by Jim Magary | Aug 24, 2015 | Tax Help
We are “AFFORDABLE” Former IRS Agents & Managers that specialize in the immediate of IRS tax levies, bank levies, wage garnishment levies & IRS tax debt settlements. Experts!
We know the system, since 1982, A + Rated BBB. We have over 206 years of professional tax experience.
IRS Tax Levies & Wage Garnishments
IRS files 1.9 million tax levies each year and files over 700,000 federal tax liens each year.
These numbers vary from year to year. IRS is very generous in sending out tax federal liens and tax levies. It is their number one collection tool. It is responsible for collecting billions of dollars into the US treasury.
If the IRS has filed a IRS tax lien or IRS levy, you are not alone.
There is a fast and easy system to go ahead and get your money back from the Internal Revenue Service.
We have a streamlined process to get your money back from IRS. We know the system having worked for IRS for over 60 you combined years.
You will never have to speak to IRS. We handle all the IRS communication.
IRS Tax Levies & Wage Garnishments 668A & 668W
There is a different between a bank levy and wage levy. The big difference is the time the money is released to the IRS.
The IRS bank levy has a 21 day hold or freeze on the account and an IRS wage garnishment levy is an immediate tax levy on your next paycheck.
With the IRS wage garnishment levy certain exemptions may be taken. But it’s a continuous levy and garnishment until you get your levy released by calling the IRS. IRS has the option of not releasing your levy until all tax returns are filed.
The IRS has the largest collection enforcement machine in the world and is called the CADE2. IRS runs a systemic collection operation and most of their collection is done by this computer system.
It is important you always answer IRS mail because it is always sensitive. IRS systematically follows up on all mail correspondence. If you do not answer required dates you can expect more enforced collection and more nasty grams.
As a general rule, 24 hours after receiving your current and verifiable financial statement we can get your IRS tax, bank levy garnishment released and your case closed with the IRS.
It only makes sense as former IRS agents and managers, we know the system inside and out. Just how well do we know the system, we were former IRS teaching instructors.
Our former IRS agents have worked in the local, district, and regional tax offices of the Internal Revenue Service and we know the system inside and out.
When you call our office we will go over the different ways you can settle your tax debt completely with the IRS. There are three general ways to get IRS tax levies released.
Required for IRS Tax Levy, IRS Bank, IRS Wage Tax Garnishment Releases.
IRS will require a current financial statement before they will release a bank levy, wage garnishment levy.
The IRS financial statement is required documentation before they can close any case.
The IRS financial statement will need to be a form 433F.
The local office does a much more thorough review than that of the ACS unit. There is also a higher pay grade agent working the case. The persons working these cases will be called IRS revenue officers.
IRS will require the last payments based statements, copy them all mostly expenses and a copy of your pay stub to verify your current financial statement.
IRS will compare your financial statement with that of the national averages and regional norms and come up with a plan to close your case off the IRS enforcement computer.
You can find the national standards on our website. It is very important to know the system.
As a general rule IRS settles case by putting them into a tax hardship, payment agreements or the recommendation of settling your tax debt to the offer in compromise.
The offer in compromise is a more complicated process and it really takes a skilled tax professional to get an offer accepted. The current wait time for offers in compromise or nine months.
Last year 40% of all IRS collection cases ended up and were currently not collectible file and 6.5 million cases ended up with payment plans.
Once again, everything depends on your current financial statement.
Some of our clients are eligible for the new fresh start tax initiative called the offer in compromise to settle their tax debt for pennies on a dollar.
You may want to check out the IRS pre-qualifier tool to make sure that you are an eligible candidate for a tax settlement.
Not everybody is eligible for the offer in compromise program. When you’re calling firms to resolve your tax matter through the offer in compromise make sure you understand the process.
We will review with you the IRS offer in compromise to see if you can settle your debt for pennies on a dollar.
We’re the fast, friendly, experienced professional tax firm. Call us today for a free initial tax consultation.
NOW + IRS LEVY & Wage Garnishment Releases + Settle Back Tax Debt + File Back Taxes + Former IRS = NYC + 10021, 10028, 10044, 10065, 10075, 10128
by Jim Magary | Aug 24, 2015 | Tax Help
Tax Effects of Divorce or Separation
Income tax may be the last thing on your mind after a divorce or separation.
These events can have a big impact on your taxes.
Alimony and a name change are just a few items you may need to consider.
Here are some key tax tips to keep in mind if you get divorced or separated.
