by Fresh Start Tax | Nov 27, 2012 | Back Taxes, Tax Returns
File Back Tax Returns – How the IRS will find you, Former IRS – Fresh Start Tax LLC 1-866-700-1040.
For the record you can file back tax returns without fear.
Call us today and we can explain this worry free process. We have filed thousands of back returns without cause. Do not be afraid to come forward. You can settle your tax bill all at the same time.
As Former IRS Agents, Managers and Instructors we know the process . Stop the worry today. We have over 60 years with the IRS.
Sooner or later the IRS will find out you have not filed tax returns. Everyone at some point will have to come out of the closet and come clean.
Being a Former IRS Agent and teaching instructor I can tell you the IRS has been very active to bring each and every taxpayer into full tax compliance.
The IRS through Obamacare has done three things that will make sure this takes place.
They are planning to :
1. Hire over 15,000 IRS agents,
2. Have public stated that tax compliance is a major issue,
3. Are developing software systems to find non filers.
IRS will find most non-filers through their CADE 2 computer system and cross referencing searches with different government agencies.
How IRS identifies non-fliers
The IRS has existing data and programs that can assist in identifying such persons and businesses, such as:
1. Matching programs through 1099s and w-2’s,
2. Whistle blower program,
3. Report of Foreign Bank and Financial Accounts (FBAR),
4. Currency transaction reports,
5. Estate tax returns,
6. K-1 reporting,
7. State sales tax and unemployment tax filings,
8. Credit card information,
9. Professional license renewals,
10. Loan applications such as DMV and through credit card applications.
Filing Back Tax Returns – The process of filing back or unfiled tax returns:
If you have unfiled, back or past due tax returns, this is the process Fresh Start Tax LLC uses to get current with the IRS and get you immediate and permanent tax relief so you do not have to worry.
1. Fresh Start Tax LLC will verbally review a year by year history of your income and expenses,
2. We review any records you may have and find deductions that will lower your tax bill,
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 6 years,
4. If you have lost all your records we have easy and simple forms that can help you reconstruct your tax return,( we have reconstructed thousands of returns )
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 permanently resolve your IRS matter once and for all.
File Back Tax Returns – How the IRS will find you, Former IRS – Fresh Start Tax LLC
by Fresh Start Tax | Nov 23, 2012 | Tax Relief, Tax Returns
B Notice IRS – IRS B Notice – Fresh Start Tax LLC, Former IRS – IRS Representation
Fresh Start Tax LLC is a full service tax firm. We are staff with Tax Attorneys, Tax Lawyers, CPA’s and Former IRS Agents and Managers.
We can help you on any IRS or State Tax Matters. 1-866-700-1040.
B Notice IRS – IRS B Notice
Government entities are subject to rules that require income tax withholding of 28% from certain payments if the payee is not exempt from backup withholding and fails to furnish correct taxpayer identification number (TIN).
The IRS does and may also notify a payer to begin backup withholding because of payee under reporting. The IRS computer system is set up systemically to handle this matters through self generating notices.
Failure to follow the backup withholding rules can result in penalties to the payer for filing incorrect information returns. IRS has the right to make the payer liable for any uncollected amounts. Both parties can be at risk.
Payments Subject to Backup Withholding
Rents,non-employee compensation for services, royalties, reportable gross proceeds paid to attorneys, and other fixed or determinable gains, profits, or income payments that are reportable on Form 1099-MISC, Miscellaneous Income.
Backup withholding does not apply to wages or pension payments.
Requirement for Payer To Secure a TIN
For all payees, you must make an initial solicitation for a TIN when the payee opens an account or when the transaction occurs.
You should use Form W-9, Request for Taxpayer Identification Number, to request the taxpayer identification number.
To beginning backup withholding on a payee, if the payee continues to fail to provide you with a TIN, you should generally make an annual solicitation of the payee for a TIN.
Missing Taxpayer Identification Number
A taxpayer identification number is considered “missing” whenever
1. the TIN is not provided,
2. the TIN has more or less than nine digits or
3. the TIN includes an alpha character in one or more of its nine positions.
