by Fresh Start Tax | Aug 6, 2018 | Tax Help
We are former IRS agents that worked out of the local IRS offices, we have over 100 years of direct IRS work experience.
We are a full-service tax defense firm located in South Florida since 1982. We are the premier South Florida experts when it comes to IRS tax counseling and IRS representation.
Local IRS Tax Services, Consulting, & Representation Team 954-492-0088
As a former IRS agent and teaching instructor I taught the offer in compromise or tax debt settlement program to seasoned and new IRS agents.
FREE CONSULTS <>< We know the complete working system of the IRS.
We worked on a local South Florida IRS offices which includes the Miami, Fort Lauderdale and training offices. We were managers, supervisors, agents, and brought to the regional offices to train new IRS agents, we know the system because we taught the system.
We handle all aspects of representation from a single notice, to dealing with IRS tax debt to the filing of tax returns, resolving IRS audits there is nothing we can handle, we are a full service tax firm that handles all IRS services and are A+ rated by the Better Business Bureau since 1982.
Knowing the internal workings in the system of IRS is huge advantage to settle IRS tax debt. Your current financial statement and documentation is the key to settle for less.
Last year 78,000 taxpayers filed for an IRS tax debt settlement in over 38% of those were accepted for average settlement a $6500 per case.
IRS tax debt forgiveness is centered around the IRS offer in compromise program.
Keep in mind this is the national average and every case depended on its own financial statement and its own set of facts. It is very possible to settle for pennies on the dollar.
There is an IRS pre-qualifier tool that you can walk through to find out if you are a certified in acceptable candidate to get an IRS tax debt settlement. On your free initial tax consultation we will walk you through the process.
We are experienced and professional IRS tax debt settlement company.
Because of our years of experience in working for the Internal Revenue Service we can assure you of the lowest possible tax settlement if you are a suitable candidate for offer in compromise.
We have a combined 100 years of direct work experience at the Internal Revenue Service. We are composed of tax attorneys, CPAs, and former federal and state tax agents.
We are a full service Christian Tax firm.
If you have any back tax issues with the Internal Revenue Service or have not filed back income/business tax returns, we can settle your case all at the same time.
As a former IRS revenue officer I have worked hundreds of cases and can be very instrumentally in the settling of your case.
Why is Fresh Start Tax LLC is a much different firm than other IRS Tax Debt Settlement Companies?
We do our own work in-house, most companies sub their work out to backend offices.
We have over 100 years of direct work experience working in the local, district and regional tax offices of the IRS. We have worked as managers, instructors, and teaching agents.
Some of our staff have put on joint forums with the Internal Revenue Service. We have an excellent working relationship with Uncle Sam.
Need an Offer in Compromise + IRS Tax Debt Settlements
If you want to settle your back taxes, IRS will require a current financial statement along with full documentation.
IRS will require form 433OIC and form 656OIC to be fully documented and complete before the submission of an offer in compromise.
Select a payment option for IRS Debt Settlements, Owe Back Taxes
Your initial payment will vary based on your offer and the payment option you choose:
• Lump Sum Cash:
Submit an initial payment of 20 percent of the total offer amount with your application. Wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.
• Periodic Payment:
Submit your initial payment with your application. Continue to pay the remaining balance in monthly installments while the IRS considers your offer. If accepted, continue to pay monthly until it is paid in full.
If you meet the Low Income Certification guidelines, you do not have to send the application fee or the initial payment and you will not need to make monthly installments during the evaluation of your offer. See your application package for details.
Understand the OIC process to IRS Tax Debt Settlement
While your offer is being evaluated:
• Your non-refundable payments and fees will be applied to the tax liability (you may designate payments to a specific tax year and tax debt);
• A Notice of Federal Tax Lien may be filed;
• Other collection activities are suspended;
• The legal assessment and collection period is extended;
• Make all required payments associated with your offer;
• You are not required to make payments on an existing installment agreement; and
• Your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.
You Must have all tax returns filed. Over 16 million taxpayers do not file annual tax returns.
At some point if you do not file the Internal Revenue Service will catch up with you do not keep your head in the sand.
