Hire former IRS Agents and Managers who know the the IRS system. There is no one better to represent you or settle your IRS tax problem case than individuals who know the IRS like the back of there hand.
We have worked thousands of cases successfully. We know all the different ways to settle tax cases. Over 110 years of tax experience in our Fresh Start Office. Fresh Start Tax can get rid of your IRS Problem starting today. 1-866-700-1040
IRS has different ways of settling tax problems. Fresh Start Tax is giving you ways to get rid of your IRS Tax Problem. What Fresh Start Tax can do for you:
* immediately send a power of attorney to IRS so you will never have to speak to IRS
* make sure you are taken off the IRS enforcement action computer system immediately
* adjust the tax liability to make sure you are paying the lowest amount possible
* file any tax returns that need to be filed
* settle the tax liability for the lower possible amount
* offer several solutions to the tax problem
* make sure IRS never contacts you again
Top ways of Settling your tax problem:
1. Hire a professional company who know every way the IRS Code allows for settlements.
2. Let the Statute of Limitations Expire – The IRS has 10 years to collect taxes from the initial date of assessment. Once the 10 year period is up, the IRS can no longer collect these taxes from you. Keep in mind that the IRS will try to extend this the statute of limitations, so be aware of any papers they want you to sign. Also be aware that certain actions extend the statue of limitations, such as bankruptcy or the filing of an offer. If you have not paid the amount owed in 9 years, it is unlikely they will be able to collect from you in the last year. Certain factors influence when cases are sent back to the field. You should read our blogs to find out those factors. 3. Set up an installment or part pay agreement – An installment agreement is a payment plan with the IRS. This plan will allow you to pay off the IRS tax amounts owed over time. It usually is a 5 year period of time. It is important to make timely payments once the installment agreement is in place or the IRS can reissue the tax levy or levies. There are different installment payments. Call us for more details.
4. Set up a partial payment agreement – This is similar to the installment agreement, but if you can show you can legitimately not make the payments required for an installment agreement, the IRS will allow for smaller payments that may equal less than the original amount of tax owed. These are usually hardship type cases. IRS will not monitor these agreements. 5. File an Offer in Compromise – Be very careful before sending in an Offer in Compromise . If you meet the strict requirements for this type of relief, the IRS will release the lien once satified. This is one of the hardest types of relief to receive from the IRS because does a full investigation. 6. Prove you have no equity in assets – If the assets the IRS is trying to levy have no equity in them, you must prove to the them that there would be no point for them to levy those assets. IRS will gain nothing from levying them and it will not pay anything towards your back taxes owed. 7. Prove you have a Financial Hardship – If you can prove to the IRS that the levy creates economic hardship. some examples of a hardship could be that you are being evicted or have a medical problem that take most of your wages or assets. If you qualify for as a hardship it is likely the IRS will release or remove the federal tax levy. 8. Post a Surety Bond – If you post a surety bond, the levy will no longer be in effect. If a levy is in place, and you cannot pay your taxes, it is highly unlikely you will qualify for a bond. If you do qualify for a bond, you may be better off paying the tax amount owed in full. Also your federal tax lien gets released as well. 9. Appeal the Notice – You can appeal an IRS levy and you will have a review if the Internal Revenue Service did not follow correct procedures. 10. File a bankruptcy – Bankruptcy settlement can release a tax levy or discharge the tax debt by court order and return seized assets to you. This should be considered as a last resort. Your taxes must be 3 years or older, assessed for 240 days, and the returns must be filed for a two year period of time.
Contact Fresh Start Tax today 1-866-700-1040
Get IRS Wage Levy Released Immediately 1-866-700-1040
Get your Federal Tax Levies released immediately.
Let Former IRS Agents and Managers get your Wage Levy Released
You must first have all your tax returns filed and process a 433F, a IRS financial statement and have Fresh Start Tax 1-866-700-1040 contact IRS and get your tax levy released the very same day.
Taxpayer EductionWhat is a levy: A levy is a legal seizure of your property to satisfy a tax debt. Levies are different from liens. A lien is a claim used as security for the tax debt, while a levy actually takes the property to satisfy the tax debt.
If you do not pay your taxes (or make arrangements to settle your debt), the IRS will seize and sell any type of real or personal property that you own or have an interest in. An example:
IRS will levy your wages at your employer, this is a continuous levy, it will not stop until the case is resolved. This is a 668W
IRS will levy or seize your bank account. This is a 668A. This is a one time levy.
IRS could seize and sell property that you hold (such as your car, boat, or house),
IRS could levy property that is yours but is held by someone else (such as your wages, retirement accounts, dividends, bank accounts, licenses, rental income, accounts receivables, the cash loan value of your life insurance, or commissions).
