by Fresh Start Tax | Jun 5, 2013 | Offer in Compromise
Local Offer in Compromise Specialist 954-492-0088, I am a former IRS agent and teaching instructor of the offer in compromise program. I know the system inside and out.
Have former IRS Agents, Managers and Instructors who taught the Offer in Compromise Program at the IRS work and settle your tax case.
We worked out of the local South Florida IRS Offices for a combined 60 years.
We know all the settlement and tax strategies that IRS uses because we taught the program in South Florida.
We are one of the oldest, most trusted and experience professional tax firms in South Florida.
Call us for a free tax consult and find out the truth!
Under the current Fresh Start initiative the IRS has incorporated its Streamlined Offer in Compromise process into the overall investigation of offers and has added flexibility to the financial analysis used in evaluating offers.
The Streamlined Offer in Compromise process includes:
- Fewer requests for additional financial information
- If necessary, requests for additional information by phone, not by mail
- Greater flexibility when considering your ability to pay.
The changes to financial analysis add more flexibility to the OIC process including:
- Greater flexibility in determining the equity in assets
- Greater flexibility in determining the allowable living expenses
- Reducing the amount of future income included in the offer
- Decreased time- frame to complete the OIC payment process to two years
A Nationwide Alert by the IRS
The IRS also has issued a nationwide alert. Hire former IRS Agents who worked the program while employed at the IRS. Fresh Start Tax is a local Ft. Lauderdale company that has the highest BBB rating available.
Our staff consists of 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 in are A+ rated by the Better Business Bureau and are without complaint.
As a result of our years experience at the Internal Revenue Service and in private practice and we know all the protocols, IRS procedures, and all the IRS settlement formulas to save you pennies on a dollar if you are a suitable and qualified candidate for an offer in compromise.
The Internal Revenue Service issued a consumer alert advising taxpayers to beware of promoters’ claims that tax debts can be settled for “pennies on the dollar” through the Offer in Compromise Program.
Such promoters make money by inappropriately advising indebted taxpayers to file an application for an offer in compromise with the IRS, promising unrealistic results, even when the taxpayers do not meet the requirements of the program. This bad advice costs taxpayers money and time.
Many of these tax resolution companies are run by sales people and not former IRS Agents, CPA’S, or Tax Attorneys.
Fresh Start Tax and the IRS has urged taxpayers to refer promoters who are using the program inappropriately to the reported to
IRS’s Office of Professional Responsibility for civil sanctions by sending their complaint to: Office of Professional Responsibility , Internal Revenue Service, 1111 Constitution Avenue N.W., Washington, DC 20224.
What is an Offer in Compromise or a IRS Tax Debt Settlement
An offer in compromise is an agreement between a taxpayer and the IRS that resolves the taxpayer’s tax debt. The IRS has the authority to settle, or “compromise,” federal tax liabilities by accepting less than full payment under certain circumstances.
Remarks from the IRS Commissioner
“This program serves an important purpose. But we do warn taxpayers to watch out for unscrupulous promoters charging excessive fees to taxpayers who have no chance of meeting the program’s requirements,” said IRS Commissioner Mark W. Everson. “Taxpayers should not be duped by high-priced promises.”
Hire Local Professionals from Ft.Lauderdale
Fresh Start Tax has seen countless number clients who have contacted them after paying of thousands of dollars to fraudulent companies.
Although there are some tax practitioners who promote dubious schemes, most practitioners give quality service to their clients.
Taxpayers who need a qualified tax professional to prepare and submit their offer in compromise application form may contact state or local tax professional associations to find enrolled agents, CPA”s or attorneys in their geographic area with the education and experience to assist them. you should hire local so you can actual met the firm and the individual responsible for working your tax case.
When to file for an Offer in Compromise
An offer in compromise may be considered only after other payment options have been exhausted. If taxpayers are unable to pay their taxes in full, there are other payment options, such as monthly installment agreements, that must be explored before an offer in compromise can be submitted.
Taxpayers who are unable to pay their taxes in full and who have explored the various options should use the checklist in the Form 656 package to determine if they are eligible for an offer in compromise.
