by Fresh Start Tax | Jul 21, 2016 | Tax Help
As Former IRS Agents and Managers we know the exact process to remove federal tax lien. since 1982 we have been resolving tax debt for hundreds and hundreds of taxpayers nationwide. We are true industry experts. We are the affordable tax firm.
Every case has a different set of Circumstances, and once we hear of your situation we can give you various options on how to remove your federal tax lien.
It is mandatory for the Internal Revenue Service the following if you owe over $10,000 in debt.
And as a general rule it will take a full payment or a payment plan to remove the federal tax lien. Call us today to hear more.
The Federal Tax Lien
A federal tax lien is the government’s legal claim against your property when you neglect or fail to pay a tax debt.
The lien protects the government’s interest in all your property, including real estate, personal property and financial assets.
A federal tax lien exists after the IRS:
• Puts your balance due on the books (assesses your liability);
• Sends you a bill that explains how much you owe (Notice and Demand for Payment); and you:
• Neglect or refuse to fully pay the debt in time.
The IRS files a public document, the Notice of Federal Tax Lien, to alert creditors that the government has a legal right to your property.
How to Get Rid of a Lien
Paying your tax debt – in full – is the best way to get rid of a federal tax lien. The IRS releases your lien within 30 days after you have paid your tax debt.
When conditions are in the best interest of both the government and the taxpayer, other options for reducing the impact of a lien exist.
Discharge of property
A “discharge” removes the lien from specific property. There are several Internal Revenue Code (IRC) provisions that determine eligibility.
For more information, refer to Publication 783, Instructions on How to Apply for Certificate of Discharge From Federal Tax Lien (PDF) and the video Selling or Refinancing when there is an IRS Lien.
Subordination
“Subordination” does not remove the lien, but allows other creditors to move ahead of the IRS, which may make it easier to get a loan or mortgage.
To determine eligibility, refer to Publication 784, Instructions on How to Apply for a Certificate of Subordination of Federal Tax Lien (PDF) and the video Selling or Refinancing when there is an IRS Lien.
Withdrawal
A “withdrawal” removes the public Notice of Federal Tax Lien and assures that the IRS is not competing with other creditors for your property; however, you are still liable for the amount due.
For eligibility, refer to Form 12277, Application for the Withdrawal of Filed Form 668(Y), Notice of Federal Tax Lien (Internal Revenue Code Section 6323(j)) (PDF) and the video Lien Notice Withdrawal.
Two additional Withdrawal options resulted from the Commissioner’s 2011 Fresh Start initiative.
One option may allow withdrawal of your Notice of Federal Tax Lien after the lien’s release.
General eligibility includes:
Your tax liability has been satisfied and your lien has been released; and also:
• You are in compliance for the past three years in filing – all individual returns, business returns, and information returns;
• You are current on your estimated tax payments and federal tax deposits, as applicable.
The other option may allow withdrawal of your Notice of Federal Tax Lien if you have entered in or converted your regular installment agreement to a Direct Debit installment agreement.
General eligibility includes:
• You are a qualifying taxpayer (i.e. individuals, businesses with income tax liability only, and out of business entities with any type of tax debt)
• You owe $25,000 or less (If you owe more than $25,000, you may pay down the balance to $25,000 prior to requesting withdrawal of the Notice of Federal Tax Lien)
• Your Direct Debit Installment Agreement must full pay the amount you owe within 60 months or before the Collection Statute expires, whichever is earlier
• You are in full compliance with other filing and payment requirements
• You have made three consecutive direct debit payments
• You can’t have defaulted on your current, or any previous, Direct Debit Installment agreement.
How a Lien Affects You
• Assets — A lien attaches to all of your assets (such as property, securities, vehicles) and to future assets acquired during the duration of the lien.
• Credit — Once the IRS files a Notice of Federal Tax Lien, it may limit your ability to get credit.
• Business — The lien attaches to all business property and to all rights to business property, including accounts receivable.
• Bankruptcy — If you file for bankruptcy, your tax debt, lien, and Notice of Federal Tax Lien may continue after the bankruptcy.