If you have not filed tax returns we can prepare your returns with little or no records do our reconstructive methods we learned IRS.
If you did not file your back tax returns, IRS can prepare them for you and you will owe more money than you should. IRS as the ability under 6020B to file for you.
If you do not respond to the IRS bills and notices they send out as a result of filing your tax returns IRS will follow-up with tax levies in the filing a federal tax liens.
We can prepare your back or on file tax returns with little or no tax records.
If the IRS has already filed your back tax returns and they are grossly inaccurate, call us today for us to file for an IRS audit reconsideration.
Do not be afraid of filing your tax returns with IRS because at some point in time they will catch up with you.
If you are undergoing an IRS tax on it you can have a former IRS audit manager represent and defend your tax return take the case to appeals or file a tax court petition we do it all.
Call us today for a free initial tax consultation. Speak to true IRS tax experts.
Please visit our office.
When you call our offices you will speak directly to the tax expert.
IRS Tax Consulting & Representation + Owe Back Taxes , File, IRS Audit, Settle Debt + Ft.Lauderdale, Miami, Boca Raton, Palm Beaches
by Fresh Start Tax | Jul 30, 2018 | Tax Help
If you received IRS tax notice letter CP 3219 day, a statutory notice of deficiency call former IRS agents get the best tax problem help available.
We are a full-service tax firm dealing with all IRS
What is the Letter or Notice
IRS received information that is different from what you reported on your tax return.
This usually results in an increase or decrease in your tax.
The notice explains how the amount was calculated and how you can challenge it in U.S Tax Court.
What you must do
• Read the notice carefully. It explains the proposed increase or decrease in your tax. Note: The amounts shown as due on the notice may not match your previous notice because you can’t challenge all items in U.S. Tax Court.
• If you agree with the changes, sign the enclosed Form 5564, Notice of Deficiency – Waiver, and mail to the address shown on the notice.
• If you don’t agree with the changes, you have the right to challenge the proposed changes by filing a petition with the U.S. Tax Court no later than the date shown on the notice. Please note the court can’t consider your case if you file the petition late.
• If you don’t agree with the changes and have additional information for us to consider, mail or fax the information with the Form 5564 to the address or fax number on the notice.
Our review of the new information won’t extend the time you have to file a petition with the U.S. Tax Court.
You may want to call Fresh Start Tax LLC or
• Make sure your other returns don’t have the same mistake.
• Contact us with any unanswered questions you have.
• Keep a copy of the notice for your files.
• Correct the copy of your tax return you kept for your records.
• Order a transcript of your return.
• Learn more about your payment options, if you owe additional taxes.
• Learn more about payment plans and installment agreements if you can’t pay the full amount of taxes you owe.
• Learn more about Offers in Compromise if you can’t pay the full amount of taxes you owe.
Answers to common questions
Why did I receive the notice?
We received information from a third party, such as employers or financial institutions, that doesn’t match the information you reported on your return.
Is the notice a bill?
No. It is a proposal and informs you about the information we’ve received and how it affects your tax. It also provides you the option to agree, provide additional information for consideration if you disagree, or information for filing a petition with the U.S. Tax Court.
Can I get an extension of time to respond?
No. But, if you have information that will resolve the issue, you should contact us as soon as possible. Once we issue the CP3219A notice, we can’t extend the time you have to respond or to file a petition with the U.S. Tax Court. If we don’t hear from you and you don’t file a petition, we’ll assess the proposed changes and we’ll send you a bill.
What do I need to do?
If you agree, sign the Form 5564 and return it to us in the envelope provided.
Do I need to file a petition with the U.S. Tax Court?
No, you may be able to resolve your dispute with the IRS. Mail any additional information you may have with the Form 5564 or provide a signed statement, along with any documentation, explaining which items you disagree with and why.
Send your response as soon as possible since we can’t extend the time you have to respond or file a petition with the U.S. Tax Court.
What if the information is wrong or if I disagree?
If you want us to consider additional information, send it to us, along with a written explanation supporting your position. You can also call us at the phone number on the first page of the notice.
You may want to contact whoever reported the information and ask them to correct it.
