by Jim Magary | Aug 26, 2015 | Tax Help
What You Need To Know About Tax Refunds
Here are 10 things you need to know about your refund.
1. Refund Options.
You have three options for receiving your individual federal income tax refund: direct deposit, U.S. Savings Bonds or a paper check.
You can now use your refund to buy up to $5,000 in U.S. Series I Savings Bonds in multiples of $50.
2. Separate Accounts.
You may use Form 8888, Allocation of Refund (Including Savings Bond Purchases), to request that your refund be allocated by direct deposit among up to three separate accounts, such as checking or savings or retirement accounts.
You may also use this form to buy U.S Savings Bonds.
3. Tax Return Processing Times.
If you file a complete and accurate paper tax return, your refund will usually be issued within six to eight weeks from the date it is received.
If you filed electronically, your refund will normally be issued within three weeks after the acknowledgment date.
4. Check the Status Online.
The fastest and easiest way to find out about your current year refund is to go to IRS.gov and click the “Where’s My Refund?” link at the IRS.gov home page.
To check the status online you will need your Social Security number, filing status and the exact whole dollar amount of your refund shown on your return.
5. Check the Status By Phone.
You can check the status of your refund by calling the IRS Refund Hotline at 800–829–1954.
When you call, you will need to provide your Social Security number, your filing status and the exact whole dollar amount of the refund shown on your return.
6. Check the Status with IRS2Go IRS2.
Go is a smartphone application that lets you interact with the IRS using your mobile device. Apple users can download the free IRS2Go application by visiting the Apple App Store. Android users can visit the Android Marketplace to download the free IRS2Go app. Simply enter your Social Security number, which will be masked and encrypted for security purposes, then select your filing status and the exact whole dollar amount of your refund shown on your return.
7. Delayed Refund.
There are several reasons for delayed refunds. For things that may delay the processing of your return, refer to Tax Topic 303 available on the IRS website at http://www.irs.gov, which includes a Checklist of Common Errors When Preparing Your Tax Return.
8. Larger than Expected Refund.
If you receive a refund to which you are not entitled, or one for an amount that is more than you expected, do not cash the check until you receive a notice explaining the difference. Follow the instructions on the notice.
9. Smaller than Expected Refund.
If you receive a refund for a smaller amount than you expected, you may cash the check.
If it is determined that you should have received more, you will later receive a check for the difference.
If you did not receive a notice and you have questions about the amount of your refund, wait two weeks after receiving the refund, then call 800–829–1040.
10. Missing Refund.
The IRS will assist you in obtaining a replacement check for a refund check that is verified as lost or stolen.
If the IRS was unable to deliver your refund because you moved, you can change your address online. Once your address has been changed, the IRS can reissue the undelivered check.
by Jim Magary | Aug 26, 2015 | Tax Help
We are an “AFFORDABLE “ full service tax firm that specializes in IRS tax problems. Former IRS Agents, Since 1982.
We have over 60 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service.
We know the system inside and out. Let our experience work for you.After 60 years of combined IRS work experience we know all the protocols and systems used to help settle IRS cases.
If you need to file back tax returns or owe the IRS a tax debt, we can go ahead and work out an effective tax settlement for you.
IRS will require a current financial statement to close your case off of the collection computer. The financial statement is Key to case closings.
IRS after reviewing your current financial statement will either put you into a current hardship, asking for a monthly payment agreement or will consider the filing of an offer in compromise. Your current financial statement will completely determine the closing method used by IRS.
IRS Case Closures:
At the current time over 40% of the cases are put into a currently not collectible file, 6.5 million taxpayers have current monthly or installment agreements and 38,000 taxpayer settled by the acceptance of an offer in compromise. As a general rule the only other way case close, is when the statute of limitation expires or a bankruptcy proceeding wipes out the tax.
Do you have unfiled or not file tax returns?
Many people do not file back tax returns because they lost their records or because of fear. It is important to remember IRS just want you back in the system so don’t let fear or panic set in.
If this is your case, we can go ahead and pull IRS tax transcripts and secure enough information to file back tax returns.
If you have little or few tax records that is not a problem we can prepare your returns under reconstructive methods ensure you will pay the lowest amount allowed by law. We can get you back in the system worry free.
Being a former IRS agents we understand all the techniques to get you back in the system worry free.
I caution those taxpayers who do not file to be very careful because IRS can file your tax return under 6020 B and you will pay the most amount allowed by law.
If you do not follow-up on the assessment IRS makes under 6020 B of the IRC code, the Internal Revenue Service will follow-up by the filing of a federal tax levy in a federal tax lien.
We will give you a free evaluation or analysis on the best way to settle your case for the lowest possible dollar amount if you are a suitable candidate for an offer in compromise.
Being a former IRS agent revenue officer I both worked and taught the offer in compromise program. we walked to the pre-qualifier program with you to see if you’re qualified for an IRS offer a compromise tax settlement.
When you call our office you will speak directly to a true IRS tax expert.
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by Jim Magary | Aug 26, 2015 | Tax Help
Former IRS Agents & Managers to know the system. We are an “AFFORDABLE “ professional tax firm that has been in private practices 1982. A plus rated, BBB. True Experts!
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.
We know the system inside and out. Let our years with the Internal Revenue Service be your best friend.
We have a combined 60 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.
