by Fresh Start Tax | Jul 11, 2012 | Back Taxes, Expatriate Tax, Offer in Compromise, Representation, Tax Lawyer, Tax Returns, Tax Settlements
If you are a Expatriate and need help in filing tax returns, filing back taxes or undergoing a IRS Tax Audit, call us for a no cost professional tax consultation. 1-866-700-1040.
We can take the fear and worry out of the IRS tax issue. As Former IRS Agents we know exactly hoe to minimize your IRS exposure.
We are comprised of Board Certificated Tax Attorney, Tax Lawyers, CPA’s and Former IRS agents and Manager.
We have worked for the IRS for over 60 years in both the field office, district and regional offices of the IRS including teaching Tax Law to all the new IRS agents.
We are aware of all the tax techniques, settlement provisions and tax policies that govern all areas of IRS audits, collection, appeals and expatriate cases.
Filing Current Tax Returns
There are many tax treaties in place with foreign countries and special tax laws in place that deal with income exclusions, tax credits and special rulings.Depending on the country where you reside we will analyze all the tax and revenue procedures so you pay the lowest amount allowed by law.
Back Taxes.
With the IRS modernizing their CADE computer system the IRS will be able to root out non filers by tracing their social security numbers that are now part of the matching program with foreign governments. With the IRS finding a wealth of tax dollars, some $4.4 billion overseas, IRS plan to ramp up full enforcement.
Tax Audits.
IRS has received $500 million dollars from the Federal Government to enforce the tax laws and tax compliance of all taxpayers. One of the targets IRS has announced it will work hard is the area of Expatriates. Special IRS Audit Groups are being formed within the IRS to target Expatriate Tax Audits.
Tax Settlements, Offers in Compromise.
Should you owe tax the good news it that the IRS has announced through the Fresh Start Program that IRS tax settlements are now much easier to settle.
Call us for full details on your individual case.
Expatriate Filing Tax Returns, Back Taxes & Tax Audits – Expat IRS Tax Experts – Attorneys, Former IRS – Expats Tax Problem Help
by Fresh Start Tax | Jun 29, 2012 | Back Taxes, Expatriate Tax, Income Tax Preparation, IRS Tax Debt, Offer in Compromise, Representation, Tax Lawyer, Tax Returns, Tax Settlements
ExPats IRS Tax Consultants – Income Tax Prep, File, Tax Settlements – Tax Attorneys, Former IRS 1-866-700-1040
We are a Professional Tax Firm specializing in World Wide Ex-Pat tax consultations, tax services, income tax preparation and IRS tax settlements.
We have been in practice since 1982 and are “A” rated by the BBB.
Skype available. Password freshstarttax.
We are staffed with Tax Attorneys, Tax Lawyers, CPA’s and Former IRS Agents
Expats and everyone living abroad including those with FBAR issues, BEWARE.
Under Obama Care the IRS will be given over $500 million large to enforce compliance and collections of IRS Tax Laws and much of the budget is to aggressively go after International money.
The IRS will be carefully watching Expats because of the non compliance from ExPats.
IRS has found that many Expats not in filing compliance. IRS plans to change this starting next year.
The IRS report is specially targeting international money and IRS is setting Agent Groups up specializing in ExPat stuff.
This is not to scare you but just stating fact. If you are in compliance you do not need to worry or read the rest.
If you are having tax issues or you are in non compliance with the IRS and need to chat, hit us up for a free tax consult. We specialize in Expat Tax.
We have worked countless numbers of these cases.
Since we have worked for the IRS we know all the tax strategies and procedures related to the tax filings and tax settlements to get you through worry free.
Penalties for not filing.
Significant penalty imposed for not filing expatriation form
Anyone who has expatriated or terminated his U.S. residency status must file Form 8854, Initial and Annual Expatriation Information Statement (PDF). 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.
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.
The Instructions for Form 8854 (PDF) provide details about the filing requirements, related definitions and line-by-line instructions for completing the form.
Failure to file or not including all the information required by the form or including incorrect information could lead to a large penalty and tax enforcement.
