by Jim Magary | Mar 22, 2016 | Tax Help
We are composed of AFFORDABLE former IRS agents and managers who have over 65 years of direct work experience in the local, district, and regional tax offices of the IRS. Since 1982.
There are various ways of paying back taxes owed to the Internal Revenue Service and most are dependent on your current financial statement or state of affairs.
Sometimes you have other options than making payment plans with the IRS. It is best to know all your options before you make a concrete decision.
Many times taxpayers who need payment plans may find themselves in a hardship situation cannot afford to pay but because of their fear of Internal Revenue Service they may think that is the only option other taxpayers may want to learn that they can settle their tax debt for pennies on the dollar.
They may be a qualified candidate through the offer in compromise program.
In most cases in which a client has not paid back taxes there are several options available after the taxpayer completes a current financial statement on form 433F.
That financial statement must be completely documented along with bank statements, pay stubs, copy of all expenses and receipts matching those expenses.
Once IRS reviews your current financial statement IRS will apply the national standard tests of allowable expenses that the Service feels necessary in certain regions and counties in the United States.
IRS will use those standards and determine the type settlement that will be applicable in your situation. We can explain these standards when you speak to us.
Full compliance checks by the Internal Revenue Service.
As a former IRS agent and teaching instructor it was mandated by the Internal Revenue Service we conduct what is commonly known as a full compliance check.
A full compliance check means that Internal Revenue Service will pull up a complete history of both individual and business tax summaries.
IRS will want to make sure that all tax returns are filed and are going on the system so they can work the case all as one.
IRS will require an individual financial statement, business financial statements if necessary and will want to review your last years tax return as well as six months worth of bank statements.
If you are contacted by Internal Revenue Service and have unfiled tax returns make sure they are in the process of being prepared and put on the system because IRS will not close your case unless you’re in full compliance.
The different settlement options for back taxes.
1. After review of your current financial statement, IRS may deem you to be in a currently not collectible status, this means the Internal Revenue Service will suspend your case for two or three years and bring it back out to the field at a later point in time in which they will rework the case and asked for a new financial statement.
2. IRS may determine that you are a monthly installment candidate.
Over 6.5 million taxpayers enter into monthly installment payments each and every year and believe it or not at least a third of those taxpayers who enter into those agreements break them.
3. The other options include filing offer in compromise to settle your tax debt.
The offer in compromise is a long process and a very specific process. Your greatest chance of acceptance if you are a qualified candidate is through a true tax professional company knows the system and are well experienced in the process.
As a former IRS agent and teaching instructor I taught new IRS agents this program.
You should know there is an IRS pre-qualifier tool for those wanting to file an offer in compromise.
The Offer in Compromise Option
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
Your initial payment will vary based on your offer and the payment option you choose:
• The 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.
• The 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 in compromise 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 before IRS will consider you settling your tax debt with an offer in compromise. We can prepare all back tax returns with little or no records.
Call us today for a free initial tax consultation and hear the truth about your case and will explain all the option for taxes owed.
by Jim Magary | Mar 22, 2016 | Tax Help
We are the affordable professional tax firm, since 1982. If you business tax debt, call us for a free tax consult.
We have over 65 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service.
We have worked as managers, supervisors and teaching instructors.
Back Business Tax Debt & Tax Returns & Tax Filings
Any time you owe back business tax debt the IRS will conduct a full compliance check. A full compliance check means that IRS will pull your working individual history and your business history to see what taxes are owed and what tax returns remain unfiled.
The Internal Revenue Service will work both cases at the same time.
Back Payroll taxes are a concern for Internal Revenue Service because these taxes are actually trust fund taxes, that is, a company holds these taxes for the benefit of the government.
When these taxes are not paid a red flag is raised and IRS makes every possible effort to collect these payroll taxes and go after the responsible individuals whose job it was to collect and turn over these back taxes.
IRS we use every avenue of enforced collections to do so. I should know, I am a former revenue officer who used to work these cases and I know the very best tax defense.
We can go ahead and file all your unfiled payroll tax returns and settle your debt all at the same time.
It is critical that you understand that you do not want IRS the filing your tax delinquent tax returns for you. 6020b will become a problem!
