by Jim Magary | Apr 15, 2015 | Tax Help
We are an AFFORDABLE full service IRS Expert tax firm that specializes IRS tax levy & wage garnishment help and immediate tax settlement relief NOW.
We are composed of tax attorneys, tax lawyers, certified public accountants, enrolled agents and former IRS agents managers and tax instructors.
Due to our 60 years of working directly for the Internal Revenue Service we know the system inside and out. We can release your IRS tax levy and settle your case at the same time.
We know the system it can help you get your money back from the Internal Revenue Service if you have received an IRS tax levy, or wage garnishment levy.
Believe it or not, The Internal Revenue Service sends out close to 1.9 million IRS tax and wage garnishment levies each and every year. You are not alone!
The IRS sends out these levies as a result of taxpayers not responding to final notices. IRS sends out a series of four notices including the final notice before seizure.
There is a very specific system to get your IRS tax levy or IRS wage garnishment levy released / removed and we know the system because of our 60 years of direct IRS work experience.
A current financial statement – 433F
The Internal Revenue Service will need a current financial statement fully documented before they will release a tax levy.
After the Internal Revenue Service reviews your financial statement they will usually close your case in one of two ways.
The Internal Revenue Service may determine that you are currently uncollectible and then write off your case for two or three years or the IRS may insist on a monthly payment agreement.
The IRS monthly payment will be determined by your current financial statement and your relationship to your current living expenses and income based on the IRS national standards.
There are many taxpayers eligible for an offer in compromise to settle your tax debt.
38,000 taxpayer settled their tax debt with the Internal Revenue Service for an average of $.14 on the dollar. The average settlement is $6500 per taxpayer but remember that is just an average of all settlements.
When reviewing your case we will find out if you are eligible to settle your tax debt. The average settlement is $6500 per the latest statistics by the Department of treasury.
Call us today to review your case and we will immediately get your IRS tax levy or wage levy garnishment released and find out if you are an eligible candidate for the offer compromise program offered by the Internal Revenue Service.
We are the fast, friendly and affordable professional tax firm.
Call us today for a free initial tax consultation.
Expert IRS Tax Levy, Wage Garnishment Levy Removal & Settlement NOW + Former IRS, Affordable + Ontario, Lancaster, Elk Grove, Palmdale, Corona, Salinas
by Jim Magary | Apr 15, 2015 | Tax Help
Owe back taxes to the Internal Revenue Service or the State of California, call us today to hear various AFFORDABLE tax solutions to end your tax problems. Since 1982.
We are a tax specialty firm that deals with IRS and state tax problems.
We can help resolve any individual, business, or payroll tax problem that you have. We are A+ rated by the Better Business Bureau and have over 206 years of professional tax experience.
Dealing with the IRS
As a general rule once the Internal Revenue Service takes a current financial statement, a documented 433F, they will dispose/close the case in one of three ways.
After a careful review of your current documented financial statement they will either place you into:
1. an uncollectible hardship status, or CNC
2. ask for a payment agreement or installment arrangement ,
3. advise you could possibly be a tax settlement candidate for the offer in compromise program.
Call us today for a free initial tax consultation and we will review the various programs that both the federal and state governments have to resolve your tax debt.
When you call our offices you will speak to a true IRS or state tax professional. Beware of calling companies on the Internet.
Many companies are no more than advertising businesses truly for your business. Make sure you see bios on the site to make sure you are calling a true tax firm. Do not get ripped off by companies who are selling your information to third parties.
It is very important to note:
If you owe back federal or state tax debt the government agency will require you to be current within the year you are making the request.
Therefore you need to make current estimate payments, have your withholding up to date or be making current payroll tax deposits. the reason is simple, if you cannot make current tax deposits you cannot keep up with your tax debt.
I know this policy well because I am a former IRS revenue officer and teaching instructor.
The cardinal rule for IRS collections officers is simply this, if they can’t keep current they shouldn’t be in business.
