by Fresh Start Tax | Jul 17, 2012 | Back Taxes, Tax Help, Tax Returns, Tax Settlements
We are a professional tax firm specializing in tax matters, solutions, tax planning and IRS representation for Expatriates, FBAR and US Citizens Citizens Living Abroad.
The scope of of practice is worldwide.
We are comprised of Board Certified Tax Attorneys, Tax Lawyers, CPA’s and Former IRS agents and managers.
We have over 206 years of professional tax experience and over 60 years of direct work experience at the IRS.
You can call us for a no cost professional consult and speak directly to a tax professional. 1-866-700-1040.
We can file all tax returns, prepare any past due or unfiled tax returns and if necessary work out a tax settlement if you cannot pay the IRS.
As Former IRS Instructors we taught Tax Law at the IRS.
Tax Tips:
Foreign Earned Income Exclusion
If your Tax Home is in a foreign country and you meet the bona fide residence test or the physical presence test, you can choose to exclude from your income a limited amount of your foreign earned income.
Should you choose to exclude from your income a foreign housing amount. If you choose to exclude a foreign housing amount, you must figure the foreign housing exclusion before you figure the foreign earned income exclusion.
Your foreign earned income exclusion is limited to your foreign earned income minus your foreign housing exclusion.
If you choose to exclude foreign earned income, you cannot deduct, exclude, or claim a credit for any item that can be allocated to or charged against the excluded amounts.
This includes any expenses, losses, and other normally deductible items allocable to the excluded income.
Limits on Excludable Amount per IRS Code.
You may be able to exclude up to $92,900 of your foreign earned income in 2011.
You cannot exclude more than the smaller of:
$92,900, or
Your foreign earned income (discussed earlier) for the tax year minus your foreign housing exclusion (discussed later).
If both you and your spouse work abroad and each of you meets either the bona fide residence test or the physical presence test, you can each choose the foreign earned income exclusion.
You do not both need to meet the same test. Together, you and your spouse can exclude as much as $185,800.
Paid in year following work.
You are considered to have earned income in the year in which you do the work for which you receive the income, even if you work in one year but are not paid until the following year.
If you report your income on a cash basis, you report the income on your return for the year you receive it. If you work one year, but are not paid for that work until the next year, the amount you can exclude in the year you are paid is the amount you could have excluded in the year you did the work if you had been paid in that year.
There are exceptions to some of these rules and for further details as to how they apply, call us for a no cost tax consult. 1-866-700-1040.
US Citizens Living Abroad, Tax Help, Filing Back Taxes, Past Due Taxes, Settlements, IRS Tax Experts
by Fresh Start Tax | Jul 16, 2012 | Back Taxes, Expatriate Tax, IRS Penalties, IRS Tax Problem, Tax Lawyer, Tax Returns
We are International Tax Experts for Expatriates Tax Services, Consultations and IRS Tax Relief.
We can take all the worry and fear out of your IRS tax situation. We are former IRS Agents and Managers and have over 60 years of direct IRS work experience. We have a total of 206 years of total tax experience.
Call us for a free tax consult,1-866-700-1040.
We can file all current tax returns, file all back tax years and settle any back taxes you may owe.
Filing Dates for Tax Returns.
March 15th Form 1120 and 1120S.
Due date for US Corporations and Sub-Chapter S corporation unless extended with Form 7004
March 15th Due Date.
Form 3520A for foreign trusts
April 15th Due Date.
For any payment of any taxes due for previous calendar year (though if you are living abroad on 4/15 your tax return gets an automatic extension until 6/15)
April 15th Form 1040 ES.
First payment for current years first installment of quarterly income and self employment taxes to avoid penalties.
June 15th Form 1040 ES.
Second payment on current years second installment of quarterly income and self employment taxes to avoid penalties.
June 15th Due Date
Expatriate tax return (for expatriate living abroad on 4/15) or time to file for an extension on Tax Form 4868.
June 30th Form.
