by Fresh Start Tax | Apr 18, 2014 | Tax Help
We are the Affordable South Florida Professional Tax Firm.
We are a local South Florida tax firm that has been practicing since 1982 are our A+ rated by the Better Business Bureau.
As former IRS agents and managers we worked out a local South Florida tax offices and needless to say we know the system.
Fresh Start Tax LLC is comprised of tax attorneys, tax lawyers, certified public accountants, enrolled agents, and former IRS agents.
We can handle any IRS or State Tax Problem you have.
From a simple IRS notice or letter to going to IRS appeals or even going to Tax Court we can handle any and all IRS situations.
Owing Back Taxes to the IRS
If you owe back taxes to the IRS or have a current IRS tax Levy or looking for an IRS tax settlement you must be prepared to give IRS a current documented financial statement.
There are one of three financial statements IRS may require depending where your case is within the system and what you are trying to do.
When we review your case with you we will let you know the required financial statement IRS will ask for.
You will need to be prepared to give IRS the last 3 to 6 months of your bank statements, copy of all monthly expenses, and a copy of all pay stubs.
IRS will make a determination based on your current financial statement on how they will close or settle your case.
IRS Tax Levies
If you have an IRS tax levy and need an immediate release IRS will generate that release of tax levy once they have your current documented financial statement and work out a tax settlement with them. We can usually get a levy release within 24 hours of receiving your documented financial statement.
If you have a back tax filing and you have little or no records, we can go ahead and reconstruct your tax returns. Being former IRS agents and managers we know the exact process.
If you will owe money as a result of your back tax filing we can work out a tax settlement.
Needless to say we are IRS audit specialist and can provide your best possible audit defense.
Call us today for free initial tax consultation and speak to a true tax professional.
Areas of Professional Tax Representation
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- Full Service Accounting Tax Firm,
- 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” Plus
- 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 Net Radio.com – Monthly Radio Show-Business Weekly
Areas of Professional Tax Practice:
- Same Day IRS & State Tax Representation
- Offers in Compromise / 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
- FBAR/FATCA Experts, Representation
Affordable IRS Help, Back Taxes Filing, Tax Levy, Settlements, Tax Audits ,- South Miami, Florida City, Richmond Heights, Leisure City, Cutler Ridge,
by Fresh Start Tax | Apr 18, 2014 | Tax Help
The Earned Income Tax Credit
The Earned Income Tax Credit (EITC) is a financial boost for people working hard to make ends meet.
Millions of workers may qualify for the first time this year due to changes in their marital, parental or financial status.
Workers, self-employed people and farmers earning $50,270 or less in 2012 should check to see if they qualify by using the EITC Assistant on IRS.gov.
To get the credit taxpayers need to file a return and specifically claim the EITC, even if they aren’t required to file.
The EITC is a refundable tax credit.
This means taxpayers may get money back, even if they have no tax withheld.
Nationwide last year, over 27 million eligible individuals and families received nearly $62 billion in EITC.
Many special rules apply to the EITC, so taxpayers should review the rules carefully, even when paying someone else to prepare their returns.
Most people who qualify for the EITC also qualify for free tax preparation through the IRS Free File program, or at a local tax help site staffed by trained community volunteers.
The EITC has no effect on welfare benefits.
In most cases, EITC payments are not used to determine eligibility for Medicaid, Supplemental Security Income (SSI), supplemental nutrition assistance program (food stamps), low-income housing or most Temporary Assistance for Needy Families (TANF) payments.
Though unemployment benefits are not earned income, they are taxable income and may affect the amount of EITC.
Credit Limits for Tax-Year 2012
The EITC varies based on income and family size.
The table showing credit amounts can be found in the Instruction booklets for Forms 1040, 1040A and 1040EZ and in Publication 596, Earned Income Credit.
This includes the expanded benefit for families with three or more children.
Those who qualify for EITC for tax year 2012, can get a credit from:
- $2 to $475 with no qualifying children
- $9 to $3,169 with one qualifying child
- $10 to $5,236 with two qualifying children
- $11 to $5,891 with three or more qualifying children
As the list shows, not everyone qualifies for the maximum credit.
Last year, the average credit was $2,200.
The EITC provides a financial boost for millions of hard-working Americans. However, even though most federal tax refunds are issued in less than 21 days, many factors can affect how long it may take for taxpayers to get their refunds.
It is also possible that a tax return could require additional review and therefore take longer to process. Taxpayers can track the status of their refund with the “Where’s My Refund?” tool available on IRS.gov after the IRS starts processing tax returns on Jan. 30.
Eligibility for EITC
Besides filing a tax return, people must meet various requirements. Some of these requirements apply to everyone.
Then there are additional requirements that apply to those who have one or more children, and another set of requirements that apply to people who don’t have a qualifying child.
Rules for every taxpayer:
- Must have earned income, such as wages, tips or the income from running a business or farm. Most other types of income, such as retirement pensions, though usually taxable, do not count as earned income.
- Must have a Social Security number that is valid for employment for self, spouse and any qualifying children.
- A person can get the credit even with a small amount of investment income, such as interest from a bank account. However, the amount of investment income is limited to $3,200.