You should send your response to us as soon as possible, since we can’t extend the time you have to file a petition with the U.S. Tax Court.
The information is wrong because someone else is using my name and social security number.
What can I do?
You can complete and send to us Form 14039, Identity Theft Affidavit. You also can go to our identity theft information webpage to find out more about what you can do.
I reported the information but I reported it incorrectly.
Can I call you to correct my return?
We can generally accept your information over the phone for incorrectly reported information.
If the information you provide over the phone isn’t enough to resolve all issues with your case, mail or fax a signed statement explaining your disagreement and include any documentation that supports your position.
You should call or send your response as soon as possible since we can’t extend the time you have to file a petition with the U.S. Tax Court.
Do I need to amend my return?
If the information displayed in the “Changes to your tax return” section of the notice is correct, you don’t need to amend your return unless you have additional income, credits, or expenses to report. If you agree with our notice, follow the instructions to sign the Form 5564 and return it to us in the envelope provided.
If you have additional income, credits or expenses to report, you may want to complete and submit a Form 1040-X, Amended U.S. Individual Income Tax Return.
er.
How can I get a copy of my original return?
You can request a return transcript using our Get Transcript page. You can also get one by calling our automated phone application at 800-908-9946 or by completing and sending us a Form 4506-T, Request for Transcript of Tax Return.
If a transcript won’t do, ask for a copy of your return from your tax preparer if you used one. Otherwise, you can get a copy of your return by sending us a Form 4506, Request for Copy of Tax Return. We charge a fee for tax return copies.
How can I find an IRS Taxpayer Assistance Center?
We have centers located throughout the country. Find the center nearest to you.
Why did it take you so long to contact me about this matter?
Our computer systems match the information you report on your tax return with information reported by employers, banks, businesses, and others. This matching takes several months to complete.
The notice says my taxes will increase.
Will I be charged interest on the money I owe?
Yes, interest accrues on the unpaid balance until you pay it in full.
Received IRS Tax Notice, Letter CP3219A, Statutory Notice of Deficiency + Former IRS Agent Tax Problem Help
by Fresh Start Tax | Jul 30, 2018 | Tax Help
Have you received a IRS Notice or letter CP 2000?
As former IRS Agents we know the system to help you though this issue
When a tax return’s information doesn’t match data reported to the Internal Revenue Service by employers, banks and other third parties, the IRS will send a letter to the taxpayer.
The letter is called an IRS Notice CP 2000, and it gives detailed information about issues the IRS identified and provides steps taxpayers should take to resolve those issues.
No need to panic call us today to hear the various options available to you.
This letter isn’t a formal audit notification but a letter to see if the taxpayer agrees or disagrees with the proposed tax changes.
Taxpayers should respond to the CP2000 letter, usually within 30 days from the date printed on the letter.
The IRS provides a phone number on each letter.
IRS telephone assistors can explain the letter and what taxpayers need to do to resolve any discrepancies.
The IRS will send another letter to the taxpayer if the taxpayer doesn’t respond to the initial notice or if the IRS can’t accept the additional information provided.
That follow-up letter is called IRS Notice CP 3219A, Statutory Notice of Deficiency.
This letter gives detailed information about why the IRS proposes a tax change and how the agency determined the change.
The letter tells taxpayers about their right to challenge the decision in Tax Court if they choose to do so.
Even if they decide not to go to Tax Court, the IRS will continue to work with the taxpayer during the statutory notice timeframe to help resolve the issue.
It is very important you respond to these letters is failing to do so will create an automatic tax assessment in which IRS can follow-up with the filing of a federal tax lien, a wage or bank levy garnishment and other actions.
Call us today to hear your different options.
1-866-700-1040
by Fresh Start Tax | Jul 27, 2018 | Tax Help
We are former AFFORDABLE IRS Agents and Managers who know the system. Since 1982, Affordable IRS Tax Experts.
Solve your IRS Tax Problems + Help of Former IRS Agents Solve Now, Affordable
If you need IRS help for back taxes call us today for a free initial tax consultation and here the truth from a firm that has worked thousands of cases.
We worked out of the South Florida IRS offices.
