by Fresh Start Tax | Jan 12, 2016 | Tax Help
We are a local South Florida tax firm that specializes in all IRS problems, former IRS agents and managers, since 1982.
As former IRS agents and managers we worked out of the local South Florida offices specifically, we worked out of the Miami, North Miami and Fort Lauderdale office.
We also worked as managers, supervisors and teaching instructors. Not only did we work in the above aforementioned positions we are also on-the-job trainers for new IRS employees.
We know all the IRS systems inside and out we have worked both sides of any IRS problem and know the protocols and methodologies to resolve any IRS matter.
If you have not filed Back Tax Returns, you are not alone the tax gap is $450 billion. the tax gap is a figure placed on taxes that should-be been collected if all tax returns were filed. IRS is working hard to make sure all those with one file tax returns are back in the system.
Please keep in mind if you don’t file your back tax returns IRS has the option of filing your tax return under 6020 B of the IRC. IRS will do you no favors in filing, you will pay the highest amount allowed by law.
Filing back tax returns is not an issue for our firm. We have prepared thousands of back tax returns with or without tax records.
There is a very systematic way to do this and it is called income tax reconstruction.
We take the methodologies learned at Internal Revenue Service and apply the best practice standards to go ahead and prepare your back tax return and make sure you pay the lowest amount allowed by law.
On cases where taxpayers have received notices, we send IRS a power of attorney so you will never have to speak to IRS and we handle all the correspondence.
From there we go ahead and start the preparation of our tax return process by pulling IRS transcripts and any available records. From there, we submit the tax returns to IRS at the same time work out a remedy or solution if you’re go to owe back tax debt.
It is important for every taxpayer to know that if they are in a position where they haven’t filed back taxes that they start making estimate tax payments or creased or withholding to cover their new IRS tax debt. Internal Revenue Service wants to make sure future compliance is not an issue.
IRS Tax Debt Settlements, I am a former IRS agent and teaching instructor of the offer in compromise.
If you need to settle your tax debt with Internal Revenue Service, as a general IRS will want to current financial statement to make a determination.
You will need to do that on the IRS form 433A or 433F.
As a general rule upon your submission of your current documented financial statement,
IRS will either place you went into:
1.currently not collectible file (hardship) or ,
2. ask you for a monthly payment.
Many taxpayers are eligible for the offer in compromise program to settle their debt for pennies on the dollar.
Last year over 38,000 taxpayers settle their tax debt for an average of $6500 per case. Keep in mind that is just an average national average in your case is completely dependent on your current financial statement.
Before you file for offer in compromise it is wise to fill out the IRS pre-qualifier tool to make sure you were a viable candidate and don’t waste any money.
When you call our office we will be review with you the various options you have to completely and permanently remedy all your IRS tax problems once and for all.
If the IRS has filed a federal tax lien against you, when you call our office we will go over the different ways you may be able to release your federal tax lien. The lien will stay on your record for 10 years from the date of assessment unless an offer in compromise was accepted or you got into an IRS payment agreement that met the qualifications.
We are a full-service firm that specializes in IRS tax relief. With over 206 years of professional tax experience and over 65 years of combined work experience.
We are one of the most affordable, experience, and trustworthy firms in the South Florida area.
Call us today for a free initial tax consultation.
Have Unfiled Back Tax Returns + IRS Tax Debt Settlement + Payment Plans + IRS Levies / Tax Liens + FORMER IRS + 33326, 33327 ,33331, 33332 + Weston
by Jim Magary | Jan 12, 2016 | Tax Help
We are an affordable professional tax firm with over 65 years of direct IRS work experience. Since 1982. Local Experts
We worked out of the local South Florida IRS offices. We know the system!
Last year the national rate was 38% acceptance of offers in compromise for an average of $6500 per settlement.
Keep in mind this is a national average in your case is completely dependent on your individual financial statement.
