by Fresh Start Tax | Nov 29, 2012 | New Jersey Tax, Tax Levy and Wage Garnishments
IRS Levy Help – Bank Levy, Wage Garnishment – Immediate Results 1-866-700-1040
We can get your bank levy or wage garnishment released and work out a tax settlement all at the same time. Being Former IRS Agents, we know the exact and quickest process. 1-866-700-1040.
We are comprised of Tax Attorneys, Tax Lawyers, CPA’s and Former IRS Agents, Managers and Instructors. We have over 60 years of direct IRS work experience in the local district and regional offices of the Internal Revenue Service.
Fresh Start Tax LLC – New Jersey
209 Cooper Ave,
Upper Montclair, NJ 07043
1-866-700-1040
Bank Levies.
Bank levies that are sent to financial institutions are freezes on funds in your bank account for 21 days. Your bank account in not closed. Just the money is frozen on the day the levy hits the bank. Usually levies can easily be removed within the 21 days.
A Wage Levy Garnishment.
Wage Levy Garnishment go into effect your next paycheck and will continue until your levy is released. The Wage Levy does not stop. Fresh Start Tax LLC can usually get your levy released by your next pay check.
To get a Levy or Garnishment Release.
We will need to provide the IRS with a current IRS financial statement. IRS will want either a 433A or a 433F. That financial statement will have to be documented to verify and ensure its correctness. There is a list of items the IRS will want. We will review those with you.
Also, you will need to have all tax returns filed and up to date.
What is a IRS Levy or Tax Garnishment.
A tax levy is a legal seizure of your property to satisfy a tax debt.
Tax levies are very different from federal tax liens. A federal tax lien is a claim used as security for the tax debt, while a tax levy actually takes the property to satisfy the tax debt.
If you do not pay your taxes the IRS may/will seize and sell any type of real or personal property that you own or have an interest in.
As an example:
IRS can seize and sell property that you hold such as your car, boat, house, or
they could levy property that is yours but is held by someone else such as your wages, retirement accounts, IRA, pensions, dividends, bank accounts, licenses, rental income, accounts receivables, the cash loan value of your life insurance, or commissions.
Important Note – IRS can only levy or garnish after these three requirements are met:
1. The IRS assessed the tax and sent you a Notice and Demand for Payment;
2. You the taxpayer 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 may 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.
Managerial Review
You may ask an IRS manager to review your case, or you may request a Collection Due Process hearing with the Office of Appeals by filing a request for a Collection Due Process hearing with the IRS office listed on your notice.
You must file your request within 30 days of the date on your notice.
Some of the issues you may discuss include:
a. You paid all you owed before we sent the levy notice,
b. The IRS assessed the tax and sent the levy notice when you were in bankruptcy, and subject to the automatic stay during bankruptcy,
c. IRS made a procedural error in an assessment,
d. The time to collect the tax (called the statute of limitations) expired before we sent the levy notice,
e. You did not have an opportunity to dispute the assessed liability,
f. You wish to discuss the collection options, or
g. You wish to make a spousal defense.
Call us today for a free no cost consult 1-866-700-1040.
IRS Levy Help – Bank Levy, Wage Garnishment – Immediate Results – Former IRS, Attorneys
by Fresh Start Tax | Nov 29, 2012 | IRS Tax Audit, New Jersey Tax, Sales Tax, Tax Audit, Tax Lawyer
IRS Tax Audit – Sales Tax Audit – Former Agents
We are a professional tax firm specializing in IRS and New Jersey Tax Audits;
On staff are Tax Attorneys, Tax Lawyers, CPA’s and Former IRS agents.
Fresh Start Tax LLC – New Jersey
209 Cooper Ave,
Upper Montclair, NJ 07043
1-866-700-1040
We have 60 years of direct IRS work experience and have worked in conjunction with the State in various forms of Sales Tax Audits.
You may call us for a no cost professional tax consult so you can learn about the scope and direction of a IRS Tax Audit or a Sales Tax Audit.
All work is done in house by certified tax professionals.
There are different type of tax audits. The most common type of tax audits:
1. A mail correspondence tax audit. Over 1.4 million tax returns are audited this way. the IRS simply sends a notice advising you there was a math or computation error on your tax return.
2. The DIF tax audit. Your tax return fell out of the national standard for income and expense ratios. Each return has a DIF number attached and is classified information.
3. Specialty program. IRS runs special programs on industries and businesses. Many times this can relate to the area abuses.
