by Jim Magary | Nov 17, 2015 | Tax Help
Affordable IRS Tax Experts. We have been in practice since 1982, Former IRS, A plus rated by the BBB.
We can resolve IRS Tax Debt including Payroll Tax Debt. Being former IRS agents we know the exact process and the most affordable and quickest way to resolve these tax issues.
If you owe back IRS tax debt and wish to settle your case with the IRS, call us today for a free initial tax consultation.
When you call our office you will speak directly to former IRS agents, managers and tax instructors that have over 60 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the IRS.
Once we have reviewed your current financial statement as a general rule we will tell you exactly how your case is going to close.
We have worked so many cases we know the IRS and state tax tendencies.
We can review with you the best possible way to end your payroll tax problems, make an IRS payment plan, how to remove an IRS tax levy and to represent you during an IRS tax audit.
For those of you who need to file tax returns whether current or back years, call us today and we will walk you through the process of our learning experiences that total 206 years.
We can file your back tax returns with little or few records.
IRS Installment Agreements or IRS Payment Plan Agreements
Last year the Internal Revenue Service granted close to 6.5 million IRS payment plans, installment agreements and streamlined payment plans to taxpayers. Payroll agreements have different standards than individual agreements.
Your current financial statement will determine if you are installment agreement candidate.
Keep in mind your financial statement will need to be fully documented Bank statements and copy of all expenses. You must be able to fully verify income.
The Internal Revenue Service will conduct a full review on your financial statement.
Call us today for free initial tax consultation and we will walk you through the process to get you an IRS payment plan, installment agreement or tell you how to make an affordable monthly streamlined payment with the Internal Revenue Service.
One of the first things reduced to find out whether you can settle your tax debt for pennies on the dollar.
IRS TAX DEBT SETTLEMENTS
We can also talk you about the possible tax solution of settling your tax debt through the offer in compromise program, that is settling your tax debt for pennies on the dollar.
The way you can settle your tax debt for pennies on the dollar is through the offer in compromise program.
When you call our office you will speak directly to a former IRS agent who both worked and taught the program for IRS. The writer of this blog is a former IRS agent and teaching instructor.
One of the keys to the successful completion acceptance of an offer in compromise is to understand the process.
You can follow the pre-qualifier tool on our website and you can find out firsthand if you are a qualified candidate for the program.
You should never give your money to a tax firm unless you have some assurance your offer has a chance of acceptance.
If you owe payroll 941 taxes
If you owe back payroll taxes the Internal Revenue Service will require both business and individual. both of these statements will be completely documented. IRS has the right to assert the trust fund recovery penalty against responsible offers of payroll taxes are outstanding. It is critical in our initial tax consultation we talk to you about the assessment of trust fund taxes against responsible parties.
Removals and Stopping an IRS Tax Levies, IRS Bank Levy, IRS Wage Garnishments Levies
If you wish to remove an IRS tax levy will need to give IRS a current financial statement on form 433F.
IRS will require that financial statement to be completely documented and verified.
Within 24 hours of receiving your current financial statement as a general rule we can get your bank or wage levy garnishment released.
We will let you know about the IRS national standard program so you understand the process of how IRS settles tax debt.
Need to file back or past due tax returns
As a general rule the Internal Revenue Service will close no open case or module if you have not filed all your back tax returns.
You could have a former IRS agent who knows the system prepare your back tax returns with little or few records. We can help audit proof your tax return.
We are A+ rated by the Better Business Bureau, since 1982.
Free initial tax consultations and assessments.
Owe Past Due IRS Taxes + Back Payroll Taxes + Trust Fund Taxes + IRS Payment Plans + Settle Debt + Unfiled Back Tax Returns + Former IRS
by Fresh Start Tax | Nov 17, 2015 | Tax Help
Affordable IRS Tax Experts. We have been in practice since 1982, Former IRS, A plus rated by the BBB.
