by Fresh Start Tax | Feb 21, 2018 | Tax Help
We have been around since 1982 and are A plus rated by the BBB. We are among the BEST! We know the system.
We have 205 years of direct tax experience, 100 years of working for the IRS in the local, district and regional offices.
Being former IRS agent managers and supervisors gives us a unique advantage & can change the result of an IRS any IRS case.
We worked as Agents, Instructors and in Management.
We know the system.Its that simple. We taught the system as Former Agents.
FST has an extremely high level of seasoned experience necessary to best win your case and get you the very best result.
Consider this:
We know the tax rules and IRS internal procedures,
We know how to correctly argue the facts and the application to your specific case,
We know how the IRS thinks,
We know IRS all procedures,
We know the limits of IRS judgement, enforcement power and the lints on all cases,
We worked for the IRS Appeals function so know the case structure.
We know the IRS hazard of litigation and how they apply to your caseload and know when and how cases shouldn’t can be settled by IRS,
We were founded by a distinguished, nationally recognized IRS tax expert who has been on both Fox and NBC News.
We are not intimidated by IRS,
The fact is that the IRS may/consultations take advantage of a taxpayer who represents himself, and likewise, if the taxpayer’s advocate is weak.
If the IRS can push and intimidate, they will push and intimidate. We know because we worked for the Internal Revenue Service.
We have a tremendous Better Business Bureau rating especially given the fact we have worked thousands of cases since 1982. We are among one of the highest rated tax defense firms in the country,
We can work any case in all 50 states as well as state tax defense,
We have represented taxpayers and clients in all 50 states and out of the country.
There are many excellent firms in the tax resolution and tax defense business.
We think we are the finest or at least one of the finest firms for IRS tax resolution and tax representation.
Make sure you thoroughly check out any IRS or state tax defense firm before engaging them.
Why Chose Fresh Start Tax + IRS Tax Experts
by Fresh Start Tax | Feb 21, 2018 | Tax Help
Michael Sullivan Fresh Start Tax, IRS Expert.
Mr. Sullivan is an expert in IRS matters. He is available for interviews on IRS matters. He has been on network TV with no affiliation.
His company, freshstarttax.com
Michael D. Sullivan
Former IRS Agent & Teaching Instructor
Michael D. Sullivan is one of the founders of Fresh Start Tax LLC.
He had a distinguished career with the Internal Revenue Service for 10 years.
As a veteran IRS Revenue Officer / Agent, he served as an Offer in Compromise Tax Specialists and Large Dollar Case Specialists. He also collaborated with the U.S. Attorney’s office on undercover operations. Michael received several awards for his work and dedication as a IRS Agent.
During his tenure with the IRS, he was a Certified Tax Instructor who taught out of the Atlanta Regional IRS Training Offices. He also taught out of the local and district offices of the IRS. Mr. Sullivan trained many of the new IRS Agents.
Michael has been in private practice for the last 35 years in the field of Taxpayer Consultation for IRS Audit and Collection tax resolution issues. He often will with corporate and individuals, which involves a wide range of tax issues.
Michael has worked many large complex cases for high net worth individuals and large corporate. Mr. Sullivan is a committed professional with dedicated involvement in the tax profession community as a frequent speaker on the South Florida circuit and also served as an officer and on the Board of the Greater South Florida Tax Council.
Michael has been the program host and moderator for several Internal Revenue Service forums both in the public and professional sectors.
Mr. Sullivan also teaches courses for Attorneys, Lawyers, and CPA’s for continuing education.
For Attorneys and Lawyers, Course number 1708462N to the members who have completed “IRS Tax Resolution”. Florida Bar members can report their CLE credits online at www.floridabar.org.
CPA CE Provider application 1769 and your CPA CE Course application were both approved on 11/28/2017. Your provider number is PVD990 and your course number is CRS22227.
Mr. Sullivan has been a featured speaker in the credit card industry, student loan and the debt settlement vertical as well. He also was one of the featured speakers at the Latino Tax Fest which also featured Nina Olsen, Nation Taxpayer Advocate.
