by Jim Magary | Jul 24, 2015 | Tax Help
We are IRS specialist for the offer in compromise for those wishing to settle their IRS tax debt. Former IRS Agents, since 1982.
We are composed of former IRS agents and managers who were former employees of the Internal Revenue Service.
We have over 60 years of direct work experience in the local, district, and regional tax offices of the Internal Revenue Service. As former IRS agents we taught tax law to new employees.
You can call us today for free initial tax consultation and find out if you are a true offer in compromise tax debt settlement candidate.Due to the new fresh start initiative set out by the Internal Revenue Service many more taxpayers are eligible for the tax debt settlement. The Internal Revenue Service is making the offer in compromise or the IRS tax debt settlement an easier process.
As a former IRS agent I would let all individuals who are trying to settle their debt on the own to understand that this is a long process. Right now there are 7500 cases in the IRS Q.
It is important to know you will that all back tax returns will have to be filed, up-to-date and current on the IRS computer system before the Internal Revenue Service will accept an offer in compromise.
Last year there were 78,000 offers in compromise were filed with the Internal Revenue Service, 38% of those were accepted for an average of $6500 per case. Right now the current wait time of an offer in compromise is nine months.
About 20% of all offers in compromise go to the Appellate Division for settlement.
You should know that not everyone is an offer in compromise candidate to settle their tax debt.
The best thing that you can do was walk through the pre-qualifier tool to make sure you’re a qualified candidate or call our office today and we will walk you through the process.
Please keep in mind that if you have had an offer in compromise rejected you may file another offer at any point in time.
We are A+ rated by the Better Business Bureau and have been in private practice since 1982.
We are a full-service professional tax firm that has a unique expertise in the resolution of all IRS tax matters.
Hear the truth today from an expert tax firm on IRS tax resolution matters.
We are the fast, friendly, and affordable professional tax firm.
The person who is writing this information is a former IRS agent in teaching instructor with the Internal Revenue Service. I taught and work the offer in compromise program.
Offer in Compromise + Detroit + IRS Tax Debt Settlement + Settle Tax Bill + Remove IRS Taxes = Former IRS
by Jim Magary | Jul 22, 2015 | Tax Help
We have been in private practice since 1982 and are a biblical-based tax firm. The Affordable Christian Tax Experts <><
We have over 206 years of professional tax experience and our true experts for all IRS tax problems.
Due to our years of experience at IRS we know every possible tax solution. When you call for initial consultation we will go over every possible option available to you.
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 taught tax law to new IRS agent and were former teaching instructors.
We know the IRS system inside and out.
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 Christian tax firm of FST can handle any IRS or State tax matter, tax problem and offer options and resolutions 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.
Our former IRS agents have worked as managers, supervisors, teaching instructors and also included writing part of the Internal Revenue Service manual.
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.
by Jim Magary | Jul 22, 2015 | Tax Help
We have over 60 years of direct IRS work experience,the AFFORDABLE choice. We know the system inside and out. Since 1982.
I was a former IRS agent and teaching instructor of the offer in compromise program at the Internal Revenue Service. I am a true expert from settling of IRS tax debt.
I worked in the local, district, and regional tax offices of the IRS. I know the system of tax that settlement inside and out.
I caution everyone before filing an offer to make sure they are qualified candidate.
It is very important you walk to the pre-qualifier tool before you waste time or money to make sure you’re truly qualified to be accepted to the program.
Do not be ripped off by tax mills promising you can settle your tax debt for pennies on the dollar, while it is possible be sure you are prequalified for the program.
Last year approximately 78,000 offers in compromise were filed with the Internal Revenue Service and approximately 38,000 of those were accepted. The average settlement was $6500 per case.
Call our office for a free initial tax consultation and find out whether you are a qualified candidate to file for offer in compromise.
Have former IRS agents and managers settle your tax debt with the IRS, since 1982, A+ rated BBB. The affordable tax firm!
We have over 60 years of direct work experience in the local, district, and regional tax offices of the Internal Revenue Service.
It is important to know you will that all back tax returns will have to be filed, up-to-date and current on the IRS computer system before the Internal Revenue Service will accept an offer in compromise.
IRS always conducts a full compliance check to make sure all tax returns are on their system.
Many times IRS looks to reject offers rather than accept them because of the sheer amount of work it takes to get one approved by management. Rejecting the offer based on a lack of filing is the easiest way for IRS to reject your offer.
The Offer in Compromise Process
Please use the most current revision of Form 656-B in preparing and submitting your Offer in Compromise.
Use of outdated forms and instructions may cause a delay in the processing of your offer application.
An offer in compromise allows you to settle your tax debt for less than the full amount you owe.
It may be a legitimate option if you can’t pay your full tax liability, or doing so creates a financial hardship.
IRS considers your unique set of facts and circumstances:
• Ability to pay;
• Income;
• Expenses; and
• Asset equity.
