by Fresh Start Tax | Jun 10, 2016 | Tax Help
New IRS Fresh Start Initiative Helps Taxpayers Who Owe Taxes, call us today for a free tax consultation. Since 1982.
The Internal Revenue Service has expanded its “Fresh Start” initiative to help struggling taxpayers who owe taxes.
The following four tips explain the expanded relief for taxpayers.
1. Penalty relief Part of the initiative relieves some unemployed taxpayers from failure-to-pay penalties. Penalties are one of the biggest factors a financially distressed taxpayer faces on a tax bill.
The Fresh Start Penalty Relief Initiative gives eligible taxpayers a six-month extension to fully pay 2011 taxes. Interest still applies on the 2011 taxes from April 17, 2012 until the tax is paid, but you won’t face failure-to-pay penalties if you pay your tax, interest and any other penalties in full by Oct. 15, 2012.
The penalty relief is available to two categories of taxpayers:
* Wage earners who have been unemployed at least 30 consecutive days
during 2011 or in 2012 up to this year’s April 17 tax deadline.
* Self-employed individuals who experienced a 25 percent or greater
reduction in business income in 2011 due to the economy.
To qualify for this penalty relief, your adjusted gross income must not exceed $200,000 if married filing jointly or $100,000 if your filing status is single, married filing separately, head of household, or qualifying widower. Your 2011 balance due can not exceed $50,000.
Taxpayers who qualify need to complete a new Form 1127A to request the 2011 penalty relief.
Installment agreements An installment agreement is a payment option for those who cannot pay their entire tax bill by the due date.
The Fresh Start provisions give more taxpayers the ability to use streamlined installment agreements to catch up on back taxes and also more time to pay.
The new threshold for requesting an installment agreement has been raised from $25,000 to $50,000.
This option requires limited financial information, meaning far less burden to the taxpayer. The maximum term for streamlined installment agreements has been raised to six years from the current five-year maximum.
If your debt is more than $50,000, you’ll still need to supply the IRS with a Collection Information Statement (Form 433-A or Form 433-F).
You also can pay your balance down to $50,000 or less to qualify for this payment option.
With an installment agreement, you’ll pay less in penalties, but interest continues to accrue on the outstanding balance.
In order to qualify for the new expanded streamlined installment agreement, you must agree to monthly direct debit payments.
3. Offer in Compromise Under the first round of Fresh Start in 2011, the IRS expanded the Offer in Compromise (OIC) program to cover a larger group of struggling taxpayers.
An Offer in Compromise is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed.
The IRS recognizes many taxpayers are still struggling to pay their bills so the agency has been working on more common-sense changes to the OIC program to more closely reflect real-world situations.
Generally, an offer will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through a payment agreement.
The IRS looks at the taxpayer’s income and assets to make a determination regarding the taxpayer’s ability to pay.
by Fresh Start Tax | Jun 9, 2016 | Tax Help
Former IRS agent and teaching instructors. Since 1982. We can resolve your IRS Tax Problem.
There are many taxpayers who receive an IRS tax transcript and have no idea what they’re seeing, what they’re reading or how it impacts their case.
We have over 65 years of professional tax experience working directly for Internal Revenue Service and the local, district, and regional tax offices of the internal revenue service.
To get tax help, tax advice and tax strategies on your IRS tax transcript call us today and we will read and analyze your best case scenario and situation to completely resolve your IRS tax problem.
There are two general tax transcripts can get.
One is a summary of your last six years were the history and the other is an income and wage report.
Depending on your case and situation you should make a determination on what you need, we recommend you order bot and have an exit strategy tax transcript and the wage and income reports.
If you’re dealing with any tax situation we are a professional and affordable tax firm and one of the most experienced tax firms in the country.
IRS Tax Transcript + Read and Analyses By Former Agents + How to End IRS Problems
by Fresh Start Tax | Jun 9, 2016 | Tax Help
We are experts in the removal and releasing of the Federal Tax Lien.
There are various ways to get a federal tax lien released. The first and most obvious way is to pay the federal tax lien often full, to set up a part pay agreement with Internal Revenue Service on direct debit and meet the qualifications thereof ( Read Below ), and the third way is to have the statute of limitations expire on the existing IRS tax debt.
I would advise taxpayers to pull a credit report to make sure they know where the federal tax liens were filed. Many times, IRS can file them in multiple places.
