by Fresh Start Tax | Mar 8, 2013 | Tax Help
Income, Business Tax Returns, Audit Proof Tax Returns with Former IRS Agents 954-492-0088
We are A+ rated by the Better Business Bureau and have been serving South Florida since 1982.
There is a very simple way to help audit proof your tax return from the Internal Revenue Service, do not put yourself in a position to have your tax return audited. Also have former IRS agents, managers and tax instructors prepare your tax return and give you the tax advice you need so you never have to worry about the IRS auditing the past three years of income or business tax return.
We are comprised of CPAs, enrolled agents and former IRS agents who were both teaching instructors and former audit managers at the local IRS offices.
We have over 60 years of direct work experience in the local South Florida IRS office. We also caught tax law.
We can assure that you will pay the lowest amount allowed by law and we are here to assist on any of your financial planning or tax services need with our professional staff. Also on staff are tax attorneys and tax lawyers for any income or business tax returns that need more complex planning
Tax tips from Fresh Start Tax LLC for your Income or Business Tax Returns
Medical or Dental expenses.
If you paid for medical or dental expenses in 2012, you may be able to get a tax deduction for costs not covered by insurance.
1. You must itemize.
You can only claim medical and dental expenses for costs not covered by insurance if you itemize deductions on your tax return. You cannot claim medical and dental expenses if you take the standard deduction.
2. Deduction is limited.
You can deduct medical and dental expenses that are more than 7.5 percent of your adjusted gross income.
3. Expenses paid in 2012.
You can include medical and dental costs that you paid in 2012, even if you received the services in a previous year. Keep good records to show the amount that you paid.
4. Qualifying expenses.
You may include most medical or dental costs that you paid for yourself, your spouse and your dependents. Some exceptions and special rules apply. Visit IRS.gov for more details.
5. Costs to include.
You can normally claim the costs of diagnosing, treating, easing or preventing disease. The costs of prescription drugs and insulin qualify. The cost of medical, dental and some long-term care insurance also qualify.
6. Travel is included.
You may be able to claim the cost of travel to obtain medical care. That includes the cost of public transportation or an ambulance as well as tolls and parking fees.
If you use your car for medical travel, you can deduct the actual costs, including gas and oil. Instead of deducting the actual costs, you can deduct the standard mileage rate for medical travel, which is 23 cents per mile for 2012.
7. No double benefit.
Funds from Health Savings Accounts or Flexible Spending Arrangements used to pay for medical or dental costs are usually tax-free. Therefore, you cannot deduct expenses paid with funds from those plans.
Income, Business Tax Returns, Audit Proof Tax Returns with Former IRS Agents
by Fresh Start Tax | Mar 8, 2013 | Tax Help
Tax Attorney, Tax Lawyer, IRS Levy, Tax Audit, Tax Help – Former IRS Agents – Ft. Lauderdale, Miami, Palm Beaches 954-492-0088
We are anything IRS related.
Since 1982 we have practiced right here in South Florida.
We are comprised of tax attorneys, tax lawyers, CPAs and former IRS agents.
We have over 60 years of directly working for the Internal Revenue Service in the local South Florida IRS offices.
We have held positions as agents, managers, teaching instructors and former IRS appeals agents. With our combined 60 years of direct experience right here in South Florida we’ve worked thousands of taxpayer cases.
Since 1982 we have been representing South Floridians with any of their IRS needs, IRS problems, and IRS matters.
We can help release any IRS tax levies, tax liens and work out any tax settlements that you may have with the IRS. If you are undergoing an IRS tax audit we have former IRS audit managers, revenue agents and appeals agents to go ahead and deal with any matter or complications as a result of an IRS tax audit.
Should you wind up owing money to the Internal Revenue Service we can negotiate a tax settlement for you.
Call us today for a free tax consultation and you will speak directly to a tax attorney, tax lawyer, former IRS agent.
We are very affordable and we are A+ rated by the Better Business Bureau.
