by Fresh Start Tax | Apr 24, 2013 | FBAR
FBAR Filing, Reporting, Amnesty – Tax Attorneys, Lawyers – FBAR Expert Settlement 1-866-700-1040
The federal government and the Internal Revenue Service has found a new revenue stream through FBAR reporting or lack thereof.
The Internal Revenue Service and the Department of Justice are having a field day ever since the government has opened the door for full compliance in FBAR Reporting.
It is been very apparent over the last three years that the IRS is no longer fooling around and if taxpayers do not become in compliance with the new Fbar reporting and filing laws, a criminal investigation looms and hangs over their heads.
For the most part, IRS is been very lenient with this program but talks inside the agency speaks about the heavy hand of the Internal Revenue Service applying their criminal power to start to prosecute people who are no longer compliant in filing Fbars and amending their tax returns.
The Internal Revenue Service has collected nearly $6 billion in the last three years ever since their declaration against those not filing Fbar.
Do yourself a favor and find the IRS before the IRS find you. If you are one of those taxpayers who have this issue it is your best interest to contact us today and speak directly do a tax attorney or tax lawyer who can help you through this situation settle your case.
You will find below the results of a recent case.
Preet Bharara, the U.S. Attorney for the Southern District of New York, and Victor S. O. Song, the Chief of the United States Internal Revenue Service (IRS) Criminal Investigation Division, announced today the filing of charges against seven individuals who collectively hid more than $100 million from the IRS by using sham companies to conceal their ownership of secret Swiss bank accounts held at UBS AG (UBS).
Two of those seven defendants, Jules Robbins and Federico Hernandez, pleaded guilty to separate criminal information’s filed today in Manhattan federal court and agreed to pay civil penalties of $20.8 million and $4.4 million, respectively. Robbins pleaded guilty before U.S. Magistrate Judge Ronald L. Ellis. Hernandez pleaded guilty before U.S. District Judge Denny Chin.
Charges also were unsealed today against five additional defendants: Kenneth Heller, Sybil Nancy Upham, Richard Werdiger, Ernest Vogliano and Shmuel Sternfeld. Upham, who surrendered this morning, was presented and arraigned before Magistrate Judge Ellis. Werdiger, who also surrendered this morning, is expected to be presented and arraigned before United States District Judge Paul G. Gardephe. Vogliano is expected to surrender to law enforcement authorities. Sternfeld and Heller remain at large.
According to the charging instruments unsealed today in Manhattan federal court, statements made in connection with the guilty plea proceedings involving Robbins and Hernandez, and other court documents:
For many years, UBS provided private banking services to U.S. taxpayers as part of its “U.S. cross-border banking business,” which employed approximately 60 UBS employees based in Switzerland.
From at least 2000 to 2008, UBS, through these employees, helped U.S. taxpayers conceal their Swiss-based assets, and the income earned on those assets, from the IRS.
UBS and the U.S. taxpayers, assisted by independent Swiss attorneys and financial advisors, hid these assets from the IRS by listing sham offshore companies as the account holders of UBS accounts, when in fact the U.S. taxpayers actually owned and controlled the accounts.
Four of the defendants – Upham, Heller, Vogliano and Sternfeld – removed their assets from UBS shortly after the publication of media reports in May 2008 that the Government’s criminal investigation of UBS might result in the disclosure of their unreported accounts to the United States Department of Justice.
Specifically to avoid this result, these defendants moved tens of millions of dollar collectively from UBS to smaller, lower-profile Swiss and Liechtenstein banks, hand-picked because they, unlike UBS, did not have offices in the United States.
Two of the defendants – Upham and Vogliano – repatriated funds from their UBS bank accounts to the United States by traveling or having a close family member travel from New York to UBS’s offices in Zurich, Switzerland, to pick up hundreds of thousands of dollars in cash or travelers checks and then return to the United States.
Under federal law, when filing Individual Income Tax Returns, Form 1040, U.S. taxpayers are obligated to report their worldwide income.