Avoiding a Tax Lien
You can avoid a federal tax lien by simply filing and paying all your taxes in full and on time. If you can’t file or pay on time, don’t ignore the letters or correspondence you get from the IRS. If you can’t pay the full amount you owe, payment options are available to help you settle your tax debt over time.
Lien vs. Levy
A lien is not a levy. A lien secures the government’s interest in your property when you don’t pay your tax debt.
A levy actually takes the property to pay the tax debt. If you don’t pay or make arrangements to settle your tax debt, the IRS can levy, seize and sell any type of real or personal property that you own or have an interest in.
Owe The IRS + Have a Tax Lien + House, Residence + Remove FEDERAL Tax Liens + Options
by Fresh Start Tax | Jul 20, 2016 | Tax Help
A Professional and Experienced Firm + Since 1982 + AFFORDABLE SALES TAX EXPERTS
Fresh Start Tax and it’s principles have handled thousands and thousands of cases over the years, both in government service and in their professional practice.
Our typical client is one that has not filed or not reported matters involving sales taxes and or IRS related issues.
We also have a network of attorneys that work criminal cases as well. We handle cases all through the State of Florida.
Over the past 27 years of private practice alone, we have settled thousands of government cases with successful results.
We have an excellent track record and have the highest score in regards to the Better Business Bureau.
Our professionals are members of various National Organizations, have been keynote speakers on tax issues and are certified by the Florida Department of Professional Regulation to administer and teach other professionals in their continuing educational programs. We are the professionals professional.
Florida Sales Tax Problem Representation
State of Florida sales tax representation includes the following matters with the Florida Department of Revenue:
- Tax audits on any and all sales tax issues and matters
- Non-filing matters
- Criminal investigations that are referred to attorneys that best fit your profile
- Department of Revenue enforcement action or warrant proceedings
- Stipulated time payments
- Requests for settlements or Compromise
Keys to resolving your Florida Sales Tax Problem
There are several keys to make sure your case is resolved timely. These keys are necessary on every case. The Department of Revenue is interested in resolving the cases in their system. The DOR goal is to close cases and get them out of their inventory.
Here are the keys necessary to stop enforcement action on your back taxes.
- Have all your tax returns filed before you call Florida Sales Tax and the Department of Revenue on your back tax issues.
- Be prepared to give the Department of Revenue a financial statement whether you are a hardship candidate, want an installment agreement or want to settle your case.
- Be prepared to give the Department of Revenue all supporting documentation to prove your financial statement.
- Make sure you are current on deposit requirements.
Are you being Audited by Florida DOR
The State of Florida, Department of Revenue audit taxpayers to:
- Enforce Florida tax laws uniformly.
- Promote voluntary compliance.
As a general rule, the State of Florida Sales Division accepts most tax returns as filed, however they audit some returns to verify accuracy and evaluate compliance.
Florida Sales Tax Audits do not always result in the taxpayer owing additional tax, penalty or interest.
The auditor may adjust a credit carryover or correct distribution without assessing additional tax. The auditor may even determine that a refund is due.
How Are Taxpayers Selected for Audit by the Florida Sales Tax Division
The methods for selecting a business or individual to audit vary from tax to tax.
Here are some examples of sources we use to identify a potential audit candidate:
- Internal Revenue Service information.
- Information sharing programs with other states and state agencies.
- Computer-based random selection.
- Analysis of Florida tax return information.
- Business publications, periodicals, journals, and directories.
What Types of Records Will I Need to Provide to a Auditor or Inspector?
When we notify you of our intent to audit, we will also tell you what records you will need to provide.
The types of records may include, but are not limited to:
1. General ledgers and journals
2. Cash receipt and disbursement journals
3. Purchase and sales journals
4. Sales tax exemption or resale certificates
5. Florida tax returns
6. Federal tax returns
7. Depreciation schedules
8. Property records
9. Other documentation to verify amounts entered on tax returns
You must keep your records for three years since an audit can extend back that far. The Department may audit for periods longer than three years if you did not file, or filed a substantially incorrect return or payment.
