by Fresh Start Tax | Sep 16, 2012 | IRS Tax Debt, Offer in Compromise, Tax Settlements
Fresh Start Tax LLC is comprised of Board Certified Tax Attorneys, CPA’s and Former IRS Agents who are tax settlement experts. We can settle with the IRS.
We were Former Instructors with the IRS and taught the Offer in Compromise Program called the Tax Settlement program.
Call us for a no cost professional tax consult. 1-866-700-1040.
There are different ways to pay your taxes but it is possible to settle your case with the IRS if you can met the terms and conditions of IRS Settlement Program called the Offer in Compromise.
IRS settlement program is based on income and assets. The basic settlement formula for a IRS Offer in Compromise is base on the:
1. The distrait value of your assets,
2. Taking your current income subtracting your current monthly expense multiplied by 12 and applied against the National Standard Expenses.
Fresh Start Tax LLC will review any potential Offer in Compromise for no cost. 1-866-700-1040
If you do not qualify for a Tax Settlement or Offer in Compromise:
If you owe taxes but cannot pay the full amount by the tax deadline you should still file your return on time and pay as much as you can to avoid penalties and interest.
Here are alternative payment options you may want to consider to pay your back taxes:
Additional Time to Pay Based is based on your exact circumstances, no two cases are the same.
A brief additional amount of time to pay can be requested through the Online Payment Agreement application. Fresh Start Tax LLC can charge you a low fee to take care of this online payment agreement for you.
Installment Agreements and Payment Plans .
You can also request an installment agreement before your current tax liabilities are actually assessed by using OPA. The OPA option provides you with a simple and convenient way to establish an installment agreement and eliminates the need for personal interaction with IRS and reduces paper processing.
You may also complete and submit a Form 9465, Installment Agreement Request, make your request in writing, or call 1- 866-700-1040 to make your request to Fresh Start Tax LLC.
For balances over $50,000, you are required to complete a financial statement ( 433F )to determine the monthly payment amount for an installment plan. At this point it is best to hire a tax professional because the IRS has specific formulas and IRS can take advantage of taxpayers who have no experience in this arena.
You can pay by Credit or a Debit Card .
To pay your Federal taxes by credit or debit card, you can use all major cards (American Express, Discover, MasterCard, or Visa).
For information on paying your taxes electronically, including by credit or debit card, go to Electronic Payment Options Home Page and contact one of the service providers at its telephone number or Web site listed below and follow the instructions.
There is no IRS fee for credit or debit card payments, but the processing companies charge a convenience fee or flat fee.
If you are paying by credit card, the service providers charge a convenience fee based on the amount you are paying.
If you are paying by debit card, the service providers charge a flat fee of $3.89 to $3.95. Do not add the convenience fee or flat fee to your tax payment.
Call us today for more details and see if a IRS penalty abatement is right for you. 1-866-700-1040
by Fresh Start Tax | Sep 10, 2012 | IRS Tax Debt, IRS Tax Problem, Tax Settlements
Looking for a Tax Debt Settlement Company on the Internet is overwhelming.
There are hundreds to chose from. So how do you know who to pick?
This article is written by a former IRS agent who has worked over 15,000 cases.
It is important to understand the tax debt settlement vertical.
Many of the companies that advertise on the Internet are lead generation companies, that is, they sell your information to the highest bidder. Say $55 a lead.
You can tell a lead generation company because they have no substance to there website. If you check the firm page and bio’s, there is very little information. Many times they are called splash pages or sucker pages.
Many companies claim an “A” rating by the BBB but have had another business qualify there tax vertical. You must be extremely careful when choosing a tax debt settlement company.
What to look for when selecting a Tax Debt Settlement Company
1. Check out the firm bio page and make sure there are the tax professionals working for the tax debt settlement firm. Solid tax debt companies gladly show off there professionals and put up there bio’s on the firm page so you know who will representing you.
2. Who will actually work your case. Are you able to speak directly to the person working your case on the first call. Many tax debt companies have third parties taking the calls who have no knowledge of the tax business. Make sure you know the skill level of the person giving you the advice when you call for the very first time.
3.Beware of Closers. Many firms employ closers, that is a person who will sign you up , make a commission and pass you on to another person.
The unfortunate thing about this is the closer is a salesperson and not a skilled professional. This is the biggest caution. These closers are found in large internet companies and are only there to get a commission from you. Most of the time they cannot even fill out there own income tax return.
4. BBB Rating. Check for the BBB rating but more importantly check out the complaints and how recent they are. Solid companies will have none or under three.
5. Make sure someone does not scare you over the phone. Many persons who use closers will scare you into signing up. They will even tell you will have criminal problems. Do not believe their lies. IRS works less than 5,000 criminal cases a year.
6. Any solid firm will let you speak directly to a Tax Attorney, CPA or Former IRS agent whose credential are posted on their website. If you clearly do not see pictures of the professionals and their credentials, run fast. They are scam artists.
