by Jim Magary | Jan 8, 2016 | Tax Help
We are an affordable professional tax firm with over 65 years of direct IRS work experience. Since 1982. We worked out of the local South Florida IRS offices.
We are tax experts in all IRS matters including the OFFER IN COMPROMISE PROGRAM.
The answer is yes you can settle with IRS for pennies on the dollar but read this entire post. Last year the national rate was 38% acceptance of offers in compromise.
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 was a former IRS agent and teaching instructor. 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.
Not everybody is eligible for the pennies on the dollar, offer in compromise program. 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.
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.
OIC Program to Settle For Pennies On a Dollar
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 offer to settle for pennies on a dollar
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 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:
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.
Offer in Compromise + Settle Tax Debt + Pennies On a Dollar + Former IRS Explains the Offer in Compromise + Ft.Lauderdale + Miami
by Fresh Start Tax | Jan 8, 2016 | Tax Help
We are an affordable professional tax firm with over 65 years of direct IRS work experience. Since 1982. We worked out of the local South Florida IRS offices.
We are tax experts in all IRS matters including the OFFER IN COMPROMISE PROGRAM.
The answer is yes you can settle with IRS for pennies on the dollar but read this entire post. Last year the national rate was 38% acceptance of offers in compromise.
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 was a former IRS agent and teaching instructor. 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.
Not everybody is eligible for the pennies on the dollar, offer in compromise program. 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.
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.
OIC Program to Settle For Pennies On a Dollar
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 offer to settle for pennies on a dollar
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 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:
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.
Offer in Compromise + Settle Tax Debt + Pennies On a Dollar + Former IRS Explains the Offer in Compromise + Ft.Lauderdale + Miami
by Jim Magary | Jan 8, 2016 | Tax Help
We are an affordable local South Florida team of IRS tax experts, former IRS agents and managers, since 1982.
We have 205 years of direct tax experience, 65 years of working for the local IRS in the local, district and regional offices.
Since 1982 we have been representing people in the South Florida, Fort Lauderdale and Miami area.
We worked as Agents, Instructors and in Management. We were also on-the-job instructors for new IRS agents.
At Fresh Start Tax LLC you will be represented by a CPA or former IRS agent who knows the system and can provide your very best tax audit defense.
If we cannot settle your case at the local office will take your case to the Appellate Division or settlements and the best deals are usually made.
It only makes sense to have Former IRS Agents and IRS Tax Audit Managers handle your IRS tax audit and give you the most experienced and successful expert IRS Tax Audit Help.
We understand all protocols, systems, and IRS tax on theories for settlements.
Facts about IRS Tax Audits:
• The IRS audits a total of 1,391,581 tax returns a year.
• The IRS field agents complete more than 310,000 audits by office or business visits a year.
• The IRS completes over 1,081,152 correspondence audits a year.
• IRS has installed new software tracking systems with the development of the CADE 2 computer to spot and recognize tax audits more proficiently
• IRS collected over $10 billion dollars a year from IRS tax audits.
• IRS employs over 13,000 IRS auditors.
• $5.2 billion dollars are collected through the IRS document matching program.
• For truly professional IRS Tax Audit help contact former IRS Agents and Managers.
The IRS Tax Audit Examination Plan
The plan that is used by the IRS is based on long-range coverage planning, and objectives on the resources requested in the Congressional Budget.
From this, there is an established plan where staff years are allocated to all area IRS offices using resource allocation and a prescribed methodology.
Each Area Manager of the IRS is responsible for preparing an area response following instructions from the National Headquarters.
Why the IRS Audits Tax Returns
Although there are a variety of reasons listed below some are the most common.
a. Front Loaded Programs
Front Loaded programs are those tax audits that IRS DC headquarters has determined are very important and a considerable amount of time must be spent on these programs and activities. Each area has discussions within management as to what the programs should be for each region, district, and office.
Some of the programs are:
• Special enforcement programs – An example of this may be compliance of all flee market vendors, a program I was involved with
• High Income non-filers – The IRS would get their information from a match program of w-2’s and 1099’s and match up social security numbers against filed returns
• Abusive Tax Avoidance – This could be in the area of offshore activities
• Offshore credit card program
• National Research programs – Those set forth by management after doing a trends project
• FBAR filing – IRS is currently targeting those with overseas bank accounts
• Non- filers – IRS is presently forming a task force to seek non-filers though aggressive means.
b. The IRS makes sure there is balanced coverage.
The National Office makes sure there is a balanced approach for audit return delivery and tax compliance. Resources and inventory and the size of personnel all go into this formula.
The focus is blended into these areas:
1. Individual returns less than $100,000.
2. Individual returns greater than $100,000 but less than $200,000.
3. Individual returns greater than $ 200,000.
4. Small Business Corporations.
5. Small Business Flow-Through Entities – S Corporations, Fiduciaries and Partnerships.
c. Classification Plan
The IRS will prepare a plan, which is classified. A National DIF score indicator is placed on all Federal Income tax returns that are filed. Each tax return has certain factors that contribute to its score such as Gross Income, Adjusted Gross Income and line item expense.
There are several classified secrets that go into the DIF score.