We know all the IRS systems, processes, and methodologies. After speaking to us you will have a clear path to understand how we can help your back tax problem with the Internal Revenue Service.
We are an IRS problems service firm that can help resolve any facet of an IRS or state tax problem. We can end IRS Tax Problems for back Taxes.
We have worked thousands of cases. Since 1982,
We can end back tax problems or delinquent tax problems and get IRS off your back for good.
We know all the IRS systems, settlement theories, and methodologies to end your case fast and Affordable.
We’re true Experts in resolving IRS tax problems.
Our 95 years of direct IRS work experience puts us in a category all by ourself.
Being former IRS agents we are Experts in the settlement , immediate IRS levy releases, IRS payment plans, IRS tax defense for Audits and any back payroll tax debt.
We have over 95 years of direct work experience in the local, district, and regional tax offices of the IRS.
If you have received an IRS levy or wage garnishment within 24 hours of receiving your current financial statement we can get a full release, we can represent you during an IRS tax Audit, if you owe back taxes we can settle your tax debt get you in a hardship or set up a payment plan depending on your current financial statement.
We will explain to you all your examinations and remedies on your initial call.
Call us today and find out all your examinations on how to get immediate and permanent IRS tax relief.
You can speak to a former IRS agent or manager who has worked this system for years. You will not find more experience IRS tax experience for IRS tax problems.
How the Internal Revenue Service will work your case if you owe the IRS tax debt.
IRS will require a documented 433A or 433F, an individual financial statement.
You can find that form directly on our website.
Many times the IRS uses 433F, depending were the cases in the system. Cases worked in the ACS system uses shorter version of the financial statement.
If the case is worked in the local office the revenue officer will use form 433.A
That financial statement will need to be fully documented along with bank statements, copies of checks and monthly expenses.
We will walk you through the process of how the IRS will work your case in the collection action that can possibly taken.
Will also review with you the IRS national standards program on all cases for those who owe back taxes.
Once IRS reviews your current financial statement they will make a determination and generally put you in one of two categories with the option of filing an offer in compromise.
IRS Stats on taxpayers to owe back taxes or delinquent taxes
1.IRS determines on 40% of the cases that taxpayers are put into hardship which means they can’t pay the tax at this time.
Sometimes it is called currently not collectible.
Cases that are issue at currently not collectible or hardship stay in there for a period of 2 to 3 years and come back out to the field at a later time.
2. 6.5 million people enter monthly payment plans and pay a certain amount based on their current documented financial statement.
Other taxpayers file an offer in compromise to settle their case for pennies on the dollar.
The offer in compromise requires a lot of skill and expertise to have accepted by the Internal Revenue Service.
What is an offer in compromise? OIC
It is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less that the full amount owed.
Taxpayers who can fully pay the liabilities through an installment agreement or other means, will not be eligible for a OIC in most cases.
In order to be eligible for a OIC, the taxpayer must have filed all tax returns, made all required estimated tax payments for the current year and made all required federal tax deposits for the current quarter if the taxpayer is a business owner with employees.
In most cases, the IRS will not accept a OIC unless the amount offered by a taxpayer is equal to or greater that the reasonable collection potential (the RCP).
The RCP is how the IRS measures the taxpayer’s ability to pay.
The RCP includes the value that can be realized from the taxpayer’s assets, such as real property, automobiles, bank accounts, and other property.
In addition to property, the RCP also includes anticipated future income less certain amounts allowed for basic living expenses.
The IRS may accept a OIC based on three grounds:
• First, the IRS can accept a compromise if there is doubt as to liability.
A compromise meets this only when there is a genuine dispute as to the existence or amount of the correct tax debt under the law.
• Second, the IRS can accept a compromise if there is doubt that the amount owed is fully collectible.
Doubt as to collectivity exists in any case where the taxpayer’s assets and income are less that the full amount of the tax liability.
• Third, the IRS can accept a compromise based on effective tax administration. An offer may be accepted based on effective tax administration when there is no doubt that the tax is legally owed and that the full amount owed can be collected, but requiring payment in full would either create an economic hardship or would be unfair and inequitable because of exceptional circumstances.
