by Jim Magary | Dec 9, 2015 | Tax Help
We can get your IRS tax levy, wage garnishment levy released within a 24-hour period of time and close your case at the same time. A plus Rated Tax Company BBB.
We are the affordable professional tax firm that knows the system. As former IRS agents and managers we know the system.
We have a combined 60 years of direct work experience in the local, district, and regional tax offices of the Internal Revenue Service and know exactly how to settle your case with the Internal Revenue Service.
Let our knowledge and years of experience work for you. we are one of the premier tax companies for resolving IRS tax debt including bank and wage garnishment levies.
If you are in receipt of an IRS tax levy, wage levy or bank levy garnishment contact us today and we can get your tax levy released in your case closed all at the same time for the same fee.
Within 24 hours of receiving your fully documented financial statement we guarantee that you will have a release of your IRS bank levy or wage garnishment levy.
We will speak with you about settling your tax debt to the offer in compromise program. Our firm will not submit an offer in compromise until we walked through the offer in compromise pre-qualifier tool to make sure that you can settle your tax debt for pennies on dollar.
You should not give your money to any firm to file an offer in compromise unless they walked to this program with you.
As a revenue officer I both work this program was a teaching instructor for the tax debt settlement program. I’m a true IRS tax expert for the offer in compromise.
The Internal Revenue Service accepted 38,000 offers in compromise last year for average of $6500 per settlement. Last year there were 78,000 offers in compromise filed. Please keep in mind this is a national average.
Taxpayers should be aware that there is a pre-qualifier tool for the offer in compromise program. I suggest everyone the walk through this particular tool given by Internal Revenue Service to find out for a qualified candidate
IRS Tax Levies + IRS Tax Levy+ IRS Wage Garnishment Releases
The IRS filed 1.8 million the bank and wage garnishment levies last year. So if you received a bank or wage garnishment levy you are not alone.
Before IRS will release a tax levy, a wage garnishment or bank seizure, Internal Revenue Service will need a current documented financial statement. IRS’s very systematic and how they were cases when levies are issued.
If your case is in the automatic collection system you will be filling out and documenting form 433F which you can find directly on our website. It is the only form the Internal Revenue Service will use.
When calling our office we will complete the form, speak to the Internal Revenue Service and within 24 hours of having your fully documented financial statement we can get your IRS tax levy released.
If the cases are in the local IRS office form 433 a will be required and a much more detailed investigation will be made on your current financial statement.
If this is the case a revenue officer out of the local office will be looking at your case. The revenue officer will look at your case more in-depth than the ACS unit.
The filling out of your financial statement is critical into the settlement of your case. using former IRS agents and managers will give you a tremendous advantage.
With that current financial statement you will need to provide IRS the last three months of your bank statements, copies of your pay stubs and your monthly expenses.
IRS does a thorough review of your financial statement therefore you want to make sure you are both honest and accurate.
IRS reserves the right to track credit report records to make sure your financial statement is correct. The Internal Revenue Service does a fair amount of due diligence when they work all cases.
As a general rule IRS will not release your levy until all your tax returns are filed. We can prepare all your back tax returns with little or no records. We are tax experts for reconstruction.
Internal Revenue Service usually closes your case off the enforcement two general ways: Based on your current financial statement, IRS will put you in a:
1.currently uncollectible file or,
2. put you in a payment agreement.
Over 40% of collection cases wind up in a current tax hardship and 6.5 million other taxpayers are put into monthly installment payment plans.
It is important you file all back tax returns if not the IRS can file for you under 6020 B of the Internal Revenue Code and they will make sure you get no deductions.
IRS will not give any non-filer any deductions or exemptions that they prepare under 6020B.
IRS may fail to release an IRS tax levy wage garnishment or bank levy because taxpayers have failed to file back tax returns.
After the review of your IRS financial statement we can let you know whether you are a possible debt settlement candidate for the offer in compromise program.
One last note of interest, it is very critical all taxpayers respond to all IRS notices because IRS intends to follow-up on all the dates given on each and every notice sent.
