by Fresh Start Tax | Jun 25, 2012 | Abatements, Back Taxes, Expatriate Tax, Income Tax Preparation, Tax Lawyer, Tax Settlements
Ex-Pat Tax Return Filing – Tax Attorneys, CPA’s, Former IRS – IRS Tax Experts
We are comprised of Board Certified Tax Attorney’s, CPA’s and Former IRS Agents and Instructors.
You can have Former IRS Agents and Managers who know the system and the tax procedures get you back in the IRS system worry free.
We have taught Tax Law at the IRS as Former IRS Agents.
We have filed and resolved hundreds of U.S. Expatriates who have not filed their past due or late tax returns for all kinds of reason.
Many taxpayers do not have the proper records and many simply did not know there was even a tax filing requirement.
If you owe back IRS tax because of late filing we can also look to abate the penalties and interest and work out a tax settlement.
We have made this a very simple process. Because of our vast expertise in this Ex – Pat matters we have made this process very affordable and you will never have to contact the IRS. Ex- Pat’s will simply give us a power of attorney and we do the rest.
Because of our awareness of the U.S. Tax Laws you will pay the lowest amount allowed by law. There are special tax benefits such as the:
1. Foreign Tax Exclusions,
2. Foreign Tax Credits.
3. Earned Income Exclusion.
Fresh Start Tax L.L.C. can offer our clients attorney-client privilege in the process which is not available from other many other tax preparers.
We have over 205 years of professional tax experience and over 60 years working for the Internal Revenue Service in the local, district and regional offices of the IRS.
Call us today and speak directly to a tax professional and relief your Ex- Pat worries.
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 13, 2012 | Back Taxes, IRS Tax Debt, IRS Tax Problem, Offer in Compromise, Tax Help, Tax Lawyer, Tax Settlements
Offer in Compromise – Free Review & Consult – Pre Qualify for no cost – Former IRS 1-866-700-1040
Fresh Start Tax L.L.C. is one of the leading and most trusted tax resolutions firms in the country. “A” Plus rated by the BBB staffed with Former IRS employees.
On staff are Board Certified Tax Attorneys, CPA’s and Former IRS agents and managers with over 60 years of direct IRS tax experience. We can settle your tax debt on your back taxes and get you tax relief.
Also on staff are former IRS Agents who taught the Offer in Compromise Program when employed by the IRS.
We will for no cost offer a free tax consult to see if you qualify for an offer in compromise.You will get a no cost professional opinion on your case. Do not be ripped off by other tax firms.
You do not want to file for a offer in compromise or pay a fee to any tax firm unless you know you are pre-qualified.
Offer in Compromise – Free Review & Consult – Pre Qualify for no cost – Former IRS
Call us of SKYPE us today to here the truth about Offers in Compromise.
You will speak directly to a tax professional!
Major Policy change for offers in compromise
The IRS has just had a major policy change in regard to the Offer in Compromise and it will so allow many more taxpayers to completely lower their tax bill with the IRS.
This is a major and sweeping changing one of the most significant the Internal Revenue Service has made in the past 50 years in regard to IRS collection policy.
The new Offer in Compromise program focuses on the financial analysis used to determine which taxpayers qualify for an OIC.
This major announcement also enables some taxpayers to resolve their tax problems in as little as one to two years compared to four or five long years in the past.
In most circumstances, the IRS changes announced will include:
• Revising the calculation for the taxpayer’s future income.
• Allowing taxpayers to repay their student loans.
• Allowing taxpayers to pay state and local delinquent taxes.
• Expanding the Allowable Living Expense allowance category and amount.
When the IRS calculates a taxpayer’s reasonable collection potential, it will now look at only one year of future income for offers paid in five or fewer months, down from four years, and two years of future income for offers paid in six to 24 months, down from five years.
All offers in compromise must be fully paid within 24 months of the date the offer is accepted.
The Form 656-B, Offer in Compromise Booklet, and Form 656, Offer in Compromise, has been revised to reflect the changes.
You can find this forms on our website.
