by Fresh Start Tax | Sep 20, 2014 | Tax Help
Stop the worry. Have Affordable Former IRS Agents who know the system stop the IRS.
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IRS Tax Levy, Bank , Wage Garnishments
FST can get IRS tax levies released within 24 hours of receiving your current financial statement and settle you IRS case at the same time.
If you are undergoing a IRS tax audit you can have former IRS agents and managers who know the audit system inside and out represents you and defend you during an IRS tax audit.
IRS Tax Settlements, Offer in Compromise
If you want to apply for an IRS tax settlement called an offer of compromise you can have a former IRS revenue officer who both worked and taught the tax debt settlement call offer in compromise file your offer in compromise if you are a true candidate for offer in compromise.
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 an OIC.
In order to be eligible for an OIC, the taxpayer must have filed all tax returns, made all required estimated tax payments for the current year and 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 an OIC unless the amount offered by the taxpayer is equal to or greater than the reasonable collection potential (the RCP). The RCP is how the IRS measures the taxpayer’s ability to pay. 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.
The IRS may accept an OIC based on three grounds.
- First, acceptance is permitted if there is doubt as to liability. This ground is only met when there is a genuine dispute as to the existence or amount of the correct tax debt under the law.
- Second, acceptance is permitted if there is doubt that the amount owed is fully collectible. 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.
- Third, acceptance is permitted based on effective tax administration. An offer 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.
Past Due Tax Returns
If you have back tax returns you need to file we can go ahead and file your past due tax returns with little or no tax records,
We are a full service tax firm with all work done in-house by true and affordable IRS tax experts.
When surfing the Internet for IRS tax firm to represent you during an IRS problem you should contact companies that have bios and tax professionals who have experience on there websites.
Los Angeles – IRS Back Taxes Help – Tax Levy, Tax Audit, Tax Settlement, Past Returns – Los Angeles – California
by Fresh Start Tax | Sep 20, 2014 | Tax Help
If you are having an IRS problem have no fear.
Contact former IRS agents and managers who know the system.
We have a combined 60 years professional tax experience in the local, district, and regional tax offices of IRS.
Most people have panic and fear setting in because of IRS issues and problems however for every situation there is a positive solution and having over 60 years of direct work experience in the local, district, and regional tax offices of the Internal Revenue Service we can resolve any IRS tax problem.
Call us today for free initial tax consultation and we can walk you through the various solutions and processes to settle your case with Internal Revenue Service. Stop the worry right now.
If you owe back taxes or need to file back IRS tax returns we can prepare your back tax returns with or without records and prepare them under reconstructive methods that we learned at the Internal Revenue Service.
If you need to file returns we can help audit proof your tax returns.
As former IRS agents we understand all the guidelines and procedures to make this a seamless process.
If you want to settle IRS debt through the offer and compromise, tax debt settlement process, with you to find out if you are a suitable candidate to settle your tax debt through the offer in compromise.
Generally, the other two ways that IRS deals with back IRS tax debt is by asking a person to make monthly payments or by taking a current financial statement to determine whether they are a current hardship or uncollectible candidate.
These taxpayers will have their case put on the shelf for 2 or 3 years then there cases may be returned to the field.
Call us today and talk to true IRS tax experts who are true tax professionals in dealing with owing Back IRS tax debt, filing back tax returns and settling tax debt.
Don’ t be Afraid of the IRS – Owe Back Taxes, File Back Tax Returns, Settle Tax Debt * Former IRS Agents* Beverly Hills, Malibu, Pacific Palisades, Bel Air
by Fresh Start Tax | Sep 20, 2014 | Tax Help
IRS and School Tax Credits, What You Need to Know, Fresh Start Tax
Back-to-School Reminder for Parents and Students: Check Out College Tax Credits for 2014 and Years Ahead
Parents and students, now is a good time to see if you can will qualify for either of two college tax credits or any of several other education-related tax benefits when they file their 2014 federal income tax returns.
In general.
The American opportunity tax credit and lifetime learning credit are available to taxpayers who pay qualifying expenses for an eligible student.
Eligible students include the taxpayer and his or her spouse and dependents.
The American opportunity tax credit provides a credit for each eligible student, while the lifetime learning credit provides a maximum credit per tax return.
Though a taxpayer often qualifies for both of these credits, he or she can only claim one of them for a particular student in a particular year.