Also be aware that IRS billing cycles are five weeks apart.
Call for free initial tax consultation and hear the truth we are the affordable professional tax firm.
We will go over the offer in compromise program to see if you can settle your debt for pennies on the dollar.
We try to qualify all our taxpayer clients to see if there are eligible for the program.
We have over 206 years of professional tax experience.
Tax Company + Remove IRS Tax Levy NOW + Bank & Wage Garnishments + Settle Tax Debt For Less + Former IRS
by Fresh Start Tax | Dec 9, 2015 | Tax Help
If the Internal Revenue Service has prepared a tax return they may do so under the following below sections of the Internal Revenue Code.
Before you read the code sections, if this IRS tax filing has caused you on unfair or undue hardship contact us today.
Many times when IRS prepares your tax returns they are flat-out wrong.
IRS has a process that you can file for what is known as an IRS audit reconsideration.
We are former IRS agents and managers who know the system and can get this tax assessment reversed.
If you are go back taxes we can work out a tax settlement at the same time.
We have over 206 years of professional tax experience and over 65 are working directly for the Internal Revenue Service in the local, district, and regional tax office of the Internal Revenue Service.
We are a full-service firm.
We are available for a free initial phone consultation to take care of your IRS problems in matters.
IRC 6020(a)
1. If the taxpayer will consent to disclose all information necessary for the preparation of the return(s), IRC 6020(a) states, “… the Secretary may prepare such return, which, being signed by such person, may be received by the Secretary as the return of such person.”
This does not include the taxpayer signing a waiver of restriction on assessment (e.g., Form 4549, Income Tax Examination Changes, or Form 870, Waiver of Restrictions on Assessment & Collection of Deficiency in Tax & Acceptance of Overassessment,) which does not constitute a return under IRC 6020(a).
2. Delinquency penalties are applicable.
IRC 6020(b)
1. IRC 6020(b) states, “If any person fails to make any return required by any Internal Revenue Law or regulation made there under at the time prescribed therefore, or makes, willfully or otherwise, a false or fraudulent return, the Secretary shall make such return from his own knowledge and from such information as he can obtain through testimony or otherwise.”
A. IRC 6020(b)(2) states, “Any return so made and subscribed by the Secretary shall be prima facie good and sufficient for all legal purposes.”
B. This is an SFR.
C. See IRM 20.1.2, Failure To File/Failure To Pay Penalties, to determine applicable penalties.
by Jim Magary | Dec 9, 2015 | Tax Help
If the Internal Revenue Service has prepared a tax return they may do so under the following below sections of the Internal Revenue Code.
Before you read the code sections, if this IRS tax filing has caused you on unfair or undue hardship contact us today.
Many times when IRS prepares your tax returns they are flat-out wrong.
IRS has a process that you can file for what is known as an IRS audit reconsideration.
We are former IRS agents and managers who know the system and can get this tax assessment reversed.
If you are go back taxes we can work out a tax settlement at the same time.
We have over 206 years of professional tax experience and over 65 are working directly for the Internal Revenue Service in the local, district, and regional tax office of the Internal Revenue Service.
We are a full-service firm.
We are available for a free initial phone consultation to take care of your IRS problems in matters.
IRC 6020(a)
1. If the taxpayer will consent to disclose all information necessary for the preparation of the return(s), IRC 6020(a) states, “… the Secretary may prepare such return, which, being signed by such person, may be received by the Secretary as the return of such person.”
This does not include the taxpayer signing a waiver of restriction on assessment (e.g., Form 4549, Income Tax Examination Changes, or Form 870, Waiver of Restrictions on Assessment & Collection of Deficiency in Tax & Acceptance of Overassessment,) which does not constitute a return under IRC 6020(a).
2. Delinquency penalties are applicable.
IRC 6020(b)
1. IRC 6020(b) states, “If any person fails to make any return required by any Internal Revenue Law or regulation made there under at the time prescribed therefore, or makes, willfully or otherwise, a false or fraudulent return, the Secretary shall make such return from his own knowledge and from such information as he can obtain through testimony or otherwise.”
