by Fresh Start Tax | Nov 6, 2012 | California Tax, IRS Representation, IRS Tax Problem, Representation, Tax Levy and Wage Garnishments, Tax Relief
IRS Bank Tax Levy, Wage Levy Garnishment – Tax Debt Resolution
We can get you immediate and permanent tax relief from your IRS Bank Levy or Wage Garnishment and settle your case all at one time. Get Tax Debt Resolution from true tax professionals. Do not be scammed.
We are A plus rated by the Better Business Bureau.
Fresh Start Tax LLC 1901 Newport Boulevard
Suite 350
Costa Mesa, CA 92627
866-700-1040
We have over 206 years of professional tax experience and over 60 years with the IRS in the local, district and regional offices of the IRS.
We can get results for Tax Debt Resolution within 48 hours so stop the worry now.
We have worked over 15,000 cases since 1982. Fresh Start Tax L.L.C. is A plus rated by the BBB.
What is a Bank Tax Levy and Wage Tax Levy
A IRS tax levy is a legal seizure of your property to satisfy a tax debt.
Levies are different from liens. A lien is a claim used as security for the tax debt, while a levy actually takes the property to satisfy the tax debt.
A Bank Levy
A Bank Levy is a freeze on your bank account for 21 days. On the 22nd day if you did not resolve the issue with the IRS, the bank is obligated to forward the money to the IRS. Usually a tax firm can easily get the bank levy released.
A Wage Levy Garnishment
Unlike a bank account, a wage garnishment levy is a immediate seizure of your next paycheck and it will continue until to you call the IRS and get the wage levy released.You are allowed to keep about 10% of your paycheck while a wage levy garnishment is in place.
Releases or Removals
To get the Bank or Wage levy released IRS will want to make sure all your tax returns are filed and you have submitted a financial statement to the IRS.
The financial statement must be verified with documents to prove your income and expenses.
We at Fresh Start Tax LLC can usually get levies releases within days.
If you do not pay your taxes (or make arrangements to settle your debt), the IRS may seize and sell any type of real or personal property that you own or have an interest in.
For instance,
IRS can also seize and sell property that you hold such as your car, boat, or house, or
We could levy property that is yours but is held by someone else such as your wages, retirement accounts, dividends, bank accounts, licenses, rental income, accounts receivables, the cash loan value of your life insurance, or commissions.
IRS cannot levy until after three requirements are met:
1. The IRS assessed the tax and sent you a Notice and Demand for Payment;
2. You failed or neglected or refused to pay the tax and,
3. IRS sent you a Final Notice of Intent to Levy and Notice of Your Right to A Hearing (levy notice) at least 30 days before the levy.
IRS must give you this notice in person, leave it at your home or your usual place of business, or send it to your last known address by certified or registered mail, return receipt requested.
Note- if the IRS sends a levy your state tax refund, you may receive a Notice of Levy on Your State Tax Refund, Notice of Your Right to Hearing after the levy.
Legal- Method of Delivery
Federal Tax Regulation 301.6331-1(c) authorizes the IRS to provide depositories notices of levy by mail. However, the regulation does not preclude in-person delivery of a levy to a local branch or office by a revenue officer. Additionally, depositories may not designate a specific branch or location for service of hand-delivered levies.
No matter how a levy is received, by mail or hand delivered, depositories are expected to adhere to IRS guidelines by immediately processing the levy and freezing all affected accounts for the 21-day period required by Internal Revenue Code Section 6332(c).
A mailed levy becomes effective the date and time the notice of levy is delivered to the depository. A hand-delivered levy becomes effective the date and time the notice of levy is hand delivered in person by a revenue officer.
Call us today to get immediate tax results, 1-866-700-1040
IRS Bank Tax Levy, Wage Levy Garnishment – Tax Debt Resolution
by Fresh Start Tax | Nov 3, 2012 | California Tax, IRS Representation, IRS Tax Debt, IRS Tax Experts, IRS Tax Problem, Offer in Compromise, Tax Settlements
IRS Tax Debt Settlement – Offer in Compromise – Former IRS Offer in Compromise Specialist
Fresh Start Tax – Joe Dimino and Michael D. Sullivan
1901 Newport Boulevard
Suite 350
Costa Mesa, CA 92627 Costa Mesa, CA 92627 1- 866-700-1040
IRS accepts about 14,000 Offers in Compromise a year. 57,000 are submitted to the IRS.With the new Fresh Start Program instituted by the IRS we can expect many more offers being filed in the future. the program will help many struggling taxpayers.
A IRS Offer is sometimes called a IRS Tax Debt Settlement. As a Former IRS Agent and Teaching instructor with the IRS I use to teach the program to new Revenue Officers. Modesty speaking I am a true expert when it comes to IRS Tax Debt Settlements.
There are many companies that advertise “We can settling your case for pennies on a dollar.” While that statement is very true, I would caution any taxpayer to make sure the company you are dealing with is an experienced and trustworthy tax firm because our market is saturated with scam artists.
