by steve | Jan 10, 2010 | IRS Tax Advice
Have Former IRS agents immediately resolve your IRS problem.
Fresh Start Tax 1-866-700-1040 A Professional Tax Firm “A” Plus Rated by the Better Business Bureau
Do you have a bank or wage levy? We can get immediate releases of tax levies
How we get an Immediate Release of Wage or Bank Levy:
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 them.
2. We will make sure your tax returns are filed and current. If they are not filed, we will prepare and file your tax returns.
3. We will secure a required 433-F (IRS financial statement), verify the income and expenses and work out a settlement agreement.
4. Settlement agreements can be in different forms:
a. Hardship. Hardship cases usually go into a 3 year suspended status because of an inability to pay. This is also called currently noncollectable.
b Payment Agreements are agreed upon monthly installment payments to the IRS.
c. Offer in Compromise. A much longer and detailed process of tax settlement. We will discuss in detail with you the merits of each.
5. The IRS will then fax to your payroll department, bank, or third party a Release Of Levy.
Continuous Effect of Levy on Salary and Wages
Unlike other levies, a levy on a taxpayer’s wages and salary has a continuous effect. It attaches to future payments, until the levy is released. Wages and salary include fees, bonuses, commissions, and similar items. All other levies only attach to property and rights to property that exist when the levy is served.
Holding Period Bank Levy
- A bank must wait 21 calendar days after a levy is served before sending payment. Then, on the next business day, it must turn over the taxpayer’s money. The depositor(s) can waive this waiting period. The bank will not send money that is subject to attachment or execution under judicial process. “Bank” includes credit unions, savings and loan associations, trust companies, and others described in IRC 408(n) and Treas. Reg. §301.6332–3(b).
by steve | Jan 10, 2010 | IRS Tax Advice
A local Firm Ft.Lauderdale Tax Firm – Since 1982
Fresh Start Tax 954-492-0088 “A” Plus Rated by the Better Business Bureau A Professional Tax Firm
- 130 years years of direct tax experience
- 60 years of working for the IRS
- Staff Board Certified Tax Attorneys, CPAs, Former IRS Agents and Managers
- Practicing in South Florida since 1982
- Audit proof you tax return
- Fast and quality tax service
- Building a life time relationship with our clients.
Other IRS related tax services
Fresh Start Tax is one of the premier tax resolution firms in the country. 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
- 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
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
- Nationally Recognized Published Tax Expert
by steve | Jan 10, 2010 | IRS Tax Advice
A local Firm Ft.Lauderdale Tax Firm – Since 1982
Fresh Start Tax 954-492-0088 “A” Plus Rated by the Better Business Bureau A Professional Tax Firm
- 130 years years of direct tax experience
- 60 years of working for the IRS
- Staff Board Certified Tax Attorneys, CPAs, Former IRS Agents and Managers
- Practicing in South Florida since 1982
- Audit proof you tax return
- Fast and quality tax service
- Building a life time relationship with our clients.
Other IRS related tax services
Fresh Start Tax is one of the premier tax resolution firms in the country. 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
- 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
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
- Nationally Recognized Published Tax Expert
by steve | Jan 8, 2010 | IRS Tax Advice
Fresh Start Tax 954-492-0088 Local South Florida Professional Tax Firm “A” Plus Rated by the Better Business Bureau
We are comprised of Board Certified Tax Attorneys, CPA’s, Former IRS Agents and Managers who worked out of the South Florida IRS Offices.
Not only were we IRS agents we were also Managers and Instructors.
We know every tax strategy to resolve your case.
We handle all IRS problems. Tax Levies, Tax liens, Tax Settlements and Tax Audits.
Fresh Start Tax is one of the premier tax resolution firms in the country. 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
- 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
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
- Nationally Recognized Published Tax Expert
Have you received a IRS Notice cp2000? Q&As
Why did I receive this notice?
Notice CP 2000 shows proposed changes to your income tax return. This proposal is based on a comparison of the income, payments, credits, and deductions reported on your tax return with information on these items reported to us by employers, banks, businesses, and other payers. The CP 2000 also reflects any corrections we made to your original return when we processed it.
Is this a bill?
No. We’re asking you to verify the income, credits, and deductions reported on your tax return because they’re different from the information we received from other sources. We may even be proposing a decrease to your tax. The CP 2000 is only a proposal that offers you an opportunity to disagree, partially agree, or agree with the proposed changes. We haven’t charged any additional tax at this time
Why did it take you so long to contact me about this?
Tax years generally end on Dec. 31, but we don’t receive information from employers, banks, businesses, and other payers until much later. Once we receive all the tax returns and payer information, our computer system compares the information you reported with the information the payers provided. This process is very complicated and takes a long time to complete. We’re working hard to shorten the time it takes to contact taxpayers. You may be contacted as early as 12 months from the date you file your tax return.
What do I need to do?
review the information in the column marked “Shown on Return” and compare it with the information shown in the column marked “Reported to IRS (or Proposed by IRS).” Did you receive the income? If you received the income, was it reported on your tax return? IRS employees search the tax return and try to locate all income. Sometimes, however, several income items are combined and the employees can’t determine the source. If it wasn’t reported on your tax return, was it an oversight? If so, don’t file an amended return to report the income. Just check box “A” on the CP 2000 response page and return it with your check or money order made payable to the United States Treasury. If you agree with the increase but you can’t pay the entire balance due, you may be able to request an installment agreement. If you didn’t report the income for another reason, please explain.
