by Fresh Start Tax | Mar 5, 2013 | Tax Help
FBAR HELP – The latest in FBAR News – Tax Attorneys, Tax Lawyers – Expert FBAR Help 1-866-700-1040
IRS is hot on the trail of those taxpayers who have failed to file FBAR reports .
Call us today and speak directly to tax attorneys, tax lawyers, CPAs and former IRS agents who are tax experts and FBAR regulation. We offer FBAR help, assistance and FBAR tax representation and consulting.
Call us today and stop the worry and stress and make sure IRS stays off your back.We want to reach out to the IRS before they reach out to you!
You should know that IRS is making a living off all those taxpayers required to file FBAR forms and do to the success they’ve ( the IRS ) had in the recent program IRS is forming special groups both criminal and civil to go ahead and deal with taxpayers who are failing to report FBAR.
The latest in FBAR news
The IRS collected more than $50 billion in enforcement revenue in FY 2012, the third year in a row topping that figure. The 2012 numbers were lower than 2010 and 2011, which were unusual years with enforcement dollars helped by large numbers of offshore tax cases coming in.
More than 38,000 disclosures of offshore accounts have been made to date through the IRS’ offshore voluntary disclosure programs.
In addition, the economic slowdown contributed to lower enforcement figures, as most enforcement dollars collected resulted from audits of returns for years during the slowdown.
Who must file FBAR
If you have a financial interest in or signature authority over a foreign financial account, including a bank account, brokerage account, mutual fund, trust, or other type of foreign financial account, the Bank Secrecy Act may require you to report the account yearly to the Internal Revenue Service by filing Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR). If you need FBAR Help you should seek true tax professionals. 1-866-700-1040
The FBAR is required because foreign financial institutions may not be subject to the same reporting requirements as domestic financial institutions.
The FBAR is a tool to help the United States government identify persons who may be using foreign financial accounts to circumvent United States law. IRS keeps a list of all those Fbar prosecutions on the IRS website and you can find those@IRS.gov.
FBAR Help – FBAR pressure
During the last three years the United States government has put pressure on foreign countries and institutions that have not been aiding the Internal Revenue Service in turning over the list of taxpayers that have foreign bank accounts. When Lichtenstein fell the rest of the countries fell like dominoes. The IRS and the Department of Justice is not willing to play games anymore and they are using the fear of criminal prosecution to go after those who willfully failed to file FBAR reports
Tax Investigators use FBARs to help identify or trace funds used for illicit purposes or to identify unreported income maintained or generated abroad.
The most Recent FBAR Guidance
On February 24, the Treasury Department published final regulations amending the FBAR regulations.
These regulations became effective March 28, 2011, and apply to FBARs required to be filed with respect to foreign financial accounts maintained in calendar year 2010, and for FBARs required to be filed with respect to all subsequent calendar years.
The FBAR form and instructions (PDF) have been revised to reflect the amendments made by the final regulations.
Financial Crimes Enforcement Network
On May 31, 2011, the Financial Crimes Enforcement Network (FinCEN) issued FinCEN Notice 2011-1 (PDF), revised June 6, 2011, to provide filing deferral to certain individuals with signature authority over, but no financial interest in, foreign financial accounts of their employer or a closely related entity.
Filing deadlines for FBAR
The filing deadline for employees and officers to report signature authority over these accounts was extended to June 30, 2012, for the following individuals:
a. An employee or officer of an entity under 31 CFR § 1010.350(f)(2)(i)-(v) who has signature or other authority over and no financial interest in a foreign financial account of b. a controlled person of the entity; or
c. An employee or officer of a controlled person of an entity under 31 CFR § 1010.350(f)(2)(i)-(v) who has signature or other authority over and no financial interest in a foreign financial account of the entity, the controlled person, or another controlled person of the entity.
For purposes of FinCEN Notice 2011-1,
For purposes of FinCEN Notice 2011-1, a controlled person is a United States or foreign entity more than 50 percent owned (directly or indirectly) by an entity under 31 CFR § 1010.350(f)(2)(i)-(v).
On June 17, 2011, FinCEN issued Notice 2011-2 (PDF) to provide filing deferral for certain officers or employees of investment advisers registered with the Securities and Exchange Commission who have signature authority over, but no financial interest in, foreign financial accounts of their employer.
