by Fresh Start Tax | Jun 18, 2012 | Back Taxes, Income Tax Preparation, Installment Agreements, IRS Tax Problem, Offer in Compromise, Representation, Tax Help, Tax Lawyer, Tax Returns
If you are a Ex Pat and you need to file your late, back, past due or unfiled tax returns call us today for a free tax consult and get rid of the worry you are dealing with.
We handle all contact with the IRS and you will never speak to them. We fully prepare all back income tax returns and work out a tax settlement if necessary.
Being comprised of Board Certified Tax Attorneys, CPA’s and Former IRS agents we have over 205 years of professional tax experience and over 60 years of working directly for the IRS in the local, district and regional offices of the IRS.
We can not only file all of your back returns we can settle all back tax debt should you owe money to the IRS.
What to do if you have not filed an Income Tax Return:
Among the various new requirements contained in IRC 877 and 877A, individuals that renounced their US citizenship or terminated their long-term resident status for tax purposes after June 3, 2004 are required to certify to the IRS that they have satisfied all federal tax requirements for the 5 years prior to expatriation.
If all federal tax requirements have not been satisfied for the 5 years prior to expatriation, even if the individual does not meet the monetary thresholds in IRC 877 or 877A, the individual will be subject to the IRC 877 and 877A expatriation tax provisions.
Individuals that have expatriated should file all tax returns that are due, regardless of whether or not full payment can be made with the return. Depending on an individual’s circumstances, a taxpayer filing late may qualify for a payment plan.
All payment plans require continued compliance with all filing and payment responsibilities after the plan is approved.
We handle and settle all FBAR cases with true experienced tax professional.
Call today and speak directly to a Tax Attorney. 1-866-700-1040
by Fresh Start Tax | Jun 5, 2012 | Offer in Compromise, Tax Lawyer, Tax Returns, Tax Settlements, Uncategorized
I am a former IRS agent and teaching instructor of the offer in compromise. Call us today for a free initial tax consultation and hear the truth about the offer in compromise program. I worked out a South Florida IRS offices for over 10 years.
IRS has just instituted as brand new program called the ” Fresh Start Program or the Fresh Start Initiative to help struggling taxpayers settle their IRS tax debt once and for all.
At Fresh Start Tax LLC we are comprised of Board Certified Tax Attorneys, CPA’s and Former IRS agents and managers who know the offer in compromise/tax debt settlement program inside and out.
We have worked hundreds of offers in compromise and actually taught the Offer in Compromise/tax debt settlement program when we worked at the IRS in the local South Florida Office.
We also have on staff former IRS Agent audit managers and former IRS Appeals agents to review all cases before they are sent to the IRS.
We have over 60 years of IRS work experience out of the South Florida IRS office.
The new program will change the way taxpayers settle their back tax cases. In the past, IRS made it very difficult for the taxpayer to settle their offers in compromise because of tough rigid standards. IRS over reviewed the cases and had a policy to reject first on any possible avenue it could.
The normal IRS agent reviewing cases did everything they could to reject offer in compromise/tax debt settlements because it required to much work to accept.
Now that the new program has been instituted the and policy has changed we believe the agents will follow the directives from management to settle offers in compromise.
No Offer in Compromise should be turned in for the sake of ” lets give it a try.
Offer in Compromise require a lot of skill and work.
At Fresh Start Tac LLC we will review all potential offers in compromise/tax debt settlements for no cost to see if you qualify. If you do we will move forward.
If you have very little in the way and assets and you have very little disposable income you will be a perfect candidate for an offer in compromise.
Fresh Start Tax also can file all back or unfiled taxes and release bank and wage levies.
Call us today for a free tax consult. We are affordable and friendly.
Miami, Ft.Lauderdale, Palm Beaches – Offer in Compromise – Offer Specialists, Former IRS – New Fresh Start Program
by Fresh Start Tax | Jun 4, 2012 | IRS Tax Debt, IRS Tax Problem, Offer in Compromise, Representation, Tax Help, Tax Lawyer, Tax Returns, Tax Settlements, Uncategorized
Settling your IRS tax debt has just been made much easier through the new Fresh Start Program just launched by the Internal Revenue Service.
On May 21, 2012 the Internal Revenue Service announced another expansion of its “Fresh Start” initiative by offering much more flexible terms to its Offer in Compromise (OIC) program that will enable some of the most financially troubled taxpayers/businesses to clear up their IRS tax problems/issues and in many cases more quickly than in the past. This is one of the biggest changes ever by the IRS in regard to IRS tax debt.
