by Fresh Start Tax | May 7, 2014 | Tax Help
Have Former Affordable IRS Agents and Managers who know the system completely resolve any IRS tax problem you have including wage garnishment or bank levy or IRS tax debt relief through the IRS settlement program.
We have over 60 years of combined work experience in the local, district, and regional tax offices of the Internal Revenue Service including stints as IRS tax instructors who taught new IRS agents or job.
As a result of these years of experience at IRS we understand all the systems, protocols and the ways to get immediate and permanent IRS tax debt relief.
There are many other options to resolve your tax debt and various programs offered by the Internal Revenue Service. When you contact us we will review your current financial statement and recommend different tax options and resolution solutions.
How to Stop or Remove a IRS Tax Levy Bank or Wage Garnishment Levy
If you have just received an IRS notice of levy on a bank or on your wages you will need to call IRS and give them a current financial statement.
That financial statement will have to be on IRS form 433F.
That financial statement will be need t0 be fully documented and supported through pay stubs, bank statements and a copy and list of all monthly expenses.
The IRS will need to be called in the information faxed while speaking to the Agent.
IRS will review your financial statement and compare that against the national norms and standards of the nation, your district, and the geography in which you live.
This is called the national standards test.
After IRS reviews your current financial statement they will make a determination as to how your case will close and how your levy will be released.
Based on your current financial statement, the IRS will either place your case into a:
- non-collectible or hardship status,
- ask you to make a monthly installment payment or
- they can recommend you file for a offer in compromise.
- Everything is predicated on your financial statement.
It is very possible for us to get your levy release within 24 hours of receiving your fully documented financial statement.
Please note that the IRS will need to make sure all tax returns are filed, current, and up-to-date.
Please call us today for free initial tax consultation and speak directly to true tax experts.
We have been practicing since 1982 are A+ rated by the Better Business Bureau.
LEVY ,IRS Bank, Wage Garnishment, Immediate Tax Debt Relief, Chattanooga, Murfreesboro, Jackson
by Fresh Start Tax | May 7, 2014 | Tax Help
If you are having an IRS problem and need affordable professional tax advice who better to call than and former IRS agents, managers and former IRS tax instructors who taught tax law at the IRS.
We are comprised of tax attorneys, tax lawyers, certified public accountants, enrolled agents and our former IRS agents on staff have a combined 60 years of professional tax experience in the local, district, and regional tax offices of the IRS.
We are your affordable choice to solve any IRS tax problem.
Call us and get a free initial tax consultation from true tax experts to resolve any IRS issue from an initial IRS notice your bill to doing going to Tax Court.
We’ve been in practice since 1982 and are A+ rated by the Better Business Bureau.
Call us today for your free tax consult, you will be extremely glad and happy you did.
You will speak directly to experienced, trustworthy and friendly tax professional who are expert in the field of IRS resolution.
When you call, make sure to ask us about the new fresh start program or fresh start initiative that was started by the Internal Revenue Service to help taxpayers suffering from IRS tax problems.
IRS Tax Problem Help , Tax Consultant
by Fresh Start Tax | May 7, 2014 | Tax Help
You want to call us because we are former IRS agents and managers who completely understand the IRS tax levy system and program.
Being former IRS agents we have filed thousands of IRS tax levies when working for the IRS so we know exactly what it takes to get an immediate release of an IRS bank or wage garnishment levy.
We are the affordable tax firm.
If you did not reply to the last and final on IRS tax bill or tax notice, the Internal Revenue Service will systematically send out a bank or wage garnishment notice to all taxpayers or individuals.
You may find this hard to believe but the IRS does not want a levy taxpayers bank accounts or wages. They find no joy in that.
They simply are doing so to get the attention of the taxpayer to settle their tax bill with the Internal Revenue Service.
To get a full release of a IRS Bank Levy or Wage garnishment you will need to give IRS a current financial statement on form 433F. You can find that form on our website on the forms page.
We can usually get a IRS Bank or Wage Garnishment Released within 24 hours of receiving your current financial statement.
IRS will expect that financial statement the be completely documented along with bank statements, pay stubs, and monthly expenses.
The Internal Revenue Service will do a cost analysis of your income to expenses and apply those against the national, regional and geographical standards of the area you live.
As a result of their financial analysis, IRS will close your case and send you a release of the bank levy or wage garnishment levy and settle your case at the same time.
IRS when settling your case will recommend you file an offer in compromise, recommend that you be placed in a non-collectible file or recommend you start making monthly payments to the Internal Revenue Service.
Call us today and speak to a former IRS agent, manager, tax attorney to rectify your IRS tax levy at hand.
If you need to file back returns and have little or no records we can prepare all back tax returns under reconstructive methods.
Call us today for free initial tax consultation and we will quickly and affordably resolve your IRS situation.
Levy, IRS Bank, Wage Garnishments Tax Levies, Back Tax Returns, Clarksville, Gallatin, Cookeville
by Fresh Start Tax | May 7, 2014 | Tax Help
We are comprised of former IRS agents and managers who have been in practice since 1982 in are A+ rated by the Better Business Bureau.