We can resolve IRS Tax Debt including Payroll Tax Debt. Being former IRS agents we know the exact process and the most affordable and quickest way to resolve these tax issues.
If you owe back IRS tax debt and wish to settle your case with the IRS, call us today for a free initial tax consultation.
When you call our office you will speak directly to former IRS agents, managers and tax instructors that have over 60 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the IRS.
Once we have reviewed your current financial statement as a general rule we will tell you exactly how your case is going to close.
We have worked so many cases we know the IRS and state tax tendencies.
We can review with you the best possible way to end your payroll tax problems, make an IRS payment plan, how to remove an IRS tax levy and to represent you during an IRS tax audit.
For those of you who need to file tax returns whether current or back years, call us today and we will walk you through the process of our learning experiences that total 206 years.
We can file your back tax returns with little or few records.
IRS Installment Agreements or IRS Payment Plan Agreements
Last year the Internal Revenue Service granted close to 6.5 million IRS payment plans, installment agreements and streamlined payment plans to taxpayers. Payroll agreements have different standards than individual agreements.
Your current financial statement will determine if you are installment agreement candidate.
Keep in mind your financial statement will need to be fully documented Bank statements and copy of all expenses. You must be able to fully verify income.
The Internal Revenue Service will conduct a full review on your financial statement.
Call us today for free initial tax consultation and we will walk you through the process to get you an IRS payment plan, installment agreement or tell you how to make an affordable monthly streamlined payment with the Internal Revenue Service.
One of the first things reduced to find out whether you can settle your tax debt for pennies on the dollar.
IRS TAX DEBT SETTLEMENTS
We can also talk you about the possible tax solution of settling your tax debt through the offer in compromise program, that is settling your tax debt for pennies on the dollar.
The way you can settle your tax debt for pennies on the dollar is through the offer in compromise program.
When you call our office you will speak directly to a former IRS agent who both worked and taught the program for IRS. The writer of this blog is a former IRS agent and teaching instructor.
One of the keys to the successful completion acceptance of an offer in compromise is to understand the process.
You can follow the pre-qualifier tool on our website and you can find out firsthand if you are a qualified candidate for the program.
You should never give your money to a tax firm unless you have some assurance your offer has a chance of acceptance.
If you owe payroll 941 taxes
If you owe back payroll taxes the Internal Revenue Service will require both business and individual. both of these statements will be completely documented. IRS has the right to assert the trust fund recovery penalty against responsible offers of payroll taxes are outstanding. It is critical in our initial tax consultation we talk to you about the assessment of trust fund taxes against responsible parties.
Removals and Stopping an IRS Tax Levies, IRS Bank Levy, IRS Wage Garnishments Levies
If you wish to remove an IRS tax levy will need to give IRS a current financial statement on form 433F.
IRS will require that financial statement to be completely documented and verified.
Within 24 hours of receiving your current financial statement as a general rule we can get your bank or wage levy garnishment released.
We will let you know about the IRS national standard program so you understand the process of how IRS settles tax debt.
Need to file back or past due tax returns
As a general rule the Internal Revenue Service will close no open case or module if you have not filed all your back tax returns.
You could have a former IRS agent who knows the system prepare your back tax returns with little or few records. We can help audit proof your tax return.
We are A+ rated by the Better Business Bureau, since 1982.
Free initial tax consultations and assessments.
Owe Past Due IRS Taxes + Back Payroll Taxes + Trust Fund Taxes + IRS Payment Plans + Settle Debt + Unfiled Back Tax Returns + Former IRS
by Jim Magary | Nov 16, 2015 | Tax Help
Get Back in the System Worry Free + We are affordable former IRS agents and managers who know the system. Since 1982, you will never speak to the IRS.
We can file all late tax years tax returns and get you back in the system.
If you are will owe tax, we will work out tax settlement as well.
Call us today for free initial tax consultation and find out the exact process.