Additionally, taxpayers who have a financial interest in, or signature or other authority over, a financial account in a foreign country with an aggregate value of more than $10,000 at any time during a particular year are required to file with the IRS a Report of Foreign Bank and Financial Accounts (FBAR), as indicated on Schedule B of Form 1040.
The defendants are variously charged with conspiracy crimes, criminal tax offenses, and/or willful failure to file FBARs. The cases against each of the seven defendants are outlined below.
Call us today for free initial consultation. You can speak directly to an IRS tax attorney or IRS tax lawyer.
FBAR Filing, Reporting, Amnesty – Tax Attorneys, Lawyers – FBAR Expert Settlement
by Fresh Start Tax | Apr 24, 2013 | Sales Tax
Sales Tax Audits – Sales Tax Experts, Affordable – Ft.Lauderdale, Miami, Palm Beaches 954-492-0088
If you have been notified that State of Florida Department of Revenue is conducting a sales tax audit contact us today for expert sales tax defense.
We have over 206 years of professional tax experience in over 60 years of working directly for government agencies right here in South Florida. We are true tax experts.
We are comprised of tax attorneys, certified public accountants, former IRS agents and managers. We are tax experts in sales tax audits.
You can contact us today for an initial tax consultation. We will review your case and give you an expert opinion on how to proceed forward on your sales tax audit.
The best advice that we give our clients is not to get too worried.
Due to our years of experience we can handle the situations without fear or worry for clients.
So, Why Are Taxpayers Audited by the State of Florida?
The State of Florida conducts Sales Tax Audits for many reasons. Some of them are to:
1. Enforce Florida tax laws uniformly.
2. Deter tax evasion.
3. Promote voluntary compliance.
4. Educate taxpayers.
While the State of Florida accept most tax returns as filed, they audit some returns to verify accuracy and evaluate compliance. The state of Florida runs different compliance programs to make sure different industries are in check and paying their share of sales tax.
Sales Tax Audits do not always result in the taxpayer owing additional tax, penalty or interest. The sales tax auditor may adjust a credit carryover or correct distribution without assessing additional tax. The auditor may even determine that a refund is due.
How Are Taxpayers Selected for Audit?
The methods for selecting a business or individual to audit vary from tax to tax and from industry to industry. Management for sales tax runs a variety of programs based on geographic territories and compliance programs especially in area where they feel negligence is apparent. At the end of every year the state of Florida sets out its goal and mission for the following year and make sure there is an equal weight of sales tax audits among all companies and types of businesses throughout the state of Florida.
Here are some examples of sources we use to identify a potential Sales Tax audit candidate:
a. Internal Revenue Service information.
b. Information sharing programs with other states and state agencies.
c. Computer-based random selection.
d. Analysis of Florida tax return information.
e. Business publications, periodicals, journals, and directories.
What Types of Records Will I Need to Provide?
When we notify you of our intent to audit, we will also tell you what records you will need to provide. Sometimes the auditor may ask a few records and other times you will find a voluminous amount of records will be requested by the sales tax auditor.
The types of records may include, but are not limited to:
a. General ledgers and journals
b. Cash receipt and disbursement journals
c. Purchase and sales journals
d. Sales tax exemption or resale certificates
e. Florida tax returns
f. Federal tax returns
g. Depreciation schedules
h. Property records
i. Other documentation to verify amounts entered on tax returns
You must keep your records for three years since an audit can extend back that far. The Department may audit for periods longer than three years if you did not file, or filed a substantially incorrect return or payment.
What Are My Rights During an Audit?
The Florida Taxpayer’s Bill of Rights provides protection for taxpayers’ privacy and assets during their interactions with Revenue employees.
Your Taxpayers 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.
Communicating and Meeting Deadlines
Throughout the audit process, communication is vital. It is important for the taxpayer never to miss a compliance date whatsoever. Should you miss a date the state has the ability to set the tax deficiencies.
After we send you a Notice of Intent to Audit Books and Records, the auditor will work with you to set a date to begin the audit.