The new announcement specifically targets on the financial analysis used to determine which taxpayers qualify for an Offer in Compromise or a tax debt settlement.
This announcement also enables some taxpayers to resolve their tax problems in as little as two years compared to four or five years or in some cases 10 years in the past.
In certain circumstances, the changes announced today include:
1. Revising the calculation for the taxpayer’s future income
.2 Allowing taxpayers to repay their student loans.
3. Allowing taxpayers to pay state and local delinquent taxes.
4. Expanding the Allowable Living Expense allowance category and amount.
An OIC ( Offer in Compromise ) is an agreement between a taxpayer and the IRS that settles the taxpayer’s IRS tax debt liabilities for less than the full amount owed. In many cases “pennies on a dollar’. The usually settlement is about $.014.
An OIC is generally not accepted if the IRS believes the liability can be paid in full as a lump sum or a through payment agreement. The IRS looks at the taxpayer’s two major assets:
1. all income including social security, disability income,
2. liquid assets including 401k and all pensions
to make a determination of the taxpayer’s reasonable collection potential.
Offers in Compromise are subject to acceptance on legal requirements and must be approved by 3 layers of IRS management.
The IRS finally recognizes that many taxpayers are still struggling to pay their debts and are underwater on there mortgages so the IRS has been working to put in place “common-sense changes” to the OIC program. This change is long over due.
When the IRS calculates a taxpayer’s reasonable collection potential, the Internal Revenue Service will now look at only one year of future income for offers paid in five or fewer months, down from four years, and two years of future income for offers paid in six to 24 months, down from five years. This is a huge change and will allow the taxpayers to reduce their IRS tax debt as far down as 75%.
Settling your IRS tax debt has really been made much easier starting today.
All offers in compromise must be fully paid within 24 months of the date the offer in compromise is accepted.
The new IRS Form 656-B, Offer in Compromise Booklet, and new IRS Form 656, Offer in Compromise, has been revised to reflect the changes.
Other changes to the program include narrowed parameters and clarification of when a dissipated asset will be included in the calculation of reasonable collection potential. In addition, equity in income producing assets generally will not be included in the calculation of reasonable collection potential for on-going businesses.
It is always best to make sure your offer in compromise or your tax debt settlement qualifies for a tax settlement in the first place.
Call the tax professionals at Fresh Start Tax LLC. We are comprised of Board Certified Tax Attorneys, CPA’s and Former IRS Agents and Managers.
We can also file all past due, late, or back tax returns. We are your firm for immediate and permanent tax relief on back taxes.
by Fresh Start Tax | Jun 4, 2012 | Back Taxes, Income Tax Preparation, IRS Tax Debt, IRS Tax Problem, Tax Returns, Tax Settlements
Unfiled, Back Tax, Past Due Tax Returns – How to file and settle with the IRS – Former IRS Agents can save you money 1-866-700-1040
There are millions of taxpayers with unfiled, past due, and back tax returns. The figures of unfiled, past due or back tax returns are close to 20 million non filers and maybe more.
What is unusual about this number is the fact that many of these taxpayers actually want to get back in the system but are afraid to and do not know how to do that without the ire of the IRS and the fear associated with that.
Our firm, Fresh Start Tax LLC specializes in this process and want to explain the process. It is much easier than you think.
IRS is not always the beast they are made out to be.
The filing of the unfiled, back or past due tax returns.
The first part of the process is getting your tax records together. The majority of those taxpayers in this position of unfiled, past due, late, or back tax returns do not have their information to prepare their tax returns. They have been lost, they have moved and they are poor record keepers.
IRS keeps on file the last seven years worth of income information. A simple request can be made to the Internal Revenue Service to receive income information. That is a starting point and from there most taxpayers can simply reconstruct their expenses.
Most professional preparers can easily aid and assist the clients/taxpayers once they have received the income source information. Building the expenses part is relatively simple.After preparing thousands of tax returns a solid tax professional should have no problem in tax reconstruction.
A Key Point.
Being a former IRS agent it is very important to remember when you are preparing these unfiled, back or past due tax returns that the returns must make sense.
