by steve | Feb 28, 2012 | Installment Agreements, IRS Payment Plans
Make payments to the IRS – Get a payment plan – IRS Tax Experts – South Florida – Miami, Ft. Lauderdale, Palm Beaches 954-492-0088
Make Payments to the Internal Revenue Service – Call us today and get started!
If you are looking for a IRS installment agreement, payment agreement, or payment plan it is very possible within the next hour you can be set up on the IRS system for making payments.
We are former local South Florida IRS Agents who know the system. We have over 60 years in the local South Florida IRS offices.
IRS Tax Options for Making Payments to the IRS.
The IRS offers different tax options to make payments and the IRS has been getting user friendly over the past couple years making installment agreements, payment agreements easier to obtain without giving your life away.
The Payment Program depends on the dollar amount you owe and the type of tax owed to the IRS.
If you owe payroll taxes, you will not qualify for these program. We will have to make special arrangements with the IRS. Payroll payments ,941, are much more complicated and detailed.
There are different types of installment agreements that a taxpayer can qualify for in making payments to the IRS.
To qualify for making payments to the IRS you must;
- File all required tax returns;
- Consider other sources (loan or credit card) to pay your tax debt in full to save money; ( IRS will asked if you have tried and might ask for the loan denial letter.
- Determine the largest monthly payment you can make ($25 minimum); and
- Know that your future refunds will be applied to your tax debt until it is paid in full.
- IRS will also make sure you have the proper amount of withholding is being taken out or make sure you are making ES payments if you are self employed.
To avoid the fee for setting up an installment agreement please keep the following in mind;
Pay the full amount you owe within 120 days to avoid the fee.
You should apply online to specify this option (or call if you owe more than $50,000). If you cannot pay the full amount within 120 days, the fee for setting up an agreement is:
- $52 for a direct debit agreement;
- $105 for a standard agreement or payroll deduction agreement; or
- $43 if your income is below a certain level.
Apply for an installment agreement
Call us today and we will review the entire process with you and also consider the filing of an offer in compromise and possibly the abatement of penalties and interest.
Make payments to the IRS – Get a payment plan – IRS Tax Experts – South Florida – Miami, Ft. Lauderdale, Palm Beaches
by steve | Feb 28, 2012 | IRS Tax Debt
Settle your Back Taxes with The Offer in Compromise Program 954-492-0088, FORMER AGENT, I TAUGHT THIS PROGRAM AT IRS, HEAR THE TRUTH!
I taught the offer in compromise program as a Former IRS agent. I worked out of the local South Florida IRS field offices. FREE CONSULTATIONS
- IRS accepts 20% of all Offers in Compromise filed.
- IRS received 55,000 offers in compromise last year.
- 90% of those accepted offers come from tax professional who know the system.
The Offer in Compromise is a IRS Tax Program that have lead many to thinking I can settle my taxes for ” pennies on a dollar.” While the statement is true many taxpayers are disappointed when IRS sends out a rejection letter.
Just for the record, as a Former IRS Agent who worked offers in compromise, IRS does everything they can to reject offers in compromise.
The Offer in Compromise requires a great deal of skill and knowledge. The Offer on Compromise is worked much like a IRS tax audit. IRS spends no less than 20 hours working the Offer.
IRS has specialists work the Offer in Compromise Program. These specialist are the highest level of IRS personnel training in financial review and analysis.
As a former IRS Agent I have worked hundreds of Offer in Compromise. Sadly, most taxpayer have no clue what they are getting into.
A word to the wise, never submit an offer in compromise without having a full evaluation to see whether you qualify for the program.
By submitting the offer in compromise you are giving the IRS a financial road map to your life and it can become a valuable collection tool if your offer in compromise goes south.
A 433-OIC is required to complete the evaluation.
The basic rules for Offers in Compromise, you must give IRS all your equity in all your assets. IRS will also complete an income analysis to determine monthly payments.
Offer in Compromise – Payment Options
Your initial payment will vary based on your offer and the payment option you choose:
- Submit an initial payment of 20 percent of the total offer amount with your application. Then you can wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.
- You can submit your initial payment with your application.You can then continue to pay the remaining balance in monthly installments while the IRS considers your offer. If accepted, continue to pay monthly until it is paid in full.
If you meet the Low Income Certification guidelines, you do not have to send the application fee or the initial payment and you will not need to make monthly installments during the evaluation of your offer. See your application package for details.
Understand the Offer in Compromise Program and the Process
While your offer in compromise is being evaluated by the IRS;
- Your non-refundable payments and fees will be applied to the tax liability (you may designate payments to a specific tax year and tax debt);
- A Notice of Federal Tax Lien may be filed;
- Other collection activities are suspended;
- The legal assessment and collection period is extended;
- Make all required payments associated with your offer;
- You are not required to make payments on an existing installment agreement; and
- Your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.
Call us today for a free tax evaluation.
Miami, Ft.Lauderdale, Palm Beach, South Florida – IRS Tax Experts
by steve | Feb 27, 2012 | Back Taxes
File Back Tax Returns – Does the IRS Owe you Money South Florida – Miami, Ft. Lauderdale, Palm Beaches – Fresh Start Tax LLC
Make sure you file your back tax returns.
If you have not filed your back tax returns contact us today.
We are comprised of former IRS agents and managers who have over 60 years of direct working experience in the local South Florida Internal Revenue Service office.
We can file all your back returns and work out a tax settlement. Many people who do not file their back tax returns lose out on hundreds or thousands of dollars of tax refunds.
Did you lose out on a tax refund?
Over 70,000 taxpayers in the South Florida area are giving their money back to the IRS. Don’t that make you sick.