When you call we will go over the new IRS program called the Fresh Start Initiative. IRS is now dealing with taxpayers and have IRS matters in a way that persons can go ahead and deal with their tax issue in a more user-friendly way.
New IRS Fresh Start Initiative
The Internal Revenue Service has expanded its “Fresh Start” initiative to help struggling taxpayers who owe taxes.
The following four tips explain the expanded relief for taxpayers.
Penalty Relief Part.
This 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.
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 IRS maximum term for streamlined installment agreements has been raised to six years from the current five-year maximum.
If your tax 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 IRS 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, IRS Tax Debt Settlement
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 or Tax Debt Settlement 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 finally 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.
For more about offers or tax debt settlements call us today. Taxpayer should never file an offer in compromise or a tax debt settlement without seeking professional help. Being a former IRS agent and teaching instructor I can tell you firsthand that those taxpayers who file their offer in compromise using their own knowledge and skill are doomed for failure. The offer in compromise though is simple on the outside however it is a very complex procedure when work by Internal Revenue Service.
Call us today and get a free initial tax consultation and speak directly of tax attorneys, tax lawyers, former IRS agents. We are friendly and very affordable.
Tax Attorney, Tax Lawyer, IRS Levy, Tax Audit, Tax Help, Former IRS Agents, Ft. Lauderdale, Miami, Palm Beaches
by Fresh Start Tax | Mar 7, 2013 | Income Tax Preparation, Tax Help
Income Tax Preparation Service, A Plus Rated, Affordable – Former IRS – Since 1982 954-492-0088
We are a professional tax firm that are experts in income tax preparation. We offer a full range of services and financial planning that benefits all your tax needs, business needs and can give you peace of mind for your financial future.
We are comprised of tax attorneys, certified public accountants, enrolled agents, and former IRS agents.
On staff are former IRS audit managers and teaching instructors that taught income tax law at the Internal Revenue Service. As a result of our years experience at IRS we can ensure and guarantee that you pay the lowest amount of tax allowed by law.
We can help audit proof your tax return so you never have the fear of IRS.
We have a combined 206 years of professional tax experience and over 60 years of working directly for the Internal Revenue Service and the local South Florida IRS offices as well as the district and regional offices of IRS.
Since 1982 we have been building long-term relationships with all our clients and please note that we are A+ rated by the Better Business Bureau.
Come by and visit our offices today and see why we are used by hundreds of South Floridians to both prepare their income tax and set up their financial planning.
Income Tax Preparation Service, Fresh Start Tax – Tips
Ten Facts about Capital Gains and Losses
The term “capital asset” for tax purposes applies to almost everything you own and use for personal or investment purposes. A capital gain or loss occurs when you sell a capital asset.
Here are 10 facts on capital gains and losses:
1. Almost everything you own and use for personal purposes, pleasure or investment is a capital asset. Capital assets include your home, household furnishings, and stocks and bonds that you hold as investments.
2. A capital gain or loss is the difference between your basis of an asset and the amount you receive when you sell it. Your basis is usually what you paid for the asset.
3. You must include all capital gains in your income.
4. You may deduct capital losses on the sale of investment property. You cannot deduct losses on the sale of personal-use property.
5. Capital gains and losses are long-term or short-term, depending on how long you hold on to the property. If you hold the property more than one year, your capital gain or loss is long-term. If you hold it one year or less, the gain or loss is short-term.
6. If your long-term gains exceed your long-term losses, the difference between the two is a net long-term capital gain. If your net long-term capital gain is more than your net short-term capital loss, you have a ‘net capital gain.’
7. The tax rates that apply to net capital gains are generally lower than the tax rates that apply to other types of income.
The maximum capital gains rate for most people in 2012 is 15 percent.
For lower-income individuals, the rate may be 0 percent on some or all of their net capital gains. Rates of 25 or 28 percent can also apply to special types of net capital gains.
8. If your capital losses are greater than your capital gains, you can deduct the difference between the two on your tax return.
The annual limit on this deduction is $3,000, or $1,500 if you are married filing separately.
