by Fresh Start Tax | Sep 16, 2015 | Tax Help
“AFFORDABLE” Former IRS agents & managers who know the system, Since 1982. Low Cost Options. A plus Rated BBB
Since 1982, we are a full service tax firm that specialize in IRS and state tax services.
We have over 206 years of professional tax experience.
All our work is done in-house. We specialize in IRS & NY State tax problem help services.
We can remove an IRS tax levy garnishment within 24 hours of receiving your current financial statement, talk to you about the removal of a federal tax lien, represent you during an IRS tax audit, file any and all back tax returns and talk you about the settlement of your tax debt through the offer in compromise if you are a suitable and eligible candidate.
I am a former IRS revenue officer and former instructor who taught IRS collection agents their jobs. We know the system inside and out to get you the best possible tax results.
We are uniquely qualified to help you with any IRS problem or matter. Having worked for the Internal Revenue Service gets us a distinct advantage over other professional companies
IRS Tax Problems IRS Tax Levies + IRS Tax Wage Garnishments
The Internal Revenue Service levies approximately 1.8 million taxpayers each and every year and this figure includes and bank & wage garnishments.
The IRS files approximately 700,000 federal tax liens each year.
If you have been tax levied you are not alone.
If you have not responded to an IRS final notice they systematically send out an IRS tax levy from their CADE2 computer system. Not a human hand touches his tax levy they are all sent out my computer.
As a general rule IRS sends out a series of billing notices to the last known address.
The IRS billing notices or five weeks apart. You must respond to a final notice or enforcement action will follow six weeks later.
Before IRS will release the levy many times they want all on file tax returns in their hand to make sure you are in full compliance.
If you have received a final notice of intent to levy from the Internal Revenue Service make sure you follow-up on the 30 day date, if you don’t IRS will take enforcement action.
Before IRS will remove a tax levy or wage garnishment they will need a current and verifiable financial statement. The form to be used is the 433 f.
If the cases in the local office the revenue officer will require form 433A.
Once we have your current verified financial statement in hand, we can usually get your tax levy or garnishment released within 24 hours.
It is important that your financial statement is completely documented.
IRS usually closes a case by putting a case and tax hardship, having a taxpayer into a monthly installment agreement or telling them they may qualify for an offer in compromise your tax debt settlement.
IRS Tax Facts:
1. 40% of all people who owe IRS tax debt have their cases put into what is called a
2. currently not collectible file, and 6.5 million taxpayers have their cases put into current installment agreement or payments.
Please remember your current financial statement will determine the outcome of your case therefore it is critical to have a tax professional complete the financial information.
If you have back tax returns to file, you can have former IRS agents ensure that you are paying the lowest amount of tax allowed by law.
If you wish to settle your tax debt, we can have former IRS revenue officers who worked the offer in compromise program settle your tax debt if and only if you were a true candidate for a tax debt settlement called an offer in compromise.
If you are undergoing an IRS tax audit you can have a former IRS audit manager represent your best interest and provide the best possible tax defense.
Call us today for a free initial tax consultation and speak with the true IRS tax expert. We have over 206 years of professional tax experience.
Affordable IRS Tax Problem Help Services + Stop IRS Levy Garnishments NOW + File Back Tax Returns + Offer to Settle Tax Debt + Los Angles + 90077, 90049, 90094, 90024, 90064
by Fresh Start Tax | Sep 16, 2015 | Tax Help
Former IRS Agents & Managers to know the system. Low cost Options. Affordable, Since 1982. A plus Rated !!!
If you wish to settle back IRS taxes you can call us today to learn about the different systems IRS uses to settle back tax debt.
IMPORTANT – Most likely, your current financial statement will determine the outcome therefore the submission preparation of your financial statement is the key to success.
Let our years with the Internal Revenue Service be your best friend.
We have a combined 60 years of direct work experience at the Internal Revenue Service.
We are composed of tax attorneys, CPAs, and former federal and state tax agents.
If you have any back tax issues with the Internal Revenue Service or have not filed back income/business tax returns, we can settle your case all at the same time.
As a former IRS revenue officer I have worked hundreds of cases and can be very instrumentally in the settling of your case. Not only was I a former IRS agent but I was also a teaching instructor of the offer in compromise program, I know this work inside and out.
