by Fresh Start Tax | Sep 23, 2013 | Tax Help
Looking for IRS Help
If you are in need for IRS tax help it only makes sense to call former IRS agents, managers and tax instructors.
We taught Tax Law at the IRS and we are aware of every tax strategy it takes to close your case with the Internal Revenue Service.
The Internal Revenue Service has exact tax protocols and settlement formulas to close cases off their enforcement and audit computers. Being former instructors and managers we know each technique that can help gain you the best advantage to resolve your case in a successful manner.
Stop the worry and pain this causes in your life and let our experience work for you. We have been relieving the stress of those looking for IRS tax help since 1982.
We are a A+ rated tax firm comprised of tax attorneys, certified public accountants and former IRS agents.
We have over 206 years in the private sector and we have over 78 years of direct work experience with the government agencies.
We are one of the most experienced tax firms that you will find.
We are A+ rated by the Better Business Bureau. You can call us for free initial tax consultation.
Our firm represents clients who have IRS notices, IRS tax audits, and IRS collection problems. We have a tax expert in every conceivable area for IRS help representation.
From IRS notices to tax court we can represent all taxpayers for affordable fees.
If you are looking to choose a tax firm for IRS resolution or for IRS tax help it is critical you check on the credentials, the experience, and asked to speak directly to the person that will be working your case. It is also important to ask the representative in like- kind cases what the expected results be.There are many firms that claim Looking for IRS Tax Help but few that have our expertise.
If a tax representative has worked hundreds and hundreds of cases they should be able to at least anticipate an outcome.
You should know that no outcome can be guaranteed.
We are a full service tax firm that has a tax specialty in, “looking for IRS tax help.”
How we Settle and Negotiate if you owe money to the with the Internal Revenue Service:
1. We immediately send a power of attorney to the IRS letting them know we are now your tax representative. You will never have to speak to the IRS. It is all on us.
2. We will make sure all your tax returns are filed and current. If your tax returns are not up to date, the IRS will refuse to work your case. This is leverage the IRS uses to get you compliance. We can pull tax transcripts, file and prepare your tax returns within days, even if you have lost your tax records. We are experts in tax reconstruction.
3. The IRS requires a current financial statement. We will secure a required 433-A,433F (IRS financial statement), verify the income and expenses and work out a settlement agreement. The IRS will require a closing settlement method for each case.
4. We review with our clients how they want to settle their case. We get them an agreement based on their current financial needs and close their case off of the IRS CADE 2 computer.
IRS Tax Settlement Agreements can be in different forms:
a. Hardship Settlements.
Cases usually go into a 3 year suspended status because of an inability to pay. This is also called currently noncollectable. Your case will go into a hardship status because you do not have the income coming in to meet your current expenses. The IRS will use the National Standards Program to assess hardship.
b. Payment Agreements.
Cases can be closed with agreed upon monthly installment payments to the IRS. We will review the different programs the IRS uses for the lowest possible amount required.
c. IRS Offer in Compromise. There are three types of OICs:
The IRS may accept an Offer in Compromise/settlement based on three grounds:
1. Doubt as to Collectibility – Doubt exists that the taxpayer could ever pay the full amount of tax liability owed within the remainder of the statutory period for collection.
2. Doubt as to Liability – A legitimate doubt exists that the assessed tax liability is correct. Possible reasons to submit a doubt as to liability offer include:
(1) the examiner made a mistake interpreting the law,
(2) the examiner failed to consider the taxpayer’s evidence or
(3) the taxpayer has new evidence.
3. Effective Tax Administration / Exceptional Circumstances.
There is no doubt that the tax is correct and there is potential to collect the full amount of the tax owed, but an exceptional circumstance exists that would allow the IRS to consider an OIC.
To be eligible for compromise on this basis, a taxpayer must demonstrate that the collection of the tax would create an economic hardship or would be unfair and inequitable.
If you are looking for IRS tax help, call former IRS agents and tax managers who know the system.
We have been part of tax resolution since 1982 and we are A+ rated by the Better Business Bureau.
If you owe money to the IRS – How they will find your assets.
The largest source for collecting information is the Internet and Google is there main search engine. You should find out yourself what they will find by simply googling yourself.
- The Internet is a powerful tool for gathering information about individuals and businesses. The information on the Internet can assist IRS employees in locating taxpayers and their assets.
