by Fresh Start Tax | Jun 11, 2013 | Offer in Compromise
Reduce Your IRS Tax Debt
As a result of the new IRS program called the Fresh Start or the Fresh Start Initiative settling your tax debt with IRS is been made much easier.
The latest statistics are out and showed that over 38% of all taxpayers who submit an IRS tax debt settlement or offer in compromise get their settlements accepted.
These numbers are at an all-time high. In former years about 18% of all offers in compromise were accepted.
Last year alone 58,000 taxpayers submitted offers in compromise to reduce their IRS tax debt.
You should know I am a former IRS agent and worked the offer in compromise program or the tax debt settlement program in the South Florida IRS offices.
I personally have worked thousands of cases since 1982 and am a true expert to help reduce your IRS tax debt.
You should contact us today for a free initial consultation and you can speak directly to tax attorneys, tax lawyers, certified public accountants, enrolled agents, and former IRS agents, managers and tax instructors.
We have practiced right here in South Florida since 1982 and we are A+ rated by the Better Business Bureau.
We are the affordable, friendly, and fast professional tax firm that has over 206 years a professional tax experience
The New Fresh Start Program by the IRS to Reduce your Tax Debt
The IRS has expanded its “Fresh Start” initiative by offering more flexible terms to its Offer-in-Compromise Program. These newest rules enable some financially distressed taxpayers to clear up their tax problems even quicker.
An offer-in-compromise (OIC) is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed.
An OIC is generally not accepted if the IRS believes 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 determine the reasonable collection potential.
This expansion of the “Fresh Start” initiative focuses on the financial analysis used to determine which taxpayers qualify for an OIC.
Here are the OIC changes that have allowed over 20,000 taxpayers to settle or reduce their tax debt
Revising the calculation for a taxpayer’s future income.
The IRS will now look at only one year (instead of four years) of future income for offers paid in five or fewer months; and two years (instead of five years) of future income for offers paid in six to 24 months.
All OICs must be paid in full within 24 months of the date the offer is accepted.
Allowing taxpayers to repay their student loans Minimum payments on student loans guaranteed by the federal government will be allowed for the taxpayer’s post-high school education. Proof of payment must be provided.
Allowing taxpayers to pay state and local delinquent taxes.
When a taxpayer owes delinquent federal and state or local taxes, and does not have the ability to fully pay the liabilities, monthly payments to state taxing authorities may be allowed in certain circumstances.
Expanding the Allowable Living Expense allowance.
Standard allowances incorporate average expenses for basic necessities for citizens in similar geographic areas. These standards are used when evaluating installment agreement and offer-in-compromise requests.
The National Standard miscellaneous allowance has been expanded.
Taxpayers can use the allowance to cover expenses such as credit card payments and bank fees and charges.
Before you submit an offer in compromise to settle or reduce your tax debt you should use the pre-qualifier tool on our website.
You can save yourself a lot of time and money.
Do not give your money to any tax firm or tax professional and less you know you are a qualified and suitable candidate for an offer in compromise.
It should be noted that not all taxpayers qualify to reduce their IRS tax debt using the tool of the offer in compromise.
Taxpayers can look at other possibilities such as the abatement of penalties and interest to help reduce the debt.
Contact us today for a free initial tax consultation and find out the different strategies available to reduce your IRS tax debt.
We are the friendly and affordable tax firm located right here in South Florida.
We cover Fort Lauderdale, Miami, and all of the Palm Beaches including Key West.
Reduce Your IRS Tax Debt – Affordable, Former IRS Settlement Agent – Ft.Lauderdale, Miami, Palm Beaches
by Fresh Start Tax | Jun 11, 2013 | Tax Levy and Wage Garnishments
STOP IRS Wage Garnishment – NOW
As soon as you give IRS a completed and documented form 433-F, IRS will make arrangements to send over to your employer in IRS wage garnishment release.
Contact us today and you can stop start the process of stopping your IRS wage garnishment right now.
We are in IRS tax resolution firm that has a specialty in IRS tax representation.
We are comprised of tax attorneys, certified public accountants, enrolled agents, and former IRS agents, managers and tax instructors who have over 60 years of working directly for the Internal Revenue Service the local South Florida IRS offices.
While at Internal Revenue Service we taught tax law,
We have been in private practice right here in South Florida since 1982 and we are A+ rated by the Better Business Bureau.
The process to get your money back from IRS from a IRS Wage Garnishment
If you have received a notice of levy on your payroll or wages it is because you did not respond to final notices that IRS sent to you at your last known address. IRS must send their final notice to your last known address found on your last filed tax return.
