Fresh Start Tax, LLC “A” Rated by the Better Business Bureau A Professional Firm specializing in IRS Tax Issues and Problems relating to gambling issues.
We are former IRS Agents and Managers who worked for the IRS Audit and Collection Programs. We are one of the most experienced tax firms when it comes to IRS tax problems in the area of gambling issues.
We have over 140 years experience and over 60 years of working for the IRS.
The following rules apply to casual gamblers.
Gambling winnings are fully taxable and must be reported on your tax return. You must file Form 1040 and include all of your winnings. Gambling income includes, but is not limited to, winnings from lotteries, raffles, horse races, and casinos. It includes cash winnings and also the fair market value of prizes such as cars and trips. For additional information, refer to Publication 525, Taxable and Nontaxable Income.
A payer is required to issue you a Form W-2G if you receive certain gambling winnings or if you have any gambling winnings subject to Federal income tax withholding. All gambling winnings must be reported on your Form 1040, including winnings that are not subject to withholding. In addition, you may be required to pay an estimated tax on your gambling winnings. For information on withholding on gambling winnings, refer to Publication 505, Tax Withholding and Estimated Tax.
You may deduct gambling losses only if you itemize deductions. However, the amount of losses you deduct may not be more than the amount of gambling income reported on your return. Claim your gambling losses on Form 1040, Schedule A, as a miscellaneous itemized deduction that is not subject to the 2% limit.
It is important to keep an accurate diary or similar record of your gambling winnings and losses. To deduct your losses, you must be able to provide receipts, tickets, statements or other records that show the amount of both your winnings and losses. Refer to Publication 529, Miscellaneous Deductions, for more information.
Fresh Start Tax LLC 1-866-700-1040 “A” Rated by the Better Business Bureau A National Professional Tax Firm Since 1982
Former IRS Agents and Managers as well as former IRS Instructors on Gambling Winnings and Losses. Gambling winnings IRS Problems and IRS Gambling audit
Do you have IRS issues/problems with gambling winnings and losses? Call former IRS Agents who worked the gambling programs when employed by the IRS.
We know all the tips and techniques to get you the fair results so the IRS does not beat you up.
Facts about Gambling Winnings:
Gambling winnings are fully taxable and must be reported on your tax return. Here are the top seven facts the Internal Revenue Service wants you to know about gambling winnings.
1. Gambling income includes – but is not limited to – winnings from lotteries, raffles, horse and dog races and casinos, as well as the fair market value of prizes such as cars, houses, trips or other non cash prizes.
2. Depending on the type and amount of your winnings, the payer might provide you with a Form W-2G and may have withheld federal income taxes from the payment.
3. The full amount of your gambling winnings for the year must be reported on line 21 of IRS Form 1040. You may not use Form 1040A or 1040EZ. This rule applies regardless of the amount and regardless of whether you receive a Form W-2G or any other reporting form.
4. If you itemize deductions, you can deduct your gambling losses for the year on line 28 of Schedule A, Form 1040.
5. You cannot deduct gambling losses that are more than your winnings.
6. It is important to keep an accurate diary or similar record of your gambling winnings and losses.
7. To deduct your losses, you must be able to provide receipts, tickets, statements or other records that show the amount of both your winnings and losses.
Our Company Resume: ( Since 1982 )
Our staff has over 140 years of professional tax representation experience collectively
On staff, Board Certified Tax Attorney’s, Certified Public Accountants, Enrolled Agents,
Former IRS Managers, Instructors and Trainers
Highest Rating by the Better Business Bureau “A”
Extremely ethical and moral
Fast, affordable, and economical
Licensed to practice in all 50 States
Premium on client communication
Nationally Recognized Veteran Former IRS Agent
Nationally Recognized Published Tax Expert
As heard on 90.3 FM Monthly Radio Show, You and the IRS
Local South Florida Tax Representation from true tax experts!
Have Former IRS agents and managers represent you before the IRS. We know the system.