16 million taxpayers do not file annual tax returns and if you don’t file prior year’s tax returns at some point in time IRS will contact you by mail or a knock on the door.
You not have to worry, as former IRS agents we can file a power of attorney and work out all the arrangements so you can be worry free.
If you have lost your tax records there is no need to worry.
As former IRS agents we are affordable tax experts for the reconstruction of late or back tax returns.
We know the ways and the systems of the IRS and know how to compute income tax or corporate tax returns in which records have been lost misplaced or destroyed.
Lost Tax Records are no problem for us.We know the System.
There is a very definitive process to prepare tax returns with lost records and we understand and have personal knowledge on how that system works.
You can call us today for a free initial tax consultation and see just how this process works. we’re affordable professional firm that can get you back into the system worry free.
As former IRS agents and managers we know the exact way to make this a seamless and easy process for you.
With or without tax records we can file your back tax returns, if you’re going to owe back taxes we can work out a tax settlement for you so there are no excuses for you not to pick up the phone call us and get this problem taken care of once and for all.
We have over 206 years of professional tax experience, over 65 years of working directly for Internal Revenue Service and have been in private practice since 1982.
How many Back or Past Due Tax Returns on prior years ?
You’ll hear advice from all sorts of tax professionals on the issue of “how far back should I file my on file for back tax years.”
The good news is, as a general rule you do not have to go back that far.
IRS has a policy statement regarding delinquent tax returns.
1.2.14.1.18 (08-04-2006)
Policy Statement 5-133
1. Delinquent or prior years tax returns—enforcement of filing requirements
2. Taxpayers failing to file tax returns will be requested to prepare and file all such returns except in instances where there is an indication that the taxpayer’s failure to file the required return or returns was willful or if there is any other indication of fraud.
All delinquent returns submitted by a taxpayer, whether upon his/her own initiative or at the request of a Service representative, will be accepted.
However, if indications of wilfulness or fraud exist, the special procedures for handling such returns must be followed.
3. Where it is determined that required returns have not been filed, the extent to which compliance for prior years will be enforced will be determined by reference to factors ensuring compliance and evenhanded administration of staffing and other Service resources.
4. Factors to be taken into account include, but are not limited to:
a. prior history of noncompliance,
b. existence of income from illegal sources, effect upon voluntary compliance, anticipated revenue, and collectibility, in relation to the time and effort required to determine tax due.
Consideration will also be given any special circumstances existing in the case of a particular taxpayer, class of taxpayer, or industry, or which may be peculiar to the class of tax involved.
5. Normally, application of the above criteria will result in enforcement of delinquency procedures for not more than six (6) years. there are special cases in which the IRS will ask for more than six years. Those cases generally involve those with a great deal of access with a high potential of collection and probability. There are very few cases that meet this criteria.
Many times we file only 3 back years. Each case is different and depending on various factors you will make determinations on the number of back years we will file.
Enforcement beyond such period will not be undertaken without prior managerial approval.
Also, if delinquency procedures are not to be enforced for the full six-year period of delinquency, prior managerial approval must be secured.
Managers are reluctant to require more back tax returns unless there is an obvious ability to pay the back tax.
The bad news is many taxpayers who had withholding taken out have lost a refund checks. You can file and claim refunds however for the last three years.
Also if you not filed your W-2s and tax returns you can lose valuable Social Security credit.
What happens if you have lost or misplaced your prior years tax records?
If you have back tax returns to prepare IRS has income transcripts available to prepare your tax returns.
The IRS keeps all back W-2s and 1099’s on record for the past seven years. Simply by ordering an IRS tax transcript we can determine all the reportable income IRS has on your record. Therefore delinquent tax filing or Late or Previous Years are no problem.
Generally income tax reconstruction records are put together by looking at various factors:
1. financial statement,
2. expense analysis,
3. bank statements,
4. credit card statements,
5. IRS records,
6. various other factors to back into income, and,
7. Lastly an overview of Due Diligence of the asset base.
As former IRS agents we have learned to prepare tax returns under reconstructive methods.