Call us today and get a free initial tax consultation review of your case and we will go over with you the different solutions that you can live with.
If you owe individual taxes IRS will require a 433a if you will owe business taxes they will require a form 433B.
If you owe back IRS taxes make sure you have an exit strategy.
We are very truthful in our dealings with every taxpayer and many times our exit strategy are things that businesses may have never thought about.
We worked thousands of cases since 1982 are true IRS tax experts.
We are the fast, friendly and affordable professional tax firm
Owe Back Taxes IRS = Individual, Business, Payroll Tax Settlements + Payment Plans + Affordable Experts + Santa Clarita, Garden Grove, Santa Rosa, Oceanside, Rancho Cucamonga
by Jim Magary | Apr 15, 2015 | Tax Help
AFFORDABLE Former IRS agents and managers complete resolve your IRS problems. We know the system! 60 years experience as former IRS!
We are a full-service team that specializes in IRS back tax problem help.
FST can stop an IRS final notice prevent, stop an IRS tax levy or wage garnishment and settle in IRS tax debt through the offer in compromise program if you are a true debt settlement candidate.
We can handle anything from an IRS notice or letter even going to tax court if necessary.
Most IRS tax problems are handled administratively and are of a civil nature.
What we can do to help your back tax debt problem
Let me first start out by saying that we have over 60 years of direct work experience in the local, district, and regional tax offices of the Internal Revenue Service.
With that much experience we understand the codes, protocols, settlement theories , and all the avenues to resolve any IRS back tax debt problem.
We can stop an IRS final notice, we can stop an IRS tax or wage garnishment levy and file any back tax returns that are currently not on file.
As a general rule within 24 hours we can get your money back from Internal Revenue Service. Once we have your documented financial statement your case can will be resolved.
IRS is very methodical and system oriented on how they work cases involving back tax debt.
The IRS will make sure that all your tax returns are filed and as a general rule will attempt to secure current financial statement so they can take your case off of all IRS enforcement computers.
With that in mind, the Internal Revenue Service will generally remedy your case by putting it into a non-collectible file, asking you to make payments, or letting you know you could be a choice candidate to settle your debts are on offer compromise.
For IRS to work with you and settle and close your case you will need to file your back tax returns.
It is critical you file your back tax returns are IRS can file your returns for you this is not a good idea.
Call us today and speak to a true affordable IRS tax professional.
IRS Tax Problem Help – Final Notice of Intent, Tax Levy, Bank Wage Levy, File Returns, Offer in Compromise = Santa Clarita, Garden Grove, Santa Rosa, Oceanside, Rancho Cucamonga
by Jim Magary | Apr 15, 2015 | Tax Help
Paying Your Taxes
If you owe federal tax here are a dozen key points to keep in mind when you pay your taxes this year.
1. Never send cash.
Electronic payment options are the quickest and easiest way to pay your tax.
2. Check out IRS Direct Pay to pay directly from your bank account.
Access Direct Pay on IRS.gov. It’s secure and free. You will get instant confirmation that you have submitted your payment.
3. You can pay taxes electronically 24/7 on IRS.gov. Just click on the ‘Payments’ tab near the top left of the home page for details.
4. Pay in a single step by using your tax software when you e-file.
If you use a tax preparer, ask the preparer to make your tax payment electronically.
5. Whether you e-file your tax return or file on paper, you can choose to pay with a credit or debit card.
The company that processes your payment will charge a processing fee.
6. You may be able to deduct the credit or debit card processing fee on next year’s return. It’s claimed on Schedule A, Itemized Deductions.
7. Enroll in the Electronic Federal Tax Payment System.
You can use EFTPS to pay your federal taxes electronically.
You have a choice to pay using the Internet, or by phone using the EFTPS Voice Response System.
8. If you can’t pay electronically, you can still pay by a personal or cashier’s check or money order.
Make it payable to the “U.S. Treasury.” Be sure to write your name, address and daytime phone number on the front of your payment.
Also, write the tax year, form number you are filing and your Social Security number. Use the SSN shown first if it’s a joint return.