Fresh Start Tax LLC 954-492-0088 “A” Plus Rated by the Better Business Bureau A Local South Florida Professional Tax Firm
Are you looking for IRS tax professional tax representation? Call South Florida’s most experienced and trusted tax firm. We have a combined 205 years of IRS representation within our professional tax staff.
The firm is comprised of Board Certified Tax Attorneys, Lawyers, CPA’s and former IRS Agents and Managers who worked out of the local South Florida IRS Tax Offices.
We have been representing taxpayers in South Florida since 1982. We are South Florida’s most experienced tax firm on IRS representation matters and issues.
Please feel free to call us for a free tax consultation. We have successfully represented thousands of taxpayers in the last 40 years.
Area of expertise:
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
Fresh Start Tax LLC 954-492-0088 “A” Rated by the Better Business Bureau A Local Professional Tax Firm practicing in South Florida. The principles have been practicing tax law in South Florida since 1982.
Why are we the very best? You will want to hire our tax firm because of our experience and track record.
We have over 140 years of direct IRS tax experience, 60 years of working for the IRS at the local South Florida IRS offices as managers and agents. On staff are Board Certified Tax Attorneys, Lawyers, CPA, and former IRS Agents.
We are the most trust tax firm in South Florida. Call us for a free consultation.
We have been practicing tax law and IRS trouble issues since 1982 right here in South Florida and we are “A” Rated by the BBB.
Area of expertise:
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
If you’ve changed your home or business address, make sure you update that information with the IRS to ensure you receive any refunds or correspondence. The IRS offers five tips for taxpayers that have moved or are about to move:
1. Change Your IRS Address Records. You can change your address on file with the IRS in several ways:
Write the new address in the appropriate boxes on your tax return;
Use Form 8822, Change of Address, to submit an address or name change any time during the year;
Give the IRS written notification of your new address by writing to the IRS center where you file your return. Include your full name, old and new addresses, Social Security Number or Employer Identification Number and signature. If you filed a joint return, be sure to include the information for both taxpayers. If you filed a joint return and have since established separate residences, each spouse should notify the IRS of their new address; and should an IRS employee contact you about your account, you may be able to verbally provide a change of address.
2. Notify Your Employer. Be sure to also notify your employer of your new address so you get your W-2 forms on time.
3. Notify the Post Office. If you change your address after you’ve filed your return, don’t forget to notify the post office at your old address so your mail can be forwarded.
4. Estimated Tax Payments. If you make estimated tax payments throughout the year, you should mail a completed Form 8822, Change of Address, or write the IRS campus where you file your return. You may continue to use your old pre-printed payment vouchers until the IRS sends you new ones with your new address. However, do not correct the address on the old voucher.
5. Postal Service. The IRS does use the Postal Service’s change of address files to update taxpayer addresses, but it’s still a good idea to notify the IRS directly.
Fresh Start Tax, LLC 954-492-0088 “A” Plus Rated by the Better Business Bureau A Local South Florida Professional Tax Firm
Are you experiencing an IRS Problem? Do you owe monies to the IRS?
Are you being audited by the IRS?
Call us today for immediate IRS Tax Assistance. We handle all IRS issues and tax matters. We are uniquely qualified to handle IRS Problems.
We are comprised of Board Certified tax Attorneys, CPAs, and more importantly former IRS Agents and Managers who worked out of the local South Florida IRS offices.
We have over 140 years of IRS tax experience and have worked at the local South Florida IRS offices for more than 60 years. Our principles have been practicing tax law since 1982 right here in South Florid
Call us today for a free tax consultation.
Fresh Start Tax is one of the premier tax resolution firms in South Florida. We deal with all types of civil cases including individuals, businesses, non-profits, partnerships and corporations.
We have staff that specialize in every facet of IRS representation.
We know all the IRS tax strategies because of our extensive IRS working backgrounds.
Some of our many specialties include the following:
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