Under 6020 B of the Internal Revenue Code, the IRS has the right to prepare your back payroll tax returns if you do not voluntarily file them. this will be nothing but trouble for you.
IRS can set up a personal assessment against you and collect the tax as though you owe individual income taxes. Yes you can be held personally responsible for the back payroll taxes. You can be subject to tax levies and tax liens.
Personal Responsibility for Payroll Taxes, BEWARE.
If the IRS has found you a responsible person for the trust fund penalty, call us today for free initial tax consultation and we will walk you through the process of resolving this tax at once and for all.
As former IRS agents we set up trust fund penalties against responsible persons for corporations or businesses that owed back payroll taxes.
If a company can no longer pay their back payroll taxes, the Internal Revenue Service has the right under 6672 to set up the trust fund debt against those who are held responsible. This is called the trust fund penalty.
Who Can Be Responsible for the Trust Fund Taxes, code section 6672. Can it Be You?
IRS will take a look at anybody that had any control of the business.
- An officer or an employee of a corporation;
- A member or employee of a partnership;
- A corporate director or shareholder or member;
- A member of a board of trustees of a nonprofit organization, or anyone deemed to be responsible;
- Other persons with authority and who had control over funds to direct their disbursement;
- Those who willfully and with full knowledge chose not to pay the payroll tax liability.
You’ll know if you are one of these persons because you will receive IRS form 2751 & 1153 indicating a proposed notice of assessment against you.
There are various options available.
As soon as we review your case we can instantly tell you ways to help resolve your problem.
Being former IRS agents and managers we know every possible solution to remedy this tax debt. We can resolve and possibly reduce your tax obligation.
There are various options you have for delinquent ax relief:
The basic options include:
1. trust fund appeals, the possibility of an offer in compromise, doubt to liability,
2.hardships, or currently not collectible,
3. payments plan, and
4. the offer in compromise, if you are a qualified and suitable candidate.
5. bankruptcy is another option.
The Process of Getting IRS Tax Debt Relief on Trust Fund Tax Debt
We need to look to find out if you were truly responsible under 6672 of the IRS code. many time IRS ram rods these penalties to people who truly were not responsible for trust fund taxes.
I’ve work so many cases and being a former IRS agent IRS just tries to set these penalties up against everybody and many people do not have proper representation to fight IRS.
We will carefully review your case to find out if you were truly responsible for the trust fund penalty.
We will conduct a review to find out if there is any way that we can appeal for change the assessment of this trust fund tax.
If we feel we would’ve beat this assessment through the appellate process we can go ahead and file an offer in compromise as to doubt as to liability and appeal this assessment.
If you are responsible for the tax, IRS will take a current financial statement and make a determination based on the collectibility of the tax.
How the Internal Revenue Service will work your case if you owe back payroll IRS tax debt.
IRS will require a 433A or 433F, an individual financial statement.
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 will close your case by:
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 placed 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 rrequires a lot of skill and expertise to have accepted by the Internal Revenue Service.
Call us today for free initial tax consultation.
We are a full-service firm with a specialty in expertise in all IRS matters.
We have over 200 years professional tax experience and can fully resolve any IRS problem especially if you owe business tax debt and wish to settle with the Internal Revenue Service.
We can prepare all back tax filings and resolve your individual, business, or corporate tax problem.
Owe Business Taxes + Settle Tax Business Debt + Tax Filings + Individual, Business, Corporate
by Jim Magary | Mar 22, 2016 | Tax Help
We are the affordable professional tax firm, since 1982. Former IRS Agents & Managers, We Know the System!
We know the system inside and out. we have worked thousands of cases and we understand all the methodologies to resolve IRS payroll tax debt. We are affordable representation that can resolve any business tax problem.
We have over 65 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service. Your best source of tax representation are former IRS agents and managers to know the system.
IRS Payroll Taxes Representation + Resolve Business Tax Debt
Back Payroll taxes are a concern for Internal Revenue Service because these taxes are actually trust fund taxes, that is, a company holds these taxes for the benefit of the government.
When these taxes are not paid a red flag is raised and IRS makes every possible effort to collect these payroll taxes and go after the responsible individuals whose job it was to collect and turn over these back taxes.
IRS we use every avenue of enforced collections to do so. I should know, I am a former revenue officer who used to work these cases and I know the very best tax defense.
