by Fresh Start Tax | Oct 3, 2019 | Tax Help
Michael Sullivan Fresh Start Tax Expert, seen of Fox Business New and ABC the Briefing Room, on all IRS Tax Problems.
We are affordable former IRS agents who specialize in the settling of IRS tax debts and the filing of back on file tax returns. Since 1982. A plus rated, BBB. Local IRS Tax Firm.
We have over 200 years of professional tax experience in over 100 years of working directly for the Internal Revenue Service in the local, district and regional tax offices of the Internal Revenue Service.
As former IRS agents, we worked also as managers, supervisors, appellate agents, and teaching instructors. There’s not many firms that have more direct IRS combined experience that are firm.
You can call us today for a free initial tax consultation and we will give you a specific actions and exit an strategy to rid yourself of the IRS problem completely.
Dealing with IRS and Settling ALL IRS Tax Debt
IRS generally deals with tax debt by asking for a documented financial statement to make a determination on how IRS will settle your case off the IRS collection computer.
Once IRS reviews your documented financial statement there are five different closing methods IRS will use to settle your case.
1.Tax Hardships.
When IRS determines after reviewing your financial statement you do not have the ability to pay the tax based on their standards, IRS can put you into a currently not collectible status. While this status penalties and interest will run an IRS will resurface the case in one to three years.
Over 40% of taxpayers who have outstanding debt have their cases put in this hardship or currently not collectible status.
2. Payment plan or installment agreement.
After review of your current financial statement, IRS can give you a monthly payment plan and there are variety of payment plans that you can go and seek. The IRS has an online payment agreement based on dollar amounts but is best to calls for free analysis to make sure you qualify for the one that fits your financial needs at this time.
Over 6.5 million taxpayers have their cases placed in installment agreements every year.
3. The offer in compromise to settle your tax debt.
Over 78,000 offers are filed every year and approximately 32,000 are accepted by the Internal Revenue Service for an average settlement of $7000.
The offer in compromise is a very specific settlement it is best to seek the advice of a true tax professional to get you the lowest settlement possible.
As a former IRS agent we worked the offer in compromise program and we are extremely familiar with the settlements and how they work. We can absolutely assure you we can settle your case for the lowest dollar possible for your current tax that.
4.Bankruptcy.
There are variety of bankruptcy options to resolve your tax debt. When you call us today we will review with you the different options and see if they applied your case. To file a Chapter 7 taxes need to be three years or older, filed for two years and assessed for 270 days. Other rules apply but these are the general rules.
5. Statute of limitation expiration.
There is a 10 year statute of the limitation on IRS collection cases. The statute runs when IRS takes your tax return and puts it on their IRS collection computer. Various things extend the statute of limitation. When we review your case we will go over the case file with you to determine where the statute is on your given tax years.
Filing Tax Returns or Unfiled Back Years
Over 16 million taxpayers do not file annual tax returns.
If you have not filed for many many years there is an IRS policy statement 5-1-133 that says you only have to file the last six years.
You should know that IRS keeps income transcripts for the last six years.
We have the ability through back end portal to pull transcripts to find out what has been filed what has not been filed AND the pull your wage and income reports without alerting the IRS.
If you do not have tax records to file your tax returns, we can prepare your return under reconstructive methods and not only get your tax return filed but settle your case at the same time.
We are experts in the reconstructed process because some of the members of our team are former IRS agents who not only worked but taught this reconstructive methods to new IRS agents.
Call us today for a free initial tax consultation and we will give you the very best settlement possible with IRS.
We can file your returns and settle your debt all at the same time.We are a local tax firm, come by and visit our offices.
Experts, IRS Debt Settlements & Unfiled BackTax Returns + AFFORDABLE + Former IRS Agents + Tampa, Orlando, St. Petersburg + IRS Tax Problem Debt Relief
by Fresh Start Tax | Oct 3, 2019 | Tax Help
Michael Sullivan Fresh Start Tax Expert, seen of Fox Business New and ABC the Briefing Room, on IRS matters.
We are affordable former IRS agents who specialize in the settling of IRS tax debts and the filing of back on file tax returns. Since 1982. A plus rated, BBB. Local IRS Tax Firm.
We have over 200 years of professional tax experience in over 100 years of working directly for the Internal Revenue Service in the local, district and regional tax offices of the Internal Revenue Service.
