by Fresh Start Tax | Feb 28, 2020 | Tax Help
As a former IRS agent, here is the relative info you need to know about the federal tax lien, stay informed.
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.
Rules for a tax lien.
A federal tax lien exists after:
The IRS:
1. Puts your balance due on the books (assesses your liability);
2. 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.
KEY: notice and demand must be given.
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.
Different Ways to REMOVE a Federal Tax Lien
Paying your tax debt – in full – is the best way to get rid of a federal tax lien. The IRS releases your lien within 30 days after you have paid your tax debt.
When conditions are in the best interest of both the government and the taxpayer, other options for reducing the impact of a lien exist.
Discharge of property from the Federal Tax Lien
What is a Discharge When it Comes to IRS Tax Liens?
The discharge of an IRS tax lien removes the lien from a specific piece of property. If you apply for a lien discharge and the IRS grants your request, you can sell or refinance the property named in your certificate of discharge.
Without the lien discharge, anyone who buys your property takes it subject to the IRS tax lien. If someone buys your home, the buyer would not be responsible for your delinquent tax debt.
However, the IRS could still seize the property. The tax lien will drive away any potential buyers because they won’t want to be responsible for your tax problems.
When you apply for a tax lien discharge, you will have to show the IRS that you are willing to protect their interests. If you have several valuable assets subject to the lien, the IRS may grant a lien discharge for one piece of property. The lien still stands against all other properites.
What Happens When the IRS Discharges a Tax Lien?
You will receive a certificate of discharge that removes the IRS tax lien from your property. But this discharge only applies to the property named in the certificate.Remember, only that property.
If you receive a lien discharge, two things will NOT be affected:
1. You will still owe your back taxes to the IRS, including any penalties and interest.
2. The IRS tax lien will still cover all property other than the assets named explicitly in the lien discharge.
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, see Instructions on:
How to Apply for Certificate of Discharge From Federal Tax Lien (PDF) and the video Selling or Refinancing when there is an IRS Lien.
IRS Subordination
“Subordination” does not remove the lien, but allows other creditors to move ahead of the IRS, which may make it easier to get a loan or mortgage.
To determine eligibility, refer to Publication 784, Instructions:
On How to Apply for a Certificate of Subordination of Federal Tax Lien (PDF) and the video Selling or Refinancing when there is an IRS Lien.
Why and How to Apply for a Federal Tax Lien Subordination
An IRS tax lien encumbers all of your property, even if you aren’t aware that the tax lien exists.
The tax lien is not an immediate collection action. You still get to keep the property subject to one, but you may not be able to sell or refinance the property unless you eliminate the tax lien.
Other popular options pertain to requesting a lien discharge or lien subordination.
A tax lien discharge completely removes the lien from a specific piece of property.
A Federal tax lien subordination keeps the tax lien in place but permits another creditor to move ahead of the IRS in priority. Consequently, it may allow you to get a loan or refinance your mortgage.
What is a Subordination When it Comes to IRS Tax Liens?
When you get a loan, some creditors take a security interest in your property. The most common example is a mortgage, where a creditor takes a security interest in your home.
If you don’t pay your mortgage, the security interest gives the creditor the right to foreclose on your home. Your home becomes the collateral to the lender.
Several creditors can have a security interest in the same property, but their interests are ranked according to priority.
Your first mortgage lender would have a higher priority than a second mortgage lender, which means that they get paid first from the proceeds of a foreclosure auction.
If you have an IRS tax lien on your property, that lien will take priority over any loans you receive after the tax lien exists.
Creditors may not wish to give you a second mortgage loan because their security interest will be inferior to the IRS tax lien interest.
An IRS tax lien subordination is an agreement that allows a new creditor to move ahead of the IRS in priority.
The IRS tax lien will remain on the property. However, it will have a lower position than the new lender’s security interest.
What Happens If the IRS Subordinates a Tax Lien?
The IRS will issue you a Certificate of Subordination.