- A great amount of information is available free of charge although many web sites charge a usage fee or provide information on a subscription basis. Effective use of the Internet can include the use of various websites to locate taxpayers and their assets. Taxpayers can use the same information that the IRS uses on the Internet.
- The Internal Revenue Service has current corporate contracts for locator services such as credit bureau services, and tax law research services and others.
- SPDER provides IRS employees with Internet (internal tools) – Intranet access on an as needed basis. These are protected secured sites that usually government agencies have right to tap into.
- Internet/Intranet access provides IRS employees with access to a number of computer applications including:
- The National Asset Locator tool, Accurint. This tool is used by almost all revenue officers when working field collection cases. You can subscribe to this service as well;
- The Credit Bureau Web browser, Smart.Alx;
- The tax research portal — LexisNexis this is used primarily for legal research.
by Fresh Start Tax | Sep 18, 2013 | FBAR
FBAR Compliance
The Internal Revenue Service has dedicated millions of dollars of assets to look into the practices of offshore and overseas bank accounts.
In the last three years, the Internal Revenue Service has made tremendous headway into achieving the dream of full tax compliance for Offshore and Overseas bank accounts.
The public should beware that the IRS means business.
There are millions and millions of dollars at stake. IRS will use the long arm of the law including criminal prosecution to make sure they collect all the money due the United States government.
It is in your best interest to consult a tax lawyer or tax attorney to review your individual case to make sure you achieve the best financial and tax result.
Latest News on FBAR compliance- Tax deal reached between Switzerland and the United States
A tax deal reached between Switzerland and the United States on Thursday effectively put an end to the status of the small Alpine country as a tax haven for wealthy Americans.
The agreement came after more than three years of intense discussions between the two countries, is expected to punish Swiss banks that helped wealthy Americans hide money from United States tax authorities in offshore accounts and require them to disclose information about United States account holders.
Even before the tax agreement many banks in Switzerland had started to turn away American clients, fearing at least additional administrative burdens from the United States authorities.
The deal is expected to accelerate that trend and make it even harder for American expatriates in Switzerland to find banking services.
IRS and DOJ involved
The Internal Revenue Service and the Department of Justice is very active in the offshore voluntary disclosure program simply because of the huge revenue these programs bring into the coffers of the United States government.
In the first three years of operation the program has yielded an amazing $5.5 billion in additional revenue. Estimates are that there are at least $200 billion of additional revenue that can be brought in because of tax compliance issues.From some of the sources we have heard there is another $500 billion still left on the table that IRS fully intends to collect.
In the past, the IRS has been very lenient on some taxpayers because the program was new and in the infancy stages of development and programming.
But now that the word is out , the government is taking a much more aggressive approach both financially and criminally on both financial institutions and taxpayers who are failing to comply with tax compliance issues.
If you have questions or need tax representation for FBAR tax compliance feel free to call us today and speak directly to a tax attorney, tax lawyer, CPA or all of our experts in the industry.
You can call us today for a free initial tax consultation.
Current FBAR Guidance – FBAR final regulations
On February 24, 2011, the Treasury Department published final FBAR regulations. These regulations became effective March 28, 2011, and apply to FBARs required to be filed with respect to foreign financial accounts maintained at any time during calendar year 2010, and for FBARs required to be filed with respect to all subsequent calendar years.
The FBAR form and instructions were revised to reflect the amendments made by the final regulations.
Filing deferral for certain individuals with signature authority only, effective through June 30, 2014.
Open-ended offshore voluntary disclosure program (OVDP)
The IRS began an open-ended offshore voluntary disclosure program (OVDP) in January 2012 on the heels of strong interest in the 2011 and 2009 programs. The IRS may end the 2012 program at any time in the future.
The IRS is offering people with undisclosed income from offshore accounts another opportunity to get current with their tax returns.
The 2012 OVDP has a higher penalty rate than the previous program but offers clear benefits to encourage taxpayers to disclose foreign accounts now rather than risk detection by the IRS and possible criminal prosecution.
Offshore Voluntary Disclosure Program – The Submission Requirements
As a condition to being accepted into the Offshore Voluntary Disclosure Program (OVDP), applicants/taxpayers must provide the IRS the following for the eight year voluntary disclosure period.
