by steve | Sep 10, 2009 | Tax Help, Uncategorized
Payroll taxes, 941’s are on the IRS hit list.
The IRS works at and gives full attention to payroll tax cases. These are the so-called Trust Fund cases. Since these are monies held by a company ” in trust”, the IRS expects these to be paid over, on time, faithfully. When the IRS finds this is not the case, they come on strong. Most of the time, they will require a financial statement from the owner of the business to prepare to go after the responsible officers individually for the taxes. These are not taxes to fool around with. Never fall behind on them. Borrow money if you must, to pay them when required.
When you get behind call us.
IRS treats these cases under 6672 of the IRC code.
by steve | Sep 10, 2009 | Tax Help, Uncategorized
The Federal Tax Lien is usually filed in the county, city or government locale in which you live.
Since there cannot be a nationwide hunt for liens, the IRS places them in the locale of your homestead so the public has an easy source to find them.
Generally, county or city records are now open in internet searches for such information. A simple click from your home computer can give you a wealth of information.
Keep in mind the IRS can file multiple liens depending on where you have lived, moved.
IRS has a lot of freedom with the filing of their federal tax liens.
Need help with the federal tax lien, call former IRS agents and managers who know the system.
by steve | Sep 10, 2009 | Tax Help, Uncategorized
Believe it or not, from YOU.
The IRS simply looks at your 1040 tax return and finds the information right there.
If you have written a check to the IRS in the last 3 or 4 years they have that as well.
The IRS goes through your tax returns and looks at your employers and the interest and dividend income information that you have given them.
They plug that information into the system and out pops a levy.
So, you the taxpayer give them the levy source information.
Also keep in mind that third-party supply IRS information about wages and 1099 information.
Third parties are required to send IRS information about all income.
So you plus the help of third parties give IRS the information to take money if you owe back taxes.
by steve | Sep 10, 2009 | Tax Help, Uncategorized
As a former agent, there are a couple of acid tests to see if the client or the taxpayer is lying.
Here are just three that I would use today.
First, the IRS pulls up an Accurint report.
It is an online search engine that anyone can use that gives them 10 years worth of information on anybody. In the age of technology, assets are so easy to find.
The IRS will find any information they have to. They are a giant.
The second thing I would do is to make sure financial statements, bank statements and 1040’s all have a common cord through them, this is to say, they make sense when put together.
Does the income on the 1040 match up with the bank statements and the current financial statements?
Lastly, I would check credit cards to see if the purchases match up with everything else.
Here is a bonus way to tell you maybe lying.
IRS will check your credit history and find out if you have given a financial statement to anybody within the last three years, that is any creditor or anyone you are up tempting to borrow money from.
The IRS will compare that financial statement with the financial statement you’ve given other lendors.
Have any questions. call former IRS agents and managers to learn more about the system in the process. Always tell the truth!
There are many techniques used, there are just a few.
by steve | Sep 10, 2009 | Tax Help, Uncategorized
Within 24 hours, if you know what you are doing.
The basic rules of levy release are as follows.
Have all tax returns filed and complete a financial statement ( 433f) with all documentation and send to a IRS agent at the ASC Unit.
The only reason IRS sends out the a tax levy or wage garnishment levy is because taxpayers do not respond to IRS final notices.
IRS needs a closing method for your case.
The current financial statement will determine the closing method on your case.
As a general rule, your case will either be put into a non-collectible file for a couple of years or IRS will ask you for a monthly payment or you could possibly be an offer in compromise candidate.
As former IRS agents we are best suited to help you with all IRS tax matters call us today for a free initial tax consultation.
How Soon Can a IRS Tax Levy Notice or IRS Wage Garnishment be Released, / Removed, Former IRS Agents Tax Help,
by steve | Sep 10, 2009 | Tax Help, Uncategorized
There is only one way to get IRS penalties and interest removed to lower your tax bill.
You must know the system to get IRS tax penalties abated or removed from the IRS.
As former IRS agents we know the system. you can go to our home page and look at abatements of penalties and interest for full detail on how to get IRS penalties removed.
If you have more than $25,000 worth of penalties and interest is best to hire a tax professional if you have under $25,000 in your penalties and interest please note the following:
5.1.15.1 (09-03-2008) From the Internal Revenue Service.
People have asked, where is the requirement found to abate penalties and interest?
It is found in the IRM. Here is the authority and law to do this.
Tax Abatements – Law and Regulations
1. According to the law and regulations, the Service has the authority to abate tax.
2. Law – Internal Revenue Code (IRC) 6404(a) provides (in part):
The Secretary is authorized to abate the unpaid portion of the assessment of any tax or any liability in respect thereof, which–is excessive in amount, or is assessed after the expiration of the period of limitation properly applicable thereto, or is erroneously or illegally assessed.
3. Regulations – Treasury Regulation 301.6404?1 provides (in part):
The district [area] director or the director of the regional service center [servicing campus] may abate any assessment, or unpaid portion thereof, if the assessment is in excess of the correct tax liability, if the assessment is made subsequent to the expiration of the period of limitations applicable thereto, or if the assessment has been erroneously or illegally made.
No claim for abatement may be filed with respect to income, estate, or gift tax.
Except in case of income, estate, or gift tax, if more than the correct amount of tax, interest, additional amount, addition to the tax, or assessable penalty is assessed but not paid to the district [area] director, the person against whom the assessment is made may file a claim for abatement of such overassessment. Each claim for abatement under this section shall be made on Form 843.
The Commissioner may issue uniform instructions to district [area] directors authorizing them, to the extent permitted in such instructions, to abate amounts the collection of which is not warranted because of the administration and collection costs.
Do not let an IRS agent tell you they cannot abate the penalties on cases. They will tell you this because they are lazy and do not want to file the paperwork. Show them you know of this authority.
We are very successful on abating penalties and interest when reasonable cause does exist.
