by Fresh Start Tax | Mar 21, 2013 | Tax Help
Tax Preparation Services, Company – Pompano, Deerfield Beach, Former IRS 954-492-0088
Use former IRS agents and managers who worked out of the local South Florida IRS offices to prepare your income tax or business tax returns and assure that you are paying the lowest amount of tax allowed by law.
We can help audit proof your tax return.
Having been trained by the Internal Revenue Service and being former IRS instructors you cannot possibly go to a more competent tax firm. Over 60 years of working for the local IRS.
We have been practicing in South Florida since 1982 and we have an A+ rating by the Better Business Bureau.
Contact us today for a free initial tax consultation.
We are fast, affordable, and we love to build long-term relationships with all our clients.
Tax tips from Fresh Start Tax
Tax Rules for Children Who Have Investment Income
Some children receive investment income and are required to file a federal tax return. If a child cannot file his or her own tax return for any reason, such as age, the child’s parent or guardian is responsible for filing a return on the child’s behalf.
There are special tax rules that affect how parents report a child’s investment income. Some parents can include their child’s investment income on their tax return.
Other children may have to file their own tax return.
Here are facts about the tax-ability of your child’s investment income.
1. Investment income normally includes interest, dividends, capital gains and other unearned income, such as from a trust.
2. Special rules apply if your child’s total investment income is more than $1,900. The parent’s tax rate may apply to part of that income instead of the child’s tax rate.
3. If your child’s total interest and dividend income is less than $9,500, you may be able to include the income on your tax return. See Form 8814, Parents’ Election to Report Child’s Interest and Dividends. If you make this choice, the child does not file a return.
4. Your child must file their own tax return if they received investment income of $9,500 or more. File Form 8615, Tax for Certain Children Who Have Investment Income of More Than $1,900, with the child’s federal tax return.
by Fresh Start Tax | Mar 20, 2013 | Tax Help
Trucking Industry – Anything IRS Problem Related -Professional Tax Firm – Experts 1-866-700-1040
We are a professional tax firm that specialize in the trucking industry and any IRS issues, tax problems or tax situations you may have.
With over 60 years of direct IRS work experience in the local, district, and regional offices of the Internal Revenue Service we understand all the formats, protocol, and every available tax solution to fix any IRS or state tax issue, problems you have.
All work is done in house.
We have over 206 years professional tax experience and are comprised of tax attorneys, certified public accountants, and former IRS agents managers and instructors.
Contact us today for a free tax consultation and find out the truth about your case.
We are affordable and A+ rated by the Better Business Bureau. We have been practicing in private industry since 1982.
Tax Tips for the Trucking Industry
Good Record keeping
A good record keeping system can actually help you save money. Find out what kinds of records you should keep and learn how to create a record keeping system for your business. We have specialized forms for the Trucking Industry.
Cash vs. Accrual Accounting
There are two forms of accounting used by the small business – cash and accrual.
The best method for your company depends on a variety of factors which include the nature of your business, its legal business structure, and whether or not you extend credit.When we prepare back tax returns will will review your best course of action.
If you receive a IRS Notice or Bill
You must respond!
Receiving a notice from the IRS can be unnerving but you must respond to the given dates or you force the hand of the IRS. If a final notice is ever sent by the IRS and you do not respond IRS will follow up with liens and levies.
Haven’t Filed a Tax Return? Here’s What to Do
Simply give us your social security number and we will pull all of your past income records with the Internal Revenue Service. From there we can reconstruct your tax return for you. We are tax experts and reconstruction so do not be worried if you have not filed your back tax returns. It is very important that you get current on your tax filings so you find IRS before they find you.
Our Company Resume: ( Since 1982 )
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Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
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On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
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We taught Tax Law in the IRS Regional Training Center
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Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
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Highest Rating by the Better Business Bureau “A”
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Fast, affordable, and economical
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Licensed and certified to practice in all 50 States
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Nationally Recognized Veteran /Published Former IRS Agent
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Nationally Recognized Published EZINE Tax Expert
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As heard on GRACE Net Radio.com – Monthly Radio Show-Business Weekly
Areas of Professional Tax Practice:
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Same Day IRS Tax Representation
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Offers in Compromise or IRS Tax Debt Settlements
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Immediate Release of IRS Bank Levies or IRS Wage Garnishments
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Tax Relief from a IRS Bill, Letter or Notice of “Intent to Levy”
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IRS Tax Audits
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IRS Hardships Cases or Unable to Pay
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Payment Plans, Installment Agreements, Structured agreements
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Abatement of Penalties and Interest
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State Sales Tax Cases
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Payroll / Trust Fund Penalty Cases / 6672
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Filing Late, Back, Unfiled Tax Returns
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Tax Return Reconstruction if Tax Records are lost or destroyed
by Fresh Start Tax | Mar 20, 2013 | Tax Help
Are you a TRUCK DRIVER – IRS Tax Problems, Tax Levy, Unfiled Returns 1-866-700-1040
If you are a truck driver and are having IRS problems contact us and we will review your situation and tax problem and give you the best possible remedies to go ahead and permanently fix the IRS tax problem that you are having at this time.
