by steve | Jul 25, 2010 | IRS Tax Advice
Received an IRS Notice of Intent to Levy * Call Fresh Start Tax at 1.866.700.1040 * Immediate Results * Guaranteed Results * BBB highest rated A plus
FRESHSTARTTAX.COM
If you have received a certified or regular mail notice from the IRS that says, “Notice of Intent to Levy”, we can stop that action usually within one day. The following procedure must be followed. We immediately send over a Power of Attorney to the Internal Revenue Service and let them know we are your legal representative. At this point, they can no longer speak with you. The law forbids them to contact you. We are placed in your stead. As we begin the process, we will give the necessary documents to the Internal Revenue Service to cease and desist all action. We do this by making sure all of your tax returns are filed. They do not have to be paid, but they must be filed. We will then discuss with you the best option and plan that is right for your situation. After we come to an agreement of the right solution, the next and final step is to complete a 433-F form and then call the IRS. Your case will close in one of the following ways:
* Part pay agreement
* Streamline agreement
* Currently not collectible or hardship also called CNC
* Offer in compromise
* A possible Chapter 7
* In some cases, you can wait out the statue of limitation which is ten years from the date of the assessment
We will have the right solution to fix your problem today.!!!!!!!!!!!
The staff at Fresh Start Tax has over 100 years in the professional tax industry and is composed of tax attorneys, CPAs, former IRS agents and instructors. We have helped thousands of clients over the past 28 years in our professional tax practice. We can take away your problem today. Check us out on the web.
FRESHSTARTTAX.COM
1-866-700-1040 HIGHEST BBB RATING POSSIBLE Former Agents will work and resolve your case guaranteed!!!
by steve | Jul 24, 2010 | IRS Tax Advice
IRS Military Tax Tips
Summer is a busy time for everyone, but particularly for military members and their families. Whether it’s moving to a new base or traveling to a duty station, members of the military have many obligations that could impact their tax situation. Here are 10 IRS tax tips military members should keep in mind this summer to help with filing a tax return next year.
Moving Expenses If you are a member of the Armed Forces on active duty and you move because of a permanent change of station, you can deduct the reasonable unreimbursed expenses of moving you and members of your household.
Combat Pay If you serve in a combat zone as an enlisted person or as a warrant officer for any part of a month, all your military pay received for military service that month is not taxable. For officers, the monthly exclusion is capped at the highest enlisted pay, plus any hostile fire or imminent danger pay received.
Extension of Deadlines The time for taking care of certain tax matters can be postponed. The deadline for filing tax returns, paying taxes, filing claims for refund, and taking other actions with the IRS is automatically extended for qualifying members of the military.
Uniform Cost and Upkeep If military regulations prohibit you from wearing certain uniforms when off duty, you can deduct the cost and upkeep of those uniforms, but you must reduce your expenses by any allowance or reimbursement you receive.
Joint Returns Generally, joint returns must be signed by both spouses. However, when one spouse may not be available due to military duty, a power of attorney may be used to file a joint return.
Travel to Reserve Duty If you are a member of the US Armed Forces Reserves, you can deduct unreimbursed travel expenses for traveling more than 100 miles away from home to perform your reserve duties.
ROTC Students Subsistence allowances paid to ROTC students participating in advanced training are not taxable. However, active duty pay ? such as pay received during summer advanced camp ? is taxable.
Back to Civilian Life You may be able to deduct some costs you incur while looking for a new job. Expenses may include travel, resume preparation fees, and outplacement agency fees. Moving expenses may be deductible if your move is closely related to the start of work at a new job location, and you meet certain tests.
Tax Help Most military installations offer free tax filing and preparation assistance during the filing season.
CALL THE TAX PROS FORMER IRS AGENTS, SUPERVISORS, CPA’S, BOARD CERTIFIED TAX ATTORNEY’S FOR REASONABLE FEES. 1-866-700-1040
by steve | Jul 23, 2010 | Florida Sales Tax, IRS Tax Advice
Owe Sales Tax or IRS Taxes?