9. If you pay by paper check, complete Form 1040-V, Payment Voucher.
Mail it with your tax return and payment to the IRS. Make sure you send them to the address listed on the back of Form 1040-V.
This will help the IRS process your payment and post it to your account.
You can get the form on IRS.gov/forms at any time.
10. Remember to include your payment with your tax return but do not staple or clip it to any tax form.
by Jim Magary | Apr 15, 2015 | Tax Help
If you owe back taxes to the Internal Revenue Service you’re not alone. We are affordable tax experts that can permanently resolve your problem.
16 million taxpayers do not file annual tax returns, 6 million of taxpayers make payment or installment agreements, and 78,000 apply for the IRS settlement program called the offer in compromise,
There are two types of IRS payment plans and IRS installment plans/agreements.
The dollar amount you owe the IRS will determine which option you take.
Before you enter into a IRS payment plan with the Internal Revenue Service you should ask a tax professional which is the best option.
Besides consulting the tax professional, you should also find out if you are a qualified candidate for the offer in compromise or tax debt settlement program all at the same time.
If you call our office today we will review your IRS options for IRS payment plan or installment plan.
Call us today for a free initial tax consultation.
Having worked for the Internal Revenue Service for over 60 years will give us a unique edge on all our competition because we understand the programming, the system and the formatting for IRS payment installment agreements.
Depends on how much you owe
There are generally two types of IRS payment plans or installment agreements.
Two types = Those for taxpayers owing over $50,000 and those people throwing under $50,000 people for those taxpayers owing over $50,000
As soon as you know you are going to owe back taxes you should contact us so we can review all your tax options and let you know the details about setting up an IRS installment plan repayment plan.
Different type of installment agreements and payment plans.
- Individual Installment Agreement
This payment plan applies to individuals who owe $50,000 or less in income tax, interest, and penalties.
Remember this is combined. IRS looks at your total pay off amount not your tax alone.
With an installment agreement, you can make regular monthly payments over time. Payments can be made through Direct Debit (from your bank account), check or money order, credit card, EFTPS , payroll deduction , or an Online Payment Agreement .
When you set up an installment agreement, make sure you will be able to make the monthly payments without defaulting. the reason it is very important to contact a tax professional is to make sure you can pay your back tax and not do so just because of fear of the Internal Revenue Service.
Many people cannot pay back tax he should find out about the IRS program called currently not collectible.
If your income at exceeds your expenses based on the national averages IRS has the option to put your case into current hardship are currently not collectible.
We review each account to find out which is the best option for the taxpayer or business.
One simple phone telephone call to us today, believe it or not can end your problem because of our 60 years of direct working knowledge of the Internal Revenue Service
- Installment Agreement for Individuals
Taxpayers who Owe Over $50,000 plus
Individuals who fall into this category must submit Form 9465 as well as Form 433-F (Collection Information Statement).
Form 433F is used by ASC for obtaining your documented current financial information, in order to figure out how you can pay the overdue tax balance.
if your case is in the local office with a revenue officer they will insist on a verified form 433A.
You can find both 433 f and 433a on our website.
Both financial statement must include your last three months bank statements, a copy of your last paystub and a copy of all monthly expenses.
You want to make sure they’re absolutely no inconsistencies within them.
As a former IRS agent when you call our office will careful we review your financial statement for any inconsistencies. I urge cautions for all taxpayers giving IRS financial statements
Small Business Installment Agreement
Businesses that owe IRS back taxes of $25,000 or less in back taxes may request an “In-Business Trust Fund Express” installment agreement.
This type of payment plan usually doesn’t require a financial statement, although the business must currently have employees.
An IBTF-Express IA provides a 24-month period to fully pay the outstanding tax debt.
If the amount owed is greater than $10,000 (and below $25,000), the business must set up a Direct Debit installment agreement.
Costs for Installment or Payment Plans
Note that it costs $120 to set up a standard agreement or payroll deduction agreement, and $52 to set up a Direct Debit agreement.