9. If your total net capital loss is more than the limit you can deduct, you can carry over the losses you are not able to deduct to next year’s tax return. You will treat those losses as if they occurred that year.
10. Form 8949, Sales and Other Dispositions of Capital Assets, will help you calculate capital gains and losses. You will carry over the subtotals from this form to Schedule D, Capital Gains and Losses.
If you e-file your tax return, most software will do this for you.
Contact us today to learn more about our income tax preparation service. We are A+ rated by the Better Business Bureau and have been serving South Florida since 1982. We look forward to meeting you
by Fresh Start Tax | Mar 5, 2013 | Tax Help
FBAR HELP – The latest in FBAR News – Tax Attorneys, Tax Lawyers – Expert FBAR Help 1-866-700-1040
IRS is hot on the trail of those taxpayers who have failed to file FBAR reports .
Call us today and speak directly to tax attorneys, tax lawyers, CPAs and former IRS agents who are tax experts and FBAR regulation. We offer FBAR help, assistance and FBAR tax representation and consulting.
Call us today and stop the worry and stress and make sure IRS stays off your back.We want to reach out to the IRS before they reach out to you!
You should know that IRS is making a living off all those taxpayers required to file FBAR forms and do to the success they’ve ( the IRS ) had in the recent program IRS is forming special groups both criminal and civil to go ahead and deal with taxpayers who are failing to report FBAR.
The latest in FBAR news
The IRS collected more than $50 billion in enforcement revenue in FY 2012, the third year in a row topping that figure. The 2012 numbers were lower than 2010 and 2011, which were unusual years with enforcement dollars helped by large numbers of offshore tax cases coming in.
More than 38,000 disclosures of offshore accounts have been made to date through the IRS’ offshore voluntary disclosure programs.
In addition, the economic slowdown contributed to lower enforcement figures, as most enforcement dollars collected resulted from audits of returns for years during the slowdown.
Who must file FBAR
If you have a financial interest in or signature authority over a foreign financial account, including a bank account, brokerage account, mutual fund, trust, or other type of foreign financial account, the Bank Secrecy Act may require you to report the account yearly to the Internal Revenue Service by filing Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR). If you need FBAR Help you should seek true tax professionals. 1-866-700-1040
The FBAR is required because foreign financial institutions may not be subject to the same reporting requirements as domestic financial institutions.
The FBAR is a tool to help the United States government identify persons who may be using foreign financial accounts to circumvent United States law. IRS keeps a list of all those Fbar prosecutions on the IRS website and you can find those@IRS.gov.
FBAR Help – FBAR pressure
During the last three years the United States government has put pressure on foreign countries and institutions that have not been aiding the Internal Revenue Service in turning over the list of taxpayers that have foreign bank accounts. When Lichtenstein fell the rest of the countries fell like dominoes. The IRS and the Department of Justice is not willing to play games anymore and they are using the fear of criminal prosecution to go after those who willfully failed to file FBAR reports
Tax Investigators use FBARs to help identify or trace funds used for illicit purposes or to identify unreported income maintained or generated abroad.
The most Recent FBAR Guidance
On February 24, the Treasury Department published final regulations amending the FBAR regulations.
These regulations became effective March 28, 2011, and apply to FBARs required to be filed with respect to foreign financial accounts maintained in calendar year 2010, and for FBARs required to be filed with respect to all subsequent calendar years.
The FBAR form and instructions (PDF) have been revised to reflect the amendments made by the final regulations.
Financial Crimes Enforcement Network
On May 31, 2011, the Financial Crimes Enforcement Network (FinCEN) issued FinCEN Notice 2011-1 (PDF), revised June 6, 2011, to provide filing deferral to certain individuals with signature authority over, but no financial interest in, foreign financial accounts of their employer or a closely related entity.
Filing deadlines for FBAR
The filing deadline for employees and officers to report signature authority over these accounts was extended to June 30, 2012, for the following individuals:
a. An employee or officer of an entity under 31 CFR § 1010.350(f)(2)(i)-(v) who has signature or other authority over and no financial interest in a foreign financial account of b. a controlled person of the entity; or
c. An employee or officer of a controlled person of an entity under 31 CFR § 1010.350(f)(2)(i)-(v) who has signature or other authority over and no financial interest in a foreign financial account of the entity, the controlled person, or another controlled person of the entity.