Check out BBB ratings and check on the person directly who will be handling your case.
My advice to the public is to have your offer pre-qualified before submitting your Offer in Compromise for a IRS Tax Debt Settlement.
Fresh Start Tax LLC will do just that.
Before we take dollar one, we will tell you whether you are a valid offer candidate before you spend a nickel.
Contact us today and hear the truth. We are A plus rated by the BBB.
What is an Offer in Compromise or a IRS Tax Debt Settlement
An offer in compromise is an agreement between a taxpayer/business and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than the full amount owed.
If the tax liabilities can be fully paid through an installment agreement or other means, the taxpayer will in most cases not be eligible for an OIC. For information concerning tax payment options, including installment agreements call us today. 1-866-700-1040.
In most cases, the IRS will not accept an OIC unless the amount offered by the taxpayer is equal to or greater than the reasonable collection potential. this is known as the RCP.
The RCP is how the IRS measures the taxpayer’s ability to pay. The RCP includes the value that can be realized from the taxpayer’s assets, such as real property, automobiles, bank accounts, IRA’s, pension plans and other property and assets of the taxpayer.
In addition to property, the RCP also includes anticipated future income, less certain amounts allowed for basic living expenses.
The IRS may accept an OIC based on three grounds.
First.
Acceptance of an Offer is permitted if there is doubt as to liability. This ground is only met when genuine doubt exists that the IRS has correctly determined the amount owed. you must have proof that the liability is incorrect.
Second.
An acceptance of an Offer is permitted if there is doubt that the amount owed is collectible. This means that doubt exists in any case where the taxpayer’s assets and income are less than the full amount of the tax liability.
Third.
An acceptance of an Offer is permitted based on effective tax administration.
An offer in compromise may be accepted based on effective tax administration when there is no doubt that the full amount owed can be collected, but requiring payment in full would either create an economic hardship or would be unfair and inequitable because of exceptional circumstances. These are rare.
How do you calculate the Tax Settlement or the Offer
Calculating the Offer in Compromise
To determine the acceptable minimum offer amount, the IRS will look at the taxpayer’s income and available assets, and compare it to their monthly expenses and other secured debts; however, not all expenses qualify.
For example, non-secured debt, such as credit card debt, will not be taken into account when calculating your offer. The IRS imposes a cap on qualified expenses, such as housing and transportation costs, to limit the amount you can claim, even if your actual expenses are much greater. There is a National Standard IRS embraces.
The value of any assets the taxpayer currently has, such as a home, car, 401K, or checking account, will be automatically calculated into the minimum offer amount. Those taxpayer who have a valuation of assets exceeding their tax liability are not good candidates for an offer in compromise, since the IRS will deem the taxpayer capable of paying the entire liability. If your assets exceed the amount of tax you owe, you are wasting your time filing an offer in compromise.
This does not mean, however, that one should liquidate their assets prior to submitting an offer. The IRS may or will consider these recently sold assets to be dissipated assets which could and will have an adverse effect on the final offer amount.
What is a Dissipated Asset.
Dissipated assets are anything of value that you had and subsequently sold, which could have satisfied your tax liability.
An example.
The sale of a business or car could be a dissipated asset. If the proceeds from the sale were spent on something other than your tax liability, and are no longer available to you, the IRS may add the value of the dissipated assets to your minimum offer amount.Check with us if this is the case.
Dissipated assets and their treatment can be difficult for many taxpayers to understand. Treatment of assets is an important factor when the IRS determines the viability of an offer in compromise. Therefore, one mis-characterized asset, or one that is not accompanied by proper explanation can cause an offer in compromise to be rejected.
Call us today and find out if and how you can qualify for a settlement with the IRS.
Call 1-866-700-1040 for a no cost consultation.
by Fresh Start Tax | Oct 30, 2012 | Back Taxes, California Tax, IRS Payment Plans, IRS Representation, IRS Tax Debt, IRS Tax Experts, IRS Tax Problem, Tax Help
Back Tax Relief – Late, Unfiled, Past Due Tax Returns – Hire Former IRS Agents 1-866-700-1040
We are a professional tax firm with over 205 years of professional tax experience. We have over 60 years of direct working experience with the IRS in the local, district and regional offices of the IRS.
We taught Tax Law at the IRS.
We know the system so stop the worry NOW!
We can get you immediate tax relief, so stop your worry today and contact us for a no cost professional tax consult. 1-866-700-1040.
If you have back, late, unfiled or past due tax returns with or without records we can file your back tax returns. We will also settle your case with the Internal Revenue Service.
We are friendly, local and affordable.
Fresh Start Tax LLC
1901 Newport Boulevard
Suite 350
Costa Mesa, CA 92627
866-700-1040
If you have a back tax issue it is best to resolve the issues before you force the hand of IRS to take enforcement action. Believe it or not the IRS does not want to levy or lien.