Other changes to the program include narrowed parameters and clarification of when a dissipated asset will be included in the calculation of reasonable collection potential. In addition, equity in income producing assets generally will not be included in the calculation of reasonable collection potential for on-going businesses.
by Fresh Start Tax | Jun 5, 2012 | Offer in Compromise, Tax Lawyer, Tax Returns, Tax Settlements, Uncategorized
I am a former IRS agent and teaching instructor of the offer in compromise. Call us today for a free initial tax consultation and hear the truth about the offer in compromise program. I worked out a South Florida IRS offices for over 10 years.
IRS has just instituted as brand new program called the ” Fresh Start Program or the Fresh Start Initiative to help struggling taxpayers settle their IRS tax debt once and for all.
At Fresh Start Tax LLC we are comprised of Board Certified Tax Attorneys, CPA’s and Former IRS agents and managers who know the offer in compromise/tax debt settlement program inside and out.
We have worked hundreds of offers in compromise and actually taught the Offer in Compromise/tax debt settlement program when we worked at the IRS in the local South Florida Office.
We also have on staff former IRS Agent audit managers and former IRS Appeals agents to review all cases before they are sent to the IRS.
We have over 60 years of IRS work experience out of the South Florida IRS office.
The new program will change the way taxpayers settle their back tax cases. In the past, IRS made it very difficult for the taxpayer to settle their offers in compromise because of tough rigid standards. IRS over reviewed the cases and had a policy to reject first on any possible avenue it could.
The normal IRS agent reviewing cases did everything they could to reject offer in compromise/tax debt settlements because it required to much work to accept.
Now that the new program has been instituted the and policy has changed we believe the agents will follow the directives from management to settle offers in compromise.
No Offer in Compromise should be turned in for the sake of ” lets give it a try.
Offer in Compromise require a lot of skill and work.
At Fresh Start Tac LLC we will review all potential offers in compromise/tax debt settlements for no cost to see if you qualify. If you do we will move forward.
If you have very little in the way and assets and you have very little disposable income you will be a perfect candidate for an offer in compromise.
Fresh Start Tax also can file all back or unfiled taxes and release bank and wage levies.
Call us today for a free tax consult. We are affordable and friendly.
Miami, Ft.Lauderdale, Palm Beaches – Offer in Compromise – Offer Specialists, Former IRS – New Fresh Start Program
by Fresh Start Tax | Jun 4, 2012 | IRS Tax Debt, IRS Tax Problem, Offer in Compromise, Representation, Tax Help, Tax Lawyer, Tax Returns, Tax Settlements, Uncategorized
Settling your IRS tax debt has just been made much easier through the new Fresh Start Program just launched by the Internal Revenue Service.
On May 21, 2012 the Internal Revenue Service announced another expansion of its “Fresh Start” initiative by offering much more flexible terms to its Offer in Compromise (OIC) program that will enable some of the most financially troubled taxpayers/businesses to clear up their IRS tax problems/issues and in many cases more quickly than in the past. This is one of the biggest changes ever by the IRS in regard to IRS tax debt.
The new announcement specifically targets on the financial analysis used to determine which taxpayers qualify for an Offer in Compromise or a tax debt settlement.
This announcement also enables some taxpayers to resolve their tax problems in as little as two years compared to four or five years or in some cases 10 years in the past.
In certain circumstances, the changes announced today include:
1. Revising the calculation for the taxpayer’s future income
.2 Allowing taxpayers to repay their student loans.
3. Allowing taxpayers to pay state and local delinquent taxes.
4. Expanding the Allowable Living Expense allowance category and amount.
An OIC ( Offer in Compromise ) is an agreement between a taxpayer and the IRS that settles the taxpayer’s IRS tax debt liabilities for less than the full amount owed. In many cases “pennies on a dollar’. The usually settlement is about $.014.
An OIC is generally not accepted if the IRS believes the liability can be paid in full as a lump sum or a through payment agreement. The IRS looks at the taxpayer’s two major assets:
1. all income including social security, disability income,
2. liquid assets including 401k and all pensions
to make a determination of the taxpayer’s reasonable collection potential.
Offers in Compromise are subject to acceptance on legal requirements and must be approved by 3 layers of IRS management.