As former IRS agents, we worked also as managers, supervisors, appellate agents, and teaching instructors. There’s not many firms that have more direct IRS combined experience that are firm.
You can call us today for a free initial tax consultation and we will give you a specific actions and exit an strategy to rid yourself of the IRS problem completely.
Dealing with IRS and Settling IRS Tax Debt
IRS generally deals with tax debt by asking for a documented financial statement to make a determination on how IRS will settle your case off the IRS collection computer.
Once IRS reviews your documented financial statement there are five different closing methods IRS will use to settle your case.
1.Tax Hardships.
When IRS determines after reviewing your financial statement you do not have the ability to pay the tax based on their standards, IRS can put you into a currently not collectible status. While this status penalties and interest will run an IRS will resurface the case in one to three years.
Over 40% of taxpayers who have outstanding debt have their cases put in this hardship or currently not collectible status.
2. Payment plan or installment agreement.
After review of your current financial statement, IRS can give you a monthly payment plan and there are variety of payment plans that you can go and seek. The IRS has an online payment agreement based on dollar amounts but is best to calls for free analysis to make sure you qualify for the one that fits your financial needs at this time.
Over 6.5 million taxpayers have their cases placed in installment agreements every year.
3. The offer in compromise to settle your tax debt.
Over 78,000 offers are filed every year and approximately 32,000 are accepted by the Internal Revenue Service for an average settlement of $7000.
The offer in compromise is a very specific settlement it is best to seek the advice of a true tax professional to get you the lowest settlement possible.
As a former IRS agent we worked the offer in compromise program and we are extremely familiar with the settlements and how they work. We can absolutely assure you we can settle your case for the lowest dollar possible for your current tax that.
4.Bankruptcy.
There are variety of bankruptcy options to resolve your tax debt. When you call us today we will review with you the different options and see if they applied your case. To file a Chapter 7 taxes need to be three years or older, filed for two years and assessed for 270 days. Other rules apply but these are the general rules.
5. Statute of limitation expiration.
There is a 10 year statute of the limitation on IRS collection cases. The statute runs when IRS takes your tax return and puts it on their IRS collection computer. Various things extend the statute of limitation. When we review your case we will go over the case file with you to determine where the statute is on your given tax years.
Filing Tax Returns or Unfiled Back Years
Over 16 million taxpayers do not file annual tax returns.
If you have not filed for many many years there is an IRS policy statement 5-1-133 that says you only have to file the last six years.
You should know that IRS keeps income transcripts for the last six years.
We have the ability through back end portal to pull transcripts to find out what has been filed what has not been filed AND the pull your wage and income reports without alerting the IRS.
If you do not have tax records to file your tax returns, we can prepare your return under reconstructive methods and not only get your tax return filed but settle your case at the same time.
We are experts in the reconstructed process because some of the members of our team are former IRS agents who not only worked but taught this reconstructive methods to new IRS agents.
Call us today for a free initial tax consultation and we will give you the very best settlement possible with IRS.
We can file your returns and settle your debt all at the same time.We are a local tax firm, come by and visit our offices.
Experts, Settling IRS Tax Debts & Unfiled Tax Returns, Affordable Specialists + Former IRS Agents + Tampa, Orlando, St. Petersburg + IRS Tax Problem Debt Relief
by Fresh Start Tax | Oct 1, 2019 | Tax Help
THE USE OF SCHEDULE K-1 DATA TO ADDRESS TAXPAYER NONCOMPLIANCE CAN BE IMPROVED
Final Report issued on September 27, 2019
Highlights of Reference Number: 2019-30-078 to the Commissioner of Internal Revenue.
IMPACT ON TAXPAYERS
The IRS conducts a Tax Gap study periodically to determine the nature and extent of taxpayer noncompliance to assist in formulating tax administration strategies.
The last study, completed in April 2016, estimated the amount of tax liability not paid voluntarily and timely was $458 billion annually for Tax Years 2008 through 2010.
The nonfiling portion of the Tax Gap is estimated to be $32 billion annually, while the underreporting portion is $387 billion annually, and the underpayment portion is $39 billion annually.
The Tax Gap study also found that noncompliance varies with the amount of information reporting by third parties (e.g., employers, banks, partnerships).
Items subject to substantial information reporting and withholding (e.g., wages) have a misreporting rate of 1 percent for the individual income tax, while the misreporting rate for items subject to lesser degrees of information reporting are considerably higher.