7. Fees. A professional tax firm will not charge exorbitant fees because they are not paying sales commissions. Do not be ripped off by scam internet companies.
Call us today to find out more. 1-866-700-1040. Free Consults.
by Fresh Start Tax | Sep 9, 2012 | FBAR, IRS Penalties, IRS Tax Debt, Tax Lawyer
IRS has fallen in love with FBAR. And why not. 33,000 taxpayers came forward since the dominos fell with UBS and the IRS collected a whopping $5.5 billion in tax, penalties and interest.
IRS will just get tough on FBAR filing. IRS is usually very patient but as programs develop and the word gets out to the public their patience leaves.
But with the advent of UBS and all the press and noise surrounding FBAR it will be tougher and tougher to get penalties and interest abated.
In my own opinion, IRS has been very reasonable with FBAR penalties but the time is coming when taxpayers will have to pay the fiddler on late FBAR filings.
If you are looking to get your penalties and interest abated or removed here are some of the common grounds for abatement:
FBAR and reasonable cause. IRS will consider your:
a. Your compliance history with FBAR and your filing history over the past 7 years,
b. The length of time between your failure to meet your tax obligations and your subsequent compliance, ( did you file as soon as you found out about the issue )
c.Circumstances beyond your control such as health, medical, reasonable business standard,
d. FBAR reasonable cause may be established if you show that you were not aware of specific obligations,
e.Your education level, the higher the education the tough IRS will become,
f.Whether you have previously been subject to the tax for FBAR reporting,
g.Whether you have been penalized before on this same or a similar issue,
h.Whether or not there were recent changes in the tax forms or law that you could not reasonably be expected to know such as the passing of a new law,
i.The level of complexity of a tax or compliance issue,
j. Reliance upon the advice of a professional tax adviser who was informed of the existence of the foreign financial account and do you have written documentation of the event,
k.Evidence that the foreign account ( financial accounts ) was established for a legitimate purpose.
l.Evidence that there was no effort to intentionally conceal or hide the reporting of income or assets or other.
m. Special cause. Each case is based on its own set of facts.
No one single factor will determine reasonable cause and no one case is the same. Each case if based on its own set of facts. Being Former IRS agents we know all the inside information on penalty abatement’s.
Call us today to find out more and see how much we may be able to save you. 1-866-700-1040.
by Fresh Start Tax | Aug 25, 2012 | IRS Tax Debt, IRS Tax Problem, Tax Levy and Wage Garnishments
We are a IRS tax specialty firm dealing with IRS tax resolution.We are comprised of Tax Attorneys, CPA’s and Former IRS agents who have over 60 years with the IRS.
As a former IRS agent I have filed thousands of levies when working for the IRS. I/we know the exact and quickest way to get the levy released.
We can get bank account levies usually released within 5 days. Believe no tax resolution company that tells you different, they would be scam artists.
Bank Account Levies can be handled and released with simple procedures.
Most of the time, bank accounts are levied because taxpayers fail to answer a series of letters sent by the IRS. IRS has no choice but to levy. IRS will either send out a bank levy or a wage levy or both.
Once contact is made with the IRS and financial information given to them with documentation, the IRS will work out a settlement strategy and settle.
There is a lot of skill involved in getting what is in the best interest of the taxpayer and not the IRS. Call us today and we will review your options of get your bank account levy released and get you immediate tax levy release
Bank Account Levy Holding Period, the good news!
A bank that received a bank account levy must wait 21 calendar days after a levy is served before sending payment to the IRS.
Then, on the next business day ( the 22nd day ), it must turn over the taxpayer’s money to the IRS. 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 other like types.
During the 21 holding period most levies can be released. It is our magic time to call IRS get the levy released and get our clients case settled.
Most clients will be filling out a form 433A or 433 F along with financial documentation to get the bank account levy released by the IRS.
IRS will also use this contact period to make sure all tax returns are filed and up to date.
Call us at 1-866-700-1040 and start the process right now.
We are affordable, friendly and assessable, since 1982.
by Fresh Start Tax | Aug 23, 2012 | Back Taxes, IRS Tax Debt, Offer in Compromise
We are former IRS agents who taught Tax Law at the IRS . We are offer in compromise and tax settlement experts.
Let us offer a free tax consultation to your back tax problem. 1-866-700-1040
There are several different options how to pay back taxes to the IRS.
This article will deal with the method of payment and the form of repayment.
Back taxes will always be a tax problem until you remove your case off of the CADE enforcement computer of the IRS.
If you are looking to retain a professional tax firm you should look to Fresh Start Tax LLC to find the easiest and most affordable ways to get Uncle Sam off your back.
We are comprised of Tax Attorneys, CPA’s and Former IRS Agents. We have over 60 years of working directly for the IRS.
Tax options to pay Back Taxes to the IRS:
Methods of making the back taxes payment
a.Electronic Funds Transfer.