It permits a junior creditor to move ahead of the IRS tax lien in priority.
However, the IRS tax lien remains in place on this priority.
The tax lien also stays in place on all of your other real and personal property, and you still owe your tax liability in full, including interest and penalties.
An IRS lien subordination does not solve your tax debt problems. But it could allow you to get a loan or refinance your home, which could free up more money to pay off your tax debt.
You may want to talk to a tax professional about what you can do to reduce your tax debt.
Why Would a Taxpayer Want to Subordinate A Federal Tax Lien?
You may not be able to get a loan or refinance an existing mortgage while the IRS tax lien is in place. If you get a Certificate of Subordination, then a creditor may be willing to extend credit.
You may wish to get a second mortgage loan and use the money to pay off your tax debt, or you could refinance your existing mortgage to lower your monthly mortgage payments. A tax lien subordination can also apply to assets besides your home, including business property.
If you want to sell the property encumbered by the IRS tax lien, a lien subordination probably won’t help. You may have to request a discharge of an IRS tax lien to complete the sale.
How Can a Taxpayer Request a Federal Tax Lien Subordination?
Apply for a certificate of subordination of federal tax lien by following the instructions in Pub 784. You will need to complete Form 14134.
It is important to apply at least 45 days before a loan settlement conference.
If you need assistance, contact a tax professional for help completing and filing the form and the necessary attachments.
You will need to provide the IRS a basis for subordinating the lien. The IRS will only agree to the lien subordination if it is in their best interests.
There are two main reasons that the IRS will agree to issue you a certificate of subordination:
- One.The IRS may subordinate the tax lien if you agree to pay them an amount equal to the interest they are subordinating.
- Two. The IRS may subordinate their interest if it increases the amount they will realize.
Can You Appeal a Denial of a Request for a Subordination?
You have appeal rights after a denial of a request for lien subordination. You may first attempt to talk to the manager of the IRS employee who denied your request. If they don’t grant your request or respond to your inquiry, you can submit a CDP using form 9423.
Contact a tax professional for help filing your lien subordination request. If the IRS grants your application, you could improve your financial situation and get closer to paying off your tax debt. For estate tax liens (not discussed above), use Form 4422 if selling, or Publication 1153 if you are refinancing.
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 the Federal Tax Lien Affects Taxpayers
• 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.
Lien vs. Levy
A lien is not a levy. A lien secures the government’s interest in your property when you don’t pay your tax debt. A levy actually takes the property to pay the tax debt. If you don’t pay or make arrangements to settle your tax debt, the IRS can levy, seize and sell any type of real or personal property that you own or have an interest in.
Help Resources
Centralized Lien Operation — To resolve basic and routine lien issues: verify a lien, request lien payoff amount, or release a lien, call 800-913-6050 or fax 855-753-8177.
Collection Advisory Group — For all complex lien issues, including discharge, subordination, subrogation or withdrawal; find contact information for your local advisory office in Publication 4235, Collection Advisory Group Addresses (PDF).
Office of Appeals — Under certain circumstances you may be able to appeal the filing of a Notice of Federal Tax Lien. For more information, see Publication 1660, Collection Appeal Rights (PDF).
Taxpayer Advocate Service — For assistance and guidance from an independent organization within IRS, call 877-777-4778.
Centralized Insolvency Operation — If you are questioning whether your bankruptcy has changed your tax debt, call 800-973-0424.
About the Lien
The Internal Revenue Service routinely files federal liens against taxpayers who have unpaid tax obligations. A federal tax lien is a document that goes on record with a county government, usually where the taxpayer lives or conducts business, notifying the general public that the taxpayer has an unpaid federal tax debt. Liens attach to the taxpayer’s real property or personal property.
What Does a Lien Do?
When property is sold while a lien is in effect against it, the IRS is paid out of the sales proceeds before the taxpayer receives any money. The lien becomes a matter of public record when it’s filed. Liens record the full amount owed to the IRS.
