by Jim Magary | Aug 11, 2015 | Tax Help
An “Affordable Professional Tax Firm” that specializes in IRS and State tax resolution. Affordable New York Tax Experts.
We are former IRS Agents & Managers who know the system, since 1982. A plus Rated BBB.
We have been in private practice since 1982 and are true affordable tax experts in resolving individual, business and payroll taxes debt. We have over 206 professional tax experience.
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.
Please Note: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. It is always best to have a tax professional help you with the preparation documentation in the submission of these forms.
Filing of Back IRS Income & Business Tax Returns
If 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 Required Financials Statements 433F, 433A
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.
It is critical that you understand the importance of your current financial statement because it will determine the outcome of your case.
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 three 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.
Since 1982 we have been resolving IRS tax debt for individuals, businesses and corporations that owe back federal taxes including payroll tax debt.
Important : Make sure all your tax returns are filed.
Call us today for a free initial tax consultation.
IRS Taxes Debt Help = Owe Back Taxes = Individual, Business, 941 Payroll Taxes + Unfiled Tax Returns + Trust Fund Taxes + IRS Settlement
by Jim Magary | Aug 11, 2015 | Tax Help
We can get your IRS tax levy, IRS wage garnishment levy released within a 24-hour period of time and close your case at the same time. A plus Rated, the AFFORDABLE FIRM.
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.
As former IRS agents we taught tax law and tax procedure to new IRS agents, we know the system inside and out. We can stop IRS tax levies and settle your case at the same time.
We are not a tax mill, we are professional tax firm.
We do exactly what we say we will do. if you are unhappy with any of our services will simply return any retainer or money.
We have an immaculate and sterling reputation.
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.
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.
OIC + 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.
I am a former IRS offer specialist.
As a IRS revenue officer agent, 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. Your current financial statement will determine the outcome for this program.
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 Levy, IRS Wage Garnishment Releases and Removals and case closing.
The IRS filed 1.8 million the bank and wage garnishment levies last year. IRS filed over 700,000 federal tax liens.
So if you received a bank or wage garnishment levy/lien 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. Your financial statement is the key to closing your case and settling your case.
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.
Being a former IRS agent teaching instructors gives us a huge advantage and the benefit of our experience is invaluable to our clients. We know the system inside and out.
The filling out of your financial statement is critical into the settlement of your case.
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 has the ability to go back as far as they want for their financial review. 3 to 6 months is a general indicator of IRS’s review process.
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.
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.
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.
Call for free initial tax consultation.
Immediately STOP IRS Tax Levy NOW = Stop Bank & Wage Garnishment + File Back Returns + Offer in Compromise + FORMER IRS + Staten Island, Buffalo, Jamaica, Rochester, Yonkers
by Jim Magary | Aug 11, 2015 | Tax Help
The Affordable Professional Tax Firm that specialize in IRS & State tax debt relief, former IRS. We know the system, since 1982.
Our principles have been in private practice since 1982 and now we have a nationwide tax practice settling specializing in back tax settlements for individuals, businesses and companies that have back individual, business or payroll IRS tax debt. We are some of the most experienced tax professionals in the industry.
If you have back tax debt with the Internal Revenue Service we can go over of various solutions to any tax situation. Please know, your financial statement will determine the outcome of your case.
We have over 60 years of direct work experience at the Internal Revenue Service.
Due to our years extensive years of experience at the Internal Revenue Service we know all the systems, protocols and function to immediately resolve your IRS situation.
We have worked in the local, district, and regional tax offices of the IRS.
We can go over the different types of tax settlement programs, prepare not file tax returns on any type of individual, business or payroll tax case. We are true IRS and state tax experts.
Internet Shopping for Tax Resolutions firms, Beware
You should know that most of the companies you see on the Internet are lead generation companies that means marketing companies are selling your information to third parties.
Your information is worth $60 – $100 and people bid on the right to represent you. You have no idea who is getting your information.
With FST you are calling in true professional tax firm that understands and knows IRS tax debt relief.
On staff are tax attorneys, CPAs, and former IRS agents and managers who have over 60 years of working directly for the Internal Revenue Service in the local, regional and corporate offices of IRS.
IRS Tax Debt Settlements – OIC – Pennies on a Dollar
Please understand that with any possible IRS tax settlement with the Internal Revenue Service, you will need to provide IRS with the current documented financial statement.
We will analyze that and go over the best case scenario depending on your individual situation.
The Internal Revenue Service will use the national standard expenses and apply it against your current financial statement to reach a determination on your case.
To ask for an IRS tax debt settlement call the offer in compromise, you’ll have to complete form 433 OIC and form 656. To learn more about the offer in compromise program go on our website. About 38% of all offers in compromise are accepted by the Internal Revenue Service for average of $6500 per case.
Whether you will owe individual or payroll taxes IRS basically works all cases the same for back tax debt.
IRS always takes detailed financial statements and does a careful analysis before coming up with their endgame strategy. IRS uses formulas to determine how they were close your case off the enforcement computer.
The reason it is wise to use a tax professional as we understand these formulas and regulations and can get you a far better settlement and you can get by yourself.