Mr. Sullivan has also appeared on FOX BUSINESS NEWS & NBC.
http://video.foxbusiness.com/v/4147654259001/tips-for-getting-through-to-the-irs/?#sp=show-clips
Michael graduated from St. Thomas University with a B.A. in Pre-Law. He also has attended Knox Theological Seminary.
Mr. Sullivan has obtain a Life Time Achievement Award for Little League Baseball and currently sits on the International Board for the Walk to Emmaus. Michael also is a proud member of the Life Work Leadership program.
Mr. Sullivan was the former District Leader of the United Methodist Church, SE District for the Florida Conference and served on the Board of Lay Ministry.
Michael is very active in the various ministries of his church where he can be found leading and teaching Biblical Studies. He has been the Southeast Florida District Lay Leader of the United Methodist Church and the Florida Annual Conference.
Mr. Sullivan also appeared on Net Grace FM, for the Christian Business Weekly show.
Mr. Sullivan has also received and been awarded “The Diocesan Synod Grand Patroit Diocese Award” in Lagos. Nigeria.
Mr. Sullivan formerly sat on the The Mobil 1 Twelve Hours of Sebring International Raceway Advisory Council (SIRAC).
* Mr. Sullivan has been in private practice since 1982 in South Florida which gave roots to Fresh Start Tax LLC. The firm began as Sullivan & Powell PA and through the years transitioned to its now current form.
by Fresh Start Tax | Feb 21, 2018 | Tax Help
Mr. Sullivan is an expert in IRS matters. He is available for interviews on IRS matters. He has been on network TV with no affiliation.
His company, freshstarttax.com
Michael D. Sullivan
Former IRS Agent
Michael D. Sullivan is one of the founders of Fresh Start Tax LLC. He had a distinguished career with the Internal Revenue Service for 10 years.
As a veteran IRS Revenue Officer / Agent, he served as an Offer in Compromise Tax Specialists and Large Dollar Case Specialists. He also collaborated with the U.S. Attorney’s office on undercover operations. Michael received several awards for his work and dedication as a IRS Agent.
During his tenure with the IRS, he was a Certified Tax Instructor who taught out of the Atlanta Regional IRS Training Offices. He also taught out of the local and district offices of the IRS. Mr. Sullivan trained many of the new IRS Agents.
Michael has been in private practice for the last 35 years in the field of Taxpayer Consultation for IRS Audit and Collection tax resolution issues. He often will with corporate and individuals, which involves a wide range of tax issues.
Michael has worked many large complex cases for high net worth individuals and large corporate. Mr. Sullivan is a committed professional with dedicated involvement in the tax profession community as a frequent speaker on the South Florida circuit and also served as an officer and on the Board of the Greater South Florida Tax Council.
Michael has been the program host and moderator for several Internal Revenue Service forums both in the public and professional sectors.
Mr. Sullivan also teaches courses for Attorneys, Lawyers, and CPA’s for continuing education.
For Attorneys and Lawyers, Course number 1708462N to the members who have completed “IRS Tax Resolution”. Florida Bar members can report their CLE credits online at www.floridabar.org.
CPA CE Provider application 1769 and your CPA CE Course application were both approved on 11/28/2017. Your provider number is PVD990 and your course number is CRS22227.
Mr. Sullivan has been a featured speaker in the credit card industry, student loan and the debt settlement vertical as well. He also was one of the featured speakers at the Latino Tax Fest which also featured Nina Olsen, Nation Taxpayer Advocate.
Mr. Sullivan has also appeared on FOX BUSINESS NEWS & NBC.
http://video.foxbusiness.com/v/4147654259001/tips-for-getting-through-to-the-irs/?#sp=show-clips
Michael graduated from St. Thomas University with a B.A. in Pre-Law. He also has attended Knox Theological Seminary.
Mr. Sullivan has obtain a Life Time Achievement Award for Little League Baseball and currently sits on the International Board for the Walk to Emmaus. Michael also is a proud member of the Life Work Leadership program.
Mr. Sullivan was the former District Leader of the United Methodist Church, SE District for the Florida Conference and served on the Board of Lay Ministry.