Why is Fresh Start Tax LLC is a much different firm than other companies.
We do our own work in-house, most companies sub their work out to backend offices.
We have over 60 years of direct work experience working in the local, district and regional tax offices of the IRS. We have worked as managers, instructors, and teaching agents.
Some of our staff have put on joint forums with the Internal Revenue Service. We have an excellent working relationship with Uncle Sam.
Understanding the system is a huge part of getting success when dealing with IRS.
Offer in Compromise / Settling Tax Cases on Back Taxes Debt
If you want to settle your back taxes, IRS will require a current financial statement along with full documentation.
IRS rules require form 433F, along with bank statements, copy of pay stubs, and monthly expenditures.
IRS conducts a thorough review of your current financial statement and compares that with the national, regional, and localized standards to ensure that everybody is getting the same treatment.
The IRS will use a six-month timeframe to make determinations on your case. In some cases the IRS can ask for the last year.
It is important a true professional fill-out the financial statements because we know exactly what IRS is looking for and can help navigate the waters to get you achieved results.
Filing Back or Unfiled / Past Due Tax Returns
Over 16 million taxpayers do not file annual tax returns.
At some point if you do not file the Internal Revenue Service will catch up with you do not keep your head in the sand.
If you have not filed tax returns we can prepare your returns with little or no records do our reconstructive methods we learned IRS.
If you did not file your back tax returns, IRS can prepare them for you and you will owe more money than you should. IRS as the ability under 6020B to file for you.
If you do not respond to the IRS bills and notices they send out as a result of filing your tax returns IRS will follow-up with tax levies in the filing a federal tax liens.
We can prepare your back or on file tax returns with little or no tax records.
If the IRS has already filed your back tax returns and they are grossly inaccurate, call us today for us to file for an IRS audit reconsideration.
Do not be afraid of filing your tax returns with IRS because at some point in time they will catch up with you.
Call us today for a free initial tax consultation.
File IRS Offer in Compromise + Former IRS + Affordable + Tax Debt Settlements + Reduce IRS Taxes + File Back Tax Returns
by Fresh Start Tax | Sep 16, 2015 | Tax Help
We are the “AFFORDABLE” professional tax firm with over 206 years of professional tax experience, since 1982.
We have over 60 years of direct work experience in the local, district and regional tax offices of the Internal Revenue Service.
We have worked as IRS supervisors, as managers, and teachings instructors.
As former employees we taught new IRS agents their job. You want our years of experience working for you.
If you have any sort of IRS problem contact us today and we can review with you various solutions to go ahead and help with an IRS final notice, certified mail, intent to levy, the filing of a federal tax lien, payment plans and the settling of your case through an offer a compromise.
We will thoroughly review your case and go over various options and remedies to completely end your IRS problem or situation.
If you have received an IRS final notice, we can stop IRS today with the simple filing of a power of attorney and with a direct IRS conversation.
We handle all correspondence and you will never communicate with the Internal Revenue Service.
We can talk to you about the removal or the filing a federal tax liens, work out a payment plan, release a tax levy or talk to you about settling your debt to the offer in compromise program.
Through the new IRS fresh start initiative many more taxpayers are settling their debt for pennies on a dollar, however you must be a qualified candidate.
If you are going to owe back taxes and wish a payment plan or which to reach a settlement with them call us today for a free initial tax consultation.
The systems are very simple within 10 minutes you will be completely educated on how to make the best decision for your current financial condition and situation.
Your current financial system will indicate the type of way IRS will close case. There is true value in hiring certified tax professional.
IRS Tax Billing Notices
If IRS sends you a document it is time sensitive and taxpayers must follow-up on all time sensitive letters. Never ignore an IRS tax notice, they will follow-up and do exactly what they say.
Once a tax return is filed or IRS initiates a tax assessment, IRS sends out a series of five notices and those notices are sent five cycles or five weeks apart.
IRS has the option, depending on the dollar amount and the history of the taxpayer to speed up those assessments.
IRS Billing Notices
These IRS tax notices are all sent out in five-week billing cycles.