1. Applicants: Copies of previously filed original (and, if applicable, previously filed amended) federal income tax returns for tax years covered by the voluntary disclosure.
2. Applicants: Complete and accurate amended federal income tax returns (for individuals, Form 1040X, or original Form 1040 if delinquent) for all tax years covered by the voluntary disclosure, with applicable schedules detailing the amount and type of previously unreported income from the account or entity (e.g., Schedule B for interest and dividends, Schedule D for capital gains and losses, Schedule E for income from partnerships, S corporations, estates or trusts, and, for years after 2010, Form 8938, Statement of Specified Foreign Financial Assets).
For taxpayers who began filing timely, original, compliant returns that fully reported previously undisclosed offshore accounts or assets before making the voluntary disclosure for certain years of the offshore disclosure period, copies of the previously filed returns for the corresponding years.
3. Applicants: Copy of your completed and signed Offshore Voluntary Disclosures letter and attachment.
4. Applicants: A check made out to the U.S. Treasury. Checks should not be made out to the IRS. The reason that the Internal Revenue Service does not want checks made out to IRS is the simple reason that fraud has developed in the check opening section of the Internal Revenue Service. Some former employees have changed the words IRS to MRS and cash checks using their last names.
The check must include the amount of tax, interest, and accuracy-related penalty under IRC § 6662(a), and, if applicable, the failure to file and failure to pay penalties under IRC § 6651(a) (the suspension of interest provisions of IRC § 6404(g) do not apply to interest due in this initiative).
If you cannot pay the total amount of tax, interest, and penalties as described above, submit your proposed payment arrangement and a completed Collection Information Statement ( Form 433-A, Collection Information Statement for Wage Earners and Self-employed Individuals, or Form 433-B, Collection Information Statement for Businesses, as appropriate). We can help with the processing and delivery of the form 433 a in 433B.
You can find these forms on our website. Go to the home page and click on forms.
5. Applicants: Completed Foreign Account or Asset Statement for each previously undisclosed foreign account or asset during the voluntary disclosure period if the information requested in that statement was not already provided in your initial Offshore Voluntary Disclosures Letter.
6. Applicants: Completed penalty computation worksheet showing the applicant’s determination of the aggregate highest account balance of his/her undisclosed offshore accounts, fair market value of foreign assets, and penalty computation signed by the applicant and the applicant’s representative if the applicant is represented. In some cases penalty abatements can be requested and should call us today for details on your own individual case.
7. Applicants: Properly completed and signed agreements to extend the period of time to assess tax (including tax penalties) and to assess FBAR penalties.
8. Applicants disclosing offshore financial accounts:
Copies of filed Forms TD F 90-22.1 (FBARs) for foreign accounts maintained during calendar years covered by the voluntary disclosure.
(You should file delinquent FBARs according to the FBAR instructions and include a statement explaining that the FBARs are being filed as part of the OVDP.
FBAR Filing Compliance
Through June 30, 2013, you may file electronically or by sending paper forms to:
Department of Treasury, Post Office Box 32621, Detroit, MI 48232-0621. After June 30, 2013, you must file electronically.)
If you are unable to file electronically, you may contact FinCEN’s Regulatory Helpline at 1-800-949-2732 or (if calling from outside the United States) 1-703-905-3975 to determine possible alternatives for timely reporting.
NOTE:
Taxpayers filing FBARs electronically do not currently have the technological ability to include a statement explaining why the FBARs are filed late.
Until such time that they have the ability, it is sufficient to file the FBARs electronically, retain the statement, and submit the statement to the Service upon request.
9. Applicants disclosing offshore financial accounts:
For those applicants disclosing offshore financial accounts with an aggregate highest account balance in any year of $500,000 or more, copies of offshore financial account statements reflecting all account activity for each of the tax years covered by your voluntary disclosure.
You need to explain any differences between the amounts reported on the account statements and the tax returns.
For those applicants disclosing offshore financial accounts with an aggregate highest account balance of less than $500,000, copies of offshore financial account statements reflecting all account activity for each of the tax years covered by your voluntary disclosure must be available upon request.
10. Applicants disclosing offshore entities:
A statement identifying all offshore entities for the tax years covered by the voluntary disclosure, whether held directly or indirectly, and your ownership or control share of such entities.