Michael is very active in the various ministries of his church where he can be found leading and teaching Biblical Studies. He has been the Southeast Florida District Lay Leader of the United Methodist Church and the Florida Annual Conference.
Mr. Sullivan also appeared on Net Grace FM, for the Christian Business Weekly show.
Mr. Sullivan has also received and been awarded “The Diocesan Synod Grand Patroit Diocese Award” in Lagos. Nigeria.
Mr. Sullivan formerly sat on the The Mobil 1 Twelve Hours of Sebring International Raceway Advisory Council (SIRAC).
* Mr. Sullivan has been in private practice since 1982 in South Florida which gave roots to Fresh Start Tax LLC. The firm began as Sullivan & Powell PA and through the years transitioned to its now current form.
by Fresh Start Tax | Feb 21, 2018 | Tax Help
IRS Tax Audit For Bitcoin + Former IRS Agents, Bitcoin help
As the number and variety of cryptocurrencies on the market continue to grow, so does the scrutiny by government regulators.
The Internal Revenue Service has joined the mix by investigating the ways in which taxpayers report virtual currency transaction .
Congress has gotten in on the action by amending the tax code to close a loophole that allowed cryptocurrency owners to exchange digital currencies without reporting the transaction on their tax returns.
As a result, IRS are coming, beware, stay clean.
For those who are making the decision to invest, what are the questions you should be asking?
Sample examinations for Investors Considering a Cryptocurrency or ICO
Investment
• Who exactly am I contracting with?
◦ Who is issuing and sponsoring the product, what are their backgrounds, and have they provided a full and complete description of the product?
Do they have a clear written business plan that I understand?
◦ Who is promoting or marketing the product, what are their backgrounds, and are they licensed to sell the product?
Have they been paid to promote the product?
◦ Where is the enterprise located?
• Where is my money going and what consultations it be used for? Is my money going to be used to “cash out” other?
• What specific rights come with my investment?
• Are there financial statements? If so, are they Audited, and by whom?
• Is there trading data? If so, is there some way to verify it?
• How, when, and at what cost can I sell my investment? For example, do I have a right to give the token or coin back to the company or to receive a refund?
Can I resell the coin or token, and if so, are there any limitations on my ability to resell?
• If a digital wallet is involved, what happens if I lose the key?
Will I still have access to my investment?
• If a block chain is used, is the block chain open and public?
Has the code been published, and has there been an independent cybersecurity Audit?
• Has the offer ing been structured to comply with the securities laws and, if not, what Implications will that have for the stability of the enterprise and the value of my investment?
• What legal protections may or may not be available in the event of fraud, a hack, malware, or a downturn in business prospects?
Who will be responsible for refunding my investment if something goes wrong?
• If I do have legal rights, can I effectively enforce them and will there be adequate funds to compensate me if my rights are violated?
If IRS is looking to undercover your asset through a tax Audit, call us today.
by Fresh Start Tax | Feb 21, 2018 | Tax Help
Whats new with IRS? Bitcoin Audits???
We’re the Affordable professional tax firm that are specialists and Experts in IRS tax Audits, Bitcoin and Bitcoin appeals.
We have 205 years of direct tax experience, 95 years of working for the IRS in the local, district and regional offices.
Being former IRS agent managers and supervisors in the Audit division gives us a unique advantage & can change the result of an IRS tax Audit.
We worked as Agents, Instructors and in Management. We know the Audit settlement techniques and formulas to save your money.
Be worry free, call us today.
It only makes sense to have Former IRS Agents and IRS Tax Audit Managers handle your IRS tax Audit and give you the most experienced and successful IRS Tax Audit help.
IRS Audits less that 1% of all taxpayers nationwide.
For a Bitcoin tax Audit call us for representation.
by Fresh Start Tax | Feb 21, 2018 | Tax Help
Whats new with IRS? Bitcoin Audits???
We’re the Affordable professional tax firm that are specialists and Experts in IRS tax Audits, Bitcoin and Bitcoin appeals.
We have 205 years of direct tax experience, 95 years of working for the IRS in the local, district and regional offices.