A. IRC 6020(b)(2) states, “Any return so made and subscribed by the Secretary shall be prima facie good and sufficient for all legal purposes.”
B. This is an SFR.
C. See IRM 20.1.2, Failure To File/Failure To Pay Penalties, to determine applicable penalties.
by Fresh Start Tax | Dec 9, 2015 | Tax Help
Former IRS Agents “who know the system” can provide Affordable Employment Tax, Payroll Tax Resolution Service, Since 1982.
We have over 65 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the Internal Revenue Service. We know all IRS systems, methodologies, and settlement formulas to go ahead and get you the very best IRS payroll tax debt relief.
We can help resolve and settle any 941 employment tax debt, business tax debt and review your different options and solutions to fully resolve your business tax debt.
We are true IRS tax debt relief specialist for any type of IRS or state taxes including payroll tax debt.
We have worked thousands of IRS cases since 1982 and are true experts. We can keep the IRS out of your life. You will never have to speak to the IRS.
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. The main reason for this is very simple, this tax is money held in trust in not an actual tax.
Therefore the IRS has special programming to go after those who owe back payroll taxes. IRS when investigating back payroll taxes will look at the individuals responsible for paying the back taxes along with their own personal financial statements.
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. The other tax similar to this is excise tax.
After the IRS creates individual tax assessment for those responsible it often time results in the filing of federal tax liens, bank and wage levy garnishments.
You want to make sure you safeguard your personal rights and if IRS tries to set an individual assessment up against you, make sure you have a season tax professional to give you your best tax defense.
IRS conducts an extensive investigation for payroll taxes which includes looking at business financial statements, business bank accounts and starting an investigation on the individuals who should’ve paid over this trust fund debt to the government.
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.
With over 60 years of direct working experience at the Internal Revenue Service we know every possible tax solution that can get you immediate and permanent tax relief for a payroll tax settlement. Your current financial statement will determine the options in the relief that are available to you.
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.
Being a former IRS agent most companies fail to pay their back payroll taxes simply because of cash flow. IRS will conduct a complete investigation of all business assets and all expenses paid during the process of resolution. You will be required to fill out form 4338, and 433B, see below.
Abatement of Penalties
If you have incurred the wrath of IRS penalties call us today and we will review with you the four types of penalties IRS can assess as a result of tax debt. Each case is different and unique. Upon your free initial tax consultation we will let you know the possibility to get your penalties and interest reduced or resolved.
The Process of Dealing With IRS regarding 941 Payroll Taxes.
IRS Payroll Tax Resolution Services + IRS Affordable Representation + Settlements, Payment, Penalty Reductions
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.
One of the most important things to know about getting a payroll tax debt settlement, payment or moving on in the process is to understand that your current financial statement both business and individual will be the determining factor IRS will use to handle how your case closes.
When Internal Revenue Service reviews a business they also review individuals as well.
Therefore an individual financial statements are required. We know this process inside and out we have worked hundreds and hundreds of cases, we can make this an easy and seamless process for you. IRS will expect a 433B for the business & 433A for the individual.
IRS will expect complete documentation to support all the figures on the financial statements. The financial statement is one of the key documents IRS uses before a taxpayer will get a payroll debt settlement for tax relief.
After IRS reviews your personal and business current financial statement, Internal Revenue Service may determine that you are a:
1. hardship candidate:
Would simply means IRS will suspend any activity on current collections for a couple of years. Interest and penalty will run but IRS will review your case somewhere further down the road.
2. monthly payment agreement candidate:
IRS will enter a payment plan depending on your ability to pay back the tax and completely dependent on your current financial statement with a careful review of your income statement.
3. or, an offer in compromise candidate and IRS payroll settlement:
IRS will consider an offer in compromise to settle payroll tax debt by doing a careful review of the individual’s personal financial statement and business financial statement.
