by Fresh Start Tax | Jun 6, 2016 | Tax Help
We are an affordable tax firm that can resolve any IRS tax problem. Since 1982.
When you know the system the rest comes easy.
You can have back tax help by former IRS agents were teaching instructors with the Internal Revenue Service.
We know every possible solution to resolve your back tax debt now.
As former IRS agents supervisors and teaching instructors we had great value to any taxpayer trying to sort out the different options they have with IRS if you owe back taxes have back tax debt, or have to file back tax returns.
Back Taxes Debt Options from the Tax Experts
The first option always is to see if you can settle your tax debt through pennies on the dollar through the offer in compromise program.
Our firm has a distinct advantage over other forms as I am a former IRS teaching agent of the offer in compromise program when employed at Internal Revenue Service.
We will review with you the very specifics of your tax issue or back tax problem and after a careful review of your exit strategy and your financial statement, we can come up with the best strategy to reduce your tax debt, manage the IRS and handle all the representation for affordable fees and prices.
We are a full-service firm with all work being done in-house.
When IRS takes a current financial statement to make a determination on how they will treat you as a taxpayer there are basically three options available for you to take care of your back tax matter:
1. Internal Revenue Service puts 40% of all open cases into currently not collectible status which stay there for approximately a year, or,
2.6.5 million people enter into installment payments based on their current financial statements as IRS carefully looks at your income and necessary living expenses.
3. The last option and the best option is to settle your debt to pennies on the dollar through the offer in compromise program. last year 38,000 offers in compromise were accepted for an average settlement of $4000 per case. Please keep in mind this is completely dependent on the current financial statement that IRS reviewed and accepted.
Payment plan options for Back Taxes Debt
There are many factors that determine payment plan options.
The Internal Revenue Service when exploring a payment plan option with the taxpayer will look at the amount due, making sure all tax returns are current and up-to-date and will look on the amount of money the taxpayer wants to pay back depending on statutory periods of time.
When you call our office we will review with you the three different options you have available to make a payment plan and get the one you want not, the one forced on you by Internal Revenue Service.
As a former IRS agent, I can tell you that Internal Revenue Service tries to enforce their will and extracting money from taxpayers trying to collect money they do not have.
Knowing all the procedures and the options you have available and the rights you have, we can make sure you are treated fairly and that you have the best possible payment agreement you can get based on your current financial statement and living expenses.
When you use our firm, you do not have to fear being bullied by the Internal Revenue Service, we know their systems inside and out.
It is necessary for you to know that all your tax returns will need to be filed for IRS to close out your case.
If you have returns are not filed we can prepare those with little or no records.
Call us today for a free initial tax consultation assessment and let’s find out how we can get your case closed for affordable pricing.
Since 1982, A plus rated BBB. We are the fast, friendly, and affordable professional tax firm.
Back Taxes Help by Former IRS Agents + Resolve Tax Debt Now
by Fresh Start Tax | Jun 6, 2016 | Tax Help
We are an affordable tax firm that can resolve any IRS tax problem. We are experts in back taxes payment plan options. Since 1982.
As former IRS agents supervisors and teaching instructors we had great value to any taxpayer trying to sort out the different options they have with IRS if you owe back taxes have back tax debt, or have to file back tax returns.
Back Tax Debt Options from the Tax Experts
The first option always is to see if you can settle your tax debt through pennies on the dollar through the offer in compromise program.
Our firm has a distinct advantage over other forms as I am a former IRS teaching agent of the offer in compromise program when employed at Internal Revenue Service.
We will review with you the very specifics of your tax issue or back tax problem and after a careful review of your exit strategy and your financial statement, we can come up with the best strategy to reduce your tax debt, manage the IRS and handle all the representation for affordable fees and prices.
We are a full-service firm with all work being done in-house.
When IRS takes a current financial statement to make a determination on how they will treat you as a taxpayer there are basically three options available for you to take care of your back tax matter:
1. Internal Revenue Service puts 40% of all open cases into currently not collectible status which stay there for approximately a year, or,
2.6.5 million people enter into installment payments based on their current financial statements as IRS carefully looks at your income and necessary living expenses.
3. The last option and the best option is to settle your debt to pennies on the dollar through the offer in compromise program. last year 38,000 offers in compromise were accepted for an average settlement of $4000 per case. Please keep in mind this is completely dependent on the current financial statement that IRS reviewed and accepted.
Payment plan options for Back Tax Debt
There are many factors that determine payment plan options.
The Internal Revenue Service when exploring a payment plan option with the taxpayer will look at the amount due, making sure all tax returns are current and up-to-date and will look on the amount of money the taxpayer wants to pay back depending on statutory periods of time.