Our former IRS agents have a combined 60 years of direct work experience in the local, district, and regional tax offices of the IRS.
We know every procedure for individuals or businesses to get an immediate and permanent IRS tax debt relief.
As a general rule, within 24 hours of receiving your current financial statement, we can get immediate releases of IRS bank or wage garnishment levy.
Call us today and we will review your case with the free initial tax consultation and let you know the various remedies available to get IRS tax debt relief or get a levy release on a bank levy or wage garnishment.
We can file all your back tax returns if you are going oh tax debt can settle your case at the same time. If you have little or no records we can prepare your tax returns under reconstructive methods.
Other IRS Tax Debt Relief Options
The Internal Revenue Service has expanded its “Fresh Start” initiative to help struggling taxpayers who owe taxes.
Expanded relief for taxpayers.
Penalty relief Part of the initiative relieves some unemployed taxpayers from failure-to-pay penalties. Penalties are one of the biggest factors a financially distressed taxpayer faces on a tax bill.
The Fresh Start Penalty Relief Initiative gives eligible taxpayers a six-month extension to fully pay 2011 taxes.
Interest still applies on the 2011 taxes from April 17, 2012 until the tax is paid, but you won’t face failure-to-pay penalties if you pay your tax, interest and any other penalties in full by Oct. 15, 2012.
The penalty relief is available to two categories of taxpayers:
1. Wage earners who have been unemployed at least 30 consecutive days
during 2011 or in 2012 up to this year’s April 17 tax deadline.
2. Self-employed individuals who experienced a 25 percent or greater
reduction in business income in 2011 due to the economy.
Qualifications
To qualify for this penalty relief, your adjusted gross income must not exceed $200,000 if married filing jointly or $100,000 if your filing status is single, married filing separately, head of household, or qualifying widower.
Your 2011 balance due can not exceed $50,000.
Taxpayers who qualify need to complete a new Form 1127A to request the 2011 penalty relief.
Installment agreements .An installment agreement is a payment option for those who cannot pay their entire tax bill by the due date.
The Fresh Start provisions give more taxpayers the ability to use streamlined installment agreements to catch up on back taxes and also more time to pay.
The new threshold for requesting an installment agreement has been raised from $25,000 to $50,000. This option requires limited financial information, meaning far less burden to the taxpayer.
The maximum term for streamlined installment agreements has been raised to six years from the current five-year maximum.
If your debt is more than $50,000, you’ll still need to supply the IRS with a Collection Information Statement (Form 433-A or Form 433-F). You also can pay your balance down to $50,000 or less to qualify for this payment option.
With an installment agreement, you’ll pay less in penalties, but interest continues to accrue on the outstanding balance. In order to qualify for the new expanded streamlined installment agreement, you must agree to monthly direct debit payments.
Offer in Compromise Under the first round of Fresh Start in 2011, the IRS expanded the Offer in Compromise (OIC) program to cover a larger group of struggling taxpayers.
An Offer in Compromise is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed.
The IRS recognizes many taxpayers are still struggling to pay their bills so the agency has been working on more common-sense changes to the OIC program to more closely reflect real-world situations.
An offer will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through a payment agreement.
The IRS looks at the taxpayer’s income and assets to make a determination regarding the taxpayer’s ability to pay.
IRS Tax Debt Relief, Levy, Garnishments, Back Tax Returns – Clarksville, Gallatin, Cookeville
by Fresh Start Tax | May 7, 2014 | Tax Help
I am a Former IRS Revenue Officer who worked and settled cases with the Internal Revenue Service. I am a tax expert for IRS collection procedures.
FACT – Over 38% of all those who apply for the Nationwide IRS tax debt settlement call the offer in compromise have settled there cases.
Last year over 78,000 offers in compromise were filed for taxpayers wanting to settle an old tax debt.
The average settlement was approximately $.14 on the dollar.
Before you go running off to try to settle your IRS tax debt you should know there are certain standards that are acceptable before the Internal Revenue Service for a tax debt settlement to be approved.
It is wise for taxpayers to go through the pre-qualifier tool that you can find out our website for the offer in compromise.
You will find out if you are an eligible candidate and you will also find out the lowest dollar amount the Internal Revenue Service will settle for.
It is also important to know that you must be very accurate on your tax debt settlement financial statement because the IRS will want everything in your financial statement documented for the last year.
Also make sure you have a complete package when you send it in to the IRS, if not, the IRS will immediately reject the tax debt settlement.
Please find below the IRS nationwide tax debt settlement relief program called the offer in compromise.
Offers In Compromise
What is a Offer in Compromise or the Nationwide Tax Debt Settlement Program?
An offer in compromise or tax settlement (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.
Eligibility requirements
In order to be eligible for an OIC, the taxpayer must have:
1. filed all tax returns,
2. made all required estimated tax payments for the current year and
3. 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.
Acceptance – The IRS may accept an OIC based on three grounds.
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.
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.
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.Generally these offers are accepted because of rarer circumstance usually because of medical conditions.