Why does IRS only require back 6 years on back tax returns?
The answer is very simple, manpower. By next year, the entire IRS workforce will be cut down by one-third due to attrition and budget cuts.
That does not mean IRS is not going to find you. At some point in time you will get that nasty gram in the mail.
As a general rule, the only time IRS will go past six years is if a person has significant assets or can pay all the back years. In those types of cases IRS may ask you to file all your tax returns.
But as a general rule, there are so many outstanding cases, so much money to be collected and so many back tax returns that have to be filed, the IRS has put boundaries on past-due tax years is six.
What Happens if you Owe Back Taxes = Not to Worry + Tax Settlements
Do not be afraid if you owe back taxes.
The Internal Revenue Service will simply take a financial statement on form 433F or 433A and make a determination how they will want the back taxes paid.
As a general rule, after IRS reviews your financial statement they will either place your case into a currently not collectible status if your expenses exceed your income, ask you to make a monthly installment payment after they apply the national standards or they may suggest that you consider an offer in compromise to settle your case.
I am I going to Jail? Doubtful
The general rule of thumb is to contact IRS before IRS knocks on the door.
Once you have come forth on a voluntary basis it is extremely doubtful that IRS will ever go after any taxpayer criminally unless there is fraud involved.
Remember the IRS wants voluntary compliance and our tax system is based on that principle.
Unless unique situations exist do not be stuck in criminal fear. In the entire United States, and abroad, the IRS as a general rule convicts a total of 3300 taxpayers for a variety of criminal charges per year.
Call us today for a free tax consult.
We are a full service tax firm with all work being done in-house.
We have been in private practice since 1982 in all cases are handled with affordable expert care by true tax professionals.
File Prior Years Tax Returns + Former IRS Agents + Get Back into System Worry Free+ Get Back into System Worry Free
by Fresh Start Tax | Nov 16, 2015 | Tax Help
We are affordable former IRS agents and managers who know the system. Since 1982, stop the worry, you will never speak to the IRS.
We can file all prior year back tax returns and get you back in the system.
If you are no tax will work out tax settlement as well.
Call us today for free initial tax consultation and find out the exact process.
16 million taxpayers do not file annual tax returns and if you don’t file prior year’s tax returns at some point in time IRS will contact you by mail or a knock on the door.
You not have to worry, as former IRS agents we can file a power of attorney and work out all the arrangements so you can be worry free.
If you have lost your tax records there is no need to worry.
As former IRS agents we are affordable tax experts for the reconstruction of tax returns.
We know the ways and the systems of internal revenue service and know how to compute income tax or corporate tax returns if records have been lost misplaced or destroyed.
Lost Tax Records are no problem for us + We know the System.
There is a very definitive process to prepare tax returns with lost records and we understand and have personal knowledge on how that system works.
You can call us today for a free initial tax consultation and see just how this process works. we’re affordable professional firm that can get you back into the system worry free.
As former IRS agents and managers we know the exact way to make this a seamless and easy process for you.
With or without tax records we can file your back tax returns, if you’re going to owe back taxes we can work out a tax settlement for you so there are no excuses for you not to pick up the phone call us and get this problem taken care of once and for all.
We have over 206 years of professional tax experience, over 65 years of working directly for Internal Revenue Service and have been in private practice since 1982.
How many Back or Past Due Tax Returns on prior years ?
You’ll hear advice from all sorts of tax professionals on the issue of “how far back should I file my on file for back tax years.”
The good news is, as a general rule you do not have to go back that far.
IRS has a policy statement regarding delinquent or late tax returns.
1.2.14.1.18 (08-04-2006)
IRS Policy Statement 5-133
1. Delinquent, late or prior years tax returns—enforcement of filing requirements
2. Taxpayers failing to file tax returns will be requested to prepare and file all such returns except in instances where there is an indication that the taxpayer’s failure to file the required return or returns was willful or if there is any other indication of fraud.