IRS generally approve an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time.
Make sure you are eligible to settle for the OIC
Before IRS can consider your offer, you must be current with all filing and payment requirements.
You are not eligible if you are in an open bankruptcy proceeding.
Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.
Submit your offer in compromise
You’ll find step-by-step instructions and all the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B (PDF). Your completed offer package will include:
• Form 433-A (OIC) (individuals) or 433-B (OIC) (businesses) and all required documentation as specified on the forms;
• Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;
• $186 application fee (non-refundable); and
• Initial payment (non-refundable) for each Form 656.
Select a payment option for OIC, IMPORTANT
Your initial payment will vary based on your offer and the payment option you choose:
• Lump Sum Cash:
Submit an initial payment of 20 percent of the total offer amount with your application.
Wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.
• Periodic Payment:
Submit your initial payment with your application. Continue to pay the remaining balance in monthly installments while the IRS considers your offer.
If accepted, continue to pay monthly until it is paid in full.
If you meet the Low Income Certification guidelines, you do not have to send the application fee or the initial payment and you will not need to make monthly installments during the evaluation of your offer. See your application package for details.
Understand the process for the OIC
While your offer is being evaluated:
• Your non-refundable payments and fees will be applied to the tax liability (you may designate payments to a specific tax year and tax debt);
• A Notice of Federal Tax Lien may be filed;
• Other collection activities are suspended;
• The legal assessment and collection period is extended;
• Make all required payments associated with your offer;
• You are not required to make payments on an existing installment agreement; and
• Your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.
We are A+ rated by the Better Business Bureau and have been in private practice since 1982.
We are a full-service professional tax firm that has a unique expertise in the resolution of all IRS tax matters.
Offer in Compromise + Settle IRS Tax Debt + Owe Back Taxes Debt Solutions + Former IRS Agents + We know the System + Ann Arbor, Flint, Clinton, Dearborn, Livonia
by Jim Magary | Jul 22, 2015 | Tax Help
FST is an AFFORDABLE Professional Tax Firm that specializes in IRS Back Taxes Problems , A plus Rated BBB, in private since 1982.
We have been in private practice since 1982 and are true affordable tax experts in resolving all federal, individual, business and payroll taxes once and for all.
Because of our years of experience at the Internal Revenue Service we know and understand the IRS and State tax systems.
Since 1982 we have been resolving tax debt issues for businesses and individuals and for all types of IRS and state tax matters.
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. We have worked as managers, supervisors and also teaching instructors.
We can handle anything from an IRS simple notice or letter, to going IRS appeals, and even tax court. We are the full-service firm will all work being done in-house. We are used by other firms to do their backend work.
Your Current Financial Condition Determines How IRS Closes your Case
If you owe any IRS or State back taxes of any kind we can work out different tax solutions depending on your current financial condition.
Your current financial statement, as a general rule will determine the outcome of your case. Another factor to keep in mind is that most governments have a national standard, regional and localized standard expense tables that they used to determine the end result of your case.
You can find those national standards directly on our website and we will review them with you when reviewing your financial statement.
Keep in mind your financial statement will have to be verified by the Internal Revenue Service before they will render any determination on your case.
Included in that financial statement, the 433F, will be the last three months of canceled checks, copy of monthly expenses and a copy of pay stubs.
IRS does a full analysis of your financial statement before rendering a determination.
You want to make sure you are completely honest giving any government agency a financial statement.
IRS generally closes case by putting them in hardship or asking for a payment agreement or you have the possibility of settling your debt for pennies on the dollar if you are qualified candidate.
40% of all taxpayers that owe back tax debt have their cases put into a current uncollectible file and 6.5 million taxpayers enter into installment agreements.
We will carefully review your case and give you an expert opinion on whether your case is eligible for the fresh start initiative called the offer in compromise.
Over 41% of all taxpayers and apply for the offer in compromise program get accepted settlements but you must be a true qualified taxpayer for the program. The average settlement for the current year is $6500 per offer in compromise.
To find out whether you qualify for the offer in compromise program you can simply call us today or fill out the IRS pre-qualifier tool for the tax debt settlement call the offer in compromise.
FST can file all back tax returns and get this problem behind you so you can move on with your life.
Many times the Internal Revenue Service will not close your case off the system until all back tax returns are current up to date and they feel you are in compliance with your estimate or current withholding for the year we are in.
As a side note:
You want to make sure you file all your back tax returns if not the Internal Revenue Service will file all unfiled back tax returns and that will wind up being a nightmare.
IRS has the right to prepare your tax return under 6020 B of the code and they will give you no allowances for exemptions or expenses.
If IRS does this, you will pay the most of tax allowed by law.
ALREADY HAPPENED : If this has already happened to you, you may file for IRS audit reconsideration to reduce your tax liability.