IRS Fees to file Offers in Compromise
Some taxpayers may be exempt from the $150 application fee depending on income or whether the offer in compromise is based solely on doubt as to tax liability. Taxpayers who claim the income exception must certify their eligibility by completing Form 656-A, Income Certification for Offer in Compromise Application Fee.
This certification should be attached to Form 656 in lieu of the $150 fee at the time of submission. The Form 656 package contains a worksheet designed to assist taxpayers in determining whether they qualify for the income exception. The income exception applies only to individuals.
Fresh Start Tax has published National Press releases on the subject.
Ft.Lauderdale – Offer in Compromise, Affordable Former IRS Settlement Agent – OIC Specialists
by Fresh Start Tax | Jun 5, 2013 | Offer in Compromise
IRS Tax Settlement
The Internal Revenue Service is accepting 38 percent more offers in compromise than it did a year ago.
There is a major shift in the IRS tax settlement policy due to the shortage of tax revenue in the Treasury.
It used to be almost impossible to get a offer in compromise or an IRS tax settlement through Internal Revenue Service due to a lot of technical minutia and the attitude of IRS agents.
In years past, the IRS agents would be thinking, how do we reject this offer in compromise simply because of all the work it requires to process an accepted offer and compromise. That’s all changed. I should know, I was a former IRS agent, teaching instructor and a revenue officer that worked the offer in compromise or IRS tax settlement cases.
That is all changed due to the current administration and the new fresh start program that was initiated by the Internal Revenue Service.
We are a local Ft.Lauderdale Tax Firm
We are all local Fort Lauderdale tax firm that specializes in IRS tax settlements known as the offer in compromise.
We’ve been practicing right here in South Florida since 1982 and are A+ rated by the Better Business Bureau.
Before you file an offer to compromise it is best to go through the pre-qualifier program to make sure your suitable candidate for an offer compromise and to assure that you will settle for the lowest dollars possible.
Contact us today for a free initial tax consultation and let her years of experience work for you.
The New IRS Fresh Start Program
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 Offer in Compromise/IRS tax settlements changes:
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 Standards.
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.
Contact us today to learn more about the IRS tax settlement program that may save you thousands of dollars. Will conduct a free initial tax consultation to find out if you are a suitable candidate for an IRS tax debt settlement.
Ft.Lauderdale – IRS Tax Settlements – Affordable Former IRS Settlement Agents
by Fresh Start Tax | Jun 5, 2013 | IRS Tax Audit
What are your Chances of a IRS Tax Audit
If you have received an IRS notice of tax audit or you are going through a current tax audit or may even have appeal issues contact us today for a free initial tax consultation and speak directly a former IRS agents, managers, and tax instructors.
As former IRS agents and managers we conducted our fair share of IRS tax audits right now the local South Florida offices.
We know all the protocols and settlement technique formulas to settle your case and limit your exposure with the Internal Revenue Service
Many taxpayers and clients ask us a common question in that is” what are your chances for an IRS tax audit”?
Here’s a breakdown by income of the percentage of individual returns audited by the IRS in 2011:
Adjusted Gross Income Audit Rate
- No adjusted gross income 3.42%
- $500,000-$1,000,000 5.32%
- 1,000,000-$5,000,000 5.38%
- $5,000,000-$10,000,000 20.75%
Contact us today for a free initial tax consultation if you are a need of an IRS tax audit specialist.
We’ve been practicing right here in South Florida since 1982 in are A+ rated by the Better Business Bureau. We are friendly and affordable.
What are your Chances of a IRS Tax Audit – Ft.Lauderdale, Miami – Broward, Dade County – Tax Audit Specialists
by Fresh Start Tax | Jun 5, 2013 | Tax Audit
IRS Business, Payroll – IRS Tax Audits
One of the new hot button topics around the Internal Revenue Service are the IRS business and payroll tax audits specifically targeting the “worker classification issues.”
Both the state and the federal government know that they are losing millions and millions of dollars here because of unreported and misclassified of employees.
As a result they are launching 6000 new investigations regarding business and payroll tax audits alone.