ExPats IRS Tax Consultants, Income Tax Prep, File, Tax Settlements, Offer in Compromise
We can help today. Call and speak directly to Tax Attorneys, Former IRS or CPA’s.
We are affordable, assessable and will tell your the truth. We can file all back tax returns with or without records through our tax reconstruction methods.
Expatriates IRS Tax Consultants – Income Tax Prep, File, Tax Settlements – Tax Attorneys, Former IRS
by Fresh Start Tax | Jun 20, 2012 | Back Taxes, IRS Tax Debt, IRS Tax Problem, Offer in Compromise, Tax Lawyer
With the new Fresh Start Program offered by the Internal Revenue Service the IRS will find itself flooded with hoards of new offers in compromise also called tax debt settlements so taxpayers can reduce and settle their tax debt with the IRS.
This new program will offer literally thousands of taxpayers a way out that was never afforded to them before.
The old program offered little in the way of a tax settlement. About 15,000 thousand cases were accepted each year out of the 55,000 offers in compromise filed.
I would expect that number of offers in compromise to triple this year. IRS will not have the manpower to keep up with the demand of the new offer in compromise settlements.
The main components of the new Offer in Compromise
The IRS looks at two major aspects;
1.Income and
2. Assets, they care little on your debt situation. Some rules have loosen and each case is based on it own merit.
IRS will investigate four major issues to accept your offer in compromise
The four components of collectibility:
1.net equity in assets,
2.present and future income,
3.amounts collectible from third parties,
4. and amounts available to the taxpayer but beyond the reach of the IRS)
IRS will determine the total asset value of all assets and what is called reasonable collection potential in regards to your present income.IRS adds the two together and comes up with a settlement proposal.
After the IRS reviews your 433 OIC and your 656 the IRS will assign a detailed evaluation of the case and send to you a proposed settlement based on the offer in compromise you turned in along with the financial statement that you provided.
You can have former IRS agents and managers pre-qualify your offer in compromise or your tax debt settlement.
We will provide a free analysis so your do not get ripped off by other tax resolution companies.
You will have Former IRS Agents who were offer in compromise specialists give you a detailed review of the your offer in compromise before it is sent in.
Get free advice on your tax debt settlement.
Call us today for free tax consult. 1-866-700-1040
by Fresh Start Tax | Jun 19, 2012 | Back Taxes, Expatriate Tax, IRS Tax Debt, IRS Tax Problem, Offer in Compromise, Representation, Tax Help, Tax Lawyer, Tax Returns, Tax Settlements
If you are a Ex-Pat and have late, past due, back or unfiled tax returns contact us today for a free tax consultation to completely resolve your tax problem.
We can get you back in the system worry free.
Being Former IRS Agents and Managers we know the system because we were former IRS teaching Agents. We know all the tax procedures and protocols.
We have on staff CPA’s and Tax Attorneys to help deal with any and all tax situations.
We have successfully filed and prepared thousands of back, late, unfiled, past due tax returns.
We will handle all IRS negotiations so you will never be bothered with the IRS.
Should you owe any back taxes we can work out tax settlements called offers in compromise so you will not be effected in any way with the tax debt.
Call us for a free tax consult and speak directly to a tax professional.
Filing Dates for tax Returns:
March 15th Form 1120 and 1120S – Due date for US Corporations and Sub-chapter S corporation unless extended with tax Form 7004.
March 15th – Due date of Form 3520A for foreign trusts
April 15th- Due date for payment of any taxes due for previous calendar year (though if you are living abroad on 4/15 your tax return gets an automatic extension until 6/15)
April 15th Due Date – Form 1040 ES – No 1 pay current years first installment of quarterly income and self employment taxes to avoid penalties.
June 15th Form 1040 ES – No 2 pay current years second installment of quarterly income and self employment taxes to avoid penalties.
June 15th Due date- Expatriate tax return (for expatriate living abroad on 4/15) or time to file for an extension on Form 4868
June 30 Form TDF 90-22.1 US Treasury Form Report of Foreign Bank Accounts Due Date.