Credit reports can help assure clients and taxpayers were federal tax liens were filed.
It is possible that taxpayers have property in other states or assets in other states. If IRS is aware this, they might may file multiple liens.
Also if you live near two counties or boroughs, many times the IRS will file liens in both.
They are the same federal tax lien but all liens will have to be released to make sure your credit report is squared away.
There are other ways to get your federal tax lien released and after a careful review on your case we will go over different conditions and exceptions that may exist and there are others.
Read below and find out some of the other methods.
Each situation is different and upon your review with our office we will let you know how to get your federal tax lien removes release and removed as fast as possible.
When you get your federal tax lien released it will be necessary for you to contact a different credit agencies to make sure they have a copy so it can affect your new credit score.
What is a 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. F• How to Get Rid of a Lien
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.
The general statute of limitation.
On a federal tax lien it is 10 years from the date of assessment.
I can review your case file with you to determine the period of time to determine whether your tax debt has already been forgiven and that you can obtain a release of the federal tax lien.
To find out the official period of time that is left on your statute you will need to pull an IRS tax transcript, we can help with the process and evaluate the transcript and let you know your official statutory time left that IRS has to collect back taxes.
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).
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).
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.
by Fresh Start Tax | Jun 9, 2016 | Tax Help
After the usually 10 year statutory period of time, a Federal Tax Lien is a “self-releasing lien ”.
You can find the date on the face of tax lien, it is on right on the face of the lien.
They release by themselves however credit institutions want the hard copy
The Internal Revenue Service will not send you a paper release unless you ask. Because of the expense and lack of manpower it is getting harder and harder to actually obtain a paper release.
Our office is well-equipped to get you a paper release of the federal tax lien so you can notify your bank, your creditor and make sure your release of federal lien shows up on your credit report.
Call us today for a free initial tax consultation. We can help make sure you actually get a copy of the actual paper release.
Very few people understand this federal tax lien is self releasing.
As a matter of fact if you do not work in this industry people have struggled to convince people their statutory period of time is over.
When you call us will explain the process obtain a copy of the release of federal tax lien so you can move on with your life and get your credit back in order.
IMPORTANT RELEASE INFORMATION FOUND ON THE FEDERAL TAX LIEN
For each assessment listed below, unless the lien is refiled by the date given in column(e), this notice shall, on the day following such date, operate as a certificate of release as defined in IRC 6325(a).”
The general statute of limitation. On a federal tax lien is 10 years from the date of assessment.
I am a former IRS agent and teaching instructor.
I can review your case file with you to determine the period of time to determine whether your tax debt has already been forgiven and that you can obtain a release of the federal tax lien.
To find out the official period of time that is left on your statute you will need to pull an IRS tax transcript, we can help with the process and evaluate the transcript and let you know your official statutory time left that IRS has to collect back taxes.
The Internal Revenue Service has a statute of limitations based on the amount of time in length that IRS has to collect a back tax debt.
The Internal Revenue Service cannot voluntarily extend the statute of limitation on their own, conditions must exist.
The general rule, there is a ten-year statute of limitations on IRS collections.
For 90% of all taxpayers the tenure statute of limitation of 10 years will probably be the rule of thumb.
The main the exceptions to the rule that extend the statute of limitations you will find below.
We have over 65 years of professional IRS work experience and are experts in determining the dates of assessment and the point in time in which IRS will forgive a tax debt.
This 10 year period begins from the date of the assessment.
WHAT IS THE IRS DATE OF ASSESSMENT
It is important to know the date of assessment begins when the IRS accepts your tax return on their computerized system, CADE2.
The assessment is the statutorily required recording of the tax liability.
Assessment is made by recording the taxpayer’s name, address, and tax liability, so forth and so on
The assessment date is the 23C date or 150 date.
You can find of those on your tax transcripts. We are experts in reading tax transcripts and establishing your legal date of assessment.
The 23C date is the Monday on which the recording of assessment and other adjustments are made in summary manner on Form 23C and signed by a Service Center officer.
As a general rule it can be anywhere from five days to six weeks from the day you actually filed your tax return. A lot is dependent whether you e-file or send it in manually by snail mail to the Internal Revenue Service.
To find out what your date of assessment is it will be necessary to pull an IRS transcript to officially verify the date. without an official IRS tax transcript is impossible to determine
Your assessment date. as clients a fresh start tax we can provide all this necessary information to you and help determine the official date of assessment to find out if the statute of limitations has expired on your IRS tax debt.
