by Jim Magary | Feb 12, 2016 | Tax Help
We are a full service tax firm and experts who specialize in affordable IRS back tax debt relief. Since 1982.
We are composed of CPAs and former IRS agents, managers and teachings instructors that know the IRS system of resolving back IRS tax debt.
Not only were we former IRS agents and teaching instructors we also were on the job trainers for new IRS agents.
We lived this system for 10 years and understand the protocols, settlement theories and know every possible way to resolve back IRS tax debt.
How the process works.
As a general rule, certain facts of your case are pertinent to the resolution of your tax debt. Smaller cases may be treated differently than larger cases.
IRS has a variety of options available depending on the type of tax debt that you owe.
Factors IRS takes into account
A couple of factors IRS take into account are the dollar amount, your prior compliance history, and what you plan to do about resolving the back IRS Tax Debt.
As a general rule, the IRS will take a current financial statement on form 433F and they will want that financial statement completely documented along with bank statements, pay stubs, monthly income and expenses.
IRS will complete an analysis based on the national and regional standards of expenses in the area in which you live.
IRS has specified formulas and coming up with a solution to resolve your tax debt.
As a general rule, the IRS will either place your case into a currently non-collectible, ask for a monthly payment or installment agreement or let you know you could be considered for an offer in compromise. If you want to know about more about the offer in compromise program check our website.
When you call our office we will review with you every possible solution and let you know the most affordable and fastest way to resolve your back tax debt problem with the IRS.
It is important for you to know that all back tax returns will need to be filed before IRS will close their case.
Call us today for a free initial tax consultation and we will walk you through the process of how you can resolve your back IRS tax debt.
We have over 206 years of professional tax experience, 65 years of direct IRS work experience and resolved thousands of taxpayer issues and problems since 1982.
When you call our office you will speak not to a salesperson but to a true IRS tax expert who understands the process of how you can resolve your back tax debt.
How Can I Resolve My IRS Back Tax Debt + Speak To Former IRS Agents Who Know the System
by Jim Magary | Feb 12, 2016 | Tax Help
We are an affordable full service tax on that specializes in tax problems and tax debt, since 1982.
As former IRS agents and managers we know the system and have worked hundreds of cases of taxpayers who have their tax returns prepared by a tax preparer, those tax returns were messed up and false credits taken and now the taxpayer owes money.
If you owe back taxes IRS will probably place you in one of three categories after the review your case. You’ll either be placed in a currently not collectible status, asked to make monthly payments or you may be able to settle your tax debt.
Call us today for a free initial tax consultation and we will walk you through the process of this is happened to you.
There are different options depending on the circumstance and no two cases are the same.
We have over 206 years of professional tax experience in over 65 years of working directly for the Internal Revenue Service and the local, district, and regional tax offices of the IRS.
We are A+ rated by the Better Business Bureau.
Call us today for free initial tax consultation and speak to true IRS tax experts.
Someone Messed Up Your Tax Return and You Owe Money/Taxes
by Jim Magary | Feb 12, 2016 | Tax Help
We’re affordable professional tax firm that specializes in IRS tax debt. Since 1982.
IRS puts on federal tax liens as a last resort if taxpayers have not responded to IRS final notices.
The federal tax lien encumbers all real and personal property.
There different solutions to go ahead and remove the federal tax lien depending on your individual situation.
Call us today with will review with you your situation and give you an honest opinion of the most affordable and fastest solution you have to remedy the situation.
We know our business. We are former IRS agents and managers who specialize in IRS tax debt.
What if there is a federal tax lien on my home?
If there is a federal tax lien on your home, you must satisfy the lien before you can sell or refinance your home.
There are a number of options to satisfy the tax lien.
Normally, if you have equity in your property, the tax lien is paid (in part or in whole depending on the equity) out of the sales proceeds at the time of closing.
If the home is being sold for less than the lien amount, the taxpayer can request the IRS discharge the lien to allow for the completion of the sale.
Taxpayers or lenders also can ask that a federal tax lien be made secondary to the lending institution’s lien to allow for the refinancing or restructuring of a mortgage.
The IRS currently is working to speed requests for discharge or mortgage restructuring to assist taxpayers during this economic downturn.