When you call our office we will review with you the three different options you have available to make a payment plan and get the one you want not, the one forced on you by Internal Revenue Service.
As a former IRS agent, I can tell you that Internal Revenue Service tries to enforce their will and extracting money from taxpayers trying to collect money they do not have.
Knowing all the procedures and the options you have available and the rights you have, we can make sure you are treated fairly and that you have the best possible payment agreement you can get based on your current financial statement and living expenses.
When you use our firm, you do not have to fear being bullied by the Internal Revenue Service, we know their systems inside and out.
It is necessary for you to know that all your tax returns will need to be filed for IRS to close out your case.
If you have returns are not filed we can prepare those with little or no records.
Call us today for a free initial tax consultation assessment and let’s find out how we can get your case closed for affordable pricing.
Since 1982, A plus rated BBB.
IRS Taxes + Tax Debt Options + Back Tax Payment Plan Options
by Fresh Start Tax | Jun 6, 2016 | Tax Help
We are an affordable tax firm that can resolve any IRS tax problem. We are experts in back taxes payment plan options. Since 1982
As former IRS agents supervisors and teaching instructors we had great value to any taxpayer trying to sort out the different options they have with IRS if you owe back taxes or have to file back or late tax returns.
Back Tax Options
The first option always is to see if you can settle your tax debt through pennies on the dollar through the offer in compromise program.
Our firm has a distinct advantage over other forms as I am a former IRS teaching agent of the offer in compromise program when employed at Internal Revenue Service.
We will review with you the very specifics of your tax issue or back tax problem and after a careful review of your exit strategy and your financial statement, we can come up with the best strategy to reduce your tax debt, manage the IRS and handle all the representation for affordable fees and prices.
We are a full-service firm with all work being done in-house.
When IRS takes a current financial statement to make a determination on how they will treat you as a taxpayer there are basically three options available for you to take care of your back tax matter:
1. Internal Revenue Service puts 40% of all open cases into currently not collectible status which stay there for approximately a year, or,
2.6.5 million people enter into installment payments based on their current financial statements as IRS carefully looks at your income and necessary living expenses.
3. The last option and the best option is to settle your debt to pennies on the dollar through the offer in compromise program.
Payment plan options
There are many factors that determine payment plan options.
The Internal Revenue Service when exploring a payment plan option with the taxpayer will look at the amount due, making sure all tax returns are current and up-to-date and will look on the amount of money the taxpayer wants to pay back depending on statutory periods of time.
When you call our office we will review with you the three different options you have available to make a payment plan and get the one you want not, the one forced on you by Internal Revenue Service.
As a former IRS agent, I can tell you that Internal Revenue Service tries to enforce their will and extracting money from taxpayers trying to collect money they do not have.
Knowing all the procedures and the options you have available and the rights you have, we can make sure you are treated fairly and that you have the best possible payment agreement you can get based on your current financial statement and living expenses.
When you use our firm, you do not have to fear being bullied by the Internal Revenue Service, we know their systems inside and out.
It is necessary for you to know that all your tax returns will need to be filed for IRS to close out your case.
If you have returns are not filed we can prepare those with little or no records.
Call us today for a free initial tax consultation assessment and let’s find out how we can get your case closed for affordable pricing.Since 1982, A plus rated BBB.
IRS Taxes + Back Tax Payment Plan Options + Affordable Expert IRS Tax Help
by Fresh Start Tax | Jun 6, 2016 | Tax Help
I Received a Letter from IRS about EITC or I Am Being Audited, What Should I Do?
Don’t ignore the letter (notice). Follow the directions on the your letter. All the information you need is in your letter.
This page explains your notice and gives tips on what you need to do now.
My Letter Says I May Qualify for EITC; What Should I Do?
We sent you a letter (notice) because our records show you may be eligible for the EITC but didn’t claim it on your tax return.
First, find out if you qualify for EITC by following the steps shown in your notice. You can find out more about What you Need to Do and What we Will Do by using one of the links below. You can find your notice number in the top right corner of your notice.
• Notice Number: CP09
• Notice Number: CP27
If you need more help, you can:
• use the EITC Assistant for the tax year shown on your notice.
It helps you find out if you qualify for EITC with or without a qualifying child
OR
• review the Do I Qualify for EITC? page
My Letter Says I Need to Send Information to Verify My EITC Claim; What Should I Do?
We’re auditing your tax return and need information from you to verify the EITC you claimed. We may be holding your refund of the following credits: EITC also called EIC, ACTC (Additional Child Tax Credit), the PTC (Premium Tax Credit) and the AOTC (American Opportunity Tax Credit). We will hold this refund pending the results of your audit.