All delinquent returns submitted by a taxpayer, whether upon his/her own initiative or at the request of a Service representative, will be accepted.
However, if indications of wilfulness or fraud exist, the special procedures for handling such returns must be followed.
3. Where it is determined that required returns have not been filed, the extent to which compliance for prior years will be enforced will be determined by reference to factors ensuring compliance and evenhanded administration of staffing and other Service resources.
4. Factors to be taken into account include, but are not limited to:
a. prior history of noncompliance,
b. existence of income from illegal sources, effect upon voluntary compliance, anticipated revenue, and collectibility, in relation to the time and effort required to determine tax due.
Consideration can and will also be given any special circumstances existing in the case of a particular taxpayer, class of taxpayer, or industry, or which may be peculiar to the class of tax involved.
5. Normally, application of the above criteria will result in enforcement of delinquency procedures for not more than six (6) years. there are special cases in which the IRS will ask for more than six years. Those cases generally involve those with a great deal of access with a high potential of collection and probability. There are very few cases that meet this criteria.
Many times we file only 3 back years.
Each case is different and depending on various factors you will make determinations on the number of back years we will file.
Enforcement beyond such period will not be undertaken without prior managerial approval.
Also, if delinquency procedures are not to be enforced for the full six-year period of delinquency, prior managerial approval must be secured.
Managers are reluctant to require more back tax returns unless there is an obvious ability to pay the back tax.
The bad news is many taxpayers who had withholding taken out have lost a refund checks. You can file and claim refunds however for the last three years.
Also if you not filed your W-2s and tax returns you can lose valuable Social Security credit.
What happens if you have lost or misplaced your prior years tax records?
If you have back tax returns to prepare IRS has income transcripts available to prepare your tax returns.
The IRS keeps all back W-2s and 1099’s on record for the past seven years. Simply by ordering an IRS tax transcript we can determine all the reportable income IRS has on your record. Therefore delinquent tax filing or Late or Previous Years are no problem.
Generally income tax reconstruction records are put together by looking at various factors:
1. financial statement,
2. expense analysis,
3. bank statements,
4. credit card statements,
5. IRS records,
6. various other factors to back into income, and,
7. lastly an overview of Due Diligence of the asset base.
As former IRS agents we have learned to prepare tax returns under reconstructive methods. We are true experts for tax reconstruction and we can make sure you pay the lowest amount allowed by law.
Why does IRS only require back 6 years on back tax returns?
The answer is very simple, manpower. By next year, the entire IRS workforce will be cut down by one-third due to attrition and budget cuts.
That does not mean IRS is not going to find you. At some point in time you will get that nasty gram in the mail.
As a general rule, the only time IRS will go past six years is if a person has significant assets or can pay all the back years. In those types of cases IRS may ask you to file all your tax returns.
But as a general rule, there are so many outstanding cases, so much money to be collected and so many back tax returns that have to be filed, the IRS has put boundaries on past-due tax years is six.
What Happens if you Owe Back Taxes
Do not be afraid if you owe back taxes.
The Internal Revenue Service will simply take a financial statement on form 433F or 433A and make a determination how they will want the back taxes paid.
As a general rule, after IRS reviews your financial statement they will either place your case into a currently not collectible status if your expenses exceed your income, ask you to make a monthly installment payment after they apply the national standards or they may suggest that you consider an offer in compromise to settle your case.
For taxpayers who that have back tax problems, the current collection inventory shows that 40% are put into a non-collectible status, 6.5 million taxpayers enter payment agreements and 38,000 have accepted offers in compromise tax settlements.
I am I going to Jail? Doubtful
The general rule of thumb is to contact IRS before IRS knocks on the door.
Once you have come forth on a voluntary basis it is extremely doubtful that IRS will ever go after any taxpayer criminally unless there is fraud involved.