A good standard or bar that I used as a former agent was the fact that 4 things had to match up and make sense;
1. Tax Return
2. A financial statement
3. Bank Statements
4. Cost of living for the area the taxpayer was living.
In a nut shell, the taxpayers living expenses should be reflected in the bank deposits on a financial statement and the total income explain on the Adjust Gross Income on a tax return.
The Settlement with the IRS.
The IRS has a new program they are currently administering called the Fresh Start Initiative or Program.
To settle your tax debt case with the IRS, the Service will look at two primary factors. Income and assets.
IRS will conduct a thorough investigation after a form 433 OIC is filed with the IRS.
I do not recommend anyone file a offer in compromise without professional help. I have worked offers in compromise for over 38 years . It is an art and a professional talent to get an offer accepted.
However for those do it your selfers out there, IRS will want the value of roughly 90% of your assets and and excess income over the national standard. IRS uses a multiplier of either 12 or 24 depending in the settlement structure.
Call us today and learn more about IRS tax debt settlements.
We are compromised of Board Certified Tax Attorneys, CPA’s and Former IRS Agents.
Call us at 1-866-700-1040
Unfiled, Back Tax, Past Due Tax Returns – How to file and settle with the IRS – Former IRS Agents can save you money
by admin | Mar 27, 2012 | IRS Tax Advice, Representation, Tax Returns, Uncategorized
After being an IRS Agent for over 10 years and in private practice for over 29 years I have found a consistency in tax preparation errors.
If you need quality income tax preparation call us today.
The same errors happen over and over. The following are tax tips that may help you file your tax return trouble free.
Common tax errors to avoid:
1. Social Security – Incorrect or missing Social Security numbers.
When you enter social security numbers for anyone listed on your tax return, be sure to enter them exactly as they appear on the Social Security cards. IRS will kick out an error letter or notice to you if they do not match.
2. Incorrect or misspelling of dependent’s last name.
When entering a dependent’s last name on your tax return, make sure to enter it exactly as it appears on their Social Security card. Once again, IRS computers are exact matches.
3. Filing status errors.
The most common mistakes. Choose the correct filing status for your situation. About 40% of all errors occur with these mistakes.
There are five filing statuses:
1. Single,
2. Married Filing Jointly,
3. Married Filing Separately,
4. Head of Household
5. Qualifying Widow(er) With Dependent Child.
4. Math errors are very common. When preparing paper returns, review all math for accuracy. If you file electronically the software does the math for you!
5. Computation errors. Electronic filing basically eliminates this.
Take your time. Have someone review the tax return. Many taxpayers make mistakes when figuring their taxable income, withholding and estimated tax payments, Earned Income Tax Credit, Standard Deduction for age 65 or over or blind, the taxable amount of Social Security benefits and the Child and Dependent Care Credit.
6. Incorrect bank account numbers for direct deposit. Bad Mistake!!!
Double check your bank routing and account numbers if you are using direct deposit for your refund.
7. Sign and date the return.
An unsigned tax return is like an unsigned check. Also, both spouses must sign a joint return. Both spouses should not only sign but fully review the tax return.
8. Incorrect adjusted gross income.
If you file electronically, you must sign the return electronically using a Personal Identification Number. To verify your identity, the software will prompt you to enter your Adjusted Gross Income from your originally filed 2010 federal income tax return or last year’s PIN if you e-filed. Taxpayers should not use an Adjusted Gross Income amount from an amended return, Form 1040X, or a math-error correction made by IRS.
by steve | Nov 1, 2011 | IRS Tax Debt, Tax Returns
Fresh Start Tax LLC Since 1982 “A” Rated by the BBB A Tax Specialty Firm Settling IRS Cases for Less
If you need immediate tax relief from any IRS tax situation call us today and begin the process to get the very best results possible.
On staff, Former IRS Agents and Managers that taught the Debt Settlement Program at the IRS called the Offer in Compromise.
We are one of the oldest, most trusted and experienced professional tax firms.
We can file back tax returns and settle your case for the lowest dollar allowed by law.
Call us for a no cost consult, 1-866-700-1040. Affordable Solutions.
Fresh Start Tax L.L.C. is one of the premier tax resolution firms in the country. We deal with all types of civil cases including individuals, businesses, non-profits, partnerships and corporations. We have staff that specialize in every facet of IRS Tax Representation.
We know all the IRS tax strategies because of our extensive IRS working backgrounds. We were Former IRS Certified Tax Instructors that taught IRS Tax Law in the IRS Regional Training Center. Some of our many specialties include the following:
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
