by steve | Mar 8, 2011 | IRS Tax Advice, Tax News
Fresh Start Tax LLC An Affordable Professional Tax Firm practicing Tax Law.
Since 1982 in the State of Florida.
We have an “A”Plus Rating with the BBB.
We are licensed and certified by the Internal Revenue Service.
Are you looking for Immediate Tax Relief ?
We are uniquely qualified in the area of IRS Representation and Tax Relief to take care of any IRS Problem you may have.
We have on staff Board Certified Tax Attorneys, CPA’s and more importantly former IRS Agents, Managers and former IRS Instructors who taught tax law to all the IRS Agents at the district and regional levels in the State of Florida.
We have 140 years direct tax experience.
There is no tax firm in the State of Florida with more experienced to handle Tax Relief.
Areas of Tax Practice
- Immediate Tax Representation
- Offers in Compromise/Settlements
- Immediate Release of Bank Garnishments or Wage Levies
- IRS Notices/Bill of Intent to Levy or Final Notices
- IRS Tax Audits, Large and Small Dollar
- Hardships Cases, Payment Plans, Installment Agreements
- Innocent Spouse Relief
- Abatement of Penalties and Interest
- State Sales Tax Cases
- Trust Fund Penalty Cases/6672
- Non-filers, never filed, old and past due tax returns
How we work your case to immediately resolve your IRS matter and get you Tax Relief:
1. We immediately send a power of attorney to the IRS letting them know we are now your representative. You will never have to speak to the IRS.
2. We will make sure your tax returns are filed and current. If your tax returns are not up to date, IRS will refuse to work your case. This is leverage that the IRS uses to get you compliant. We can pull tax transcripts, file and prepare your tax returns within days.
3. IRS requires a current financial statement. We will secure a required 433-F (IRS financial statement), verify the income and expenses and work out a settlement agreement. IRS will require a closing settlement method for each case.
4. Settlement agreements can be in different forms:
a. Hardship Settlements. Cases usually go into a 3 year suspended status because of an inability to pay. This is also called currently noncollectable. Your case will go into a hardship status because you do not have the income coming in to met your current expenses. IRS will use the National Standards Program to assess hardship.
b. Payment Agreements. Cases can be closed with agreed upon monthly installment payments to the IRS. We will review the different programs IRS uses for the lowest possible amount required.
c. Offer in Compromise. There are three types of OICs:
1. Doubt as to Collectibility – Doubt exists that the taxpayer could ever pay the full amount of tax liability owed within the remainder of the statutory period for collection.
2. Doubt as to Liability – A legitimate doubt exists that the assessed tax liability is correct.
3. Effective Tax Administration – There is no doubt that the tax is correct and there is potential to collect the full amount of the tax owed, but an exceptional circumstance exists.
5. Call us for a free tax consultation. Free video conferencing is also available.
by steve | Mar 8, 2011 | IRS Tax Advice, Tax News
Are you looking to get the Federal Tax Levy on your bank account or wage levy released immediately?
The IRS serves about 3.8 million tax levies a year. They get the levy information from your tax return or from third party sources that have reported tax information on you, such as your employer via W-2 or a bank that you have used. The bank reports the information on a 1099 interest form and sends it to the IRS.
Follow these golden tips to get your levy released as soon as possible:
As soon as you get your notice of levy, be prepared to call the IRS. However, before you start make sure all your tax returns are filed. If your tax returns are not filed and up to date, the IRS will not release the federal tax levy on your bank account or your wage levy until they have proof that your tax returns are filed.
The IRS uses the leverage of the levy to make sure all your tax returns are filed.
What happens if you do not have your tax records to prepare your tax returns? Simply request transcripts by calling 1-800-908-9946. Ask the IRS for your income transcripts. They will send you all the reported income they have on file that has matched your social security number.
This is only information the IRS has on file. You may have had other income and want to hire a former IRS Agent who knows how to prepare reconstructive tax returns to get your returns processed as soon as possible. Fill out a 433-F. This is an IRS financial statement. The IRS will want all documentation to prove the income and expenses that you list on the financial statement. After you have all that ready, call the IRS at the number shown on your Federal Tax Levy. Once they have the financial statement they will be able to give you a settlement based on the information provided. The IRS usually closes their cases in one of 3 ways:
- IRS will put your case in Hardship
- IRS will set up a payment plan
- IRS will accept the filing of an offer in compromise.
