by steve | Feb 29, 2012 | IRS Tax Debt, Tax Help
Do not be afraid to ask the IRS to put your case into Hardship or a Currently Non Collectable Status.
As a former IRS Agent, 50% of the cases I worked, I had to write off as currently not collectible because the taxpayers simply had no money at the current time to pay the tax and for that matter, even make a small payment to the IRS. Most of these taxpayers were broke.
Since the case was in my inventory it had to be closed and put back into the system. Accounts are generally full paid, put in part pay status or placed in to a Hardship Status.
IRS does not advertise to the public that your case can be put into a current IRS hardship.
There are about 10 million cases right now in the IRS collection system that are deemed IRS tax hardships. They can stay in hardship for 1 year or stay there until the collection statute expires on the case. For more insight into how long cases stay in the closed computer system you can contact me directly.
So what is a IRS TAX HARDSHIP?
Many people have absolutely know idea that hardship or currently uncollectible exists. The truth of the matter is that most of our clients fall into the hardship rules.
Under the Internal Revenue Service IRS 5.16.1.2.9 (04-29-2011) explains the hardship provisions.
Hardship
Follow the procedures in IRM 5.15.1, Financial Analysis Handbook, to determine the correct resolution of the case based on the taxpayer’s assets and equity, income and expenses:
A hardship exists if a taxpayer is unable to pay reasonable basic living expenses.
The basis for a hardship determination is from information about the taxpayer’s financial condition provided on Form 433–A, Collection Information Statement for Wage Earners and Self-Employed Individuals or Form 433–B, Collection Information Statement for Businesses.
Generally, these cases involve no income or assets, no equity in assets or insufficient income to make any payment without causing hardship.
Generally, an account should not be reported as Currently Not Collectable if the taxpayer has income or equity in assets, and enforced collection of the income or assets would not cause hardship.
Other reasons for IRS hardships:
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The taxpayer has a terminal illness or excessive medical bills.
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The taxpayer is incarcerated.
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The taxpayer’s only source of income is social security, welfare, or unemployment.
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The taxpayer is unemployed with no source of income.
For accounts where the aggregate unpaid balance of assessments is above $10,000 the following additional verification is required:
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Full credit report on IMF and sole proprietor taxpayers and LLCs (where an individual owner is identified as the liable taxpayer)
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Motor vehicle records
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Real and personal property courthouse records.
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On-line locator services, such as Accurint, follow security guidelines when using public internet search engines
Should you think you qualify for hardship, call us today.
by steve | Feb 28, 2012 | IRS Tax Debt
Settle your Back Taxes with The Offer in Compromise Program 954-492-0088, FORMER AGENT, I TAUGHT THIS PROGRAM AT IRS, HEAR THE TRUTH!
I taught the offer in compromise program as a Former IRS agent. I worked out of the local South Florida IRS field offices. FREE CONSULTATIONS
- IRS accepts 20% of all Offers in Compromise filed.
- IRS received 55,000 offers in compromise last year.
- 90% of those accepted offers come from tax professional who know the system.
The Offer in Compromise is a IRS Tax Program that have lead many to thinking I can settle my taxes for ” pennies on a dollar.” While the statement is true many taxpayers are disappointed when IRS sends out a rejection letter.
Just for the record, as a Former IRS Agent who worked offers in compromise, IRS does everything they can to reject offers in compromise.
The Offer in Compromise requires a great deal of skill and knowledge. The Offer on Compromise is worked much like a IRS tax audit. IRS spends no less than 20 hours working the Offer.
IRS has specialists work the Offer in Compromise Program. These specialist are the highest level of IRS personnel training in financial review and analysis.
As a former IRS Agent I have worked hundreds of Offer in Compromise. Sadly, most taxpayer have no clue what they are getting into.
A word to the wise, never submit an offer in compromise without having a full evaluation to see whether you qualify for the program.
By submitting the offer in compromise you are giving the IRS a financial road map to your life and it can become a valuable collection tool if your offer in compromise goes south.
A 433-OIC is required to complete the evaluation.
The basic rules for Offers in Compromise, you must give IRS all your equity in all your assets. IRS will also complete an income analysis to determine monthly payments.