Exceptions to the ten-year statute of limitations rule apply.
Bankruptcy
The CSED, in a case under the Bankruptcy Code, is suspended while the Service is prohibited by reason of the case from collecting, and for six months thereafter.
Judgment/Litigation
Per IRC 6502(a), a court action brought against the taxpayer prior to the expiration of the collection statute extends the period to collect until the tax liability or judgment against the taxpayer is satisfied or becomes unenforceable.
Suit to reduce Assessments to Judgment
In order for a suit to reduce the assessments to judgment and suspend the collection period, it must be filed prior to the CSED. The filing of a suit will suspend the collection statute during litigation
Collection Due Process (CDP)
The CSED is suspended from the date the Service receives a timely filed request for a CDP hearing to the date the taxpayer withdraws their request for a CDP hearing or the date the determination from Appeals becomes final, including any court appeals.
If 90 days is not remaining on the statute of limitations when the determination becomes final, the statute of limitations is extended to equal 90 days.
The collection statute is not extended for equivalency hearings.
The Offer In Compromise
For offers pending prior to January 1, 2000, the CSED extension was affected by Treasury Regulation § 301.7122–1(f) (1960). Under this regulation the practice of the Service generally was to obtain from the taxpayer a waiver of the CSED for the period the offer in compromise was pending, while any installment of an accepted offer remained unpaid, and for one additional year thereafter.
For offers pending prior to January 1, 2000, a waiver of the CSED cannot extend the CSED beyond either December 31, 2002, or the original CSED, whichever is later, pursuant to section 3461(c)(2) of the IRS Restructuring and Reform Act of 1998 (RRA 98).
For offers pending on or made after December 31, 1999, suspensions of the running of the CSED in the offer in compromise context are governed by statute, specifically by IRC 6331(k)(1) and (3).
Under these provisions, the Service is prohibited from levying, and the CSED is suspended
While an offer is pending with the Service,
For 30 days immediately following rejection of the offer, and
For the period that a timely filed appeal of a rejection is being considered in Appeals.
CSED extensions for the period of time “while any installment remains unpaid” and “for one additional year thereafter” are eliminated.
Installment Agreements – Partial Payment Installment Agreements With Form 900, Tax Collection Waiver
Form 900, Tax Collection Waiver, is only executed in connection with the granting a partial payment installment agreement and only in certain situations.
Waiver Procedures for Partial Payment Installment Agreements. IRS policy dictates that a Form 900 be limited to no more than five years, plus up to one year to account for changes in the agreement. Note: Prior to July 2005, IRS policy permitted CSED extensions in conjunction with all installment agreements.
Effective March 9, 2002, the CSED is suspended during:
The time the proposed installment agreement is pending,
Thirty days following the rejection of a proposed installment agreement,
Thirty days following termination of an installment agreement, and,
Any appeal of the termination or rejection of the installment agreement.
Note: This change is not retroactive. The suspension of the running of the collection statute is during the time that a levy is prohibited. The CSED is not suspended while an installment agreement is in effect.
Relief From Joint And Several Liability On Joint Returns/Innocent Spouse
Collection by levy or a proceeding in court against a spouse is suspended for the requesting spouse when he or she makes a qualifying request under IRC 6015(b), and/or IRC 6015(c).
Collection is suspended for claims filed under IRC 6015(f) if the liability was unpaid as of December 20, 2006, or the liability did not arise until after December 20, 2006. For more information see IRM 25.15.1.8, Statute of Limitations on Collection.
The collection period is suspended from the filing of the claim until the earlier of the date a waiver is filed, or until the expiration of the 90 day period for petitioning the Tax Court, or if a Tax Court petition is filed, when the Tax Court decision becomes final, plus, in each instance, 60 days.
If a request for relief is made in response to collection due process procedures, there is also suspension of collection activity and the collection period provided for by IRC 6330(e) for the period during which any administrative hearings, and appeals therein, regarding the levy are pending.
The rules for suspension under IRC 6330 differ from IRC 6015.
In general, the latest suspension of collection and the collection period should control, which may require analyzing the suspension under both IRC 6015 and IRC 6330 where relief from joint and several liability is requested as part of an IRC 6330 hearing.