For purposes of FinCEN Notice 2011-1,
For purposes of FinCEN Notice 2011-1, a controlled person is a United States or foreign entity more than 50 percent owned (directly or indirectly) by an entity under 31 CFR § 1010.350(f)(2)(i)-(v).
On June 17, 2011, FinCEN issued Notice 2011-2 (PDF) to provide filing deferral for certain officers or employees of investment advisers registered with the Securities and Exchange Commission who have signature authority over, but no financial interest in, foreign financial accounts of their employer.
The filing deadline for employees and officers to report signature authority over these accounts was similarly extended to June 30, 2012.
Due to additional questions and concerns regarding the signature authority filing exceptions within Notice 2011-1 and Notice 2011-2, FinCEN twice extended the revised filing deadlines imposed by those two notices.
On February 14, 2012, FinCEN issued FinCEN Notice 2012-1 (PDF), extending the reporting deadline to June 30, 2013, for signature authority reporting of the employees and officers identified in Notice 2011-1 and Notice 2011-2, to the same extent of reporting as originally set forth in those notices.
More recently, on December 26, 2012, FinCEN issued Notice 2012-2, further extending this same filing deferral to June 30, 2014.
All other U.S. persons required to file an FBAR this year are required to meet the June 30, 2013 filing date.
On Jan 9, 2012, the IRS reopened the Offshore Voluntary Disclosure Program following continued interest from taxpayers and tax practitioners after the closure of the 2011 and 2009 programs.
This program will be open for an indefinite period until otherwise announced.
United States persons are required to file an FBAR if:
1. The United States person had a financial interest in or signature authority over at least one financial account located outside of the United States; and,
2. The aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year to be reported.
United States person means
United States person means United States citizens; United States residents; entities, including but not limited to, corporations, partnerships, or limited liability companies created or organized in the United States or under the laws of the United States; and trusts or estates formed under the laws of the United States.
Exceptions to the Reporting Requirement
Exceptions to the FBAR reporting requirements can be found in the FBAR instructions. There are filing exceptions for the following United States persons or foreign financial accounts:
1. Certain foreign financial accounts jointly owned by spouses;
2. United States persons included in a consolidated FBAR;
3. Correspondent/nostro accounts;
4. Foreign financial accounts owned by a governmental entity;
5. Foreign financial accounts owned by an international financial institution;
6. IRA owners and beneficiaries;
7. Participants in and beneficiaries of tax-qualified retirement plans;
8. Certain individuals with signature authority over but no financial interest in a foreign financial account;
9. Trust beneficiaries; and
10. Foreign financial accounts maintained on a United States military banking facility.
Reporting and Filing Information
A person who holds a foreign financial account may have a reporting obligation even though the account produces no taxable income.
Checking the appropriate block on FBAR-related federal tax return or information return questions (for example, on Schedule B of Form 1040, the “Other Information” section of Form 1041, Schedule B of Form 1065, and Schedule N of Form 1120) and filing the FBAR, satisfies the account holder’s reporting obligation.
The FBAR is not filed with the filer’s federal income tax return.
The granting, by the IRS, of an extension to file federal income tax returns does not extend the due date for filing an FBAR. You may not request an extension for filing the FBAR. The FBAR is an annual report and must be received by the Department of the Treasury in Detroit, MI, on or before June 30th of the year following the calendar year being reported.
While FinCEN strongly encourages individuals to electronically file FBARs, the form can be mailed to one of the two addresses below, provided that the mailing is received by June 30, 2013:
File by mailing the FBAR to:
United States Department of the Treasury
P.O. Box 32621
Detroit, MI 48232-0621
If an express delivery service is required for a timely filed FBAR, address the parcel to:
IRS Enterprise Computing Center
ATTN: CTR Operations Mail room, 4th Floor
985 Michigan Avenue
Detroit, MI 48226
Delivery messenger service contact telephone number: (313) 234-1062.