July 30th Due date – Self Administered Pension Plan and 401K Tax Return From 5500 or 5500EZ
September 15th Form 1040 Due Date – ES – No 3 pay current years third installment of quarterly income and self employment taxes to avoid penalties.
September 15th Extended Due Date – U.S. Corporation Returns 1120 and 1120S
October 15th Final Expat Form 1040
January 15th Form 1040 ES – No 3 pay past calendar years fourth installment of quarterly income and self employment taxes to avoid penalties.
If you have penalties and interest that need to be addressed call us today to remove penalties and interest for reasonable cause.
by Fresh Start Tax | Jun 19, 2012 | Back Taxes, Expatriate Tax, IRS Tax Audit, Offer in Compromise, Representation, Tax Lawyer, Tax Returns
If you are looking for true professional tax help, advice call Fresh Start Tax L.L.C. for a no cost tax consultation. 1-866-700-1040.
We are true tax experts.
We file all current tax return via e-file and we can file any multiple back, late, or unfiled years tax returns. Should you owe back taxes we can also work on a settlement with the IRS called an offer in compromise or a tax debt settlement.
We can help audit proof your tax return. We have Former IRS Agents and IRS Audit Managers review your tax returns and conduct a pre-audit review to ensure a safe and worry free return. We also take assertive positions to reduce your tax liability so you pay the lowest tax allowed by law.
We are staffed with Tax Attorneys, CPA’s and Former IRS agents, managers and instructors who have over 205 years of professional tax experience and over 60 years of working directly for the Internal Revenue Service.
Expert Expatriate Tax Services, Tax Consultation and Tax Advise.
We will review all of your U.S. Tax Obligations while living abroad and make determinations of which events are and or not taxable.
We also will review all Earned Income exclusions to give you every tax benefit available to you.
We also go over all the tax treaties which range and cover over 60 countries. We review all social security, medicare and self employment tax issues.
U.S. Social Security, Medicare, and Self-Employment Taxes
.
If you are an offshore employee of a U.S. corporation, that employer will normally withhold Social Security and Medicare taxes on your W-2 earnings.
Should you be working for a United States based employer in one of the 20-plus countries with which the U.S. has established a Social Security Totalization Treaty, you may be able to cite a closer connection to the foreign country and participate in that country’s social insurance system, and not have U.S. Social Security and Medicare taxes withheld from your United States pay.
Call us today for a free tax consultation, 1-866-700-1040.
by Fresh Start Tax | Jun 18, 2012 | Back Taxes, Income Tax Preparation, Installment Agreements, IRS Tax Problem, Offer in Compromise, Representation, Tax Help, Tax Lawyer, Tax Returns
If you are a Ex Pat and you need to file your late, back, past due or unfiled tax returns call us today for a free tax consult and get rid of the worry you are dealing with.
We handle all contact with the IRS and you will never speak to them. We fully prepare all back income tax returns and work out a tax settlement if necessary.
Being comprised of Board Certified Tax Attorneys, CPA’s and Former IRS agents 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.
We can not only file all of your back returns we can settle all back tax debt should you owe money to the IRS.
What to do if you have not filed an Income Tax Return:
Among the various new requirements contained in IRC 877 and 877A, individuals that renounced their US citizenship or terminated their long-term resident status for tax purposes after June 3, 2004 are required to certify to the IRS that they have satisfied all federal tax requirements for the 5 years prior to expatriation.
If all federal tax requirements have not been satisfied for the 5 years prior to expatriation, even if the individual does not meet the monetary thresholds in IRC 877 or 877A, the individual will be subject to the IRC 877 and 877A expatriation tax provisions.
Individuals that have expatriated should file all tax returns that are due, regardless of whether or not full payment can be made with the return. Depending on an individual’s circumstances, a taxpayer filing late may qualify for a payment plan.
All payment plans require continued compliance with all filing and payment responsibilities after the plan is approved.
We handle and settle all FBAR cases with true experienced tax professional.
Call today and speak directly to a Tax Attorney. 1-866-700-1040
