by Fresh Start Tax | Jun 2, 2014 | Tax Help
We are a professional tax firm that specializes in back IRS debt relief.
We have over 60 years with the Internal Revenue Service in the local, district, and regional tax offices of the IRS.
38% of all taxpayers that file for IRS Tax Debt Settlements qualify.
We know every program available because we were former instructors and taught new IRS agents their jobs.
We also understand all the protocols, statistics and the tax settlement formulas and theories to get you the lowest possible settlement if you are a true and qualified taxpayer to settle your tax debt through the offer in compromise program.
Call us today for a free initial tax consultation and we will let you know for no charge if you can qualify for back IRS tax debt relief.
Many companies on the Internet will claim they can settle your case for pennies on the dollar and while that may be true you should not file for offer in compromise or IRS tax settlement unless you are truly qualified.
Being former IRS agents we will pre-qualify you for the program.
IRS Tax Debt Relief through the Offer in Compromise, Tax Debt Settlement
An offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can’t pay your full tax liability, or doing so creates a financial hardship.
IRS will consider your unique set of facts and circumstances. they will consider your,
1. Ability to pay;
2. Income;
3. Expenses; and
4. Asset equity.
IRS generally approve an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time.
We will make sure you are eligible.
Before IR will consider your offer, you must be current with all filing and payment requirements.
You are not eligible if you are in an open bankruptcy proceeding.
Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal,you can find this on our website.
Submitting your IRS Tax Debt Relief Settlement
Your completed offer package will include:
- Form 433-A (OIC) (individuals) or 433-B (OIC) (businesses) and all required documentation as specified on the forms;
- Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;
- $186 application fee (non-refundable); and
- Initial payment (non-refundable) for each Form 656.
Selection a payment option
Your initial payment will vary based on your offer and the payment option you choose:
1. Lump Sum Cash: Submit an initial payment of 20 percent of the total offer amount with your application. Wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.
2. Periodic Payment: Submit your initial payment with your application. 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.
Call us today for a free initial tax consultation and we can give you a free evaluation for a back IRS debt relief.
Back IRS Tax Debt Relief, IRS Tax Debt Settlements, Affordable Former IRS – Erie, Sharon, New Castle, Plum
by Fresh Start Tax | Jun 2, 2014 | Tax Help
We can usually remove or obtain a release of an IRS bank or wage garnishment levy within 24 hours receiving your current financial statement.
Close to 2 million taxpayers receive IRS bank or wage garnishment levies each and every year.
Being former IRS agents and managers we know the system to get a fast removal of your IRS tax levy
We are a affordable professional tax firm that has a tax expertise in all IRS matters.
From a simple IRS notice or letter, to going to tax court, we can help resolve any IRS problem you have. We are an affordable tax specialty firm.
We are A+ rated by the Better Business Bureau have been in private practice since 1982.
Call us today for a free initial tax consultation and we can tell you the steps to quickly obtain a release of an IRS bank or tax wage garnishment levy.
Process For Fast Removal of a IRS Bank Or Tax Wage Garnishment Levy
Being a former IRS agent, there is a very specific process to get a fast removal of an IRS bank or wage garnishment levy.
You will need to give to IRS a current financial statement on form 433F.
That financial statement will have to be completely documented along with pay stubs, copies of last three months bank statements competent and a copy of all monthly expenses.
After the Internal Revenue Service reviews your financial statement they will enter you into one of two programs with a suggestion of filing an offer in compromise if you qualify.
After IRS carefully reviews and analyzes your final financial statement they will either place your case into an economic tax hardship which is called currently not collectible, or ask you to make monthly payment agreement.
The Internal Revenue Service agent on the phone after looking at your case may let you know that you are a qualified candidate for offer in compromise because you appear to meet the criteria.
Once IRS reviews your financial statement they will send a removal or release of an IRS bank or wage garnishment levy.
Please note the Internal Revenue Service will make sure all your tax returns are filed, current and up-to-date.
If you have any questions call us today for free initial tax consultation and we can walk you through the various programs available by the Internal Revenue Service.