The filing deadline for employees and officers to report signature authority over these accounts was similarly extended to June 30, 2012.
Due to additional questions and concerns regarding the signature authority filing exceptions within Notice 2011-1 and Notice 2011-2, FinCEN twice extended the revised filing deadlines imposed by those two notices.
On February 14, 2012, FinCEN issued FinCEN Notice 2012-1 (PDF), extending the reporting deadline to June 30, 2013, for signature authority reporting of the employees and officers identified in Notice 2011-1 and Notice 2011-2, to the same extent of reporting as originally set forth in those notices.
More recently, on December 26, 2012, FinCEN issued Notice 2012-2, further extending this same filing deferral to June 30, 2014.
All other U.S. persons required to file an FBAR this year are required to meet the June 30, 2013 filing date.
On Jan 9, 2012, the IRS reopened the Offshore Voluntary Disclosure Program following continued interest from taxpayers and tax practitioners after the closure of the 2011 and 2009 programs.
This program will be open for an indefinite period until otherwise announced.
United States persons are required to file an FBAR if:
1. The United States person had a financial interest in or signature authority over at least one financial account located outside of the United States; and,
2. The aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year to be reported.
United States person means
United States person means United States citizens; United States residents; entities, including but not limited to, corporations, partnerships, or limited liability companies created or organized in the United States or under the laws of the United States; and trusts or estates formed under the laws of the United States.
Exceptions to the Reporting Requirement
Exceptions to the FBAR reporting requirements can be found in the FBAR instructions. There are filing exceptions for the following United States persons or foreign financial accounts:
1. Certain foreign financial accounts jointly owned by spouses;
2. United States persons included in a consolidated FBAR;
3. Correspondent/nostro accounts;
4. Foreign financial accounts owned by a governmental entity;
5. Foreign financial accounts owned by an international financial institution;
6. IRA owners and beneficiaries;
7. Participants in and beneficiaries of tax-qualified retirement plans;
8. Certain individuals with signature authority over but no financial interest in a foreign financial account;
9. Trust beneficiaries; and
10. Foreign financial accounts maintained on a United States military banking facility.
Reporting and Filing Information
A person who holds a foreign financial account may have a reporting obligation even though the account produces no taxable income.
Checking the appropriate block on FBAR-related federal tax return or information return questions (for example, on Schedule B of Form 1040, the “Other Information” section of Form 1041, Schedule B of Form 1065, and Schedule N of Form 1120) and filing the FBAR, satisfies the account holder’s reporting obligation.
The FBAR is not filed with the filer’s federal income tax return.
The granting, by the IRS, of an extension to file federal income tax returns does not extend the due date for filing an FBAR. You may not request an extension for filing the FBAR. The FBAR is an annual report and must be received by the Department of the Treasury in Detroit, MI, on or before June 30th of the year following the calendar year being reported.
While FinCEN strongly encourages individuals to electronically file FBARs, the form can be mailed to one of the two addresses below, provided that the mailing is received by June 30, 2013:
File by mailing the FBAR to:
United States Department of the Treasury
P.O. Box 32621
Detroit, MI 48232-0621
If an express delivery service is required for a timely filed FBAR, address the parcel to:
IRS Enterprise Computing Center
ATTN: CTR Operations Mail room, 4th Floor
985 Michigan Avenue
Detroit, MI 48226
Delivery messenger service contact telephone number: (313) 234-1062.
Account holders who do not comply with the FBAR reporting requirements may be subject to civil penalties, criminal penalties, or both.
Electronic Filing for FBAR Forms – MANDATORY Beginning July 1, 2013
On June 29, 2011, FinCEN announced that all FinCEN forms must be filed electronically with certain exceptions. The FBAR was granted a general exemption from mandatory electronic filing through June 30, 2013. E-filing is a quick and secure way for individuals to file FBARs.
Filers will receive an acknowledgement of each submission. For more information about FBAR e-filing, read the FinCEN news release.
New Reporting Requirements by U.S. Taxpayers Holding Foreign Financial Assets (Form 8938)
Taxpayers with specified foreign financial assets that exceed certain thresholds must report those assets to the IRS on Form 8938, Statement of Specified Foreign Financial Assets. The new Form 8938 filing requirement does not replace or otherwise affect a taxpayers requirement to file FBAR.
Call us today for free tax consultation and get the FBAR help that you are looking for.