Account holders who do not comply with the FBAR reporting requirements may be subject to civil penalties, criminal penalties, or both.
Electronic Filing for FBAR Forms – MANDATORY Beginning July 1, 2013
On June 29, 2011, FinCEN announced that all FinCEN forms must be filed electronically with certain exceptions. The FBAR was granted a general exemption from mandatory electronic filing through June 30, 2013. E-filing is a quick and secure way for individuals to file FBARs.
Filers will receive an acknowledgement of each submission. For more information about FBAR e-filing, read the FinCEN news release.
New Reporting Requirements by U.S. Taxpayers Holding Foreign Financial Assets (Form 8938)
Taxpayers with specified foreign financial assets that exceed certain thresholds must report those assets to the IRS on Form 8938, Statement of Specified Foreign Financial Assets. The new Form 8938 filing requirement does not replace or otherwise affect a taxpayers requirement to file FBAR.
Call us today for free tax consultation and get the FBAR help that you are looking for.
FBAR HELP -The Latest in FBAR News -Tax Attorneys, Tax Lawyers – FBAR Reporting Help
by Fresh Start Tax | Mar 5, 2013 | Tax Help
Tax Lawyer – IRS Tax Resolution , IRS Tax Experts Ft.Lauderdale, Miami – South Florida 954-492-0088
We are comprised of Local Tax Lawyer Attorneys, CPAs, Enrolled Agents, and former IRS agents, managers and instructors who worked in the local South Florida IRS offices.
Our firm has over 206 years of professional tax experience and over 60 years of working directly for the Internal Revenue Service as agents, managers, appeals agents and former IRS personnel who taught tax law at the IRS.
If you have any IRS tax situation and need help in IRS tax resolution contact us for a free IRS tax consultation today. You will speak directly to tax lawyer attorneys, CPAs, or former IRS agents.
As a result of her years of experience and knowledge of the Internal Revenue Service we can offer you a variety of options and solutions to best remedy your situation.
Do not be stressed or worried, let us take the worry out and stress out of your the situation.
On any matters that pertain to attorney-client privilege you will be directed only to our tax attorney lawyers.
When hiring a tax lawyer the best advice that we can give you is to make sure you interview the person that will be handling your sensitive IRS tax issues.
Call us today for free tax consultation or come and visit our offices so you can find out who are some of the best IRS tax resolution experts in the South Florida Miami and Fort Lauderdale area.
Areas of Professional Tax Practice:
- Same Day IRS Tax Representation
- Offers in Compromise or IRS Tax Debt Settlements
- Immediate Release of IRS Bank Levies or IRS Wage Garnishments
- Tax Relief from a IRS Bill, Letter or Notice of “Intent to Levy”
- IRS Tax Audits
- IRS Hardships Cases or Unable to Pay
- Payment Plans, Installment Agreements, Structured agreements
- Abatement of Penalties and Interest
- State Sales Tax Cases
- Payroll / Trust Fund Penalty Cases / 6672
- Filing Late, Back, Unfiled Tax Returns
- Tax Return Reconstruction if Tax Records are lost or destroyed
Our Company Resume: ( Since 1982 )
- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- We taught Tax Law in the IRS Regional Training Center
- Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed and certified to practice in all 50 States
- Nationally Recognized Veteran /Published Former IRS Agent
- Nationally Recognized Published EZINE Tax Expert
- As heard on GRACE Net Radio.com – Monthly Radio Show-Business Weekly
- Tax Lawyer Experts, Tax Resolution Experts
New Penalty Relief Initiative by the Internal Revenue Service
The IRS announced plans for new penalty relief for the unemployed on failure-to-pay penalties, which are one of the biggest factors a financially distressed taxpayer faces on a tax bill.
To assist those most in need, a six-month grace period on failure-to-pay penalties will be made available to certain wage earners and self-employed individuals. The request for an extension of time to pay will result in relief from the failure to pay penalty for tax year 2011 only if the tax, interest and any other penalties are fully paid by Oct. 15, 2012.