We can go ahead and file all your unfiled payroll tax returns and settle your debt all at the same time.
It is critical that you understand that you do not want IRS the filing your tax back tax returns for you.
Under 6020 B of the Internal Revenue Code, the IRS has the right to prepare your back payroll tax returns if you do not voluntarily file them. this will be nothing but trouble for you.
IRS can set up a personal assessment against you and collect the tax as though you owe individual income taxes. Yes you can be held personally responsible for the back payroll taxes. You can be subject to tax levies and tax liens.
You May Have Personal Responsibility for Payroll Taxes, Caution!
If the IRS has found you a responsible person for the trust fund penalty, call us today for free initial tax consultation and we will walk you through the process of resolving this tax at once and for all.
As former IRS agents we set up trust fund penalties against responsible persons for corporations or businesses that owed back payroll taxes.
If a company can no longer pay their back payroll taxes, the Internal Revenue Service has the right under 6672 to set up the trust fund debt against those who are held responsible. This is called the trust fund penalty.
Who Can Be Responsible for the Trust Fund Taxes, code section 6672. Can it Be You?
Persons that may be held responsible are some of the following:
- An officer or an employee of a corporation;
- A member or employee of a partnership;
- A corporate director or shareholder or member;
- A member of a board of trustees of a nonprofit organization, or anyone deemed to be responsible;
- Other persons with authority and who had control over funds to direct their disbursement;
- Those who willfully and with full knowledge chose not to pay the payroll tax liability.
You’ll know if you are one of these persons because you will receive IRS form 2751 & 1153 indicating a proposed notice of assessment against you.
There are various options available. As soon as we review your case we can instantly tell you ways to help resolve your problem.
Being former IRS agents and managers we know every possible solution to remedy this tax debt. We can resolve and possibly reduce your tax obligation.
There are various options you have for delinquent tax relief:
The basic options include:
1. trust fund appeals, the possibility of an offer in compromise, doubt to liability,
2.hardships, or currently not collectible,
3. payments plan, and
4. the offer in compromise, if you are a qualified and suitable candidate.
5. bankruptcy is another option.
The Process of Getting IRS Tax Debt Relief on Trust Fund Tax Debt
We need to look to find out if you were truly responsible under 6672 of the IRS code. many time IRS ram rods these penalties to people who truly were not responsible for trust fund taxes.
I’ve work so many cases and being a former IRS agent IRS just tries to set these penalties up against everybody and many people do not have proper representation to fight IRS.
We will carefully review your case to find out if you were truly responsible for the trust fund penalty.
We will conduct a review to find out if there is any way that we can appeal for change the assessment of this trust fund tax.
If we feel we would’ve beat this assessment through the appellate process we can go ahead and file an offer in compromise as to doubt as to liability and appeal this assessment.
If you are responsible for the tax, IRS will take a current financial statement and make a determination based on the collectibility of the tax.
How the Internal Revenue Service will work your case if you owe back payroll IRS tax debt.
IRS will require a 433A or 433F, an individual financial statement.
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 will close your case by:
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 placed 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. IRS accepts 38% of offers in compromise filed.
As soon as you receive any IRS correspondence call us today for a free initial tax consultation.
We are a full-service firm that provide affordable individual payroll tax representation that can give you options to resolve any business tax situation or problem.
IRS Payroll Taxes Representation + Resolve Business Tax Debt + STOP IRS NOW
by Jim Magary | Mar 22, 2016 | Tax Help
We are the affordable professional tax firm, since 1982 that can fully resolve settle your Payroll Tax Debt!
As former IRS agents we have prepared many back tax returns when few records are available.
We know the system inside and out.
We have over 65 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service. as a former IRS agent in teaching instructor I worked the offer in compromise program.
I accepted offers in compromise for the United States Department of the Treasury and was a teaching instructor for the program as well.
Do you have Unfiled Back Payroll Tax Returns?
Payroll taxes are a concern for Internal Revenue Service because these taxes are actually trust fund taxes, that is, a company holds these taxes for the benefit of the government.
When these taxes are not paid a red flag is raised and IRS makes every possible effort to collect these payroll taxes and go after the responsible individuals whose job it was to collect and turn over these back taxes.