The auditor will give you deadlines for providing information or documentation.
If you need additional time to prepare, or need to request a delay for other reasons, contact the auditor.
If you fail to respond to the Auditor Request
The auditor will make every effort to accommodate your requests. If you fail to respond or provide the requested information, we may issue an assessment and file a warrant based on the best available information.
Can I 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.
We encourage you to use our Tax Law Library to research the issue before requesting technical assistance.
What Happens When the Audit is Complete?
After your 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 with the findings of the sales tax audit
If you agree with the audit findings, we expect you to pay the amount due in full. You have the right to protest the proposed changes if you disagree with them.
Self-Audit/Self-Analysis
The Department uses self-audit or self-analysis projects to educate taxpayers on issues related to a particular compliance problem or industry. We send selected taxpayers information about a specific tax or issue, user-friendly instructions, and simple worksheets.
We ask them to review the materials, complete the worksheets, calculate any additional tax due, and return the paperwork to us with payment. The auditor has limited contact with the taxpayer and does not visit the taxpayer’s location. The Department usually accepts the taxpayer’s responses.
However, participation in a self-audit/self-analysis does not exempt the taxpayer from further audit review of the same time period.
Sales Tax Audits – Sales Tax Experts, Affordable – Ft.Lauderdale, Miami, Palm Beaches
by Fresh Start Tax | Apr 24, 2013 | Tax Help
Wage Garnishment – IRS Tax Attorneys, Lawyers – Experts in Wage Garnishments Removal, Settlements 1-866-700-1040
If you need immediate removal of an IRS wage garnishment contact us today for immediate tax relief and get your case settled.
We are comprised of IRS tax attorneys, tax lawyers, certified public accountants, enrolled agents, and former IRS agents managers and tax instructors.
We have over 206 years professional tax experience and over 60 years of working directly for the Internal Revenue Service has agents and managers. While at the Internal Revenue Service we also taught collection tax law.
Because of our term of service at the Internal Revenue Service we are tax experts in the removal of wage garnishments and tax settlements. As a result of our 60 years at IRS, we know the exact systems, the exact protocols, and the exact methods in which IRS releases wage garnishment levies and how they settle their cases.
Why did IRS send out a Wage Garnishment
IRS sends out a series of three or four billing notices to the last known address of the taxpayer which address shows up as a result of the filing of their last filed income tax return.
IRS is allowed by law only to send that last billing notice to the last address shown on their tax return. No other requirement needs to be met. IRS makes no other attempt to contact the taxpayer.
If the taxpayer does not comply to IRS request to contact the one 800 number shown on the final notice of their bill, the IRS systemically sends out a wage garnishment levy to the taxpayers employer.
The employer is usually found on a W-2 or other income indicators that the Internal Revenue Service has on their CADE2 computer.
All of these wage garnishment levies are sent out systemically by the Internal Revenue Service in their untouched by human hands.
How long is the wage garnishment levy in effect
The IRS wage garnishment is a continual levy and does not stop until he employer receives an actual release of the federal tax wage garnishment.
The form the IRS sends to garnish a person’s wages is a form 668-W. A taxpayer should immediately contact a tax professional or the Internal Revenue Service to start the process to get the IRS wage garnishment removed and the case settled.
What is needed to get the wage garnishment released
To get the wage garnishment released from the Internal Revenue Service a taxpayer will have to provide a current financial statement to the Internal Revenue Service.
That form is the 433-F and you can find that financial statement on our website.
That form will need to be sent or faxed to the Internal Revenue Service along with the last pay stubs, the last 3 to 6 months bank statements, and a copy of all income and expenses for the last three months.
IRS will use the national and regional standards to assess your financial statement before they make a determination on your case.
IRS may also request that all federal income tax returns be filed and brought up to date and evidence or proof that you are making current tax deposits or have enough withholding being taken now your check at the situation will not occur again.