TDF 90-22.1 US Treasury Form Report of Foreign Bank Accounts Due Date.
July 30th Due date.
Self administered Pension Plan and 401K Tax Return From 5500 or 5500EZ
September 15th Form 1040 ES.
Third pay current years third installment of quarterly income and self employment taxes to avoid penalties.
September 15th Extended Due Date.
For U.S. Corporation Returns 1120 and 1120S
October 15th Final Expat Form 1040 Due date .
You may not get another tax extension.
January 15th Form 1040 ES Fourth installment of quarterly income and self employment taxes to avoid penalties.
Please Note the following If any of days list above fall on a weekend or national holiday, the due date is automatically moved to the first week day following the weekend or holiday.
The IRS recently announced that the due date for 2010 individual federal income tax returns will be Monday, April 18, 2011. Each year dates differ, please check with us for yearly changes.
Expatriate Tax Help – All Countries – England, Australia, Japan, UAE – Filing, Back Taxes, Penalties – Expat Experts
by Fresh Start Tax | Jul 14, 2012 | Back Taxes, Expatriate Tax, Representation, Tax Lawyer, Tax Returns
Before hiring anyone make sure you speak to us somewhere in the process. You can speak directly to Former IRS Agents and Managers who know the complete IRS process and who have worked directly for the IRS for over 60 years.
We are tax experts in Expatriate Tax Returns.
We taught Tax Law at the IRS and know all the tax policies and techniques to get you the best possible results. Expatriate are certainly a tax specialty.
We are accessible and affordable. We will make sure you pay the lowest amount allowed by LAW.
We can file all your income tax returns, back taxes and if you owe money to the IRS we can work out a payment plan and file for abatement of penalties should you qualify.
We have prepared thousands of tax returns since 1982 and we are “A” rated with the BBB.
On staff, Tax Attorneys, CPA’s and Former Agents as previously mentioned. Call us for a no cost consult. 1-866-700-1040. Skype available.
Income Tax Preparation.
Exclusion amounts for tax purposes.
1. The maximum foreign earned income exclusion.
Adjusted annually for inflation. For 2011, the maximum exclusion has increased to $92,900.
2.Housing expenses – Base Amounts
The computation of the base housing amount (line 32 of Form 2555) is tied to the maximum foreign earned income exclusion.
The amount is 16 percent of the exclusion amount (computed on a daily basis), multiplied by the number of days in your qualifying period that fall within your 2011 tax year. For 2011, this amount is $40.72 per day ($14,864 per year).
3. Housing expenses – maximum amounts
The amount of qualified housing expenses eligible for the housing exclusion and housing deduction has changed for some locations.
4. Filing requirements.
The amount of income you can receive before you must file an income tax return has increased. Check with us to make sure.
5. Self-employment tax reduced.
For 2011, the rate of self-employment tax has been reduced from 15.3% to 13.3%.
The maximum amount of net earnings from self-employment that is subject to the social security part of the self-employment tax remains at $106,800.
All net earnings are subject to the Medicare part of the tax.
6. IRA deduction expanded.
You may be able to take an IRA deduction if you were covered by a retirement plan and your 2011 modified adjusted gross income (AGI) is less than $66,000 ($110,000 if married filing jointly or a qualifying widow(er)).
If your spouse was covered by a retirement plan, but you were not, you may be able to take an IRA deduction if your 2011 modified AGI is less than $179,000.
Form 8938. If you had foreign financial assets in 2011, you may have to file new Form 8938 with your return.
7. Change of address. If you change your home mailing address, notify the Internal Revenue Service using Form 8822, Change of Address. If you are changing your business address, use Form 8822-B, Change of Address—Business.
If you are a Expatriate, Expat, and need to file tax returns or many years back taxes call us for a no cost consult. 1-866-700-1040.