As Former IRS Agents we know all the tax options.
Many times because truck drivers are on the road and not attentive to IRS notices and letters. With your frequency on road time, these IRS Bills and IRS notices are never received.
When these IRS notices and letters go unresolved, the IRS must systematically issue a notice of tax levy. Many times those IRS tax levies are in the form of either a bank levy and or a garnishment of wages.
What is a Tax Levy
A levy is a legal seizure of your property to satisfy a tax debt. Levies are different from liens.
A lien is a claim used as security for the tax debt, while a levy actually takes the property to satisfy the tax debt.
If you do not pay your taxes (or make arrangements to settle your debt), the IRS may seize and sell any type of real or personal property that you own or have an interest in.
For instance,
IRS could seize and sell property that you hold (such as your car, boat, or house), or
could levy property that is yours but is held by someone else (such as your wages, retirement accounts, dividends, bank accounts, licenses, rental income, accounts receivables, the cash loan value of your life insurance, or commissions).
IRS usually can levy only after these three requirements are met:
1. The IRS assessed the tax and sent you a Notice and Demand for Payment;
2. You neglected or refused to pay the tax; and
3. The sent you a Final Notice of Intent to Levy and Notice of Your Right to A Hearing (levy notice) at least 30 days before the levy.
IRS may give you this notice in person, leave it at your home or your usual place of business, or send it to your last known address by certified or registered mail, return receipt requested.
The majority of time taxpayers ( trucker drivers ) who have IRS problems and receive a IRS tax levy, 33% of the time have unfiled back tax returns that need to be brought up to date. IRS will generally not work with taxpayers who have unfiled tax returns.
Another problem for truck drivers is the fact that they are self-employed and responsible for making estimate tax payments.
Due to the cash flow and the high demands of bills and especially fuel cost, trucker drivers find it almost impossible to make estimate tax payments.
Just know it is in your best interest to attempt to make estimated tax payments so these problems stop reoccurring.
As a self-employed person, you are responsible for calculating your social security, matching it and then add to this an income tax amount. This is a killer!
The amount of total social security including Medicare is about 15% of what your net income is for that period plus the income tax that you should pay based on your tax bracket.
Many truck drivers have expenses to deduct.
You can deduct things like:
1. lease of the truck,
2. the insurance on the truck,
3. the fuel,
4. the repairs,
5. tolls.
6. licenses
You can also deduct for the depreciation of their truck. If they are interstate drivers and they spend the nights away from home they can deduct the travel expenses. They can also be allowed for meal expenses while on the road.
We at fresh start tax llc have very specific forms used for truck drivers to make sure they take every single tax deduction they are legally entitled to make sure they to the lowest amount of tax allowed by law.
Also if you are undergoing an IRS tax audit we can go ahead and defend that audit.
We have represented thousands of taxpayer since 1982.
No matter what you owe we can handle any IRS situation or tax problem you have.
Do not be bullied by the IRS.
With the new IRS fresh start initiative or fresh start program there are many new options available to truck drivers than ever before.
Contact us today and you will speak directly to a tax attorney, certified public accountant, or a former IRS agent.
Filing and Paying Heavy Highway Vehicle Use Tax
If you operate a truck or other vehicle categorized as a heavy highway motor vehicle on public highways, you must file Form 2290, Heavy Highway Vehicle Use Tax Return, and pay excise tax.
e-file Form 2290
All truck owners can now e-file Form 2290 and pay electronically.
You get your Schedule 1 almost immediately after we accept your e-filed return, and you can get your taxes done from your computer while you are on the road, any time of the day or night. If you are reporting 25 or more trucks on a return, you must file electronically.
by Fresh Start Tax | Mar 20, 2013 | Tax Help
Truck Driver – Owe IRS Back Taxes – Get IRS Settlements – Former IRS 1-866-700-1040
We are Former IRS Agents who are Tax Experts for the Trucking Industry.