Your Rights During an Sales Tax Audit?
The Florida Taxpayer’s Bill of Rights provides protection for taxpayers’ privacy and assets during their interactions with Revenue employees.
Your rights include:
- The right to fair treatment.
- The right to get available information and prompt, accurate responses to your questions.
- The right to have the Department begin and complete its audit in a timely manner after we notify you of our intent to audit.
- The right to get simple, nontechnical statements which explain the reason for audit selection and the procedures, remedies, and rights available during audit, appeals, and collection proceedings.
What Happens When the Audit is Complete?
After your audit is complete, you can review the audit findings and proposed changes to your tax liability. The auditor will give you a copy of the work papers and explain your rights, including deadlines for filing protests.
If you agree with the audit findings, we expect you to pay the amount due in full.
You have the right to protest the proposed changes if you disagree with them. “How to Pay Your Audit Assessment” has more details.
How to stop Florida Sales Tax collection enforcement on your back taxes sales tax
- Contact the Department of Revenue on your back tax problem as soon as you become aware of the situation or receive a letter.
- Let a professional tax company contact Florida Sales Tax before they start to take enforcement action and file warrants and or make this a criminal case.
- Utilize the settlement program to reduce your tax debt, if you qualify.
- Contact Fresh Start Tax, we are the true professionals in your area.
We would welcome the opportunity as tax consultants to meet with you on a complimentary basis to discuss how we can help your business save money and increase profits. For a free consultation, please email us or call us today to schedule a meeting.
Just Received Notice from Florida DOR to Sales Tax Audit + Tax Audit Help
by Fresh Start Tax | Jul 20, 2016 | Tax Help
Resolve IRS Problems if you owe Money on Back IRS Taxes, Since 1982.
Over 65 years of direct experience in the local, district and regional tax IRS offices.
We also worked as managers, supervisors and teaching instructors. Not only did we work in the above aforementioned positions, we are also on-the-job trainers for new IRS employees.
We know all the IRS systems inside and out we have worked both sides of any IRS problem and know the protocols and methodologies to resolve any IRS matter.
Type of Settlements on Back IRS Taxes
I am a former IRS agent and teaching instructor of the offer in compromise. After reviewing your current financial statement I will tell you exactly which program you are eligible for. We will review your tax options with you and put you in the program that best fits your current financial status.
If you need to settle your tax debt with Internal Revenue Service, as a general IRS will want to current financial statement to make a determination.You will need to do that on the IRS form 433A or 433F.
As a general rule upon your submission of your current documented financial statement,
How IRS will dispose of your case:
1.currently not collectible file (hardship) or , CNC,
2. ask you for a monthly payment arrangement or installment agreement,
Many taxpayers are eligible for the offer in compromise program to settle their debt for pennies on the dollar.
Last year over 38,000 taxpayers settle their tax debt for an average of $6500 per case. Keep in mind that is just an average national average in your case is completely dependent on your current financial statement.
Before you file for offer in compromise it is wise to fill out the IRS pre-qualifier tool to make sure you were a viable candidate and don’t waste any money.
When you call our office we will be review with you the various options you have to completely and permanently remedy all your IRS tax problems once and for all.
If the IRS has filed a federal tax lien against you, when you call our office we will go over the different ways you may be able to release your federal tax lien.
The lien will stay on your record for 10 years from the date of assessment unless an offer in compromise was accepted or you got into an IRS payment agreement that met the qualifications.
We are a full-service firm that specializes in IRS tax relief. With over 206 years of professional tax experience and over 65 years of combined work experience.
If you need to file tax returns, need an IRS tax settlement, need to work a payment plan, or if your experience a IRS tax hardship or need to get IRS levies and tax liens released call us today.
Call us today for a free initial tax consultation. You will speak to a true IRS tax expert, since 1982.
We are fast, friendly, and affordable professional tax firm. Since 1982.
Owe Money on Back IRS Taxes = IRS Payment Arrangements, Settlement on Back Taxes
by Fresh Start Tax | Jul 20, 2016 | Tax Help
Owe Back Individual Taxes, Since 1982, Affordable Tax Options.