Expatriate Tax Returns, Filing Back Taxes – Former IRS, Attorneys, IRS Expat Experts – Free Tax Consultation – Income Tax Prep
by Fresh Start Tax | Jul 14, 2012 | Back Taxes, State of Florida, Tax Lawyer, Tax Returns
Florida Sales Tax Problem – File Back Tax Returns & Settlements – Help from Tax Attorneys, Former Agents – Free Consultation
Let tax attorneys, CPAs, and former government agents resolve your Florida State tax problems. Call us today and we offer free tax consultations regarding the filing of your back tax returns and settlements.
If you are having issues or tax problems with the State of Florida and need professional tax representation call us for no cost professional tax consult.
We can immediately get the State off your back. You will never have to speak to a State Tax Agent.
We are comprised of Board Certified Tax Attorneys, Tax Lawyers, CPA’s and Former IRS Agents & Managers.
We have over 206 years of total tax experience and over 60 years of direct government work experience.
Call today for a no cost consultation. 1-866-700-1040.
Filing Back Tax Returns with the State of Florida.
The State of Florida is updating their State computer system to crack down on State of Florida businesses which have not filed their back tax returns.
The State of Florida is implementing matching programs to check on all businesses that ever filed for a State exempt number. The State feels that this Program will generate million upon millions of dollars of Revenue. Do not get catch in the cross-hairs.
Tax Tip
What you should do if you need to file back tax returns.
File as soon as you can! Do not let fear stop you. This must be done. However you need a plan. Many taxpayers waiting to file can avoid criminal penalties if they file before the State knocks on their door.
It is best for you to begin getting current as soon as possible to show that you want to be tax compliant with the tax laws.
The State is usually are willing to work with businesses and owners who want to rehabilitate and become current.
With that in place we can work out a tax settlement with the State of Florida.
Below find the tax provisions for State of Florida tax settlements.
Authority to Settle Back Taxes
Specific Authority 213.06(1), 213.21(5) FS. Law Implemented 213.21(3) FS.
STATE OF FLORIDA
DEPARTMENT OF REVENUE
CHAPTER 12-13, FLORIDA ADMINISTRATIVE CODE
COMPROMISE AND SETTLEMENT
CREATING RULE 12-13.0076
12-13.0076 Calculation of Penalty Subject to Compromise for Reasonable Cause.
(1) Scope and Definitions.
(a) Section 213.21, F.S., authorizes the Department to compromise a taxpayer’s liability
for penalty when the taxpayer’s noncompliance is due to reasonable cause and not willful
negligence, willful neglect, or fraud. The Department will use this rule to calculate the amount
of penalty that the Department will compromise on the grounds of reasonable cause pursuant to
Section 213.21, F.S. The Department will apply the provisions of this rule regardless of whether
the taxpayer requests a compromise of penalty.
(b) The provisions of this rule do not apply to an issue when:
1. the Department determines that the taxpayer’s noncompliance is due to willful
negligence, willful neglect, or fraud;
2. a statute prohibits the Department from exercising discretion to assess or compromise
the penalty.
Call us today and we can show you how to make this process simple. 1-866-700-1040.
Florida Sales Tax Problem , File Back Tax Returns & Settlements, Help from Tax Attorneys, Former Agents, Free Consultations
by Fresh Start Tax | Jul 14, 2012 | IRS Tax Problem, Tax Help, Tax Lawyer, Tax Returns
If you are looking for IRS Tax Help because you have an IRS Tax Problem call us today for a no cost professional tax consult. 1-866-700-1040.
We are tax experts for U.S. citizens and Resident Aliens living abroad.
We are comprised of Tax Attorneys, Tax Lawyers, CPAs and Former IRS Agents.
We have 205 years of total tax experience and over 60 years of working directly for the IRS.
We taught Tax Law at the IRS
Relative information for US Citizens and Resident Aliens living Abroad.
U.S. Citizens and Resident Aliens Abroad
If you are a U.S. citizen or resident alien, the rules for filing income, estate, and gift tax returns and paying estimated tax are generally the same whether you are in the United States or abroad.
Just so you know your worldwide income is subject to U.S. income tax, regardless of where you reside.