We will not file for an offer in compromise unless you are a true candidate for the program. Upon your initial tax consultation we’ll let you know if you are eligible.
As a former IRS agent, I was a teaching instructor for the offer in compromise, the IRS tax debt settlement program. Due to the new fresh start tax initiative Internal Revenue Service had made it easier to file for the program. However this program is not for everybody.
Everyone wants to settle with IRS but there is a very specific format and methodology that must be followed.
You could hear the truth about the offer in compromise program when you call us.
There are many myths about the pennies on the dollar program so you need to hear the truth before spending any money.
I know the system inside and out. As a former IRS agent I used to accept and reject offers in compromise.
I have heard countless horror stories from taxpayers who called me about firms that have ripped them off promising settlements.
There is a very specific system and methodology to get an offer in compromise approved for pennies on the dollar. Last year 38,000 taxpayers had their cases accepted.
As a former IRS agent I taught the offer in compromise program at the district training center as a former employee.
The question is pennies on the dollar possible?
Yes , it is as a matter of fact, over 38,000 taxpayers got their debt settled with the Internal Revenue Service for average settlement of $6500 last year. There were a total of 78,000 applications for the pennies on the dollar, offer in compromise program last year.
With that being said there is much to say about this pennies on the dollar program called the offer in compromise.
At our firm we will take no clients money until we are no they are a true candidate for the settlement program.
There are many myths about the offer in compromise so IRS and in their great wisdom provides a pre-qualifier tool to find out if taxpayers are eligible for the offer in compromise program so taxpayers do not give their hard-earned money to unsuspecting tax firms promising tax settlements.
I would suggest anyone who wants to go ahead and settle their tax debt through the pennies on the dollar, offer in compromise program contact an experienced an honest tax professional, have them walk them through the pre-qualifier tool before they give their money to anybody.
If you have any questions or issues about the offer in compromise program to settle your debt for pennies on the dollar, call us today and we will review your case to let you know if you are a qualified and suitable candidate.
The IRS spends a lot of due diligence before they accept an offer in compromise. It is possible for the IRS to spend over 20 hours working an offer in compromise. On cases over $100,000 it is typical they will check your credit report for the accuracy of your financial statement.
Many people ask why is this process not that simple. The answer is this, all accepted offers in compromise are a matter of public record for one year in the regional office where the offer was accepted.
The Internal Revenue Service does all that it can to make sure there is a matter of consistency within the offer in compromise program if not still be a tremendous public outcry.
Right now there are over 7500 cases in the offer queue to be worked.
We are a full-service firm with an expertise in any IRS tax debt matter including offering compromise.
One base rule for the offer in compromise program. IRS is only concerned about your income and assets. this includes your equity in your home, pension plans are IRA’s.
One nice thing about the IRS accepting your offer in compromise is that once you meet the terms of the settlement they will release your federal tax lien.
Below you will find out what you need to know about the offer in compromise program.
What is a OIC?
An offer in compromise allows you to settle your tax debt for less than the full amount you owe.
It may be a legitimate option if you can’t pay your full tax liability, or doing so creates a financial hardship.
IRS will consider your unique set of facts and circumstances:
• Ability to pay;
• Income;
• Expenses; and
• Asset equity.
IRS generally approves an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time.
Make sure you are eligible to settle for pennies on a dollar!
Before the IRS can consider your offer, you must be current with all filing and payment requirements.
You are not eligible if you are in an open bankruptcy proceeding.
Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.
Submitting your IRS offer to settle tax debt
You’ll find step-by-step instructions and all the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B (PDF).
Your completed offer in compromise package will include:
• Form 433-A (OIC) (individuals) or 433-B (OIC) (businesses) and all required documentation as specified on the forms;
• Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;
• $186 application fee (non-refundable); and
• Initial payment (non-refundable) for each Form 656.