Over 95 years of direct experience in the local, district and regional tax IRS offices.
We also worked as managers, supervisors and teaching instructors. Not only did we work in the above aforementioned positions, we are also on-the-job trainers for new IRS employees.
We know all the IRS systems inside and out we have worked both sides of any IRS problem and know the protocols and methodologies to resolve any IRS matter.
Settlements on Back Taxes
I am a former IRS agent and teaching instructor of the offer in compromise. After reviewing your current financial statement I will tell you exactly which program you are eligible for. We will review your tax options with you and put you in the program that best fits your current financial status.
If you need to settle your tax debt with Internal Revenue Service, as a general IRS will want to current financial statement to make a determination.You will need to do that on the IRS form 433A or 433F.
As a general rule upon your submission of your current documented financial determines the outcome.
IRS will either place you went into:
1.currently not collectible file (hardship) or , CNC,
2. ask you for a monthly payment or installment agreement,
Many taxpayers are eligible for the offer in compromise program to settle their debt for pennies on the dollar.
Last year over 38,000 taxpayers settle their tax debt for an average of $6500 per case. Keep in mind that is just an average national average in your case is completely dependent on your current financial statement.
Before you file for offer in compromise it is wise to fill out the IRS pre-qualifier tool to make sure you were a viable candidate and don’t waste any money.
When you call our office we will be review with you the various options you have to completely and permanently remedy all your IRS tax problems once and for all.
If the IRS has filed a federal tax lien against you, when you call our office we will go over the different ways you may be able to release your federal tax lien.
The lien will stay on your record for 10 years from the date of assessment unless an offer in compromise was accepted or you got into an IRS payment agreement that met the qualifications.
We are a full-service firm that specializes in IRS tax relief. With over 206 years of professional tax experience and over 65 years of combined work experience.
If you need to file tax returns, need an IRS tax settlement, need to work a payment plan, or if your experience a IRS tax hardship or need to get IRS levies and tax liens released call us today.
Call us today for a free initial tax consultation. You will speak to a true IRS tax expert, since 1982.
We are fast, friendly, and affordable professional tax firm. Since 1982.
Owe Individual Taxes + Payment Plans, Settlement on Back Taxes
by Fresh Start Tax | Jul 20, 2016 | Tax Help
Wedding Can Affect Your Taxes
With all the planning and preparation that goes into a wedding, taxes may not be high on your summer wedding checklist. However, you should be aware of the tax issues that come along with marriage.
Here are some basic tips to help with your planning:
• Name change.
The names and Social Security numbers on your tax return must match your Social Security Administration records.
If you change your name, report it to the SSA. To do that, file Form SS-5, Application for a Social Security Card.
You can get the form on SSA.gov, by calling 800-772-1213 or from your local SSA office.
• Change tax withholding.
A change in your marital status means you must give your employer a new Form W-4, Employee’s Withholding Allowance Certificate.
If you and your spouse both work, your combined incomes may move you into a higher tax bracket or you may be affected by the Additional Medicare Tax.
Use the IRS Withholding Calculator tool at IRS.gov to help you complete a new Form W-4. See Publication 505, Tax Withholding and Estimated Tax, for more information.
• Changes in circumstances.
If you or your spouse purchased a Health Insurance Marketplace plan and receive advance payments of the premium tax credit in 2016, it is important that you report changes in circumstances, such as changes in your income or family size, to your Health Insurance Marketplace when they happen.
You should also notify the Marketplace when you move out of the area covered by your current Marketplace plan.
Advance credit payments are paid directly to your insurance company on your behalf to lower the out-of-pocket cost you pay for your health insurance premiums.
Reporting changes now will help you get the proper type and amount of financial assistance so you can avoid getting too much or too little in advance, which may affect your refund or balance due when you file your tax return.
• Address change. Let the IRS know if your address changes.
To do that, send the IRS Form 8822, Change of Address. You should also notify the U.S. Postal Service. You can ask them online at USPS.com to forward your mail.
