by steve | Oct 19, 2011 | IRS Tax Advice, Tax Help, Uncategorized
IRS Withholding Calculator from your Friends at Fresh Start Tax LLC IRS Tax Experts
We are IRS Tax Specialists for IRS Tax Relief and Tax Problems! 1-866-700-1040
If you are an employee, the Withholding Calculator can help you determine whether you need to give your employer a new Form W-4, Employee’s Withholding Allowance Certificate to avoid having too much or too little Federal income tax withheld from your pay.
You can use your results from the calculator to help fill out the form.
Who Can Benefit From The Withholding Calculator?
Employees who would like to change their withholding to reduce their tax refund or their balance due;
Employees whose situations are only approximated by the worksheets on the paper W-4 (e.g., anyone with concurrent jobs, or couples in which both are employed; those entitled to file as Head of Household; and those with several children eligible for the Child Tax Credit);
Employees with non-wage income in excess of their adjustments and deductions, who would prefer to have tax on that income withheld from their paychecks rather than make periodic separate payments through the estimated tax procedures.
PLEASE USE CAUTION: If you will be subject to alternative minimum tax, self-employment tax, or other taxes; or if any of your current jobs will end before the end of the year, you will probably achieve more accurate withholding by following the instructions in Publication 919, How Do I Adjust My Tax Withholding?
Tips For Using This Program available at IRS.GOV
1.Have your most recent pay stubs handy.
2.Have your most recent income tax return handy.
3.Estimate values if necessary, remembering that the results can only be as accurate as the input you provide.
4.To Change Your Withholding:
Use your results from this calculator to help you complete a new Form W-4, Employee’s Withholding Allowance Certificate.
Submit the completed Form to your employer.
Click here www.irs.gov/individuals/article/0,,id=96196,00.html
by steve | Oct 19, 2011 | IRS Tax Advice, Tax Help
How many times we are asked this question. The answer is different depending on your tax situation.
Call us if you have any questions. 1-866-700-1040.
By the way, we can audit proof your tax return. Have Fresh Start Tax LLC prepare your next Federal and State Tax Returns.
As a General Rule:
You must decide whether to itemize deductions or to use the standard deduction.
The standard deduction is a dollar amount that reduces the amount of income on which you are taxed.
You should itemize deductions if your allowable itemized deductions are greater than your standard deduction. Some taxpayers must itemize deductions because they cannot use the standard deduction.
You cannot use the standard deduction if:
1. You are married and filing a separate return, and your spouse itemizes deductions
2. You are a nonresident alien or a dual-status alien during the year, or
3. You are filing a tax return for a period of less than 12 months because of a change in your annual accounting method
In addition an estate or trust, common trust fund, or partnership cannot use the standard deduction.
For additional information, refer to Publication 501, Exemptions, Standard Deduction, and Filing Information.
You may benefit from itemizing your deductions on Schedule A if you:
1.Cannot use the standard deduction
2.Had large uninsured medical and dental expenses
3.Paid interest or taxes on your home
4.Had large unreimbursed employee business expenses
5.Had large uninsured casualty or theft losses, or
5.Made large charitable contributions
All of these larger deductions should be able to be easily proved because tax returns with real high deductions are more likely to be pulled for a tax audit.
You may be subject to limitations on some of your itemized deductions. Please refer to the Form 1040 Instructions or Form 1040, Schedule A Instructions for the limitation amounts.Note: For 2010, taxpayers with adjusted gross income above a certain amount will no longer lose part of their itemized deductions.
Call us today to have Former IRS Agents and Managers prepare your tax returns.
by steve | Oct 19, 2011 | Tax Help, Uncategorized
Fresh Start Tax LLC Since 1982 Affordable IRS Tax Experts in Filing Back Tax Returns and Tax Settlements “A” Rated by the BBB
We are IRS Tax Experts in Filing Back Taxes and IRS Tax Settlements.
We can prepare your tax returns with little or no tax records.
We have reconstructed thousands of tax returns as Former IRS Agents. We can get you back in the system worry free and get you a tax settlement you can live with to get your life back in order.
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- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
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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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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.
by steve | Oct 19, 2011 | IRS Tax Problem, Tax Help
Fresh Start Tax LLC Since 1982 IRS Tax Experts in Complete Tax Resolution Former IRS Agents, Managers and Instructors “A” Rated by the BBB
Call us today to see how you can settle your case.
Get immediate and permanent Tax relief from true IRS tax experts.
If you have a IRS Problem and need IRS Tax Help, it only make sense to hire a firm that has former IRS Agents & Managers who actually taught and know the IRS system. We taught IRS Tax Settlement at the IRS.
Beware of companies claiming to be IRS tax experts with no direct IRS tax experience.
We have over 205 years of professional tax experience and over 60 years of direct work experience at the IRS in the local, district and regional offices of the IRS.
Call us today for no charge, 1-866-700-1040 to go over all your tax options to get you immediate relief.
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 90.3 FM Monthly Radio Show-Business Weekly
See our Home Page for more details Thank you
by steve | Oct 19, 2011 | IRS Tax Advice, Tax Help
Fresh Start Tax LLC IRS Tax Experts Former IRS Agents & Managers Since 1982
Question: How do you know if you have to file quarterly individual estimated tax payments? ( also called ES payments )
Answer: You must make estimated tax payments for the current tax year if both of the following apply:
1. You expect to owe at least $1,000 in tax for the current tax year, after subtracting your withholding and credits.
2. You expect your withholding and credits to be less than the smaller of:
3. 90% of the tax to be shown on your current year’s tax return, or
4. 100% of the tax shown on your prior year’s tax return. (Your prior year tax return must cover all 12 months.)
There are special rules for:
1.Certain small business taxpayers for any tax year beginning in 2009
2. Certain taxpayers with higher adjusted gross income
3.Farmers and commercial fishermen
4.Aliens
5.Estates and Trusts
Contact us directly for more details.
by steve | Oct 18, 2011 | Tax Help
You can prepare your own “Substitute Tax Forms” with the IRS
Here is how:
The IRS provides guidance for the approval and acceptance of computer–prepared and computer-generated tax forms that are filed by individual taxpayers and tax practitioners.
If you want to produce your own version of a tax form, you should first obtain a copy of IRS Publication 1167 (PDF), General Rules and Specifications for Substitute Forms and Schedules.
This type of document describes the general requirements for designing and submitting all such forms for approval and is updated annually to coincide with the current tax year. This publication cross-references other similar, related publications that are available for certain specialized substitute forms that differ from normal form size, that require multi-part paper stock, or that have other similarly unique features (such as Forms W-2, and 1099 or other types of tax forms).
Publication 1167 also provides actual examples and layouts of some of the most used IRS forms