FBAR HELP -The Latest in FBAR News -Tax Attorneys, Tax Lawyers – FBAR Reporting Help
by Fresh Start Tax | Mar 5, 2013 | Tax Settlements
IRS Tax Debt Settlements – Attorneys, Lawyers – How to Settle with the IRS 1-866-700-1040
We are comprised of Tax Attorneys, Lawyers CPAs and former IRS agents who have over 206 years of professional tax experience in over 60 years with the IRS.
While employed by the Internal Revenue Service we taught the IRS tax debt settlement otherwise called the offer in compromise. Not only do we know the system we know the exact tax settlement formulas. Let our years of IRS work experience work for you.
If you want to settle your IRS tax debt call us today and we will review your tax case and your tax situation at no cost. We will be able to propose different tax options for you to settle your IRS tax debt.
We are certified tax experts in IRS tax debt settlements. We have worked hundreds and hundreds of cases and have provided our clients with successful tax settlement resolution options.
We’ve been practicing since 1982 and we are A+ rated by the BBB and are very affordable and friendly.
Feel free to call us or Skype us today to find out the truth about your case.
After working at IRS for a combined 60 years work experience no taxpayer should file an offer in compromise or an IRS tax debt settlement without being prequalified.
IRS has very rigid standards for the acceptance of offers in compromise or tax debt settlements. You can find on our site a simple offer qualifier and you can find out for yourself whether you can settle your IRS tax debt by using the qualifier.
How to settle with the IRS
IRS has very specific methods, rules and regulations to settle your back taxes. You will find that our website on the forms page a qualifier that you can walk through yourself to find out whether you are a candidate for an offer in compromise or an IRS tax debt settlement.
The basic rules for an IRS tax debt settlement is very simple. IRS will want to know the total equity you have in all your assets and then they will make a determination on your income versus your expenses.
Once IRS knows the fair market value of your assets and understands your income and expense ratios they will make a determination as to the feasibility to accept an offer in compromise.
I would never recommend a taxpayer file an offer in compromise by them self.
Being a former IRS agent it serves the taxpayer to find a qualified tax professional who will both save them time and money and has a greater chance of getting the offer in compromise approved.
You may call our office we will run through the numbers with you and find out whether you are a qualified candidate.
The new IRS Fresh Start Program by IRS for IRS Tax Debt Settlements
The new fresh start program or fresh start initiative by the Internal Revenue Service is allowing thousands and thousands of taxpayers who owe back taxes to settle there IRS tax debt.
The Internal Revenue Service has another expansion of its “Fresh Start” initiative by offering more flexible terms to its Offer in Compromise program that will enable some of the most financially distressed taxpayers to clear up their tax problems and in many cases more quickly than in the past.
IRS will be focusing in on the financial analysis used to determine which taxpayers qualify for an OIC. This also enables some taxpayers to resolve their tax problems in as little as two years compared to four or five years in the past.
In certain circumstances, the changes announced today include:
a. Revising the calculation for the taxpayer’s future income,
b. Allowing taxpayers to repay their student loans,
c. Allowing taxpayers to pay state and local delinquent taxes,
d. Expanding the Allowable Living Expense allowance category and amount.
What is and IRS tax debt settlement
A 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 a through payment agreement.
The IRS looks at the taxpayer’s income and assets to make a determination of the taxpayer’s reasonable collection potential.
IRS tax debt settlements or offers in compromise are subject to acceptance on legal requirements. All IRS tax debt settlements get approved not only by the local agent working in case not only by the manager but also by IRS attorneys.
The IRS recognizes that many taxpayers are still struggling to pay their bills so the agency has been working to put in place common-sense changes to the OIC program to more closely reflect real-world situations.
When the IRS calculates a taxpayer’s reasonable collection potential, it will now look at:
1. only one year of future income for offers paid in five or fewer months, down from four years, and
2. two years of future income for offers paid in six to 24 months, down from five years.
All offers must be fully paid within 24 months of the date the offer is accepted. The Form 656-B, Offer in Compromise Booklet, and Form 656, Offer in Compromise, has been revised to reflect the changes.
Other changes to the IRS tax debt settlement program
Other changes to the program include narrowed parameters and clarification of when a dissipated asset will be included in the calculation of reasonable collection potential.
In addition, equity in income producing assets generally will not be included in the calculation of reasonable collection potential for on-going businesses.