4. Whistle blower. Someone rats you out.
5. National Research Projects
Importance of National Research Projects Results. ( in depth look )
Because NRP results are used to develop or update formulas for scoring returns as to their probability for additional tax or additional income, it is essential that examinations be thorough. Examiners should remain mindful of causing undue burden for the taxpayer.
Scope of Examination .
Every classified item must be examined. An inquiry or an inspection of records and documents must be made for all classified line items.
Expansion of Audit Scope.
If the examination reveals changes to any of the classified items, the examiner usually considers expanding the examination to include other items, if any, on the return or supporting schedules. These audits become more in depth.
NRP selection is not a basis for expanding the scope of an examination, if the examination was in process prior to the return being designated by NRP.
For any return closed prior to its designation as an NRP return, an NRP report will be completed based on the results of such examination if the NRP Office determines the results are valid for study purposes.
These NRP tax audits are used to set the National Standards for DIF scores.
Related Entity Examinations.
If a related entity is classified, the tax examiner usually follows the required filing checks procedures. If the related entity is not examined, the examiner will document why it was not examined and no-change the issue on RGS. If the related entity is deemed worthy of examination, the examiner needs to timely request controls on the related return and open an examination on that entity.
If the related entity is outside the group control, the examiner will follow the procedures outlined in the IRM for collateral examinations.
Depth of a NRP Tax Examination.
Tax Examiners must use their professional judgment concerning the depth of examination required for any particular item on the tax return bearing in mind the research nature of the examination.
Tax Examiners should use professional judgment regarding the depth of examination of an issue. The depth of the examination of a NRP examination is the same as is used in field audits.
NRP taxpayers must not be held to a higher standard or more in-depth audit procedures.
Issues should be perused to the depth necessary to reach a support able conclusion. Oral testimony may be accepted in appropriate situations.
Call us today for a no cost professional tax consult 1-866-700-1040.
IRS Tax Audit – Sales Tax Audit – Former Agents – Upper Montclair, Cedar Grove, West Orange, Ridgewood, Mendham, Franklin Lakes, Newark, Bernardsville – New Jersey
by Fresh Start Tax | Nov 29, 2012 | IRS Tax Problem, New Jersey Tax, Tax Lawyer, Tax Relief
IRS Lawyers, Tax Attorneys – IRS Problems, Tax Relief Resolution
We are comprised of Board Certified Tax Attorneys, Tax Attorneys, CPA’s and Former IRS Agents, Managers and Instructors.
We have over 205 years of total tax experience and over 60 years of direct work experience at the IRS. We solve all IRS problems and can get you immediate tax relief resolution.
We taught Tax Law at the IRS and have trained IRS agents. We know all the tax policies and tax procedures.
We offer a no cost 30 minute tax consult. You will speak directly to a tax professional 1-866-700-1040.
Fresh Start Tax LLC – New Jersey
209 Cooper Ave,
Upper Montclair, NJ 07043
1-866-700-1040
The use of a professional tax firm.
There are many companies that appear on the web. At best guess there are over 100,000 companies that claim to resolve IRS problems and can get you tax relief resolution.
The average consumer is not aware of a simply fact, most of the companies that advertise are ” lead generators”.
A lead generator sets up a website that appears to be like a professional site. The lead generators then sell your information or lead to the highest bidder. Most bids fall in the $60 range.
Your information is being sold to third parties you have no idea about.
When hiring a professional tax firm, check out the following:
1. The professional credentials,
2. Check out the years of IRS experience,
3. Check out BBB ratings,
4.Check out the staff, make sure the tax firm has multiple professionals that can handle your case,
5. Ask to speak directly to the tax professional that will be handling your work, a secretary will not do,
6. If they guarantee a result, run away as fast as you can,
7. If they brag about settling your case for pennies on a dollar be very careful, true professional firms are not fast to make such claims until the case has been thoroughly reviewed,
8. Make sure to ask on similar cases like yours, what are typical results.
9. Let your gut and instinct take over,
10. Make sure you call around and hear from a least three companies.
Call for a no cost consult 1-866-700-1040.
IRS Lawyers, Tax Attorneys, Former IRS, – IRS Problems, Tax Resolution, – Upper Montclair, Cedar Grove, West Orange, Ridgewood, Mendham, Franklin Lakes, Newark, Bernardsville, – New Jersey
by Fresh Start Tax | Nov 28, 2012 | New Jersey Tax, Offer in Compromise, Tax Settlements
Offer in Compromise – Settle IRS Tax Debt – Former IRS Agent, Tax Lawyers
Upper Montclair, Cedar Grove, West Orange, Ridgewood, Mendham, Franklin Lakes, Newark, Bernardsville – New Jersey
Have Former IRS Agents, Managers and Instructors who worked and taught the Offer in Compromise Program at the IRS settle your IRS Tax Debt.
