by Jim Magary | May 14, 2015 | Tax Help
We are a “Affordable” full service tax firm that specializes in all IRS matters/problems and have been doing so since 1982.
We have over 206 years of professional tax experience, over 60 years of working directly for the Internal Revenue Service in the local, district, and regional tax office of the Internal Revenue Service.
We know every system used by IRS.
If you have an IRS tax problem, owe back taxes, wish to file back/past due returns, enter into a IRS payment plan or wishing to settle your tax debt through an offer in compromise, we are one of the most efficient and affordable tax firms to call.
We are A+ rated by the Better Business Bureau and have been in private practice since 1982.
If you have any type of IRS problem, matter or situation you can contact us today for a free initial tax consultation and get true affordable tax release from true IRS tax experts.
All our work is done in-house by these experts.
We can explain in detail how you can settle your IRS taxes if you are a qualified candidate for the offer in compromise program.
The IRS Settlement Program
An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than the full amount owed. If the liabilities can be fully paid through an installment agreement or other means, the taxpayer will in most cases not be eligible for an OIC.
In order to be eligible for an OIC, the taxpayer must have:
- filed all tax returns,
made all required estimated tax payments for the current year and
made all required federal tax deposits for the current quarter if the taxpayer is a business owner with employees.
The IRS will not accept an OIC unless the amount offered by the taxpayer is equal to or greater than the reasonable collection potential (the RCP).
The RCP is how the IRS measures the taxpayer’s ability to pay. The RCP includes the value that can be realized from the taxpayer’s assets, such as real property, automobiles, bank accounts, and other property.
In addition to property, the RCP also includes anticipated future income, less certain amounts allowed for basic living expenses.
The IRS may accept an OIC based on three grounds.
1. First, acceptance is permitted if there is doubt as to liability.
This ground is only met when there is a genuine dispute as to the existence or amount of the correct tax debt under the law.
2. Second, acceptance is permitted if there is doubt that the amount owed is fully collectible.
Doubt as to collectibility exists in any case where the taxpayer’s assets and income are less than the full amount of the tax liability.
3. Third, acceptance is permitted based on effective tax administration.
An offer may be accepted based on effective tax administration when there is no doubt that the tax is legally owed and that the full amount owed can be collected, but requiring payment in full would either create an economic hardship or would be unfair and inequitable because of exceptional circumstances.
On the Fresh Start Tax staff are tax attorneys, certified public accountants, enrolled agents and former IRS agents managers and tax instructors.
We match you up specifically with the person who has the expertise with your particular tax matter situation.
A simple phone call to our firm and speaking to a tax expert will probably get you immediate relief to know your tax problem can be handled and managed by a true affordable tax professional.
Before hiring any tax resolution company check on the bios, the experience, and the complaint history before hiring any firm.
We are A+ rated by the Better Business Bureau and have been in practice since 1982.
Call us today for a free initial tax consultation.
It is important to note that any time IRS deals with the taxpayer on a current matter the IRS will make sure the taxpayers are in compliance with tax filings.
If you have back tax returns you need to file we can prepare those returns and have them on file with the Internal Revenue Service in a matter of days.
IRS Taxes = Owe Back Taxes, Filing Back, Past Tax Returns, IRS Payments, Settle Tax Debt = Lakewood, Napa, Redwood, Alameda, Redondo
by Jim Magary | May 14, 2015 | Tax Help
I was a former IRS agent and teaching instructor of the tax offer in compromise program at the Internal Revenue Service.
I worked in the local, district, and regional tax offices of the IRS.
I’m a true expert when it comes to the offer in compromise.Our firm understands all the settlement theories used by the IRS. It is important to remember that you must give IRS almost all your total equity in your assets before IRS will consider the acceptance of a tax offer in compromise.
I caution everyone before filing an offer to make sure they are qualified candidate.Not everyone is eligible.
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.
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. You will speak to a true tax professional.
Fresh Start Tax LLC
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.
The writer of this blog is a former revenue officer who both worked and was a former teaching instructor of the offer in compromise which is the way IRS settles IRS tax debt. Not only did I work the program at the Internal Revenue Service of the offer compromise, I was a teaching instructor. I know the program inside and out.