You may also report the change at your local post office. You should also notify your Health Insurance Marketplace when you move out of the area covered by your current health care plan.
• Tax filing status.
If you’re married as of Dec. 31, that’s your marital status for the whole year for tax purposes. You and your spouse can choose to file your federal income tax return either jointly or separately each year.
You may want to figure the tax both ways to find out which status results in the lowest tax.
• Select the right tax form.
Choosing the right income tax form can help save money. Newly married taxpayers may find that they now have enough deductions to itemize on their tax returns.
You must claim itemized deductions on a Form 1040, not a Form 1040A or Form 1040EZ.
by Fresh Start Tax | Jul 14, 2016 | Tax Help
We are an affordable professional tax firm with over 95 years of direct IRS work experience. Since 1982. A plus rated.
I was a former IRS agent that taught the offer in compromise program.
I know all the formulas necessary to settle and IRS Tax Debt.
As a former agent I used to accept offers in compromise and I understand the exact processes and methodologies. You must make sure you are eligible.
Last year over 78,000 offers in compromise were filed by taxpayers and over 38% of those were accepted for average of $6500 per case.
Keep in mind this is a national average in your case is completely dependent on your individual financial statement.
We will not file for an offer in compromise unless you are a true candidate for the program. There is a pre- qualifier tool. You can find it on our site.
Upon your initial tax consultation we’ll let you know if you are eligible to have an accepted offer in compromise by the Internal Revenue Service.
As a former IRS agent, I was a teaching instructor for the offer in compromise, the IRS tax debt settlement program.
Due to the new fresh start tax initiative Internal Revenue Service had made it easier to file for the program. However this program is not for everybody.
Everyone wants to settle with IRS but there is a very specific format and methodology that must be followed. You can hear the truth about the offer in compromise program when you call us.
There are many myths about the pennies on the dollar program so you need to hear the truth before spending any money.
I know the system inside and out.
As a former IRS agent I used to accept and reject offers in compromise. I have heard countless horror stories from taxpayers who called me about firms that have ripped them off promising settlements.
There is a very specific system and methodology to get an offer in compromise approved for pennies on the dollar.
The question is pennies on the dollar possible to settle tax debt?
At our firm we will take no clients money until we are no they are a true candidate for the settlement program.
There are many myths about the offer in compromise so IRS and in their great wisdom provides a pre-qualifier tool to find out if taxpayers are eligible for the offer in compromise program so taxpayers do not give their hard-earned money to unsuspecting tax firms promising tax settlements.
I would suggest anyone who wants to go ahead and settle their tax debt through the pennies on the dollar, offer in compromise program contact an experienced an honest tax professional, have them walk them through the pre-qualifier tool before they give their money to anybody.
The IRS spends a lot of due diligence before they accept an offer in compromise. It is possible for the IRS to spend over 20 hours working an offer in compromise.
Many people ask why is this process not that simple.
The answer is this, all accepted offers in compromise are a matter of public record for one year in the regional office where the offer was accepted.
The Internal Revenue Service does all that it can to make sure there is a matter of consistency within the offer in compromise program if not still be a tremendous public outcry.
Right now there are over 7500 cases in the offer queue to be worked by local agents.
Keep in mind the current wait time is approximately 9 months.
We are a full-service firm with an expertise in any IRS tax debt matter including offering compromise.
One base rule for the offer in compromise program. IRS is only concerned about your income and assets. this includes your equity in your home, pension plans are IRA’s.
One nice thing about the IRS accepting your offer in compromise is that once you meet the terms of the settlement they will release your federal tax lien.
Below you will find out what you need to know about the offer in compromise program.
TYPEs OF OIC
• Lump Sum Cash Payment:
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.
Understand the process of OIC
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.
Call us today for free initial tax consultation to see if you are a certified an eligible candidate for the offer in compromise program.
We call our office you will speak to a true IRS tax professional. So yes pennies on a dollar is possible, however make sure you’re a qualified candidate.
Since 1982, A plus rated.
Settling IRS Tax Debt + Hear the Truth Now + Former IRS Offer Specialist
