by Fresh Start Tax | Jun 29, 2012 | Back Taxes, Expatriate Tax, Income Tax Preparation, IRS Tax Debt, Offer in Compromise, Representation, Tax Lawyer, Tax Returns, Tax Settlements
ExPats IRS Tax Consultants – Income Tax Prep, File, Tax Settlements – Tax Attorneys, Former IRS 1-866-700-1040
We are a Professional Tax Firm specializing in World Wide Ex-Pat tax consultations, tax services, income tax preparation and IRS tax settlements.
We have been in practice since 1982 and are “A” rated by the BBB.
Skype available. Password freshstarttax.
We are staffed with Tax Attorneys, Tax Lawyers, CPA’s and Former IRS Agents
Expats and everyone living abroad including those with FBAR issues, BEWARE.
Under Obama Care the IRS will be given over $500 million large to enforce compliance and collections of IRS Tax Laws and much of the budget is to aggressively go after International money.
The IRS will be carefully watching Expats because of the non compliance from ExPats.
IRS has found that many Expats not in filing compliance. IRS plans to change this starting next year.
The IRS report is specially targeting international money and IRS is setting Agent Groups up specializing in ExPat stuff.
This is not to scare you but just stating fact. If you are in compliance you do not need to worry or read the rest.
If you are having tax issues or you are in non compliance with the IRS and need to chat, hit us up for a free tax consult. We specialize in Expat Tax.
We have worked countless numbers of these cases.
Since we have worked for the IRS we know all the tax strategies and procedures related to the tax filings and tax settlements to get you through worry free.
Penalties for not filing.
Significant penalty imposed for not filing expatriation form
Anyone who has expatriated or terminated his U.S. residency status must file Form 8854, Initial and Annual Expatriation Information Statement (PDF). Form 8854 must also be filed to comply with the annual information reporting requirements of Internal Revenue Code section 6039G, if the person is subject to tax under Section 877 of the Code.
A $10,000 penalty may be imposed for failure to file Form 8854 when required.
IRS is sending notices to expatriates that have not complied with the Form 8854 requirements, including the imposition of the $10,000 penalty where appropriate.
The Instructions for Form 8854 (PDF) provide details about the filing requirements, related definitions and line-by-line instructions for completing the form.
Failure to file or not including all the information required by the form or including incorrect information could lead to a large penalty and tax enforcement.
ExPats IRS Tax Consultants, Income Tax Prep, File, Tax Settlements, Offer in Compromise
We can help today. Call and speak directly to Tax Attorneys, Former IRS or CPA’s.
We are affordable, assessable and will tell your the truth. We can file all back tax returns with or without records through our tax reconstruction methods.
Expatriates IRS Tax Consultants – Income Tax Prep, File, Tax Settlements – Tax Attorneys, Former IRS
by Fresh Start Tax | Jun 27, 2012 | Abatements, Back Taxes, Expatriate Tax, FBAR, Income Tax Preparation, IRS Tax Problem, Representation, Tax Lawyer, Tax Returns, Tax Settlements
The IRS is already starting to bear down very hard on Ex-Pats and there late, past due and or delinquent tax returns.
The IRS has dedicated so much more revenue to oversees tax collections and tax audits. These groups of agents are called Revenue Agents. They are currently being trained to go after easy tax money and easy tax targets, and those are the Expats. they have been well trained and also experienced for fraud indications.
The IRS has finally wised up and realized that instead of going after the deadbeats who lives within the boundaries or confines of this great country, the new found jackpot is where the money and the leverage is sitting and that my friends is the IRS new target, Ex Pats and FBAR.
Many of the Ex-Pats who have not filed were unaware of the filing issue or the tax laws. I would say over 50% of the cases we work are due to the lack of knowledge and ignorance of the law. If that is the case, we can get penalties and interest, removed or abated for reasonable cause.
How we handle Ex Pat cases regarding late, past due, back or delinquent returns:
We send to IRS a Power of Attorney indicating that the IRS is not to talk or contact the taxpayer.
We then secure the necessary documentation from our client and secure internal records that the IRS has in house. IRS stores all income information for 7 years.