Some people use the words “lien” and “levy” interchangeably, but liens are different from levies. A tax lien is a document filed by the IRS to protect the government’s ability to collect money, while a levy is the forced collection of tax, usually by confiscating money directly out of a bank account or paycheck.
Notifying Taxpayers That a Lien Has Been Filed
The IRS generally notifies taxpayers after a federal tax lien has already been filed. The IRS will send taxpayers a Notice of Federal Tax Lien. Federal liens are effective 10 days after the IRS issues a written demand for payment of outstanding taxes.
Preventing a Lien
Federal tax liens can be prevented by paying the tax in full before a lien is filed by the IRS. Liens can also be prevented by setting up an installment agreement with the IRS that meets certain requirements. The IRS will not file a federal tax lien if a taxpayer sets up either a guaranteed installment agreement or a streamlined installment agreement.
These types of installment agreements require that the outstanding balance be $10,000 or less in the case of a guaranteed installment agreement, or $25,000 or less in the case of a streamlined installment agreement.
If a taxpayer owes more than $25,000, a lien can be prevented if the taxpayer pays down the balance so it’s $25,000 or less and he can establish a streamlined installment agreement.
Removing a Lien
The IRS will remove a federal tax lien if the lien was filed in error, when the outstanding balance is paid in full, or if the outstanding balance is otherwise satisfied, such as through a successful offer in compromise. It will also remove the lien if it becomes unenforceable. This can happen if it’s expired due to the 10-year statute of limitations.
There are two basic ways to remove a federal tax lien: withdrawal and release.
Withdrawing a Federal Tax Lien
Withdrawing a federal tax lien means the IRS will rescind the lien as if it was never filed in the first place. Lien withdrawals generally occur when the tax lien was filed in error, such as against the wrong taxpayer.
Contact the IRS right away if a lien was filed against you in error. An IRS agent will review your account history to verify that you don’t owe the outstanding tax and will prepare the paperwork necessary to withdraw it.
The IRS has instituted a Fresh Start Program under which taxpayers might be eligible for lien withdrawal provided certain criteria are met.
Releasing a Federal Tax Lien
Releasing a federal lien means that the lien no longer encumbers your property. County records will be updated to reflect that the lien has been released. Liens are released within 30 days of full payment of the outstanding tax obligation, or upon setting up a guaranteed or streamlined installment agreement.
Less frequently, the IRS might release a federal tax lien if it will speed up the collection of tax or if it’s in the best interests of the taxpayer and the government. But most federal tax liens are automatically released by the IRS after full payment of the tax owed.
Under the Fresh Start Program, taxpayers can be eligible for lien release if their outstanding balance is under $25,000.
You might consider bringing your balance under $25,000 by transferring some or all of your tax to a credit card or home equity line, or by making payments to bring your balance under the $25,000 threshold.
WHAT YOU NEED TO KNOW ABOUT THE FEDERAL TAX LIEN, former irs agent
by Fresh Start Tax | Feb 27, 2020 | Tax Help
A Limited Liability Company (LLC) is a business structure allowed by state statute.
Each state may use different regulations, you should check with your state if you are interested in starting a Limited Liability Company.
Owners of an LLC are called members.
Most states do not restrict ownership, so members may include individuals, corporations, other LLCs and foreign entities.
There is no maximum number of members.
Most states also permit “single-member” LLCs, those having only one owner.
A few types of businesses generally cannot be LLCs, such as banks and insurance companies. Check your state’s requirements and the federal tax regulations for further information. There are special rules for foreign LLCs.
Classifications
Depending on elections made by the LLC and the number of members, the IRS will treat an LLC as either a corporation, partnership, or as part of the LLC’s owner’s tax return (a “disregarded entity”). Specifically, a domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832 and affirmatively elects to be treated as a corporation.
For income tax purposes, an LLC with only one member is treated as an entity disregarded as separate from its owner, unless it files Form 8832 and elects to be treated as a corporation.