Don’t ignore this notice.
Find out more about What you Need to Do and What we Will Do by using one of the links below.
You can find your notice number in the top right corner of your notice.
• Notice Number: CP75
• Notice Number: CP75A
Find help resolving your audit through:
• Reading our Tax Topic which explains the next steps
•
My Notice Says We Changed Your Tax Return that Affected Your EITC Claim; What Should I Do?
We changed your tax return because we believe you had an error that affected your EITC.The error could be:
• A missing or incorrect Social Security number for exemptions, dependents or credits
• The age of child is not consistent with the credit requirements
• A missing schedule or form; such as the Form 8862 or Form 8862-SP
• An addition, subtraction, multiplication or division error on your return
• An incorrect information from a tax table, worksheet, schedule or form
Find out more about What you Need to Do by using one of the links below.
You can find your notice number in the top right corner of your notice.
• Notice Number: CP10A
• Notice Number: CP11A
• Notice Number: CP12A
• Notice Number: CP13A
Note: If you are or were required to file Form 8862 or Form 8862-SP or your EITC was previously disallowed and now you want to claim EITC, see My EITC was Disallowed Previously and Now I Want To Claim EITC.
My Letter Says IRS has Important Information about My EITC Tax Return; What Should I Do?
New for 2016. We are sending letters to people who claimed the EITC when our records don’t match the information on his or her tax return. If you get one of these letters, you are not being audited but we do want you to review your return to make sure it is complete and correct.
If you claimed the EITC in error, file a Form 1040X (Form 1040X instructions) amended return to correct it. See Ten Facts on Filing an Amended Return here.
Also you can use the information when you file your next tax return to help you understand the rules for claiming the EITC and reporting your income correctly.
The new letters are:
• Letter 5621, Make sure your children meet the criteria for claiming the EITC
This letter asks you to review your tax return to make sure the children claimed on the tax return for EITC each met all the qualifying children rules for the credit.
• Letter 5621-A, Make sure the income and expenses you reported on your Schedule C or Schedule C-EZ are correct
This letter asks you to review your tax return to determine if all the income and expenses reported on your Schedule C or C-EZ are complete and correct.
My Notice Says, We’re not allowing your credit; What Should I Do?
You were banned from claiming the Earned Income Credit (EIC) for two or ten years for your intentional disregard of the rules or a fraudulent claim. Since your ban is still in effect, we disallowed the EIC for this tax year.
Your notice is a CP75C.
In about 30 days, you will get another notice, the Statutory Notice of Deficiency. If you agree, sign and return the notice to us.
If you believe the ban was incorrectly applied, you need to request an audit reconsideration for the year we banned you. Learn more about an audit reconsideration on the IRS Audit page.
by Fresh Start Tax | Jun 6, 2016 | Tax Help
What to Know about Late Filing and Late Paying Penalties
What you should know about these penalties.
1. Two penalties may apply.
If you file your federal tax return late and owe tax with the return, two penalties may apply. The first is a failure-to-file penalty for late filing.
The second is a failure-to-pay penalty for paying late.
2. Penalty for late filing.
The failure-to-file penalty is normally 5 percent of the unpaid taxes for each month or part of a month that a tax return is late. It will not exceed 25 percent of your unpaid taxes.
3. Minimum late filing penalty.
If you file your return more than 60 days after the due date or extended due date, the minimum penalty for late filing is the smaller of $135 or 100 percent of the unpaid tax.
4. Penalty for late payment.
The failure-to-pay penalty is generally 0.5 percent per month of your unpaid taxes. It applies for each month or part of a month your taxes remain unpaid and starts accruing the day after taxes are due. It can build up to as much as 25 percent of your unpaid taxes.
5. Combined penalty per month.
If the failure-to-file penalty and the failure-to-pay penalty both apply in any month, the maximum amount charged for those two penalties that month is 5 percent.
6. File even if you can’t pay.
In most cases, the failure-to-file penalty is 10 times more than the failure-to-pay penalty. So if you can’t pay in full, you should file your tax return and pay as much as you can.
7. Late payment penalty may not apply.
If you requested an extension of time to file your income tax return by the tax due date and paid at least 90 percent of the taxes you owe, you may not face a failure-to-pay penalty. However, you must pay the remaining balance by the extended due date.
8. No penalty if reasonable cause.
You will not have to pay a failure-to-file or failure-to-pay penalty if you can show reasonable cause for not filing or paying on time.
There is also penalty relief available for repayment of excess advance payments of the premium tax credit for 2014.