Allowable Living Expenses
The Allowable Living Expense standards are used in cases requiring financial analysis to determine a taxpayer’s ability to pay. The standard allowances provide consistency and fairness in collection determinations by incorporating average expenditures for basic necessities for citizens in similar geographic areas.
These standards are used when evaluating installment agreement and offer in compromise requests. you can find the ease national averages on our website. They are different from region to region. Go to our IRS forms page and click on allowable standards allowed by IRS.
The National Standard miscellaneous allowance has been expanded to include additional items. Taxpayers can use the miscellaneous allowance for expenses such as credit card payments and bank fees and charges.
Guidance has also been clarified to allow payments for loans guaranteed by the federal government for the taxpayer’s post-high school education.
Payments for delinquent state and local taxes may be allowed based on percentage basis of tax owed to the state and IRS.
This is another in a series of steps to help struggling taxpayers under the Fresh Start initiative.
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 if Tax Records are lost or destroyed
- IRS Tax Debt Settlements
Our Company Resume: ( Since 1982 )
- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- 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”
- 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
by Fresh Start Tax | Mar 5, 2013 | IRS Tax Debt, Tax Settlements
IRS Tax Debt Settlement Tax Lawyer, Attorney Ft.Lauderdale, Miami – IRS Settlement Experts 954-492-0088
If you have an IRS Tax Debt and you wish to propose a tax settlement with the Internal Revenue Service who better to hire a tax firm that has on staff Tax Lawyer Attorneys, CPAs, and former IRS agents.
We have worked out of the local South Florida IRS offices and have over 60 years of direct working knowledge of the IRS.
While at the IRS our former IRS agents not only taught tax law but also taught the IRS tax debt settlement program called the offer compromise. We are true experts in IRS tax debt settlements.
With over 206 years of professional tax experience and over 60 years with the IRS we are one of the most experienced local professional tax firms.
We have been practicing since 1982 and the local South Florida area.
Call us today for a free tax consultation and hear the truth about your case and the different tax options and remedies available to you to settle your tax debt with the Internal Revenue Service.
IRS Tax Debt Settlement – The New Fresh Start Tax initiative by the IRS
In its latest effort to help struggling taxpayers, the Internal Revenue Service announced a series of new steps to help people get a fresh start with their tax liabilities.
The IRS goal is to help individuals and small businesses meet their tax obligations, without adding unnecessary burden to taxpayers.
With IRS initiative the IRS is announcing new policies and programs to help taxpayers pay back taxes and avoid tax liens.
The New Tax Liens policy from IRS
IRS making important changes to its lien filing practices that will lessen the negative impact on taxpayers.
The new tax changes include:
a. Significantly increasing the dollar threshold when liens are generally issued, resulting in fewer tax liens,
b. Making it easier for taxpayers to obtain lien withdrawals after paying a tax bill,
c. Withdrawing federal tax liens in most cases where a taxpayer enters into a Direct Debit Installment Agreement,
d. Creating easier access to Installment Agreements for more struggling small businesses,
e. Expanding a streamlined Offer in Compromise program to cover more taxpayers.
Both the taxpayer and the IRS benefits from this. This is another in a series of steps to help struggling taxpayers.
In 2008, the IRS announced lien relief for people trying to refinance or sell a home. In 2009, the IRS added new flexibility for taxpayers facing payment or collection problems. And last year, the IRS held about 1,000 special open houses to help small businesses and individuals resolve tax issues with the Agency.
The New Federal Tax Lien Thresholds
The IRS will significantly increase the dollar thresholds when liens are generally filed. The new dollar amount is in keeping with inflationary changes since the number was last revised.
Currently, federal tax liens are automatically filed at $10,000 dollar levels for people with past-due balances.
The IRS plans to review the results and impact of the lien threshold change in about a year. IRS should not be filing tax liens unless the tax debt is over $20,000. The filing of a federal tax lien actually cripples taxpayers and their future ability to borrow money. With the IRS filing these tax liens taxpayers are finding it absolutely impossible to pay off their debt because of their credit reporting scores.
The federal tax lien protects the government’s interest it has a completely adverse effect on the taxpayer in many cases taxpayers will never recover from the filing of the federal tax lien.
A federal tax lien gives the IRS a legal claim to a taxpayer’s property for the amount of an unpaid tax debt.