The statute of limitations is ticking. Over 70,500 South Floridians did not file their 2008 tax return and as April 17th rolls around the tax refunds are lost for good.
So, if you forgot to file your tax return in 2008 call us today and get your money back from the IRS plus interest.
I have seen hundreds of clients and former clients miss out on tax refunds for a variety of reasons. Many thought they were going to owe the IRS and were afraid to file their tax returns.
What is shocking, the average refund going back to South Floridians is approximately $700. Some losing out on thousands of dollars. In one case of a walk in client lost, $8750. Boy did that hurt.
That is a whooping $67 million dollars that goes back to the IRS because South Floridians forgot to file their tax returns.
Some Floridians may also have qualified for the 2008 Earned Income Tax Credit (EITC) for low- and moderate-income families. Taxpayers can file the form and still get the tax credit.
Call us today to get your refund before you lose out.
by steve | Feb 27, 2012 | Income Tax Preparation, IRS Tax Advice
Fresh Start Tax LLC wants to keep all of our clients aware of different tax credits offered by the IRS. Here are some valuable tax tips regarding Education Credits.
Education Tax Credits can help pay higher education costs
Two Federal Tax Credits are available.
This may help you offset the costs of higher education for yourself or your dependents.
These are the American Opportunity Credit and the Lifetime Learning Credits.
To qualify for either tax credit, you must pay post secondary tuition and fees for yourself, your spouse or your dependent.
The tax credit may be claimed by either the parent or the student, but not both. If the student was claimed as a dependent, the student cannot file for the credit.
For each student, you may claim only one of the credits in a single tax year. You cannot claim the American Opportunity Credit to pay for part of your daughter’s tuition charges and then claim the Lifetime Learning Credit for $2,000 more of her school costs.
If you pay college expenses for two or more students in the same year, you can choose to take credits on a per-student, per-year basis.
You may claim the American Opportunity Credit, AOC, for your sophomore daughter and the Lifetime Learning Credit for your spouse’s graduate school tuition.
Here are some facts the IRS and Fresh Start Tax LLC wants you to know about these valuable education credits:
1. The American Opportunity Credit
a. The credit can be up to $2,500 per eligible student.
b. It is available for the first four years of post secondary education.
c. Forty percent of the credit is refundable, which means that you may be able to receive up to $1,000, even if you owe no taxes.
d. The student must be pursuing an undergraduate degree or other recognized educational credential.
e.The student must be enrolled at least half time for at least one academic period.
f. Qualified expenses include tuition and fees, coursed related books supplies and equipment.
The full credit is generally available to eligible taxpayers whose modified adjusted gross income is less than $80,000 or $160,000 for married couples filing a joint return.
2. Lifetime Learning Credit
a. The credit can be up to $2,000 per eligible student.
b. It is available for all years of post secondary education and for courses to acquire or improve job skills.
c. The maximum credited is limited to the amount of tax you must pay on your return.
d. The student does not need to be pursuing a degree or other recognized education credential.
e. Qualified expenses include tuition and fees, course related books, supplies and equipment.
f. The full credit is generally available to eligible taxpayers whose modified adjusted gross income is less than $60,000 or $120,000 for married couples filing a joint return.
g. If you don’t qualify for these education credits, you may qualify for the tuition and fees deduction, which can reduce the amount of your income subject to tax by up to $4,000. However, you cannot claim the tuition and fees tax deduction in the same year that you claim the American Opportunity Tax Credit or the Lifetime Learning Credit.
You must choose to either take the credit or the deduction and should consider which is more beneficial for you.
For professional tax help and to audit proof your tax return call Fresh Start Tax LLC today.
by steve | Feb 27, 2012 | Income Tax Preparation
There are different ways to find Free Tax Help to prepare your income tax return.
First go to the The IRS.
The IRS offers free assistance by computer, telephone and in person.
The easiest and fastest way to get free tax help is through the IRS website – www.irs.gov.
The Internal Revenue Service also can also help find free tax preparation sites for those who qualify.
Here are some easy ways to get the help you need to file your tax return.
1. IRS website .
The IRS website at www.irs.gov is a one-stop shop for a wide array of tax information. You can even prepare and file your federal tax return for free through Free File, a service offered by IRS and its partners who offer free tax preparation software and free electronic filing.
But you must go through www.irs.gov to use Free File.
Do you have some tax questions?
Check out 1040 Central on the individuals page for the latest news.
You can even check the status of your refund with Where’s My Refund?
2. Community resources.
Free income tax preparation is available through the Volunteer Income Tax Assistance and Tax Counseling for the Elderly programs in many communities.
Volunteer tax return preparation programs are provided through partnerships between the IRS and community based organizations.
They offer free help in preparing simple tax returns for low-to-moderate-income taxpayers. To find a site near you, visit www.irs.gov, or call 800-906-9887. Qualified taxpayers (age 60 or older) can also find help at a local TCE site by visiting www.aarp.org or calling 888-227-7669.
3. Telephone Call.
The IRS Tax Help Line for Individuals, 800-829-1040, to get answers to your federal tax questions, To hear pre-recorded messages covering various tax topics or to check the status of your refund, call 800-829-4477.Prepare yourself for a long wait. If it is free you will wait.
4. Taxpayer Assistance Centers.
When you believe your tax issue cannot be handled online or by phone and you want face-to-face assistance, you can find help at a local IRS Taxpayer Assistance Center. Locations, business hours and an overview of services are available at www.irs.gov.
Just go to the Individuals tab and click on the Contact My Local Office link on the left under IRS Resources.
Remember, it is always best to hire a professional tax preparer. You will know you are going to pay the lowest amount of tax allowed by law because tax professional know all the tax loopholes.