- The filing status used must be single, head of household, married filing jointly or qualifying widow or widower. A taxpayer who files as married filing separately cannot get the credit.
- Generally, must be either a U.S. citizen or resident alien.
- Cannot be a qualifying child of another person.
- Cannot file Form 2555 or Form 2555-EZ. These forms are used to claim the foreign earned income exclusion, a tax benefit for Americans who live and work abroad.
In addition, income must be below certain limits. For tax year 2012, both earned income and adjusted gross income (AGI) must each be less than:
- $13,980 ($19,190 married filing jointly) with no qualifying children
- $36,920 ($42,130 married filing jointly) with one qualifying child
- $41,952 ($47,162 married filing jointly) with two qualifying children
- $45,060 ($50,270 married filing jointly) with three or more qualifying children
Special Rules for Families
People who claim the credit, based on having one or more qualifying children, each child must meet the relationship test, age test, residency test and joint return test.
1. Each child must meet all four tests.
2.Relationship test. The child is the taxpayer’s:
3. Son or daughter, including an adopted child or child placed for adoption
Stepchild or grandchild
Foster child placed by an authorized placement agency or court
Brother, sister, stepbrother, stepsister, half brother, half sister, or
A descendant of any of them
Age test. At the end of 2012, the child was:
Younger than the taxpayer or the taxpayer’s spouse if filing a joint return and younger than 19
Younger than the taxpayer or the taxpayer’s spouse if filing a joint return and younger than 24 and a full-time student, or
Any age if permanently and totally disabled
Residency test.
The child lived with the taxpayer or the taxpayer’s spouse if filing a joint return in the U.S. for more than half of 2012.
A qualifying child who files a joint return can only do so to claim a refund with neither the child nor child’s spouse being required to file.
More than one person cannot claim the same qualifying child to claim EITC. If a child meets the rules to be a qualifying child of more than one person, only one person can use that child to claim the EITC. Also, if the child qualifies for both a parent and another person, the other person can only get the credit by having a higher AGI than the parent.
Taxpayers without a qualifying child must meet three additional tests:
Lived in the U.S. for more than half of 2012
At the end of 2012, was at least age 25, but under age 65
Cannot qualify as the dependent of another person
Special Rule for Combat Pay. Combat pay received by members of the military serving in Afghanistan, Iraq and other combat zone localities is usually exempt from tax. But under a special rule, the taxpayer can choose to count all of this as taxable income when figuring the EITC. In many cases, making this choice enables the person to claim the credit, or if already eligible, claim a larger credit.
Avoid Errors and Seek Accuracy
Even if someone else prepares the tax return, a taxpayer is still responsible for the accuracy the return. Because the EITC is complex, many people claiming it make mistakes. Taxpayers should get help if they are not sure whether they qualify. Common errors include:
Claiming a child who is not a qualifying child.
Filing as single or head of household when actually married.
Reporting incorrect income or expense amounts.
Missing or incorrect Social Security numbers for self, spouse or qualifying children.
If a taxpayer receives an IRS letter requesting additional information, an immediate response is the best practice to avoid delaying a refund. If help is needed, the taxpayer can call the phone number shown in the letter.
The Right Credit Amount for Those Eligible
Some people who claim the EITC either figure it incorrectly or are not eligible. A deliberate error can have lasting impact.
More than half of EITC claims are prepared by tax professionals. To help ensure that only those eligible get the credit and that everyone who is eligible gets the right amount, the IRS requires paid preparers to file Form 8867 with any federal return claiming the EITC. This is the same due diligence checklist that for over a decade preparers were required to use for determining a client’s eligibility and then keep in their records.
Taxpayers should be aware that they are ultimately responsible for all information on their returns, whether choosing self-preparation, seeking volunteer tax assistance or paying a professional to claim the EITC.
Beware of scams promising to increase an EITC refund. Creating fictitious qualifying children or inflating income levels to get the maximum EITC are scams that may result in severe penalties. Among other things, a taxpayer could be banned from claiming the credit for up to 10 years.
If an EITC claim was reduced or denied after tax year 1996 for any reason other than a mathematical or clerical error, the taxpayer must attach Form 8862, Information To Claim Earned Income Credit After Disallowance, to the next return filed to claim the credit.
How to Claim EITC
Following the late tax law changes made by Congress, the IRS plans to open the 2013 tax filing season and begin processing both paper and e-filed individual income returns on Jan. 30, after updating forms and completing programming and testing of its processing systems.
The vast majority of taxpayers who qualify can begin to file EITC claims with their federal tax return starting on Jan. 30, 2013.
To claim the EITC, taxpayers need to file a Form 1040, 1040A or 1040EZ . If a taxpayer is claiming the EITC with a qualifying child, the Schedule EIC must be completed and attached to the tax return.
Schedule EIC provides the IRS with information about the qualifying children, including their names, ages, SSNs, relationship to the taxpayer and the amount of time they lived with the taxpayer during the year.
Taxpayers can find more information on claiming EITC on irs.gov/EITC. The EITC Assistant available on irs.gov/EITC or the Instructions for Form 1040, 1040A and 1040EZ can help individuals determine their eligibility.