Should I call with my response or mail it in?
Your response may be as simple as directing us to a line on your original return where you included the income with another income source. If this is the case, please call the following phone number and provide the information to the Customer Service Representative with whom you speak. If the notice was generated from Brookhaven, Ogden, or Philadelphia the number is 800-829-8310. If from Atlanta, Austin, or Fresno the number is 800-829-3009. It may be necessary to write if the issue is more complicated and you disagree with some or all of the proposed changes. In that case, write a complete explanation of the reasons you disagree. Also, attach copies of any relevant documents. These may include copies of Form 1099, Miscellaneous Income, Form W-2c, Corrected Wage and Tax Statement, letters received from payers explaining any changes or corrections, or any other items that support your position. If you have an unusual tax situation, attach a written statement explaining the reasons you’re reporting specific income items in a certain manner or why you’re not reporting the income at all.
I need more time to find my records and go through them all. Will you allow me additional time to respond?
It’s important that you respond to the CP 2000 by the due date shown on the notice. If you don’t, we’ll assume the proposed changes are correct and continue processing the proposal ultimately to an assessment. If you find you can’t respond by the due date on the notice because you need more time to research your records, please call the toll free number at the top of your notice. We’ll update our records to show you’ve requested an extension. Generally, we’ll allow an extension 30 days beyond the response date shown on the notice. We may also provide additional time to respond if you have unusual circumstances. It’s important to remember that additional interest and any applicable penalties will accrue on the account during the period of the extension if the tax increase is correct.
Do I have to pay the interest? Can you remove it?
The law requires us to charge interest on any tax that isn’t paid by the return due date (Internal Revenue Code Section 6601). The IRS Restructuring and Reform Act of 1998, however, requires us to notify taxpayers of the proposed discrepancies within 18 months of the original filing date in order to charge normal interest. We may need to adjust the interest charge if we make initial contact after that time.
The law allows us to reduce or remove interest on tax increases attributable to errors or delays we made in the performance of ministerial acts (Tax Reform Act or 1986 – Ministerial Act provision). A ministerial act is a procedural, mechanical, or processing act that doesn’t involve the exercise of judgment and occurs even though you did everything we required you to do. If you believe you qualify for abatement of interest based on this provision, you should include your reasons in your response.
The law doesn’t permit us to reduce or remove interest for reasonable cause. Reasonable cause only applies to penalties and refers to an acceptable explanation of circumstances that prevented you from paying the tax when it was due.
by steve | Jan 7, 2010 | IRS Tax Advice
So you ask, what is a Whipsaw tax assessment?
Whipsaw tax assessments are statutory notices of deficiency assessments. It is a technique utilized by the examination division of the IRS when auditing an abusive trust situation where a taxpayer has attempted to reduce or eliminate their tax liability through the use of one or more layers of trust entities.
Where the subjects of the examination refuse to cooperate with the Internal Revenue Service and the IRS is unable to accurately determine the correct and agreed tax owed by each entity, the IRS will issue inconsistent notices of deficiency (one to the individuals, one to the business trust, and one to the family trust)
Fresh Start Tax is one of the premier tax resolution firms in the country. 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
- 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
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
- Nationally Recognized Published Tax Expert
by steve | Jan 6, 2010 | IRS Tax Advice
Many taxpayers get a tax refund from the IRS each year. However, if you owe tax, here are nine tips on how 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 also pay the bill with your credit card. Plus you get points by using your credit card. To pay by credit card contact either Official Payments Corporation at 800-2PAYTAX, www.officialpayments.com, Link2Gov, 888-PAY-1040 or www.pay1040.com. It is better to owe the credit card company than it is to owe Uncle Sam.
Tip #3. The interest rate on a credit card or bank loan may be lower than the combination of the interest and penalties imposed by the Internal Revenue Code. The IRS charges a “failure to pay” penalty which is in addition to the interest which makes the tax amount due even higher.
Tip #4. You can also pay the balance owed by electronic funds transfer, check, money order, cashier’s check or cash. The IRS loves CASH. To pay by using electronic funds transfer you can take advantage of the Electronic Federal Tax Payment System by calling 800-555-4477 or 800-945-8400 or go 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 installment payments. To be eligible for an installment agreement, you must first file all returns that are required and be current with estimated tax payments. If over $25.000, the IRS will require a documented financial statement sent and reviewed by the ASC UNIT.
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 in 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. At a minimum, the monthly amount you will be allowed to pay without completing a Collection Information Statement, Form 433-A or 433-F, is an amount that will fully pay the total balance owed within 60 months. The IRS will not proceed if over 60 months.
You may still qualify for an installment agreement if you owe the IRS more than $25,000, but Form 433-F, Collection Information Statement, is required to be completed before an installment agreement can be considered. This 433-F is used by the ACS Unit. If your balance is over $25,000, consider your financial situation and propose the highest expenses possible, as that is how the IRS will arrive at your payment amount based upon 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, and is automatically figured based on your income.
Tip#9. Make sure your withholding is adjusted so you do not have the same problem again.
Tip #10. Fresh Start Tax can answer any questions you have regarding all of your IRS issues.
closing for blogs
Fresh Start Tax is one of the premier tax resolution firms in the country. 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
- 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
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
- Nationally Recognized Published Tax Expert