You can pay your tax bill by electronic funds transfer, check, money order, cashier’s check or cash. To pay using electronic funds transfer, use the Electronic Federal Tax Payment System by either calling 800-555-4477 or using the online access at www.eftps.gov.
b.Credit card payments.
You can pay your bill with a credit card. Again, the interest rate on a credit card may be lower than the combination of interest and penalties the IRS must charge.
To pay by credit card you can contact one of the following processing companies:
1. WorldPay US, Inc. at 888-9PAY-TAX (or www.payUSAtax.com),
2. Official Payments Corporation at 888-UPAY-TAX (or www.officialpayments.com/fed), or
3. Link2Gov Corporation at 888-PAY-1040 (or www.pay1040.com)
How to get more time, get installment agreements of apply for a tax settlement
Installment Agreements.
You may request an installment agreement if you cannot pay the total tax you owe in full.
This is an agreement between you and the IRS to pay the amount due in monthly installment payments. There are different options depending on the facts and circumstances of each case. you should contact us directly to find out the options on your particular case.
Note: You must first file all required returns and be current with estimated tax payments. IRS will refuse to deal with you if you are not fully compliant with all tax filings.
If you owe under $50,000 we can get you a guaranteed installment agreement without detailed financial information however if you owe over $50,000 the work is much more involved and detailed financial statements will be required by the IRS.
Offer in Compromise, Tax Settlement
IRS is now offering more flexible terms with its Offer-in-Compromise Program.
An OIC is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax debt for less than the full amount owed.
An OIC is generally accepted only if the IRS believes, after assessing the taxpayer’s financial situation, that the tax debt can’t be paid in full as a lump sum or through a payment agreement.
The offer in compromise ( tax settlement ) is a very detailed format and requires the filing of a 433 OIC and 656. IRS spends an average of 20 man hours for every offer in compromise it accepts.
Call us to make sure you are a candidate for a offer in compromise or a tax settlement. If you are a candidate you will settle for pennies on a dollar. We are Offer in Compromise specialists.
Fresh Start Program just initiated by the IRS has made the Service a friendlier agency to deal with. Call us for more details.
How to pay Back Taxes to the IRS – Tax Settlement, Offer in Compromise – Fresh Start Tax LLC
by Fresh Start Tax | Jul 15, 2012 | Back Taxes, Expatriate Tax, IRS Tax Debt, Tax Help, Tax Lawyer
If you feel like the IRS may be coming your way, breathing down your neck or you know that the time is right to get things in order, call us for a no cost professional tax consult. 1-866-700-1040.
We can take all the worry and fear out of this process so you will never have to speak to the IRS, ever. We know how to win because of our 60 years of direct working experience at the IRS in the local, district and regional offices of IRS. We taught Tax Law at the IRS.
We can file all your tax returns or any back tax years and if you owe IRS taxes we can settle your taxes with an offer in compromise upon qualification.
You can speak directly to a Tax Attorneys, Lawyers, CPAs or Former IRS Agents and Managers. We are Expat IRS Tax Help experts.
Since 2011, the IRS has really stepped up their enforcement activities for Expatriates Tax.
The high end targets of IRS for Expat Tax activity will be in the area of non filers and accounts that owe over $1500 per year in tax. The IRS is setting up specialized Revenue Agent Groups or task forces to handle this world wide activity and global tax problem of not filing, not paying.
Taxpayers usually fall in two categories with the IRS. Those who did not know about filing requirements ( innocent ) and those that willfully neglected filing.
We can help both. At some point, the IRS will be tracking down everyone. IRS has just started these processes. Over 33,000 non filers have come forward so far and the IRS knows there is a goldmine of revenue to collected in Expat taxes.
How to save tax dollars. Requirements:
If you meet certain requirements, you may qualify for the foreign earned income and foreign housing exclusions and the foreign housing deduction.
If you are a U.S. citizen or a resident alien of the United States and you live abroad, you are taxed on your worldwide income.
You may however qualify to exclude from income up to an amount of your foreign earnings that is now adjusted for inflation.
Exclusion Dollar Amounts:
$91,400 for 2009,
$91,500 for 2010,
$92,900 for 2011,
$95,100 for 2012.
In addition, you can exclude or deduct certain foreign housing amounts.
Penalty imposed for not filing for expatriation
Anyone who has expatriated or terminated his U.S. residency status must file Form 8854, Initial and Annual Expatriation Information Statement .
Form 8854 must also be filed to comply with the annual information reporting requirements of Internal Revenue Code section 6039G, if the person is subject to tax under Section 877 of the Code.
IRS Penalty:
A $10,000 penalty may be imposed for failure to file Form 8854 when required.
IRS is sending notices to expatriates that have not complied with the Form 8854 requirements, including the imposition of the $10,000 penalty where appropriate.
Expatriate Tax , IRS Tax Help , IRS EXPAT EXPERTS , Former IRS, Attorneys , Filing Returns, Back Taxes, Settle Taxes