WHY TIGTA DID THE AUDIT
This audit was initiated to determine whether the IRS uses Schedule K-1 data effectively to identify taxpayers not submitting tax returns or taxpayers underreporting tax while also minimizing unnecessary notices to taxpayers.
Schedules K-1 are used by flow‑through entities to report recipients’ allocated share of income, deductions, credits, and other amounts.
Unlike other information returns, Schedules K-1 are not submitted directly to the IRS, but are attachments to flow‑through returns submitted on paper or by electronic filing. ******************2********************** Schedules K-1 will limit the IRS’s ability to identify potential noncompliance, resulting in the loss of tax revenue and inequitable treatment of taxpayers as well as potentially creating unnecessary work and increasing taxpayer burden.
WHAT TIGTA FOUND
TIGTA found that improvements are needed with the IRS’s process design and collection of Schedule K-1 data to strengthen efforts to address the noncompliance of nonfilers and underreporters.
Specifically, TIGTA found that the IRS: 1) annually accepts flow-through returns with approximately 3 million *******************2****************** Schedules K‑1;
2) did not identify approximately 4,000 nonfilers who received $25,000 or more of Schedule K-1 income; and 3) could improve identification of underreporter noncompliance.
WHAT TIGTA RECOMMENDED
TIGTA made 11 recommendations to the Commissioner, Small Business/Self-Employed Division, and the Commissioner, Wage and Investment Division, to improve the IRS’s processes for collecting and using Schedule K-1 data.
The IRS agreed with 10 of 11 recommendations. Management stated that its disagreement with the recommendation to enhance the information return verification process to consider the date of death was due to its minimal benefit and significant programming changes.
TIGTA contends that implementation of this recommendation would improve the IRS’s ability to check tax compliance by better identifying the actual recipients of Schedules K‑1.
by Fresh Start Tax | Oct 1, 2019 | Tax Help
We are affordable former IRS agents who specialize in the settling of IRS tax debts and the filing of back on file tax returns. Since 1982. A plus rated, BBB. Local IRS Tax Firm.
We have over 200 years of professional tax experience in over 100 years of working directly for the Internal Revenue Service in the local, district and regional tax offices of the Internal Revenue Service. We worked of the local South Florida IRS offices.
As former IRS agents, we worked also as managers, supervisors, appellate agents, and teaching instructors. There’s not many firms that have more direct IRS combined experience that are firm.
You can call us today for a free initial tax consultation and we will give you a specific actions and exit an strategy to rid yourself of the IRS problem completely.
What is the Tax Gap ?
The last study, completed in April 2016, estimated the amount of tax liability not paid voluntarily and timely was $458 billion annually for Tax Years 2008 through 2010.
The nonfiling portion of the Tax Gap is estimated to be $32 billion annually, while the underreporting portion is $387 billion annually, and the underpayment portion is $39 billion annually.
Bottom Line, IRS wants you back in the system and will settle if possible.
Dealing with IRS and Settling IRS Back Tax Debt
IRS generally deals with tax debt by asking for a documented financial statement to make a determination on how IRS will settle your case off the IRS collection computer.
Once IRS reviews your documented financial statement there are five different closing methods IRS will use to settle your case.
1.Tax Hardships.
When IRS determines after reviewing your financial statement you do not have the ability to pay the tax based on their standards, IRS can put you into a currently not collectible status. While this status penalties and interest will run an IRS will resurface the case in one to three years.
Over 40% of taxpayers who have outstanding debt have their cases put in this hardship or currently not collectible status.
2. Payment plan or installment agreement.
After review of your current financial statement, IRS can give you a monthly payment plan and there are variety of payment plans that you can go and seek. The IRS has an online payment agreement based on dollar amounts but is best to calls for free analysis to make sure you qualify for the one that fits your financial needs at this time.
Over 6.5 million taxpayers have their cases placed in nstallment agreements every year.
3. The offer in compromise to settle your tax debt.
Over 78,000 offers are filed every year and approximately 32,000 are accepted by the Internal Revenue Service for an average settlement of $7000.
The offer in compromise is a very specific settlement it is best to seek the advice of a true tax professional to get you the lowest settlement possible.
As a former IRS agent we worked the offer in compromise program and we are extremely familiar with the settlements and how they work. We can absolutely assure you we can settle your case for the lowest dollar possible for your current tax that.
4.Bankruptcy.