When submitting a OIC based on doubt as to collectivity or based on effective tax administration, taxpayers must use the most current version of:
1. Form 656, Offer in Compromise, and also submit Form 433-A (OIC), Collection Information Statement for Wage Earners and Self-Employed individuals, and/or,
2. Form 433-B (OIC), Collection Information Statement for Businesses. A taxpayer submitting a OIC based on doubt as to liability must file a Form 656-L (PDF), Offer in Compromise (Doubt as to Liability), instead of Form 656 and Form 433-A (OIC) and/or Form 433-B (OIC).
Form 656 and referenced collection information statements are available in the Offer in Compromise Booklet, Form 656-B (PDF).
In general, a taxpayer must submit a $186 application fee with the Form 656.
Do not combine this fee with any other tax payments.
However, there are two exceptions to this requirement:
• First, no application fee is required if the OIC is based on doubt as to liability.
• Second, the fee is not required if the taxpayer is an individual (not a corporation, partnership, or other entity) who qualifies for the low-income exception.
This exception applies if the taxpayer’s total monthly income falls at or below 250 percent of the poverty guidelines published by the department of Health and Human Services. Section 4 of Form 656 contains the Low Income Certification guidelines to assist taxpayers in determining whether they qualify for the low-income exception.
A taxpayer who claims the low-income exception must complete section 4 of Form 656 and check the certification box.
Options: Taxpayers may choose to pay the offer amount in a lump sum or in installment payments.
A “lump sum cash offer” is defined as an offer payable in 5 or fewer installments within 5 or fewer months after the offer is accepted. If a taxpayer submits a lump sum cash offer, the taxpayer must include with the Form 656 a nonrefundable payment equal to 20 percent of the offer amount.
This payment is required in addition to the $186 application fee.
The 20 percent payment is “nonrefundable” meaning it will not be returned to the taxpayer even if the offer is rejected or returned to the taxpayer without acceptance.
Instead, the 20 percent payment will be applied to the taxpayer’s tax liability. The taxpayer has a right to specify the particular tax liability to which the IRS will apply the 20 percent payment.
An offer is called a “periodic payment offer” under the tax law if it is payable in 6 or more monthly installments and within 24 months after the offer is accepted.
When submitting a periodic payment offer, the taxpayer must include the first proposed installment payment along with the Form 656.
This payment is required in addition to the $186 application fee. This amount is nonrefundable, just like the 20 percent payment required for a lump sum cash offer.
Also, while the IRS is evaluating a periodic payment offer, the taxpayer must continue to make the installment payments provided for under the terms of the offer.
These amounts are also nonrefundable.
These amounts are applied to the tax liabilities and the taxpayer has a right to specify the particular tax liabilities to which the periodic payments will be applied.
Upon acceptance of a OIC, the taxpayer may no longer designate offer payments to any specific tax liability covered in the offer agreement.
Ordinarily, the statutory time within which the IRS may engage in collection activities is suspended during the period that the OIC is under consideration, and is further suspended if the OIC is rejected by the IRS and where the taxpayer appeals the rejection to the IRS Office of Appeals within 30 days from the date of the notice of rejection.
If the IRS accepts the taxpayer’s offer, the IRS expects that the taxpayer will have no further delinquencies and will fully comply with the tax laws.
The offer in compromise requires a lot of skill because reviewed by several layers of Internal Revenue Service. I should know, I am former IRS agent and teaching instructors of the offer in compromise.
Call us today for a free initial tax consultation. When you call our office you will speak to true IRS tax Experts.
We are the fast, friendly, and Affordable professional tax firm. In South Florida since 1982.
Solve your IRS Tax Problems + Help of Former IRS Agents + Ft. Lauderdale, Miami, Boca Raton, Hollywood
by Fresh Start Tax | Jul 25, 2018 | Tax Help
We are former AFFORDABLE IRS Agents and Managers who know the system. Since 1982, Affordable IRS Tax Experts.
If you need IRS help for back taxes call us today for a free initial tax consultation and here the truth from a firm that has worked thousands of cases.
We worked out of the South Florida IRS offices.
