by Fresh Start Tax | Jul 9, 2012 | Back Taxes, Income Tax Preparation, Representation, Tax Help, Tax Lawyer, Tax Returns, Tax Settlements
Back Tax Return – File Back Taxes – Former Local IRS Agents, Miami, Ft.Lauderdale, Palm Beaches – South Florida 954-492-0088
If you have back tax returns you need to file, let former IRS Agents worked on the local South Florida offices get you back in the system worry free.
We have over 60 years of direct work experience right here on the local South Florida IRS offices. We worked as agents, revenue officers, revenue agents and appeals agents.
All our work is done in-house and we are hired by several local South Florida tax professional offices to handle their IRS tax matters
We can file all your back tax returns and settle your case.
We were former Local IRS Agents and Managers, today and we know all the tax policies and settlement procedures.
Contact us today and speak directly to tax attorneys, CPAs, and former IRS agents about your back tax return or unfiled back taxes.
We can go over all the different tax options to help remedy or solve your back tax problem.
While at IRS in South Florida we taught Tax Law.
We can file your back tax return or back taxes and settle your case.
We can file all business and personal income tax returns.
We can file a power of attorney and you will never have to speak to the Internal Revenue Service.
Call us for a no cost professional tax consultation. 954-492-0088
We have over 60 years of direct work experience at the local South Florida IRS. We have been Agents, Managers and Teaching Instructors.
We have resolved several hundred tax cases right here in South Florida. We have been practicing tax resolution and representation of taxpayers right here in South Florida since 1982.
Has the IRS contacted you? Beware of the 6020B
Have you received a tax notice from the Internal Revenue Service asking to file a back tax return(s)?
The IRS can and will file your tax return is you do not respond to tax notices regarding filing back returns.
The IRS has the right to issue a bank levy or wage garnishment levy on back taxes if you do not answer their letters on a timely basis.
You must respond to IRS in a timely manner. IRS has the right to prepare your back tax returns under 6020B of the IRC Code. That means they can prepare your tax return and form a tax assessment against you.
6020B of the IRC – IRS can file your tax return
(1) If the taxpayer fails to file employment, excise and
partnership tax returns by the specified date the
return should be prepared under the authority of IRC
6020(b)
We can file all your back tax returns and settle your back taxes.
We are comprised of Tax Attorneys, Tax Lawyers, CPA’s and Former IRS Agents.
We have prepared thousands of back taxes and tax returns since 1982.
Call us today.954-492-0088
Affordable and Assessable.
Back Tax Return – File Back Taxes – Former Local IRS Agents, Miami, Ft.Lauderdale, Palm Beaches, Keys – All South Florida
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
by Fresh Start Tax | Jul 7, 2012 | Back Taxes, FBAR, Representation, Tax Lawyer, Tax Settlements
If you are looking for a true IRS Tax Experts for FBAR or Offshore Tax Issues call Fresh Start Tax LLC for a no cost professional tax consultation. 1-866-700-1040.
We are staffed with 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 Internal Revenue Service.
We taught Tax Law as former IRS agents.
Offshore Tax Issues are on the rise and with the new Health Care Program the IRS will be hiring over 15,500 new IRS Agents. Due to the success from the first two Offshore Programs the IRS has already said that much of their budget will be spent on Offshore targets because of the high volume of success.
Many Offshore taxpayers, Expatriates and others have no need to worry. The filing requirements are laid out and the IRS is making there filing program available on line.
However, there are a considerable amount of taxpayers who were suppose to file but never did so. If you fall in to that categorize you need be concerned.
If you are a individual with International interest and if you own property abroad or have foreign bank accounts, you need a professional tax firm with a specialized expertise in international/ foreign tax law.
Our Professional Service include but not limited to:
1. Reporting for foreign corporations, partnerships, LLC’s, trusts and individuals,
2. Tax Treatment of Passive Foreign Investment Companies,
3. Determination of residency for income tax purposes for foreign nationals,
4. Application of Tax Treaties and Tantalization Agreements to minimize United States Tax and effects on Social Security,
5. State residency tests and particular domicile issues
Our Company Resume: ( Since 1982 )
- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- We taught Tax Law in the IRS Regional Training Center
- Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed and certified to practice in all 50 States
- Nationally Recognized Veteran /Published Former IRS Agent
- Nationally Recognized Published EZINE Tax Expert
- As heard on GRACE 90.3 FM Monthly Radio Show-Business Weekly
by Fresh Start Tax | Jul 7, 2012 | FBAR, Representation, Tax Lawyer, Tax Returns
With the FBAR buzz flying around many questions still surround FBAR itself.
Much has been written and here are some simple answers to common questions asked regarding FBAR requirements.
These Q&A’s help to explain the What, Who and the Where of FBAR.
Should you have other questions regarding FBAR call us today for a no cost professional; tax consultation. 1-866-700-1040.
You will speak directly to Tax Attorneys, Tax Lawyers, CPA’s and Former IRS agents with over 206 years of professional tax experience and over 60 years of direct experience with the IRS.
1. Who Must File an FBAR form?
Some United States persons are required to file an FBAR if:
1. The United States person had a financial interest in or signature authority over at least one financial account located outside of the United States;
and
2. The aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year to be reported.
United States person means:
United States citizens; United States residents; entities, including but not limited to, corporations, partnerships, or limited liability companies created or organized in the United States or under the laws of the United States; and trusts or estates formed under the laws of the United States. Definition per IRS Tax Law.