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. Before sending in your offer in compromise make sure your form is fully documented.
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
Tax Offer in Compromise
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
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 tax 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
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 of the tax offer in compromise
While your tax 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.
Tax Offer in Compromise IRS – Los Angeles, Former IRS OIC Settlement Agent, Since 1982 – Los Angeles
by Jim Magary | May 13, 2015 | Tax Help
Get Your Money Back Today, we can get your money back and your case settled.
“AFFORDABLE” Former IRS Agents & Managers that specialize in the removal of IRS tax levies, bank levies, and wage garnishment levies.
We know the system, since 1982. A plus rated BBB.
We are composed of tax attorneys, CPAs, and former IRS agents who know the system.
We have a streamlined process that can affordably solve your IRS tax debt issues or problems.
IRS files 1.9 million tax levies, bank levies,and wage garnishment each year, so you are not alone.
If you do not respond to the IRS the final notice, the IRS has no choice but to systemically send out an IRS bank or wage garnishment levy.
There Cade 2 computer system is the mother of all collection tools. This is the largest collection tool in the world. IRS keeps all your information on their enforcement system for the past seven years and uses it to collect back tax debt and enforce the tax laws.
IRS Levy Releases on Bank Accounts Frozen Bank Accounts
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.
There’s a very streamlined process too quickly, efficiently and for affordable fees get your IRS tax levy immediately released.
Our former IRS agents have worked in the local, district, and regional tax offices of the Internal Revenue Service.
The Required IRS Financial Statement is the 433F!
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.
IRS will require the last 3 months of bank statements, copy of all monthly 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 standards right on our website.
As a general rule IRS settles case by putting them into hardship, payment agreements or the recommendation of settling your tax debt to the offer in compromise.
How IRS cases close = The IRS places over 40% of their collection cases into a current tax hardship or uncollectible and over 6 million people enter into installment payments every year.
It is important for you to know if you owe back IRS tax debt, you will have to file all back tax returns before the Internal Revenue Service will negotiate with you.
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.
When speaking to somebody on our friendly staff, we will let you know if you are an eligible candidate to settle your tax debt through the offer in compromise program.
Last year there were 78,000 offers in compromise filed in close to 40% of more accepted by the Internal Revenue Service for average of $6500. Call us today to learn more about the offer in compromise program offered by the Internal Revenue Service.
Call us today for a free initial tax consultation and hear the truth about your case. We are A+ rated by the Better Business Bureau.
Los Angeles – Frozen Bank Account, Remove IRS Tax Levy, Get Your Money Back Now, Former IRS, AFFORDABLE
by Jim Magary | May 13, 2015 | Tax Help
AFFORDABLE Former IRS Agents & Managers that specialize in the removal of IRS tax levies, bank levies, and wage garnishment levies. We know the system, since 1982.
Since 1982 our firm has been resolving IRS tax matters. A plus rated BBB.
We are composed of tax attorneys, CPAs, and former IRS agents who know the system.
We have a streamlined process that can affordably solve your IRS tax debt.
When you call our offices we will go over a variety of solutions and resolutions to not only get your IRS wage garnishment levy released but close and settle your case all at the same time. We know the system!
IRS files 1.9 million tax levies each year. If you do not respond to the IRS the final notice, the IRS has no choice but to systemically send out an IRS bank or wage garnishment levy.
There Cade 2 computer system is the mother of all collection tools.
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.
There’s a very streamlined process too quickly, efficiently and for affordable fees get your IRS tax levy immediately released.
Our former IRS agents have worked in the local, district, and regional tax offices of the Internal Revenue Service.
Required Financial Statement- the 433F
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.
It will need to be a form 433F.
IRS will require the last 3 months of bank statements, copy of all monthly 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.
As a general rule IRS settles case by putting them into hardship, payment agreements or the recommendation of settling your tax debt to the offer in compromise.
How cases close = The IRS places over 40% of their collection cases into a current tax hardship or uncollectible and over 6 million people enter into installment payments every year.