11. Applicants disclosing offshore entities: When accounts or assets were held in the name of a foreign entity, complete and accurate amended (or original, if delinquent) information returns required to be filed, including, but not limited to, Forms 3520, 3520-A, 5471, 5472, 926 and 8865 for all tax years covered by the voluntary disclosure.
If the applicant is requesting that the Service waive the information reporting requirement, the applicant should submit a completed and signed Statement on Dissolved Entities.
12. Estates and certain executors or advisors.
If the applicant is a decedent’s estate, or is an individual who participated in the failure to report the foreign account, foreign asset, or foreign entity in a required gift or estate tax return, either as executor or advisor, provide complete and accurate amended estate or gift tax returns (original estate or gift tax returns, if not previously filed) for tax years covered by the voluntary disclosure necessary to correct the under reporting of assets held in or transferred through undisclosed foreign accounts or foreign entities.
13. Returns involving Passive Foreign Investment Company (PFIC) issues. A statement whether the amended returns involve PFIC issues during the tax years covered by the OVDP period, and if so, whether the applicant chooses to elect the alternative to the statutory PFIC computation that resolves PFIC issues on a basis that is consistent with the mark to market (MTM) methodology authorized in IRC § 1296 but does not require complete reconstruction of historical data.
Canadian registered retirement savings plans (RRSP)
14. Applicants with Canadian registered retirement savings plans (RRSP) or registered retirement income funds (RRIF) who wish to make late elections to defer U.S. tax on RRSP or RRIF earnings:
A statement requesting an extension of time to make an election,
Forms 8891 for all tax years and type of plan covered under the voluntary disclosure,
A dated statement signed by the taxpayer under penalties of perjury describing:
1. Events that led to the failure to make the election
2. Events that led to the discovery of the failure
If the taxpayer relied on a professional advisor, the nature of the advisor’s engagement and responsibilities.
We are a full service tax firm that specializes in FBAR, Offshore and Overseas tax compliance in all federal and state tax matters.
You can call us for a no cost initial consultation.
If you have sensitive issues and matters you wish to discuss when calling our office you should ask to speak to a tax lawyer or tax attorney so you can keep attorney-client privilege. You should never give sensitive information that may be of criminal nature to any third party. Keep your attorney client privilege.
As a personal comment and observation, the government always goes after low hanging fruit because of its effectiveness. Remember the IRS has geared up both criminal and civil divisions to go ahead and to get F bar compliance under control.
In the case of overseas, offshore, and FBAR compliance there is a six to one ratio of collection to manpower, that is for every one dollar they pay in employee they collect six dollars.
It is no wonder that the federal government absolutely love these programs. Not only that the government can boast of criminal prosecutions that are easy cases because of the paper trail these cases have.
Contact us today and speak directly to tax attorneys, tax lawyers, and former IRS agents and managers.
We are A+ rated by the Better Business Bureau and that in private practice since 1982.
Last bit of advice, find IRS before they find you.
FBAR Compliance – Miami, Tampa, Jacksonville – Attorneys, Former IRS – FBAR Experts
by Fresh Start Tax | Sep 18, 2013 | Back Taxes
Owe Back IRS Taxes Help – New Policies May Help You
The IRS is trying to help taxpayers who Owe Back Taxes, REALLY!
We are a Florida tax firm that specializes in back IRS tax help relief. Since 1982 we are one of Florida’s most trusted, experienced and affordable tax firm.
The IRS have come up with new tax policies to help taxpayers struggling with back tax debt to the agency by offering different tax solutions to help remedy there current financial situation.
You can call us today to find out if one of these new policies can directly affect and help you.
Policy Areas for Owing Back Taxes
The new IRS fresh start initiative, program is directed at penalty relief, installment agreements, federal tax liens and the offer in compromise program that own known as the tax debt settlement program with the Internal Revenue Service. These are the main areas that affect taxpayers who owe back taxes to the IRS.
The process is a very simple one.
One of our tax professionals will take a financial statement, a IRS form 433 f and within minutes we can make a determination or recommendation that best suits your financial needs. No two cases are the same.
Our tax firm has worked on thousands of cases and understand the exact protocol to completely resolve IRS cases that both satisfy the Internal Revenue Service and the financial needs of the client.
Also, there are many more options available that taxpayers are not aware of.