IRS LEVY HELP – Remove IRS Bank, Tax Wage Garnishment Levy – Fast, Affordable – Former IRS – Erie, Sharon, New Castle, Plum
by Fresh Start Tax | Jun 2, 2014 | Tax Help
IRS, Tax Return Info Education Credits
Question: What is a lifetime learning credit?
Answer: The lifetime learning credit is a nonrefundable tax credit with a per family dollar limit that is available for qualified tuition and related expenses of higher education, whether the student is at the undergraduate or graduate level.
The lifetime learning credit is calculated by taking 20% of the first $10,000 of the qualified educational expenses paid for all eligible students.
by Fresh Start Tax | Jun 2, 2014 | Tax Help
Question: Who can claim the American opportunity credit, the expansion of the Hope Scholarship credit?
Answer: The American opportunity credit modifies the Hope Scholarship credit for any tax years beginning in 2009 through 2017.
The maximum amount of the credit is $2,500.00 and 40% of the Hope credit is refundable (up to $1,000).
You may claim the Hope Scholarship credit if all of the following requirements are met:
- You pay qualified tuition and related expenses (see the definition below) for the first 4 years of post secondary education.
- The qualified tuition and related expenses are for an eligible student (see the definition below).
- You must state the name and taxpayer identification number of an eligible student on the return.
- You must also state the name and address of the qualifying educational institution and in most cases show the federal employer identification number of the institution.
- Your modified adjusted gross income is below a certain dollar limitation.
- You are not listed as a dependent in the exemption section of another person’s tax return (such as your parents’).
- If you are married, your filing status is married filing jointly.
- You do not claim the lifetime learning credit for the same student in the same year.
- If you (or your spouse) are a nonresident alien for any part of the tax year, the nonresident alien elects to be treated as a resident alien for tax purposes. (For additional information, refer to Publication 519, U.S. Tax Guide for Aliens).
In general, qualified tuition and related expenses means tuition, fees, and course materials required for the enrollment or attendance of you, your spouse, or your dependent with respect to whom you are allowed a deduction, at an eligible educational institution.
To be an eligible student, generally, the student must:
- Have been enrolled in a program that leads to a degree, certificate, or other recognized educational credential for at least one academic period beginning in the tax year.
- Carry at least half the normal full-time workload for the course of study.
- Not have made an election to claim the Hope Scholarship credit for any 4 earlier tax years.
- Not have completed the first 4 years of post secondary education before this tax year.
- Must have been free of any federal or state felony conviction for possessing or distributing a controlled substance as of the end of the tax year.
by Fresh Start Tax | Jun 2, 2014 | Tax Help
We can resolve any IRS or state tax problem that you are facing.
We are a professional tax specialty firm that is designed to end any IRS or state tax matters you have stemming from a simple notice or letter to going to US Tax Court.
FST is comprised of tax attorneys, tax lawyers, certified public accountants, enrolled agents, and former IRS agents.
Our former IRS agents have over 60 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the IRS.
We’ve been in private practice since 1982 and are A+ rated by the Better Business Bureau.
IRS Tax Settlements are called Offer in Compromise
If you owe tax debt and wish to settle your case with the Internal Revenue Service you will have to file what is known as the offer in compromise.
As a former IRS agent I worked the offer in compromise program and was a teacher or instructor for the program
As a result I understand all the techniques and protocols to get you the lowest tax settlement possible for the offer in compromise if you are a legitimate candidate to settle your tax debt.
FST will walk you through the IRS pre-qualifier tool to find out what is the lowest possible dollar amount you can settle your tax debt if you qualify.
Their very specific guidelines to settle your case with the Internal Revenue Service.
You should also know that 38% of all taxpayers that file IRS tax settlements, offers in compromise get their tax debts settled.
Filing back tax returns.
We can file all your back tax returns with little or no records.
Being former IRS agents we can reconstruct your tax returns if you need to do that and we can work out an IRS tax settlement as well.
Call us today for free initial tax consultation and we will go over the different options you have available to resolve any IRS problem that you have.
File Back Tax Returns, IRS Settlements, Offer in Compromise, Former IRS – Pittsburgh, Bethel Park, Johnstown