• Child Support.
If you pay child support, you can’t deduct it on your tax return. If you receive child support, the amount you receive is not taxable.
• Alimony Paid.
If you make payments under a divorce or separate maintenance decree or written separation agreement you may be able to deduct them as alimony.
This applies only if the payments qualify as alimony for federal tax purposes. If the decree or agreement does not require the payments, they do not qualify as alimony.
• Alimony Received.
If you get alimony from your spouse or former spouse, it is taxable in the year you get it. Alimony is not subject to tax withholding so you may need to increase the tax you pay during the year to avoid a penalty.
To do this, you can make estimated tax payments or increase the amount of tax withheld from your wages.
• Spousal IRA.
If you get a final decree of divorce or separate maintenance by the end of your tax year, you can’t deduct contributions you make to your former spouse’s traditional IRA.
You may be able to deduct contributions you make to your own traditional IRA.
• Name Changes.
If you change your name after your divorce, notify the Social Security Administration of the change. File Form SS-5, Application for a Social Security Card.
you can get the form on SSA.gov or call 800-772-1213 to order it. The name on your tax return must match SSA records. A name mismatch can delay your refund.
Health Care Law Considerations
• Special Marketplace Enrollment Period.
If you lose your health insurance coverage due to divorce, you are still required to have coverage for every month of the year for yourself and the dependents you can claim on your tax return.
Losing coverage through a divorce is considered a qualifying life event that allows you to enroll in health coverage through the Health Insurance Marketplace during a Special Enrollment Period.
• Changes in Circumstances.
If you purchase health insurance coverage through the Health Insurance Marketplace you may get advance payments of the premium tax credit in 2015. If you do, you should report changes in circumstances to your Marketplace throughout the year.
Changes to report include a change in marital status, a name change and a change in your income or family size.
By reporting changes, you will help make sure that you get the proper type and amount of financial assistance. This will also help you avoid getting too much or too little credit in advance.
• Shared Policy Allocation.
If you divorced or are legally separated during the tax year and are enrolled in the same qualified health plan, you and your former spouse must allocate policy amounts on your separate tax returns to figure your premium tax credit and reconcile any advance payments made on your behalf. Publication 974, Premium Tax Credit, has more information about the Shared Policy Allocation.
For more on this topic, see Publication 504, Divorced or Separated Individuals. You can get it 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. These are your Taxpayer Bill of Rights. Explore your rights and our obligations to protect them on IRS.gov.
by Jim Magary | Aug 24, 2015 | Tax Help
We are an “AFFORDABLE” PROFESSIONAL “ IRS Tax Firm. 24 hours after receiving your current financial statement we can get an IRS Tax Levy, IRS Bank Levy, IRS Wage Garnishment levy released and your case closed by the IRS.
We have worked out of the local, district, and regional tax offices of the Internal Revenue Service. We have over 60 years of direct IRS work experience.
We are composed of tax attorneys, CPAs and former IRS & State agents who know the system inside and out. We have worked as IRS supervisors, managers and teaching instructors.
Because of our years of experience working at Internal Revenue Service we know the system to get immediate releases of an IRS tax levy, IRS bank levy or IRS wage garnishment.
Not only can we get your tax levy released or removed we can also settle your case at the same time. We will go over the three ways IRS settles cases on our initial consultation.
We handle anything from a simple IRS notice or letter to going tax court if necessary.
All work is done in-house. We are a full-service professional IRS and State tax firm.
IRS Tax Levies:
As a general rule, if taxpayers do not respond to final notices that are sent by IRS, the Internal Revenue Service is required to send out a tax levy.
It is important to respond to all IRS requests by mail because IRS’s computer will do so.
As a general rule, no human hand touches IRS mail, it is all set out systemically by the IRS Cade 2 computer. It sends out close to 150 million pieces of mail a year.
IRS generally sends out five billing notices and then the important 1058 that lets you know an IRS tax levy is to follow.
IRS has the right to shorten the period of time depending on your tax situation and history.
The Internal Revenue Service sends out notices out notices on five-week billing cycles. Many times in the last notice IRS sends out a certified or registered mail.
To find out where you are in the system, look on the top right corner, it’ll let you know a code number and experienced tax professional can let you know where you are in the IRS billing system.
As a general rule, IRS sends out close to 1.9 million tax levies/garnishments each year. If you do not comply with the final notice sent by Internal Revenue Service I can guarantee you that you will receive a bank or wage garnishment levy. You must respond all IRS notices.