However, for purposes of employment tax and certain excise taxes, an LLC with only one member is still considered a separate entity.
Effective Date of Election
An LLC that does not want to accept its default federal tax classification, or that wishes to change its classification, uses Form 8832, Entity Classification Election (PDF), to elect how it will be classified for federal tax purposes.
Generally, an election specifying an LLC’s classification cannot take effect more than 75 days prior to the date the election is filed, nor can it take effect later than 12 months after the date the election is filed. An LLC may be eligible for late election relief in certain circumstances.
by Fresh Start Tax | Feb 27, 2020 | Tax Help
Owe IRS Trust Fund Recovery Tax Debt? We Can Offer Tax Relief Solutions With Former IRS Agents, Revenue Officers. We are affordable tax experts in tax problems with the IRS & State. Since 1982.
We can handle anything from a simple IRS notice or letter, tax representation at all levels filing of back tax returns including appellate and Tax Court.
We have over €200 professional tax experience and over 100 years of working directly for the Internal Revenue Service and the local, district, and regional tax offices of the IRS.
As former IRS Agents, we both worked and taught the IRS tax debt settlement programs.
The Internal Revenue Service will individually engage those responsible under section 6672 of the Internal Revenue Code. This is the Trust Fund Tax Assessment.
Once these assessments are made, IRS collects the funds as if personal taxes are owed and the same procedures are followed.
We also are specialists for appeals and abatments.
Tax Debt Options for Settling Back IRS Trust Fund Recovery Tax Debt
There are three basic ways that taxpayers settle their current tax situation for back taxes with the Internal Revenue Service.
There are different ways to settle IRS tax debt and there are generally three programs that the taxpayer can qualify for to pay back taxes owed to IRS.
1. The first is a hardship or currently non-collectible program.
There is good news and bad news about this program. After IRS takes a current documented financial statement, IRS may determine you are not collectible at the current time. IRS will suspend your case for a period of 1 to 3 years and put a freeze on it.
The good news is IRS’s off your back for a couple of years and the bad news is penalties and interest still run on it.
Taxpayer should also be aware that the case will come out every couple of years to be reviewed. Its only a part time fix.
2. The second program is the installment agreement or monthly payment.
After IRS takes a current financial statement they will determine how much money they expect from you on a monthly basis. IRS has certain national standards test that they use to determine if the taxpayer will be placed into a payment agreement.
You can find the national standards on our site.
3. The third way to sell your debt is to qualify for an offer in compromise, this is where you can settle your debt for pennies on the dollar. it’s important for taxpayers to understand that not all are eligible for the offer in compromise program.
FACTS:
* There are 78,000 offers filed each year,
* 38% usually approved,
* The average tax debt settlement $9500.
Before you get excited, there is a pre-qualifier tool.
I suggest everyone who wants to go the route was the direction of the offer make sure they are truly qualified before wasting time and money.
As a former IRS agent I taught the offer in compromise program at the IRS. I can tell you within seconds of your settlement candidate.
After review of your current financial statement we will let you know which of the program to qualify for and start to remove IRS out of your life and help pay back taxes.
Call us today for free initial tax consultation and we will walk you through the process and tell you how many years you have to file and let you know the different tax strategies based on your current financial conditions. <><
You will never have to speak to the Internal Revenue Service, ever. We handle all the communication.
Feel free to call us by voice or Skype us directly.
We are a full-service firm with all work being done in-house.
When you call our office you will speak to a true tax professional and not a salesperson.
We know the system inside and out and have saved thousands of dollars for clients over the years.
IRS Trust Fund Recovery + Tax Debt Help + Abatement’s + IRS Appeals + Former IRS Agents, Since 1982
by Fresh Start Tax | Feb 27, 2020 | Tax Help
We are affordable professional Christian IRS tax lawyers, Christian IRS tax attorneys, Christian CPA’s, Christian former IRS agents. We are payroll and trust fund tax specialists. <><
We are affordable tax experts in tax problems with the IRS & State.