We have over 206 years of professional tax experience and over 60 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the IRS.
Fresh Start Tax LLC is a much different firm than other companies.
We do our own work in-house, most companies sub their work out to backend offices.
We have over 60 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.
Our vast experience and knowledge with the Internal Revenue Service works in your favor.
Some of our staff have put on joint forums with the Internal Revenue Service. We have an excellent working relationship with Uncle Sam.
Settling Tax Cases on Back Taxes Debt with the Feds or the State of New York
If you want to settle your back taxes, IRS will require a current financial statement along with full documentation.
IRS rules require only form 433F, along with bank statements, copy of pay stubs, and monthly expenditures.
IRS conducts a thorough review of your current financial statement and compares that with the national, regional, and localized standards to ensure that everybody is getting the same treatment.
The IRS will use a six-month timeframe to make determinations on your case. In some cases the IRS can ask for the last year.
It is important a true professional fill-out the financial statements because we know exactly what IRS is looking for and can help navigate the waters to get you achieved results.
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.
IRS levies approximately 1.9 million taxpayers each and every year.
This includes both bank levies and wage garnishment levies. keep in mind not a human hand touches these levees they all go out systemically by the IRS CADE 2 computer.
We can remove an IRS tax or wage garnishment levy within 24 hours of receiving your current financial statement and or get you placed into a payment program or tax hardship depending on your situation.
Call us today for a free initial tax consultation and hear the truth from true IRS tax experts.
When you speak to our office you will not speak to a salesperson but a true IRS tax expert.
IRS Offer in Compromise + Unfiled Tax Returns + Stop IRS Tax Levy + IRS Lien + IRS Payments Plans + Settlements Negotiations + Audits + NYC 10001, 10011, 10018, 10019, 10020, 10036
by Jim Magary | Aug 26, 2015 | Tax Help
We are Affordable IRS Tax Experts. We have been in practice since 1982, Former IRS, A plus rated by the BBB.
IRS and New York State Tax Resolutions
We can resolve any IRS Tax Debt including Payroll Tax Debt.
If you owe back IRS or State of New York 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.
Were also composed of tax attorneys, CPAs as well as former state tax agents.
Based on your set of circumstances we can accurately predict the outcome of your case. We have worked so many cases and understand the tendencies of the Internal Revenue Service so we can accurately predict outcomes of most cases with relative certainty.
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 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. Whatever you do do not be afraid to file your past-due tax returns we can get you back in the system seamlessly.
Paying Back Taxes = Making IRS Payments = 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.
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. You want to make sure your financial statements are both accurate and honest. IRS reserves the right to pull credit reports when necessary. The more you all the more thorough review from the Internal Revenue Service.
IRS Tax Settlements
Offer in Compromise/ IRS Tax Settlements/Pennies on a Dollar 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.
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.
TAX LEVIES
Removals an IRS Tax Levy + IRS Bank Levy, IRS Wage Garnishments
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
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.
Call us today for free initial tax consultations speak to a true IRS tax expert.
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by Jim Magary | Aug 26, 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 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.
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
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.
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 currently uncollectible file or 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.
Remove IRS Tax Levy NOW + Bank & Wage Garnishments NOW + File Back Tax Returns, Offer in Compromise + FORMER IRS 10001, 10011, 10018, 10019, 10020, 10036
by Jim Magary | Aug 26, 2015 | Tax Help
Job Search Expenses May be Deductible
People often change their job in the summer.
If you look for a job in the same line of work, you may be able to deduct some of your job search costs.
Here are some key tax facts you should know about if you search for a new job:
• Same Occupation.
Your expenses must be for a job search in your current line of work. You can’t deduct expenses for a job search in a new occupation.
• Résumé Costs.
You can deduct the cost of preparing and mailing your résumé.
• Travel Expenses.
If you travel to look for a new job, you may be able to deduct the cost of the trip. To deduct the cost of the travel to and from the area, the trip must be mainly to look for a new job. You may still be able to deduct some costs if looking for a job is not the main purpose of the trip.
• Placement Agency.
You can deduct some job placement agency fees you pay to look for a job.
• First Job.
You can’t deduct job search expenses if you’re looking for a job for the first time.
• Substantial Job Break.
You can’t deduct job search expenses if there was a long break between the end of your last job and the time you began looking for a new one.
• Reimbursed Costs.
Reimbursed expenses are not deductible.
• Schedule A. You usually deduct your job search expenses on Schedule A, Itemized Deductions. You’ll claim them as a miscellaneous deduction. You can deduct the total miscellaneous deductions that are more than two percent of your adjusted gross income.
• Premium Tax Credit.
If you receive advance payments of the premium tax credit it is important that you report changes in circumstances, such as changes in your income or eligibility for other coverage, to your Health Insurance Marketplace.
Other changes that you should report include changes in your family size or address. Advance payments of the premium tax credit provide financial assistance to help you pay for the insurance you buy through the Health Insurance Marketplace.
Reporting changes will help you get the proper type and amount of financial assistance so you can avoid getting too much or too little in advance.
For more on job hunting refer to Publication 529, Miscellaneous Deductions. You can get IRS tax forms and publications on IRS.gov/forms at any time.
Each and every taxpayer has a set of fundamental rights they should be aware of when dealing with the IRS.
Explore your rights and our obligations to protect them on IRS.gov.