Each tax return is processed through the IRS computer line item by line item.
A DIF score label is placed on every tax return with its DIF number.
A tax examiner or Revenue Agent manually eyeballs each and every tax return with a high DIF score.
The examiner then determine which return has the highest probability of tax audit success.
d. DIF Cutoff Score, this is the most common reason for audit.
The IRS will calculate the Area DIF cutoff score for each activity code, giving consideration to the selection rate.
This is the lowest DIF score necessary to secure the number of returns required for audit. For example, if the return plan shows 225 returns for an activity code and the selection rate is 70%, the IRS will need to order 321 returns (225/70%).
The DIF Cut off Score is 500. The number of returns with DIF scores greater than 550 is 280, which is less than the number of returns required, so the lowest DIF score on an ordered return will be in the range of 500 to 550 and the DIF cutoff score is 500.
Call us today for a free initial tax consultation and we will review your tax returns, go over best case scenarios and talk about your IRS tax defense for an IRS audit. We are a full service tax firm.
Expert IRS Tax Audit Representation Help + Former + IRS + Affordable, Since 1982 + Ft.Lauderdale + Miami
by Fresh Start Tax | Jan 8, 2016 | Tax Help
We are an affordable local South Florida team of IRS tax experts, former IRS agents and managers, since 1982.
We have 205 years of direct tax experience, 65 years of working for the local IRS in the local, district and regional offices.
Since 1982 we have been representing people in the South Florida, Fort Lauderdale and Miami area.
We worked as Agents, Instructors and in Management. We were also on-the-job instructors for new IRS agents.
At Fresh Start Tax LLC you will be represented by a CPA or former IRS agent who knows the system and can provide your very best tax audit defense.
If we cannot settle your case at the local office will take your case to the Appellate Division or settlements and the best deals are usually made.
It only makes sense to have Former IRS Agents and IRS Tax Audit Managers handle your IRS tax audit and give you the most experienced and successful expert IRS Tax Audit Help.
We understand all protocols, systems, and IRS tax on theories for settlements.
Facts about IRS Tax Audits:
• The IRS audits a total of 1,391,581 tax returns a year.
• The IRS field agents complete more than 310,000 audits by office or business visits a year.
• The IRS completes over 1,081,152 correspondence audits a year.
• IRS has installed new software tracking systems with the development of the CADE 2 computer to spot and recognize tax audits more proficiently
• IRS collected over $10 billion dollars a year from IRS tax audits.
• IRS employs over 13,000 IRS auditors.
• $5.2 billion dollars are collected through the IRS document matching program.
• For truly professional IRS Tax Audit help contact former IRS Agents and Managers.
The IRS Tax Audit Examination Plan
The plan that is used by the IRS is based on long-range coverage planning, and objectives on the resources requested in the Congressional Budget.
From this, there is an established plan where staff years are allocated to all area IRS offices using resource allocation and a prescribed methodology.
Each Area Manager of the IRS is responsible for preparing an area response following instructions from the National Headquarters.
Why the IRS Audits Tax Returns
Although there are a variety of reasons listed below some are the most common.
a. Front Loaded Programs
Front Loaded programs are those tax audits that IRS DC headquarters has determined are very important and a considerable amount of time must be spent on these programs and activities. Each area has discussions within management as to what the programs should be for each region, district, and office.
Some of the programs are:
• Special enforcement programs – An example of this may be compliance of all flee market vendors, a program I was involved with
• High Income non-filers – The IRS would get their information from a match program of w-2’s and 1099’s and match up social security numbers against filed returns
• Abusive Tax Avoidance – This could be in the area of offshore activities
• Offshore credit card program
• National Research programs – Those set forth by management after doing a trends project
• FBAR filing – IRS is currently targeting those with overseas bank accounts
• Non- filers – IRS is presently forming a task force to seek non-filers though aggressive means.
b. The IRS makes sure there is balanced coverage.
The National Office makes sure there is a balanced approach for audit return delivery and tax compliance. Resources and inventory and the size of personnel all go into this formula.
The focus is blended into these areas:
1. Individual returns less than $100,000.
2. Individual returns greater than $100,000 but less than $200,000.
3. Individual returns greater than $ 200,000.
4. Small Business Corporations.
5. Small Business Flow-Through Entities – S Corporations, Fiduciaries and Partnerships.
c. Classification Plan
The IRS will prepare a plan, which is classified. A National DIF score indicator is placed on all Federal Income tax returns that are filed. Each tax return has certain factors that contribute to its score such as Gross Income, Adjusted Gross Income and line item expense.
There are several classified secrets that go into the DIF score.
Each tax return is processed through the IRS computer line item by line item.
A DIF score label is placed on every tax return with its DIF number.
A tax examiner or Revenue Agent manually eyeballs each and every tax return with a high DIF score.
The examiner then determine which return has the highest probability of tax audit success.
d. DIF Cutoff Score, this is the most common reason for audit.
The IRS will calculate the Area DIF cutoff score for each activity code, giving consideration to the selection rate.
This is the lowest DIF score necessary to secure the number of returns required for audit. For example, if the return plan shows 225 returns for an activity code and the selection rate is 70%, the IRS will need to order 321 returns (225/70%).