How soon can you get the IRS wage garnishment removed
As soon as IRS gets a fully completed 433F with all the associated documentation the IRS will begin the process of closing your case off the IRS enforcement computer and releasing your Wage Garnishment .
To do that IRS will need a closing method in which to close the case.
As a general rule the IRS closes case is one of three ways.
After the Internal Revenue Service analyzes your case they will determine that you are either a financial hardship candidate, you are suitable for installment agreement, or you are a tax settlement candidate and will let you know that you should file an offer in compromise.
Offers in compromise or IRS tax debt settlement should not be done without professional tax help. As a former IRS agent and teaching instructor of the offer in compromise I can tell you first hand the OIC is much more complicated than people ever think.
IRS accepts about 29% of all the offers in compromise filed and my hunch is that a 90% of those that are accepted are filed by professional tax companies.
The Internal Revenue Service can do more than just send a wage garnishment out
Keep in mind the Internal Revenue Service to not have to stop with just the wage garnishment. IRS has the option of issuing a bank levy to your financial institutions and also has the ability of file a federal tax lien. It is extremely important to contact the IRS and resolve this problem as soon as possible.
Contact us today. We are comprised of IRS tax attorneys, certified public accountants, and former IRS agents managers instructors.
We are A+ rated by the Better Business Bureau have been in private practice since 1982.
Wage Garnishment – IRS Tax Attorneys, Lawyers – Experts in Wage Garnishments Removal, Settlements
by Fresh Start Tax | Apr 24, 2013 | Tax Levy and Wage Garnishments
IRS Bank Levy, Wage Levy Garnishments – Get Releases ASAP, Former IRS 1-866-700-1040
The Internal Revenue Service sends out 3.6 million IRS bank levies and IRS wage garnishment levies each year.
The IRS CADE2 computer generates these levy notices both banks and employers systemically.
Not a human hand touches these a bank levy or Wage levy garnishment.
Thousands of these notices are sent every day to taxpayers who are failed to respond to the last billing notice the IRS is sent to their last known mailing address. Sadly millions of taxpayers never have received their final builder notice to even respond to the Internal Revenue Service and that is because the IRS has a protocol that states that it is only required to send the last billing notice to the last known address on their last file tax return.
As a former IRS agent I sent out hundreds and hundreds of IRS bank levies and wage garnishment levies.
Because of my years of experience at the Internal Revenue Service I know the exact protocol, the exact format, and the exact settlement procedures to go ahead and to get your IRS wage levy garnishment or IRS bank levy released as soon as possible.
We have over 206 years of professional tax experience, over 60 years of working directly for the Internal Revenue Service and the local, district, and regional tax offices of the Internal Revenue Service and we are a plus rated by the Better Business Bureau.
The process of getting the IRS bank levy or wage Levy garnishment released
There is a very exact process or protocol that the Internal Revenue Service uses to get the IRS bank levy or wage Levy garnishment released.
Before IRS releases anyone off the hook they need to determine the collectibility of each and every taxpayer or business before they close off the case off the IRS collection computer called CADE 2.
IRS will require a current financial statement.
You can find that financial statement on our website. The forms is the 433-F. You will have to complete every box on the form and have it completely documented before the Internal Revenue Service will make a determination on how your case can be closed.
Documents Needed for Release of IRS Bank Levy or Wage Garnishment
Beside the IRS financial statement the IRS will require copies of pay stubs, of bank statements for the last 3 to 6 months and a copy of all your bills receipts and expenses for a period of three months.
The Internal Revenue Service will also make sure that all your tax returns are up-to-date and that you are having the proper amount of withholding taken out of your paycheck.
If you are self-employed they will make sure that you are making current estimate tax payments
IRS will carefully review your financial statement and apply it against the national and regional standards. you can find those national and regional standards on her website. Click on the IRS forms on our homepage and you will be brought to the national standards. IRS will then make a determination as to how they will close your case.
That can be appealed if you do not like the decision. You have the option of filing CAP for someone else to review your case.