You can call us today and we can advise you on how to handle the situation.
by Jim Magary | Jul 22, 2015 | Tax Help
“AFFORDABLE” Former IRS agents & managers who know the system can permanently resolve any IRS tax problem matter, since 1982, A plus rated.
Since 1982, we are a full service tax firm that specialize in IRS and state tax services.
We have over 206 years of professional tax experience.
All our work is done in-house. We specialize in IRS & State tax problem help services .
We can remove an IRS tax levy garnishment within 24 hours of receiving your current financial statement, talk to you about the removal of a federal tax lien, represent you during an IRS tax audit, file any and all back tax returns and talk you about the settlement of your tax debt through the offer in compromise if you are a suitable and eligible candidate.
We are true affordable IRS & State tax experts.
I am a former IRS revenue officer and former instructor who taught IRS collection agents their jobs.
We are uniquely qualified to help you with any IRS problem or matter.
From a simple IRS notice or letter to going to Tax Court we have a solution. A simple telephone call to our firm within minutes you will value on the best with your tax acquisition.
IRS Tax Problems Help + Removal of IRS Tax Levies + IRS Tax Wage Garnishments
The Internal Revenue Service levies approximately 1.8 million taxpayers each and every year and this figure includes and bank & wage garnishments.
The IRS files approximately 700,000 federal tax liens each year.
If you have been tax levied you are not alone.
If you have not responded to an IRS final notice they systematically send out an IRS tax levy from their CADE2 computer system. Not a human hand touches his tax levy they are all sent out my computer.
As a general rule IRS sends out a series of billing notices to the last known address.
The IRS billing notices or five weeks apart. You must respond to a final notice or enforcement action will follow six weeks later.
Before IRS will release the levy many times they want all on file tax returns in their hand to make sure you are in full compliance.
If you have received a final notice of intent to levy from the Internal Revenue Service make sure you follow-up on the 30 day date, if you don’t IRS will take enforcement action.
Before IRS will remove a tax levy or wage garnishment they will need a current and verifiable financial statement. The form to be used is the 433 f.
If the cases in the local office the revenue officer will require form 433a.
Once we have your current verified financial statement in hand, we can usually get your tax levy or garnishment released within 24 hours.
It is important that your financial statement is completely documented.
IRS usually closes a case by putting a case and tax hardship, having a taxpayer into a monthly installment agreement or telling them they may qualify for an offer in compromise your tax debt settlement.
IRS Facts:
40% of all people who owe IRS tax debt have their cases put into what is called a currently not collectible file and 6.5 million taxpayers have their cases put into current installment agreement or payments.
Please remember your current financial statement will determine the outcome of your case therefore it is critical to have a tax professional complete the financial information.
If you have back tax returns to file, you can have former IRS agents ensure that you are paying the lowest amount of tax allowed by law.
If you wish to settle your tax debt, we can have former IRS revenue officers who worked the offer in compromise program settle your tax debt if and only if you were a true candidate for a tax debt settlement called an offer in compromise.
If you are undergoing an IRS tax audit you can have a former IRS audit manager represent your best interest and provide the best possible tax defense.
We are the fast, friendly, and affordable professional tax firm.
Since 1982, A+ rated by the BBB.
Affordable IRS Tax Problem Help Services + IRS Levy Garnishments, Tax Liens+ IRS Audits + Back Tax Returns + Offer Settle Tax
by Jim Magary | Jul 22, 2015 | Tax Help
Keep Track of Miscellaneous Deductions
Miscellaneous deductions can cut taxes. These may include certain expenses you paid for in your work if you are an employee.
You must itemize deductions when you file to claim these costs. So if you usually claim the standard deduction, think about itemizing instead.
You might pay less tax if you itemize.
Here are some IRS tax tips you should know that may help you reduce your taxes:
Deductions Subject to the Limit.
You can deduct most miscellaneous costs only if their sum is more than two percent of your adjusted gross income.
These include expenses such as:
• Unreimbursed employee expenses.
• Job search costs for a new job in the same line of work.
• Some work clothes and uniforms.
• Tools for your job.
• Union dues. • Work-related travel and transportation.
• The cost you paid to prepare your tax return. These fees include the cost you paid for tax preparation software.
They also include any fee you paid for e-filing of your return.
Deductions Not Subject to the Limit.
Some deductions are not subject to the two percent limit. They include:
• Certain casualty and theft losses. In most cases, this rule applies to damaged or stolen property you held for investment.
This may include property such as stocks, bonds and works of art.
• Gambling losses up to the total of your gambling winnings.
• Losses from Ponzi-type investment schemes.
There are many expenses that you can’t deduct. For example, you can’t deduct personal living or family expenses.
You claim allowable miscellaneous deductions on Schedule A, Itemized Deductions.
For more about this topic see Publication 529, Miscellaneous Deductions. You can get it on IRS.gov/forms at any time.