The DIF Cut off Score is 500. The number of returns with DIF scores greater than 550 is 280, which is less than the number of returns required, so the lowest DIF score on an ordered return will be in the range of 500 to 550 and the DIF cutoff score is 500.
Call us today for a free initial tax consultation and we will review your tax returns, go over best case scenarios and talk about your IRS tax defense for an IRS audit. We are a full service tax firm.
Expert IRS Tax Audit Representation Help + Former + IRS + Affordable, Since 1982 + Ft.Lauderdale + Miami
by Jim Magary | Jan 7, 2016 | Tax Help
We are the Affordable Professional Tax Firm consisting of tax attorneys, tax lawyers, CPA’s, and former IRS agents, since 1982. We can Stop the IRS NOW.
We have over 60 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service. We worked out of the South Florida IRS offices.
We know every possible solution to any tax problem.
Our professional staff includes tax attorneys, tax lawyers, certified public accountants and array of former IRS agents, managers and teaching instructors.
We’re true IRS tax experts and have over 206 years of professional tax experience.
Because of our years at the Internal Revenue Service we know and understand the system and can get you the immediate tax help you need for affordable pricing because of our streamlined processes.
Stopping IRS Tax Levy & Garnishments
If you have received an IRS tax levy or wage garnishment levy, as a general rule within 24 hours of receiving your current financial statement we can get your bank or wage levy released.
IRS files 1.8 million tax levies each and every year. if you have not responded to the IRS last and final notice you can expect not only a banker wage garnishment levy but the possibility of a filing of a federal tax lien. when you call us today we will review the different options for you to immediately stop the federal tax levy or wage garnishment.
File Back Tax Returns
If you need to file back tax returns we can prepare your returns with little or no records by pulling tax transcripts. We can prepare your back tax returns under reconstructive methods.
It is important you file a tax return with IRS if you don’t, the IRS has the option for preparing your tax return under 6020 b of the code.
Over 15 million people do not file annual tax returns.
IRS Payment plans
If you need to make a payment plan with the Internal Revenue Service, we can review the different payment plan options and get you started so you can get this problem behind you, your case closed and settled with the IRS today. There are basically three type of payment plan.
Last year over 6.5 million taxpayers in turn to installment agreements.
We are A+ rated by the Better Business Bureau and have been in private practice since 1982.
When calling our office you will speak directly to a true IRS tax expert and not a salesperson.
We have over 206 years of professional tax experience and what are the most seasoned and experienced professional tax firms in South Florida.
Call us today to hear the truth about your tax situation and the easiest and most affordable way to remedy the problem.
STOP IRS Problems + Levies + Audits + Liens + Payment Plans + Settlements + Payroll Taxes + File Back Returns + Ft.Lauderdale + 33316, 33304, 33315, 33304, 33019
by Fresh Start Tax | Jan 7, 2016 | Tax Help
We are the Affordable Professional Tax Firm consisting of tax attorneys, tax lawyers, CPA’s, and former IRS agents, since 1982. We can Stop the IRS NOW.
We have over 60 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service. We worked out of the South Florida IRS offices.
We know every possible solution to any tax problem.
Our professional staff includes tax attorneys, tax lawyers, certified public accountants and array of former IRS agents, managers and teaching instructors.
We’re true IRS tax experts and have over 206 years of professional tax experience.
Because of our years at the Internal Revenue Service we know and understand the system and can get you the immediate tax help you need for affordable pricing because of our streamlined processes.
Stopping IRS Tax Levy & Garnishments
If you have received an IRS tax levy or wage garnishment levy, as a general rule within 24 hours of receiving your current financial statement we can get your bank or wage levy released.
IRS files 1.8 million tax levies each and every year. if you have not responded to the IRS last and final notice you can expect not only a banker wage garnishment levy but the possibility of a filing of a federal tax lien. when you call us today we will review the different options for you to immediately stop the federal tax levy or wage garnishment.
File Back Tax Returns
If you need to file back tax returns we can prepare your returns with little or no records by pulling tax transcripts. We can prepare your back tax returns under reconstructive methods.
It is important you file a tax return with IRS if you don’t, the IRS has the option for preparing your tax return under 6020 b of the code.
Over 15 million people do not file annual tax returns.
IRS Payment plans
If you need to make a payment plan with the Internal Revenue Service, we can review the different payment plan options and get you started so you can get this problem behind you, your case closed and settled with the IRS today. There are basically three type of payment plan.
Last year over 6.5 million taxpayers in turn to installment agreements.
We are A+ rated by the Better Business Bureau and have been in private practice since 1982.
When calling our office you will speak directly to a true IRS tax expert and not a salesperson.
We have over 206 years of professional tax experience and what are the most seasoned and experienced professional tax firms in South Florida.
Call us today to hear the truth about your tax situation and the easiest and most affordable way to remedy the problem.
STOP IRS Problems + Levies + Audits + Liens + Payment Plans + Settlements + Payroll Taxes + File Back Returns + Ft.Lauderdale + 33316, 33304, 33315, 33304, 33019