Claimed on Form 8863, these credits are available to all taxpayers, both those who itemize their deductions on Schedule A and those who claim a standard deduction.
For those eligible, including most undergraduate students, the American opportunity tax credit will generally yield the greater tax savings.
Alternatively, the lifetime learning credit should be considered by part-time students and those attending graduate school.
Both credits are available for students enrolled in an eligible college, university or vocational school, including both nonprofit and for-profit institutions.
Neither credit can be claimed by a nonresident alien, a married person filing a separate return or someone claimed as a dependent on another person’s return.
A student will receive a Form 1098-T from their institution by the end of January of the following year (Jan. 31, 2015 for calendar year 2014).
This tax form will show information about tuition paid or billed along with other information.
Amounts shown on this form may differ from amounts taxpayers are eligible to claim for these tax credits.
Taxpayers should see the instructions to Form 8863 and Publication 970 for details on properly figuring allowable tax benefits.
Many of those eligible for the American opportunity tax credit qualify for the maximum annual credit of $2,500 per student.
Students can claim this credit for qualified educational expenses paid during the entire tax year for a certain number of years:
- The credit is only available for 4 tax years per eligible student.
- The credit is available only if the student has not completed the first 4 years of post-secondary education before 2014.
Here are some more key features of the credit:
Qualified education expenses are amounts paid for tuition, fees and other related expenses for an eligible student.
Other expenses, such as room and board, are not qualified expenses.
The credit equals 100 percent of the first $2,000 spent and 25 percent of the next $2,000.
That means the full $2,500 credit may be available to a taxpayer who pays $4,000 or more in qualified expenses for an eligible student.
The full credit can only be claimed by taxpayers whose modified adjusted gross income (MAGI) is $80,000 or less.
For married couples filing a joint return, the limit is $160,000. The credit is phased out for taxpayers with incomes above these levels.
No credit can be claimed by joint filers whose MAGI is $180,000 or more and singles, heads of household and some widows and widowers whose MAGI is $90,000 or more.
Forty percent of the American opportunity tax credit is refundable.
This means that even people who owe no tax can get an annual payment of up to $1,000 for each eligible student.
The lifetime learning credit of up to $2,000 per tax return is available for both graduate and undergraduate students.
Unlike the American opportunity tax credit, the limit on the lifetime learning credit applies to each tax return, rather than to each student.
Also, the lifetime learning credit does not provide a benefit to people who owe no tax.
Though the half-time student requirement does not apply to the lifetime learning credit, the course of study must be either part of a post-secondary degree program or taken by the student to maintain or improve job skills.
Other features of the credit include:
- Tuition and fees required for enrollment or attendance qualify as do other fees required for the course. Additional expenses do not.
- The credit equals 20 percent of the amount spent on eligible expenses across all students on the return. That means the full $2,000 credit is only available to a taxpayer who pays $10,000 or more in qualifying tuition and fees and has sufficient tax liability.
Income limits are lower than under the American opportunity tax credit.
For 2014, the full credit can be claimed by taxpayers whose MAGI is $54,000 or less. For married couples filing a joint return, the limit is $108,000.
The credit is phased out for taxpayers with incomes above these levels. No credit can be claimed by joint filers whose MAGI is $128,000 or more and singles, heads of household and some widows and widowers whose MAGI is $64,000 or more.
Y
ou can use the IRS’s Interactive Tax Assistant tool to help determine if you are eligible for these benefits.
The tool is available on IRS.gov.
Eligible parents and students can get the benefit of these credits during the year by having less tax taken out of their paychecks.
They can do this by filling out a new Form W-4, claiming additional withholding allowances, and giving it to their employer.
There are a variety of other education-related tax benefits that can help many taxpayers. They include:
Scholarship and fellowship grants — generally tax-free if used to pay for tuition, required enrollment fees, books and other course materials, but taxable if used for room, board, research, travel or other expenses.
Student loan interest deduction of up to $2,500 per year.
Savings bonds used to pay for college — though income limits apply, interest is usually tax-free if bonds were purchased after 1989 by a taxpayer who, at time of purchase, was at least 24 years old.
Qualified tuition programs, also called 529 plans, used by many families to prepay or save for a child’s college education.
Taxpayers with qualifying children who are students up to age 24 may be able to claim a dependent exemption and the earned income tax credit.