Offer in Compromise – Payment Options
Your initial payment will vary based on your offer and the payment option you choose:
- Submit an initial payment of 20 percent of the total offer amount with your application. Then you can wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.
- You can submit your initial payment with your application.You can then continue to pay the remaining balance in monthly installments while the IRS considers your offer. If accepted, continue to pay monthly until it is paid in full.
If you meet the Low Income Certification guidelines, you do not have to send the application fee or the initial payment and you will not need to make monthly installments during the evaluation of your offer. See your application package for details.
Understand the Offer in Compromise Program and the Process
While your offer in compromise is being evaluated by the IRS;
- Your non-refundable payments and fees will be applied to the tax liability (you may designate payments to a specific tax year and tax debt);
- A Notice of Federal Tax Lien may be filed;
- Other collection activities are suspended;
- The legal assessment and collection period is extended;
- Make all required payments associated with your offer;
- You are not required to make payments on an existing installment agreement; and
- Your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.
Call us today for a free tax evaluation.
Miami, Ft.Lauderdale, Palm Beach, South Florida – IRS Tax Experts
by steve | Nov 19, 2011 | IRS Tax Debt
Fresh Start Tax LLC Since 1982 1-866-700-1040 A Professional Tax Firm “A” Rated by the BBB IRS Tax Experts in Reducing your Tax Bill We have saved our client millions of dollars since 1982
We are comprised of Board Tax Attorneys, CPA’s and Former IRS Agents & Managers.
It is very possible to reduce your tax bill. I would urge caution before you run off and give someone your money because there are several rip off ccompanies in the tax resolution industry.
25% of all cases submitted for settlement are accepted and the average settlement 13 cents on a dollar.
Usually the best firms to use are smaller and mid size firms because they are usually more consciousness about their work and their moral ethics. The first thing to do is the check the BBB report and verify the firms credibility and complaint levels. your research will pay off in the long run.
The next step is to check out the person or persons that will be working your case. Speak to them directly on the phone. Your skype or other devices to both see them and talk to them. You will want to speak directly to them.
It is very possible to reduce your IRS tax bill. Call us today and hear your different tax options.
We are staffed with Former IRS Agents, Managers and Instructors that actually taught the Tax Debt Settlement call the offer in compromise. Call today for a free tax opinion 1-866-700-1040.
Our Company Resume: ( Since 1982 )
- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- We taught Tax Law in the IRS Regional Training Center
- Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed and certified to practice in all 50 States
- Nationally Recognized Veteran /Published Former IRS Agent
- Nationally Recognized Published EZINE Tax Expert
- As heard on GRACE 90.3 FM Monthly Radio Show-Business Weekly
reduce Your Tax Bill – How we Settle and Negotiate your case with the Internal Revenue Service:
1. We immediately send a power of attorney to the IRS letting them know we are now your tax representative. You will never have to speak to the IRS.
2. We will make sure all your tax returns are filed and current. If your tax returns are not up to date, the IRS will refuse to work your case. This is leverage that they use to get you compliant. We can pull tax transcripts, file and prepare your tax returns within days, even if you have lost your tax records.
3. The IRS requires a current financial statement. We will secure a required 433-A (IRS financial statement), verify the income and expenses and work out a settlement agreement. The IRS will require a closing settlement method for each case.
4. We review with our clients how they want to settle their case. We get them an agreement based on their current financial needs.
IRS Tax Settlement Agreements can be in different forms:
a. Hardship Settlements. Cases usually go into a 3 year suspended status because of an inability to pay. This is also called currently noncollectable. Your case will go into a hardship status because you do not have the income coming in to meet your current expenses. The IRS will use the National Standards Program to assess hardship.
b. Payment Agreements. Cases can be closed with agreed upon monthly installment payments to the IRS. We will review the different programs the IRS uses for the lowest possible amount required.
c. IRS Offer in Compromise. There are three types of OICs:
The IRS may accept an Offer in Compromise based on three grounds:
1. Doubt as to Collectibility – Doubt exists that the taxpayer could ever pay the full amount of tax liability owed within the remainder of the statutory period for collection.