Just one of these programs are called currently not collectible.Basically, you are going through an economic tax hardship.
This program is based on taxpayers that are going through hardships and do not have the income to cover their current expenses.
Even though these are not promoted by the Internal Revenue Service, we have found that over 50% of the cases we close are put into the currently uncollectible file. You must realize this is a short-term solution to the problem.
Our years of experience can make this a seamless and painless process for taxpayers owing back taxes.
Our goal at fresh start tax is to have our clients go through this process worry and pain free. Our years of experience will be your best friend.
We are comprised of tax attorneys, tax lawyers, certified public accountants, former IRS agents, managers and tax instructors.
If you have a state tax problem we have former state tax auditors are hand to help resolve that Tax Debt as well.
We have over 60 years of working directly for the Internal Revenue Service.
We are A+ rated by the Better Business Bureau and have been in private practice since 1982.
The following four tips explain the expanded relief for taxpayers.
Penalty Relief Part of Owing Back Taxes to the IRS.
These initiative relieves some unemployed taxpayers from failure-to-pay penalties. Penalties are one of the biggest factors a financially distressed taxpayer faces on a tax bill.
The Fresh Start Penalty Relief Initiative gives eligible taxpayers a six-month extension to fully pay 2011 taxes.
Interest still applies on the 2011 taxes from April 17, 2012 until the tax is paid, but you won’t face failure-to-pay penalties if you pay your tax, interest and any other penalties in full by Oct. 15, 2012.
The penalty relief is available to two categories of taxpayers:
1. Wage earners who have been unemployed at least 30 consecutive days
during 2011 or in 2012 up to this year’s April 17 tax deadline,
2. Self-employed individuals who experienced a 25 percent or greater
reduction in business income in 2011 due to the economy.
To qualify for this penalty relief, your adjusted gross income must not exceed $200,000 if married filing jointly or $100,000 if your filing status is single, married filing separately, head of household, or qualifying widower.
Your 2011 balance due can not exceed $50,000.
Taxpayers who qualify need to complete a new Form 1127A to request the 2011 penalty relief.
Installment agreements.
An installment agreement is a payment option for those who cannot pay their entire tax bill by the due date.
The Fresh Start provisions give more taxpayers the ability to use streamlined installment agreements to catch up on back taxes and also more time to pay.
The new threshold for requesting an installment agreement has been raised from $25,000 to $50,000. This option requires limited financial information, meaning far less burden to the taxpayer.
The maximum term for streamlined installment agreements has been raised to six years from the current five-year maximum.
If your debt is more than $50,000, you’ll still need to supply the IRS with a Collection Information Statement (Form 433-A or Form 433-F). You also can pay your balance down to $50,000 or less to qualify for this payment option. You absolutely must pay the balance down under $50,000.
With an installment ,payment agreement, you’ll pay less in penalties, but interest continues to accrue on the outstanding balance. In order to qualify for the new expanded streamlined installment agreement, you must agree to monthly direct debit payments.
The Offer in Compromise or Tax Debt Settlements
Under the first round of Fresh Start in 2011, the IRS expanded the Offer in Compromise program to cover a larger group of struggling taxpayers.
An Offer in Compromise is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed.
The IRS recognizes many taxpayers are still struggling to pay their bills so the agency has been working on more common-sense changes to the OIC program to more closely reflect real-world situations.
Generally, an offer will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through a payment agreement. The IRS looks at the taxpayer’s income and assets to make a determination regarding the taxpayer’s ability to pay.
It is important to remember that no two cases are the same.
Until a tax firm looks at your individual financial statement, they cannot value or judge the case that you have.
Before signing a retainer agreement with any firm check out their Better Business Bureau rating, their credentials, and asked to speak to the person that will be directly handling your case.
Call us today and you will have your option to speak to a tax attorney, tax lawyer, certified public accountant or former IRS agent.
We will fit you with the person on our staff who has the most experience in dealing with your individual tax situation. So, if you owe back taxes to the IRS and need immediate tax help call us today for free initial tax consultation.