We know all the IRS systems, processes, and methodologies. After speaking to us you will have a clear path to understand how we can help your back tax problem with the Internal Revenue Service.
We are an IRS problems service firm that can help resolve any facet of an IRS or state tax problem. We can end IRS Tax Problems for back Taxes.
We have worked thousands of cases. Since 1982,
We can end back tax problems or delinquent tax problems and get IRS off your back for good.
We know all the IRS systems, settlement theories, and methodologies to end your case fast and Affordable. We’re true Experts in resolving IRS tax problems.
Our 95 years of direct IRS work experience puts us in a category all by ourself.
Being former IRS agents we are Experts in the settlement , immediate IRS levy releases, IRS payment plans, IRS tax defense for Audits and any back payroll tax debt. We have over 95 years of direct work experience in the local, district, and regional tax offices of the IRS.
If you have received an IRS levy or wage garnishment within 24 hours of receiving your current financial statement we can get a full release, we can represent you during an IRS tax Audit, if you owe back taxes we can settle your tax debt get you in a hardship or set up a payment plan depending on your current financial statement.
We will explain to you all your examinations and remedies on your initial call.
Call us today and find out all your examinations on how to get immediate and permanent IRS tax relief.
You can speak to a former IRS agent or manager who has worked this system for years. You will not find more experience IRS tax experience for IRS tax problems.
How the Internal Revenue Service will work your case if you owe the IRS tax debt.
IRS will require a documented 433A or 433F, an individual financial statement.
You can find that form directly on our website.
Many times the IRS uses 433F, depending were the cases in the system. Cases worked in the ACS system uses shorter version of the financial statement.
If the case is worked in the local office the revenue officer will use form 433.A
That financial statement will need to be fully documented along with bank statements, copies of checks and monthly expenses.
We will walk you through the process of how the IRS will work your case in the collection action that can possibly taken.
Will also review with you the IRS national standards program on all cases for those who owe back taxes.
Once IRS reviews your current financial statement they will make a determination and generally put you in one of two categories with the option of filing an offer in compromise.
IRS Stats on taxpayers to owe back taxes or delinquent taxes
1.IRS determines on 40% of the cases that taxpayers are put into hardship which means they can’t pay the tax at this time.
Sometimes it is called currently not collectible.
Cases that are issue at currently not collectible or hardship stay in there for a period of 2 to 3 years and come back out to the field at a later time.
2. 6.5 million people enter monthly payment plans and pay a certain amount based on their current documented financial statement.
Other taxpayers file an offer in compromise to settle their case for pennies on the dollar.
The offer in compromise requires a lot of skill and expertise to have accepted by the Internal Revenue Service.
What is an offer in compromise? OIC
It is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less that the full amount owed.
Taxpayers who can fully pay the liabilities through an installment agreement or other means, will not be eligible for a OIC in most cases.
In order to be eligible for a OIC, the taxpayer must have filed all tax returns, made all required estimated tax payments for the current year and made all required federal tax deposits for the current quarter if the taxpayer is a business owner with employees.
In most cases, the IRS will not accept a OIC unless the amount offered by a taxpayer is equal to or greater that the reasonable collection potential (the RCP).
The RCP is how the IRS measures the taxpayer’s ability to pay.
The RCP includes the value that can be realized from the taxpayer’s assets, such as real property, automobiles, bank accounts, and other property.
In addition to property, the RCP also includes anticipated future income less certain amounts allowed for basic living expenses.
The IRS may accept a OIC based on three grounds:
• First, the IRS can accept a compromise if there is doubt as to liability. A compromise meets this only when there is a genuine dispute as to the existence or amount of the correct tax debt under the law.
• Second, the IRS can accept a compromise if there is doubt that the amount owed is fully collectible.
Doubt as to collectivity exists in any case where the taxpayer’s assets and income are less that the full amount of the tax liability.
• Third, the IRS can accept a compromise based on effective tax administration. An offer may be accepted based on effective tax administration when there is no doubt that the tax is legally owed and that the full amount owed can be collected, but requiring payment in full would either create an economic hardship or would be unfair and inequitable because of exceptional circumstances.