2. What are the exceptions to the Reporting Requirement of FBAR
There are filing exceptions for the following United States persons or foreign financial accounts:
1. Certain foreign financial accounts jointly owned by spouses;
2. United States persons included in a consolidated FBAR;
3. Correspondent/Nostro accounts;
4. Foreign financial accounts owned by a governmental entity;
5. Foreign financial accounts owned by an international financial institution;
6. IRA owners and beneficiaries;
7. Participants in and beneficiaries of tax-qualified retirement plans;
8. Certain individuals with signature authority over but no financial interest in a foreign accounts
10.Trust beneficiaries; and
11.Foreign financial accounts maintained on a United States military banking facility.
You should call our firm for a comprehensive list of questions we will review with you.
Reporting and Filing Information for FBAR
A person who holds a foreign financial account may have a reporting obligation even though the account produces no taxable income.
The FBAR is not filed with the filer’s federal income tax return.
The granting, by the Internal Revenue Service, of an extension to file federal income tax returns does not extend the due date for filing an FBAR. You may not request an extension for filing the FBAR.
The FBAR is an annual report and must be received by the Department of the Treasury in Detroit, MI, at one of the two addresses below, on or before June 30th of the year following the calendar year being reported.
File by mailing the FBAR to:
United States Department of the Treasury
P.O. Box 32621
Detroit, MI 48232-0621
If an express delivery service is required for a timely filed FBAR, address the parcel to:
IRS Enterprise Computing Center
ATTN: CTR Operations Mail room, 4th Floor
985 Michigan Avenue
Detroit, MI 48226
FBAR – What, Who and Where – IRS Tax Experts – Free Advice – Attorneys, Former IRS
by Fresh Start Tax | Jul 6, 2012 | Back Taxes, Expatriate Tax, Income Tax Preparation, Representation, Tax Lawyer, Tax Settlements
Expatriate Filing Back Taxes – IRS Tax Experts – Attorneys, CPA, Former IRS –
Do you need to file back, unfiled, delinquent, past due or late tax returns?
Call us today for a no cost professional tax consult and speak directly to a Former IRS agent, Tax Attorney or CPA. You will speak directly to a tax expert.
At most firms you speak directly to sales persons who size you up for a fee, with Fresh Start Tax L.L.C. you will be speaking directly to a tax professional who will answer your questions and prepare your tax returns if necessary.
Call us today to find out if you need to file a tax return. We call review your tax situation for free to see if you need to be concerned.
WE WILL GO OVER THE FOLLOWING QUESTIONS WITH YOU.
1.Who needs to file?
2.Do I need to file a State Return?
3.How do I report foreign bank accounts (FBAR)?
4.What is the story with Form 8938 (Statement of Foreign Financial Assets)?
5.What is the Foreign Earned Income Exclusion?
6. What is the Foreign Tax Credit?
7.What is the Foreign Housing Allowance?
8.How do I qualify as an expat?
9.Does being self-employed change tax obligations?
10.What about expat taxes for non-residents?
The expatriation tax provisions under Internal Revenue Code (IRC) sections 877 and 877A apply to US citizens who have renounced their citizenship and long-term residents (as defined in IRC 877(e)) who have ended their US resident status for federal tax purposes. Different rules apply according to the date upon which you expatriated.
by Fresh Start Tax | Jul 5, 2012 | FBAR, Representation, Tax Help, Tax Lawyer, Tax Returns
The FBAR Filing Requirements.
There is much information buzzing around about FBAR. Most taxpayers are completely uninformed regarding FBAR tax issues and filing requirements.
With the IRS now having over $500 Million in new resource money as a result of the Health Care plan, taxpayers need to become aware of FBAR because the IRS will turn a lot of their time and attention to FBAR and the tax issues related to this program because of the huge revenue FBAR has raised.
To date, FBAR has brought in some $4.4 billion large ones with 33,000 filing over the past three years.
As Former IRS Agents, Tax Attorneys, Lawyers and CPA’s we are FBAR and Expatriate tax experts.
We offer a no cost professional tax consultation for FBAR filing consultations.
We can answer all your questions.
Here are some common questions asked of the FBAR filings.
1. What is an FBAR?
An FBAR is a Report of Foreign Bank and Financial Accounts. The form number is TD F 90-22.1
2. Who must file an FBAR?
Any United States person who has a financial interest in or signature authority or other authority over any financial account in a foreign country, if the aggregate value of these accounts exceeds $10,000 at any time during the calendar year.
3. What is a foreign country?
A “foreign country” includes all geographical areas outside the United States, the commonwealth of Puerto Rico, the commonwealth of the Northern Mariana Islands, and the territories and possessions of the United States (including Guam, American Samoa, and the United States Virgin Islands).
4. What is a United States person?
“United States person” includes a citizen or resident of the United States, a domestic partnership, a domestic corporation, and a domestic estate or trust. See Announcement 2010-16.
5. Is a single-member LLC, which is a disregarded entity for U.S. tax purposes, a United States person for FBAR purposes?
Yes, the tax rules concerning disregarded entities do not apply with respect to the FBAR reporting requirement. FBARs are required under Title 31, not under any provisions of the Internal Revenue Code.
6. What constitutes signature or other authority over an account?
A person has signature authority over an account if such person can control the disposition of money or other property in it by delivery of a document containing his or her signature (or his or her signature and that of one or more other persons) to the bank or other person with whom the account is maintained.
Other authority exists in a person who can exercise power that is comparable to signature authority over an account by direct communication to the bank or other person with whom the account is maintained, either orally or by some other means.
FBAR Filing Requirement – IRS Tax Representation – Free Advice – FBAR Tax Experts, Attorneys, Former IRS –
