by steve | Aug 3, 2011 | IRS Tax Advice
Fresh Start Tax L.L.C. A Professional Tax Firm Since 1982 “A” Rated by the Better Business Bureau
If you are in need of professional tax help to resolve your IRS trust fund liability call us today. We were former IRS Agents, Managers and Instructors that use to set up trust fund tax liabilities against responsible parties.
We know all the tax defenses to help assist you in these tax matters.
IRS has different Statute of Limitations depending on the tax and the tax issues. Normally, IRS collection statute of limitations on the collection owed runs 10 years from the date of the assessment.
However the assessment of Trust Fund Penalty has a completely different statute. You may be surprised by the number of times IRS does not follow up to set these Trust Fund Assessments cases. The amount cases that goes unassessed is staggering. I was told by a IRS Insider that only 10% of all Trust Fund Taxes are set up against responsible officers.
The IRS Trust Fund Recovery Penalty Statute of Limitations:
The IRS time frame for assessment of the trust fund recovery penalty against you is based on the filing date of your company’s 941 employment tax return
The IRS has three years from the filing date of the employment tax returns to come to you with the trust fund penalty. The term “filing date” is important here, it is defined by Internal Revenue Code 6501(b)(2), which states that employment tax returns filed for any period ending within a calendar year are considered filed on April 15 of the succeeding year.
Call us to fight this penalty.
by steve | Aug 3, 2011 | Tax News
The IRS from time to time comes out with a News Wire Press Release that are of beneficial to our client base. Hope this press release may find you with a happy return.
Does the IRS Have Money Waiting For You?
If you earned income in the last few years but you didn’t file a tax return because your wages were below the filing requirement, the Internal Revenue Service may have some money for you. The IRS also has millions of dollars in checks that are returned each year as undeliverable.
Here’s what you need to know about these two types of “missing money” and how to claim it:
Unclaimed Refunds
Some people earn income and may have taxes withheld from their wages but are not required to file a tax return because they have too little income. In this case, you can claim a refund for the tax that was withheld from your pay. Other workers may not have had any tax withheld but would be eligible for the refundable Earned Income Tax Credit, but must file a return to claim it.
To collect this money a return must be filed with the IRS no later than three years from the due date of the return.
If no return is filed to claim the refund within three years, the money becomes the property of the U.S. Treasury.
There is no penalty assessed by the IRS for filing a late return qualifying for a refund.
Current and prior year tax forms and instructions are available on the Forms and Publications page of www.irs.gov or by calling 800-TAX-FORM (800-829-3676).
Information about the Earned Income Tax Credit and how to claim it is also available on www.irs.gov.
Undeliverable Refunds
Were you expecting a refund check but didn’t get it?
Refund checks are mailed to your last known address. Checks are returned to the IRS if you move without notifying the IRS or the U.S. Postal Service.
You may be able to update your address with the IRS on the “Where’s My Refund?” feature available on IRS.gov. You will be prompted to provide an updated address if there is an undeliverable check outstanding within the last 12 months.
You can also ensure the IRS has your correct address by filing Form 8822, Change of Address, which is available on www.irs.gov or can be ordered by calling 800-TAX-FORM (800-829-3676).
If you do not have access to the Internet and think you may be missing a refund, you should first check your records or contact your tax preparer. If your refund information appears correct, call the IRS toll-free assistance line at 800-829-1040 to check the status of your refund and confirm your address.
by steve | Aug 3, 2011 | IRS Tax Advice, Tax News
We know the system, over 60 years with the IRS. Affordable.
Fresh Start Tax L.L.C. Since 1982 IRS Tax Experts A Professional Tax Firm “A” Plus Rated by the Better Business Bureau
Call us to hear all your tax options about IRS Debt Reduction.
We will tell you the truth about tax settlements and give you other tax options that you are probably not even aware of.