The IRS Notice CP2100 or CP2100A Notice
CP2100 and CP2100A notices are notices that inform a payer that he or she may be responsible for backup withholding.
This may be due to missing or potentially incorrect taxpayer identification numbers identified during the processing of Form 1099 information returns.
It is accompanied by a listing of missing, incorrect, and/or not currently issued payee TIN. Large volume filers (250 or more erroneous documents) receive the CP2100 notice, while all other filers receive the CP2100A notice.
A Incorrect Taxpayer Identification Number
A taxpayer identification number is considered “incorrect” whenever the TIN is displayed in the proper format but:
1. the Name/TIN combination does not match, or
2. the TIN cannot be found in the files of the IRS and/or the Social Security Administration.
The famous “B” Notice
If the IRS sends you a CP2100 or CP2100A Notice indicating an incorrect payee TIN, you are required to send the “B” Notice within 15 days from the date you received it, or the date of the CP2100/2100A, whichever is later.
More can be found on IRS Publication 1281 for details.
You should begin backup withholding no later than 30 business days after the date of the CP2100 notice or the date you received it, whichever is later.
Stop backup withholding no later than 30 days after the payee furnishes a TIN and certifies that it is correct.
Call Fresh Start Tax LLC for all your tax needs and problems. 1-866-700-1040.
A plus rated by the BBB.
B Notice IRS – IRS B Notice – Fresh Start Tax L.L.C.- Former IRS – IRS Representation
by Fresh Start Tax | Nov 20, 2012 | Back Taxes, IRS Representation, Tax Returns
Have not filed Back Tax Returns – Former IRS Agents can take the worry away – IRS Notice CP 5919 Call for immediate resolution 1-866-700-1040.
We can file your back taxes and settle your case.
We taught IRS Tax Law and know all the procedures to settle and close your case.
How the IRS works non-filers.
IRS Enforcement of Non-Filers.
IRS has different ways to identify non filers. IRS can find out through spouses, businesses, other State or Government Agencies and through W-2, 1099 matches.
The only obligation that the IRS has is to attempt to contact the taxpayer at the last known address.
So once non-filer taxpayers have been identified, “soft notices” such as the CP 5919 or CP25920 are sent notifying the taxpayer that a return(s) has not been filed.
As to the individual taxpayer, the notice informs the non-filer that he will need to contact the IRS if he doesn’t believe a tax return is due, or to seek assistance with filing and payment of tax if one is due.
Once the soft notice letter is sent with no response received, a second letter or notice similar to (Letter 4903) is sent prior to an SFR being prepared and a tax assessed.
If the IRS does not hear from the taxpayer(s), and it already has information available, through Forms W-2, 1099, etc., it will create an SFR or Substitute For Return as the next step. Sometimes it may attempt to contact the taxpayer by telephone, or it may assign the case to the field.
The IRS uses the SFR ( substitute for return ) as a last alternative only after making attempts to contact the taxpayer by phone or in person since those approaches may be more effective.
When the SFR is sent to the taxpayer, it may prompt the taxpayer to file a correct return since an SFR does not allow for deductions, exemptions, credits, etc., and simply shows the income that the IRS has confirmed from third party input. IRS will do you no favors when they prepare the return. You will owe the highest tax.
Overinflated tax numbers are provided creating an SFR will be the impetus for the taxpayer to come to talk to the IRS.
If the SFR has been prepared and the taxpayer is still not in contact with the IRS, the IRS has other programs that can be used to assist in developing and maintaining taxpayer compliance to pay the tax assessed by the SFR, including the Withholding Compliance and the Refund Hold programs.
In combination, the SFR, Withholding Compliance and Refund Hold programs not only provide a way to pay the assessment, but further encourage the taxpayer to contact the IRS or to file a return in hopes of obtaining a refund based on actual deductions and credits that are not available through the SFR program.
Call us today to get immediate tax help. We can file your returns and work out a tax settlement. 1-866-700-1040.