When submitting a OIC based on doubt as to collectivity or based on effective tax administration, taxpayers must use the most current version of:
1. Form 656, Offer in Compromise, and also submit Form 433-A (OIC), Collection Information Statement for Wage Earners and Self-Employed individuals, and/or,
2. Form 433-B (OIC), Collection Information Statement for Businesses. A taxpayer submitting a OIC based on doubt as to liability must file a Form 656-L (PDF), Offer in Compromise (Doubt as to Liability), instead of Form 656 and Form 433-A (OIC) and/or Form 433-B (OIC).
Form 656 and referenced collection information statements are available in the Offer in Compromise Booklet, Form 656-B (PDF).
In general, a taxpayer must submit a $186 application fee with the Form 656.
Do not combine this fee with any other tax payments.
However, there are two exceptions to this requirement:
• First, no application fee is required if the OIC is based on doubt as to liability.
• Second, the fee is not required if the taxpayer is an individual (not a corporation, partnership, or other entity) who qualifies for the low-income exception.
This exception applies if the taxpayer’s total monthly income falls at or below 250 percent of the poverty guidelines published by the department of Health and Human Services. Section 4 of Form 656 contains the Low Income Certification guidelines to assist taxpayers in determining whether they qualify for the low-income exception.
A taxpayer who claims the low-income exception must complete section 4 of Form 656 and check the certification box.
Options: Taxpayers may choose to pay the offer amount in a lump sum or in installment payments.
A “lump sum cash offer” is defined as an offer payable in 5 or fewer installments within 5 or fewer months after the offer is accepted. If a taxpayer submits a lump sum cash offer, the taxpayer must include with the Form 656 a nonrefundable payment equal to 20 percent of the offer amount.
This payment is required in addition to the $186 application fee.
The 20 percent payment is “nonrefundable” meaning it will not be returned to the taxpayer even if the offer is rejected or returned to the taxpayer without acceptance.
Instead, the 20 percent payment will be applied to the taxpayer’s tax liability. The taxpayer has a right to specify the particular tax liability to which the IRS will apply the 20 percent payment.
An offer is called a “periodic payment offer” under the tax law if it is payable in 6 or more monthly installments and within 24 months after the offer is accepted.
When submitting a periodic payment offer, the taxpayer must include the first proposed installment payment along with the Form 656.
This payment is required in addition to the $186 application fee. This amount is nonrefundable, just like the 20 percent payment required for a lump sum cash offer. Also, while the IRS is evaluating a periodic payment offer, the taxpayer must continue to make the installment payments provided for under the terms of the offer.
These amounts are also nonrefundable.
These amounts are applied to the tax liabilities and the taxpayer has a right to specify the particular tax liabilities to which the periodic payments will be applied.
Upon acceptance of a OIC, the taxpayer may no longer designate offer payments to any specific tax liability covered in the offer agreement.
Ordinarily, the statutory time within which the IRS may engage in collection activities is suspended during the period that the OIC is under consideration, and is further suspended if the OIC is rejected by the IRS and where the taxpayer appeals the rejection to the IRS Office of Appeals within 30 days from the date of the notice of rejection.
If the IRS accepts the taxpayer’s offer, the IRS expects that the taxpayer will have no further delinquencies and will fully comply with the tax laws.
The offer in compromise requires a lot of skill because reviewed by several layers of Internal Revenue Service. I should know, I am former IRS agent and teaching instructors of the offer in compromise.
Call us today for a free initial tax consultation. When you call our office you will speak to true IRS tax Experts.
We are the fast, friendly, and Affordable professional tax firm. In South Florida since 1982.
by Fresh Start Tax | Jul 20, 2018 | Tax Help
We are Affordable tax firm that can resolve any IRS tax debt or tax filing problem. Experts in IRS Business and Corporate Tax Debt Defense and Relief.
Since 1982. A plus Rated BBB. We are a local South Florida Firm.
Being former IRS agents and managers give us a very unique advantage to provide the best quality and result given IRS tax defense in the cases of individual, corporate, and business problems with the Internal Revenue Service.
We know all the closing strategies and every avenue to take to get you the very best result.
