by steve | Nov 18, 2011 | IRS Payment Plans
Fresh Start Tax LLC Since 1982 A Professional Tax Firm “A” Rated by the Better Business Bureau
Former IRS Agents and Managers know all of the IRS techniques and IRS procedures. Do not let the IRS kill you. Call for a no cost review 1-866-700-1040 . We can stop the IRS today!
Over 25 million taxpayers last year received billing notices from the IRS. That is certainly a record number mostly due to the turn in the economy and the effects of a depressed market conditions.
With that said, many taxpayers are stuck with tax bills that they cannot afford to make. There are several solutions available for taxpayer looking for payment options for back IRS taxes.
The IRS has announced an effort to help struggling taxpayers get a fresh start with their tax liabilities.
The goal of this effort is to help individuals and small business meet their tax obligations, without adding unnecessary burden. Specifically, the IRS has announced new policies and programs to help taxpayers pay back taxes, avoid tax liens and federal tax levies or tax garnishments.
Some Tax Tips for those who need payment options for back taxes:
1. Additional time to pay is based on your individual circumstances, you may be granted a short time to pay your tax in full or enter into a long payment plan with the IRS. Your current financial statement will dictate that.
2. You may request an installment agreement if you cannot pay the liability in full. This is an agreement between you and the IRS to pay the amount due in monthly installment payments. You must first file all required returns and be current with estimated tax payments. If you are not current with your tax filing IRS will not accept a payment plan or any Payment Option.
3. If you owe $25,000 or less in combined tax, penalties and interest, you can request a streamline installment agreement through Fresh Start Tax LLC. We can usually get these in 24 hours.
4. You may still qualify for an installment agreement if you owe more than $25,000, but you are required to complete a Form 433F, Collection Information Statement, before the IRS will consider an installment agreement. The 433F must be completely documented in regards to income and assets. IRS will also require pay stubs and bank statements.
5. If an installment 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 lower incomes, the fee can be reduced to $43.
6. If you have a balance due you may want to consider changing your W-4 Employee’s Withholding Allowance Certificate with your employer so the problem does not happen again.
Call us today 1-866-700-1040 . We are true Affordable IRS Tax Experts
by steve | Nov 17, 2011 | IRS Payment Plans
Do you need a Payment Plan with the IRS? We are fast and affordable. We are IRS Tax Experts. We have worked for the IRS for over 60 years in the local, district and regional offices of the IRS.
We can get you the agreement that is right for you.
We also taught Tax Law at the IRS. We can get you the agreement that best suits your financial needs. Call us for a free tax consultation 1-866-700-1040.
You can make monthly payments through an payment plan if you’re not financially able to pay your tax debt immediately.
Before you apply there are some things you need to know that we will go over with you:
1. File all required tax return, IRS will not set up a payment plan unless you are current on all filings.
2. Determine the largest monthly payment you can make ($25 minimum) so you can reduce the amount of interest you pay to the IRS.
3. Know that your future refunds will always be applied to your IRS tax debt until it is paid in full.
4. Avoid the fee for setting up an installment agreement. Pay the full amount you owe within 120 days to avoid the fee.
The fee for setting up an IRS Payment plan agreement is:
1. $52 for a direct debit agreement;
2. $105 for a standard agreement or payroll deduction agreement; or
3. $43 if your income is below a certain level.
You need to understand your agreement and keep your account in good standing. You will need to:
1. Pay at least your minimum monthly payment when it’s due (direct debit or payroll deductions make this easy);
2. Include your name, address, social security number, daytime phone number, tax year and return type on your payment;
3. File all required tax returns on time; you will default your agreement if this is not done.
4. Pay all taxes you owe in full and on time (contact us to change your existing agreement if you cannot);
5. Continue to make all scheduled payments even if we apply your refund to your account balance.
If you don’t receive your statement, send your payment to the address listed in your agreement.
There may be a reinstatement fee if your agreement goes into default. Penalties and interest always continue to accrue until your balance is paid in full. If you are in danger of defaulting on your payment agreement for any reason, contact the IRS immediately. The IRS will generally not take enforced collection actions:
When an installment agreement is being considered;
1. While an agreement is in effect;
2. For 30 days after a request is rejected, or
3. During the period the IRS evaluates an appeal of a rejected or terminated agreement.
Call us to get the very best deal worked out on your behalf. 1-866-700-1040
by steve | Sep 19, 2011 | Installment Agreements, IRS Payment Plans
Need a payment installment payment agreement.
Call us today and you can get one usually within 72 hours.
If you owe money to the IRS and want to pay them back, there is a charge.
Nothing is free. Even Uncle charges.
So the question: Can I make installment payments on the amount I owe?
Answer: Yes.
If you cannot pay the full amount due as shown on your return, you can ask to make monthly installment payments.
If your request to pay in installments is granted, the following conditions apply.
1 . You will be charged a one time user fee of $105.00. For direct debit agreements, the fee will be $52.00.
2. Interest is charged on any tax not paid by its due date, until the account is fully paid.
3. You will be charged a late payment penalty unless you can show reasonable cause for not paying the tax by the due date (April 15, 2011) for individual income tax returns. The penalty will be charged until it reaches 25% of the original balance due.
To request an installment agreement send Form 9465 (PDF), Installment Agreement Request, with your return. To request a payroll deduction installment agreement, use Form 2159, Payroll Deduction Agreement.
To request a direct debit Installment Agreement, use Form 433-D, Installment Agreement.
Advantages of a direct debit installment agreement to the taxpayer include:
1. Reduced user fee
2. No check to be mailed
3. Postage savings
4. No check processing charges
5. No problem remembering to make the monthly payment
Need to get a payment agreement, call us today!