In the case of lost records we file reconstructed tax returns. We have filed so many reconstructed tax returns these never become a problem. A good deal of taxpayers who have lost there records are afraid to file because many years have gone by. Believe it or not IRS is happy to get the returns and get you back in tax compliance.
Keep one thing in mind, if the IRS sends you a letter about filing your late, back, past due or delinquent tax returns and you do not respond,the IRS has the right to file for you and this a called a substitute for return. ( SRF )
The bottom line, we can file all your tax returns with or without records and also settle your back IRS tax debt.
We are comprised of Tax Attorneys, CPA’s and Former IRS agents with over 60 years of professional tax experience.
Call us today for a no cost consult. 1-866-700-1040
Call us and see how easy this can be. You can do this worry free!
by Fresh Start Tax | Jun 25, 2012 | Back Taxes, Expatriate Tax, Income Tax Preparation, Representation, Tax Lawyer, Tax Returns
Expatriates – Ex Pat’s file Back Tax Returns – Former IRS Agents – Tax Attorneys, CPA’s, Former IRS Agents – Worry Free
If you are an Ex-Pat or you are working overseas you should be aware of the U.S. tax filing requirements.
Fresh Start Tax L.L.C. is a tax specialty firm specializing in Expatriates living overseas. We handle all areas of filing and tax compliance from the filing of all current tax returns, back or late filing of income tax returns and the settlements of back taxes that may be owed. We are IRS Tax Experts in Offers in Compromise.
We offer a no cost professional tax consultation.
Americans that are working overseas are usually aware that $70,000 of foreign earned income can be exempted when certain foreign residency requirements are met.
What is not obvious – Caution
It may not be so obvious, however, that every year a federal tax return should be filed reporting that income.
The reasons for Non- filing are numerous and vast.
Usually, United States IRS tax forms are not available and many of those forms are available but incomprehensible or the tax year for the employer is different from a calendar year so it’s hard to figure out income.
Many taxpayers are simply aware that a tax filing requirement even existed.
Reasonable Cause Does Exist-Get rid of the Penalties completely.
Reasonable cause can exist for a variety of reasons. Many times it is not always clear to the taxpayer that it is necessary to file a federal tax income tax return since it was not even known that there was a tax obligation. Many times taxpayers did not receive income reports or they depended on other third parties who gave them the wrong information.
Whatever the reason, it usually happens at some point that the taxpayer becomes aware of the fact that a U.S. tax return should have been filed and now the taxpayer is in default on that tax obligation to file current tax returns. Many find out they should have been filing many years of back taxes. Not to worry.
You can look at our website for a comprehensive list of of reasonable cause.
We are comprised of Board Certified Tax Attorneys, CPA’s and Former IRS Agents.
Expatriates, Ex-Pat’s File Back Tax Returns call us today. 1-866-700-1040
by Fresh Start Tax | Jun 25, 2012 | Abatements, Back Taxes, Expatriate Tax, Income Tax Preparation, Tax Lawyer, Tax Settlements
Ex-Pat Tax Return Filing – Tax Attorneys, CPA’s, Former IRS – IRS Tax Experts
We are comprised of Board Certified Tax Attorney’s, CPA’s and Former IRS Agents and Instructors.
You can have Former IRS Agents and Managers who know the system and the tax procedures get you back in the IRS system worry free.
We have taught Tax Law at the IRS as Former IRS Agents.
We have filed and resolved hundreds of U.S. Expatriates who have not filed their past due or late tax returns for all kinds of reason.
Many taxpayers do not have the proper records and many simply did not know there was even a tax filing requirement.
If you owe back IRS tax because of late filing we can also look to abate the penalties and interest and work out a tax settlement.
We have made this a very simple process. Because of our vast expertise in this Ex – Pat matters we have made this process very affordable and you will never have to contact the IRS. Ex- Pat’s will simply give us a power of attorney and we do the rest.
Because of our awareness of the U.S. Tax Laws you will pay the lowest amount allowed by law. There are special tax benefits such as the:
1. Foreign Tax Exclusions,
2. Foreign Tax Credits.
3. Earned Income Exclusion.
Fresh Start Tax L.L.C. can offer our clients attorney-client privilege in the process which is not available from other many other tax preparers.