If the requesting spouse signs a waiver of the restrictions on collection, the suspension of the period of limitations on collection against the requesting spouse will terminate 60 days after the waiver is filed with the Service, limiting the CSED extension to the period from when the claim was filed to the time the waiver was signed, plus 60 days.
A request for reconsideration is not a qualified request for relief for purposes of Treasury Regulation §1.6015-1(h)(5), and does not trigger the restrictions on collection pursuant to section 6015(e)(1)(B) or the suspension of the collection period of limitation under section 6015(e)(2).
Taxpayer Living Outside the U.S.
The period of limitations on collection after assessment is suspended while the taxpayer is outside the United States if the absence is for a continuous period of at least six months per IRC 6503(c) .
To make certain that the Government has an opportunity to collect the tax after the taxpayer’s return, the period does not expire (where the taxpayer has been out of the country for six months or more) until six months after the taxpayer’s return to the country.
As the application of this provision can result in the CSED being suspended for a very long time, policies for the administration of this code section are now established.
Call us today for a free initial tax consultation we will be able to pull your transcripts and determine the length of time that IRS has to collect your back tax debt.
If your time that has expired we can help obtain a paper copy of the release so you can free up your finances and credit report.
Remember after 10 years the IRS federal tax lien self release call us today to learn more and to gauge true tax professionals to help you.
by Fresh Start Tax | Jun 9, 2016 | Tax Help
Has your tax debt already been forgiven, we can to find out the statute of limitation period to get your tax lien released NOW.
The general statute of limitation. On a federal tax lien it is 10 years from the date of assessment.
I am a former IRS agent and teaching instructor.
I can review your case file with you to determine the period of time to determine whether your tax debt has already been forgiven and that you can obtain a release of the federal tax lien.
To find out the official period of time that is left on your statute you will need to pull an IRS tax transcript, we can help with the process and evaluate the transcript and let you know your official statutory time left that IRS has to collect back taxes.
The Internal Revenue Service has a statute of limitations based on the amount of time in length that IRS has to collect a back tax debt.
The Internal Revenue Service cannot voluntarily extend the statute of limitation on their own, conditions must exist.
The general rule, there is a ten-year statute of limitations on IRS collections.
For 90% of all taxpayers the tenure statute of limitation of 10 years will probably be the rule of thumb.
The main the exceptions to the rule that extend the statute of limitations you will find below.
We have over 65 years of professional IRS work experience and are experts in determining the dates of assessment and the point in time in which IRS will forgive a tax debt.
This 10 year period begins from the date of the assessment.
WHAT IS THE IRS DATE OF ASSESSMENT
It is important to know the date of assessment begins when the IRS accepts your tax return that on their computerized system oin CADE2.
The assessment is the statutorily required recording of the tax liability.
Assessment is made by recording the taxpayer’s name, address, and tax liability.
The assessment date is the 23C date or 150 date.
You can find of those on your tax transcripts.
We are experts in reading tax transcripts and establishing your legal date of assessment.
The 23C date is the Monday on which the recording of assessment and other adjustments are made in summary manner on Form 23C and signed by a Service Center officer.
As a general rule it can be anywhere from five days to six weeks from the day you actually filed your tax return. A lot is dependent whether you e-file or send it in manually by snail mail to the Internal Revenue Service.
To find out what your date of assessment is it will be necessary to pull an IRS transcript to officially verify the date. without an official IRS tax transcript is impossible to determine
Your assessment date. as clients a fresh start tax we can provide all this necessary information to you and help determine the official date of assessment to find out if the statute of limitations has expired on your IRS tax debt.
Exceptions to the ten-year statute of limitations rule apply.
Bankruptcy
The CSED, in a case under the Bankruptcy Code, is suspended while the Service is prohibited by reason of the case from collecting, and for six months thereafter.
Judgment/Litigation
Per IRC 6502(a), a court action brought against the taxpayer prior to the expiration of the collection statute extends the period to collect until the tax liability or judgment against the taxpayer is satisfied or becomes unenforceable.
Suit to Reduce Assessments to Judgment
In order for a suit to reduce the assessments to judgment and suspend the collection period, it must be filed prior to the CSED. The filing of a suit will suspend the collection statute during litigation
Collection Due Process (CDP)
The CSED is suspended from the date the Service receives a timely filed request for a CDP hearing to the date the taxpayer withdraws their request for a CDP hearing or the date the determination from Appeals becomes final, including any court appeals.