Call the Tax Professionals at Fresh Start Tax today. 1-866-700-1040.
There are few companies in the workplace today that offer the expertise that Fresh Start Tax can give their clients.
Our company has former IRS Agents and Former Department of Revenue Managers and Auditors that can help you through such problems.
The firm is also equipped with Board Certified Tax Attorneys for those cases that warrant such representation.
Here is how simple the process works at Fresh Start Tax:
* We make sure all your back tax returns have been filed with the IRS or the State
* Fresh Start Tax will contact the IRS or the Department of Revenue (DOR) with a power of attorney so you never have to speak with the IRS or the State on these back tax issues
* We will provide the information necessary to prepare an IRS Form 433-A or 433-F, Collection Information Statement, or the required forms requested by the State
* We package the documentation, send it to the IRS or the State, and immediately request the closure of your case after we reach a settlement.
Why will the IRS or the State work better with a professional company than yourself alone?
* Professionals know what the government agencies is looking for
* Professionals know the exact packaging required
* Professionals know the applicable standards necessary to close and bring cases to a quick resolution
Fresh Start Tax has a professional team that has over 100 years of tax experience collectively. We have Board Certified Tax Attorneys, CPAs, former IRS Agents and instructors and former State Managers as well. Do not trust your future to just anyone. We are simply the best.
Please check out one of the best websites in the business and feel free to send your questions to us. Also, we never have had a complaint filed against our company.
www.freshstarttax.com 1-866-700-1040 skype password: Freshstarttax
by steve | Jul 20, 2010 | IRS Tax Advice
Let Fresh Start Tax get you a Streamline Installment Agreement today.
Call 1.866.700.1040
The Streamline payment agreement from the Internal Revenue Service is a payment agreement option that is the very best opportunity for some taxpayers to get an accepted payment agreement without a lot of hassle.
A Streamlined Installment Agreement is when $25,000 is owed to the IRS, including all penalties and interest. The reason they are termed “streamlined agreements” is because it does not require verification of financial assets, expenses and income, and other documentation like Form 433-A or 433-F (Collection Information Statement). This repayment payment plan period is usually over 5 years, or 60 months. Again, to calculate your minimum payment plan, take the total taxes you owe plus penalties and interest, and divide that by 50 months. This will give you your monthly minimum payment. The calculation uses 50 months to make way for interest to be paid off in the last 10 months. Interest incurred is the reason why you want to pay off your balance in the shortest amount of months. The faster you pay it off, the less interest is charged.
The Internal Revenue Service has some General Requirements
The requirements for a Streamline Payment Agreement are as follows:
1. A $52 application fee. This fee is normally taken from your first monthly payment, so you need to make sure your first payment covers the application fee. If you pay by check or money order, then the application fee is $105. It costs $45 to reinstate or modify an existing installment agreement.
2. All tax returns must be filed before an installment agreement will be accepted.
3. You must owe less than $25,000, including assessed penalties and interest.
4. You must be willing to make monthly payments over a period of no more than 5 years or 60 months.
5. You must not have entered into any previous Installment Agreements over the last 5 years (including your spouse if filing jointly). The IRS will do a thorough check on this issue.
Let our team of Board Certified Tax Attorneys, CPAs, enrolled agents and former IRS instructors get your nightmare resolved right now. These Streamline Installment Agreements are flat fee billed and are some of the most economical in the industry.
Contact Information 1-866-700-1040
www.freshstarttax.com
Skype us at; freshstarttax
by steve | Jul 17, 2010 | IRS Tax Advice
You have not received your 1099 or W-2, here is what you do
If you do not receive your Form W-2 or Form 1099-R by January 31st , or your information is incorrect, contact your employer/payer.