There are variety of bankruptcy options to resolve your tax debt. When you call us today we will review with you the different options and see if they applied your case. To file a Chapter 7 taxes need to be three years or older, filed for two years and assessed for 270 days. Other rules apply but these are the general rules.
5. Statute of limitation expiration.
There is a 10 year statute of the limitation on IRS collection cases. The statute runs when IRS takes your tax return and puts it on their IRS collection computer. Various things extend the statute of limitation. When we review your case we will go over the case file with you to determine where the statute is on your given tax years.
Filing Tax Returns or Unfiled Back Years
Over 16 million taxpayers do not file annual tax returns.
If you have not filed for many many years there is an IRS policy statement 5-1-133 that says you only have to file the last six years.
You should know that IRS keeps income transcripts for the last six years. We have the ability through back end portal to pull transcripts to find out what has been filed what has not been filed AND the pull your wage and income reports without alerting the IRS.
If you do not have tax records to file your tax returns, we can prepare your return under reconstructive methods and not only get your tax return filed but settle your case at the same time.
We are experts in the reconstructed process because some of the members of our team are former IRS agents who not only worked but taught this reconstructive methods to new IRS agents.
Call us today for a free initial tax consultation and we will give you the very best settlement possible with IRS.
We can file your returns and settle your debt all at the same time.We are a local tax firm, come by and visit our offices.
Skype us if you need.
Miramar, Pembroke Pines + Settling IRS Back Tax Debts & Unfiled Tax Returns, Affordable Specialists + Former IRS Agents, Since 1982
by Fresh Start Tax | Oct 1, 2019 | Tax Help
We are affordable former IRS agents who specialize in the settling of IRS tax debts and the filing of back on file tax returns. Since 1982. A plus rated, BBB. Local IRS Tax Firm.
We have over 200 years of professional tax experience in over 100 years of working directly for the Internal Revenue Service in the local, district and regional tax offices of the Internal Revenue Service. We worked of the local South Florida IRS offices.
As former IRS agents, we worked also as managers, supervisors, appellate agents, and teaching instructors. There’s not many firms that have more direct IRS combined experience that are firm.
You can call us today for a free initial tax consultation and we will give you a specific actions and exit an strategy to rid yourself of the IRS problem completely.
Dealing with IRS and Settling IRS Tax Debt
IRS generally deals with tax debt by asking for a documented financial statement to make a determination on how IRS will settle your case off the IRS collection computer.
Once IRS reviews your documented financial statement there are five different closing methods IRS will use to settle your case.
1.Tax Hardships.
When IRS determines after reviewing your financial statement you do not have the ability to pay the tax based on their standards, IRS can put you into a currently not collectible status. While this status penalties and interest will run an IRS will resurface the case in one to three years.
Over 40% of taxpayers who have outstanding debt have their cases put in this hardship or currently not collectible status.
2. Payment plan or installment agreement.
After review of your current financial statement, IRS can give you a monthly payment plan and there are variety of payment plans that you can go and seek. The IRS has an online payment agreement based on dollar amounts but is best to calls for free analysis to make sure you qualify for the one that fits your financial needs at this time.
Over 6.5 million taxpayers have their cases placed in nstallment agreements every year.
3. The offer in compromise to settle your tax debt.
Over 78,000 offers are filed every year and approximately 32,000 are accepted by the Internal Revenue Service for an average settlement of $7000.
The offer in compromise is a very specific settlement it is best to seek the advice of a true tax professional to get you the lowest settlement possible.
As a former IRS agent we worked the offer in compromise program and we are extremely familiar with the settlements and how they work. We can absolutely assure you we can settle your case for the lowest dollar possible for your current tax that.
4.Bankruptcy.
There are variety of bankruptcy options to resolve your tax debt. When you call us today we will review with you the different options and see if they applied your case. To file a Chapter 7 taxes need to be three years or older, filed for two years and assessed for 270 days. Other rules apply but these are the general rules.
5. Statute of limitation expiration.
There is a 10 year statute of the limitation on IRS collection cases. The statute runs when IRS takes your tax return and puts it on their IRS collection computer. Various things extend the statute of limitation. When we review your case we will go over the case file with you to determine where the statute is on your given tax years.
Filing Tax Returns or Unfiled Back Years
Over 16 million taxpayers do not file annual tax returns.
If you have not filed for many many years there is an IRS policy statement 5-1-133 that says you only have to file the last six years.