Select a payment option for the pennies on a dollar OIC
Your initial payment will vary based on your offer and the payment option you choose:
• Lump Sum Cash Payment:
Submit an initial payment of 20 percent of the total offer amount with your application. Wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.
• Periodic Payment:
Submit your initial payment with your application.
Continue to pay the remaining balance in monthly installments while the IRS considers your offer. If accepted, continue to pay monthly until it is paid in full.
If you meet the Low Income Certification guidelines, you do not have to send the application fee or the initial payment and you will not need to make monthly installments during the evaluation of your offer.
Understand the process of OIC
While your offer is being evaluated:
• Your non-refundable payments and fees will be applied to the tax liability (you may designate payments to a specific tax year and tax debt);
• A Notice of Federal Tax Lien may be filed;
• Other collection activities are suspended;
• The legal assessment and collection period is extended;
• Make all required payments associated with your offer;
• You are not required to make payments on an existing installment agreement; and
• Your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.
Call us today for free initial tax consultation to see if you are a certified an eligible candidate for the offer in compromise program.
We call our office you will speak to a true IRS tax professional. So yes pennies on a dollar is possible, however make sure you’re a qualified candidate.
Call us today for a free initial tax consultation and speak to a true IRS expert about the offer in compromise the way to settle your tax debt for pennies on a dollar if you qualify. When you call our office you will speak to true IRS tax expert to learn more about the offer in compromise and tax debt settlement program to reduce your IRS tax debt.
Offer in Compromise + Settle IRS Tax Debt + Reduces IRS Taxes + Former IRS + Ft.Lauderdale + 33308, 33334
by Fresh Start Tax | Jan 12, 2016 | Tax Help
We are an affordable professional tax firm with over 65 years of direct IRS work experience. Since 1982. Local Experts
We worked out of the local South Florida IRS offices. We know the system!
Last year the national rate was 38% acceptance of offers in compromise for an average of $6500 per settlement.
Keep in mind this is a national average in your case is completely dependent on your individual financial statement.
We will not file for an offer in compromise unless you are a true candidate for the program. Upon your initial tax consultation we’ll let you know if you are eligible.
As a former IRS agent, I was a teaching instructor for the offer in compromise, the IRS tax debt settlement program. Due to the new fresh start tax initiative Internal Revenue Service had made it easier to file for the program. However this program is not for everybody.
Everyone wants to settle with IRS but there is a very specific format and methodology that must be followed.
You could hear the truth about the offer in compromise program when you call us.
There are many myths about the pennies on the dollar program so you need to hear the truth before spending any money.
I know the system inside and out. As a former IRS agent I used to accept and reject offers in compromise.
I have heard countless horror stories from taxpayers who called me about firms that have ripped them off promising settlements.
There is a very specific system and methodology to get an offer in compromise approved for pennies on the dollar. Last year 38,000 taxpayers had their cases accepted.
As a former IRS agent I taught the offer in compromise program at the district training center as a former employee.
The question is pennies on the dollar possible?
Yes , it is as a matter of fact, over 38,000 taxpayers got their debt settled with the Internal Revenue Service for average settlement of $6500 last year. There were a total of 78,000 applications for the pennies on the dollar, offer in compromise program last year.
With that being said there is much to say about this pennies on the dollar program called the offer in compromise.
At our firm we will take no clients money until we are no they are a true candidate for the settlement program.
There are many myths about the offer in compromise so IRS and in their great wisdom provides a pre-qualifier tool to find out if taxpayers are eligible for the offer in compromise program so taxpayers do not give their hard-earned money to unsuspecting tax firms promising tax settlements.
I would suggest anyone who wants to go ahead and settle their tax debt through the pennies on the dollar, offer in compromise program contact an experienced an honest tax professional, have them walk them through the pre-qualifier tool before they give their money to anybody.
If you have any questions or issues about the offer in compromise program to settle your debt for pennies on the dollar, call us today and we will review your case to let you know if you are a qualified and suitable candidate.