There are many traps and tricks the IRS uses to discover income and assets. After working for the IRS for 10 years and being a former IRS Instructor, you should not give the financial statement to the IRS unless a seasoned professional gives you the go ahead. It must be accurate.
In essence, once all tax returns are filed and you have your 433-F and all the documentation ready to go, call the IRS and start the negotiation process to settle and close your case.
by steve | Mar 8, 2011 | IRS Tax Advice, Tax News
Fresh Start Tax LLC An Affordable Professional Tax Firm specializing in IRS Debt Tax Relief and back taxes,
Since 1982. Rated “A” Plus by the Better Business Bureau
Fresh Start Tax LLC is a Florida Tax Firm with its principles practicing Tax Law since 1982.
Our firm is uniquely qualified to handle all your IRS problems.
We have 140 years of professional tax experience and over 60 years of working for the IRS.
On staff are Board Certified Tax Lawyers, CPA’s, and former IRS Agents and Managers who worked in the local Florida field and regional offices.
We also have on staff former IRS teaching instructors who taught tax law to new IRS Agents.
We are one of the most experienced and trusted firms in the State of Florida
We are IRS Tax Experts Lawyer
- Immediate Tax Representation
- Offers in Compromise/Settlements
- Immediate Release of Bank Garnishments or Wage Levies
- IRS Notices/Bill of Intent to Levy or Final Notices
- IRS Tax Audits, Large and Small Dollar
- Hardships Cases, Payment Plans, Installment Agreements
- Innocent Spouse Relief
- Abatement of Penalties and Interest
- State Sales Tax Cases
- Trust Fund Penalty Cases/6672
- Non-filers, never filed, old and past due tax returns
- IRS Expert Tax Lawyer
How we handle your IRS case:
- We obtain all the information from our clients and get an accurate description of the problem.
- We immediately send a power of attorney to the IRS so you never have to speak to them.
- We immediately have the IRS stop all of their enforcement action with that first call.
- We make sure the tax liability is correct by pulling tax transcripts and documents from the IRS’ computer.
- We file any returns that the IRS needs to get you current. All tax returns must be filed before the IRS will consider any agreements.
- We make sure your case is settled for the lowest possible amount allowed by law by going over all the different options that are available to you.
by steve | Mar 7, 2011 | IRS Tax Advice, Tax News
Fresh Start Tax LLC An AFFORDABLE Professional Florida Tax Firm, since 1982, professionals practicing IRS Tax Law in the State of Florida.
One of Florida’s most trusted and experienced tax firms.
Rated “A” Plus by the Better Business Bureau. 205 years of professional IRS experience.
We have over 60 years of working directly for the Internal Revenue Service and the local, district, and regional tax offices of the IRS.
If you need immediate IRS Tax Relief we can get you immediate tax relief and get you results the day we represent you.
Being former IRS Agents and Managers we know every trick and strategy to get you the results you need. why would you hire anybody but those you taught the system at the IRS.
We are the most trusted and experienced IRS Tax Firm in the State of Florida. We get immediate irs tax relief
IRS Problems Areas, get IRS Relief Today
- Immediate Tax Representation
- Offers in Compromise/Settlements
- Immediate Release of Bank Garnishments or Wage Levies
- IRS Notices/Bill of Intent to Levy or Final Notices
- IRS Tax Audits, Large and Small Dollar
- Hardships Cases, Payment Plans, Installment Agreements
- Innocent Spouse Relief
- Abatement of Penalties and Interest
- State Sales Tax Cases
- Trust Fund Penalty Cases/6672
- Non-filers, never filed, old and past due tax returns
- Immediate IRS Tax Relief
Do your homework before hiring a Professional Tax Firm.
Make sure they have on staff Board Certified Tax Attorneys, Lawyers, CPA’s, Former IRS Agents and Managers. Also, check the following to ensure the creditability and history of the TAX FIRM.