IRS we use every avenue of enforced collections to do so. I should know, I am a former revenue officer who used to work these cases and I know the very best tax defense.
We can go ahead and file all your unfiled payroll tax returns and settle your debt all at the same time.
It is critical that you understand that you do not want IRS the filed your tax return for you.
Under 6020 B of the Internal Revenue Code, the IRS has the right to prepare your back payroll tax returns if you do not voluntarily file them. this will be nothing but trouble for you.
IRS can set up a personal assessment against you and collect the tax as though you owe individual income taxes. Yes you can be held personally responsible for the back payroll taxes. You can be subject to tax levies and tax liens.
Personal Responsibility for Payroll Taxes, BEWARE.
If the IRS has found you a responsible person for the trust fund penalty, call us today for free initial tax consultation and we will walk you through the process of resolving this tax at once and for all.
As former IRS agents we set up trust fund penalties against responsible persons for corporations or businesses that owed back payroll taxes.
If a company can no longer pay their back payroll taxes, the Internal Revenue Service has the right under 6672 to set up the trust fund debt against those who are held responsible. This is called the trust fund penalty.
Who Can Be Responsible for the Trust Fund Taxes, code section 6672. Can it Be You?
- An officer or an employee of a corporation;
- A member or employee of a partnership;
- A corporate director or shareholder or member;
- A member of a board of trustees of a nonprofit organization, or anyone deemed to be responsible;
- Other persons with authority and who had control over funds to direct their disbursement;
- Those who willfully and with full knowledge chose not to pay the payroll tax liability.
You’ll know if you are one of these persons because you will receive IRS form 2751 & 1153 indicating a proposed notice of assessment against you.
There are various options available. As soon as we review your case we can instantly tell you ways to help resolve your problem.
Being former IRS agents and managers we know every possible solution to remedy this tax debt. We can resolve and possibly reduce your tax obligation.
There are various options you have for tax relief:
The basic options include:
1. trust fund appeals, the possibility of an offer in compromise, doubt to liability,
2.hardships, or currently not collectible,
3. payments plan, and
4. the offer in compromise, if you are a qualified and suitable candidate.
The Process of Getting IRS Tax Debt Relief on Trust Fund Tax Debt
We need to look to find out if you were truly responsible under 6672 of the IRS code. many time IRS ram rods these penalties to people who truly were not responsible for trust fund taxes.
I’ve work so many cases and being a former IRS agent IRS just tries to set these penalties up against everybody and many people do not have proper representation to fight IRS.
We will carefully review your case to find out if you were truly responsible for the trust fund penalty.
We will conduct a review to find out if there is any way that we can appeal for change the assessment of this trust fund tax.
If we feel we would’ve beat this assessment through the appellate process we can go ahead and file an offer in compromise as to doubt as to liability and appeal this assessment.
If you are responsible for the tax, IRS will take a current financial statement and make a determination based on the collectibility of the tax.
How the Internal Revenue Service will work your case if you owe back payroll IRS tax debt.
IRS will require a 433A or 433F, an individual financial statement. If your business is still in operation the IRS will require the business financial statement as well which is the 433B.
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 has the option to:
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 placed 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 to settle your Payroll or Individual Tax Debt?
IRS accepts 38% of all offers in compromise filed. The best way to get an offer in compromise accepted is through a tax professional who understands the process.
Not everyone is eligible for the program so do not give a fee to a firm unless you are qualified for the offer in compromise program.
It is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than 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 than 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:
1• 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.
2• Second, the IRS can accept a compromise if there is doubt that the amount owed is fully collectible. Doubt as to collectibility exists in any case where the taxpayer’s assets and income are less than the full amount of the tax liability.
3• 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 collectibility 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 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 instructor of the offer in compromise.
When IRS works an offer in compromise the agent working the case as a general rule will spend at least 20 to 30 hours of working time from start to finish on a completed offer.
If you have on unfiled payroll tax returns, call us today for free initial tax consultation.
We can file your unfiled tax returns and workout tax settlement all at the same time. remember, give your no money to any firm unless you believe they are fully qualified to work your case. Ask questions and check out their rating on the BBB.