The IRS spends a lot of due diligence before they accept an offer in compromise. It is possible for the IRS to spend over 20 hours working an offer in compromise. On cases over $100,000 it is typical they will check your credit report for the accuracy of your financial statement.
Many people ask why is this process not that simple. The answer is this, all accepted offers in compromise are a matter of public record for one year in the regional office where the offer was accepted.
The Internal Revenue Service does all that it can to make sure there is a matter of consistency within the offer in compromise program if not still be a tremendous public outcry.
Right now there are over 7500 cases in the offer queue to be worked.
We are a full-service firm with an expertise in any IRS tax debt matter including offering compromise.
One base rule for the offer in compromise program. IRS is only concerned about your income and assets. this includes your equity in your home, pension plans are IRA’s.
One nice thing about the IRS accepting your offer in compromise is that once you meet the terms of the settlement they will release your federal tax lien.
Below you will find out what you need to know about the offer in compromise program.
What is a OIC?
An offer in compromise allows you to settle your tax debt for less than the full amount you owe.
It may be a legitimate option if you can’t pay your full tax liability, or doing so creates a financial hardship.
IRS will consider your unique set of facts and circumstances:
• Ability to pay;
• Income;
• Expenses; and
• Asset equity.
IRS generally approves an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time.
Make sure you are eligible to settle for pennies on a dollar!
Before the IRS can consider your offer, you must be current with all filing and payment requirements.
You are not eligible if you are in an open bankruptcy proceeding.
Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.
Submitting your IRS offer to settle tax debt
You’ll find step-by-step instructions and all the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B (PDF).
Your completed offer in compromise package will include:
• Form 433-A (OIC) (individuals) or 433-B (OIC) (businesses) and all required documentation as specified on the forms;
• Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;
• $186 application fee (non-refundable); and
• Initial payment (non-refundable) for each Form 656.
Select a payment option for the pennies on a dollar OIC
Your initial payment will vary based on your offer and the payment option you choose:
• Lump Sum Cash Payment:
Submit an initial payment of 20 percent of the total offer amount with your application. Wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.
• Periodic Payment:
Submit your initial payment with your application.
Continue to pay the remaining balance in monthly installments while the IRS considers your offer. If accepted, continue to pay monthly until it is paid in full.
If you meet the Low Income Certification guidelines, you do not have to send the application fee or the initial payment and you will not need to make monthly installments during the evaluation of your offer.
Understand the process of OIC
While your offer is being evaluated:
• Your non-refundable payments and fees will be applied to the tax liability (you may designate payments to a specific tax year and tax debt);
• A Notice of Federal Tax Lien may be filed;
• Other collection activities are suspended;
• The legal assessment and collection period is extended;
• Make all required payments associated with your offer;
• You are not required to make payments on an existing installment agreement; and
• Your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.
Call us today for free initial tax consultation to see if you are a certified an eligible candidate for the offer in compromise program.
We call our office you will speak to a true IRS tax professional. So yes pennies on a dollar is possible, however make sure you’re a qualified candidate.
Call us today for a free initial tax consultation and speak to a true IRS expert about the offer in compromise the way to settle your tax debt for pennies on a dollar if you qualify. When you call our office you will speak to true IRS tax expert to learn more about the offer in compromise and tax debt settlement program to reduce your IRS tax debt.
Offer in Compromise + Settle IRS Tax Debt + Reduces IRS Taxes + Former IRS + Ft.Lauderdale + 33308, 33334
by Fresh Start Tax | Jan 12, 2016 | Tax Help
Affordable Local Former IRS Agents who know the system, Since 1982. A plus Rated BBB.
Since 1982, we are a full service tax firm that specialize in IRS and state tax services. As former IRS agents and managers we worked out of the local South Florida IRS offices.
We taught out of the regional training centers of the Internal Revenue Service and we were on-the-job instructors.