We can handle anything from a simple IRS notice or letter, tax representation at all levels filing of back tax returns including appellate and Tax Court.
We have over €200 professional tax experience and over 100 years of working directly for the Internal Revenue Service and the local, district, and regional tax offices of the IRS.
As former IRS Agents, we both worked and taught the IRS tax debt settlement programs and are seasoned experts in payroll, the trust fund penalty law and application.
We are a group of Christian Tax of Professionals, Lawyers, Attorneys, CPA’s, Former IRS Agents.
Reminders from Scripture for advice:
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Fools have no interest in understanding; they only want to offer their own opinions.
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Resolve IRS BACK 941 PAYROLL TAXES & Trust Fund Taxes
“Being a former IRS agent and teaching instructor you should understand that the Internal Revenue Service is tougher on payroll taxes than any other taxes.”
WHY ? The reason for this is very simple, this tax is money held in trust in not an actual tax.
It is one of few taxes that the Internal Revenue Service not only go after the company it can in addition can go after the responsible persons or individuals.
This is a tax that you should not fool around with because it is number one on the IRS to hit list.
The Internal Revenue Service will individually engage those responsible under section 6672 of the Internal Revenue Code
We should be able to make sure we can reach a reasonable settlement on your payroll tax liability and you can continue to operate your business without fear and worry from the Internal Revenue Service.
IRS does not want to seize your business for back taxes due on payroll taxes, however 941 payroll taxes are a big concern for the IRS.
The Process of receiving a IRS Payroll Tax Settlement
The Internal Revenue Service will want to fully review your company or corporation before you can obtain in IRS payroll tax settlement. You will need to provide IRS with the current financial statement along with proof that all payroll tax deposits and 941 tax forms have been filed.
Many times IRS will want a personal or individual financial statement for more responsible persons. For most company’s of the IRS payroll tax settlement may come in three forms.
IRS will review your current financial statement Internal Revenue Service may determine that you are a hardship candidate, monthly payment agreement candidate or an offer in compromise candidate and IRS payroll settlement.
IRS Payroll Taxes:
Steps to take to work out an affordable payment plan with the Internal Revenue Service:
1. Immediately stay current on all payroll tax deposits to show the IRS good faith;
2. Be prepared to give the IRS a current financial statement;
3. Make sure your personal tax liabilities are filed and paid;
4. Have all documentation on the financial statement prepared for the IRS.
If you do not pay your Payroll Taxes IRS can collect them from you individually!
To encourage prompt payment of withheld income and employment taxes, including social security taxes, railroad retirement taxes, or collected excise taxes, Congress passed a law that provides for the TFRP.( trust fund recovery penalty )
These payroll taxes are called trust fund taxes because you actually hold the employee’s money in trust until you make a federal tax deposit in that amount.
The TFRP may apply to you if these unpaid trust fund taxes cannot be immediately collected from the business.
The business does not have to have stopped operating in order for the TFRP to be assessed
WHAT ARE TRUST FUND TAXES, the 6672 penalty
Who can be Responsible for the TFRP ?????
The TFRP may be assessed against any person who:
Is responsible for collecting or paying withheld income and employment taxes, or for paying collected excise taxes, and
Willfully fails to collect or pay them.
A responsible person is a person or group of people who has the duty to perform and the power to direct the collecting, accounting, and paying of trust fund taxes.
This person may be:
An officer or an employee of a corporation,
A member or employee of a partnership,
A corporate director or shareholder,
A member of a board of trustees of a nonprofit organization,
Another person with authority and control over funds to direct their disbursement,
Another corporation or third-party payer,
Payroll Service Providers (PSP) ore responsible parties within a PSP
Professional Employer Organizations (PEO) or responsible parties within a PEO, or
Responsible parties within the common law employer (client of PSP/PEO).