As a result, the Internal Revenue Service systemically sends out computer generated levies from their CADE2 to computer. The IRS levy sources are found on your last couple of your tax returns and from third-party reporting sources
To get your wage garnishment levy released, IRS will need a current financial statement.
That financial statement will be on form 433-F which you can find directly on our website. Just go to IRS forms on our website and simply download the form and complete it.
You will need to fill out that 433-F along with all the documentation to verify all the numbers that you put down on the form along with the last 3 to 6 months worth of bank statements, copy pay stubs, and a verification of all your monthly bills.
IRS completes a carefully review the financial statement so you want to make sure you are accurate and honest.
Once IRS reviews your current financial statement they will begin the process to release your IRS Wage Garnishment levy.
IRS will compare your financial statement to the national, regional and geographical standards.
It is very important for the taxpayer /client to understand the national standards tests. You can also find these national, regional and geographical standards on our website as well.
IRS will then provide the information to you into which closing category as a result of the financial review.
As a general rule, IRS will close your case and either place you into:
- an economic tax hardship which means you are currently noncollectable,
- they will enter you into an installment or monthly payment agreement,
- or indicate to you that you are a suitable candidate for IRS tax debt settlement otherwise called an offer in compromise.
- Once IRS indicates to the closing settlement method , t hey will immediately release your wage garnishment tax levy.
IRS Rules about IRS Wage Garnishment Tax Levy
An individual’s wages, salary, payroll and other income can be levied.
Wages, salary, and other income include payment for personal services in a work relationship.
Sometimes an employer threatens to fire an employee to avoid handling a levy. This might be a violation of 15 USC 1674.
If the employer fires the taxpayer because of this, the employer might be fined not more than $1000 or imprisoned for not more than one year, or both.
You should refer to the taxpayer to the Wage and Hour Division of the Department of Labor (DOL). DOL, not IRS, must decide if the employer violated the law.
The Really Bad News Continuous Effect of Levy on Salary and Wages
Unlike other IRS tax levies, a levy on a taxpayer’s wages ( wage garnishments) and salary has a continuous effect. this means it never stops until the IRS issue your employer or release of the payroll garnishment levy.
It attaches to all future payments, until the levy is released. It is critical to start the process of a wage garnishment release as soon as it is received by your employer. The employer is not allowed to give you any money or funds until the payroll department gets a release.
Wages and salary include fees, bonuses, commissions, and similar items. All other levies only attach to property and rights to property that exist when the levy is served.
Bank Account Levies
If a bank account is levied, it only reaches money in the account when the levy is served. It does not reach money deposited later.
So the payroll garnishment levy is a much more punishing garnishment.
When other income is levied, the levy reaches payment the taxpayer has a fixed and determinable right to.
If the taxpayer’s right to that payment is not dependent upon the performance of future services, then the levy will reach the future payments as well.
Exempt Amounts from the Wage Garnishment Levy
Part of the individual taxpayer’s wages, salary, (including fees, bonuses, commissions and similar items) and other income, as well as retirement and benefit income, is exempt from levy.
The weekly exempt amount is:
The total of the taxpayer’s standard deduction and the amount deductible for exemptions on an income tax return for the year the levy is served.
Then, this total is divided by 52.
Income that is not paid weekly is prorated, so the same amount is exempt.
In addition, the amount the taxpayer needs to pay court ordered child support is exempt.
Note:
The support order can originate from a court or administrative process under the laws and procedures of a state, territory or possession.
If you need an immediate release of a IRS Wage Garnishment levy contact us today.
We are A+ rated by the Better Business Bureau and have been in practice right here in South Florida since 1982.
We are the fast, friendly, and affordable tax firm comprised of local South Florida tax professionals.
Call us today for a free initial tax consultation and start the process to get your money back right now.
Stop IRS Wage Garnishment Levy – Get your Money Back – Ft.Lauderdale, Miami, Attorneys, Former IRS
by Fresh Start Tax | Jun 11, 2013 | Tax Levy and Wage Garnishments
Payroll Garnishment Levy – Get your Money Back Now, Former IRS Agents Who Know the System, Find Out Now, Free Consults
If the Internal Revenue Service has just levied your paycheck call us today to get your money back and your case settled.
We are comprised of tax attorneys, tax lawyers, certified public accountants, and former IRS agents, managers, and tax instructors who worked in the local South Florida IRS offices for over 60 years.
We know the exact system on how to get your money back from the Internal Revenue Service, get your levy released and worked out a tax settlement.
The process to get your money back from IRS
If you have received a notice of levy on your payroll or wages it is because you did not respond to final notices that IRS sent to you at your last known address.