Have NOT FILED Back Tax Returns – Former IRS Agents can take the worry away – IRS Notice CP 5919, CP 25920, Letter 4903
by Fresh Start Tax | Nov 15, 2012 | Income Tax Preparation, Tax Relief, Tax Returns
IRS Form, Letter, Notice 797 – Fresh Start Tax LLC, Former IRS
If you are looking for IRS Tax Help call Fresh Start Tax LLC today.
1-866-700-1040.
Have Former IRS agents audit proof your tax returns. A plus rated.
Call is and speak directly to Former IRS agents and managers who have over 60 years with the IRS in the local, district and regional offices of the IRS.
IRS Letter 797
Deals with the possible Federal Tax Refund Due to the Earned Income Credit
What Is the EIC? ( Earned Income Credit )
The EIC is a refundable tax credit for certain workers.
Who May Claim the EIC?
A taxpayers may be able to claim the EIC for 2012 if you worked and all four of the following conditions apply.
1. You and or your spouse, if filing a joint return and have a valid social security number (SSN) issued by the Social Security Administration.
2. Your 2012 earned income and adjusted gross income are both under $36,920 ($42,130 if married filing jointly) if you have one qualifying child; under $41,952 ($47,162 if married filing jointly) if you have two qualifying children; under $45,060 ($50,270 if married filing jointly) if you have three or more qualifying children; or under $13,980 ($19,190 if married filing jointly) if you do not have a qualifying child. For a definition of earned income, see the 2012 instructions for Form 1040, 1040A, or 1040EZ.
3. Your filing status on your 2012 tax return is any status except married filing a separate return.
4. You were not a qualifying child of another taxpayer in 2012.
If you do not have a qualifying child, you must also meet these conditions.
a. You, or your spouse if filing a joint return, were at least age 25 but under age 65 at the end of 2012. (You meet this condition if you, or your spouse if filing a joint return, were born after December 31, 1947, and before January 2, 1988.) If your spouse died in 2012,
b. You cannot be claimed as a dependent on someone else’s 2012 tax return.
c. Your home, and your spouse’s if filing a joint return, was in the United States for over half of 2012.
If you are in the military ( first thank you ) on extended active duty outside the United States, your home is considered to be in the United States during that duty period and you may be able to claim the EIC.
You cannot claim EIC if any of the following conditions apply.
1. Your 2012 investment income (such as interest and
dividends) is over $3,200. See Pub. 596 for more information.
2. You file either Form 2555 or Form 2555-EZ (relating to foreign earned income).
3. You were a nonresident alien for any part of 2012 unless you
were married to a U.S. citizen or resident and elected to be taxed as
a resident alien for the entire year.
Who Is a Qualifying Child?
Any child who meets all four of the following conditions is a qualifying child.
1. The child is your son, daughter, stepchild, foster child, brother, sister, half brother, half sister, stepbrother, stepsister, or a descendant of any of them (for example, your grandchild, niece, or nephew).
An adopted child is always treated as your own child. An adopted child includes a child lawfully placed with you for legal adoption.
A foster child is any child placed with you by an authorized placement agency or by judgment, decree, or other order of any court of competent jurisdiction.
2. At the end of 2012, the child was under age 19 and younger than you (or your spouse, if filing jointly); or under age 24, a student, and younger than you (or your spouse, if filing jointly); or any age and permanently and totally disabled.
3. The child lived with you in the United States for over half of 2012. If the child did not live with you for the required time, there are exceptions if the child was born or died during the year, the child is presumed to have been kidnapped by someone who is not a family member, or there was a temporary absence.
4. The child does not file a joint income tax return for 2012.
There are additional rules if a child is married or is the qualifying child of more than one person.
For more details see the 2012 instructions for Form 1040, 1040A, or 1040EZ.
How Do You Claim the EIC?
If you are eligible to claim the EIC on your 2012 income tax return.
If you have a qualifying child, you must also fill in Schedule EIC and attach it to your Form 1040 or Form 1040A.
If eligible, you can claim the EIC to get a refund even if you have no tax withheld from your pay or owe no tax.
An example: if you had no tax withheld in 2012 and owe no tax but are eligible for a credit of $800, you must file a 2012 income tax return to get the $800 refund.