Being former IRS agent managers and supervisors in the Audit division gives us a unique advantage & can change the result of an IRS tax Audit.
We worked as Agents, Instructors and in Management. We know the Audit settlement techniques and formulas to save your money.
Be worry free, call us today.
It only makes sense to have Former IRS Agents and IRS Tax Audit Managers handle your IRS tax Audit and give you the most experienced and successful IRS Tax Audit help.
IRS Audits less that 1% of all taxpayers nationwide.
This is an information piece on the this blog post
For a Bitcoin tax Audit by the IRS, call us for representation.
help information about bitcoin
Q–1: How is virtual currency treated for federal tax purposes?
A–1: For federal tax purposes, virtual currency is treated as property. General tax principles applicable to property transaction apply to transaction using virtual currency.
Q–2: Is virtual currency treated as currency for purposes of determining whether a transaction results in foreign currency gain or loss under U.S. federal tax laws?
A–2: No. Under currently applicable law, virtual currency is not treated as currency that could generate foreign currency gain or loss for U.S. federal tax purposes.
Q–3: Must a taxpayer who receives virtual currency as payment for goods or services include in computing gross income the fair market value of the virtual currency?
A–3: Yes. A taxpayer who receives virtual currency as payment for goods or services must, in computing gross income, include the fair market value of the virtual currency, measured in U.S. dollars, as of the date that the virtual currency was received.
Q–4: What is the basis of virtual currency received as payment for goods or services in Q&A–3?
A–4: The basis of virtual currency that a taxpayer receives as payment for goods or services in Q&A–3 is the fair market value of the virtual currency in U.S. dollars as of the date of receipt. See Publication 551, Basis of Assets, for more information on the computation of basis when property is received for goods or services.
Q–5: How is the fair market value of virtual currency determined?
A–5: For U.S. tax purposes, transaction using virtual currency must be reported in U.S. dollars. Therefore, taxpayers will be required to determine the fair market value of virtual currency in U.S. dollars as of the date of payment or receipt.
If a virtual currency is listed on an exchange and the exchange rate is established by market supply and demand, the fair market value of the virtual currency is determined by converting the virtual currency into U.S. dollars (or into another real currency which in turn can be converted into U.S. dollars) at the exchange rate, in a reasonable manner that is consistently applied.
Q–6: Does a taxpayer have gain or loss upon an exchange of virtual currency for other property?
A–6: Yes. If the fair market value of property received in exchange for virtual currency exceeds the taxpayer’s adjusted basis of the virtual currency, the taxpayer has taxable gain.
The taxpayer has a loss if the fair market value of the property received is less that the adjusted basis of the virtual currency.
Q–7: What type of gain or loss does a taxpayer realize on the sale or exchange of virtual currency?
A–7: The character of the gain or loss generally depends on whether the virtual currency is a capital asset in the hands of the taxpayer.
A taxpayer generally realizes capital gain or loss on the sale or exchange of virtual currency that is a capital asset in the hands of the taxpayer. For example, stocks, bonds, and other investment property are generally capital assets.
A taxpayer generally realizes ordinary gain or loss on the sale or exchange of virtual currency that is not a capital asset in the hands of the taxpayer. Inventory and other property held mainly for sale to cus timers in a trade or business are examples of property that is not a capital asset.
Q–8: Does a taxpayer who “mines” virtual currency (for example, uses computer resources to validate Bitcoin transaction and maintain the public Bitcoin transaction ledger) realize gross income upon receipt of the virtual currency resulting from those activities?
A–8: Yes, when a taxpayer successfully “mines” virtual currency, the fair market value of the virtual currency as of the date of receipt is includable in gross income.
See Publication 525, Taxable and Nontaxable Income, for more information on taxable income.
Q–9: Is an individual who “mines” virtual currency as a trade or business subject to self-employment tax on the income derived from those activities?
A–9: If a taxpayer’s “mining” of virtual currency constitutes a trade or business, and the “mining” activity is not undertaken by the taxpayer as an employee, the net earnings from self-employment (generally, gross income derived from carrying on a trade or business less allowable deductions) resulting from those activities constitute self-employment income and are subject to the self-employment tax.