If your income is below a certain level, the fee for setting up an installment agreement is $42.
To request this reduced fee, submit Form 13844 (Application for Reduced User Fee for Installment Agreements).
Call us today for a free initial tax consultation in hear the truth about dealing with IRS.
When speaking to us we will review with you the offer in compromise program to see if you’re eligible to settle your debt for pennies on the dollar.
The IRS Settlement Program, the Offer in Compromise
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: including your,
• Ability to pay;
• Total Income;
• All Expenses; and
• Asset equity including IRA and pensions.
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 for the settlement program
Before IRS can consider your offer settlement, you must be current with all filing and payment requirements.
IRS will conduct a full compliance check of all filings and making sure you have current withholding or estimate payments made in the year you are sending in the program settlement.
You are not eligible if you are in an open bankruptcy proceeding.
Step instructions and all the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B (PDF).
Your completed offer program 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 IRS payment options for installment or payment plans
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.
Call us today for a free initial tax consultation and speak to a true IRS tax professional.
We’re the fast, friendly, and affordable professional tax firm.
Owe Back Taxes to the IRS – Payment Plans, Installment Plans, Settlement Programs = You have Options, Former IRS Agents + Santa Clarita, Garden Grove, Santa Rosa, Oceanside, Rancho Cucamonga
by Jim Magary | Apr 15, 2015 | Tax Help
Have AFFORDABLE Former IRS agents and managers complete resolve your IRS problems. We know the system!
We can help settle back IRS taxes, file for IRS tax relief, file any and all back tax returns, remove an IRS bank or wage garnishment tax levy and defend you during an IRS tax audit.
We are a full service tax firm that has been specializing in IRS tax relief since 1982.
We can handle anything from an IRS notice or letter and including going to tax court.
We are affordable tax experts in the field of IRS tax resolution.
FST is affordable tax firm that has been practicing since 1982 and has an A+ rating by the Better Business Bureau.
What we can do to help your back tax debt problem
Let me first start out by saying that we have over 60 years of direct work experience in the local, district, and regional tax offices of the Internal Revenue Service.
With that much experience we understand the codes, protocols, settlement theories , and all the avenues to resolve any IRS back tax debt problem.
We know every possible system and solution as a result of our years of experience at the Internal Revenue Service.
We can stop an IRS final notice, we can stop an IRS tax or wage garnishment levy and file any back tax returns that are currently on filed.
IRS is very methodical and system oriented on how they work cases involving back tax debt. We know exactly how to resolve each situation in every case.
The IRS will make sure that all your tax returns are filed and as a general rule will attempt to secure current financial statement so they can take your case off of all IRS enforcement computers. If you do not file your tax returns the IRS will file for you under 6020 via the Internal Revenue Code.
With that in mind, the Internal Revenue Service will generally remedy your case by putting it into a non-collectible file. asking you to make payments, or letting you know you could be a choice candidate to settle your debts are on offer compromise.
Call us today and speak to a true IRS tax professional.
Before you engage or hire any tax company check out their BBB rating in their bios on their homepage.
If bios do not appear on their homepage you are speaking to an Internet marketing company course selling your information to third parties beware of these advertising companies.
If you wish to settle your back tax debt we will consider the filing of an offer in compromise and go over the two other protocols that IRS has to close your case off the IRS collection computer including making a payment agreement or having your case put temporarily in the non-collectible file.
We can file any and all back tax returns are unfiled with little or few records and get an IRS levy released within 24 hours or receiving your current financial statement. we’ll exactly how to prepare your return with little or no records because of our reconstructive training at the Internal Revenue Service. We can make sure you are paying the lowest amount of tax allowed by law.
We are the fast, friendly and affordable professional tax firm.
Settle Back IRS Taxes, File For Tax Relief, File Back Tax Returns, Levy, Audits + Former IRS Affordable = Santa Clarita, Garden Grove, Santa Rosa, Oceanside, Rancho Cucamonga