1. Better Business Bureau – www.bbb.org/us/Find-Business-Reviews
2. Complaints.com – www.complaintsboard.com
3. Rip Off Report – http://www.ripoffreport.com/
Owe Back Taxes + IRS Tax Debt Relief Settlements + Remove Levy + Release Tax Garnishments, IRS Payment Plans + Settlements + Audits + Appeals = Tampa , Orlando, Jacksonville
by steve | Mar 7, 2011 | IRS Tax Advice, Tax News
Fresh Start Tax LLC A Professional Tax Firm Former IRS Agents and Managers, handle all IRS Problems
Seven Tips About Rental Income and Expenses
Do you rent property to others? If so, you’ll want to read the following seven tips from the IRS about rental income and expenses.
You generally must include in your gross income all amounts you receive as rent. Rental income is any payment you receive for the use of or occupation of property. Expenses of renting property can be deducted from your gross rental income. You generally deduct your rental expenses in the year you pay them. Publication 527, Residential Rental Property, includes information on the expenses you can deduct if you rent property.
When to report income. You generally must report rental income on your tax return in the year that you actually receive it.
Advance rent. Advance rent is any amount you receive before the period that it covers. Include advance rent in your rental income in the year you receive it, regardless of the period covered.
Security deposits. Do not include a security deposit in your income when you receive it if you plan to return it to your tenant at the end of the lease. But if you keep part or all of the security deposit during any year because your tenant does not live up to the terms of the lease, include the amount you keep in your income in that year.
Property or services in lieu of rent. If you receive property or services, instead of money, as rent, include the fair market value of the property or services in your rental income. If the services are provided at an agreed upon or specified price, that price is the fair market value unless there is evidence to the contrary.
Expenses paid by tenant. If your tenant pays any of your expenses, the payments are rental income. You must include them in your income. You can deduct the expenses if they are deductible rental expenses. See Rental Expenses in Publication 527, for more information.
Rental expenses. Generally, the expenses of renting your property, such as maintenance, insurance, taxes, and interest, can be deducted from your rental income.
Personal use of vacation home. If you have any personal use of a vacation home or other dwelling unit that you rent out, you must divide your expenses between rental use and personal use. If your expenses for rental use are more than your rental income, you may not be able to deduct all of the rental expenses.
From the IRS News Wire Services for all clients,
by steve | Mar 7, 2011 | IRS Tax Advice, Tax News
Fresh Start Tax LLC Former IRS Agents and Managers “A” Rated by the BBB
Ten Things to Know About the Child and Dependent Care Credit
If you paid someone to care for your child, spouse, or dependent last year, you may be able to claim the Child and Dependent Care Credit on your federal income tax return. Below are 10 things the IRS wants you to know about claiming a credit for child and dependent care expenses.
The care must have been provided for one or more qualifying persons. A qualifying person is your dependent child age 12 or younger when the care was provided. Additionally, your spouse and certain other individuals who are physically or mentally incapable of self-care may also be qualifying persons. You must identify each qualifying person on your tax return.
The care must have been provided so you – and your spouse if you are married filing jointly – could work or look for work.
You – and your spouse if you file jointly – must have earned income from wages, salaries, tips, other taxable employee compensation or net earnings from self-employment. One spouse may be considered as having earned income if they were a full-time student or were physically or mentally unable to care for themselves.
The payments for care cannot be paid to your spouse, to the parent of your qualifying person, to someone you can claim as your dependent on your return, or to your child who will not be age 19 or older by the end of the year even if he or she is not your dependent. You must identify the care provider(s) on your tax return.
Your filing status must be single, married filing jointly, head of household or qualifying widow(er) with a dependent child.
The qualifying person must have lived with you for more than half of 2010. There are exceptions for the birth or death of a qualifying person, or a child of divorced or separated parents. See Publication 503, Child and Dependent Care Expenses.
The credit can be up to 35 percent of your qualifying expenses, depending upon your adjusted gross income.
For 2010, you may use up to $3,000 of expenses paid in a year for one qualifying individual or $6,000 for two or more qualifying individuals to figure the credit.
The qualifying expenses must be reduced by the amount of any dependent care benefits provided by your employer that you deduct or exclude from your income.
If you pay someone to come to your home and care for your dependent or spouse, you may be a household employer and may have to withhold and pay social security and Medicare tax and pay federal unemployment tax. See Publication 926, Household Employer’s Tax Guide.