When to File your Tax Return. ( tax extensions)
If you are a U.S. citizen or resident alien residing overseas, or are in the military on duty outside the U.S., on the regular due date of your return, you are allowed an automatic 2-month extension to file your return and pay any amount due without requesting an extension.
For a calendar year return, the automatic 2-month extension is to June 15.
If you are unable to file your return by the automatic 2-month extension date, you can request an additional extension to October 15 by filing Form 4868 before the automatic 2-month extension date.
Please note – Any tax due IRS payments made after June 15 will be subject to both interest charges and failure to pay penalties.
Where to File your tax return.
If you are a U.S. citizen or resident alien ,Green Card Holder, and you live in a foreign country, mail your U.S. tax return to:
Department of the Treasury
Internal Revenue Service Center
Austin, TX 73301-0215
USA
Estimated tax payments should be mailed with form 1040-ES to:
Internal Revenue Service
P.O. Box 1300
Charlotte, NC 28201-1300
USA
Other helpful notes and tax tips:
1. Taxpayers with an AGI (Adjusted Gross Income) of $57,000 or less can electronically file their tax return for free using free file.
2. Taxpayers with an AGI greater than $57,000 can either use the Free File Fillable Forms or e file by purchasing commercial software.
Taxpayer Identification Number
Each taxpayer who files, or is claimed as a dependent on, a U.S. tax return will need a social security number or individual taxpayer identification number .
To obtain a social security number.
To obtain a social security number, use form SS-5, Application for a Social Security Card. To get form SS-5, or to find out if you are eligible for a social security card, contact a Social Security Office or visit Social Security International Operations.
If you, or your spouse, are not eligible for a social security number, you can obtain an ITIN by filing form W-7 along with appropriate documentation.
U.S. Citizens and Resident Aliens Abroad – IRS Tax Problem Help – Attorneys, Former IRS – Overseas Tax Experts
by Fresh Start Tax | Jul 11, 2012 | Back Taxes, Expatriate Tax, Offer in Compromise, Representation, Tax Lawyer, Tax Returns, Tax Settlements
If you are a Expatriate and need help in filing tax returns, filing back taxes or undergoing a IRS Tax Audit, call us for a no cost professional tax consultation. 1-866-700-1040.
We can take the fear and worry out of the IRS tax issue. As Former IRS Agents we know exactly hoe to minimize your IRS exposure.
We are comprised of Board Certificated Tax Attorney, Tax Lawyers, CPA’s and Former IRS agents and Manager.
We have worked for the IRS for over 60 years in both the field office, district and regional offices of the IRS including teaching Tax Law to all the new IRS agents.
We are aware of all the tax techniques, settlement provisions and tax policies that govern all areas of IRS audits, collection, appeals and expatriate cases.
Filing Current Tax Returns
There are many tax treaties in place with foreign countries and special tax laws in place that deal with income exclusions, tax credits and special rulings.Depending on the country where you reside we will analyze all the tax and revenue procedures so you pay the lowest amount allowed by law.
Back Taxes.
With the IRS modernizing their CADE computer system the IRS will be able to root out non filers by tracing their social security numbers that are now part of the matching program with foreign governments. With the IRS finding a wealth of tax dollars, some $4.4 billion overseas, IRS plan to ramp up full enforcement.
Tax Audits.
IRS has received $500 million dollars from the Federal Government to enforce the tax laws and tax compliance of all taxpayers. One of the targets IRS has announced it will work hard is the area of Expatriates. Special IRS Audit Groups are being formed within the IRS to target Expatriate Tax Audits.
Tax Settlements, Offers in Compromise.
Should you owe tax the good news it that the IRS has announced through the Fresh Start Program that IRS tax settlements are now much easier to settle.
Call us for full details on your individual case.
Expatriate Filing Tax Returns, Back Taxes & Tax Audits – Expat IRS Tax Experts – Attorneys, Former IRS – Expats Tax Problem Help
