by steve | Jan 31, 2011 | IRS Tax Advice
Settle Your IRS Problem – Best Tips from Former IRS Agents
Many taxpayers get a tax refund from the IRS each year. However, if you owe tax, here are 10 free tips to deal with your problem.
Tip #1 – If you get a bill for late taxes, you are expected to promptly pay all the taxes owed including any additional penalties and interest. If you are unable to pay the amount due, it is often in your best interest to get a loan or borrow the funds to pay the bill in full rather than to make installment payments to the IRS.
Tip #2 – You can pay the IRS with your credit card. Plus you get points by using your credit card. To pay by credit card contact Official Payments Corporation at 800-2PAYTAX, www.officialpayments.com, Link2Gov at 888-PAY-1040 or www.pay1040.com. It is usually cheaper to owe the credit card company than Uncle Sam.
Tip #3 – The interest rate on a credit card or bank loan may be lower than the combination of interest and penalties imposed by the Internal Revenue Service. The IRS charges a failure to pay penalties which is in addition to the interest, which makes paying the tax even tougher.
Tip #4 – You can also pay the balance owed by electronic funds transfer (EFT), check, money order, cashier’s check or cash. The IRS loves cash (do not send cash by mail). To pay by using EFT you can take advantage of the Electronic Federal Tax Payment System by calling 800-555-4477 or 800-945-8400 or online at www.eftps.gov.
Tip #5 – An installment agreement may be requested if you cannot pay the liability in full. This is an agreement between you and the IRS for the collection of the amount due in equal monthly payments. To be eligible for an installment agreement, you must be current with the filing of all your tax returns and be current with estimated tax payments if you do not have withholding. If the tax debt is over $25,000., the IRS will require a documented financial statement, Form 433-F to be sent in and reviewed by an agent at one of the Service Centers.
Tip #6 – If you owe $25,000 or less in combined tax, penalties and interest, you can request an installment agreement using the web-based application called Online Payment Agreement found at IRS.gov. This is very simple and painless.
Tip #7. – You can also complete and mail an IRS Form 9465, Installment Agreement Request, along with your bill in the envelope that you have received from the IRS. The IRS will inform you usually within 30 -45 days whether your request is approved, denied, or if additional information is needed. If the amount you owe is $25,000 or less, provide the monthly amount you wish to pay with your request. If the monthly amount you request will pay the IRS debt in full within 60 months it will probably be allowed without completing a Collection Information Statement, Form 433-A or 433-F. The IRS will require additional information if the debt takes over 60 months to pay off.
You may still qualify for an installment agreement if you owe the IRS more than $25,000, but a Form 433-F, Collection Information Statement, is required to be completed before an installment agreement can be considered. The 433-F is used by the ACS Unit to determine your financial ability to pay. If your balance is over $25,000, the IRS will consider your financial situation and propose the highest amount possible. Fresh Start Tax can help negotiate your installment agreement. We will fight to get you the lowest payment possible based on your financial information.
Tip#8 – If an agreement is approved, a one-time user fee will be charged. The user fee for a new agreement is $105 or $52 for agreements where payments are deducted directly from your bank account. For eligible individuals with incomes at or below certain levels, a reduced fee of $43 will be charged. The reduced fee is automatically figured based on your income.
Tip #9 – Make sure your withholding is adjusted so you do not have the same problem in future years.
Tip #10 – For complicated situations or high dollar cases, call a tax professional.
by steve | Jan 30, 2011 | IRS Tax Advice
Fresh Start Tax 1-866-700-1040 A Professional Tax Firm “A” Rated Tax Firm
Fresh Start Tax LLC is a professional tax firm specializing in IRS Tax Relief and Representation. We have over 140 years of direct tax experience and over 60 years of working directly for the IRS.
We handle all IRS tax appeals.Call us for a free consultation or Skype us today.
The IRS provides an appeals system for those who do not agree with the results of a tax return examination or with other adjustments to their tax liability. Here are the top seven things to know when it comes to your appeal rights.
1. When the IRS makes an adjustment to your tax return, you will receive a report or letter explaining the proposed adjustments. This letter will also explain how to request a conference with an Appeals office should you not agree with the IRS findings on your tax return.