Q–10: Does virtual currency received by an independent contractor for performing services constitute self-employment income?
A–10: Yes. Generally, self-employment income includes all gross income derived by an individual from any trade or business carried on by the individual as other that an employee. Consequently, the fair market value of virtual currency received for services performed as an independent contractor, measured in U.S. dollars as of the date of receipt, constitutes self-employment income and is subject to the self-employment tax.
Q–11: Does virtual currency paid by an employer as remuneration for services constitute wages for employment tax purposes?
A–11: Yes. Generally, the medium in which remuneration for services is paid is immaterial to the determination of whether the remuneration constitutes wages for employment tax purposes. Consequently, the fair market value of virtual currency paid as wages is subject to federal income tax withholding, Federal Insurance Contributions Act (FICA) tax, and Federal Unemployment Tax Act (FUTA) tax and must be reported on Form W–2, Wage and Tax Statement.
Q–12: Is a payment made using virtual currency subject to information reporting?
A–12: A payment made using virtual currency is subject to information reporting to the same extent as any other payment made in property.
For example, a person who in the course of a trade or business makes a payment of fixed and determinable income using virtual currency with a value of $600 or more to a U.S. non-exempt recipient in a taxable year is required to report the payment to the IRS and to the payee. miums, annuities, and compensation.
Q–13: Is a person who in the course of a trade or business makes a payment using virtual currency worth $600 or more to an independent contractor for performing services required to file an information return with the IRS?
A–13: Generally, a person who in the course of a trade or business makes a payment of $600 or more in a taxable year to an independent contractor for the performance of services is required to report that payment to the IRS and to the payee on Form 1099–MISC, Miscellaneous Income.
Payments of virtual currency required to be reported on Form 1099-MISC should be reported using the fair market value of the virtual currency in U.S. dollars as of the date of payment.
The payment recipient may have income even if the recipient does not receive a Form 1099–MISC. See the Instructions to Form 1099–MISC and the General Instructions for Certain Information Returns for more information.
Q–14: Are payments made using virtual currency subject to backup withholding?
A–14: Payments made using virtual currency are subject to backup withholding to the same extent as other payments made in property.
Therefore, payor’s making reportable payments using virtual currency must solicit a taxpayer identification number (TIN) from the payee.
The payor must backup withhold from the payment if a TIN is not obtain prior to payment or if the payor receives notification from the IRS that backup withholding is required. See Publication 1281, Backup Withholding for Missing and Incorrect Name/TINs, for more information.
Q–15: Are there IRS information reporting requirements for a person who settles payments made in virtual currency on behalf of merchants that accept virtual currency from their cus timers?
A–15: Yes, if certain requirements are met. In general, a third party that contracts with a substantial number of unrelated merchants to settle payments between the merchants and their cus timers is a third party settlement organization (TPSO).
A TPSO is required to report payments made to a merchant on a Form 1099-K, Payment Card and Third Party Network transaction , if, for the calendar year, both
(1) the number of transaction settled for the merchant exceeds 200, and
(2) the gross amount of payments made to the merchant exceeds $20,000. When completing Boxes 1, 3, and 5a–1 on the Form 1099-K, transaction where the TPSO settles payments made with virtual currency are aggregated with transaction where the TPSO settles payments made with real currency to determine the total amounts to be reported in those boxes.
When determining whether the transaction are reportable, the value of the virtual currency is the fair market value of the virtual currency in U.S. dollars on the date of payment.
Q–16: Will taxpayers be subject to penalties for having treated a virtual currency transaction in a manner that is inconsistent with this notice prior to March 25, 2014?
A–16: Taxpayers may be subject to penalties for failure to comply with tax laws. For example, underpayments attributable to virtual currency transaction may be subject to penalties, such as accuracy-related penalties under section 6662.
In addition, failure to timely or correctly report virtual currency transaction when required to do so may be subject to information reporting penalties under section 6721 and 6722.
However, penalty relief may be available to taxpayers and persons required to file an information return who are able to establish that the underpayment or failure to properly file information returns is due to reasonable cause.
