by Fresh Start Tax | Jul 13, 2012 | Expatriate Tax, FBAR, IRS Tax Experts, Offshore Program, Tax Help, Tax Lawyer
Is the IRS on your mind? Let us permanently resolve your tax issue.
We taught Tax Law at the IRS and know there tax settlement policies.
Let us take away the fear and worry. You will never have to talk to the IRS.
We are tax experts for US Citizens, UAE, Dubai Tax Issues.
Call us or skype us for a no cost consult.
1-866-700-1040 SKYPE PASSWORD – freshstarttax
We know exactly what the IRS will do because we are Former IRS Agents. As a result, we know all their tax policies, codes and closing procedures used to settle every type of case.
We are comprised of Tax Attorneys, CPA’s and Former IRS agents and managers.
We taught Tax Law at the Internal Revenue Service. We have over 60 years with the IRS and over 206 years of total tax experience.
How to save tax and keep your money.
Did you know that foreign earned income exclusion, the foreign housing exclusion, and the foreign housing deduction are based on foreign earned income?
For this very purpose, foreign earned income is income you receive for services you perform in a foreign country during a period your tax home is in a foreign country and during which you meet either the bona fide residence test or the physical presence test.
Earned income is pay for personal services performed, such as wages, salaries,or professional fees.
The list that follows classifies many types of income into three categories. The column headed Variable Income lists income that may fall into either the earned income category, the unearned income category, or partly into both.
For more information on earned and unearned income, see Earned and Unearned Income, below.
Classification of Types of Income
| Earned Income |
Unearned Income |
Variable Income |
| Salaries and wages |
Dividends |
Business profits |
| Commissions |
Interest |
Royalties |
| Bonuses |
Capital Gains |
Rents |
| Professional fees |
Gambling winnings |
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| Tips |
Alimony |
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Social security benefits |
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Pensions |
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Annuities |
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Call today for a no cost consult. 1-866-700-1040.
US Citizens Taxes, UAE, Dubai, IRS Tax Experts, Help, Problem, Tax Filings, Former IRS, Attorneys, Expatriate, FBAR
by Fresh Start Tax | Jul 11, 2012 | IRS Tax Audit, IRS Tax Experts, IRS Tax Problem, Representation, Tax Audit, Tax Lawyer, Tax Problem Help
We are comprised of Board Certified Tax Attorneys, Tax Lawyers, CPA’s and Former IRS Agents. We are true IRS Tax Audit Experts. We taught Tax Law at the IRS and know all the procedures, policies and settlement techniques.
Call for a no cost consult. 1-866-700-1040.
We have over 60 years of direct work experience at the IRS at all levels. We have worked as:
1. Revenue Agents,
2. IRS Auditors ,
3. IRS Audit Managers,
4. Appeals Agents,
5. Revenue Officers,
6. We also taught Tax Law at the IRS.
Our firm has a total of 205 years of total tax experience and have been practicing since 1982 and have a “A” rating with the BBB.
FBAR IRS TAX AUDITS
With IRS collecting over $4.4 billion bucks in past FBAR monies over the past 3 years, the IRS is setting up special groups to deal specifically with FBAR tax audits. Also, the IRS is modernizing its CADE computer system with the latest version, CADE 2. With that in place it will allow the IRS to track taxpayers and successful integrate income tracking software to find unreported income, tax returns and unfiled FBAR reports.
FBAR tax audits are very time consuming and can last anywhere from 3 months to well over a year.
Many times the IRS Tax Auditor reviewing your case can be very unreasonable and just want to close out your case. We find this is true with FBAR tax audits.
We know all the tax procedures and settlement thresholds because we taught them as former IRS Agents.
Call us today and we can review your case for no charge and see if we can help you. 1-866-700-1040.
Let our team of Tax Attorneys, Tax Lawyers and Former IRS Agents can keep your money from the IRS.
Many times we have to file a Federal Tax Appeals to save you large dollars. We fight for every nickel, we hate to lose.
Your Appeal Rights
The IRS has an administrative appeals process that works formally with taxpayers to try to settle tax disputes in an effort to avoid formal court hearings.