You should know that IRS keeps income transcripts for the last six years. We have the ability through back end portal to pull transcripts to find out what has been filed what has not been filed AND the pull your wage and income reports without alerting the IRS.
If you do not have tax records to file your tax returns, we can prepare your return under reconstructive methods and not only get your tax return filed but settle your case at the same time.
We are experts in the reconstructed process because some of the members of our team are former IRS agents who not only worked but taught this reconstructive methods to new IRS agents.
Call us today for a free initial tax consultation and we will give you the very best settlement possible with IRS.
We can file your returns and settle your debt all at the same time.We are a local tax firm, come by and visit our offices.
Skype us if you need.
Miami, Miami Beach + Settling IRS Tax Debts & Unfiled Tax Returns, Affordable Specialists + Former IRS Agents, Since 1982
by Fresh Start Tax | Oct 1, 2019 | Tax Help
We are affordable former IRS agents who specialize in the settling of IRS tax debts and the filing of back on file tax returns. Since 1982. A plus rated, BBB. Local Tax Firm.
We have over 200 years of professional tax experience in over 100 years of working directly for the Internal Revenue Service in the local, district and regional tax offices of the Internal Revenue Service. We worked of the local South Florida IRS offices.
As former IRS agents, we worked also as managers, supervisors, appellate agents, and teaching instructors. There’s not many firms that have more direct IRS combined experience that are firm.
You can call us today for a free initial tax consultation and we will give you a specific actions and exit an strategy to rid yourself of the IRS problem completely.
Dealing with IRS and Settling IRS Tax Debt
IRS generally deals with tax debt by asking for a documented financial statement to make a determination on how IRS will settle your case off the IRS collection computer.
Once IRS reviews your documented financial statement there are five different closing methods IRS will use to settle your case.
1.Tax hardships.
When IRS determines after reviewing your financial statement you do not have the ability to pay the tax based on their standards, IRS can put you into a currently not collectible status. While this status penalties and interest will run an IRS will resurface the case in one to three years.
Over 40% of taxpayers who have outstanding debt have their cases put in this hardship or currently not collectible status.
2. Payment plan or installment agreement.
After review of your current financial statement, IRS can give you a monthly payment plan and there are variety of payment plans that you can go and seek. The IRS has an online payment agreement based on dollar amounts but is best to calls for free analysis to make sure you qualify for the one that fits your financial needs at this time.
Over 6.5 million taxpayers have their cases placed in nstallment agreements every year.
3. The offer in compromise to settle your tax debt.
Over 78,000 offers are filed every year and approximately 32,000 are accepted by the Internal Revenue Service for an average settlement of $7000.
The offer in compromise is a very specific settlement it is best to seek the advice of a true tax professional to get you the lowest settlement possible.
As a former IRS agent we worked the offer in compromise program and we are extremely familiar with the settlements and how they work. We can absolutely assure you we can settle your case for the lowest dollar possible for your current tax that.
4. Bankruptcy.
There are variety of bankruptcy options to resolve your tax debt. When you call us today we will review with you the different options and see if they applied your case. To file a Chapter 7 taxes need to be three years or older, filed for two years and assessed for 270 days. Other rules apply but these are the general rules.
5. Statute of limitation expiration.
There is a 10 year statute of the limitation on IRS collection cases. The statute runs when IRS takes your tax return and puts it on their IRS collection computer. Various things extend the statute of limitation. When we review your case we will go over the case file with you to determine where the statute is on your given tax years.
Filing Tax Returns or Unfiled Back Years
Over 16 million taxpayers do not file annual tax returns.
If you have not filed for many many years there is an IRS policy statement 5-1-133 that says you only have to file the last six years.
You should know that IRS keeps income transcripts for the last six years. We have the ability through back end portal to pull transcripts to find out what has been filed what has not been filed AND the pull your wage and income reports without alerting the IRS.
If you do not have tax records to file your tax returns, we can prepare your return under reconstructive methods and not only get your tax return filed but settle your case at the same time.
We are experts in the reconstructed process because some of the members of our team are former IRS agents who not only worked but taught this reconstructive methods to new IRS agents.
Call us today for a free initial tax consultation and we will give you the very best settlement possible with IRS. We can file your returns and settle your debt all at the same time.We are a local tax firm, come by and visit our offices.
Ft.Lauderdale + Settling IRS Tax Debts & Unfiled Tax Returns Specialists + Former IRS Agents, Since 1982