The Internal Revenue Service have special groups of agents that specifically target payroll tax audits.
They are trained to look for any problems or concerns, tax abuses or criminal fraud in regarding payroll taxes.
If you have any concerns over being under tax audit by the Internal Revenue Service for business or payroll taxes. 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 have 206 years of professional tax experience and are comprised of tax attorneys, CPAs and former IRS agents, managers and tax instructors.
Worker classification
Worker classification enforcement is a top priority for the IRS and state labor agencies. The IRS launched a new audit initiative to audit 6,000 businesses for worker classification.
Taxpayers and businesses may be at risk no matter the size of their business!
The IRS needs money and EVERYONE is fair game to the IRS and state labor agencies. Failure to plan can be extremely costly and in some cases it can cause a business to close its doors.
Documents Requested by IRS for a Worker Classification Examination
The typical Initial Information Document Request (IDR) will include the following:
- Copies of the following returns/forms for the agent’s case file:
- Form 940 for prior years, exam year, and subsequent years.
- Form 941 for each quarter in prior years, exam year, and subsequent years.
- State unemployment tax returns for each quarter for prior years, exam year, and subsequent years.
- Form 1096 and Forms 1099 for prior years, exam year, and subsequent years.
- Forms W-2, W-2C, W-3, and W-3C for prior years, exam year, and subsequent years.
- Forms W-4 if any were completed by workers.
- Forms W-9 obtained from workers.
Other Documents that are normally requested
1. Payroll Journal for exam year (including work papers reconciling it to the employment tax returns).
2. Cash Disbursements Journal for exam year.
3. General Journal for exam year including any adjusting entries.
4. Trial Balance for exam year.
5. Copy of the prior years’ federal audit reports (if applicable).
6. Copies of the contracts between the company and its workers.
7. Additional documentation may be requested.
Contact us today regarding an IRS business or payroll tax audit. We have practice in South Florida since 1982 and tax experts for business and payroll tax audits. Come by and see us for an initial contact consultation. We are the friendly and affordable tax firm.
IRS Business, Payroll – IRS Tax Audits – Ft.Lauderdale, Miami – Affordable Tax Audit Experts
by Fresh Start Tax | Jun 5, 2013 | Sales Tax
State of Florida Sales Tax Audit Affordable Experts
We are a Florida tax firm that specializes in the state of Florida sales tax audits. We have been in private practice in Florida since 1982 and we are A+ rated by the Better Business Bureau.
We are staffed with tax attorneys, tax lawyers, certified public accountants, enrolled agents, and former agents who are sales tax experts.
Our firm has a total of 206 years of total tax experience and can help you with any state of Florida matter concerning the Internal Revenue Service.
You can contact us today for free initial consultation and speak directly to Affordable Sales Tax Expert attorneys, CPAs or former agents. We are the affordable tax firm.
Why Are Taxpayers and Businesses Audited by the State of Florida, Department of Revenue:
You
The state of Florida Department of revenue audits taxpayers for four major reasons:
1. Enforce Florida tax laws uniformly,
2. Deter tax evasion,
3. Promote voluntary compliance,
4. Educate taxpayers.
The Non-Filer Program
One of the chief priorities with the state of Florida Department of revenue is to go after those individuals and businesses who have failed to pay sales tax. With Florida being such a transient area and businesses opening up in closing the state of Florida launches new programs and every fiscal year to go after non-filers and to close the tax gap that exists.
The state launches several programs every year to sales tax cheats and to attempt to launch criminal investigations against those individuals and businesses who fail to pay over sales tax that have been collected. If you have not filed your past due tax returns is in your best interest to contact us today to get you back in the program.
The State of Florida excepts most tax returns as accurate.
The state of Florida accepts most tax returns as filed, they audit some returns to verify accuracy and evaluate compliance.
Sales and Use Tax Audits do not always result in the taxpayer owing additional tax, penalty or interest.
The State tax auditor may adjust a credit carryover or correct distribution without assessing additional tax.
Why are Taxpayers Selected for State Tax Audit?
Audit Methods
The methods for selecting a business or individual to audit vary from tax to tax. Here are some examples of sources we use to identify a potential audit candidate:
- Internal Revenue Service information.