The role of Appeals function at the IRS is to make an independent review of a tax dispute and to consider the positions taken by both the taxpayer and the Service. The Appeals function strives to resolve tax disputes in a fair way and remain impartial to both parties and most of the time they do.
The IRS will send you a report and/or letter that will explain the proposed adjustments or proposed or taken collection action. The letter also tells you of your right to request a conference with an Appeals or Settlement Officer, as well as how to make your request for a conference.
IRS Appeals conferences are informal meetings. You may represent yourself or have an attorney, accountant, or an individual enrolled to practice before the IRS, represent you. If you do not reach agreement with the Appeals or Settlement Officer, or you do not wish to appeal within the IRS, you may appeal certain actions through the courts.
Call us today to learn more.
FBAR TAX AUDIT – Fear not – Tax Attorneys, Lawyers, Former IRS – IRS Tax Audit Specialists
by Fresh Start Tax | Jul 8, 2012 | FBAR, IRS Tax Experts, Offshore Program, Representation, Tax Lawyer
Contact Fresh Start Tax LLC for all inquiries for FBAR.
All consultations are free, confidential, and you will speak directly to a Tax Attorney or CPA.
We have over 205 years of professional tax experience and over 60 years of professional tax experience.
IRS Total Collection
The collection of more than $4.4 billion so far from the two previous international programs has made the IRS excited in the FBAR- Offshore Program.
$4.4 Billion is just the tip of the iceberg.
Continuation of the OVDP – FBAR Program
The Third Offshore Program
The third offshore program comes as the IRS continues working on a wide range of international tax issues and follows ongoing efforts with the Justice Department to pursue criminal prosecution of international tax evasion.
Commissioner Statement:
“Our focus on offshore tax evasion continues to produce strong, substantial results for the nation’s taxpayers,” said IRS Commissioner Doug Shulman. “We have billions of dollars in hand from our previous efforts, and we have more people wanting to come in and get right with the government. This new program makes good sense for taxpayers still hiding assets overseas and for the nation’s tax system.”
The third and latest FBAR – Offshore Program
The FBAR – program is similar to the 2011 program in many ways, but with a few key differences.
Unlike last year, there is no set deadline for people to apply. However, the terms of the program could change at any time going forward. For example, the IRS may increase penalties in the program for all or some taxpayers or defined classes of taxpayers – or decide to end the program entirely at any point.
“As we’ve said all along, people need to come in and get right with us before we find you,” Shulman said. “We are following more leads and the risk for people who do not come in continues to increase.”
Tax Stats:
In all, the IRS has seen 33,000 voluntary disclosures from the 2009 and 2011 offshore initiatives. Since the 2011 program closed last September, hundreds of taxpayers have come forward to make voluntary disclosures.
Those taxpayers who have come in since the 2011 program closed last year will be able to be treated under the provisions of the new OVDP program.
The overall penalty structure for the new program is the same for 2011, except for taxpayers in the highest penalty category.
The New Program Penalty Structure
For the new program, the penalty framework requires individuals to pay a penalty of 27.5 percent of the highest aggregate balance in foreign bank accounts/entities or value of foreign assets during the eight full tax years prior to the disclosure.
This is up from 25 percent in the 2011 program.
Some taxpayers will be eligible for 5 or 12.5 percent penalties; these remain the same in the new program as in 2011.
All taxpayers or participants must file all original and amended tax returns and include payment for back-taxes and interest for up to eight years as well as paying accuracy-related and/or delinquency penalties.
Participants face a 27.5 percent penalty, but taxpayers in limited situations can qualify for a 5 percent penalty.
Smaller offshore accounts will face a 12.5 percent penalty.
Taxpayers whose offshore accounts or assets did not surpass $75,000 in any calendar year covered by the new OVDP will qualify for this lower rate.
As under the prior programs, taxpayers who feel that the penalty is disproportionate may opt instead to be examined.
FBAR Offshore Program – New Guidelines – IRS Tax Experts – Tax Attorneys, Former IRS Tax Specialty Firm – Since 1982
Call us today for a no cost professional tax consult. 1-866-700-1040