Application- Submission of the Nationwide Tax Debt Settlement Program
When submitting an OIC based on doubt as to collectibility or based on effective tax administration, taxpayers must use the most current version of:
Form 656, Offer in Compromise, and also submit Form 433-A (OIC) (PDF), Collection Information Statement for Wage Earners and Self-Employed Individuals, and/or
2. Form 433-B (OIC) (PDF), Collection Information Statement for Businesses.
3. A taxpayer submitting an OIC based on doubt as to liability must file a Form 656-L (PDF), Offer in Compromise (Doubt as to Liability), instead of Form 656 and Form 433-A (OIC) and/or Form 433-B (OIC). Form 656 can be found in the Offer in Compromise Booklet, Form 656-B (PDF).
A taxpayer must submit a $186 application fee with the Form 656. Do not combine this fee with any other tax payments.
There are, however, two exceptions to this requirement.
1. No application fee is required if the OIC is based on doubt as to liability.
2. the fee is not required if the taxpayer is an individual (not a corporation, partnership, or other entity) who qualifies for the low-income exception.
This exception applies if the taxpayer’s total monthly income falls at or below 250 percent of the poverty guidelines published by the Department of Health and Human Services. Section 4 of Form 656 contains the Low Income Certification guidelines to assist taxpayers in determining whether they qualify for the low-income exception.
A taxpayer who claims the low-income exception must complete section 4 of Form 656.
How to make payments for the tax debt settlement program
Taxpayers may choose to pay the offer amount in a lump sum or in installment payments.
- A “lump sum offer” is defined as an offer payable in 5 or fewer installments within 5 or fewer months after the offer is accepted. If a taxpayer submits a lump sum offer, the taxpayer must include with the Form 656 a nonrefundable payment equal to 20 percent of the offer amount. This payment is required in addition to the $186 application fee. The 20 percent payment is “nonrefundable” meaning it will not be returned to the taxpayer even if the offer is rejected or returned to the taxpayer without acceptance. Instead, the 20 percent payment will be applied to the taxpayer’s tax liability. The taxpayer has a right to specify the particular tax liability to which the IRS will apply the 20 percent payment.
- An offer is called a “periodic payment offer” under the tax law if it is payable in 6 or more monthly installments and within 24 months after the offer is accepted. When submitting a periodic payment offer, the taxpayer must include the first proposed installment payment along with the Form 656. This payment is required in addition to the $186 application fee. This amount is nonrefundable, just like the 20 percent payment required for a lump sum offer. Also, while the IRS is evaluating a periodic payment offer, the taxpayer must continue to make the installment payments provided for under the terms of the offer. These amounts are also nonrefundable. These amounts are applied to the tax liabilities and the taxpayer has a right to specify the particular tax liabilities to which the periodic payments will be applied.
If you have any questions call us today regarding the nationwide tax debt settlement program called the offer in compromise.
You’ll speak directly to true tax professionals who are affordable tax experts in this matter.
by Fresh Start Tax | May 6, 2014 | Tax Help
The Affordable Professional Choice.
Call us today and get true expert tax relief from tax attorneys, tax lawyers, certified public accountants, and former IRS agents.
We have been in practice since 1982 and are A+ rated by the Better Business Bureau.
Our former IRS agents and managers have a combined 60 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service.
FST are the affordable tax experts to give you immediate and permanent IRS tax relief.
IRS Tax Levy and Tax Garnishments
If you have received an IRS tax Levy garnishment you are not alone.
Close to 2 million people annually receive the heavy hand of the IRS through the tax levy or tax garnishment.
The only way that you can get your tax levy or tax garnishment released is to contact IRS and enter into an installment agreement or to give them a current financial statement declaring that you are a hardship candidate.
You’ll need to be prepared to give IRS the form 433-F along with complete documentation such as pay stubs, three months worth of bank statements, and a copy of all monthly expenses.
IRS will review your current financial statement and make a determination on how they will close your case. They will then issue an immediate release of the IRS tax levy or tax garnishment. You can get that IRS tax levy or tax garnishment released the day you provide IRS with the current financial statement.
Settle Back Tax Debt
If you wish to settle your back tax debt you’ll need to do that through the offer in compromise program.
No individual should submit an offer in compromise unless they know they are qualified and suitable candidate for the offer in compromise.
You can find on our site the IRS pre-qualifier tool to find out on our website and learn how to settle for the lowest allowed by law.
File Back Tax Returns
If you need to file your back tax returns and have little or no records we can simply pull an IRS income tax transcript to prepare your returns. We can them using reconstructive methods taught to us by the Internal Revenue Service as former IRS agents. It is like audit proofing your tax returns.
Call us today for a free initial tax consultation.
We are A+ rated by the Better Business Bureau have been in practice since 1982.
All our work is done in-house by qualified tax experts.
We can provide immediate and permanent tax relief of the IRS tax Levy, IRS tax garnishment.
Tax Relief ,Levy, Garnishment, File Back Tax Returns, Settle Tax Debt, Memphis, Knoxville, Nashville