Owe Back IRS Taxes Help – New Policies May Help You – Jacksonville, Tampa, St. Pete, Miami – All FLORIDA
by Fresh Start Tax | Sep 18, 2013 | Back Taxes
Owe Back Taxes – New IRS Tax Policies on Tax Debt Resolutions
The Internal Revenue Service has come up with new tax policies to help taxpayers struggling with back tax debt different solutions to help remedy there financial situation
The new IRS fresh start initiative is directed at penalty relief, installment agreements, federal tax liens and the offer in compromise program that own known as the tax debt settlement program with the Internal Revenue Service.
If you need help because you owe back taxes to the federal or state government, call us today and we can explain the new tax policies to you and you can find out how you can make a payment arrangements, be placed in economic tax hardship or possible settle the case with an offer in compromise.
The process is simple.
We take a financial statement, a IRS form 433f and within minutes we can make a determination or recommendation that best suits your financial needs. We have worked thousands of cases and understand the exact protocol to completely resolve IRS cases that both satisfy the Internal Revenue Service and the financial needs of the client.
The Internal Revenue Service has made owing back taxes a much easier process, this is been a very long time coming but we have helped many taxpayers through this process. Our years of experience can make this a seamless and painless process for taxpayers owing back taxes.
Our goal at fresh start tax is to have our clients go through this process worry and pain free.
We are comprised of tax attorneys, tax lawyers, certified public accountants, former IRS agents, managers and tax instructors.
We have over 60 years of working directly for the Internal Revenue Service.
We are A+ rated by the Better Business Bureau and have been in private practice since 1982.
The following four tips explain the expanded relief for taxpayers.
Penalty Relief Part.
These initiative relieves some unemployed taxpayers from failure-to-pay penalties. Penalties are one of the biggest factors a financially distressed taxpayer faces on a tax bill. The Fresh Start Penalty Relief Initiative gives eligible taxpayers a six-month extension to fully pay 2011 taxes.
Interest still applies on the 2011 taxes from April 17, 2012 until the tax is paid, but you won’t face failure-to-pay penalties if you pay your tax, interest and any other penalties in full by Oct. 15, 2012.
The penalty relief is available to two categories of taxpayers:
1. Wage earners who have been unemployed at least 30 consecutive days
during 2011 or in 2012 up to this year’s April 17 tax deadline,
2. Self-employed individuals who experienced a 25 percent or greater
reduction in business income in 2011 due to the economy.
To qualify for this penalty relief, your adjusted gross income must not exceed $200,000 if married filing jointly or $100,000 if your filing status is single, married filing separately, head of household, or qualifying widower.
Your 2011 balance due can not exceed $50,000.
Taxpayers who qualify need to complete a new Form 1127A to request the 2011 penalty relief.
Installment agreements.
An installment agreement is a payment option for those who cannot pay their entire tax bill by the due date.
The Fresh Start provisions give more taxpayers the ability to use streamlined installment agreements to catch up on back taxes and also more time to pay.
The new threshold for requesting an installment agreement has been raised from $25,000 to $50,000. This option requires limited financial information, meaning far less burden to the taxpayer.
The maximum term for streamlined installment agreements has been raised to six years from the current five-year maximum.
If your debt is more than $50,000, you’ll still need to supply the IRS with a Collection Information Statement (Form 433-A or Form 433-F). You also can pay your balance down to $50,000 or less to qualify for this payment option.
With an installment agreement, you’ll pay less in penalties, but interest continues to accrue on the outstanding balance. In order to qualify for the new expanded streamlined installment agreement, you must agree to monthly direct debit payments.
Offer in Compromise.
Under the first round of Fresh Start in 2011, the IRS expanded the Offer in Compromise (OIC) program to cover a larger group of struggling taxpayers. An Offer in Compromise is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed.
The IRS recognizes many taxpayers are still struggling to pay their bills so the agency has been working on more common-sense changes to the OIC program to more closely reflect real-world situations.
Generally, an offer will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through a payment agreement. The IRS looks at the taxpayer’s income and assets to make a determination regarding the taxpayer’s ability to pay.
It is important to remember that no two cases are the same.
Until a tax firm looks at your individual financial statement, they cannot value or judge the case that you have.
Before signing a retainer agreement with any firm check out their Better Business Bureau rating, their credentials, and asked to speak to the person that will be directly handling your case.
It is in your best interest to make sure they have a true tax professionals on staff.