If 90 days is not remaining on the statute of limitations when the determination becomes final, the statute of limitations is extended to equal 90 days.
The collection statute is not extended for equivalency hearings.
Offer In Compromise
For offers pending prior to January 1, 2000, the CSED extension was affected by Treasury Regulation § 301.7122–1(f) (1960). Under this regulation the practice of the Service generally was to obtain from the taxpayer a waiver of the CSED for the period the offer in compromise was pending, while any installment of an accepted offer remained unpaid, and for one additional year thereafter.
For offers pending prior to January 1, 2000, a waiver of the CSED cannot extend the CSED beyond either December 31, 2002, or the original CSED, whichever is later, pursuant to section 3461(c)(2) of the IRS Restructuring and Reform Act of 1998 (RRA 98).
For offers pending on or made after December 31, 1999, suspensions of the running of the CSED in the offer in compromise context are governed by statute, specifically by IRC 6331(k)(1) and (3).
Under these provisions, the Service is prohibited from levying, and the CSED is suspended
While an offer is pending with the Service,
For 30 days immediately following rejection of the offer, and
For the period that a timely filed appeal of a rejection is being considered in Appeals.
CSED extensions for the period of time “while any installment remains unpaid” and “for one additional year thereafter” are eliminated.
Installment Agreements – Partial Payment Installment Agreements With Form 900, Tax Collection Waiver
Form 900, Tax Collection Waiver, is only executed in connection with the granting a partial payment installment agreement and only in certain situations.
Waiver Procedures for Partial Payment Installment Agreements. IRS policy dictates that a Form 900 be limited to no more than five years, plus up to one year to account for changes in the agreement. Note: Prior to July 2005, IRS policy permitted CSED extensions in conjunction with all installment agreements.
Effective March 9, 2002, the CSED is suspended during:
The time the proposed installment agreement is pending,
Thirty days following the rejection of a proposed installment agreement,
Thirty days following termination of an installment agreement, and,
Any appeal of the termination or rejection of the installment agreement.
Note:
This change is not retroactive. The suspension of the running of the collection statute is during the time that a levy is prohibited. The CSED is not suspended while an installment agreement is in effect.
Relief From Joint And Several Liability On Joint Returns/Innocent Spouse
Collection by levy or a proceeding in court against a spouse is suspended for the requesting spouse when he or she makes a qualifying request under IRC 6015(b), and/or IRC 6015(c).
Collection is suspended for claims filed under IRC 6015(f) if the liability was unpaid as of December 20, 2006, or the liability did not arise until after December 20, 2006. For more information see IRM 25.15.1.8, Statute of Limitations on Collection.
The collection period is suspended from the filing of the claim until the earlier of the date a waiver is filed, or until the expiration of the 90 day period for petitioning the Tax Court, or if a Tax Court petition is filed, when the Tax Court decision becomes final, plus, in each instance, 60 days.
If a request for relief is made in response to collection due process procedures, there is also suspension of collection activity and the collection period provided for by IRC 6330(e) for the period during which any administrative hearings, and appeals therein, regarding the levy are pending.
The rules for suspension under IRC 6330 differ from IRC 6015.
In general, the latest suspension of collection and the collection period should control, which may require analyzing the suspension under both IRC 6015 and IRC 6330 where relief from joint and several liability is requested as part of an IRC 6330 hearing.
If the requesting spouse signs a waiver of the restrictions on collection, the suspension of the period of limitations on collection against the requesting spouse will terminate 60 days after the waiver is filed with the Service, limiting the CSED extension to the period from when the claim was filed to the time the waiver was signed, plus 60 days.
A request for reconsideration is not a qualified request for relief for purposes of Treasury Regulation §1.6015-1(h)(5), and does not trigger the restrictions on collection pursuant to section 6015(e)(1)(B) or the suspension of the collection period of limitation under section 6015(e)(2).
Taxpayer Living Outside the U.S.
The period of limitations on collection after assessment is suspended while the taxpayer is outside the United States if the absence is for a continuous period of at least six months per IRC 6503(c) .
To make certain that the Government has an opportunity to collect the tax after the taxpayer’s return, the period does not expire (where the taxpayer has been out of the country for six months or more) until six months after the taxpayer’s return to the country.
As the application of this provision can result in the CSED being suspended for a very long time, policies for the administration of this code section are now established.
Call us today for a free initial tax consultation we will be able to pull your transcripts and determine the length of time that IRS has to collect your back tax debt.