To assist struggling taxpayers, the IRS plans to significantly increase the dollar thresholds when liens are generally filed.
The new dollar amount is in keeping with inflationary changes since the number was last revised.
Currently, liens are automatically filed at certain dollar levels for people with past-due balances. The IRS plans to review the results and impact of the lien threshold change in about a year.
Also, the IRS is making other fundamental changes to liens in cases where taxpayers enter into a Direct Debit Installment Agreement (DDIA).
Additionally, the IRS will modify procedures that will make it easier for taxpayers to obtain lien withdrawals.
Liens will now be withdrawn once full payment of taxes is made if the taxpayer requests it.
IRS Put A Tax Lien On Your Assets/House + Former Agents Have Solutions
by Jim Magary | Feb 12, 2016 | Tax Help
We are an AFFORDABLE full service tax firm that specializes in federal and state tax debt, since 1982.
We have over 206 years of professional tax experience and over 65 years of working directly for government agencies in the local, district, and regional tax offices of the IRS.
We know the system inside and out.
In addition to our years of experience at Internal Revenue Service we were teaching instructors, on-the-job instructors and taught new agents their jobs.
If you owe back federal or state tax debt the agency that is trying to collect the money will want a current financial statement and that financial statement will need to be fully documented. You will need to use the forms the agency is requesting. usually you will find those forms online on the agency’s website.
Included in that documentation will be bank statements and pay stubs along with a copy of all monthly income and expenses.
There are certain standards at both the state and federal agencies use to determine your style of living. Those standards become important in is important you understand how your current expenses play into the determination of your case.
As a general rule, there are three programs both the federal and state agencies will place you went after reviewing of your current financial statement.
Many the cases wind up into a tax hardship or a currently uncollectible status because taxpayer simply do not have the money to pay back taxes, others may enter into an installment payment to settle there back tax debt. while others may file for offer in compromise to settle there back tax debt.
Call us today for a free initial tax consultation and we can represent you for both the federal and state tax matter and permanently resolve your tax issues all a one time.
We are a full-service firm with all work being done in-house.
We have represented thousands of taxpayers across the country since 1982.
When you call our office you will speak to a true federal and state tax expert in any collection or audit matters. We also can prepare all and any and all back tax returns.
We are a full service tax firm with an expertise in IRS and state tax resolution.
Owe Federal & State Back Tax Debt + Settle All At One Time + Former Agents Know the System
by Jim Magary | Feb 12, 2016 | Tax Help
We are a AFFORDABLE full service tax firm that specializes in federal or state tax debt.
We have over 206 years of professional tax experience in over 65 years of working directly for government agencies in the local, district, and regional tax offices.
All work is done in-house.
You can call us today for a free initial tax consultation to learn the truth about your case.
What You Need to Know If You Owe Use Tax?
You may owe use tax on purchases you made from out-of-state or Internet sellers. Use tax is similar to the sales tax paid on purchases you make in California.
You may report use tax on your income tax return instead of filing a use tax return with the State Board of Equalization.
To report use tax on your income tax return, you may use either the Use Tax Worksheet or the Use Tax Lookup Table. Both are included in the tax booklet instructions.
You must pay California use tax when you purchase out-of-state items by telephone, Internet, mail, or in person and both of the following apply:
• The seller does not collect California sales or use tax.
• You use, give away, store, or consume the item in this state.
Use Tax Worksheet
When you choose to use the following Use Tax Worksheet method to determine the amount of use tax you owe:
1. Add the amount of all purchases made from out-of-state or Internet sellers made without payment of California Sales/Use tax. Include only items on which you would have paid sales tax if you had purchased them in California. See the Board of Equalization website for more information on taxable items.
2. Look up the use tax rate for the location where you used, gave away, stored, or consumed the items you purchased.
3. Multiply the amount by the use tax rate.
4. If the Use Tax Lookup Table is used to estimate individual purchases less than $1,000, add the amount from the table.
5. Subtract any sales or use tax you paid to another state for the items you purchased.
6. Enter this amount.
If you have a combination of individual items purchased for $1,000 or more and/or items purchased for use in a trade or business not registered with the Board of Equalization, and individual, non-business items purchased for less than $1,000, you may either:
• Use the Use Tax Worksheet to compute use tax due on all purchases, or
• Use the Use Tax Worksheet to compute use tax due on all individual items purchased for $1,000 or more plus items purchased for use in a trade or business not registered with the Board of Equalization, and use the Estimated Use Tax Lookup Table to estimate the use tax due on individual, non-business items purchased for less than $1,000, then add the amounts.