For wilfulness to exist, the responsible person:
Must have been, or should have been, aware of the outstanding taxes and either intentionally disregarded the law or was plainly indifferent to its requirements (no evil intent or bad motive is required).
Using available funds to pay other creditors when the business is unable to pay the employment taxes is an indication of willfulness. You will be asked to complete an interview in order to determine the full scope of your duties and responsibilities.
Responsibility is based on whether an individual exercised independent judgment with respect to the financial affairs of the business.
An employee is not a responsible person if the employee’s function was solely to pay the bills as directed by a superior, rather than to determine which creditors would or would not be paid.
Figuring the Trust Fund Amount
The amount of the penalty is equal to the unpaid balance of the trust fund tax. The penalty is computed based on:
The unpaid income taxes withheld, plus
The employee’s portion of the withheld FICA taxes. For collected taxes, the penalty is based on the unpaid amount of collected excise taxes.
Assessing the TFRP. If the IRS determines that you are a responsible person, we will provide you a letter stating that we plan to assess the TFRP against you. You have 60 days (75 days if this letter is addressed to you outside the United States) from the date of this letter to appeal our proposal.
The letter will explain your appeal rights. Refer to Publication 5, Your Appeal Rights and How to Prepare a Protest if You Don’t Agree (PDF), for a clear outline of the appeals process.
If you do not respond to our letter, we will assess the penalty against you and send you a Notice and Demand for Payment.
Once we assert the penalty, the IRS can take collection action against your personal assets. For instance, we can file a federal tax lien or take levy or seizure action.
Call us today for a free tax consult.<><
Help, Trust Fund Tax Specialists + Christian Tax Attorneys, Tax Lawyers, CPA’s, Former IRS Agents
by Fresh Start Tax | Feb 26, 2020 | Tax Help
Have unpaid IRS payroll taxes? Have trust Fund issues? We Can Offer Tax Relief Solutions. We are Former IRS Agents, Revenue Officers. We are affordable tax experts for all tax problems.
We can handle anything from a simple IRS notice or letter, tax representation at all levels filing of back tax returns including appellate and Tax Court.
We have over €200 professional tax experience and over 100 years of working directly for the Internal Revenue Service and the local, district, and regional tax offices of the IRS.
As former IRS Agents, we both worked and taught the IRS tax debt settlement programs.
The Internal Revenue Service will individually engage those responsible under section 6672 of the Internal Revenue Code. This is the Trust Fund Tax Assessment.
Once these assessments are made, IRS collects the funds as if personal taxes are owed and the same procedures are followed.
Tax Debt Options for Settling Back IRS Trust Fund Debt
There are three basic ways that taxpayers settle their current tax situation for back taxes with the Internal Revenue Service.
There are different ways to settle IRS tax debt and there are generally three programs that the taxpayer can qualify for to pay back taxes owed to IRS.
1. The first is a hardship or currently non-collectible program.
There is good news and bad news about this program. After IRS takes a current documented financial statement, IRS may determine you are not collectible at the current time. IRS will suspend your case for a period of 1 to 3 years and put a freeze on it.
The good news is IRS’s off your back for a couple of years and the bad news is penalties and interest still run on it.
Taxpayer should also be aware that the case will come out every couple of years to be reviewed. Its only a part time fix.
2. The second program is the installment agreement or monthly payment.
After IRS takes a current financial statement they will determine how much money they expect from you on a monthly basis. IRS has certain national standards test that they use to determine if the taxpayer will be placed into a payment agreement.
You can find the national standards on our site.
3. The third way to sell your debt is to qualify for an offer in compromise, this is where you can settle your debt for pennies on the dollar. it’s important for taxpayers to understand that not all are eligible for the offer in compromise program.
FACTS:
* There are 78,000 offers filed each year,
* 38% usually approved,
* The average tax debt settlement $9500.
Before you get excited, there is a pre-qualifier tool.
I suggest everyone who wants to go the route was the direction of the offer make sure they are truly qualified before wasting time and money.