Offer in Compromise Settlement. IRS will expect a fully documented form 433A OIC and 433B OIC along with the 656 OIC. These forms must be filled out correctly in this truly wise to have a season tax professional who have worked many offers in compromise to walk you through the process.
IRS takes an extensive amount of time before they will accept an offer in compromise. You must know the system to get an offer in compromise through.
What You Need to Know:
IRS will next turn to the person or persons responsible for paying the back trust fund taxes. since this was not a tax but monies to be held in trust the IRS code under 6672 states that responsible persons can be held liable for the unpaid trust fund taxes on payroll or 941 taxes.
Who Can Be Responsible for the Trust Fund Taxes Payroll Debt:
One of the unusual features about payroll tax debt is the fact that IRS can collect the trust fund tax debt from the individuals who are responsible for paying the back payroll taxes. This is true with both payroll and excise taxes.
I cannot tell you as a former IRS agent how many trust fund interviews I have had to try to find out who is responsible for paying the taxes. Before I have these interviews I gather a number of facts. I get bank signature cards, corporate resolution and review checks to find out who signed checks to pay bills via the Corporation.
The review of checks and bank signature cards is a good indicator on who you can find to be responsible. to get a more extensive idea of the questions IRS will ask look at IRS form 4180 and you will find an extensive list of questions asked.
The Trust Fund Penalty may be assessed against any person(s) who:
a. Is responsible for collecting or paying withheld income and employment taxes, or for paying collected excise taxes, and
b. 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, but not limited to:
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) or 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 for this to exist, the responsible person (s):
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 wilfulness.
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.
How does IRS Figure the 941 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 IRS asserts the penalty, the IRS can take collection action against your personal assets. For instance, IRS can file a federal tax lien or take levy or seizure action. Seizure actions usually include bank levies and wage garnishment levies.
Call us today for a free initial consultation and we will walk you through the process if you owe past-due IRS payroll taxes.
Also you are going to want to make sure you are current on all your individual tax obligations and filing of your 1040 taxes.
During the course of any IRS investigation they will conduct a full compliance check which means they will make sure all personal and business taxes are up to date including current depositories are estimated payments.
We are a full service tax firm with a specialty in IRS taxes with the complete expertise and back payroll tax problems.
When you call our office you will speak to a true IRS tax expert who specializes in the resolution of IRS tax problems. Here the truth today and start the process of resolving your back payroll, business or individual tax debt.
IRS Payroll Tax Resolution Services + IRS Affordable Representation + Settlements, Payment, Penalty Reductions
Employment Tax Information
Employers must deposit and report employment taxes.
At the end of the year, you must prepare and file Form W-2, Wage and Tax Statement to report wages, tips and other compensation paid to an employee.
Use Form W-3, Transmittal of Wage and Tax Statements to transmit Forms W-2 to the Social Security Administration.
Federal Income Tax
Employers generally must withhold federal income tax from employees’ wages. To figure out how much tax to withhold, use the employee’s Form W-4 and withholding tables described in Publication 15, Employer’s Tax Guide.
You must deposit your withholding. The requirements for depositing, as explained in Publication 15, vary based on your business and the amount you withhold.
Social Security and Medicare Taxes
Employers generally must withhold part of social security and Medicare taxes from employees’ wages and you pay a matching amount yourself. To figure out how much tax to withhold, use the employee’s Form W-4 and the methods described in Publication 15, Employer’s Tax Guide and Publication 15-A, Employer’s Supplemental Tax Guide.
You must deposit the wages you withhold. See requirements for depositing.
For 2013, the employee tax rate for social security increased to 6.2%. The social security wage base limit increased to $113,700.
Additional Medicare Tax
Beginning January 1, 2013, employers are responsible for withholding the 0.9% Additional Medicare Tax on an employee’s wages and compensation that exceeds a threshold amount based on the employee’s filing status. You are required to begin withholding Additional Medicare Tax in the pay period in which it pays wages and compensation in excess of the threshold amount to an employee. There is no employer match for the Additional
Medicare Tax.
.