2. In addition to tax return examinations, many other tax obligations can be appealed. You may also appeal penalties, interest, trust fund recovery penalties, offers in compromise, liens and levies.
3. You are urged to be prepared with appropriate records and documentation to support your position if you request a conference with an IRS Appeals employee.
4. Although Appeals conferences are informal meetings and you can represent yourself, you have the right to representation. Those allowed to represent taxpayers include attorneys, certified public accountants, or enrolled agents (individuals who have been enrolled to practice before the IRS.) See IRS Publication 1, “Your Rights as a Taxpayer” for more information about representation.
5. The IRS Appeals Office is separate from and independent of the IRS office taking the action you may disagree with. The Appeals Office is the only level of administrative appeal within the agency.
6. All tax appeals must be made on a timely basis or you lose your right to appeal.
7. Hiring a professional tax firm gives you your best chance of winning your case.
8. If you do not reach agreement with IRS Appeals or if you do not wish to appeal within the IRS, you may appeal certain actions through the courts.
Our Company Resume: ( Since 1982 )
- Our staff has over 135 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
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- As heard on 90.3 FM Monthly Radio Show, You and the IRS
6. If you do not reach agreement with IRS Appeals or if you do not wish to appeal within the IRS, you may appeal certain actions through the courts.
by steve | Jan 30, 2011 | IRS Tax Advice
Fresh Start Tax 1-866-700-1040 A Professional Tax Firm “A” Rated by the BBB
Forms about Your Appeal Rights
A Form 843 is submitted to claim a refund (or abatement) of certain overpaid (or over-assessed) taxes, interest, penalties, and additions to tax.
Form 2751, Proposed Assessment of Trust Fund Recovery Penalty
A Form 2751 is used to show the corporate liability data for a proposed trust fund recovery penalty assessment.
Form 8836, Qualifying Children Residency Statement
A Form 8836 is filed with the IRS to show that you and your qualifying child meet the residency test for the earned income credit (EIC).
Form 9423, Collection Appeal Request
A Form 9423 is used to appeal a collection action. Using this form, you may request an appeal of the following actions: notice of federal tax lien, levy, seizure, or termination of an installment agreement.
Form 12203, Request for Appeals Review
This form can be used to request an Appeals review of a proposed IRS adjustment of $25,000 or less per tax year or period.
Form 12153, Request for a Collection Due Process Hearing
A Form 12153 is used to request a collection due process hearing under IRC 6320 and IRC 6330.
Form 12509, Statement of Disagreement
You can use this form to explain why you disagree with the Internal Revenue Service (IRS) Determination concerning relief from joint and several liability for a joint return under Internal Revenue Code sections 6013(e), 6015(b), 6015(c), or 6015(f) in the letter you received with this form.
by steve | Jan 29, 2011 | IRS Tax Advice
Fresh Start Tax 1-866 700-1040 A Professional Tax Firm “A” Rated by the BBB
Did you know that you can stop a tax levy immediately? If you have just received a notice from the IRS threatening a tax levy, our firm can immediately suspend or place your case on hold so we have time to negotiate with the IRS.
We can stop the IRS Levy Today.
We are Former IRS Agents, Managers and Tax Instructors with the IRS. Our firm has over 140 years of IRS tax experience. We can not only stop the IRS Levy but close your case as well.
FOR LIENS, LEVIES, SEIZURES, AND DENIAL OR TERMINATION OF INSTALLMENT AGREEMENT:
You may appeal a Notice of Federal Tax Lien, levy, seizure, or denial or termination of an installment
agreement under these procedures. However, if you request an appeal after IRS makes a seizure, you must appeal to
the Collection manager within 10 business days after the Notice of Seizure is provided to you or left at your home or
business.
How Fresh Start Tax Appeals If You Disagree With One of These Actions:
1. If you disagree with the decision of the Revenue Officer, and wish to appeal, you must first request a conference with a Collection Manager.
2. If you do not resolve your disagreement with the Collection manager, you may request Appeals
consideration by completing Form 9423, Collection Appeal Request.
3. On the Form 9423, check the Collection action(s) you disagree with and explain why you disagree. You must also
explain your solution to resolve your tax problem.