We have over 205 years of professional tax experience and over 60 years working for the Internal Revenue Service in the local, district and regional offices of the IRS.
Call us today and speak directly to a tax professional and relief your Ex- Pat worries.
by Fresh Start Tax | Jun 20, 2012 | Back Taxes, IRS Tax Debt, IRS Tax Problem, Offer in Compromise, Tax Lawyer
With the new Fresh Start Program offered by the Internal Revenue Service the IRS will find itself flooded with hoards of new offers in compromise also called tax debt settlements so taxpayers can reduce and settle their tax debt with the IRS.
This new program will offer literally thousands of taxpayers a way out that was never afforded to them before.
The old program offered little in the way of a tax settlement. About 15,000 thousand cases were accepted each year out of the 55,000 offers in compromise filed.
I would expect that number of offers in compromise to triple this year. IRS will not have the manpower to keep up with the demand of the new offer in compromise settlements.
The main components of the new Offer in Compromise
The IRS looks at two major aspects;
1.Income and
2. Assets, they care little on your debt situation. Some rules have loosen and each case is based on it own merit.
IRS will investigate four major issues to accept your offer in compromise
The four components of collectibility:
1.net equity in assets,
2.present and future income,
3.amounts collectible from third parties,
4. and amounts available to the taxpayer but beyond the reach of the IRS)
IRS will determine the total asset value of all assets and what is called reasonable collection potential in regards to your present income.IRS adds the two together and comes up with a settlement proposal.
After the IRS reviews your 433 OIC and your 656 the IRS will assign a detailed evaluation of the case and send to you a proposed settlement based on the offer in compromise you turned in along with the financial statement that you provided.
You can have former IRS agents and managers pre-qualify your offer in compromise or your tax debt settlement.
We will provide a free analysis so your do not get ripped off by other tax resolution companies.
You will have Former IRS Agents who were offer in compromise specialists give you a detailed review of the your offer in compromise before it is sent in.
Get free advice on your tax debt settlement.
Call us today for free tax consult. 1-866-700-1040
by Fresh Start Tax | Jun 19, 2012 | Back Taxes, Expatriate Tax, Income Tax Preparation, Tax Help, Tax Returns
We are a Christian Tax Firm <>< specializing in Expatriates tax situations, tax problems and tax resolutions.
We have on staff Christian Tax Attorneys, CPA’s and Former IRS Agents.
We have over 205 years of professional tax experience and over 60 years working directly for the IRS in the local, district and regional IRS offices.
We are IRS tax experts in all Expatriate Tax Problems.
Christian Tax Help – How do you discern godly counsel?
Psalm 37:30 The godly offer good counsel, they know what is right from wrong.
If you need to file a income tax return or have to file back taxes for unfiled years call us today for a free tax consultation.
Should you owe back taxes we can work out a tax settlement called the offer in compromise.
We will give you good solid Biblical Advice.
We are on Christian Radio and you can hear us on Grace FM and fully support REACH FM.
Penalty imposed for not filing expatriation form – Penalty for Non Filing
Anyone who has expatriated or terminated his U.S. residency status must file Form 8854.
Form 8854 must also be filed to comply with the annual information reporting requirements of Internal Revenue Code section 6039G, if the person is subject to tax under Section 877 of the Code. A $10,000 penalty may be imposed for failure to file Form 8854 when required.
IRS is sending notices to expatriates that have not complied with the Form 8854 requirements, including the imposition of the $10,000 penalty where appropriate.
The Instructions for Form 8854 (PDF) provide details about the filing requirements, related definitions and line-by-line instructions for completing the form. Failure to file or not including all the information required by the form or including incorrect information could lead to a penalty.
If this has happened to you and you need to get penalties and interest abated or removed call us today to see if you have reasonable cause to abate the penalties and interest.
Christian Tax Help – Expatriates Tax Problems – Tax Returns, Settlements – Tax Attorneys, CPAs, Former IRS