Former IRS Agents, Managers and Instructors who over 60 years of direct IRS experience in the local, district and regional offices of the IRS will explain the 3 different tax settlement programs.
We know all the tax strategies and settlement provisions because we taught them at the IRS.
We are staffed with Board Certified Tax Attorneys, CPA’s and Former IRS Agents with over 205 years of professional tax experience.
Areas of Tax Practice:
- Immediate IRS Tax Representation
- Offers in Compromise/ IRS Tax Debt Settlement
- Immediate Release of Bank Garnishments or Wage Levies
- IRS Bill/Notice of “Intent to Levy” or Final Notices
- IRS Tax Audits Small and Large Dollar
- Hardships Cases / Unable to Pay
- Payment Plans, Installment Agreements
- Innocent Spouse Relief
- Abatement of Penalties and Interest
- State Sales Tax Cases
- Payroll/ Trust Fund Penalty Cases
Our Company Resume: ( Since 1982 )
- Our staff has over 205 years of professional IRS tax representation experience collectively
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- Former IRS Managers, Instructors and Trainers
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed to practice in all 50 States
- Certified by the Internal Revenue Service
- Nationally Recognized Veteran Former IRS Agent
- Nationally Recognized Published Tax Expert
- As heard on 90.3 FM Monthly Radio Show-Business Weekly
IRS DEBT REDUCTION – How we settle and negotiate your case with the Internal Revenue Service:
1. We immediately send a power of attorney to the IRS letting them know we are now your representative. You will never have to speak to them.
2. We will make sure all your tax returns are filed and current. If your tax returns are not up to date, the IRS will refuse to work your case. This is leverage that they use to get you compliant. We can pull tax transcripts, file and prepare your tax returns within days, even if you have lost your tax records.
3. The IRS requires a current financial statement. We will secure a required 433-A (IRS financial statement), verify the income and expenses and work out a settlement agreement. The IRS will require a closing settlement method for each case.
4. We review with our clients how they want to settle their case. We get them an agreement based on their current financial needs.
Settlement agreements can be in different forms:
a. Hardship Settlements. Cases usually go into a 3 year suspended status because of an inability to pay. This is also called currently noncollectable. Your case will go into a hardship status because you do not have the income coming in to meet your current expenses. The IRS will use the National Standards Program to assess hardship.
b. Payment Agreements. Cases can be closed with agreed upon monthly installment payments to the IRS. We will review the different programs the IRS uses for the lowest possible amount required.
c. Offer in Compromise. There are three types of OICs:
The IRS may accept an Offer in Compromise based on three grounds:
1. Doubt as to Collectibility – Doubt exists that the taxpayer could ever pay the full amount of tax liability owed within the remainder of the statutory period for collection.
2. Doubt as to Liability – A legitimate doubt exists that the assessed tax liability is correct. Possible reasons to submit a doubt as to liability offer include:
(1) the examiner made a mistake interpreting the law,
(2) the examiner failed to consider the taxpayer’s evidence or
(3) the taxpayer has new evidence.
3. Effective Tax Administration / Exceptional Circumstances – There is no doubt that the tax is correct and there is potential to collect the full amount of the tax owed, but an exceptional circumstance exists that would allow the IRS to consider an OIC. To be eligible for compromise on this basis, a taxpayer must demonstrate that the collection of the tax would create an economic hardship or would be unfair and inequitable.
See our home page for more details about Fresh Start Tax L.L.C. Thank You
by steve | Aug 3, 2011 | IRS Tax Advice, Tax News
Fresh Start Tax L.L.C. Since 1982 IRS Tax Experts A Professional Tax Firm “A” Rated by the Better Business Bureau
Hear the truth about settling your case with the IRS. IRS offers 3 definitive ways to negotiate your tax debt and we know every possible tax option available because we taught Tax Law at the IRS. We have saved our clients millions of dollars.