Use Tax Lookup Table
Instead of reporting your use tax liability using the Use Tax Worksheet you can use the Use Tax Lookup Table. The table allows individuals who are not required to hold a California Seller’s Permit or a Consumer Use Tax account, to report their use tax due based on their California Adjusted Gross Income (AGI).
The table can only be used for individual purchases less than $1,000. Individual purchases of $1,000 or more must be calculated separately using the use tax worksheet.
Items to Report Directly to the Board of Equalization
Report use tax due on the following items directly to the Board of Equalization. Do not report it on your income tax return.
• Vehicles, vessels, and trailers that must be registered with the Department of Motor Vehicles.
• Mobile homes or commercial coaches that must be registered annually as required by the Health and Safety Code.
• Vessels documented with the U.S. Coast Guard.
• Aircraft.
• Leases of machinery, equipment, vehicles, and other tangible personal property.
If you owe use tax for prior years
The Board of Equalization has established a voluntary use tax liability disclosure program for in-state qualified purchasers who wish to acknowledge their liability for California use tax.
By voluntarily coming forward to the Board of Equalization under this program, you may be able to limit your liability for tax, penalties, and interest due for prior periods.
Please Note:
If you traveled to a foreign country and brought items back to California, generally the use tax is due on the purchase price of the goods you listed on your U.S. Customs Declaration less the $800 per-person exemption.
This $800 exemption does not apply to goods sent or shipped to California by mail or other common carrier.
If your filing status is “Married/RDP Filing Separately”, you may elect to report one-half of the use tax due or the entire amount on your income tax return.
If you elect to report one-half, your spouse may report the remaining half on his or her income tax return or on the individual use tax return available from the State Board of Equalization.
Call us today for free initial tax consultation.
Do You Owe Use Tax? California State Board of Equalization = Settle Your Tax Debt
by Jim Magary | Feb 11, 2016 | Tax Help
We are a full service tax firm that specializes in federal and state tax matters especially those who have California business tax problems. Since 1982.
We can help any taxpayer that has 941 federal tax issues as well as the state of California
We have over 206 years of professional tax experience in over 65 years of working directly for the government in the local, district, and regional tax offices.
We are A+ rated by the Better Business Bureau has been practicing our professional craft since 1982.
In California payroll taxes are administered by the California Employment Development Department also know as the EDD.
Many of the issues that arise in the state of California are due to the classification problems that is employees or independent contractors.
The IRS form SS8 is a comprehensive list of questions that employers can find out whether people who work for them are employees or independent contractors.
Below you will find some of the questions that may relate to employee or independent contractors.
How did the worker obtain the job (bid, application, employment agency, or other
Description of the work done by the worker
Explanation of why you believe the worker is an employee or independent contractor
:
Training and instructions
Type Work assignments
Problems and complaints
Daily routine of person
Substitutes or helpers
Specific questions to determine financial control; for example:
Who provides supplies and materials
Who provides leased equipment
Are worker expenses reimbursed
Type of pay received (salary, commission, hourly wage, piece work, lump sum, or other
Who does the customer pay
Who have ultimate control of the person.
Economic loss/financial risk for worker, right to control time in hours.
Ability to hire and fire
The IRS generally applies a 20 factor test.The SS8 form will give you the the questions.
Usually, the California Employment Development Department focuses more on the right of the principal to control the manner, mode, method and means of performing the details of the work.
Is there fraud involved?
Some California payroll tax audits can lead to a finding of payroll tax fraud by the EDD or the IRS auditors if both Agencies are involved. As a former IRS revenue officer I referred more than one Corporation for payments in cash or people off the books and records.
should you have questions or concerns call us today for a free initial tax consultation and we will walk you through the process of California or federal payroll tax problems.