Remember the IRS wants voluntary compliance and our tax system is based on that principle.
Unless unique situations exist do not be stuck in criminal fear. In the entire United States, and abroad, the IRS as a general rule convicts a total of 3300 taxpayers for a variety of criminal charges per year.
Call us today for a free tax consult.
We are a full service tax firm with all work being done in-house.
We have been in private practice since 1982 and all cases are handled by affordable experts and by true tax professionals.
File Prior Years Tax Returns + Former IRS Agents + Get Back into System Worry Free+ Get Back into System Worry Free
by Fresh Start Tax | Nov 16, 2015 | Tax Help
Affordable IRS Tax Experts, after one free tax consult we can ease your mind and take away your worry.
Many of these taxpayers have a fear of filing back tax returns thinking the IRS’s is going come out and put them in jail.
As a former IRS agent and teaching instructor I have worked hundreds if not thousands of cases both as a former agent and being in private practice.
You’ll hear advice from all sorts of tax professionals on the issue of “how far back should I file my on file for back tax years.”
The good news is, as a general rule you do not have to go back that far.
IRS has a policy statement regarding delinquent tax returns.
1.2.14.1.18 (08-04-2006)
Policy Statement 5-133
1. Delinquent returns—enforcement of filing requirements
2. Taxpayers failing to file tax returns will be requested to prepare and file all such returns except in instances where there is an indication that the taxpayer’s failure to file the required return or returns was willful or if there is any other indication of fraud.
All delinquent returns submitted by a taxpayer, whether upon his/her own initiative or at the request of a Service representative, will be accepted. However, if indications of wilfulness or fraud exist, the special procedures for handling such returns must be followed.
3. Where it is determined that required returns have not been filed, the extent to which compliance for prior years will be enforced will be determined by reference to factors ensuring compliance and evenhanded administration of staffing and other Service resources.
4. Factors to be taken into account include, but are not limited to: prior history of noncompliance, existence of income from illegal sources, effect upon voluntary compliance, anticipated revenue, and collectibility, in relation to the time and effort required to determine tax due.
Consideration will also be given any special circumstances existing in the case of a particular taxpayer, class of taxpayer, or industry, or which may be peculiar to the class of tax involved.
5. Normally, application of the above criteria will result in enforcement of delinquency procedures for not more than six (6) years.
Enforcement beyond such period will not be undertaken without prior managerial approval.
Also, if delinquency procedures are not to be enforced for the full six-year period of delinquency, prior managerial approval must be secured.
Did You lose a Possible Tax Refunds
The bad news is many taxpayers who had withholding taken out have lost a refund checks. You can file and claim refunds however for the last three years.
Also if you not filed your W-2s and tax returns you can lose valuable Social Security credit.
How Many Years Should I File For Back Taxes + What happens if you have lost your tax records?
If you have back tax returns to prepare IRS has income transcripts available to prepare your tax returns.
The IRS keeps all back W-2s and 1099’s on record for the past seven years. For those of you who need to file back tax returns you can simply call us and we can help reconstruct your tax returns from little or no records.
As former IRS agents we have learned to prepare tax returns under reconstructive methods.
Why does IRS only require back 6 years?
The answer is very simple, manpower.
As a general rule, the only time IRS will go past six years is if a person has significant assets or can pay all the back years. In those types of cases IRS may ask you to file all your tax returns.
But as a general rule, there are so many outstanding cases, so much money to be collected and so many back tax returns that have to be filed, the IRS has put boundaries on past-due tax years is six. if there is fraud involved there is no statute.
What Happens If You Owe Back Taxes
Do not be afraid if you owe back taxes.
The Internal Revenue Service will simply take a financial statement on form 433F or 433A and make a determination how they will want the back taxes paid.
As a general rule, after IRS reviews your financial statement they will either place your case into a currently not collectible status if your expenses exceed your income, ask you to make a monthly installment payment after they apply the national standards or they may suggest that you consider an offer in compromise to settle your case.