Filing a Notice of Federal Tax Lien is necessary to establish priority rights against certain other creditors. Usually the government is not the only creditor to whom the taxpayer owes money.
A lien informs the public that the U.S. government has a claim against all property, and any rights to property, of the taxpayer. This includes property owned at the time the notice of lien is filed and any acquired thereafter. A lien can affect a taxpayer’s credit rating, so it is critical to arrange the payment of taxes as quickly as possible.
The New Tax Lien Withdrawals System
The IRS will also modify procedures that will make it easier for taxpayers to obtain lien withdrawals.
Liens will now be withdrawn once full payment of taxes is made if the taxpayer requests it. The IRS has determined that this approach is in the best interest of the government.
In order to speed the withdrawal process, the IRS will also streamline its internal procedures to allow collection personnel to withdraw the liens.
The New Direct Debit Installment Agreements and Liens
The IRS is making other fundamental changes to liens in cases where taxpayers enter into a Direct Debit Installment Agreement . For taxpayers with unpaid assessments of $25,000 or less, the IRS will now allow lien withdrawals under several scenarios:
Tax Lien withdrawals for taxpayers entering into a Direct Debit Installment Agreement.
The IRS will withdraw a lien if a taxpayer on a regular Installment Agreement converts to a Direct Debit Installment Agreement.
The IRS will also withdraw liens on existing Direct Debit Installment agreements upon taxpayer request.
Federal Tax Liens will be withdrawn after a probationary period demonstrating that direct debit payments will be honored.
The New Installment Agreements and Small Businesses
The IRS will also make streamlined Installment Agreements available to more small businesses. The payment program will raise the dollar limit to allow additional small businesses to participate.
Small businesses with $25,000 or less in unpaid tax can participate. Currently, only small businesses with under $10,000 in liabilities can participate. Small businesses will have 24 months to pay.
The New Streamlined Installments for businesses
The streamlined Installment Agreements will be available for small businesses that file either as an individual or as a business. Small businesses with an unpaid assessment balance greater than $25,000 would qualify for the streamlined Installment Agreement if they pay down the balance to $25,000 or less.
Small businesses will need to enroll in a Direct Debit Installment Agreement to participate.
IRS New Tax Debt Settlement procedures – Offers in Compromise
The IRS is also expanding a new streamlined Offer in Compromise (OIC) program to cover a larger group of struggling taxpayers.
This streamlined OIC is being expanded to allow taxpayers with annual incomes up to $100,000 to participate. In addition, participants must have tax liability of less than $50,000, doubling the current limit of $25,000 or less.
OICs are subject to acceptance based on legal requirements. 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.
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.
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 if Tax Records are lost or destroyed
- Tax Lawyer, Attorney, IRS Tax Debt Settlements
Our Company Resume: ( Since 1982 )
- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- 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”
- 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
IRS Tax Debt Settlement Tax Lawyer, Attorney – Ft.Lauderdale, Miami – IRS Settlement Experts
by Fresh Start Tax | Mar 5, 2013 | Income Tax Preparation
Ft.Lauderdale, Miami – Income Tax Preparation and Services, Former IRS 954-492-0088
The affordable local tax professionals. Hire, assessable local IRS tax experts. Check out our Bio page on our homepage link.
Come and visit us for a free tax consultation and see how we can save tax dollars for you. We are both skilled and seasoned tax professionals who want to build long-term relationships up with our clients.
We’re both friendly and affordable. We are A+ rated by the Better Business Bureau and have served South Florida since 1982.
If you are in the need of income tax preparation and services who better to hire than former IRS agents and managers who know the tax laws, tax policies and tax systems of the Internal Revenue Service.
We worked out of the local South Florida offices for over 60 years and have a direct working knowledge of the Internal Revenue Service.
We know exactly how to lower and reduce your tax bill.
While at IRS we taught tax law.
Fresh Start Tax – Four Tax Tips about Your Unemployment Benefits
If you received unemployment benefits this year, you must report the payments on your federal income tax return.
Here are four tips from the IRS about unemployment benefits.
1. You must include all unemployment compensation you received in your total income for the year. You should receive a Form 1099-G, Certain Government Payments.
It will show the amount you were paid and the amount of any federal income taxes withheld from your payments.