The penalty relief will be available to two categories of taxpayers:
Wage earners who have been unemployed at least 30 consecutive days during 2011 or in 2012 up to the April 17 deadline for filing a federal tax return this year.
Self-employed individuals who experienced a 25 percent or greater reduction in business income in 2011 due to the economy.
This IRS penalty relief is subject to income limits.
A taxpayer’s income must not exceed $200,000 if he or she files as married filing jointly or not exceed $100,000 if he or she files as single or head of household.
This penalty relief is also restricted to taxpayers whose calendar year 2011 balance due does not exceed $50,000.
Taxpayers meeting the eligibility criteria will need to complete a new Form 1127A to seek the 2011 penalty relief.
The failure-to-pay penalty is generally half of 1 percent per month with an upper limit of 25 percent.
Under this brand new IRS relief, taxpayers can avoid that penalty until Oct. 15, 2012, which is six months beyond this year’s filing deadline.
However, the IRS is still legally required to charge interest on unpaid back taxes and does not have the authority to waive this charge, which is currently 3 percent on an annual basis.
Even with the new penalty relief becoming available, the IRS strongly encourages taxpayers to file their returns on time by April 17 or file for an extension. Failure-to-file penalties applied to unpaid taxes remain in effect and are generally 5 percent per month, also with a 25 percent cap.
Tax Lawyer – IRS Tax Resolution , IRS Tax Experts – Ft.Lauderdale, Miami – South Florida
by Fresh Start Tax | Mar 5, 2013 | Tax Help
IRS Asset Seizure – Tax Help, Former IRS Agents, IRS Tax Seizure Experts 1-866-700-1040
As former IRS agents we were in the business of seizing assets that belonged to taxpayers. As a result of our years of experience at the Internal Revenue Service we know how to completely remedy your situation and get your assets back in your hand.
If the IRS has seized any assets belonging to you the best professionals to handle your IRS matter and problem are former IRS agents and managers who know the system, the formats, and settlement procedures of the Internal Revenue Service.
We have over 60 years of direct working experience and knowledge of the Internal Revenue Service and we have been in positions as agents, managers, instructors, as well as IRS appeals agents.
We are completely familiar with all of the IRS systems and can easily resolve your IRS problem on IRS asset seizures and any other situation that you may be encountering.
Our firm has over 206 years of professional tax experience and we are A+ rated by the Better Business Bureau.
We are fast, professional and affordable.
You can call us for free tax consultation you will hear her the truth and find out how fast that you can remedy your situation.
IRS – Asset Seizures
IRS usually will seize the assets of taxpayers when the taxpayer fails to contact the Internal Revenue Service.
As a result, IRS sends out a system of bills and notices in an attempt to work out an agreement with the taxpayer, business, or corporation. If the IRS cannot contact the taxpayer it sends out a bill to the last known address. If the Internal Revenue Service does not hear back from the taxpayer after sending a notice to the last known address. the IRS is then forced to start to take enforcement action.
As a general rule enforcement actions of the IRS usually include the filing of an IRS bank levy, an IRS wage garnishment levy, an asset seizure such as a boat, car, home business and/or the filing of a federal tax lien. There are many type of other IRS seizures you should call us today to learn more on how you could remedy this situation.
General rules on getting your assets back from the Internal Revenue Service
The Internal Revenue Service has general rules that govern the releasing of asset seizures. . IRS will want a current financial statement along with all documentation that supports and verifies the statement that is given to Internal Revenue Service.
After IRS carefully reviews and verifies the financial statement IRS will determine which is the best course of action to remedy the situation to closes the case off the IRS enforcement computer.
As a general rule the IRS will either put taxpayers or corporations in economic hardship, enter them into an installment payment or entertain IRS settlement called and offer compromise.
With the IRS’s new fresh start program or fresh start initiative the taxpayers have many different options to go ahead and help settle their case to completely remedy the problem that they have.