- Information sharing programs with other states and state agencies.
- Computer-based random selection.
- Analysis of Florida tax return information.
- Business publications, periodicals, journals, and directories.
Types of Records You will Need to Provide for the Sales Tax Audit
When the State of Florida notifies you of our intent to audit, they will also tell you what records you will need to provide.
The types of records may include, but are not limited to:
1. General ledgers and journals
2. Cash receipt and disbursement journals
3. Purchase and sales journals
4. Sales tax exemption or resale certificates
5. Florida tax returns
6. Federal tax returns
7. Depreciation schedules
8. Property records
9. Other documentation to verify amounts entered on tax returns.
Record Keeping Requirement
You must keep your records for three years since an audit can extend back that far.
The State of Florida Department of Revenue may audit for periods longer than three years if you did not file, or filed a substantially incorrect return or payment.
Yes, you have taxpayers Rights During an Sales Tax Audits ?
The Florida Taxpayer’s Bill of Rights provides protection for taxpayers’ privacy and assets during their interactions with Revenue employees.
Your rights include:
1. The right to fair treatment.
2. The right to get available information and prompt, accurate responses to your questions.
3. The right to have the Department begin and complete its audit in a timely manner after we notify you of our intent to audit.
4. The right to get simple, nontechnical statements which explain the reason for audit selection and the procedures, remedies, and rights available during audit, appeals, and collection proceedings.
If you do this yourself, Can you Request Technical Assistance During the Audit?
When there are transactions or issues for which the tax consequences are questionable, you may ask for a written statement of our position any time during the audit. Our office of Technical Assistance and Dispute Resolution will issue a Technical Assistance Advisement (TAA), which is binding on the Department. For more information, read “Requesting Advice During an Audit.”
We encourage you to use our Tax Law Library to research the issue before requesting technical assistance.
What Happens When the Sales Tax Audit is Complete?
After your Sales Tax audit is complete, you can review the audit findings and proposed changes to your tax liability. The auditor will give you a copy of the work papers and explain your rights, including deadlines for filing protests.
If you agree
If you agree with the audit findings, we expect you to pay the amount due in full. If you cannot pay in full we can work payment plans or installment arrangements out with the state of Florida sales tax division. You have the right to protest the proposed changes if you disagree with them.
Florida’s voluntary disclosure program
Florida’s voluntary disclosure program allows a taxpayer to report previously unpaid or underpaid tax liabilities for any tax administered by the Department of Revenue.
It is the taxpayer’s opportunity to voluntarily pay these taxes without being penalized.
Who is eligible?
Anyone who has any tax liability for a tax administered by the Florida Department of Revenue and who has not been previously contacted by the Department concerning the liability.
Disclosures relating to delinquencies or deficiencies that are obvious and would routinely generate a billing if not otherwise self-disclosed are not eligible for the program.
What are the benefits to the taxpayer?
When the tax and interest liabilities have been paid, all penalties will be waived unless tax has been collected and not remitted. In those instances, a five percent penalty will be imposed, unless reasonable cause is presented.
How far back will Sales Tax Agents look?
Three years immediately preceding the postmark date of the voluntary disclosure request. Failure to take advantage of this program could result in the Department holding the taxpayer liable for the applicable (longer) limitation periods of the relevant taxes.
What taxes are eligible?
All taxes administered by the Department of Revenue are eligible, including (but not limited to):
- Governmental leasehold intangible personal property tax,
- Gross receipts tax on utility services,
- Insurance premium taxes, surcharges, and fees.
- Local option tourist development taxes administered by Department of Revenue,
- Motor vehicle warranty fee (“lemon law).
Call us today to learn more about state of Florida sales tax issues. You can speak directly to tax attorneys, tax lawyers, CPAs and former agents.
We are A+ rated by the Better Business Bureau in private practice since 1982 right here in Florida.
We are the affordable sales tax experts.
State of Florida Sales Tax Audit – Affordable Attorneys, Lawyers, CPA’s, Former Agent Sales Tax Experts – FLORIDA