Settle for the lowest amount allowed by Law.
We have worked hundreds of case and know the exact formulas of the Internal Revenue Service. Over 60 years of combined IRS tax experience.
We taught Tax Law to new IRS agents and know the exact policies of settlement structures.
You can call us today, 1-866-700-1040 for a no cost consult and let us review your information to see if you are a Offer in Compromise candidate.
The IRS Offer In Compromise/ Settle with the IRS
An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than the full amount of the taxes that are 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.
General Rule of thumb.
You must at least offer IRS all the equity you have in your total assets. IRS will not expect a offer unless your total value of assets to the IRS. Equity is consider a discounted fair market value.
Assets also included home value, IRA’s and Pension Plans
Call us for more details. 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 (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, and other property.
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 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.
Second, acceptance 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, acceptance is permitted based on effective tax administration or exceptional circumstances.
An offer 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.
The Process
While your offer in compromise is being evaluated by the IRS:
1. Your non-refundable payments and fees will be applied to the tax liability,
2. A Notice of Federal Tax Lien may be filed if the IRS feels the offer is frivolous,
3. Other collection activities may and are suspended,
4. The legal IRS tax assessment and collection period is extended for the time in offer status,
5. You need to make all required IRS tax payments associated with your offer in compromise,
6. You are not required to make payments on an existing installment agreement; and
7. Your offer in compromise is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.
Offer in Compromise – Settle IRS Tax Debt – Former IRS Agent, Tax Lawyers 1-866-700-1040
by Fresh Start Tax | Nov 28, 2012 | IRS Tax Debt, New Jersey Tax, Tax Settlements
IRS Tax Debt Relief – Settle Tax Debt – New Jersey
We are comprised of Board Certified Tax Attorneys, Tax Lawyers, CPA’s and Former IRS Agents and Managers.
We taught the Offer in Compromise Program at the IRS as former IRS agents.
We have over 206 years of professional tax experience and over 60 years working directly for the IRS in positions as agent, Managers and Appeals Agents. We are A plus rated.
Call us for a no cost professional tax consult and speak directly to a true Tax Professional. 1-866-700-1040.
Fresh Start Tax LLC – New Jersey
209 Cooper Ave,
Upper Montclair, NJ 07043
1-866-700-1040
How does IRS Settle your Tax Debt.
At least one of three conditions must be met to qualify a taxpayer for consideration of an Offer in Compromise or a tax debt settlement:
1. Doubt as to Liability of the Tax.
The taxpayer can show reason for doubt that the assessed tax liability or assessment is incorrect,
2. Doubt as to Collectibility.
The taxpayer can show that the tax debt is likely uncollectible in full by the IRS under any circumstances and wishes to compromise the tax debt.
3. Effective Tax Administration.
The taxpayer does not contest liability or collectibility but can demonstrate extenuating or special circumstances that the collection of the debt would create an economic hardship or would be unfair and inequitable.
This type of Offer in Compromise program is available for any taxpayer, but is primarily used by individuals that are elderly, disabled, have medical issues or have special extenuating circumstances. These are rarely accepted.
Doubt as to Collectibility
Doubt as to collectibility means that the taxpayer will never be able to fully pay the tax bill. The IRS will consider a settlement based on the following formula:
a. Settlement Amount = (monthly disposable income x a number of months) + the net realizable equity in the taxpayer’s assets.
b. Disposable income is monthly income minus allowable monthly expenses. It is important to recognize that the IRS will not allow all expenses the taxpayer may actually have.
With the New Fresh Start Program the IRS is allowing more in the way of necessary expenses.
c. The number of months over which disposable income must be calculated into the offer amount is based on the smaller of the number of months remaining until the Collection Statute Expiration Date for the tax debt OR either 12 or 24 months, depending on the payment option for the Offer in Compromise which the applicant is selecting.
d. Net realizable equity in assets is the quick sale value of the asset (often 80% of Fair Market Value minus any liabilities which are secured by the asset (e.g., a loan).
If a taxpayer believes he or she qualifies, the taxpayer completes a 433 OIC financial statement along with a 656 form to the IRS. At Fresh Start Tax LLC we qualify any offer before submission.
IRS can still proceed with collection.
Some of the actions we may take to collect taxes include:
1. Filing a Notice of Federal Tax Lien
2. Serving a Notice of Levy, or
3. Offsetting a refund to which you are entitled
The federal tax lien is a legal claim to your property, including property that you acquire after the lien arises.
