise specialist as a former IRS agent.
Can’t Pay Taxes + Get A Payment Plan + Former IRS Explain How
by Jim Magary | Dec 18, 2015 | Tax Help
We are AFFORDABLE former IRS agents and managers who know the system. How to Get to Get Best Results, Since 1982
It is important to know how IRS works cases before you make any conclusion on how to resolve an IRS back tax debt. Being informed will get you the very best results. depending on your case and its circumstance will determine how to make minimum payments to Internal Revenue Service.
We must know the facts of your case and then can let you know the best way to make the minimum payment to you can get back on your feet. Keep in mind an IRS tax settlement called an offer in compromise should be in play before any decisions are made.
Over 6.5 million taxpayers enter into IRS installment or monthly payment plans.
If you want to enter into a IRS payment plan or installment plan with the Internal Revenue Service call us today and we will review with you your options. And yes, you do have options.
You should know that we are former IRS agents and managers over 65 years of direct work experience in the local, district, and regional the IRS. We are specialized tax experts for IRS problems including options on paying back taxes and how to make minimum payments.
Before any determinations are made to enter into IRS monthly installment payment plans taxpayer should know all the facts. We have worked thousands of cases throughout the years, since 1982.
We will review with you an installment payment program, and non-collectible status, or the offer in compromise. Sometimes taxpayers think that making minimum payments is the best way to and their IRS problem however being informed may bring taxpayers to other conclusions they never thought about.
There are three available options and every taxpayer should know the difference before making any signed agreement with IRS. certainly making payment plans or installment plans are one of the three available options.
There are some things you MUST to know.
Payment plans or installment plans with the Internal Revenue Service can be very simple or they can be very complicated. A lot of factors come into play.
The dollar amount that you owe usually dictates what type of payment plan that you will enter into Internal Revenue Service. There are various forms of IRS payment plans.
Before you contemplate contacting the IRS regarding a payment plan, I would highly encourage you to contact a professional tax firm first.
If you will owe less than $10,000, there’s nothing wrong with you contacting IRS yourself and working out a tax resolution regarding a payment plan. If you will owe more than $10,000 in back tax debt it starts to get a little more complicated and making call to a tax professional could be in your best interest.
The more you owe, the more complicated the payment agreement gets. if you will more than $50,000 it is wise to get a professional consultation because your case is at the height of complicated. What I mean by complicated is simply this, IRS conducts more due diligence on taxpayers that owed the greatest amount of money on back taxes.
Some IRS payment plans will require a financial statement on form 433F. You can find that directly on our website. These financial statements will need to be completely documented with bank statements, pay stubs, and proof of all monthly expenses.
IRS will stick to strict standards before they will make a payment plan and these are called the national and regional standards tests.
You need to be able to make sure you can make the monthly payment. if you fail to meet a monthly payment IRS has the option to levy your wages or your bank account. As soon as you failed to make your first payment IRS will send out CP notice 523.
Do not be forced or have your arm twisted in making a payment plan just to satisfy your obligation.
40% of all taxpayers who owe back taxes are placed into a non-collectible file or hardship file. This is only temporary relief because even though your case is put into a freeze program. penalties and interest continue to run and IRS will re-visit your case in 2 to 3 years.
Many taxpayers however cannot pay their back taxes at this time because they are being stretched and the hardship program is perfectly suited for them.
It is best to have a short-term goal and a long-term plan to remedy your problem with the Internal Revenue Service.
Still other taxpayers who make a payment plan may be eligible to settle their debt through the offer in compromise program with the Internal Revenue Service. The offer in compromise programs allow taxpayers to settle their debt for pennies on the dollar.
I urge any taxpayer who contemplates the filing of an offer in compromise to settle there back tax debt for pennies on the dollar walk through the IRS pre-qualifier tool to make sure they are right qualified candidate for the program before spending any money.
If you have any questions call us today and we will walk you through the different programming available with the Internal Revenue Service.
We are a full-service firm that has been practicing since 1982 and are A+ rated by the Better Business Bureau.