1. CP 14 – This is the notice of balance due,
2.CP 501 – This is a Bill that you still owe tax,
3. CP503 – Important, Immediate Action Required
4. CP 504 – Urgent Notice – We Intend to Levy on Certain Assets, Please Respond Now
5. CP90/CP297/ – IRS Letter 1058 – Final Notice of Intent to Levy of Your Right to a Hearing
6.CP 91- CP298 -Final IRS Notice, You must answer his Notice!
Call us today for free initial tax consultation. You will speak directly to a true tax professional.
IRS Final Notice, Certified Mail + STOP IRS NOW + Intent to Tax Levy & Lien + IRS Payment Plans + Settle, Offer in Compromise + Unfiled Tax Returns +
by Fresh Start Tax | Sep 15, 2015 | Tax Help
We are an “AFFORDABLE ” professional tax firm that has been in private practices 1982. We can completely settle your case!
If you wish to settle back IRS taxes can call us today to learn about the different systems IRS uses to settle back tax debt. Being former IRS agents we know the system.
We are composed tax attorneys, CPA’s and former agents.
If you have any back tax issues with the Internal Revenue Service or have not filed back income tax returns, we can result in settle your case all at the same time.
We have over 206 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 of the IRS.
As former IRS agents we know every process and system that exist within the Internal Revenue Service.
*Fresh Start Tax LLC is a much different firm than other companies*
We do our own work in-house, most companies sub their work out to backend offices.
We are staffed with tax attorneys, CPAs and former IRS agents. Our vast experience and knowledge with the Internal Revenue Service works in your favor.
If you want to settle your back taxes, IRS will require a current financial statement along with documentation.
IRS rules require only form 433F or 433A may be used along with bank statements, copy of pay stubs, and monthly expenditures.
The Internal Revenue Service will compare your expenses against your income and compare that to that of the national, regional, and localized standards and come up with the ruling.
All tax returns must be filed. Over 16 million taxpayers do not file annual tax returns.
At some point if you do not file the Internal Revenue Service will catch up with you do not keep your head in the sand
If you have not filed tax returns we can prepare your returns with little or no records do our reconstructive methods we learned IRS.
If you did not file your back tax returns, IRS can prepare them for you and you will owe more money than you should. IRS as the ability under 6020B to file for you.
If you do not respond to the IRS bills and notices they send out as a result of filing your tax returns IRS will follow-up with tax levies in the filing a federal tax liens
IRS levies (bank & wages ) approximately 1.9 million taxpayers each and every year.
We can remove an IRS tax or wage garnishment levy within 24 hours of receiving your current financial statement and or get you placed into a payment program or tax hardship depending on your situation.
Settling IRS Tax Debt OIC
If you wish to settle your IRS tax that you will do have to do so through the offer in compromise program. I am a former IRS agent who taught this program at the IRS.
As a general rule the IRS usually settles tax debt by putting cases and hardship, payment plans or through the offer in compromise program.
What is an Offer in Compromise
An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than the full amount owed.
If the liabilities can be fully paid through an installment agreement or other means, the taxpayer will in most cases not be eligible for a OIC.
In order to be eligible for a OIC, the taxpayer must have:
1.• filed all tax returns,
2.• made all required estimated tax payments for the current year, and
3.• made all required federal tax deposits for the current quarter if the taxpayer is a business owner with employees.
In most cases, the IRS will not accept a OIC unless the amount offered by the taxpayer is equal to or greater than the reasonable collection potential (the RCP). The reason for this is quite simple, the IRS can just sees the asset and collect the full value.
The RCP includes the value that can be realized from the taxpayer’s assets, such as real property, automobiles, bank accounts, and other property.
In addition to property, the RCP also includes anticipated future income, less certain amounts allowed for basic living expenses.
Most offers in compromises take any where between 20 hours to work by an IRS agent. Also if a the offer and compromise is accepted it becomes a matter of public record and is available for public inspection.
The offer in compromise or tax settlement stays on record for one year at the regional tax offices for public inspection. That’s right, you can walk right into a regional office and asked them to see their accepted offers in compromise.
You can check for the district offices through the Internal Revenue Service website.
The IRS may accept a OIC based on three grounds.
1. Acceptance is permitted if there is doubt as to liability. This ground is only met when genuine doubt exists under applicable law that the IRS has correctly determined the amount owed.
2. Acceptance is permitted if there is doubt that the amount owed is fully collectible. This means that doubt as to collectibility exists in any case where the taxpayer’s assets and income are less than the full amount of the tax liability.