We are one of the most experienced, professional and affordable tax firms in South Florida.
At Fresh Start Tax LLC :
1. All work is done in-house by true IRS tax experts,
2. We have over 206 years of professional tax experience,
3. We specialize in IRS tax problem help services,
4. We are one of the most experienced, trustworthy, and honest professional tax firm.
We can remove an IRS tax levy garnishment within 24 hours of receiving your current financial statement, talk to you about the removal of a federal tax lien, represent you during an IRS tax audit, file any and all back tax returns and talk you about the settlement of your tax debt through the offer in compromise.
From a simple IRS notice or letter to going to Tax Court, we have a solution.
In most cases in which back taxes our owed, your financial statement is the key to tax resolution. Professional experience is key to resolving any tax problem.
Help for Tax Levies: Received a IRS Tax Levies, IRS Wage Garnishment
The Internal Revenue Service levies approximately 1.8 million taxpayers each and every year and this figure includes and bank & wage garnishments. The numbers vary from year to year but this is one of the chief IRS tools for collection.
The IRS is very generous with their enforcement action.
If you have been levied you are not alone.
If you have not responded to an IRS final notice they systematically send out an IRS tax levy from their CADE2 computer system.
As a general rule, IRS sends out a series of billing notices to the last known address.
The IRS billing notices or five weeks apart. You must respond to final notices.
If you do not respond to the IRS last notice, the 1058, you can expect the tax lien or tax levy to show up within 30 days of receiving the notice.
IRS usually does not miss a follow-up date.
Before IRS will release the levy many times they want all on file tax returns in their hand to make sure you are in full compliance. We can prepare all your back tax returns.
Before IRS will remove a tax levy or wage garnishment they will need a current and verifiable financial statement.
If the cases in the local office the revenue officer will require form 433a.
The revenue officer is a much more seasoned IRS agent and especially geared for higher dollar IRS collection cases.
Once we have your current verified financial statement in hand, we can usually get your tax levy or garnishment released within 24 hours. The sooner you get a sure financial statement the sooner you get your money back from the Internal Revenue Service.
IRS usually closes back tax case by putting a case in a
1. tax hardship, this is also called currently not collectible, over 40% of all outstanding IRS back taxes are put in the status,
2. having a taxpayer into a monthly installment agreement, over 6.5 million taxpayers have yearly installment agreements.
3. telling them they may qualify for an offer in compromise your tax debt settlement.
Offer in Compromises are very tricky and should only be turned in by true tax professionals.
IRS is very strict about their offer process. Right now there are over 7500 cases sitting in the queue. anyone wishing to file an offer in compromise should walk to the pre-qualifier tool to make sure they are an eligible candidate so they don’t waste time and money.
Please remember your current financial statement will determine the outcome of your case therefore it is critical to have a tax professional complete the financial information.
If you have back tax returns to file, you can have former IRS agents ensure that you are paying the lowest amount of tax allowed by law.
IRS Offer in Compromise/ IRS Tax Debt Settlements
If you wish to settle your tax debt, we can have former IRS revenue officers who worked the offer in compromise program settle your tax debt if and only if you were a true candidate for a tax debt settlement called an offer in compromise.
We do not file an offer in compromise for a tax debt settlement unless you are a qualified candidate.
We walk all our clients through the process.
Approximately 38% of all taxpayers who file an offer in compromise get accepted by the Internal Revenue Service however you must be a qualified candidate.
The average settlement is $6500 per case but that is just the national average.
IRS Tax Audits
If you have received an IRS tax audit or currently going through the audit, call us today and get the opinion of the former IRS audit manager.
Former IRS employees are some of the best tax experts to resolve any IRS audit problem since we know the system inside and out.
Call us today for a free initial tax assessment.