As a result, the Internal Revenue Service systemically sends out computer generated levies from their CADE2 to computer.
To get your payroll levy released, IRS will need a current financial statement.
That financial statement will be on form 433-F which you can find directly on our website.
You will need to fill out that 433-F along with all the documentation to verify all the numbers that you put down on the form along with the last 3 to 6 months worth of bank statements, copy pay stubs, and a verification of all your monthly bills.
Once IRS reviews your current financial statement they will begin the process to release your payroll levy.
IRS will compare your financial statement to the national, regional and geographical standards. It is very important for the taxpayer /client to understand the national standards tests.
IRS will then provide the information to you into which closing category as a result of the financial review.
As a general rule, IRS will either place you into a
- an economic tax hardship which means you are currently noncollectable,
- they will enter you into an installment or monthly payment agreement,
- or indicate to you that you are a suitable candidate for IRS tax debt settlement otherwise called an offer in compromise.
- Once IRS indicates to the closing settlement method , t hey will immediately release your payroll garnishment tax levy.
IRS Rules about Payroll Garnishment Tax Levy
An individual’s wages, salary, payroll and other income can be levied.
Wages, salary, and other income include payment for personal services in a work relationship.
Sometimes an employer threatens to fire an employee to avoid handling a levy. This might be a violation of 15 USC 1674.
If the employer fires the taxpayer because of this, the employer might be fined not more than $1000 or imprisoned for not more than one year, or both.
You should refer to the taxpayer to the Wage and Hour Division of the Department of Labor (DOL). DOL, not IRS, must decide if the employer violated the law.
The Really Bad News Continuous Effect of Levy on Salary and Wages
Unlike other IRS tax levies, a levy on a taxpayer’s wages and salary has a continuous effect. this means it never stops until the IRS issue your employer or release of the payroll garnishment levy.
It attaches to all future payments, until the levy is released.
Wages and salary include fees, bonuses, commissions, and similar items. All other levies only attach to property and rights to property that exist when the levy is served.
If a bank account is levied, it only reaches money in the account when the levy is served. It does not reach money deposited later. So the payroll garnishment levy is a much more punishing garnishment.
When other income is levied, the levy reaches payment the taxpayer has a fixed and determinable right to.
If the taxpayer’s right to that payment is not dependent upon the performance of future services, then the levy will reach the future payments as well.
Exempt Amounts
Part of the individual taxpayer’s wages, salary, (including fees, bonuses, commissions and similar items) and other income, as well as retirement and benefit income, is exempt from levy.
The weekly exempt amount is:
The total of the taxpayer’s standard deduction and the amount deductible for exemptions on an income tax return for the year the levy is served.
Then, this total is divided by 52.
Income that is not paid weekly is prorated, so the same amount is exempt.
In addition, the amount the taxpayer needs to pay court ordered child support is exempt.
Note:
The support order can originate from a court or administrative process under the laws and procedures of a state, territory or possession.
If you need an immediate release of a payroll garnishment levy contact us today.
We are A+ rated by the Better Business Bureau and have been in practice right here in South Florida since 1982.
We are the fast, friendly, and affordable tax firm comprised of local South Florida tax professionals.
Payroll Garnishment Levy – Get your Money Back – Ft.Lauderdale, Miami, Attorneys, Former IRS
by Fresh Start Tax | Jun 11, 2013 | Sales Tax
Ft.Lauderdale – Affordable Sales Tax Attorneys, CPA’s
We are a local South Florida tax firm that specializes in IRS and state tax audits.
We are affordable tax firm that flat fee bills.
We are comprised of tax attorneys, certified public accountants, enrolled agents, and former IRS managers and instructors.
We do not bill on an hourly basis and we let you know all costs before we get involved in any sales tax case or investigation.
You can come in for free initial consultation and we will completely review your sales tax records and give you an free assessment of what lies ahead.
We have been in private practice in South Florida since 1982 and we are A+ rated by the Better Business Bureau and are without complaint.
We have 206 years of professional tax experience and over 60 years working as former government agents with the Internal Revenue Service and crossed reference investigations with the state of Florida, Department of revenue.
There are many excellent tax firms in the South Florida area, please make sure you check us out before making a determination on who you will hire to defend your sales tax audit.
Why was my Sales Tax selected for audit?
When returns are filed, they are compared against “norms” for similar returns. The “norms” are developed from audits of a statistically valid random sample of returns.
The Sales Tax return is next reviewed by an experienced auditor.
At this point, the return may be accepted as filed, or if based on the auditor’s experience questionable items are noted, the agent will identify the items noted and the return is forwarded for assignment to an examining group.
Upon assignment to a group, the return is reviewed by the manager.