2. Types of unemployment benefits include:
a. Benefits paid by a state or the District of Columbia from the Federal Unemployment Trust Fund
b. Railroad unemployment compensation benefits
c. Disability payments from a government program paid as a substitute for unemployment compensation
d. Trade readjustment allowances under the Trade Act of 1974
e. Unemployment assistance under the Disaster Relief and Emergency Assistance Act
3. You must include benefits from regular union dues paid to you as an unemployed member of a union in your income. However, other rules apply if you contribute to a special union fund and your contributions are not deductible. If this applies to you, only include in income the amount you received from the fund that is more than your contributions.
4. You can choose to have federal income tax withheld from your unemployment benefits. You make this choice using Form W-4V, Voluntary Withholding Request. If you complete the form and give it to the paying office, they will withhold tax at 10 percent of your payments.
If you choose not to have tax withheld, you may have to make estimated tax payments throughout the year.
Ft.Lauderdale ,Miami- Income Tax Preparation and Services, Former IRS – Save
by Fresh Start Tax | Mar 5, 2013 | Tax Help
Tax Lawyer – IRS Tax Resolution , IRS Tax Experts Ft.Lauderdale, Miami – South Florida 954-492-0088
We are comprised of Local Tax Lawyer Attorneys, CPAs, Enrolled Agents, and former IRS agents, managers and instructors who worked in the local South Florida IRS offices.
Our firm has over 206 years of professional tax experience and over 60 years of working directly for the Internal Revenue Service as agents, managers, appeals agents and former IRS personnel who taught tax law at the IRS.
If you have any IRS tax situation and need help in IRS tax resolution contact us for a free IRS tax consultation today. You will speak directly to tax lawyer attorneys, CPAs, or former IRS agents.
As a result of her years of experience and knowledge of the Internal Revenue Service we can offer you a variety of options and solutions to best remedy your situation.
Do not be stressed or worried, let us take the worry out and stress out of your the situation.
On any matters that pertain to attorney-client privilege you will be directed only to our tax attorney lawyers.
When hiring a tax lawyer the best advice that we can give you is to make sure you interview the person that will be handling your sensitive IRS tax issues.
Call us today for free tax consultation or come and visit our offices so you can find out who are some of the best IRS tax resolution experts in the South Florida Miami and Fort Lauderdale area.
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 if Tax Records are lost or destroyed
Our Company Resume: ( Since 1982 )
- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- 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”
- 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
- Tax Lawyer Experts, Tax Resolution Experts
New Penalty Relief Initiative by the Internal Revenue Service
The IRS announced plans for new penalty relief for the unemployed on failure-to-pay penalties, which are one of the biggest factors a financially distressed taxpayer faces on a tax bill.
To assist those most in need, a six-month grace period on failure-to-pay penalties will be made available to certain wage earners and self-employed individuals. The request for an extension of time to pay will result in relief from the failure to pay penalty for tax year 2011 only if the tax, interest and any other penalties are fully paid by Oct. 15, 2012.
The penalty relief will be available to two categories of taxpayers:
Wage earners who have been unemployed at least 30 consecutive days during 2011 or in 2012 up to the April 17 deadline for filing a federal tax return this year.
Self-employed individuals who experienced a 25 percent or greater reduction in business income in 2011 due to the economy.
This IRS penalty relief is subject to income limits.
A taxpayer’s income must not exceed $200,000 if he or she files as married filing jointly or not exceed $100,000 if he or she files as single or head of household.
This penalty relief is also restricted to taxpayers whose calendar year 2011 balance due does not exceed $50,000.
Taxpayers meeting the eligibility criteria will need to complete a new Form 1127A to seek the 2011 penalty relief.
The failure-to-pay penalty is generally half of 1 percent per month with an upper limit of 25 percent.
Under this brand new IRS relief, taxpayers can avoid that penalty until Oct. 15, 2012, which is six months beyond this year’s filing deadline.
However, the IRS is still legally required to charge interest on unpaid back taxes and does not have the authority to waive this charge, which is currently 3 percent on an annual basis.
Even with the new penalty relief becoming available, the IRS strongly encourages taxpayers to file their returns on time by April 17 or file for an extension. Failure-to-file penalties applied to unpaid taxes remain in effect and are generally 5 percent per month, also with a 25 percent cap.
Tax Lawyer – IRS Tax Resolution , IRS Tax Experts – Ft.Lauderdale, Miami – South Florida