Each industry has a very unique set of challenges and the trucking industry is no different. Over the years of our tax practice we have found that truck drivers who are on the road for long periods of time have difficultly getting tax returns filed in a timely manner. Many times they owe back taxes and have unfiled tax returns.
Many times there is no consistency for truck drivers who were making long hauls and forever on the road.
The problem is coupled with the fact that they do not get their mail on a consistent basis and many times they remain informed on letters and notices that IRS is sending them.
With this said, if you are a truck driver or in the trucking industry and you are having IRS issues and are looking for a tax settlement contact us today to find out your options on how can you best remedy your tax situation.
For those of you who are wanting to make an IRS tax settlement on back taxes called an offer in compromise, the IRS has a new fresh start program or fresh start initiative that can get you on your way to settle your taxes with the Internal Revenue Service.
Offers in Compromise/IRS Settlements
The IRS is also expanding a new streamlined Offer in Compromise (OIC) program to cover a larger group of struggling taxpayers.
This streamlined OIC is being expanded to allow taxpayers with annual incomes up to $100,000 to participate.
In addition, taxpayers must have tax liability of less than $50,000, doubling the current limit of $25,000 or less.
OICs ( Tax Settlement) are subject to acceptance based on legal requirements.
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.
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 Internal Revenue Service will look at the taxpayer’s assets with taxpayers income and all of the expenses related to the taxpayers lifestyle.
An offer in compromise on back taxes 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 will consider your unique set of facts and circumstances. There are no two cases the same. IRS will review the following:
1. Your ability to pay,
2. Your Income,
3. Your Expenses and,
4. Your Asset equity.
IRS can generally approve an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time.
The Offer in Compromise program on back taxes is not for everyone. You must meet the qualifications for an offer in compromise or an IRS tax debt settlement.
IRS accepts 25% of all OIC.
You will find on our website the IRS qualifier for the offer in compromise or tax settlement on back taxes.
If you hire a tax professional to help you file an offer, be sure to check his or her qualifications. Also make sure you check their BBB ratings.
Make sure you are eligible
a. Before the IRS can consider your offer, you must be current with all filing and payment requirements.
b. You are not eligible if you are in an open bankruptcy proceeding.
Submit your Offer or IRS Settlement
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).
Forms you will need
a. Form 433-A (OIC) (individuals) or 433-B (OIC) (businesses) and all required documentation as specified on the forms;
b. Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;
Application Fee
$150 application fee (non-refundable); and
Initial payment (non-refundable) for each Form 656.
Call us today to learn more about settling your back IRS taxes. We can review all your IRS tax options and see if you qualify for an IRS tax debt settlement called an offer in compromise.
We offer free initial consultations and you will speak directly to tax attorneys or former IRS agents.
Truck Driver -,Owe IRS Back Taxes , Get IRS Settlements , Former IRS
by Fresh Start Tax | Mar 20, 2013 | Tax Help
Trucking Industry – File Back, Past Due or Late Tax Returns – IRS Experts 1-866-700-1040
Call true IRS Tax Experts for the Trucking Industry. We are the affordable tax experts.
If you are in the truck industry and you are looking to file back, past-due or late tax returns with the Internal Revenue Service call us today and get the process started and get IRS off your back permanently .
We have over 60 years of direct experience with the Internal Revenue Service as agents, managers and tax instructors. We taught Tax Law at the IRS, we know the system. Let our experience work for you.
We know everything there is to know about filing your back tax returns and working out tax settlements so you can stop the worry.
We have filed thousands of tax returns since 1982 and are true experts in the truck driving industry.
If your records are lost that is not a problem. We are tax experts and reconstruction of past due income tax returns.
Filing Back Tax Returns – The process of filing back or unfiled tax returns: (Lost or few tax records )
If you have unfiled tax returns, this process Fresh Start Tax LLC uses to get current with the IRS and get you immediate and permanent tax relief
1. We verbally review a year by year history of your income and expenses.
2. We review any records you may have.
3 We pull all IRS information that they have received from 3rd party sources that have been placed on the IRS computer system over the past 7 years.
