by steve | Sep 21, 2011 | IRS Tax Advice
As a general rule one form does usually generate so much traffic to your website but the Tax Form 2645c is the exception to that rule. I was really shocked by the amount of inquiries we get via that one form.
As a result I thought it would be necessary to put it out there to ease the minds of taxpayers receiving this one innocent tax form.
Any time you see a IRS letter in the mail a sort of panic hits the heart and a default of fear comes over the body. Most people know that a check is not inside the envelope because it cannot be seen through the outside window.
Taxpayers hate to open the letter. Taxpayers normally think, oh no, Tax Audit maybe?
However, the IRS Tax Form 2645C is absolutely harmless and the IRS sends out hundreds of thousands of these letters each year.
This is a notice or letter from IRS telling the taxpayer that they have received the correspondence from the taxpayer. Many times the IRS because of their incredibly heavy workload has not had time to work the case and this letter serves to let the taxpayer simply know that their case is stilling being worked by the IRS. As of late with necessary budget cuts the time IRS usually closes cases has now doubled. Cases of being worked at a turtle pace.
So, if you have received this letter or notice, do not panic, IRS just has to much work.
by steve | Sep 21, 2011 | Tax Settlements
Fresh Start Tax LLC Since 1982 Affordable IRS Tax Experts A Professional Tax Firm “A” Rated by the Better Business Bureau
We taught the Offer in Compromise Program at the Internal Revenue Service. 25% of all Offers are accepted by the IRS. We use to accept Offers at the IRS!
We are a tax specialty tax firm that is dedicated to tax debt settlement and IRS tax problems.
We have taught the Offer in Compromise Program at the Internal Revenue Service. We have over 60 years of direct work experience at the IRS in the local, district and regional offices of the IRS.
We are IRS Tax Debt Settlements Experts.
Call us for a free tax consult to make sure your case is a qualified offer case. Do not lose your money to scam companies.
Our Company Resume: ( Since 1982 )
- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- We taught Tax Law in the IRS Regional Training Center
- Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed and certified to practice in all 50 States
- Nationally Recognized Veteran /Published Former IRS Agent
- Nationally Recognized Published EZINE Tax Expert
- As heard on GRACE 90.3 FM Monthly Radio Show-Business Weekly
IRS Tax Debt Settlements – 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 tax representative. You will never have to speak to the IRS.
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.
IRS Tax 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. IRS 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 | Sep 21, 2011 | IRS Tax Problem
FRESH START TAX LLC Since 1982 Affordable IRS Tax Experts A Professional Tax Firm “A” Rated by the Better Business Bureau
We can provide immediate tax relief for any IRS tax situation you may be experiencing.
We have over 205 years of professional tax experience and over 60 years of working directly for the Internal Revenue Service in the local, district and regional tax offices.
We can go over all your tax options to assure you the very best option to lower your tax bill to the lowest amounts allowed by law.
We have on staff Board Certified Tax Attorneys, CPAs and Former IRS Agents, Managers and Instructors. We also taught tax law at the IRS.
We are one one of the oldest, most experienced and trusted professional tax firms. We get results.
Our Company Resume: ( Since 1982 )
- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- We taught Tax Law in the IRS Regional Training Center
- Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed and certified to practice in all 50 States
- Nationally Recognized Veteran /Published Former IRS Agent
- Nationally Recognized Published EZINE Tax Expert
- As heard on GRACE 90.3 FM Monthly Radio Show-Business Weekly
See our Home Page for more details Thank you
by steve | Sep 20, 2011 | Representation, Tax Help
Fresh Start Tax LLC Since 1982 IRS Tax Experts A Professional Tax Firm
If you have Gambling Winnings and need to reduce or offset that income call us today for a no cost tax consultation on how to lower your taxes.
Being comprised of Former IRS Agents, CPA’s and Tax Attorneys, we can help reduce your tax bill.
Call us for a no cost professional tax consult.
The IRS Rules and Regs: Gambling Income and Losses
The following rules apply to casual gamblers.
Gambling winnings are fully taxable and must be reported on your tax return. You must file Form 1040 (PDF) and include all of your winnings. Gambling income includes, but is not limited to, winnings from lotteries, raffles, horse races, and casinos. I also includes cash winnings and also the fair market value of prizes such as cars and trips.
A payer is required to issue you a Form W-2G (PDF) if you receive certain gambling winnings or if you have any gambling winnings subject to Federal income tax withholding. All gambling winnings must be reported on your Form 1040, including winnings that are not subject to withholding. In addition, you may be required to pay an estimated tax on your gambling winnings. For information on withholding on gambling winnings, refer to Publication 505, Tax Withholding and Estimated Tax.
You may deduct gambling losses only if you itemize deductions. However, the amount of losses you deduct may not be more than the amount of gambling income reported on your return. Claim your gambling losses on Form 1040, Schedule A, as a miscellaneous itemized deduction that is not subject to the 2% limit.
It is important to keep an accurate diary or similar record of your gambling winnings and losses. To deduct your losses, you must be able to provide receipts, tickets, statements or other records that show the amount of both your winnings and losses.
by steve | Sep 20, 2011 | Tax Settlements, Uncategorized
Fresh Start Tax LLC Since 1982 Affordable IRS Tax Experts A Professional Tax Firm “A” Rated by the Better Business Bureau
On staff a former IRS Agent/ Instructor that not only worked the Offer in Compromise Program which accepted Offers, but a staffer that actually taught the IRS Tax Debt Settlement Program at the local, district and regional offices of the IRS.
Call us to a no cost professional tax consultation. Talk directly to a Board Certified Tax Attorney, CPA or Former IRS Agents/ Managers.
Hear the truth about your case from true IRS tax experts.
Caution: do not be ripped off by companies promising you pennies on a dollar.
Areas of Professional Tax Practice:
- Same Day IRS Tax Representation
- Offers in Compromise or IRS Tax Debt Settlements
- Immediate Release of IRS Bank Levies or IRS Wage Garnishments
- Tax Relief from a IRS Bill, Letter or Notice of “Intent to Levy”
- IRS Tax Audits
- IRS Hardships Cases or Unable to Pay
- Payment Plans, Installment Agreements, Structured agreements
- Abatement of Penalties and Interest
- State Sales Tax Cases
- Payroll / Trust Fund Penalty Cases / 6672
- Filing Late, Back, Unfiled Tax Returns
- Tax Return Reconstruction if Tax Records are lost or destroyed
Our Company Resume: ( Since 1982 )
- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- We taught Tax Law in the IRS Regional Training Center
- Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed and certified to practice in all 50 States
- Nationally Recognized Veteran /Published Former IRS Agent
- Nationally Recognized Published EZINE Tax Expert
- As heard on GRACE 90.3 FM Monthly Radio Show-Business Weekly
IRS Tax Debt Settlements :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 tax representative. You will never have to speak to the IRS.
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.
IRS Tax 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. IRS 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