Being Former IRS Agents, Managers and Instructors we have worked thousands of cases since 1973 and know every tax strategy available that will settle your case for the lowest possible dollars allowed by law.
We are staffed with board Certified Tax Attorneys, CPA’s and Former IRS Agents.
Call us today for a no cost consult and hear the complete truth.
Our Company Resume: ( Since 1982 )
- Our staff has over 205 years of professional IRS tax representation experience collectively
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- Former IRS Managers, Instructors and Trainers
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed to practice in all 50 States
- Certified by the Internal Revenue Service
- Nationally Recognized Veteran Former IRS Agent
- Nationally Recognized Published Tax Expert
- As heard on 90.3 FM Monthly Radio Show-Business Weekly
How we settle and negotiate your case with the Internal Revenue Service:
1. We immediately send a power of attorney to the IRS letting them know we are now your representative. You will never have to speak to them.
2. We will make sure all your tax returns are filed and current. If your tax returns are not up to date, the IRS will refuse to work your case. This is leverage that they use to get you compliant. We can pull tax transcripts, file and prepare your tax returns within days, even if you have lost your tax records.
3. The IRS requires a current financial statement. We will secure a required 433-A (IRS financial statement), verify the income and expenses and work out a settlement agreement. The IRS will require a closing settlement method for each case.
4. We review with our clients how they want to settle their case. We get them an agreement based on their current financial needs.
Settlement agreements can be in different forms:
a. Hardship Settlements. Cases usually go into a 3 year suspended status because of an inability to pay. This is also called currently noncollectable. Your case will go into a hardship status because you do not have the income coming in to meet your current expenses. The IRS will use the National Standards Program to assess hardship.
b. Payment Agreements. Cases can be closed with agreed upon monthly installment payments to the IRS. We will review the different programs the IRS uses for the lowest possible amount required.
c. Offer in Compromise. There are three types of OICs:
The IRS may accept an Offer in Compromise based on three grounds:
1. Doubt as to Collectibility – Doubt exists that the taxpayer could ever pay the full amount of tax liability owed within the remainder of the statutory period for collection.
2. Doubt as to Liability – A legitimate doubt exists that the assessed tax liability is correct. Possible reasons to submit a doubt as to liability offer include:
(1) the examiner made a mistake interpreting the law,
(2) the examiner failed to consider the taxpayer’s evidence or
(3) the taxpayer has new evidence.
3. Effective Tax Administration / Exceptional Circumstances – There is no doubt that the tax is correct and there is potential to collect the full amount of the tax owed, but an exceptional circumstance exists that would allow the IRS to consider an OIC. To be eligible for compromise on this basis, a taxpayer must demonstrate that the collection of the tax would create an economic hardship or would be unfair and inequitable.
See our home page for more details about Fresh Start Tax L.L.C. Thank You
by steve | Aug 3, 2011 | IRS Tax Advice
Fresh Start Tax L.L.C. Since 1982 A Professional Tax Firm IRS Tax Experts “A” Rated by the Better Business Bureau
We can stop the IRS with one phone call and you will never speak to the IRS. We taught Tax Law at the IRS.
Hire trust and experience.
We are true IRS Tax Experts. We have on staff former IRS Agents, Managers and Instructors that have over 60 years of direct work experience at the local, district and regional offices of the IRS.
We can get you immediate and permanent tax relief and explain ways to you of settling your IRS Tax Debt. Do not be ripped off by Tax Mills.
We are one of the oldest, most trusted experienced professional tax firms. We have saved millions of dollars for our clients since 1982.
Our Company Resume: ( Since 1982 )
- Our staff has over 205 years of professional IRS tax representation experience collectively
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- Former IRS Managers, Instructors and Trainers
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed to practice in all 50 States
- Certified by the Internal Revenue Service
- Nationally Recognized Veteran Former IRS Agent
- Nationally Recognized Published Tax Expert
- As heard on 90.3 FM Monthly Radio Show-Business Weekly