Will IRS go after me criminally If I do not File Back Taxes?
The general rule of thumb is to contact IRS before IRS knocks on the door.
Once you have come forth on a voluntary basis it is extremely doubtful that IRS will ever go after any taxpayer criminally unless there is fraud involved.
Remember the IRS wants voluntary compliance and our tax system is based on that principle.
Unless unique situations exist do not be stuck in criminal fear. In the entire United States, and abroad, the IRS as a general rule convicts a total of 3300 taxpayers for a variety of criminal charges per year.
Keep in mind, if you have committed tax fraud this is a different story.
Call us today for a free tax consult.You’ll speak to true IRS tax professional and experts who could truly solve your problem. You will never have to speak to IRS.
Since 1982, A+ rated by the Better Business Bureau, over 206 years of professional tax experience.
How Many Years Should I File For Back Taxes + Affordable Former IRS Tax Help + Settle With IRS
by Jim Magary | Nov 16, 2015 | Tax Help
Former IRS Agents who know the system, Stop the Worry, the Affordable Tax Experts.
We are affordable and experienced tax experts for those who need to file back tax returns.
As former IRS agents, we know the system inside and out and have worked on both sides. We know the system thoroughly and can make this a worry free and seamless process.
Stop the worry today!
If you need to file old tax returns and are afraid to file back taxes, stop all the worry and let former IRS agents who know the system help take care and settle this matter once and for all.
You will be worry free as soon as you call our office.
As former IRS agents we know and understand the system and can make this a very simple process. Whether you have tax records or whether they been lost destroyed, we can still settle your case with the Internal Revenue Service because of our years of experience working the system.
If you have lost your tax records there is no need to worry.
As former IRS agents we are affordable tax experts for the reconstruction of tax returns.
We know the ways and the systems of internal revenue service and know how to compute income tax or corporate tax returns of records have been lost misplaced or destroyed.
Lost Tax Records are no problem for us.
There is a very definitive process to prepare tax returns with lost records and we understand and have personal knowledge on how that system works.
You can call us today for a free initial tax consultation and see just how this process works. we’re affordable professional firm that can get you back into the system worry free.
As former IRS agents and managers we know the exact way to make this a seamless and easy process for you.
With or without tax records we can file your back tax returns, if you’re going to owe back taxes we can work out a tax settlement for you so there are no excuses for you not to pick up the phone call us and get this problem taken care of once and for all.
We have over 206 years of professional tax experience, over 65 years of working directly for Internal Revenue Service and have been in private practice since 1982.
How the Process Works
If you need to file old-tax returns we can simply gather income records from Internal Revenue Service, prepare reconstruct your tax returns with available records and if you will owe tax, we can work out tax settlement with Internal Revenue Service. This tax settlement will completely be dependent on your documented financial statement.
When IRS reviews your financial statement there are general three available options of how your case will be close your case.
As a general rule, they will either put you into a currently not collectible file, ask you for a monthly payment agreement or you could be an offer in compromise settlement candidate.
When you call our office and after we prepare your returns we will walk you through the tax process of tax debt settlement.
How many Back or Past Due Tax Returns Should I File?
You’ll hear advice from all sorts of tax professionals on the issue of “how far back should I file my on file for back tax years.”
The good news is, as a general rule you do not have to go back that far.
As a matter of fact IRS has a policy statement regarding delinquent tax returns.
1.2.14.1.18 (08-04-2006)
Policy Statement 5-133
1. Delinquent returns—enforcement of filing requirements
2. Taxpayers failing to file tax returns will be requested to prepare and file all such returns except in instances where there is an indication that the taxpayer’s failure to file the required return or returns was willful or if there is any other indication of fraud.
All delinquent returns submitted by a taxpayer, whether upon his/her own initiative or at the request of a Service representative, will be accepted.