THE COLLECTION OFFICE MUST RECEIVE YOUR REQUEST FOR AN APPEAL WITHIN 2 DAYS OF YOUR CONFERENCE WITH THE COLLECTION MANAGER OR WE WILL RESUME COLLECTION ACTION.
What will happen when you appeal your case:
Normally, we will stop the collection action(s) you disagree with until your appeal is settled, unless we have reason to
believe that collection of the amount owed is at risk.
Decision on the appeal:
Once the Appeals Officer makes a decision on your case, that decision is binding on both you and the IRS. This means that both you and the IRS are required to accept the decision and live up to its terms.
by steve | Jan 29, 2011 | IRS Tax Advice
Fresh Start Tax 1-866 700-1040 A Professional Tax Firm “A” Rated by the BBB
We are Former IRS Agents, Managers and Tax Instructors with the IRS. Our firm has over 140 years of IRS tax experience.
Do you need to file an appeal with the IRS to stop IRS liens, levies or tax seizures, call us today.
You have Collection Appeal Rights
FOR LIENS, LEVIES, SEIZURES, AND DENIAL OR TERMINATION OF INSTALLMENT AGREEMENT:
You may appeal a Notice of Federal Tax Lien, levy, seizure, or denial or termination of an installment
agreement under these procedures. However, if you request an appeal after IRS makes a seizure, you must appeal to
the Collection manager within 10 business days after the Notice of Seizure is provided to you or left at your home or
business.
How Fresh Start Tax Appeals If You Disagree With One of These Actions:
1. If you disagree with the decision of the Revenue Officer, and wish to appeal, you must first request a conference with a Collection Manager.
2. If you do not resolve your disagreement with the Collection manager, you may request Appeals
consideration by completing Form 9423, Collection Appeal Request.
3. On the Form 9423, check the Collection action(s) you disagree with and explain why you disagree. You must also
explain your solution to resolve your tax problem.
THE COLLECTION OFFICE MUST RECEIVE YOUR REQUEST FOR AN APPEAL WITHIN 2 DAYS OF YOUR CONFERENCE WITH THE COLLECTION MANAGER OR WE WILL RESUME COLLECTION ACTION.
What will happen when you appeal your case:
Normally, we will stop the collection action(s) you disagree with until your appeal is settled, unless we have reason to
believe that collection of the amount owed is at risk.
Decision on the appeal:
Once the Appeals Officer makes a decision on your case, that decision is binding on both you and the IRS. This means that both you and the IRS are required to accept the decision and live up to its terms.
by steve | Jan 29, 2011 | IRS Tax Advice
Fresh Start Tax- Audit proof your tax return with us today!!
Want Your Tax Refund Fast – Choose Direct Deposit
Direct Deposit is the fastest, safest way to receive your tax refund. An e-filed tax return means a fast refund. Taxpayers who combine e-file and Direct Deposit can get their refunds in as few as 10 days.
Here are four reasons more than 73 million taxpayers chose Direct Deposit in 2010:
Security Thousands of paper checks are returned to the IRS by the U.S. Post Office every year as undeliverable mail. Direct Deposit eliminates the possibility of your refund check being lost, stolen or returned to the IRS as undeliverable.
Convenience The money goes directly into your bank account. You won’t have to make a special trip to the bank to deposit the money yourself.
Ease When you’re preparing your return; simply follow the instructions on your return. Make sure you enter the correct bank account and bank routing numbers on your tax form and you’ll receive your refund quicker than ever.
Options You can deposit your refund into multiple accounts. With the split refund option, taxpayers can divide their refunds among as many as three checking or savings accounts and up to three different U.S. financial institutions. Use IRS Form 8888, Allocation of Refund (Including Savings Bond Purchases), to divide your refund. A word of caution: Some financial institutions do not allow a joint refund to be deposited into an individual account. Check with your bank or other financial institution to make sure your Direct Deposit will be accepted.
For more information about direct deposit of your tax refund and the split refund option, check the instructions for your tax form. Helpful tips are also available in IRS Publication 17, Your Federal Income Tax. To get a copy of Publication 17 or Form 8888, visit the IRS Forms and Publications section at http://www.irs.gov or call 800-TAX-FORM (800-829-3676).