The general comparison table in Publication 970 can be a useful guide to taxpayers in determining eligibility for these benefits. Details can also be found in the Tax Benefits for Education Information Center on IRS.gov.
by Fresh Start Tax | Sep 19, 2014 | Tax Help
We are the Affordable Professional Tax Firm.
Fresh Start Tax LLC is a full service tax firm that specializes in individual, business, and corporations that owe back IRS taxes.
We can completely and permanently resolve any federal or state tax matter.
FST has 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 and the IRS.
All our work is done in-house by a affordable and professional expert tax staff.
We are used by other firms to go ahead and work their complicated cases.
Our former IRS agents have worked as instructors when formerly employed at the IRS.
We are one of the most honest, trustworthy and affordable tax firms nationwide.
Check out our bios and rating on our website or with the Better Business Bureau.
We are so successful because we know the system, over 60 years with the IRS in the local, district and regional tax office of IRS.
Stop the worry right now.
We are a full service tax firm that specializes in immediate and permanent IRS relief.
We are comprised with tax attorney certified public accountants, tax lawyers, enrolled agents and a host of other tax professionals who are experts in those who owe back IRS taxes.
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We have a systematic way to work all our cases to get the very best possible IRS tax relief for all our individual, business and corporate clients.
Call us today for a free initial tax consultation and you will not speak to a salesperson.
You will speak to a true IRS tax professional that can go ahead and offer you affordable tax solutions and dealing with your IRS tax debt.
In dealing with the IRS on back taxes it is important to know for any individual, business or payroll tax case that you be current in the tax year you are in.
IRS is going to want to make sure that you can rehabilitate yourself and the key way they do that is making sure you are current in your filing and paying of taxes. Another words you want to have made a current estimated tax payment or federal tax deposit.
We are A+ rated by the BBB and that in private practice since 1982.
Chicago – Owe IRS Back Taxes = individual, Business, Payroll Taxes, Affordable Tax Attorneys, Lawyers – Former IRS Agents – Chicago
by Fresh Start Tax | Sep 19, 2014 | Tax Help
We are a AFFORDABLE full service professional tax firm that specializes in IRS representation.
We are comprised of tax attorneys, tax lawyers, certified public accountants, and former IRS agents.
We know the system and we know the process to give taxpayers a immediate and permanent IRS tax relief.
Our former IRS agents have logged over 60 years of direct work experience in the local, district, and regional tax offices of the Internal Revenue Service.
We have some of the most reasonable and affordable rates in the business.
We are the honest, experience, and most trustworthy tax firms.
We have been practicing since 1982 and are A+ rated by the Better Business Bureau with over 206 years of professional tax experience.
IRS Tax Levy Relief
An IRS tax Levy usually comes in two forms.
An IRS bank levy or an IRS wage garnishment levy.
Both are different.
An IRS Bank Levy puts a freeze on your money for 21 days where an IRS wage garnishment levy is an immediate seizure of your paycheck.
Within 24 hours of receiving your current financial statement, and as a general rule we can get your tax levy released and your case settled with the Internal Revenue Service.
It will be important to know that you will have to complete an IRS financial statement form 433-F please understand that form will need to be fully documented.
IRS Tax Audit
The Internal Revenue Service audits less than 1% of all taxpayers.
If you are undergoing an IRS tax audit you can have a former IRS audit manager provide your best possible tax defense and represent your best interest during an IRS tax audit.
We know the system.
We will also be able to tell you why your tax return was audited and to make sure you not make the same mistake again.
IRS Settlement
If you are wishing for an IRS tax settlement called an offer in compromise, we will be happy to walk you through the IRS prequalifier tool to see if you’re a suitable candidate before filing any offer in compromise.
We’ll qualify all taxpayers before we file and ask for an IRS tax settlement.
About 38% of all offers in compromise file to the Internal Revenue Service are settled for an average of $.14 on a dollar.
IRS Payments
If those wish to make payments to the Internal Revenue Service to resolve there debt, we will walk you through the financial statement to make an affordable payment that you can live with. Many times we can get your payment agreement finalized online if you qualify.
Call us today for a free initial tax consultation and speak to a true IRS tax expert who can resolve your case.
We are A+ rated by the Better Business Bureau and have been in private practice since 1982.
Tax Lawyer, Tax Attorney = IRS Tax Levy, IRS Tax Audit, IRS Payments, IRS Settlement – Affordable – Los Angeles