Industry Specific – Items considered in assigning a case are: factors particular to the area such as issues pertaining to construction, farming, timber industry, etc. that have specific factors and rules that apply.
Based on the review, the manager can accept the return or assign the return to an auditor. The assigned auditor again reviews the return for questionable items and either accepts it as filed or contacts the taxpayer to schedule an appointment.
Sales tax returns can also be selected for a tax audit due to non-filing issues.
The Florida Department of revenue systemically monitors corporations and taxpayers as well as certain industries and places in their computers audit triggers.
Contact us today for free initial tax consultation.
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 Tax Representation
Offers in Compromise or 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
by Fresh Start Tax | Jun 11, 2013 | Tax Levy and Wage Garnishments
Tax Levy IRS – Get your money Back & Case Settled
Call us today to get your money back from the Internal Revenue Service and settle your case at the same time.
Being former IRS agents and managers who worked in the local South Florida offices we know how to get your IRS tax levy released and get your case settled all at the same time.
We worked as revenue officers, revenue agents and taught tax law at the Internal Revenue Service.
We also worked as managers and supervisors. We know how to get your IRS tax levy released ASAP.
We know all the formulas and the tax protocols to get your case closed and your levy released or removed.
We have been in private practice in South Florida since 1982 and we are A+ rated by the Better Business Bureau.
How to get your Money Back and your Case Settled
IRS has a very specific process to get your tax levy released.
IRS will require a current financial statement which is form 433-F and that financial statement can be found on our website.
IRS will want a completely documented financial statement along with copies of your pay stubs and expenses to verify the financial statement.
Once IRS reviews the financial statement they will compare that against the national, regional, and local expenses. IRS wants to make sure a taxpayer is living within their means and the allowable budget that meets the standards of the Internal Revenue Service.
IRS will then suggest a closing method to the taxpayer.
As a general rule the closing method used by IRS are found below.
Based on your current financial statement, the IRS would either put your case into a:
- enter you into an installment or monthly payment agreement,
- or recommend that you are a suitable candidate for offer in compromise.
Once you agree to one of these closing methods the IRS will then give you an immediate release of the tax Levy.
This process can take less than 72 hours.
As a matter of fact once you give IRS a current financial statement with all your documentation you usually can get your levy release that day.
Can you be fired from your job because of an IRS levy?
Sometimes an employer threatens to fire an employee to avoid handling a levy.
This might be a violation of 15 USC 1674.
If the employer fires the taxpayer because of this, the employer might be fined not more than $1000 or imprisoned for not more than one year, or both.
Refer the taxpayer to the Wage and Hour Division of the Department of Labor (DOL). DOL, not IRS, must decide if the employer violated the law.
A Wage Levy has a Continuous Effect on Salary and Wages
Unlike other levies, a levy on a taxpayer’s wages and salary has a continuous effect. It attaches to future payments, until the levy is released.
Wages and salary include fees, bonuses, commissions, and similar items. All other levies only attach to property and rights to property that exist when the levy is served.
Example:
If a bank account is levied, it only reaches money in the account when the levy is served. It does not reach money deposited later.
When other income is levied, the levy reaches payment the taxpayer has a fixed and determinable right to. If the taxpayer’s right to that payment is not dependent upon the performance of future services, then the levy will reach the future payments as well.
A Form 668-A is issued to levy an author’s royalties.
The author has a fixed and determinable right to royalties for books that have already been published. The levy reaches royalties for sales of those books in the future. The levy does not reach royalties for books that are written and published later.
A new levy must be served to take those royalties.
A note of importance, if the internal revenue service has issued you a form 433-a those are one time levies only. To seize or garnish monies again they must continue to re-issue 433-A’s.
A 433-a is a one-time levy and a 668-W is a continuous levy.
A Form 668-W is issued to levy a taxpayer’s retirement income. The taxpayer has a fixed right to the future payments; therefore, the levy remains in effect until it is released.
Part of the individual taxpayer’s wages, salary, (including fees, bonuses, commissions and similar items) and other income, as well as retirement and benefit income, is exempt from levy.
The weekly exempt amount from a levy is:
The total of the taxpayer’s standard deduction and the amount deductible for exemptions on an income tax return for the year the levy is served.
Then, this total is divided by 52.
Income that is not paid weekly is prorated, so the same amount is exempt.
In addition, the amount the taxpayer needs to pay court ordered child support is exempt.
The support order can originate from a court or administrative process under the laws and procedures of a state, territory or possession.
Tax Levy IRS – Get your money Back & Case Settled Affordable – Miami, Ft.Lauderdale – Former IRS Managers, Agents