2. Doubt as to Liability – A legitimate doubt exists that the assessed tax liability is correct. Possible reasons to submit a doubt as to liability offer include:
(1) the examiner made a mistake interpreting the law,
(2) the examiner failed to consider the taxpayer’s evidence or
(3) the taxpayer has new evidence.
3. Effective Tax Administration / Exceptional Circumstances – There is no doubt that the tax is correct and there is potential to collect the full amount of the tax owed, but an exceptional circumstance exists that would allow the IRS to consider an OIC. to be eligible for compromise on this basis, a taxpayer must demonstrate that the collection of the tax would create an economic hardship or would be unfair and inequitable.
See our home page for more details about Fresh Start Tax L.L.C. Thank You
by steve | Nov 4, 2011 | IRS Tax Debt, Tax Settlements
Fresh Start Tax LLC Since 1982 Affordable IRS Tax Experts IRS Tax Debt Settlement Experts
Have Former IRS Agents and Managers that taught the Tax Debt Settlement Program called the Offer in Compromise settle your tax case.
We have worked Offers in Compromise since 1982 and have worked thousands of settlement cases.
We have over 205 years of professional tax experience and over 60 years of working directly for the IRS.
We have saved millions of dollars for our clients over the years. Do not be scammed by other tax companies that sell your information to the highest bidder.
Hire true IRS tax experts in Tax Debt Settlements to work your case. Do not be scammed!!! Call 1-866-700-1040
Areas of Professional Tax Practice:
- Same Day IRS Tax Representation
- Offers in Compromise or IRS Tax Debt Settlements
- Immediate Release of IRS Bank Levies or IRS Wage Garnishments
- Tax Relief from a IRS Bill, Letter or Notice of “Intent to Levy”
- IRS Tax Audits
- IRS Hardships Cases or Unable to Pay
- Payment Plans, Installment Agreements, Structured agreements
- Abatement of Penalties and Interest
- State Sales Tax Cases
- Payroll / Trust Fund Penalty Cases / 6672
- Filing Late, Back, Unfiled Tax Returns
- Tax Return Reconstruction if Tax Records are lost or destroyed
Our Company Resume: ( Since 1982 )
- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- We taught Tax Law in the IRS Regional Training Center
- Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed and certified to practice in all 50 States
- Nationally Recognized Veteran /Published Former IRS Agent
- Nationally Recognized Published EZINE Tax Expert
- As heard on GRACE 90.3 FM Monthly Radio Show-Business Weekly
by steve | Nov 4, 2011 | IRS Tax Debt
Fresh Start Tax LLC Since 1982 “A” Rated by the BBB IRS Tax Relief and Debt Settlements A Professional Tax Firm
We are one of the oldest, most trusted and experienced professional tax firms.
We have over 205 years of professional tax experience and over 60 years of working directly for the IRS in the local, district and regional offices of the IRS.
On staff, Former IRS Managers and Agents who taught the tax debt settlement program at the IRS. We taught the local agents the offer in compromise program and also taught Tax Law at the Regional levels.
We have saved millions of dollars for our clients over the years.
Call 1-866-700-1040 to start the process right now. Hire trust and integrity.
Fresh Start Tax L.L.C. 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 Tax Representation.
We know all the IRS tax strategies because of our extensive IRS working backgrounds. We were Former IRS Certified Tax Instructors that taught IRS Tax Law in the IRS Regional Training Center. Some of our many specialties include the following:
Areas of Professional Tax Practice:
- Same Day IRS Tax Representation
- Offers in Compromise or IRS Tax Debt Settlements
- Immediate Release of IRS Bank Levies or IRS Wage Garnishments
- Tax Relief from a IRS Bill, Letter or Notice of “Intent to Levy”
- IRS Tax Audits
- IRS Hardships Cases or Unable to Pay
- Payment Plans, Installment Agreements, Structured agreements
- Abatement of Penalties and Interest
- State Sales Tax Cases
- Payroll / Trust Fund Penalty Cases / 6672
- Filing Late, Back, Unfiled Tax Returns
- Tax Return Reconstruction if Tax Records are lost or destroyed
Our Company Resume: ( Since 1982 )
- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- We taught Tax Law in the IRS Regional Training Center
- Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed and certified to practice in all 50 States
- Nationally Recognized Veteran /Published Former IRS Agent
- Nationally Recognized Published EZINE Tax Expert
- As heard on GRACE 90.3 FM Monthly Radio Show-Business Weekly
See our Home Page for more details
by steve | Nov 2, 2011 | IRS Tax Debt
Fresh Start Tax LLC A Professional Tax Firm Specializing in IRS Tax Debt Settlements and Relief Since 1982 “A” Rated by the BBB
We are IRS Tax Experts in Tax Debt Settlements. We taught the Tax Debt Settlement Program at the IRS called the Offer in Compromise.