Because of a lack of response from the taxpayer, the IRS system and the CADE 2 computer automatically generates federal tax liens and federal tax levies.
We can stop the IRS usually with on telephone call from an experienced tax representative.
What IRS will request.
IRS will request all your tax returns to be filed. They will usually give us a 30 day window to prepare all tax returns. During that process the IRS will usually suspend all collection and enforcement action on your case. Liens and levies will usually not be filed.
A Decision to Make
If, on the unfiled tax returns you owe tax (married filing jointly), make a decision whether or not to include both husband and wife on the liability. Sometimes it is better to only have one party responsible for the tax. We will talk over this situation with both spouses so the IRS cannot tie up joint assets.
Payment Agreements to the IRS
If you owe less than $50,000, you can get a streamline agreement automatically. Just call us today, 1-866-700-1040. We will not require a financial statement and can usually close your case out within the week.
Beware of Pension Plans or IRA’s
If you have a pension, 401K or IRA, the IRS can or will ask if you can liquidate it to pay the taxes. Find out beforehand if you can liquidate.Find out the consequences of doing so. If you owe under $50,000 this will not apply to you.
Can you settle your case?
Find out whether you qualify for an Offer in Compromise. An OIC can suspend IRS collection action. IRS will look at your assets and your income to make a determination. If you complete a 433OIC we will review your case and tell your whether you qualify for a Offer in Compromise. If IRS accepts the Offer your tax lien will be released.
Be current with your taxes.
Make sure you are current for withholding or estimated payments in the current year of the tax problem. IRS will verify that you have enough withholding being taken out of your check so you do not incur more taxes. You can adjust your W-2 or your 1040 ES payments.
Four million taxpayers pay their taxes using an installment agreement. Find out the criteria for a payment agreement before you call the IRS. Do not call the IRS without first having a plan.
Call us today and get some of the best tax professionals in the business for affordable prices, 1-866-700-1040.
Back Tax Relief – Late, Unfiled, Past Due Tax Returns – Costa Mesa, Anaheim, Newport, Glendale, Orange, Long Beach, Fullerton, Luguna – IRS Experts
by Fresh Start Tax | Oct 30, 2012 | IRS Representation, IRS Tax Audit, IRS Tax Problem, Representation, Sales Tax, Tax Help
IRS Tax Audit – IRS Representation Help – IRS & State Tax Representation
Have Former IRS Agents and Managers Represent you for an IRS Tax Audit
Hire True Tax Professional, stop the worry! We can save you money and completely resolve your IRS issue.
We were Former IRS Audit Agents/Managers and know the procedures and policies. We can prevent IRS to wreck havoc in your life. 1-866-700-1040.
Do not be fooled by other companies. Call us and speak directly to Former IRS Agents, Managers and Instructors who have over 60 years working directly for the IRS.
The odds of you getting audited by the IRS are about 1%.
IRS Audits 1.4 million tax returns each year. Rate of corporate returns being audited are far greater sometimes up to 10%.
The more money you make the greater likelihood your tax return will be audited.
If you need professional tax help to represent you on a individual or business tax audit call us today for the finest available Federal or State tax representation.
We are the true IRS and State tax experts. We are comprised of Board Certified Tax Attorneys, CPA’s, Former IRS Agents & Managers and Enrolled Agents.
You can met with us directly, contact us by telephone of Skype.
Fresh Start Tax – Joe Dimino
1901 Newport Boulevard
Suite 350
Costa Mesa, CA 92627
866-700-1040
IRS Tax or State Sales Tax Audits
Both government agencies can audit your tax return for a variety of reasons. As a general rule, the computer has selected your tax return for a tax audit.
The DIF Score, the main reason for tax audits.
Each tax return is issued a DIF Score (Discriminatory Index Function). According to the IRS and Former IRS agents who worked in the tax audit section, a DIF Score “is a mathematical technique used to score income tax returns for examination potential.
This technique establishes the National Average Guidelines.
If if your DIF score for your tax return is above the national average, then the risk of an audit escalates. The highest scoring tax returns are then forwarded to an IRS Examiner/ Agent for further review. All returns are manually screened.
So what triggers a high DIF Score?
Falling out of the National Average Guidelines in the areas of Charitable Contributions, Casualty Losses, Home Office, and Travel & Entertainment, excessive deductions and taking to many unauthorized tax credits will affect the tax return’s DIF Score.
How DIF Actually Works
To arrive at the DIF score for each tax return, the IRS computer identifies returns by assigning weights, algorithms and certain basic tax return characteristics.
These weights are added together to obtain a systemic composite score for all tax returns. That score is used to rank all returns into numerical sequence.
The highest scores are then manually reviewed by IRS Agents at the Service Centers to determine the merit and worthiness of a Tax Audit.
One Caution
You want to avoid IRS picking up multiple years during your tax audit. There are ways to prevent this action.
Call us for more details. 1-866-700-1040.