How your case will be settled with the Internal Revenue Service
IRS will either close your case suggesting you are a suitable candidate for an offer in compromise, they may determine that you could make a current monthly payment to them based on your financial statement or the IRS may determine because of your present condition you are at this time currently not collectible.
If the IRS determines that your case is currently non-collectible they will place your case in suspense for the next three years.
As a general rule once your adjusted gross income shows a higher amount, your case will be generated back to the field and your case brought back to the enforcement computer and the process starts again all over with bills and notices.
The IRS Bank Levy
When a bank receives the levy notice from the Internal Revenue Service all funds are frozen in that account for 21 days.
The funds that are frozen are only those monies that are in the bank account on the day the bank received the IRS levy.
By law, those are the only funds that are frozen.
You can continue to use that bank account as much as you want except for the frozen funds. Contrary to popular belief your bank account is not closed.
The Internal Revenue Service gives taxpayers a 21 day grace period to go ahead and allow them to get the release of the Bank Levy and get their monies back in their hand.
The wage levy garnishment
The wage levy garnishment unlike the bank levy is a continuous levy.
It continues to garnish or seizes a person’s paycheck week after week until the employer receives an actual release from the Internal Revenue Service.
All taxpayers should act immediately upon receiving an IRS bank levy or wage Levy garnishment. We can get your bank levy or your wage levy garnishment released immediately as soon as we have your current financial statement with all documentations in our hand.
Call us today for free initial consultation and you can speak directly tax attorneys, certified public accountants, or former IRS agents who are tax experts for IRS bank levies and release of wage levy garnishments,
We not only will get your IRS bank levy or your wage levy garnishment released we will also settle your case. We are affordable, A+ rated by the Better Business Bureau and have been in private practice since 1982.
IRS Bank Levy, Wage Levy Garnishments – Get Releases ASAP, Former IRS
by Fresh Start Tax | Apr 24, 2013 | Tax Levy and Wage Garnishments
Back Account Frozen by the IRS – Get Levy Release ASAP by Former IRS Agents 1-866-700-1040
If your bank account has been frozen by the Internal Revenue Service call us today to get a fast and quick resolution and get your release of bank levy by the Internal Revenue Service.
You want to consider the use Fresh Start Tax LLC because we have over 206 years professional tax experience, over 60 years with the Internal Revenue Service and we are A+ rated by the Better Business Bureau.
We have been in private practice since 1982 and have released thousands of levies.
We can make this a very easy process of unfreezing your bank account and settling your case.
We are comprised of former IRS agents and managers with 60 years of working directly for the Internal Revenue Service at the local, district, and regional tax offices of the Internal Revenue Service.
As a result of our years of experience at the IRS, we know the exact systems, the exact protocol, and the exact settlement formulas necessary to get your money back in your hands and settle your case as well.
There is a very specific process to get your frozen bank account funds released and back in your hands.
The IRS sends bank account levies out to taxpayers because they have failed to address notices and bills that were sent out to taxpayers at the last known address.
The unfortunate part, many taxpayers because they have moved never received the last bill or notice. Also many times fear shuts taxpayers down from dealing with their IRS issues. That’s where we come in we can help overcome those fears and get your life back in order.
To Get Your Bank Account Release
To get your bank account unfrozen and get the money back in your hands the IRS will need to close your case off the enforcement computer.
IRS will require a 433-F which is the IRS version of a financial statement.
Along with the financial statement IRS will need complete and accurate documentation as to the correctness of the financial statement. IRS will need your last pay stub, your last three months of bank statements, and also a copy of all your monthly expenses. IRS will conduct an analysis as to how they believe your case should be closed. IRS will use the national and local averages to determine the allowable expenses.
As a general rule, IRS will close your case in one of three fashions.
1. IRS will determined by your financial statement that you are right now in an economic tax hardship and you’re unable to pay IRS at this time. Within the IRM there are provisions to shelve your case for two or three years because you are currently noncollectable.
2. IRS may say that you could make an installment or make payment arrangements because of your present income at the time.