Federal Unemployment (FUTA) Tax
Employers report and pay FUTA tax separately from Federal Income tax, and social security and Medicare taxes. You pay FUTA tax only from your own funds. Employees do not pay this tax or have it withheld from their pay. Refer to Publication 15, Employer’s Tax Guide and Publication 15-A, Employer’s Supplemental Tax Guide for more information on FUTA tax.
Self-Employment Tax
Self-Employment Tax (SE tax) is a social security and Medicare tax primarily for individuals who work for themselves. It is similar to the social security and Medicare taxes withheld from the pay of most employe
by Jim Magary | Dec 9, 2015 | Tax Help
Former IRS Agents “who know the system” can provide Affordable Employment Tax, Payroll Tax Resolution Service, Since 1982.
We have over 65 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the Internal Revenue Service. We know all IRS systems, methodologies, and settlement formulas to go ahead and get you the very best IRS payroll tax debt relief.
We can help resolve and settle any 941 employment tax debt, business tax debt and review your different options and solutions to fully resolve your business tax debt.
We are true IRS tax debt relief specialist for any type of IRS or state taxes including payroll tax debt.
We have worked thousands of IRS cases since 1982 and are true experts. We can keep the IRS out of your life. You will never have to speak to the IRS.
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. The main reason for this is very simple, this tax is money held in trust in not an actual tax.
Therefore the IRS has special programming to go after those who owe back payroll taxes. IRS when investigating back payroll taxes will look at the individuals responsible for paying the back taxes along with their own personal financial statements.
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. The other tax similar to this is excise tax.
After the IRS creates individual tax assessment for those responsible it often time results in the filing of federal tax liens, bank and wage levy garnishments.
You want to make sure you safeguard your personal rights and if IRS tries to set an individual assessment up against you, make sure you have a season tax professional to give you your best tax defense.
IRS conducts an extensive investigation for payroll taxes which includes looking at business financial statements, business bank accounts and starting an investigation on the individuals who should’ve paid over this trust fund debt to the government.
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.
With over 60 years of direct working experience at the Internal Revenue Service we know every possible tax solution that can get you immediate and permanent tax relief for a payroll tax settlement. Your current financial statement will determine the options in the relief that are available to you.
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.
Being a former IRS agent most companies fail to pay their back payroll taxes simply because of cash flow. IRS will conduct a complete investigation of all business assets and all expenses paid during the process of resolution. You will be required to fill out form 4338, and 433B, see below.
Abatement of Penalties
If you have incurred the wrath of IRS penalties call us today and we will review with you the four types of penalties IRS can assess as a result of tax debt. Each case is different and unique. Upon your free initial tax consultation we will let you know the possibility to get your penalties and interest reduced or resolved.
The Process of Dealing With IRS regarding 941 Payroll Taxes.
IRS Payroll Tax Resolution Services + IRS Affordable Representation + Settlements, Payment, Penalty Reductions
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.
One of the most important things to know about getting a payroll tax debt settlement, payment or moving on in the process is to understand that your current financial statement both business and individual will be the determining factor IRS will use to handle how your case closes.
When Internal Revenue Service reviews a business they also review individuals as well.
Therefore an individual financial statements are required. We know this process inside and out we have worked hundreds and hundreds of cases, we can make this an easy and seamless process for you. IRS will expect a 433B for the business & 433A for the individual.
IRS will expect complete documentation to support all the figures on the financial statements. The financial statement is one of the key documents IRS uses before a taxpayer will get a payroll debt settlement for tax relief.
After IRS reviews your personal and business current financial statement, Internal Revenue Service may determine that you are a:
1. hardship candidate:
Would simply means IRS will suspend any activity on current collections for a couple of years. Interest and penalty will run but IRS will review your case somewhere further down the road.
2. monthly payment agreement candidate:
IRS will enter a payment plan depending on your ability to pay back the tax and completely dependent on your current financial statement with a careful review of your income statement.
3. or, an offer in compromise candidate and IRS payroll settlement:
IRS will consider an offer in compromise to settle payroll tax debt by doing a careful review of the individual’s personal financial statement and business financial statement.