Settle Payroll Tax Debt + Offer in Compromise + Former IRS
by Jim Magary | Mar 22, 2016 | Tax Help
We can prepare all delinquent payroll taxes and settle your case all at the same time. We are the affordable professional tax firm, since 1982.
We know the system inside and out.
We have over 65 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service.
We have worked as managers, supervisors and teaching instructors.
Delinquent Back Payroll Tax Returns & Tax Filings
Delinquent Payroll taxes are a concern for Internal Revenue Service because these taxes are actually trust fund taxes, that is, a company holds these taxes for the benefit of the government.
When these taxes are not paid a red flag is raised and IRS makes every possible effort to collect these payroll taxes and go after the responsible individuals whose job it was to collect and turn over these back taxes.
IRS we use every avenue of enforced collections to do so. I should know, I am a former revenue officer who used to work these cases and I know the very best tax defense.
We can go ahead and file all your unfiled payroll tax returns and settle your debt all at the same time.
It is critical that you understand that you do not want IRS the filing your tax delinquent tax returns for you.
Under 6020 B of the Internal Revenue Code, the IRS has the right to prepare your back payroll tax returns if you do not voluntarily file them. this will be nothing but trouble for you.
IRS can set up a personal assessment against you and collect the tax as though you owe individual income taxes. Yes you can be held personally responsible for the back payroll taxes. You can be subject to tax levies and tax liens.
Personal Responsibility for Payroll Taxes, BEWARE.
If the IRS has found you a responsible person for the trust fund penalty, call us today for free initial tax consultation and we will walk you through the process of resolving this tax at once and for all.
As former IRS agents we set up trust fund penalties against responsible persons for corporations or businesses that owed back payroll taxes.
If a company can no longer pay their back payroll taxes, the Internal Revenue Service has the right under 6672 to set up the trust fund debt against those who are held responsible. This is called the trust fund penalty.
Who Can Be Responsible for the Trust Fund Taxes, code section 6672. Can it Be You?
The usual suspects found liable by IRS are usually those that were:
- An officer or an employee of a corporation;
- A member or employee of a partnership;
- A corporate director or shareholder or member;
- A member of a board of trustees of a nonprofit organization, or anyone deemed to be responsible;
- Other persons with authority and who had control over funds to direct their disbursement;
- Those who willfully and with full knowledge chose not to pay the payroll tax liability.
You’ll know if you are one of these persons because you will receive IRS form 2751 & 1153 indicating a proposed notice of assessment against you.
There are various options available. As soon as we review your case we can instantly tell you ways to help resolve your problem.
Being former IRS agents and managers we know every possible solution to remedy this tax debt. We can resolve and possibly reduce your tax obligation.
There are various options you have for delinquent ax relief:
The basic options include:
1. trust fund appeals, the possibility of an offer in compromise, doubt to liability,
2.hardships, or currently not collectible,
3. payments plan, and
4. the offer in compromise, if you are a qualified and suitable candidate.
5. bankruptcy is another option.
The Process of Getting IRS Tax Debt Relief on Trust Fund Tax Debt
We need to look to find out if you were truly responsible under 6672 of the IRS code. many time IRS ram rods these penalties to people who truly were not responsible for trust fund taxes.
I’ve work so many cases and being a former IRS agent IRS just tries to set these penalties up against everybody and many people do not have proper representation to fight IRS.
We will carefully review your case to find out if you were truly responsible for the trust fund penalty.
We will conduct a review to find out if there is any way that we can appeal for change the assessment of this trust fund tax.
If we feel we would’ve beat this assessment through the appellate process we can go ahead and file an offer in compromise as to doubt as to liability and appeal this assessment.
If you are responsible for the tax, IRS will take a current financial statement and make a determination based on the collectibility of the tax.
How the Internal Revenue Service will work your case if you owe back payroll IRS tax debt.
I
RS will require a 433A or 433F, an individual financial statement.
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 will close your case by:
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 placed 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 rrequires a lot of skill and expertise to have accepted by the Internal Revenue Service.
Help Negotiate IRS Delinquent Payroll Taxes, Settlements, Tax Filings + Former IRS
by Jim Magary | Mar 22, 2016 | Tax Help
We can prepare all unfiled payroll taxes and settle your unpaid taxes all at the same time. We are the affordable professional tax firm, since 1982. FORMER IRS AGENTS AND MANAGERS
With or without records we can prepare back unfiled payroll or unfiled individual tax returns and settle your unpaid taxes all at the same time.