4. If you have lost all your records we have easy and simple forms that can help you reconstruct your tax return.
5. We can prepare through years of experience a “reconstructed” tax return that the IRS will accept and process.
6. We review all returns for accuracy with the client and send them into the IRS.
7. We work out a settlement agreement with the IRS to permanent close your tax case.
8. We have special worksheets for those in the trucking industry.
The new IRS program called Fresh Start Initiative can help you
In its latest effort to help struggling taxpayers, including those in the Truckers Drivers Industry, the Internal Revenue Service announced a series of new steps to help people get a fresh start with their tax liabilities. Finally, one for the man.
The goal of the IRS is to help individuals and small businesses meet their tax obligations, without adding unnecessary burden to taxpayers.
The IRS is announcing new policies and programs to help taxpayers pay back taxes and avoid tax liens.
This announcement centers on the IRS making important changes to its lien filing practices that will lessen the negative impact on taxpayers.
The changes will include:
a. Significantly increasing the dollar threshold when liens are generally issued, resulting in fewer tax liens.
b. Making it easier for taxpayers to obtain lien withdrawals after paying a tax bill.
c. Withdrawing liens in most cases where a taxpayer enters into a Direct Debit Installment Agreement.
d. Creating easier access to Installment Agreements for more struggling small businesses.
e. Expanding a streamlined Offer in Compromise program to cover more taxpayers.
General Information – Effect of government regulation on audit other than IRS
Government agencies (other than the IRS) are mostly concerned with:
- Safety violations.
- Price floors.
- Weight classes and rates.
For the most part, the Government agencies are interested in monitoring items that are of little use in an audit of a tax return. They are mainly interested in the following areas:
- Freight Rates.
- Issuance of operating permits.
- Authority to establish routes and types of commodities.
- Provides guidelines on financial and accounting practices.
- Provides safety and hazardous materials guidelines.
- Hours of service for drivers.
Although the authority of some of these regulatory agencies has been diminished due to deregulation of the industry, their presence is still effective in setting standards for the industry to follow.
Trucking Drivers Industry – File Back, Past Due or Late Tax Returns – IRS Experts
by Fresh Start Tax | Mar 19, 2013 | Tax Help
Truck Drivers & Industry – IRS Tax Levy Garnishments – Tax Relief – Former IRS 1-866-700-1040
If you have just received an IRS Tax Levy on your Bank Account or to your Employer, call us today to get fast, affordable and immediate IRS tax Levy relief.
We are comprised of tax attorneys, Certified Public Accountants , and former IRS agents.
We have over 60 years with the Internal Revenue Service and the local, district, and regional tax offices of the Internal Revenue Service.
We know the exact formats and protocols to get an IRS tax Levy garnishment released and get your cased closed off the IRS enforcement computer.
What will be needed to get a Release of an IRS Tax Levy garnishment
Believe it or not, IRS does not want to levy your bank account or levy your employer. IRS does this because taxpayers have failed to respond to the IRS final notice of seizure that was sent to the taxpayer’s last known address.
Because of this the CADE 2 computer system of the IRS automatically and systematically sends out an IRS tax Levy to your last known employer or to your last known bank account.
To get your Tax Levy Garnishment released IRS will need a current financial statement along with all documentation to support the numbers reflected on that financial statement. IRS will use the form 433-f to verify your assets, income, and expenses.
After IRS carefully reviews your current financial statement and documentation IRS will place you in one of three categories
The three categories for Tax Relief are:
1. IRS will place you into an economic hardship,
2. IRS will ask for installment repayment arrangement from you,
3. IRS will advise you that you are an offer in compromise candidate which is also known as an IRS tax debt settlements.
Tips for IRS Tax Levy Garnishment Releases
1.Have a 433 F filled out and ready to go,(find on our website )
2. Have all documentation on financial statement ready to fax to the IRS,
3. Make sure all your tax returns are filed.
Due to the new fresh start tax initiative set forth by Internal Revenue Service IRS has made tax settlements much easier.
Offers in Compromise or Tax Debt Settlements
The IRS is also expanding a new streamlined Offer in Compromise (OIC) program to cover a larger group of struggling taxpayers.
This streamlined OIC is being expanded to allow taxpayers with annual incomes up to $100,000 to participate.
In addition, participants must have tax liability of less than $50,000, doubling the current limit of $25,000 or less.
OICs are subject to acceptance based on legal requirements.
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.
Generally, 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.
See our website for more details on IRS Tax Settlements or call us today for more details.
Truck Drivers & Industry – IRS Tax Levy Garnishments – Tax Relief – Former IRS