It important note is that all tax returns must be filed with the Internal Revenue Service if you are contemplating entered into a monthly installment payment because every time IRS works in case they will want to make sure you are in compliance with all the federal filing rules.
We can prepare all back tax returns with or without records.
Call us today and learn more about all IRS monthly payment programming available. Remember it is wise to check if you can settle your tax debt for pennies on the dollar through the offer in compromise program. As a last bit of a note, I was a former IRS offer in compromise specialist as a former IRS agent.
How to Make Minimum Payments to IRS on Back Taxes Debt = Former IRS, Since 1982
by Jim Magary | Dec 18, 2015 | Tax Help
We are AFFORDABLE former IRS agents and managers who know the system and can help you get an IRS monthly payment.
Over 6.5 million taxpayers enter into IRS installment or monthly payment plans.
If you want to enter into a IRS payment plan or installment plan with the Internal Revenue Service call us today and we will review with you your options.
You should know that we are former IRS agents and managers over 65 years of direct work experience in the local, district, and regional the IRS. We are specialized tax experts for IRS problems.
Before any determinations are made to enter into IRS monthly installment payment plans taxpayer should know all the facts.
We have worked thousands of cases throughout the years, since 1982.
We will review with you an installment payment program, and non-collectible status, or the offer in compromise.
There are three available options and every taxpayer should know the difference before making any signed agreement with IRS. certainly making payment plans or installment plans are one of the three available options.
There are some things you MUST to know.
Payment plans or installment plans with the Internal Revenue Service can be very simple or they can be very complicated. a lot of factors come into play.
The dollar amount that you owe usually dictates what type of payment plan that you will enter into Internal Revenue Service. There are various forms of IRS payment plans.
Before you contemplate contacting the IRS regarding a payment plan, I would highly encourage you to contact a professional tax firm first.
If you will owe less than $10,000, there’s nothing wrong with you contacting IRS yourself and working out a tax resolution regarding a payment plan. If you will owe more than $10,000 in back tax debt it starts to get a little more complicated and making call to a tax professional could be in your best interest.
The more you owe, the more complicated the payment agreement gets.
Some IRS payment plans will require a financial statement on form 433F. You can find that directly on our website. These financial statements will need to be completely documented with bank statements, pay stubs, and proof of all monthly expenses.
IRS will stick to strict standards before they will make a payment plan and these are called the national and regional standards tests.
You need to be able to make sure you can make the monthly payment. if you fail to meet a monthly payment IRS has the option to levy your wages or your bank account. As soon as you failed to make your first payment IRS will send out CP notice 523.
Do not be forced or have your arm twisted in making a payment plan just to satisfy your obligation.
40% of all taxpayers who owe back taxes are placed into a non-collectible file or hardship file. This is only temporary relief because even though your case is put into a freeze program. penalties and interest continue to run and IRS will re-visit your case in 2 to 3 years.
Many taxpayers however cannot pay their back taxes at this time because they are being stretched and the hardship program is perfectly suited for them.
It is best to have a short-term goal and a long-term plan to remedy your problem with the Internal Revenue Service.
Still other taxpayers who make a payment plan may be eligible to settle their debt through the offer in compromise program with the Internal Revenue Service. The offer in compromise programs allow taxpayers to settle their debt for pennies on the dollar.
I urge any taxpayer who contemplates the filing of an offer in compromise to settle there back tax debt for pennies on the dollar walk through the IRS pre-qualifier tool to make sure they are right qualified candidate for the program before spending any money.
If you have any questions call us today and we will walk you through the different programming available with the Internal Revenue Service.
We are a full-service firm that has been practicing since 1982 and are A+ rated by the Better Business Bureau.
It important note is that all tax returns must be filed with the Internal Revenue Service if you are contemplating entered into a monthly installment payment because every time IRS works in case they will want to make sure you are in compliance with all the federal filing rules.
We can prepare all back tax returns with or without records.
How can you make monthly payments the IRS?
Call us today and learn more about all IRS monthly payment programming available. Remember it is wise to check if you can settle your tax debt for pennies on the dollar through the offer in compromise program.
Need IRS Monthly Installment Plan + What You Need to Know + Former IRS