Call us today for a free initial tax consultation. Since 1982 A+ rated by the BBB.
Affordable IRS Taxes Debt Relief Help+ Former IRS + Back Tax Settlements + Not Filed Tax Returns + Owe Individual, Business, Payroll Tax Debt + Settle Now
by Jim Magary | Aug 11, 2015 | Tax Help
We have been in private practice since 1982 and are a biblical-based Christian tax firm.
We are true Affordable Christian IRS & 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 taught tax law to new IRS agent and were former teaching instructors.
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.
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. Please feel free to ask us about our faith.
We are the fast, friendly, and affordable professional Christian tax firm that knows how to resolve IRS and state tax problems.
We will take no fee unless we know we can help out your tax situation.
Christian IRS Help Services = IRS Tax Problems + IRS Tax Levy + Tax Liens Help + IRS Settlements + Unfiled Tax Returns + IRS Tax Audit + Payment Plans + Staten Island, Buffalo, Jamaica, Rochester, Yonkers
by Jim Magary | Aug 11, 2015 | Tax Help
Is a Person With Income From Puerto Rico Required to File a U.S. Federal Income Tax Return?
If you are a United States citizen or resident alien and are a bona fide resident of Puerto Rico during the entire tax year, you generally are not required to file a U.S. federal income tax return if your only income is from sources within Puerto Rico.
However, if you also have income from sources outside of Puerto Rico, including from U.S. sources, you are required to file a U.S. federal income tax return if such amount is above the U.S. filing threshold.
Nevertheless, a bona fide resident of Puerto Rico with a U.S. filing obligation, generally will not report Puerto Rican source income on a U.S. income tax return. A tax year for calendar year filers is January 1 to December 31.
If you are a bona fide resident of Puerto Rico and can exclude your Puerto Rican source income on your U.S. income tax return, you must determine your return filing requirement based on the filing thresholds shown in the individual tax return instructions. For more information about how to determine the amount of income that requires filing a U.S. income tax return, refer to Publication 570 and Publication 1321 (PDF).
However, if you are a resident of Puerto Rico and a U.S. government employee, including members of the U.S. Armed Forces, you must file an income tax return reporting all income received for performing services for the U.S. government.
In addition, special rules under the Military Spouses Residency Relief Act (MSRRA) apply to civilian spouses of active duty members of the U.S. Armed Forces who work in Puerto Rico but retain their tax residency status in one of the 50 states or the District of Columbia and have the same tax residency as their spouses before the move.
If these spouses earn compensation while working in Puerto Rico, e.g., income from wages, salaries, tips, or self-employment, they will only file a U.S. income tax return reporting such compensation.
For more information on how MSRRA applies to civilian spouses, refer to Publication 570 and Notice 2012-41 available on IRS.gov.
U.S. citizens and resident aliens who are not bona fide residents of Puerto Rico during the entire tax year, are required to report all income from worldwide sources on their U.S. income tax return.
However, a U.S. citizen who changes residence from Puerto Rico to the United States, and who was a bona fide resident of Puerto Rico for a period of at least two years before changing residency, can exclude any Puerto Rican source income from his or her U.S. income tax return attributable to the time he or she was still residing in Puerto Rico for part of the year.
If a bona fide resident of Puerto Rico does not have a U.S. income tax filing requirement, he or she may nevertheless have an obligation to file a return with the United States reporting self-employment income derived from a trade or business in Puerto Rico and/or elsewhere.
Such individuals must file Form 1040-SS (PDF) or Form 1040-PR (PDF) with the United States to report self-employment income and if necessary, pay self-employment tax. For more information on self-employment reporting requirements, see the Form 1040-SS Instructions (PDF) and Form 1040-PR Instructions (PDF).
by Jim Magary | Aug 11, 2015 | Tax Help
We are Affordable IRS Tax Experts. We have been in practice since 1982, Former IRS, A plus rated by the BBB.
We know the System
We can completely resolve and end IRS 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.
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 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. Having a combined 60 years experience at the Internal Revenue Service we know and understand the system to get you the best positive results.
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. Each year that number keeps growing. They expect by next year over 7 million taxpayers who owe back taxes will be on monthly payment plans, so you are not alone.
Your current financial statement will determine if you are installment agreement candidate. Keep in mind your financial statement will need to be fully documented. Documentation is the key to success.
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.
The Offer in Compromise/ IRS Tax 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. IRS’s made it easier due to the new fresh start initiative.
The offer in compromise program is not for everyone.
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.
Removal of a 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, old, 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. At some point you’re in a half to get back in the system we can do this in a very painless and seamless way. Call us today to learn more.
Trust fund taxes.
If you do not pay your payroll taxes the IRS has the right to impose a 6672 penalty against you, that means IRS has the right to go individually against you for the back payroll taxes. Call us today to learn how to fight or file an appeal of this penalty.
We are A+ rated by the Better Business Bureau, since 1982.
IRS Taxes + Owe Back Payroll Taxes + Trust Fund + Payment Plans + settlements + Unfiled Back Tax Returns = Former IRS + Staten Island, Buffalo, Jamaica, Rochester, Yonkers