Offer in Compromise Settlement. IRS will expect a fully documented form 433A OIC and 433B OIC along with the 656 OIC. These forms must be filled out correctly in this truly wise to have a season tax professional who have worked many offers in compromise to walk you through the process.
IRS takes an extensive amount of time before they will accept an offer in compromise. You must know the system to get an offer in compromise through.
What You Need to Know:
IRS will next turn to the person or persons responsible for paying the back trust fund taxes. since this was not a tax but monies to be held in trust the IRS code under 6672 states that responsible persons can be held liable for the unpaid trust fund taxes on payroll or 941 taxes.
Who Can Be Responsible for the Trust Fund Taxes Payroll Debt:
One of the unusual features about payroll tax debt is the fact that IRS can collect the trust fund tax debt from the individuals who are responsible for paying the back payroll taxes. This is true with both payroll and excise taxes.
I cannot tell you as a former IRS agent how many trust fund interviews I have had to try to find out who is responsible for paying the taxes. Before I have these interviews I gather a number of facts. I get bank signature cards, corporate resolution and review checks to find out who signed checks to pay bills via the Corporation.
The review of checks and bank signature cards is a good indicator on who you can find to be responsible. to get a more extensive idea of the questions IRS will ask look at IRS form 4180 and you will find an extensive list of questions asked.
The Trust Fund Penalty may be assessed against any person(s) who:
a. Is responsible for collecting or paying withheld income and employment taxes, or for paying collected excise taxes, and
b. 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, but not limited to:
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) or 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 for this to exist, the responsible person (s):
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 wilfulness.
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.
How does IRS Figure the 941 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 IRS asserts the penalty, the IRS can take collection action against your personal assets. For instance, IRS can file a federal tax lien or take levy or seizure action. Seizure actions usually include bank levies and wage garnishment levies.
Call us today for a free initial consultation and we will walk you through the process if you owe past-due IRS payroll taxes.
Also you are going to want to make sure you are current on all your individual tax obligations and filing of your 1040 taxes.
During the course of any IRS investigation they will conduct a full compliance check which means they will make sure all personal and business taxes are up to date including current depositories are estimated payments.
We are a full service tax firm with a specialty in IRS taxes with the complete expertise and back payroll tax problems.
When you call our office you will speak to a true IRS tax expert who specializes in the resolution of IRS tax problems. Here the truth today and start the process of resolving your back payroll, business or individual tax debt.
IRS Payroll Tax Resolution Services + IRS Affordable Representation + Settlements, Payment, Penalty Reductions
Employment Tax Information
Employers must deposit and report employment taxes.
At the end of the year, you must prepare and file Form W-2, Wage and Tax Statement to report wages, tips and other compensation paid to an employee.
Use Form W-3, Transmittal of Wage and Tax Statements to transmit Forms W-2 to the Social Security Administration.
Federal Income Tax
Employers generally must withhold federal income tax from employees’ wages. To figure out how much tax to withhold, use the employee’s Form W-4 and withholding tables described in Publication 15, Employer’s Tax Guide.
You must deposit your withholding. The requirements for depositing, as explained in Publication 15, vary based on your business and the amount you withhold.
Social Security and Medicare Taxes
Employers generally must withhold part of social security and Medicare taxes from employees’ wages and you pay a matching amount yourself. To figure out how much tax to withhold, use the employee’s Form W-4 and the methods described in Publication 15, Employer’s Tax Guide and Publication 15-A, Employer’s Supplemental Tax Guide.
You must deposit the wages you withhold. See requirements for depositing.
For 2013, the employee tax rate for social security increased to 6.2%. The social security wage base limit increased to $113,700.
Additional Medicare Tax
Beginning January 1, 2013, employers are responsible for withholding the 0.9% Additional Medicare Tax on an employee’s wages and compensation that exceeds a threshold amount based on the employee’s filing status. You are required to begin withholding Additional Medicare Tax in the pay period in which it pays wages and compensation in excess of the threshold amount to an employee. There is no employer match for the Additional
Medicare Tax.