If your time that has expired we can help obtain a paper copy of the release so you can free up your finances and credit report.
by Fresh Start Tax | Jun 9, 2016 | Tax Help
A Federal Tax Lien is a “self-releasing lien ” You can find the date on the face of tax lien. They release by themselves however credit institutions want the hard copy to adjust your credit.
The Internal Revenue Service will not send you a paper release unless you ask. Because of the expense and lack of manpower it is getting harder and harder to actually obtain a paper release.
Our office is well-equipped to get you a paper release of the federal tax lien so you can notify your bank, your creditor and make sure your release of federal lien shows up on your credit report.
Call us today for a free initial tax consultation. We can help make sure you actually get a copy of the actual paper release.
Very few people understand this federal tax lien is self releasing.
As a matter of fact if you do not work in this industry people have struggled to convince people their statutory period of time is over.
When you call us will explain the process obtain a copy of the release of federal tax lien so you can move on with your life and get your credit back in order.
IMPORTANT RELEASE INFORMATION FOUND ON THE FEDERAL TAX LIEN
For each assessment listed below, unless the lien is refiled by the date given in column(e), this notice shall, on the day following such date, operate as a certificate of release as defined in IRC 6325(a).”
The general statute of limitation. On a federal tax lien is 10 years from the date of assessment.
I am a former IRS agent and teaching instructor.
I can review your case file with you to determine the period of time to determine whether your tax debt has already been forgiven and that you can obtain a release of the federal tax lien.
To find out the official period of time that is left on your statute you will need to pull an IRS tax transcript, we can help with the process and evaluate the transcript and let you know your official statutory time left that IRS has to collect back taxes.
The Internal Revenue Service has a statute of limitations based on the amount of time in length that IRS has to collect a back tax debt.
The Internal Revenue Service cannot voluntarily extend the statute of limitation on their own, conditions must exist.
The general rule, there is a ten-year statute of limitations on IRS collections.
For 90% of all taxpayers the tenure statute of limitation of 10 years will probably be the rule of thumb.
The main the exceptions to the rule that extend the statute of limitations you will find below.
We have over 65 years of professional IRS work experience and are experts in determining the dates of assessment and the point in time in which IRS will forgive a tax debt.
This 10 year period begins from the date of the assessment.
WHAT IS THE IRS DATE OF ASSESSMENT
It is important to know the date of assessment begins when the IRS accepts your tax return on their computerized system, CADE2.
The assessment is the statutorily required recording of the tax liability.
Assessment is made by recording the taxpayer’s name, address, and tax liability, so forth and so on
The assessment date is the 23C date or 150 date.
You can find of those on your tax transcripts. We are experts in reading tax transcripts and establishing your legal date of assessment.
The 23C date is the Monday on which the recording of assessment and other adjustments are made in summary manner on Form 23C and signed by a Service Center officer.
As a general rule it can be anywhere from five days to six weeks from the day you actually filed your tax return. A lot is dependent whether you e-file or send it in manually by snail mail to the Internal Revenue Service.
To find out what your date of assessment is it will be necessary to pull an IRS transcript to officially verify the date. without an official IRS tax transcript is impossible to determine
Your assessment date. as clients a fresh start tax we can provide all this necessary information to you and help determine the official date of assessment to find out if the statute of limitations has expired on your IRS tax debt.
Exceptions to the ten-year statute of limitations rule apply.
Bankruptcy
The CSED, in a case under the Bankruptcy Code, is suspended while the Service is prohibited by reason of the case from collecting, and for six months thereafter.
Judgment/Litigation
Per IRC 6502(a), a court action brought against the taxpayer prior to the expiration of the collection statute extends the period to collect until the tax liability or judgment against the taxpayer is satisfied or becomes unenforceable.
Suit to Reduce Assessments to Judgment
In order for a suit to reduce the assessments to judgment and suspend the collection period, it must be filed prior to the CSED. The filing of a suit will suspend the collection statute during litigation
Collection Due Process (CDP)
The CSED is suspended from the date the Service receives a timely filed request for a CDP hearing to the date the taxpayer withdraws their request for a CDP hearing or the date the determination from Appeals becomes final, including any court appeals.
If 90 days is not remaining on the statute of limitations when the determination becomes final, the statute of limitations is extended to equal 90 days.
The collection statute is not extended for equivalency hearings.