The instructions contain a worksheet and the earned income credit table to help determine the amount of the credit.
by Fresh Start Tax | Apr 17, 2014 | Tax Help
We’ve been practicing in the state of Florida since 1982 in are A+ rated by the Better Business Bureau.
Let Former IRS agents and managers stand between you and the Internal Revenue Service.
We know the systems, the protocols, and know every avenue possible to get you IRS tax debt relief.
Not only were we former IRS agents and managers we taught IRS agents their jobs.
OWE BACK TAXES
If you owe back taxes to the Internal Revenue Service please be apprized you will have to give IRS a current financial statement including IRS form 433F, your last three months bank statements, copies of all monthly bills, and a copy of your last months pay stubs.
After IRS reviews your current financial statement, they will make a determination on how to deal with each individual that owes back taxes. The same is true if you are applying for an IRS tax settlement called an offer in compromise.
If you are going through an IRS tax audit, you can call us today to speak to a former IRS audit manager who can walk through your case and let you know of your best possible tax defenses.
If you have received an IRS bank or wage levy, once we have your current financial statement usually within 24 hours we can get you a tax levy release.
We can prepare all your back tax returns if they have not been filed with or without tax records.
We can prepare those under reconstructive methods used by Internal Revenue Service that we learned being former IRS agents
Why hire Fresh Start Tax, LLC? We tell you the truth!
1. Fresh Start Tax, LLC is a local Florida Tax Firm whose principles have been practicing Tax Law and IRS Representation in Florida since 1982.
2. On staff are Board Certified Tax Attorneys, CPAs and former IRS Agents, Managers and Tax Instructors who’ve worked at the IRS over 60 years collectively.
3. Former IRS Agents, Managers and Instructors will manage, review, represent and settle your tax case for the best possible settlement.
4. We are one of most trusted Professional Tax Firms in Florida with over 205 years of professional tax experience.
5. We have an “A” Plus Rating by the Better Business Bureau.
IRS Tax Debt Relief Help, Tax Returns, Settlements, Tax Audits,Tax Levy, Affordable, Gulf Breeze, Gulfport, Flager Beach, Ft. Walton Beach,
by Fresh Start Tax | Apr 17, 2014 | Tax Help
Former IRS agents know the system!
We are a Florida tax firm that specializes specifically in IRS and state back tax relief.
We have over 60 years of combined work experience in the local, district, and regional tax offices of Florida’s IRS offices.
We’ve practiced in the state of Florida since 1982 and we are A+ rated by the Better Business Bureau.
Our firm is comprised of tax attorneys, tax lawyers, CPAs, enrolled agents, and former IRS agents, managers and tax instructors.
Because of our streamlined processes in dealing with so many cases over the years we have kept our prices very affordable.
If you need back tax help relieve of any kind call us today for a free initial tax consultation.
Tax Returns, Back or Current
We can file for your back tax returns with or without tax records.
We simply request an income tax transcript from the IRS. We can prepare any tax return based on IRS reconstructive methods.
Stop IRS Tax Levy
We can usually stop an IRS bank or wage garnishment levy within 24 hours after receiving your documented financial statement. Please be advised that IRS will want you to file any tax returns that are not currently filed. IRS will also want copies of your pay stubs, last 3 months bank statements, and a copy of all monthly expenses.
IRS tax audits
You can have a former IRS agent or manager represent you during an IRS tax audit. We know all the protocols and settlement theories to get you the very best possible tax settlement.
If you are going to owe money as a result of an IRS tax audit we can settle your case as well.
Tax settlements/Offer in Compromise
On staff is a former IRS revenue officer who both worked and taught the offer in compromise tax settlement program with the Internal Revenue Service.
We can ensure that you will pay the lowest amount of settlement tax allowed by law.
We are a full service tax firm.
We handle anything from a simple IRS notice or letter to going to tax court.
IRS Back Tax Help Relief, Tax Returns, Stop Levy, Tax Audits, Tax Settlements *Affordable* Wildwood, Oldsmar, Windemere, Belleair, Fellsmere,
by Fresh Start Tax | Apr 16, 2014 | Tax Help
A South Florida lawyer has been criminally charged after admitting that he stopped filing taxes around 1997. You just don’t do this.
Steven E. Siff, 56, of Davie, reported himself to the Florida Bar in October 2012, one month after the IRS served a subpoena on the Miami law firm where he worked, court records show.
Steven Siff said he was suffering from a “serious depressive disorder” that overwhelmed him and he developed a gambling addiction more recently, according to documents his lawyer filed with the Florida Bar.
An attorney/lawyer since 1982, he stopped practicing in 2012 and has asked the Bar to suspend his law license.
Steven Siff was charged Monday with three counts of failing to file an income tax return.
Prosecutors said Siff earned more than $8.2 million in partnership profits between 2001 and 2011.
He was charged with failing to report gross partnership income of more than $694,000 per year between 2009 and 2011.
The maximum penalty is one year in federal prison and a $25,000 fine per count, and payment of the appropriate taxes and penalties.