As a former IRS agent I taught the offer in compromise program at the IRS. I can tell you within seconds of your settlement candidate.
After review of your current financial statement we will let you know which of the program to qualify for and start to remove IRS out of your life and help pay back taxes.
Call us today for free initial tax consultation and we will walk you through the process and tell you how many years you have to file and let you know the different tax strategies based on your current financial conditions. <><
You will never have to speak to the Internal Revenue Service, ever. We handle all the communication.
Feel free to call us by voice or Skype us directly.
We are a full-service firm with all work being done in-house.
When you call our office you will speak to a true tax professional and not a salesperson.
We know the system inside and out and have saved thousands of dollars for clients over the years.
Help, Unpaid IRS Payroll Taxes and Trust Fund Penalty Assessments + Free Consults, Former IRS Agents
by Fresh Start Tax | Feb 26, 2020 | Tax Help
Owe IRS Trust Fund Tax Debt? We Can Offer Tax Relief Solutions With Former IRS Agents, Revenue Officers. We are affordable tax experts in tax problems with the IRS & State. Since 1982.
We can handle anything from a simple IRS notice or letter, tax representation at all levels filing of back tax returns including appellate and Tax Court.
We have over €200 professional tax experience and over 100 years of working directly for the Internal Revenue Service and the local, district, and regional tax offices of the IRS.
As former IRS Agents, we both worked and taught the IRS tax debt settlement programs.
The Internal Revenue Service will individually engage those responsible under section 6672 of the Internal Revenue Code. This is the Trust Fund Tax Assessment.
Once these assessments are made, IRS collects the funds as if personal taxes are owed and the same procedures are followed.
Tax Debt Options for Settling Back IRS Trust Fund Debt
There are three basic ways that taxpayers settle their current tax situation for back taxes with the Internal Revenue Service.
There are different ways to settle IRS tax debt and there are generally three programs that the taxpayer can qualify for to pay back taxes owed to IRS.
1. The first is a hardship or currently non-collectible program.
There is good news and bad news about this program. After IRS takes a current documented financial statement, IRS may determine you are not collectible at the current time. IRS will suspend your case for a period of 1 to 3 years and put a freeze on it.
The good news is IRS’s off your back for a couple of years and the bad news is penalties and interest still run on it.
Taxpayer should also be aware that the case will come out every couple of years to be reviewed. Its only a part time fix.
2. The second program is the installment agreement or monthly payment.
After IRS takes a current financial statement they will determine how much money they expect from you on a monthly basis. IRS has certain national standards test that they use to determine if the taxpayer will be placed into a payment agreement.
You can find the national standards on our site.
3. The third way to sell your debt is to qualify for an offer in compromise, this is where you can settle your debt for pennies on the dollar. it’s important for taxpayers to understand that not all are eligible for the offer in compromise program.
FACTS:
* There are 78,000 offers filed each year,
* 38% usually approved,
* The average tax debt settlement $9500.
Before you get excited, there is a pre-qualifier tool.
I suggest everyone who wants to go the route was the direction of the offer make sure they are truly qualified before wasting time and money.
As a former IRS agent I taught the offer in compromise program at the IRS. I can tell you within seconds of your settlement candidate.
After review of your current financial statement we will let you know which of the program to qualify for and start to remove IRS out of your life and help pay back taxes.
Call us today for free initial tax consultation and we will walk you through the process and tell you how many years you have to file and let you know the different tax strategies based on your current financial conditions. <><
You will never have to speak to the Internal Revenue Service, ever. We handle all the communication.
Feel free to call us by voice or Skype us directly.
We are a full-service firm with all work being done in-house.
When you call our office you will speak to a true tax professional and not a salesperson.
We know the system inside and out and have saved thousands of dollars for clients over the years.
Owe IRS Trust Fund Tax Debt + Tax Relief Solutions With Former IRS Agents, Revenue Officers