However, if indications of wilfulness or fraud exist, the special procedures for handling such returns must be followed.
3. Where it is determined that required returns have not been filed, the extent to which compliance for prior years will be enforced will be determined by reference to factors ensuring compliance and evenhanded administration of staffing and other Service resources.
4. Factors to be taken into account include, but are not limited to:
a. prior history of noncompliance,
b. existence of income from illegal sources, effect upon voluntary compliance, anticipated revenue, and collectibility, in relation to the time and effort required to determine tax due.
Consideration will also be given any special circumstances existing in the case of a particular taxpayer, class of taxpayer, or industry, or which may be peculiar to the class of tax involved.
5. Normally, application of the above criteria will result in enforcement of delinquency procedures for not more than six (6) years. there are special cases in which the IRS will ask for more than six years. Those cases generally involve those with a great deal of access with a high potential of collection and probability. There are very few cases that meet this criteria.
6. Each IRS agent has the flexibility to determine the course of action for any taxpayer after a full review and history. of the case
Many times we file only 3 back years.
Each case is different and depending on various factors you will make determinations on the number of back years we will file. generally if you are a wage earner and have been for a period of time we will only file the last three tax returns.
However it is important to know that in some cases we want to file as many back years as we can so you get credit towards your Social Security.
Going back to past 6 years, enforcement beyond such period will not be undertaken without prior managerial approval.
Also, if delinquency procedures are not to be enforced for the full six-year period of delinquency, prior managerial approval must be secured.
Managers are reluctant to require more back tax returns unless there is an obvious ability to pay the back tax.
The bad news is many taxpayers who had withholding taken out have lost a refund checks. You can file and claim refunds however for the last three years.
Also if you not filed your W-2s and tax returns you can lose valuable Social Security credit.
What happens if you have lost or misplaced your tax records? Not a problem
If you have back tax returns to prepare IRS has income transcripts available to prepare your tax returns.
The IRS keeps all back W-2s and 1099’s on record for the past seven years. Simply by ordering an IRS tax transcript we can determine all the reportable income IRS has on your record. Therefore delinquent tax filing or Late or Previous Years are no problem.
Tax Reconstruction +For Delinquent Tax Filing + Late Previous Years + Back Tax Returns
Generally income tax reconstruction records are put together by looking at various factors:
1. financial statement,
2. expense analysis,
3. bank statements,
4. credit card statements,
5. IRS records,
6. and various other factors to back into income.
7. Lastly an overview of Due Diligence of the asset base.
As former IRS agents we have learned to prepare tax returns under reconstructive methods.
Why does IRS only require back 6 years on back tax returns?
The answer is very simple, manpower. By next year, the entire IRS workforce will be cut down by one-third due to attrition and budget cuts.
That does not mean IRS is not going to find you. At some point in time you will get that nasty gram in the mail.
As a general rule, the only time IRS will go past six years is if a person has significant assets or can pay all the back years. In those types of cases IRS may ask you to file all your tax returns.
But as a general rule, there are so many outstanding cases, so much money to be collected and so many back tax returns that have to be filed, the IRS has put boundaries on past-due tax years is six.
I am I going to Jail? Stop the Worry!
The general rule of thumb is to contact IRS before IRS knocks on the door.
Once you have come forth on a voluntary basis it is extremely doubtful that IRS will ever go after any taxpayer criminally unless there is fraud involved.
Remember the IRS wants voluntary compliance and our tax system is based on that principle.
Unless unique situations exist do not be stuck in criminal fear. In the entire United States, and abroad, the IRS as a general rule convicts a total of 3300 taxpayers for a variety of criminal charges per year.
Call us today for a free tax consult.
We are a full service tax firm with all work being done in-house.
We have been in private practice since 1982 in all cases are handled by true and affordable experts and by true tax professionals.
Filing Old Tax Returns + Late Previous Year Taxes + Settle Tax Debt + Worry Free