More Information
Call us today. 1-866-700-1040
by Fresh Start Tax | Nov 11, 2012 | Back Taxes, Expatriate Tax, FBAR, IRS Representation, IRS Tax Debt, IRS Tax Problem, Tax Lawyer, Tax Returns, Tax Settlements
Australia- FBAR, EXPAT – Attorney, Lawyers, Former IRS – Filing, Penalties, Settlement – Affordable Tax Experts
Do not be bullied by the IRS. Find out the truth about FBAR disclosures to the IRS.
You have options. We can file and settle your case.
Call us today, we are comprised of Board Certified Tax Attorneys, Tax Lawyers, CPA’s and Former IRS Agents, Managers and Instructors. 1-866-700-1040.
We have over 206 years of total tax experience and over 60 years of direct IRS experience in resolving IRS tax issues and tax problems. We are a full service tax firm with all work being done in house by true tax experts.
We are true Tax Experts of FBAR and Expatriate Tax Issues.
There is a great deal on the web and in press releases that has scared many FBAR filers and Expats into taking position on the filing of FBAR that makes one believe that everything must go through Criminal Investigation.
The reality is that few taxpayers are tax criminals. What is so sad it that the IRS has scared everyone to death regarding FBAR.
The truth be told you have the option of making a Silent Disclosure.
Some taxpayers have already made quiet disclosures by filing amended returns.
Before a decision is made on each case, a tax attorney or tax lawyer will use a set of facts particular to that case. There are no two cases the same, each has a unique set of circumstances.
With that said Quiet Disclosure are not for everyone that is why a careful review must be made on each case.
Taxpayers with unreported foreign bank accounts present themselves and their professional advisers with a bunch of very important important decisions they need to make.
These tax and filing decisions must be made based on a very careful review of all material, information, an understanding of the potential tax penalties and interest involved, and the exposure to any other financial crimes, criminal implications or tax penalties.
Regardless of how tempting under no circumstances should Attorneys or Lawyers and taxpayers ignore reporting tax and FBAR tax requirements simply because the IRS has not yet raised the issue in the client’s specific case.
Our rule of thumb, find IRS before they find you.
How the process works.
The IRS does review amended returns and could select any amended return for examination.
If a tax return is selected for examination, the 20 percent offshore penalty would not be available.
Criminal Behavior
When criminal behavior is evident and the disclosure does not meet the requirements of a voluntary disclosure under IRM 9.5.11.9, the IRS may recommend criminal prosecution to the Department of Justice.
Taxpayers who have already made quiet disclosures but have not yet been selected for examination may take advantage of the penalty framework applicable to voluntary disclosure requests regarding unreported offshore accounts and entities, provided they otherwise meet the criteria for voluntary disclosure set forth in IRM 9.5.11.9.
Call us for more detail. 1-866-700-1040. Privileged conversation with a tax attorney or tax lawyers.
What possible forms are needed to be Filed with the IRS ?
Besides federal income tax returns, what forms or other returns must be filed?
The following forms must be filed:
a. Copies of original and amended federal income tax returns for tax periods covered by the voluntary disclosure,
b. Complete and accurate amended federal income tax returns (or original returns, if not previously filed) of the taxpayer for all tax years covered by the voluntary disclosure;
c. An explanation of previously unreported or under reported income or incorrectly claimed deductions or credits related to undisclosed foreign accounts or undisclosed foreign entities, including the reason(s) for the error or omission,
d. If the taxpayer is a decedent’s estate, or is an individual who participated in the failure to report the foreign account or foreign entity in a required gift or estate tax return, either as executor or advisor, complete and accurate amended estate or gift tax returns (original returns, if not previously filed) necessary to correct the under reporting of assets held in or transferred through undisclosed foreign accounts or foreign entities;
Complete and accurate amended information returns required to be filed by the taxpayer, including, but not limited to,
a. Tax Forms 3520,
b. 3520-A,
c. 5471,
d. 5472,
e. 926 and
f. 8865 (or originals, if not previously filed) for all tax years covered by the voluntary disclosure, for which the taxpayer requests relief; and
Complete and accurate Form TD F 90.22-1, Report of Foreign Bank and Financial Accounts, for foreign accounts maintained during calendar years covered by the voluntary disclosure.