Owe Back Taxes – New IRS Tax Policies to Help Taxpayers
by Fresh Start Tax | Sep 17, 2013 | Tax Levy and Wage Garnishments
If you have just received an IRS notice of levy on salary, wages, or a bank account contact us today and we can stop this IRS seizure action immediately.
We are a local Florida firm and have been in practice in Florida since 1982. We are A+ rated by the Better Business Bureau.
The very best way to combat the IRS is with former IRS agents and managers who know the system. While former employees at Internal Revenue Service we used to issue these notices of levy so it only makes sense that were experts on knowing how to get them released.
We know the exact protocol the exact format in the exact system to stop IRS immediately.
We not only will get IRS to stop your levy on salary, wages or bank accounts we will also close and settle your case off the IRS enforcement computer.
We have over 60 years of combined work experience in the local, district, and regional tax offices of the Internal Revenue Service.
While employed at IRS we taught tax law to new agents. We can go ahead and stop levies on salary, wages and bank account levies quickly and for affordable pricing.
It is a very simple process to stop in Internal Revenue Service notice of levy.
Two points of interest.
Bank Levy – if you have received a IRS bank levy, please be advised that your money or funds are frozen in that bank account for a period of 21 days.
The Internal Revenue Service gives you approximately 3 weeks to call them and give them the necessary information so they can release the levy and work out a temporary settlement with them. You may continue to use that bank account without fear of IRS taking that money. The only money that is frozen is the money that was in the account the day the bank received the levy.
Wage, Salary Levy – Unlike the bank levy, a wage or salary levy is an immediate seizure of your wages. It is a continuous levy and will occur every time payday comes.
To get your bank levy or your wage levy released you will need to submit fully documented financial statement to the Internal Revenue Service so they can make a determination on your case. We can make this process extremely simple.
How we can immediately get Notices of Bank Levy and Wage Garnishment Released.
As former IRS Agents, Managers and Instructors we have issued thousands of IRS Wage/Garnishment and Bank Levies.We know exactly how to quickly get them released.
1. We immediately send a power of attorney to the IRS letting them know we are now your representative. You will never have to speak to them and all correspondence and communication goes through our office.
2. We will make sure all your tax returns are filed and current. If your tax returns are not up to date, the IRS will refuse to work your case. This is leverage that they use to get you compliant. We can pull tax transcripts, file and prepare your tax returns within days, even if you have lost your tax records. As a reminder you should make sure that you are having enough money withheld out of your current paychecks to make sure you will not owe tax in the future
3. The IRS requires a current financial statement. We will secure a required 433-F (IRS financial statement), verify the income and expenses and work out a settlement agreement. The IRS will require a closing settlement method for each case.
4. We review with our clients how they want to settle their case. We get them an agreement based on their current financial needs.
IRS Tax Settlement Agreements can be in different forms:
a. Hardship Settlements.
Cases usually go into a 3 year suspended status because of an inability to pay. This is also called currently noncollectable.
Your case will go into a hardship status because you do not have the income coming in to meet your current expenses. The IRS will use the National Standards Program to assess hardship.
b. Payment Agreements.
Cases can be closed with agreed upon monthly installment payments to the IRS. We will review the different programs the IRS uses for the lowest possible amount required.
c. Offer in Compromise.
There are three types of OICs:
The IRS may accept an Offer in Compromise based on 3 three grounds:
1. Doubt as to Collectibility – Doubt exists that the taxpayer could ever pay the full amount of tax liability owed within the remainder of the statutory period for collection.
2. Doubt as to Liability – A legitimate doubt exists that the assessed tax liability is correct. Possible reasons to submit a doubt as to liability offer include:
(1) the examiner made a mistake interpreting the law,
(2) the examiner failed to consider the taxpayer’s evidence or
(3) the taxpayer has new evidence.
3. Effective Tax Administration/ Exceptional Circumstances – There is no doubt that the tax is correct and there is potential to collect the full amount of the tax owed, but an exceptional circumstance exists that would allow the IRS to consider an OIC. To be eligible for compromise on this basis, a taxpayer must demonstrate that the collection of the tax would create an economic hardship or would be unfair and inequitable.
Call us today and you can speak directly what tax professional at Fresh Start Tax. We are A+ rated and have been in practice since 1982.
STOP IRS Levy = Salary, Wages, Bank Accounts – Jacksonville, Tampa, St. Pete, Orlando, Miami – Florida