It is important for you to know if you owe back IRS tax debt, you will have to file all back tax returns before the Internal Revenue Service will negotiate with you.
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.
When speaking to somebody on our friendly staff, we will let you know if you are an eligible candidate to settle your tax debt through the offer in compromise program.
Last year there were 78,000 offers in compromise filed in close to 40% of more accepted by the Internal Revenue Service for average of $6500.
Call us today to learn more about the offer in compromise program offered by the Internal Revenue Service.
We are the fast, friendly and affordable professional tax firm.
Los Angeles – Stop IRS Wage Garnishment Tax Levy, Affordable, Former IRS – IRS Tax Levy Settlements
by Jim Magary | May 13, 2015 | Tax Help
We are AFFORDABLE Former IRS Agents & Managers that specialize in the removal of IRS tax levies, bank levies, and wage garnishment levies. We know the system, since 1982.
We can get your levy released and settle your case all at one time.
IRS files 1.9 million tax levies each year. If you do not respond to the IRS final notice it has no choice but to systemically send out an IRS bank or wage garnishment levy.
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.
We have over 206 years professional tax experience and have been in private practice since 1982 and we are A+ rated by the Better Business Bureau.
There’s a very streamlined process too quickly, efficiently and for affordable fees get your IRS tax levy immediately released.
Our former IRS agents have worked in the local, district, and regional tax offices of the Internal Revenue Service.
Required Financial Statement
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.
It will need to be a form 433F.
IRS will require the last 3 months of bank statements, copy of all monthly expenses and a copy of your pay stub to verify your current financial statement. IRS does a thorough review of all financial statements and full documentation is needed.
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.
As a general rule IRS settles case by putting them into hardship, payment agreements or the recommendation of settling your tax debt to the offer in compromise.
The IRS places over 40% of their collection cases into a current tax hardship or uncollectible and over 6 million people enter into installment payments every year.
It is important for you to know if you owe back IRS tax debt, you will have to file all back tax returns before the Internal Revenue Service will negotiate with you.
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.
When speaking to somebody on our friendly staff, we will let you know if you are an eligible candidate to settle your tax debt through the offer in compromise program.
We are the fast, friendly and affordable professional tax firm.
Los Angeles – STOP IRS BANK, WAGE GARNISHMENT LEVY NOW & SETTLE, RESOLVE IRS TAX DEBT, Former IRS, Los Angeles
by Jim Magary | May 13, 2015 | Tax Help
Former AFFORDABLE IRS agents and managers who know the system can permanently resolve any IRS tax problem, since 1982.
We are a full service tax firm that specialize in IRS and state tax services. We specialize in IRS tax problems.
We are tax experts for removing IRS bank and wage garnishment levies, going to appeals or tax court, preparing back tax returns and settling your cases via the offer in compromise program if you are eligible candidate for the OIC program.
We can resolve any IRS tax problem we are a full service professional tax firm.
Our firm has over 206 years professional tax experience and over 60 years of working directly for the Internal Revenue Service. We also were former IRS managers.
When you call our office you will speak directly to a true IRS tax professional that has years and years of experience and have successfully worked hundreds of cases.
IRS Tax Problems = Remove IRS Tax Levies/IRS Garnishments
The Internal Revenue Service levies approximately 1.8 million taxpayers each and every year and this figure includes wage garnishments. This happens as a general rule because taxpayers fail to respond to final notices and/or the 1058 notice which has their tax rights enclosed.
The IRS files close to 700,000 federal tax liens each and every year that will both ruin and destroy your credit.
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. Form 433F.
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.
If you wish to go to IRS appeals, we have a professional staff that deals with IRS appeals alone.
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 going to owe tax, we can file your back tax returns and settle your debt all at the same time.
If you wish to settle your tax that 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.
Approximately 40% of all taxpayers who file an offer in compromise get accepted by the Internal Revenue Service however you must be a qualified candidate.
Call us today for a free initial tax consultation and hear the truth about your case from a true IRS tax expert.
IRS Tax Problem Services = Affordable = Remove IRS Tax Levies, File Back Tax Returns, Settle Debt + Lakewood, Napa, Redwood, Alameda, Redondo