The IRS finally recognizes that many taxpayers are still struggling to pay their debts and are underwater on there mortgages so the IRS has been working to put in place “common-sense changes” to the OIC program. This change is long over due.
When the IRS calculates a taxpayer’s reasonable collection potential, the Internal Revenue Service will now look at only one year of future income for offers paid in five or fewer months, down from four years, and two years of future income for offers paid in six to 24 months, down from five years. This is a huge change and will allow the taxpayers to reduce their IRS tax debt as far down as 75%.
Settling your IRS tax debt has really been made much easier starting today.
All offers in compromise must be fully paid within 24 months of the date the offer in compromise is accepted.
The new IRS Form 656-B, Offer in Compromise Booklet, and new IRS Form 656, Offer in Compromise, has been revised to reflect the changes.
Other changes to the program include narrowed parameters and clarification of when a dissipated asset will be included in the calculation of reasonable collection potential. In addition, equity in income producing assets generally will not be included in the calculation of reasonable collection potential for on-going businesses.
It is always best to make sure your offer in compromise or your tax debt settlement qualifies for a tax settlement in the first place.
Call the tax professionals at Fresh Start Tax LLC. We are comprised of Board Certified Tax Attorneys, CPA’s and Former IRS Agents and Managers.
We can also file all past due, late, or back tax returns. We are your firm for immediate and permanent tax relief on back taxes.
by Fresh Start Tax | Jun 4, 2012 | Back Taxes, Income Tax Preparation, IRS Tax Debt, IRS Tax Problem, Tax Returns, Tax Settlements
Unfiled, Back Tax, Past Due Tax Returns – How to file and settle with the IRS – Former IRS Agents can save you money 1-866-700-1040
There are millions of taxpayers with unfiled, past due, and back tax returns. The figures of unfiled, past due or back tax returns are close to 20 million non filers and maybe more.
What is unusual about this number is the fact that many of these taxpayers actually want to get back in the system but are afraid to and do not know how to do that without the ire of the IRS and the fear associated with that.
Our firm, Fresh Start Tax LLC specializes in this process and want to explain the process. It is much easier than you think.
IRS is not always the beast they are made out to be.
The filing of the unfiled, back or past due tax returns.
The first part of the process is getting your tax records together. The majority of those taxpayers in this position of unfiled, past due, late, or back tax returns do not have their information to prepare their tax returns. They have been lost, they have moved and they are poor record keepers.
IRS keeps on file the last seven years worth of income information. A simple request can be made to the Internal Revenue Service to receive income information. That is a starting point and from there most taxpayers can simply reconstruct their expenses.
Most professional preparers can easily aid and assist the clients/taxpayers once they have received the income source information. Building the expenses part is relatively simple.After preparing thousands of tax returns a solid tax professional should have no problem in tax reconstruction.
A Key Point.
Being a former IRS agent it is very important to remember when you are preparing these unfiled, back or past due tax returns that the returns must make sense.
A good standard or bar that I used as a former agent was the fact that 4 things had to match up and make sense;
1. Tax Return
2. A financial statement
3. Bank Statements
4. Cost of living for the area the taxpayer was living.
In a nut shell, the taxpayers living expenses should be reflected in the bank deposits on a financial statement and the total income explain on the Adjust Gross Income on a tax return.
The Settlement with the IRS.
The IRS has a new program they are currently administering called the Fresh Start Initiative or Program.
To settle your tax debt case with the IRS, the Service will look at two primary factors. Income and assets.
IRS will conduct a thorough investigation after a form 433 OIC is filed with the IRS.
I do not recommend anyone file a offer in compromise without professional help. I have worked offers in compromise for over 38 years . It is an art and a professional talent to get an offer accepted.
However for those do it your selfers out there, IRS will want the value of roughly 90% of your assets and and excess income over the national standard. IRS uses a multiplier of either 12 or 24 depending in the settlement structure.
Call us today and learn more about IRS tax debt settlements.
We are compromised of Board Certified Tax Attorneys, CPA’s and Former IRS Agents.
Call us at 1-866-700-1040
Unfiled, Back Tax, Past Due Tax Returns – How to file and settle with the IRS – Former IRS Agents can save you money