There is a difference be between an IRS federal tax levy in the federal tax lien. A federal tax levy is a seizure a federal tax lien is a document to get placed at your courthouse.
A federal tax lien can stay on public court records for 10 years. they are generally released by full payment, statute expiration or accepted offer in compromise. The IRS filed 700,000 federal tax liens last year.
To get your IRS tax levy or wage garnishment released it will be necessary for you to give IRS a current documented financial statement along with making sure all your tax returns are filed in on IRS’s computer system.
It will be necessary for you to fully complete an IRS form 433F (an IRS financial statement) that you can find on our website along with supplying IRS with bank statements, pay stubs and copy of all monthly expenses.
The Internal Revenue Service does a thorough review of your current financial statement before closing your case. The internal revenue service will compare your expenses against that of the national, geographical, and localized standards that IRS has on their website.
When you call our office we were thoroughly review your case, give you a free tax assessment and let you know the necessary steps to completely remove your IRS problem including releasing an IRS tax levy, or wage levy garnishment and settling your case all at the same time.
IRS will generally close your case by putting it into a tax hardship or asking for a monthly payment plan.
40% of all cases are put in the tax hardship and 6.5 million cases are put into monthly installment agreements.
IRS Back Taxes + Offer in Compromise, IRS Tax Settlements, Pennies on a Dollar Settlements
Last year IRS accepted 38,000 offers in compromise for average settlement of $6500 per case. Please keep in mind that is only an average.
Please Note : Your individual financial statement will determine how IRS will close your case.
Please keep in mind if you have unfiled or back to tax returns, the IRS has the option of not releasing a federal tax levy because you are not in full compliance with tax laws. IRS also has the right to prepare your tax return under 6020 B of the Internal Revenue Code.
FST can prepare any and all back tax returns with little or no records. we are experts in tax reconstruction because of methods learned at the Internal Revenue Service.
If you do not prepare your back tax returns, the IRS can prepare them and make sure you pay the most amount allowed by law under code section 6020B.
If you’ve lost your tax records we can reconstruct them through methods we have learned at the Internal Revenue Service.
Don’t be in fear or panic if you have not filed back tax returns, we can get you back into the system worry free.
Call us today for a free initial tax consultation and speak to a true IRS tax expert.
Las Vegas + Help Remove IRS Tax Levy NOW + IRS Bank Levy + Wage Garnishment + Settle Back Tax Debt + Unfiled + Past Due Tax Returns + Offer in Compromise
by Jim Magary | Aug 21, 2015 | Tax Help
We have been in private practice since 1982 and are a biblical-based tax firm. We are true Affordable Christian IRS & New York State Tax Experts <><
We have over 206 years of professional tax experience and our true experts for all IRS and State of New York tax problems.
Due to our years of experience at IRS we know every possible tax solution.
When you call our office you will hear the truth about your case from a professional Christian tax firm.
We also have over 60 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the IRS.
We are true IRS tax experts. We are comprised a tax attorneys, CPAs, and former federal tax agents.
We know how to resolve your problem and bring an immediate and permanent and get you IRS tax problem relief.
We can get an IRS levy released within 24 hours of receiving your current financial statement, we can talk you about the removal of the federal tax lien, talk to you about paying your IRS tax debt off with a payment plan and or review the pre-qualifier tool with you for the offer in compromise and file all back tax returns.
You can call us today for a free initial tax consultation and hear the truth about your case.
Proverbs 11:14 <><
Where there is no guidance, a people falls, but in an abundance of counselors there is safety.
Proverbs 19:20-21 <><
Listen to advice and accept instruction, that you may gain wisdom in the future. Many are the plans in the mind of a man, but it is the purpose of the Lord that will stand.
The Professional Tax firm of FST can offer a different type of solutions to bring your IRS or State tax problem to immediate and permanent end.
We also can represent you during an IRS tax audit need an IRS tax return reconstruction and handle any type of IRS notice or letter , including going to Tax Court.
All our work is done in-house by true Christian tax professionals. Let our years of experience work for you and get you positive results.
On staff are Christian tax attorneys, Christian tax lawyers, Christian certified public accountants, Christian enrolled agents and Christian former IRS agents.
We are the fast, friendly, and affordable professional Christian tax firm that knows how to resolve IRS and state tax problems.
Call us today for free initial tax consultation. We will take no fee unless we know we can help out your tax situation.