If you do not receive the missing or corrected form by February 14th from your employer/payer, you may call the IRS at 800?829?1040 for assistance. You must provide your name, address (including zip code), phone number, Social Security Number, dates of employment, your employer/payer’s name, address (including zip code), and phone number. The IRS will contact the employer/payer for you and request the missing form. IRS will also send you a Form 4852 (PDF), Substitute for Form W-2 or Form 1099-R.
If you do not receive the missing form in sufficient time to file your tax return timely, you may use the Form 4852. If you receive the missing or corrected Form W-2 or Form 1099 after you file your return and a correction is needed, use Form 1040X (PDF), Amended U.S. Individual Income Tax Return. For additional information on filing an amended return, refer to Topic 308, Amended Returns.
IRS many times can give you copies of your income reports over the least 7 years if you make that request to them. should you have any questions, call the Fresh Start Team today.
by steve | Jul 16, 2010 | IRS Tax Advice
Closing a Business Checklist from IRS and Fresh Start Tax to help the process go smooth
There are typical actions that are taken when closing a business. You must file an annual return for the year you go out of business. If you have employees, you must file the final employment tax returns, in addition to making final federal tax deposits of these taxes. Also attach a statement to your return showing the name of the person keeping the payroll records and the address where those records will be kept.
The annual tax return for a partnership, corporation, S corporation, limited liability company or trust includes check boxes near the top front page just below the entity information. For the tax year in which your business ceases to exist, check the box that indicates this tax return is a final return. If there are Schedule K-1s, repeat the same procedure on the Schedule K-1.
You will also need to file returns to report disposing of business property, reporting the exchange of like-kind property, and/or changing the form of your business. If you do not have a pre-printed envelope in which to send your taxes, refer to the Where To File page for a list of addresses. Below is a list of typical actions to take when closing a business, depending on your type of business structure:
Checklist to go over during this process
* Make the final federal tax deposits
o Electronic Federal Tax Paying System (EFTPS)
o Form 8109-B
* File final quarterly or annual employment tax form.
o Form 940, Employer’s Annual Federal Unemployment)Tax Return
o Form 941, Employer’s Quarterly Federal Tax Return
o Form 943, Employer’s Annual Tax Return for Agricultural Employees
o Form 943-A, Agricultural Employer’s Record of Federal Tax Liability
* Issue final wage and withholding information to employees
o Form W-2, Wage and Tax Statement
* Report information from W-2s issued.
o Form W-3, Transmittal of Income and Tax Statements
* File final tip income and allocated tips information return.
o Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips
* Report capital gains or losses.
o Form 1040, U.S. Individual Income Tax Return
o Form 1065, U.S. Partnership Return of Income
o Form 1120 (Schedule D), Capital Gains and Losses
* Report partner’s/shareholder’s shares.
o Form 1065 (Schedule K-1), Partner’s Share of Income, Credits, Deductions,
o Form 1120S (Schedule K-1), Shareholder’s Share of Income, Credits, Deductions, etc.
* File final employee pension/benefit plan.
o Form 5500, Annual Return/Report of Employee Benefit Plan
* Issue payment information to sub-contractors.
o Form 1099-MISC, Miscellaneous Income
* Report information from 1099s issued.
o Form 1096, Annual Summary and Transmittal of U.S. Information Returns
* Report corporate dissolution or liquidation.
o Form 966, Corporate Dissolution or Liquidation
* Consider allowing S corporation election to terminate.
o Form 1120S, Instructions
* Report business asset sales.
o Form 8594, Asset Acquisition Statement
* Report the sale or exchange of property used in your trade or business.
o Form 4797, Sales of Business Property
Should you owe any Federal Payroll taxes, 941’s, remember the IRS has the ability to personally go after the money. This means IRS garnishments and federal tax levies. This process is called the trust fund recovery penalty. Should you have this situation you should immediately contact the tax professionals at Fresh Start Tax today. 1-866-700-1040 We can save you plenty. We are THE PRO’s.