IRS Problems Help + Tax Debt Settlement + Levies, Wage Garnishment + Audit + Payment Plans + Unfiled Taxes + 33326, 33327 ,33331, 33332 + Weston
by Jim Magary | Jan 11, 2016 | Tax Help
If you are dealing with an IRS problem call us today, we are the ‘AFFORDABLE” professional tax firm, former IRS agents.
We have over 60 years of direct work experience in the local, South Florida IRS offices. We have worked as supervisors, as managers, and teachings instructors. We have been in private practice since 1982.
We have years of experience at the Internal Revenue Service, we know the system inside and out. Let our years of experience work for you to get you the tax settlement you need.
It is important to know that working out deals and settlements with IRS is dependent on your current financial statement. the Internal Revenue Service is use that as a benchmark.
If you have any sort of IRS problem contact us today and we can review with you various solutions to go ahead and help with an IRS final notice, certified mail, intent to levy, the filing of a federal tax lien, payment plans and the settling of your case through an offer a compromise.
If you have received an IRS final notice, we can STOP IRS today with the simple filing of a power of attorney and with a direct IRS conversation.
We handle all correspondence and you will never have to communicate or speak with the Internal Revenue Service.
If you have received an IRS notice of intent to levy, we can file a collection due process hearing also to stop IRS. There are a variety of other techniques that we will explain to you depending on your individual situation.
If you are going to owe back taxes and wish a payment plan or which to reach a settlement with them call us today for a free initial tax consultation.
We will lay out a very specific plan and educate you about the process of tax resolution for your individual case.
If IRS sends you a document it is time sensitive and taxpayers must follow-up on all time sensitive letters.
If you do not respond IRS letters, their enforcement computer will send out liens, levies, and garnishments to go ahead and get your attention.
The IRS collection computer is the largest of its kind in the world.It is a billing and enforcement machine.
The System of the IRS Tax Billing Notices
Once a tax return is filed or IRS initiates a tax assessment, IRS sends out a series of five notices and those notices are sent five cycles or five weeks apart.
IRS has the option, depending on the dollar amount and the history of the taxpayer to speed up those assessments.
If you are in need a professional tax help call us today and speak to a tax firm who truly knows the system they can help you with any tax problem you have.
We can stop the IRS today because we know the system we worked in the system and we have the experience within the system.
The IRS Billing Notices for those that owe IRS Back Taxes:
1. CP 14 – This is the notice of balance due,
2.CP 501 – This is a Bill that you still owe tax,
3. CP503 – Important, Immediate Action Required
4. CP 504 – Urgent Notice – We Intend to Levy on Certain Assets, Please Respond Now
5. CP90/CP297/ – IRS Letter 1058 – Final Notice of Intent to Levy of Your Right to a Hearing Caution, You Must Answer this Notice
6.CP 91- CP298 -IRS Final Notice
If you owe back tax debt there are number of solutions and options based on your current financial statement and the affordability of you paying back taxes. Upon your initial review or consult with this we will let you know the various programs that are afforded to you through the Internal Revenue Service.
When you call our office you will speak to a true IRS tax professional enter the truth.
Call us today for a free initial tax consultation and speak to a true IRS tax professional can resolve your IRS tax issue once and for all.
If you are going to an IRS tax audit. we can have a former IRS audit agent provide your best tax defense.
IRS Final Notice or Certified Mail + STOP IRS NOW + Intent to Levy, Tax Lien + IRS Payment Plans + Settle & Compromise + 33308, 33334, 33304, 33305, 33301+ Ft.Lauderdale
by Fresh Start Tax | Jan 11, 2016 | Tax Help
We are an “AFFORDABLE “ full service tax firm that specializes in IRS tax problems. Former IRS Agents, Since 1982.
We have over 60 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service. We know the system inside and out. Let our experience work for you.
As former IRS agents and managers we worked out of the local South Florida offices & were we were supervisors, managers, and teaching instructors.
If you need to file back tax returns or owe the IRS a tax debt, we can go ahead and work out an effective tax settlement for you.