Blessings <><
Christian IRS Tax Services + IRS Problems + IRS Tax Levy + Wage Garnishment + Tax Liens Help + IRS Settlements + Unfiled Tax Returns + Tax Audit + Payment Plans
by Jim Magary | Aug 21, 2015 | Tax Help
An “Affordable Professional Tax Firm” that specializes in IRS and state tax resolution. Affordable New York Tax Experts, Since 1982.
We are former IRS Agents & Managers who know the system, since 1982. We are A plus by the Rated BBB.
We have been in private practice since 1982 and are true affordable tax experts in resolving individual, business and payroll taxes debt.
If you owe the Internal Revenue Service back taxes or back tax debt, it only makes sense to hire former IRS agents and managers who know the system inside and out.
We understand all the IRS systems protocols and procedures to get you immediate and permanent IRS tax relief.
We can help anyone who owes any federal, State, individual, business, or 941 payroll taxes including those who have not filed back tax returns and those wishing to settle IRS tax debt.
We have over 60 years of direct work experience at the Internal Revenue Service in the local, district, and regional tax offices of the IRS. while employed at Internal Revenue Service we taught tax lot of new IRS agents.
If you owe back taxes whether it be individual, business/corporate, back payroll taxes contact us today and we can review with you different tax solutions to go ahead and permanently and immediately remedy your problem from the Internal Revenue Service.
It is important to understand, those who will owe back taxes that your current financial statement will usually determine the outcome of your case.
Therefore the preparation and the completion of your financial statement is the key to success and negotiation with the IRS is critical.
Knowing the system is critical for success on all cases.
The Filing of Back or Past Due or Unfiled IRS Tax Returns
I
f you have not file tax returns, our former IRS agents can prepare your back tax returns with little or no records and settle your tax debt at all at the same time.
Make sure you file your back tax returns because IRS enjoys the privilege of filing your back tax returns under 6020 B of the code if you fail to file back taxes.
They will file your return to make sure you pay the highest amount allowed by law. If this is happened to you, you can file for an IRS audit reconsideration.
IRS keeps all your income records for seven years. if you need to file a back tax year that have no tax record you can simply pull the IRS income transcript. You will find on their all income sources reported to Internal Revenue Service. Exceptions of course if you are self-employed with no third-party reporting to the Internal Revenue Service.
The IRS Required Financials Statements, 433F
If you owe back taxes and as a general rule your financial statement will determine how IRS will close your settle your case.
If you owe individual, business or payroll taxes, we will take a current financial statement contact the IRS and work out an affordable individual or business payment plan and/or file and settle the tax if applicable.
Your last 3 to 6 months of your financial condition is IRS’s determining factor on your case resolution.
IRS has the option to determine the period of time and wish they can review your financial records. 3 to 6 months is generally the time periods they choose and is a good reflection of your ability to pay or inability not to pay.
As a general rule, when taxpayers or businesses owe back individual or payroll taxes, IRS closes case out by putting them into hardships, asking for payments or the settlement through the offer in compromise.
These are the four most common ways that IRS close cases off their enforcement computer.
1. 40% of all taxpayers that owe back taxes to the IRS get put in the tax hardships,
2. 6.5 million people get put into payment plans and ,
3. 40,000 people get offers in compromise accepted.
4. the IRS statute of limitation on collection cases is generally 10 years.
Call us today for a free initial tax consultation.
We are the fast, friendly, and affordable professional tax firm. All work is done in-house by true tax professionals.
End IRS Tax Problems + Former IRS + Levies + Audits + Payroll Tax Debt + Back Tax Returns + Settlements + Liens + Payment Options + 10023, 10024, 10025, 10012, 10013, 10014
by Jim Magary | Aug 21, 2015 | Tax Help
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 Affordable Tax Experts. Settle & Stop IRS!
We can resolve IRS Tax Debt including Payroll Tax Debt. 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.
Were also composed of tax attorneys, CPAs as well as former state tax agents. We know the systems inside and out to settle any federal or state tax case.
Based on your set of circumstances we can accurately predict the outcome of your case.
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.
Need a 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.
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 Settlements = Offer in Compromise/ IRS Tax Settlements/Pennies on a Dollar
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.
Removals and Stopping 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
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.
Owe IRS Taxes + Back Payroll Taxes + Trust Fund Taxes + IRS Payment Plans + Settle Debt + Unfiled Back Tax Returns + Former IRS + NYC + 10023, 10024, 10025, 10012, 10013, 10014