The Offer In Compromise
For offers pending prior to January 1, 2000, the CSED extension was affected by Treasury Regulation § 301.7122–1(f) (1960). Under this regulation the practice of the Service generally was to obtain from the taxpayer a waiver of the CSED for the period the offer in compromise was pending, while any installment of an accepted offer remained unpaid, and for one additional year thereafter.
For offers pending prior to January 1, 2000, a waiver of the CSED cannot extend the CSED beyond either December 31, 2002, or the original CSED, whichever is later, pursuant to section 3461(c)(2) of the IRS Restructuring and Reform Act of 1998 (RRA 98).
For offers pending on or made after December 31, 1999, suspensions of the running of the CSED in the offer in compromise context are governed by statute, specifically by IRC 6331(k)(1) and (3).
Under these provisions, the Service is prohibited from levying, and the CSED is suspended
While an offer is pending with the Service,
For 30 days immediately following rejection of the offer, and
For the period that a timely filed appeal of a rejection is being considered in Appeals.
CSED extensions for the period of time “while any installment remains unpaid” and “for one additional year thereafter” are eliminated.
Installment Agreements – Partial Payment Installment Agreements With Form 900, Tax Collection Waiver
Form 900, Tax Collection Waiver, is only executed in connection with the granting a partial payment installment agreement and only in certain situations.
Waiver Procedures for Partial Payment Installment Agreements. IRS policy dictates that a Form 900 be limited to no more than five years, plus up to one year to account for changes in the agreement. Note: Prior to July 2005, IRS policy permitted CSED extensions in conjunction with all installment agreements.
Effective March 9, 2002, the CSED is suspended during:
The time the proposed installment agreement is pending,
Thirty days following the rejection of a proposed installment agreement,
Thirty days following termination of an installment agreement, and,
Any appeal of the termination or rejection of the installment agreement.
Note: This change is not retroactive. The suspension of the running of the collection statute is during the time that a levy is prohibited. The CSED is not suspended while an installment agreement is in effect.
Relief From Joint And Several Liability On Joint Returns/Innocent Spouse
Collection by levy or a proceeding in court against a spouse is suspended for the requesting spouse when he or she makes a qualifying request under IRC 6015(b), and/or IRC 6015(c).
Collection is suspended for claims filed under IRC 6015(f) if the liability was unpaid as of December 20, 2006, or the liability did not arise until after December 20, 2006. For more information see IRM 25.15.1.8, Statute of Limitations on Collection.
The collection period is suspended from the filing of the claim until the earlier of the date a waiver is filed, or until the expiration of the 90 day period for petitioning the Tax Court, or if a Tax Court petition is filed, when the Tax Court decision becomes final, plus, in each instance, 60 days.
If a request for relief is made in response to collection due process procedures, there is also suspension of collection activity and the collection period provided for by IRC 6330(e) for the period during which any administrative hearings, and appeals therein, regarding the levy are pending.
The rules for suspension under IRC 6330 differ from IRC 6015.
In general, the latest suspension of collection and the collection period should control, which may require analyzing the suspension under both IRC 6015 and IRC 6330 where relief from joint and several liability is requested as part of an IRC 6330 hearing.
If the requesting spouse signs a waiver of the restrictions on collection, the suspension of the period of limitations on collection against the requesting spouse will terminate 60 days after the waiver is filed with the Service, limiting the CSED extension to the period from when the claim was filed to the time the waiver was signed, plus 60 days.
A request for reconsideration is not a qualified request for relief for purposes of Treasury Regulation §1.6015-1(h)(5), and does not trigger the restrictions on collection pursuant to section 6015(e)(1)(B) or the suspension of the collection period of limitation under section 6015(e)(2).
Taxpayer Living Outside the U.S.
The period of limitations on collection after assessment is suspended while the taxpayer is outside the United States if the absence is for a continuous period of at least six months per IRC 6503(c) .
To make certain that the Government has an opportunity to collect the tax after the taxpayer’s return, the period does not expire (where the taxpayer has been out of the country for six months or more) until six months after the taxpayer’s return to the country.
As the application of this provision can result in the CSED being suspended for a very long time, policies for the administration of this code section are now established.
Call us today for a free initial tax consultation we will be able to pull your transcripts and determine the length of time that IRS has to collect your back tax debt.
If your time that has expired we can help obtain a paper copy of the release so you can free up your finances and credit report.
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