by Fresh Start Tax | Jul 13, 2012 | Back Taxes, Expatriate Tax, IRS Tax Problem, Offer in Compromise, Offshore Tax Problems
We are Tax Experts for UAE, Dubai Expat Tax Issues and Tax Problems.
We have a combined 206 years of total tax experience and over 60 years of working directly for the IRS. As former IRS Agents we worked as teaching instructors, Revenue Agents, IRS Managers, IRS Auditors, Revenue Officers and Appeals Agents. We also taught tax law at the IRS.
We have on staff Tax Attorneys, Tax Lawyers, and CPA’s.
We can answer all your questions regarding tax returns, tax credits, tax exclusions, and back tax filings. We also address the issue of abatement of penalties and interest due to reasonable cause and settlements negotiations called offers in compromise.
Have no fear of the IRS. We worked for them and we know how to fight back.
What to expect form the IRS.
The Internal Revenue Service has found a gold mine working FBAR and Expatriate Cases. During the past 3 filing season the IRS collected over $4.4 billion large. With the passing of new legislation and funding the IRS will be receiving over $500 Million in new budget revenue. IRS is targeting four new high target areas:
1. FBAR and Expatriates,
2. Modernizing their computer system to catch tax cheats,
3. Criminal Activities,
4. Enforcement for non filers
When to File your tax returns.
If you are a U.S. citizen or resident alien residing overseas, or are in the military on duty outside the U.S., on the regular due date of your return, you are allowed an automatic 2-month extension to file your return and pay any amount due without requesting an extension.
For each calendar year return, you will be given the automatic 2-month extension is to June 15.
If you are unable to file your return by the automatic 2-month extension date, you can request an additional extension to October 15 by filing Form 4868 before the automatic 2-month extension date.
However, any tax due payments made after June 15 will be subject to both interest charges and failure to pay penalties.
If you are having an tax problems, owe back taxes,or have questions with FBAR or Overseas Tax Issues, call us today, 1-866-700-1040, SKYPE available.
UAE, Dubai Expats, TAXES,Back Tax Return Filings, Tax Advise, Expert Tax Help, Attorneys, Former IRS, Affordable
by Fresh Start Tax | Jul 12, 2012 | Expatriate Tax, Offshore Tax Problems, Tax Lawyer
Let us take away all the difficulty and help reduce all worries or fear. Call us for a free consultation. 1-866-700-1040.
We know the tax law and can save you money. We taught Tax Law at the IRS.
We are comprised of Tax Attorneys, Tax Lawyers, CPA’s and Former IRS Agents and Managers.
We are Expatriate – Canadian specialists.
We have over 206 years of combined tax experience and over 60 years with the IRS in the local, district and regional offices of the Internal Revenue Service.
If you are experiencing an IRS tax difficulties we can take away all fear and anxiety. We know the tax systems and internal policies.
Ways to help reduce taxes in Canada as a resident of Canada working overseas:
1. Canadian Incorporated Company.
a. This will offer tax some benefits through income splitting and an average tax rate of less than 20%.
b. Dividends paid to directors are less than taxes on salaries.
2. Foreign Tax Credits.
Taxes that are paid elsewhere are deducted from Canadian Taxes. This can greatly reduce your tax obligation are tax debt.
3. Overseas Employment Tax Credit.
These tax credits can reduce your taxes if you are employed by a specified Canadian Company in the energy or engineering fields.
4. New Tax Procedures now in place for Canadian Registered Savings Plans
The new procedures will allow resolution of certain issues related to certain foreign retirement plans such as Canadian Registered Retirement Savings Plans. In some circumstances, tax treaties allow for income deferral under U.S. tax law, but only if an election is made on a timely basis. The streamlined procedures will be made available to resolve low compliance risk situations even though this election was not made on a timely basis.
by Fresh Start Tax | Jul 9, 2012 | Back Taxes, FBAR, Offshore Program, Offshore Tax Problems, Representation, Tax Lawyer
We are a Tax Specialty Firm. We are IRS Tax Experts in Offshore Tax Issues, Compliance and Tax Problems.
Call us for a no cost tax consult, 1-866-700-1040.
We are comprised of Tax Lawyers, Board Certified Tax Attorneys, CPA’s and Former IRS Agents.
We can handle all IRS filings, file back or lost tax returns, settle and negotiate Tax Debt and fully handle all IRS Tax Representation or Tax Problems.
You will never speak to the IRS.
Offshore Tax is one of the many specialties at Fresh Start Tax LLC, a Global Company.
We have over 60 years of direct IRS work related experience in the local, district and regional tax offices.
We taught Tax Law at the IRS.
Terms of Compliance of Offshore Tax Compliance.
What are the terms of the 2011 Offshore Voluntary Disclosure Initiative?
Under the new terms of the 2011 Offshore Voluntary Disclosure Initiative, taxpayers absolutely must:
1. Taxpayers are to provide copies of previously filed original (and, if applicable, previously filed amended) federal income tax returns for tax years covered by the voluntary disclosure;
2. Taxpayers are to provide complete and accurate amended federal income tax returns (for individuals, Form 1040X, or original Form 1040 if delinquent) for all tax years covered by the voluntary disclosure, with applicable schedules detailing the amount and type of previously unreported income from the account or entity e.g., Schedule B for interest and dividends, Schedule D for capital gains and losses, Schedule E for income from partnerships, S corporations, estates or trusts.
3. Taxpayer are to file complete and accurate original or amended offshore-related information returns (see FAQ 29 for certain dissolved entities) and Form TD F 90-22.1 Report of Foreign Bank and Financial Accounts, commonly known as an “FBAR” for calendar years 2003 through 2010;
4 Taxpayers are to cooperate in the voluntary disclosure process, including providing information on offshore financial accounts, institutions and facilitators, and signing agreements to extend the period of time for assessing tax and penalties;
Offshore Penalty Provisions:
1. Pay 20% accuracy-related penalties under IRC § 6662(a) on the full amount of your underpayments of tax for all years;
2.Pay failure to file penalties under IRC § 6651(a)(1), if applicable;
3.Pay failure to pay penalties under IRC § 6651(a)(2), if applicable;
4. In lieu of all other penalties that may apply, including FBAR and offshore-related information return penalties, a miscellaneous Title 26 offshore penalty, equal to 25% (or in limited cases 12.5% (see FAQ 53) or 5% (see FAQ 52)) of the highest aggregate balance in foreign bank accounts/entities or value of foreign assets during the period covered by the voluntary disclosure,
5.Submit full payment of all tax, interest, accuracy-related penalty, and, if applicable, the failure to file and failure to pay penalties with the required submissions set forth in FAQ 25 or make good faith arrangements with the IRS to pay in full, the tax, interest, and these penalties (see FAQ 20 for more information regarding a taxpayer’s ability to fully pay) (the suspension of interest provisions of IRC § 6404(g) do not apply to interest due in this initiative); and
Taxpayers must also execute a Closing Agreement on Final Determination Covering Specific Matters, Form 906.
Offshore Tax Lawyer – IRS Tax Experts – Former IRS, File, Settle, Negotiations, Representation