The federal tax lien arises automatically when you fail to pay in full the taxes you owe within ten days after we send our first notice of taxes owed and demand for payment.
The government also may file a Notice of Federal Tax Lien in the public records.
The Notice of Federal Tax Lien publicly notifies your creditors that the IRS has a claim against all your property, including property acquired by you after the Notice of Federal Tax Lien is filed .
The filing of a Notice of Federal Tax Lien may appear on your credit report and may harm your credit rating.
Once a federal tax lien arises, the IRS generally cannot release the lien until the taxes, penalties, interest, and recording fees are paid in full or until the IRS may no longer legally collect the tax.
The IRS may withdraw a Notice of Federal Tax Lien if the IRS determines that
1. the Notice was filed too soon or not according to IRS procedures;
2.you enter into an installment agreement to satisfy the liability unless the installment agreement provides otherwise;
3.withdrawal will allow you to pay your taxes more quickly; or
4.withdrawal is in your best interest, as determined by the National Taxpayer Advocate, and the best interest of the government.
Call us today and hear the truth about your case 1-866-700-1040.
IRS Tax Debt Relief – Settle Tax Debt – Upper Montclair and other cities.
by Fresh Start Tax | Nov 8, 2012 | Expatriate Tax, FBAR, IRS Tax Problem, New Jersey Tax, Offshore Program, Offshore Tax Problems, Tax Lawyer, Tax Problem Help, Tax Relief
FBAR – Tax Attorneys, Lawyers, Former IRS – FBAR Specialists – New York, New Jersey – Civil & Criminal Representation 1-866-700-1040.
Fresh Start Tax LLC is a professional tax firm comprised of Board Certified Tax Attorneys, Tax Lawyer, CPA’s and Former IRS Agents and Managers.
Stop the worry today. We can get you in the system worry free.
We have over 206 years of professional tax experience and over 60 years with the Internal Revenue Service in the local, district and regional offices of the IRS.
We taught Tax Law at IRS as former Instructors. As a result we know all the policies and settlement procedures for all IRS cases.
You may contact us for a no consult 30 minute professional consultation, 1-866-700-1040.
FBAR
Without question you can expect the IRS and the DOJ to be coming down hard on Offshore and Overseas money that belongs in the coffers of the US government.
As IRS Commissioner Doug Shulman stated in his closing remarks as her is stepping down much of the focus in the past has been on FBAR and Expats due to the volumes of revenue it has generated from the enforcement of tax laws.
Here are the remarks from Shulman
“We view offshore tax evasion as an issue of fundamental fairness. Wealthy people who unlawfully hide their money offshore aren’t paying the taxes they owe, while schoolteachers, firefighters and other ordinary citizens who play by the rules are forced to pick up the slack and foot the bill.
Over the past five years, we have significantly increased our resources and focus on offshore tax evasion, and the results have been substantial. We upped the ante in a meaningful way with our work on Swiss financial institutions – where for the first time in history, a bank secrecy jurisdiction turned over thousands of names and account numbers.
As we increased our enforcement efforts and gained significant momentum, we gave taxpayers a chance to come in voluntarily and avoid going to jail. In a typical year, we used to get 100 or so taxpayers who used our voluntary disclosure program. When we first set up our new program in 2009, we thought that figure would rise to maybe 1,000.
So we are very pleased that we’ve had approximately 38,000 voluntary disclosures from individuals who came in under the special programs.
To date, these individuals have paid back taxes and stiff penalties amounting to more than $5.5 billion, and the number continues to grow. We are mining the information we have received and have launched our next wave of investigations on banks, bankers, intermediaries and taxpayers.
Collecting additional revenue for past misdeeds – as important as that may be – is not the only, or even primary, consideration here. It’s perhaps more important that we’re bringing U.S. taxpayers back into the system…back into compliance… so they properly report and pay their taxes for years to come. We have fundamentally changed the risk calculus of taxpayers who are thinking about hiding their money overseas, and we are well on our way to deterring the next generation of taxpayers from using hidden bank accounts to cheat on their taxes.
The inside skinny at the IRS FBAR, Expats
Under Obamacare the IRS is expecting to hire 15,000 new IRS agents. IRS is already launching new software and technologies to move in to the future regarding Offshore monies. Because of the huge success of this program a word to the wise, seek IRS before them seek you.
Each taxpayer has different options. We carefully review each case we receive and carefully plan the best remedy to fully and completely resolve your problem so do not fear cripple you.
We have successfully resolved thousands of taxpayers cases. Call us today to hear the truth and get results.1-866-700-1040.