We know the system inside and out.
We have over 65 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service.
We have worked as managers, supervisors and teaching instructors.
Unfiled Back Payroll Tax Returns
Payroll taxes are a concern for Internal Revenue Service because these taxes are actually trust fund taxes, that is, a company holds these taxes for the benefit of the government. these taxes are so called the trust fund taxes, simply because they are held in trust for a period of time and then turned over to the government.
When these taxes are not paid a red flag is raised and IRS makes every possible effort to collect these payroll taxes and go after the responsible individuals whose job it was to collect and turn over these back taxes.
IRS we use every avenue of enforced collections to do so. I should know, I am a former revenue officer who used to work these cases and I know the very best tax defense.
We can go ahead and file all your unfiled payroll tax returns and settle your debt all at the same time.
It is critical that you understand that you do not want IRS the to file back your tax returns for you.
Under 6020 B of the Internal Revenue Code, the IRS has the right to prepare your back payroll tax returns if you do not voluntarily file them. this will be nothing but trouble for you.
IRS can set up a personal assessment against you and collect the tax as though you owe individual income taxes. Yes you can be held personally responsible for the back payroll taxes. You can be subject to tax levies and tax liens.
Personal Responsibility for Payroll Taxes
If the IRS has found you a responsible person for the trust fund penalty, call us today for free initial tax consultation and we will walk you through the process of resolving this tax at once and for all.
As former IRS agents we set up trust fund penalties against responsible persons for corporations or businesses that owed back payroll taxes.
If a company can no longer pay their back payroll taxes, the Internal Revenue Service has the right under 6672 to set up the trust fund debt against those who are held responsible. This is called the trust fund penalty.
Who Can Be Responsible for the Trust Fund Taxes, code section 6672. Can it Be You?
The usual suspects found liable by IRS are usually those that were:
- An officer or an employee of a corporation;
- A member or employee of a partnership;
- A corporate director or shareholder or member;
- A member of a board of trustees of a nonprofit organization, or anyone deemed to be responsible;
- Other persons with authority and who had control over funds to direct their disbursement;
- Those who willfully and with full knowledge chose not to pay the payroll tax liability.
You’ll know if you are one of these persons because you will receive IRS form 2751 & 1153 indicating a proposed notice of assessment against you.
There are various options available. As soon as we review your case we can instantly tell you ways to help resolve your problem.
Being former IRS agents and managers we know every possible solution to remedy this tax debt. We can resolve and possibly reduce your tax obligation.
There are various options you have for unpaid tax relief:
The basic options include:
1. trust fund appeals, the possibility of an offer in compromise, doubt to liability,
2.hardships, or currently not collectible,
3. payments plan, and
4. the offer in compromise, if you are a qualified and suitable candidate.
5. bankruptcy is another option.
The Process of Getting IRS Tax Debt Relief on Trust Fund Tax Debt
We need to look to find out if you were truly responsible under 6672 of the IRS code. many time IRS ram rods these penalties to people who truly were not responsible for trust fund taxes.
I’ve work so many cases and being a former IRS agent IRS just tries to set these penalties up against everybody and many people do not have proper representation to fight IRS.
We will carefully review your case to find out if you were truly responsible for the trust fund penalty.
We will conduct a review to find out if there is any way that we can appeal for change the assessment of this trust fund tax.
If we feel we would’ve beat this assessment through the appellate process we can go ahead and file an offer in compromise as to doubt as to liability and appeal this assessment.
If you are responsible for the tax, IRS will take a current financial statement and make a determination based on the collectibility of the tax.
How the Internal Revenue Service will work your case if you owe back payroll IRS tax debt.
IRS will require a 433A or 433F, an individual financial statement.
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 has the option to:
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 placed 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.
Keep in mind if you owe back taxes and you have a refund the government will apply it toward your tax debt,
Other taxpayers file an offer in compromise to settle their case for pennies on the dollar. The offer in compromise rrequires a lot of skill and expertise to have accepted by the Internal Revenue Service.
Payroll Tax Debt + Unfiled Taxes, Unpaid Taxes = Fast Affordable Relief