3. IRS may also let you know that you are a suitable candidate for an offer in compromise or a tax debt settlement.
Once the taxpayer agrees to a closing method the IRS will send a notice of release to the bank that has your account frozen.
Holding Period for Bank Levies
A bank must wait 21 calendar days after a levy is served before sending payment.
Then, on the next business day, it must turn over the taxpayer’s money. The depositor(s) can waive this waiting period.
The bank will not send money that is subject to attachment or execution under judicial process.
“Bank” includes credit unions, savings and loan associations, trust companies, and others described in IRC 408(n) and Treas. Reg. §301.6332–3(b).
During the holding period, a levy might be released, or the amount owed could decrease.
Note:
If the bank receives no release, it must send the payment after the holding period. No additional notice is required.
Consider the holding period when deciding how long to project the accruals on a bank levy.
Role of the Bank Liaison
The holding period was created to settle disputes about ownership of bank accounts before money is sent.
A bank liaison in each territory is usually assigned to settle these issues quickly.
Sometimes ownership is not settled before the holding period ends. If this happens, ask the bank for more time.
Multiple Signature Authority for a Bank Account
A levy served to a bank attaches to funds in a bank account for which the taxpayer has an unrestricted right to withdraw funds (signature authority) – even if multiple persons have signature authority for that bank account.
As noted in Treasury Regulation 301.6332–1(c)(4) the unrestricted right to withdraw funds is an interest which is subject to levy.
Examples of this are the following
A bank is served with a notice of levy for an unpaid tax liability due from the taxpayer in the amount of $2,000. The bank holds $2,000 in a checking account in the names of a taxpayer and a third party.
Although all of the deposits into the account were made by the third party, the taxpayer has an unrestricted right to withdraw the funds from the account. The bank may send the Service the entire account balance at the end of the 21 day holding period.
The bank is not liable to the third party for any amount, even if the third party proves that the funds in the account did not belong to the taxpayer, because the taxpayer’s unrestricted right to withdraw the funds is an interest which is subject to levy.
The third party may, however, seek the return of the funds from the United States by making an administrative wrongful levy claim under IRC 6343(b) or file a suit under IRC 7426(a)(1) should the administrative claim be denied.
A wrongful Levy
A non-liable third party may claim ownership of funds in a bank account when multiple people hold signature authority for that bank account. Treat this dispute as a potential wrongful levy.
A wrongful levy is a levy that improperly attaches property belonging to a third party in which the taxpayer has no rights.
See IRM 5.11.2.2.2, Wrongful and Erroneous Levies, for the procedures to follow in these situations.
Reminder: For bank levies if additional time is needed beyond the 21 day hold period to determine ownership, request the bank hold the funds. Provide the potentially wrongfully levied party a deadline date for providing substantiation and provide the bank with a specific extension date to forward the funds.
Reminder:
Provide the potentially wrongfully levied party Form 4528, Making an Administrative Wrongful Levy Claim Under Internal Revenue Code (IRC) Section 6343(b)
Amount that Must be Surrendered
The bank must send the amount in the taxpayer’s accounts. A bank levy attaches to any property or rights to property that belong to the taxpayer or on which there is a Federal tax lien, unless it is exempt. See IRC 6331, Levy and Distrait , for legal authority to levy. However, it must send no more than the amount shown on the notice of levy.
Note:
By law, banks cannot immediately honor the IRS levy. See IRM 5.11.4.1, Holding Period, for guidance on the holding period after a bank levy.
on the she had her routine of
Bank Account Levy only attaches to the date the money is received.
The notice of levy only reaches the amount on deposit when the levy is received. Money deposited later is not surrendered, including deposits during the holding period. Another levy must be served to reach this money.
Also, the levy only reaches deposits that have cleared and are available for the taxpayer to withdraw.
Levy proceeds must not be reduced by any fee charged by the bank for processing the levy.
Back Account Frozen by the IRS – Get Levy Release ASAP by Former IRS Agents