How Taxpayers who owe back taxes generally can settle their case by IRS.
IRS will require a current financial statement to close your case off of the collection computer.
IRS after reviewing your current financial statement will either put you into a current hardship, asking for a monthly payment agreement or will consider the filing of an offer in compromise. Your current financial statement will completely determine the closing method used by IRS.
IRS Case Closures by the IRS.
At the current time over 40% of the cases are put into a currently not collectible file, 6.5 million taxpayers have current monthly or installment agreements and 38,000 taxpayer settled by the acceptance of an offer in compromise.
Do you have unfiled or not file tax returns?
Many people do not file back tax returns because they lost their records or because of fear.
It is important to remember IRS just want you back in the system so don’t let fear or panic set in.
If this is your case, we can go ahead and pull IRS tax transcripts and secure enough information to file back tax returns.
If you have little or few tax records that is not a problem we can prepare your returns under reconstructive methods ensure you will pay the lowest amount allowed by law. We can get you back in the system worry free.
Being a former IRS agents we understand all the techniques to get you back in the system worry free.
I caution those taxpayers who do not file to be very careful because IRS can file your tax return under 6020 B and you will pay the most amount allowed by law.
If you do not follow-up on the assessment IRS makes under 6020 B of the IRC code, the Internal Revenue Service will follow-up by the filing of a federal tax levy in a federal tax lien.
We will give you a free evaluation or analysis on the best way to settle your case for the lowest possible dollar amount if you are a suitable candidate for an offer in compromise.
When you call our office you will speak directly to a true IRS tax expert. We know every tax option available to remedy your IRS tax debt.
Tax Levies
A levy is a legal seizure of your property to satisfy a tax debt.
Levies are different from liens.
A lien is a legal claim against property to secure payment of the tax debt, while a levy actually takes the property to satisfy the tax debt.
Where does Internal Revenue Service (IRS) authority to levy originate?
The Internal Revenue Code (IRC) authorizes levies to collect delinquent tax. See IRC 6331. Any property or right to property that belongs to the taxpayer or on which there is a Federal tax lien can be levied, unless the IRC exempts the property from levy.
What actions must the Internal Revenue Service take before a tax levy can be issued?
The IRS will usually levy only after these three requirements are met:
• The IRS assessed the tax and sent you a Notice and Demand for Payment (a tax bill);
• You neglected or refused to pay the tax; and
• The IRS sent you a Final Notice of Intent to Levy and Notice of Your Right to A Hearing (levy notice) at least 30 days before the levy.
The IRS may give you this notice in person, leave it at your home or your usual place of business, or send it to your last known address by certified or registered mail, return receipt requested. Please note: if the IRS levies your state tax refund, you may receive a Notice of Levy on Your State Tax Refund, Notice of Your Right to Hearing after the levy.
When will the IRS issue a levy?
If you do not pay your taxes (or make arrangements to settle your debt), and the IRS determines that a levy is the next appropriate action, the IRS may levy any property or right to property you own or have an interest in.
For instance, the IRS could levy property that is yours, but is held by someone else (such as your wages, retirement accounts, dividends, bank accounts, licenses, rental income, accounts receivables, the cash loan value of your life insurance, or commissions). Or, the IRS could seize and sell property that you hold (such as your car, boat or house).
Keep in mind there is a difference between an IRS tax levy and an IRS tax lien.
An IRS tax levy is an immediate garnishment on bank accounts or on wages were as tax liens placed at the county courthouse and placed on public records.
Therefore tax levies are seizures and liens act as judgments.
Call us today for a free initial tax consultation and hear the truth about any IRS matter. We have over 206 years of professional tax experience.
IRS Taxes + Unfiled Back Taxes + Remove IRS Levy + Stop Tax Liens + Set up Payment Plans + Offer in Compromise + 33308, 33334, 33304, 33305, 33301+ Ft.Lauderdale