At Fresh start Tax we contact the IRS with a power of attorney and begin the negotiation that very day of getting any assets seized by the IRS back in your hand.
Do not be worried or do not be stressed, call us today and we can start the process to get what is rightfully yours back in your hand.
If the Internal Revenue Service has seized anything other than a bank account or a wage garnishment levy you should contact us today giving us the details of the asset seizure so we can contact the IRS agent in charge of the seizure of assets and we can start the process and tax negotiation of getting seized assets back in your hand.
As a former IRS agent I have seized assets for over 10 years and I am completely aware of all the tax laws and procedures that govern the assets that have been seized. Please call us today and learn more
IRS – Management Review Process and Taxpayer Appeal Rights
Taxpayers whose business assets have been seized, and who request it, are entitled to an expedited case review by management.
The seized assets must be tangible personal property essential in carrying on the trade or business of the taxpayer. The purpose of the management review is to determine whether the levy meets the release requirements of IRC 6343 and, in particular, whether the levy has created an economic hardship by preventing the taxpayer from carrying on such trade or business.
The management review will consist of one level only and will be conducted at the territory level. In those cases where the levy action is sustained (levy is not released) by the appropriate compliance manager, the taxpayer will be advised about the Taxpayer Advocate Service (TAS) and/or the Collection Appeal Program (CAP).
Seizures involving perishable goods require immediate management attention.
Local management will provide for an accelerated review process based on the merits of each case.
You can file a Appeal by using the CAP process
Once a seizure action is taken, the taxpayer has ten business days from the date the Notice of Seizure is provided to the taxpayer, or left at his or her usual abode or place of business, to appeal the seizure action through the CAP process (IRM 5.10.1.5.3, Collection Appeal Rights).
The taxpayer will use Form 9423, Collection Appeals Request, to request a CAP hearing.
TAS cases may be initiated because of seizure actions. If the taxpayer claims a hardship as a result of a seizure or proposed seizure action, the revenue officer should determine if the seizure action should continue (see IRM 13.1.7, Taxpayer Advocate Service (TAS) Case Criteria, for other situations that qualify for TAS referral and the appropriate procedures to follow).
The use of IRS tax form 911, Taxpayers Advocate Service
If the revenue officer cannot or will not initiate action to resolve the taxpayer’s inquiry or to provide the relief requested by the taxpayer, the revenue officer must assist the taxpayer in preparing Form 911, Request for Taxpayer Advocate Service Assistance (And Application for Taxpayer Assistance Order).
Form 911 must state the hardship and/or problem, and it must document the resolution and/or relief requested. The revenue officer must document the reason why the requested action was not taken. Form 911 will be forwarded to the TAS within one workday of identifying that the contact potentially meets TAS criteria.
Further collection actions are generally suspended until the hardship is resolved by the TAS Office. See IRM 13.1.7, Taxpayer Advocate Service (TAS) Case Criteria, for TAS criteria and procedures.
Areas of Professional Tax Practice:
- Same Day IRS Tax Representation
- Offers in Compromise or IRS Tax Debt Settlements
- Immediate Release of IRS Bank Levies or IRS Wage Garnishments
- Tax Relief from a IRS Bill, Letter or Notice of “Intent to Levy”
- IRS Tax Audits
- IRS Hardships Cases or Unable to Pay
- Payment Plans, Installment Agreements, Structured agreements
- Abatement of Penalties and Interest
- State Sales Tax Cases
- Payroll / Trust Fund Penalty Cases / 6672
- Filing Late, Back, Unfiled Tax Returns
- Tax Return Reconstruction if Tax Records are lost or destroyed
- IRS Asset Seizure
Our Company Resume: ( Since 1982 )
- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- We taught Tax Law in the IRS Regional Training Center
- Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed and certified to practice in all 50 States
- Nationally Recognized Veteran /Published Former IRS Agent
- Nationally Recognized Published EZINE Tax Expert
- As heard on GRACE Net Radio.com – Monthly Radio Show-Business Weekly
IRS Asset Seizure – Tax Help, Former IRS Agents, Tax Experts