.
Federal Unemployment (FUTA) Tax
Employers report and pay FUTA tax separately from Federal Income tax, and social security and Medicare taxes. You pay FUTA tax only from your own funds. Employees do not pay this tax or have it withheld from their pay. Refer to Publication 15, Employer’s Tax Guide and Publication 15-A, Employer’s Supplemental Tax Guide for more information on FUTA tax.
Self-Employment Tax
Self-Employment Tax (SE tax) is a social security and Medicare tax primarily for individuals who work for themselves. It is similar to the social security and Medicare taxes withheld from the pay of most employe
by Fresh Start Tax | Dec 9, 2015 | Tax Help
Affordable IRS Tax Settlement Relief Company, Former IRS Agents & Managers who know the system. Since 1982.
As a former IRS agent in teaching instructor I taught the offer in compromise or tax debt settlement program to seasoned and new IRS agents.
I know the system inside and out and will offer to you a free initial consultation evaluation to see if an IRS tax settlement is in your future.
Because of our years of experience in working for the Internal Revenue Service we can assure you of the lowest possible tax settlement if you are a suitable candidate for offer in compromise.
If you wish to settle back IRS taxes you can call us today to learn about the different systems IRS uses to settle back tax debt.
Most likely, your current financial statement will determine the outcome therefore the submission preparation of your financial statement is the key to success.
We have a combined 65 years of direct work experience at the Internal Revenue Service. We are composed of tax attorneys, CPAs, and former federal and state tax agents.
If you have any back tax issues with the Internal Revenue Service or have not filed back income/business tax returns, we can settle your case all at the same time.
As a former IRS revenue officer I have worked hundreds of cases and can be very instrumentally in the settling of your case.
IRS Tax Relief:
When IRS takes a current financial statement there are three options to get IRS tax relief.
IRS as a general rule will place your case into a current hardship, ask for monthly payment agreement or accept an offer in compromise.
Your current documented financial statement will dictate how IRS will take if you take you off the IRS enforcement computer.
Why is Fresh Start Tax LLC is a much different firm than other IRS Settlement Companies.
We do our own work in-house, most companies sub their work out to backend offices.
We have over 65 years of direct work experience working in the local, district and regional tax offices of the IRS. We have worked as managers, instructors, and teaching agents.
Some of our staff have put on joint forums with the Internal Revenue Service. We have an excellent working relationship with Uncle Sam.
Offer in Compromise + IRS Settlements
If you want to settle your back taxes, IRS will require a current financial statement along with full documentation.
IRS will require form 433OIC and form 656OIC to be fully documented and complete before the submission of an offer in compromise. you should understand that an offer in compromise is a complicated process and program. It normally takes six months to have these cases worked and the settlement issued.
You should also know any accepted offer in compromise is open for public inspection. at a regional tax offices of the IRS they keep those cases open for one year.
Select a payment option for IRS Settlements for IRS Tax Relief
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. See your application package for details.
Understand the OIC Process
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.
Filing Back or Unfiled, Old or Past Due Tax Returns
Over 16 million taxpayers do not file annual tax returns. At some point if you do not file the Internal Revenue Service will catch up with you do not keep your head in the sand.
If you have not filed tax returns we can prepare your returns with little or no records do our reconstructive methods we learned IRS.
If you did not file your back tax returns, IRS can prepare them for you and you will owe more money than you should. IRS as the ability under 6020B to file for you.
If you do not respond to the IRS bills and notices they send out as a result of filing your tax returns IRS will follow-up with tax levies in the filing a federal tax liens.
We can prepare your back or on file tax returns with little or no tax records.
If the IRS has already filed your back tax returns and they are grossly inaccurate, call us today for us to file for an IRS audit reconsideration.
Do not be afraid of filing your tax returns with IRS because at some point in time they will catch up with you.
Tax Companies + IRS Tax Relief + Tax Debt Settlement + Liens + Levy’s + Audits + Affordable IRS Representation, Former IRS