Call us today for more details and find you the truth. you do not have to be worried. 1-866-700-1040
by Fresh Start Tax | Nov 1, 2012 | Expatriate Tax, FBAR, Tax Lawyer, Tax Returns
FBAR Attorneys, Lawyers – Filing, Penalties, Settlement – International Tax Attorney, Lawyer – FBAR, EXPAT Experts
If you are looking for true FBAR and Expatriate Experts contact our office today for a NO COST consult. 1-866-700-1040.
All calls are confidential.
We have over 206 years of total tax experience and over 60 years of working directly for the Internal Revenue Service in the local, district and regional offices.
We taught Tax Law at the IRS and are familiar with all the tax policies, tax procedures, settlement and closing policies.
The Federal Government has been very aggressive in working Offshore Taxpayers. With the downfall of UBS the Feds set there sites and bank and financial institutions world wide. Both the DOJ and the IRS are involved with these projects. It will only be a matter of time until all countries are submitting to US requests for account holders. No one ever thought Lichtenstein a tiny Alpine village would ever succumb to US pressure but it did and the countries will all start fall like domino’s.
If you are finding yourself in a awkward position regarding you taxes it is best to get a professional legal opinion on where you stand.
It is always best for you to find the IRS before they find you.
That is where we come in. We have a wealth of experience so you can move forward worry free. 1-866-700-1040.
The Foreign Account Tax Compliance Act.
FATCA enacted in 2010 as part of the Hiring Incentives to Restore Employment Act, is an important development in U.S. efforts to combat tax evasion by U.S. persons holding investments in offshore accounts.
Under FATCA, certain U.S. taxpayers holding financial assets outside the United States must report those assets to the IRS.
FATCA will require all foreign financial institutions to report directly to the IRS certain information about financial accounts held by U.S. taxpayers, or by foreign entities in which U.S. taxpayers hold a substantial ownership interest. There are prescribed dollar criteria.
Reporting by U.S. Taxpayers Holding Foreign Financial Assets
FATCA requires certain U.S. taxpayers holding foreign financial assets with an aggregate value exceeding $50,000 to report certain information about those assets on a new form (Form 8938) that must be attached to the taxpayer’s annual tax return.
Tax and financial reporting applies for assets held in taxable years beginning after March 18, 2010. For most taxpayers this will be the 2011 tax return they file during the 2012 tax filing season. Failure for taxpayers to report foreign financial assets on Form 8938 will result in a penalty of $10,000 and a penalty up to $50,000 for continued failure after IRS notification.
Underpayments of tax attributable to non-disclosed foreign financial assets will be subject to an additional substantial understatement penalty of 40 percent.
Reporting by Foreign Financial Institutions
FATCA will also require foreign financial institutions (“FFIs”) to report directly to the IRS certain information about financial accounts held by U.S. taxpayers, or by foreign entities in which U.S. taxpayers hold a substantial ownership interest.
For taxpayers to properly comply with these new reporting requirements, an FFI will have to enter into a special agreement with the IRS by June 30, 2013. Under this agreement a “participating” FFI will be obligated to:
1. undertake certain identification and due diligence procedures with respect to its account holders;
2. report annually to the IRS on its account holders who are U.S. persons or foreign entities with substantial U.S. ownership; and
3. withhold and pay over to the IRS 30-percent of any payments of U.S. source income, as well as gross proceeds from the sale of securities that generate U.S. source income, made to:
a.non-participating FFIs,
b.individual account holders failing to provide sufficient information to determine whether or not they are a U.S. person, or
c.foreign entity account holders failing to provide sufficient information about the identity of its substantial U.S. owners.
Notice 2011-53 provides the phased-in timeline of key FATCA implementation dates for FFIs.
It is important to note that many details of the new reporting and withholding requirements pertaining to FFIs must be developed through Treasury regulations. Proposed regulations were issued on Feb. 8, 2012.
Contact us today for find out more. 1-866-700-1040.