3. Acceptance is permitted based on effective tax administration.
An offer in compromise may be accepted based on effective tax administration when there is no doubt that the tax is legally owed and that the full amount owed can be collected, but requiring payment in full would either create an economic hardship or would be unfair and inequitable because of exceptional circumstances.
We are a full service tax firm, since 1982.
We are A+ rated by the Better Business Bureau. Get help from true IRS tax professionals.
Settle Back IRS Taxes + Unfiled Tax Returns + IRS Levy’s + IRS Payments + IRS Problems = Former Agents + Fast Affordable
by Fresh Start Tax | Sep 14, 2015 | Tax Help
Affordable Former IRS Agents and Managers, May be able to Wipe Out or Cancel Your Tax Debt
Yes it is possible to wipe out your tax debt as a result of the 1099.
Call us today for a free initial tax consultation we may be able help you in walk used to the process.
Canceled Debt – Is It Taxable or Not?
A debt includes any indebtedness whether you are personally liable or liable only to the extent of the property securing the debt.
Cancellation of all or part of a debt that is secured by property may occur because of a foreclosure, a repossession, a voluntary return of the property to the lender, abandonment of the property, or a principal residence loan modification.
In general, if your debt is canceled, forgiven, or discharged you will receive a Form 1099-C Cancellation of Debt, and must include the canceled amount in gross income unless you meet an exclusion or exception.
If you receive a Form 1099-C but the creditor is continuing to try to collect the debt, the creditor may not have canceled the debt.
You should verify with the creditor your specific situation; you might not have cancellation of debt or taxable income.
In general, you must report any taxable amount of a canceled debt for which you are liable as ordinary income from the cancellation of debt, on Form 1040, U.S. Individual Income Tax Return, or Form 1040NR (PDF), U.S. Nonresident Alien Income Tax Return, and associated schedules, as advised in Publication 4681 (PDF), Canceled Debts, Foreclosures, Repossessions, and Abandonment’s (for Individuals).
You must report the taxable amount of a taxable canceled debt whether or not you receive a Form 1099-C.
Caution:
If property secured your debt and the lender takes that property in full or partial satisfaction of your debt, you are treated as having sold that property and may have a taxable gain or loss.
The gain or loss on such a deemed sale of your property is an issue separate from whether any cancellation of debt income associated with that same property is includable in gross income.
Canceled debts that meet the requirements for any of the following exceptions or exclusions are not taxable.
Debt Cancellations or Reductions that Qualify for EXCEPTION to Inclusion in Gross Income:
1. Amounts specifically excluded from income by law such as gifts, bequests, devises or inheritances
2. Cancellation of certain qualified student loans
3. Canceled debt, that if it were paid by a cash basis taxpayer, would be deductible
4. A qualified purchase price reduction given by a seller
5. Any Pay-for-Performance Success Payments that reduce the principal balance of your home mortgage under the Home Affordable Modification Program
Canceled Debt that Qualifies for EXCLUSION from Gross Income:
1. Debt canceled in a Title 11 bankruptcy case
2. Debt canceled during insolvency
3. Cancellation of qualified farm indebtedness
4. Cancellation of qualified real property business indebtedness
5. Cancellation of qualified principal residence indebtedness
The exclusion for qualified principal residence indebtedness provides tax relief on canceled debt for many homeowners involved in the mortgage foreclosure crisis currently affecting much of the United States.
The exclusion allows taxpayers to exclude up to $2,000,000 ($1,000,000 if married filing separately) of canceled qualified principal residence indebtedness.
Generally, if you exclude canceled debt from income under one of the exclusions listed above, you must reduce certain tax attributes (certain credits, losses, basis of assets, etc.), within limits, by the amount excluded. You must file Form 982 (PDF), Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment), to report the amount qualifying for exclusion and any corresponding reduction of those tax attributes.
For cancellation of qualified principal residence indebtedness that you exclude from income, you must only reduce your basis in your principal residence.
If you received a Form 1099-C and the information is incorrect, contact the lender to make corrections. Refer to Publication 4681 (PDF), Canceled Debts, Foreclosures, Repossessions, and Abandonment’s (for Individuals), for more detailed information regarding taxability of canceled debt, how to report it, and related exceptions and exclusions.