We have been in the tax resolution industry for a long time and there are many companies that exist today and have no business in this tax resolution vertical.
They charge large fees and give the work to back-end companies parties and the work never gets done.
There are many of e scam artists are around so I would caution everybody to make sure you check out the company, the credentials and ask to speak to the person who will be working your case.
While there are a plethora of many good tax relief companies, check the Better Business Bureau ratings and find out how long the company has existed and find out the complaint history of the company.
Make sure when you are hiring a company for IRS tax debt relief there’s a professional person who has a license to practice before the Internal Revenue Service.
You can call us today for a free initial tax consultation and we can give you a free assessment on your case. You will speak directly to a industry expert.
At Fresh Start Tax LLC, we are true Experts on giving you every possible tax debt option to resolve your back IRS tax debt relief.
You can have back tax assistance by former IRS agents that were teaching instructors with the Internal Revenue Service.
As former IRS agents supervisors and teaching instructors we had great value to any taxpayer trying to sort out the different examinations they have with IRS if you owe back taxes have back tax debt, or have to file back tax returns.
We have over 65 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service.
We are one of the most experienced tax firms in the industry and are available for free initial tax consultation.
What we have to say is very important because we understand every possible methodology and settlement that IRS has. We offer some of the finest IRS tax resolution services to go ahead and fully resolve your IRS tax debt.
IRS Tax Debt Relief + Settlement Options + IRS Tax Debt Relief + Back IRS Taxes Relief For Business and Corporate Taxes
Important : IRS Tax Debt Relief will depend on your current financial statement. The internal revenue system is dependent on the review, the credibility and in-depth analysis of your current assets and income.
Having the knowledge and experience of the system is the first step to finding a permanent resolution to your IRS tax problem.
The first option always is to see if you can settle your tax debt through pennies on the dollar through the offer in compromise program.
Our firm has a distinct advantage over other forms as I am a former IRS teaching agent of the offer in compromise program when employed at Internal Revenue Service.
We will review with you the very specifics of your tax issue or back tax problem and after a careful review of your exit strategy and your financial statement, we can come up with the best strategy to reduce your tax debt, manage the IRS and handle all the representation for Affordable fees and prices.
When IRS takes a current financial statement to make a determination on how they will treat you as a taxpayer there are basically three examinations available for you to take care of your back tax matter:
1. Internal Revenue Service puts 40% of all open cases into currently not collectible status which stay there for approximately a year, or,
2.6.5 million people enter into installment payments based on their current financial statements as IRS carefully looks at your income and necessary living expenses.
3. The last option and the best option is to settle your debt to pennies on the dollar through the offer in compromise program.
Last year 38,000 offers in compromise were accepted for an average settlement of $4000 per case. Please keep in mind this is completely dependent on the current financial statement that IRS reviewed and accepted.
Payment Plan options for Back Taxes Debt Relief
There are many factors that determine payment plan examinations.
The Internal Revenue Service when exploring a payment plan option with the taxpayer will look at the amount due, making sure all tax returns are current and up-to-date and will look on the amount of money the taxpayer wants to pay back depending on statutory periods of time.
When you call our office we will review with you the three different examinations you have available to make a payment plan and get the one you want not, the one forced on you by Internal Revenue Service.
As a former IRS agent, I can tell you that Internal Revenue Service tries to enforce their will and extracting money from taxpayers trying to collect money they do not have.
Knowing all the procedures and the examinations you have available and the rights you have, we can make sure you are treated fairly and that you have the best possible payment agreement you can get based on your current financial statement and living expenses.
When you use our firm, you do not have to fear being bullied by the Internal Revenue Service, we know their systems inside and out.
It is necessary for you to know that all your tax returns need to be filed for IRS to close out your case.
IRS expects each taxpayer who owes back tax debt to be in full compliance before they resolve their tax issue.
If you have returns are not filed we can prepare those with little or no records.
Call us today for a free initial tax consultation assessment and let’s find out how we can get your case closed for Affordable pricing.
We can offer you all different tax solutions possible.
Business, Corporate Tax IRS Defense + Former IRS Agents + Ft.Lauderdale, Miami, Boca Raton, Hollywood