On staff Board Certified Tax Attorneys, CPA’s and Former IRS agents.
We have successfully worked thousands of settlement cases and as a result we know ever possible settlement option.
When employed by the IRS we accepted Offers in Compromises and we know every tax settlement policy that the IRS offers. We have over 60 years of direct work experience at the IRS.
We are one of the oldest, most trusted and and experienced professional tax firms.
Call us 1-866-700-1040 for a no cost consult 1-866-700-1040. Affordable and friendly!
Areas of Professional Tax Practice:
- Same Day IRS Tax Representation
- Offers in Compromise or IRS Tax Debt Settlements
- Immediate Release of IRS Bank Levies or IRS Wage Garnishments
- Tax Relief from a IRS Bill, Letter or Notice of “Intent to Levy”
- IRS Tax Audits
- IRS Hardships Cases or Unable to Pay
- Payment Plans, Installment Agreements, Structured agreements
- Abatement of Penalties and Interest
- State Sales Tax Cases
- Payroll / Trust Fund Penalty Cases / 6672
- Filing Late, Back, Unfiled Tax Returns
- Tax Return Reconstruction if Tax Records are lost or destroyed
Our Company Resume: ( Since 1982 )
- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- We taught Tax Law in the IRS Regional Training Center
- Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed and certified to practice in all 50 States
- Nationally Recognized Veteran /Published Former IRS Agent
- Nationally Recognized Published EZINE Tax Expert
- As heard on GRACE 90.3 FM Monthly Radio Show-Business Weekly
IRS Tax Debt Settlements – How we Settle and Negotiate your case with the Internal Revenue Service:
1. We immediately send a power of attorney to the IRS letting them know we are now your tax representative. You will never have to speak to the IRS.
2. We will make sure all your tax returns are filed and current. If your tax returns are not up to date, the IRS will refuse to work your case. This is leverage that they use to get you compliant. We can pull tax transcripts, file and prepare your tax returns within days, even if you have lost your tax records.
3. The IRS requires a current financial statement. We will secure a required 433-A (IRS financial statement), verify the income and expenses and work out a settlement agreement. The IRS will require a closing settlement method for each case.
4. We review with our clients how they want to settle their case. We get them an agreement based on their current financial needs.
IRS Tax Settlement Agreements can be in different forms:
a. Hardship Settlements. Cases usually go into a 3 year suspended status because of an inability to pay. This is also called currently noncollectable. Your case will go into a hardship status because you do not have the income coming in to meet your current expenses. The IRS will use the National Standards Program to assess hardship.
b. Payment Agreements. Cases can be closed with agreed upon monthly installment payments to the IRS. We will review the different programs the IRS uses for the lowest possible amount required.
c. IRS Offer in Compromise. There are three types of OICs:
The IRS may accept an Offer in Compromise based on three grounds:
1. Doubt as to Collectibility – Doubt exists that the taxpayer could ever pay the full amount of tax liability owed within the remainder of the statutory period for collection.
2. Doubt as to Liability – A legitimate doubt exists that the assessed tax liability is correct. Possible reasons to submit a doubt as to liability offer include:
(1) the examiner made a mistake interpreting the law,
(2) the examiner failed to consider the taxpayer’s evidence or
(3) the taxpayer has new evidence.
3. Effective Tax Administration / Exceptional Circumstances – There is no doubt that the tax is correct and there is potential to collect the full amount of the tax owed, but an exceptional circumstance exists that would allow the IRS to consider an OIC.
To be eligible for compromise on this basis, a taxpayer must demonstrate that the collection of the tax would create an economic hardship or would be unfair and inequitable.
See our home page for more details about Fresh Start Tax L.L.C. Thank You