IRS can only levy 668A, 668W, only after these three requirements are met:
IRS assessed the tax and sent you a Notice and Demand for Payment;
You neglected or refused to pay the tax
Notice of Your Right to Hearing after the levy.
You may ask an IRS manager to review your case, or you may request a Collection Due Process hearing with the Office of Appeals by filing a request for a Collection Due Process hearing with the IRS office listed on your notice. You must file your request within 30 days of the date on your notice.
What Fresh Start Tax can do for you:
have a former IRS Agent immediately start to resolve your tax problem who is aware of all tax strategies to resolve your case
immediately send a power of attorney to IRS so you will never have to speak to IRS
make sure you are taken off the IRS enforcement action computer system immediately
adjust the tax liability to make sure you are paying the lowest amount possible
file any tax returns that need to be filed
settle the tax liability for the lower possible amount
make sure IRS never takes your tax refund
have the company with the highest BBB rating take charge and resolve your case, now!
Get IRS Wage Levy Released Immediately – Former IRS Agents – 668 W
Are you unable to pay the IRS? Let former IRS Agents, Managers and Instructors help resolve your case today. Call us at 1-866-700-1040.
In order to help us resolve your IRS tax problem, please call us with the information on the letter you have from the IRS. Let us know if the notice the IRS has sent to you is the same as the tax records that you have in your tax file.
If the information is not the same we must first fix the problem of making sure the tax bill information is correct.
The IRS recognizes that sometimes taxpayers are unable to pay. Taxpayers who are unable to pay what they owe should contact Fresh Start Tax, 1-866-700-1040 as soon as possible. There are a number of payment solutions the IRS may be able to offer to the taxpayer including:
Fresh Start Tax can get you an extension of Time to Pay — Taxpayers may be eligible for a short extension of time to pay of up to 120 days. Taxpayers should request an extension if they would be able to pay their taxes in full within the extended time frame.
We can get you 120 days just by us calling the IRS.
Installment Agreement Options — The IRS permits about 3 million taxpayers to pay their tax bills in monthly payments. Installment agreements paid by direct deposit from a bank account or payroll deduction from wages will help avoid agreement default by ensuring timely payments and will reduce the burden of mailing payments and save postage costs.
Most agreement are sent by taxpayer checks sent every month to the IRS. These are usually sent on the First, the 15th or the 28.
Fresh Start Tax could get you put in a hardship status and we can delay collection
— If the IRS determines that a taxpayer is unable to pay, it may delay collection until the taxpayer’s financial condition improves. This is called Hardship status or currently not collect-able. Offer in Compromise — Some taxpayers are able to settle their tax bill for less than the amount they owe by submitting an Offer in Compromise (OIC). However, the criteria for accepting an offer are strict and relatively few offers are accepted each year. Fresh Start Tax has a great rate of acceptance.
At any time before or during collection action, a taxpayer who believes a pending collection action will create a significant hardship may apply for relief by submitting Form 911, Application for Taxpayer Assistance Order .
The Office of the Taxpayer Advocate will review the application, and if appropriate, take steps to resolve the taxpayer’s problem with the IRS to relieve the hardship.
Fresh Start Tax is one of the premier tax resolutions firms in the country. We deal with all types of civil cases including individuals, businesses, corporate and defunct corporations. We have staff that specializes in every facet of the Internal Revenue Service. We know all the IRS strategies. Some of our many specialties include the following:
Immediate Tax Representation
Offers in Compromise/Settlements
Back Tax Relief
Bank Garnishments or Tax Levies
Wages Garnishments or Levies
IRS Notices of Intent to Levy or Final Notices
IRS Tax Audits
Hardships Cases, Payment Plans
Innocent Spouse
Abatement of Penalties and Interest
State Sales Tax Cases
Trust Fund Penalty Cases/ 6672
Our Company Resume:
Our staff has over 110 years of professional tax representation experience
On staff, Board Certified Tax Attorney’s, Certified Public Accounts, Enrolled Agents, Former IRS Manager, Instructor and Trainers
Highest Rating by the Better Business Bureau ” A “
If you need a professional tax company to prepare your 990 tax return for your non-profit, call Fresh Start Tax 1-866-700-1040.
We are former IRS Agents, Managers and Instructors. We worked in the South Florida IRS Offices. We have been in private practice for the past 28 years. We have the highest BBB rating. We are tax experts.
Education: Failure to File Annual Return or Electronic Notice
What happens if I fail to file an annual return or annual electronic notice?
For tax years beginning after December 31, 2006, if an organization is required to file an information return or annual electronic notice and fails to do so for three consecutive years, the organization will lose its tax-exempt status as of the filing due date of the third year. For the organization to have its tax-exempt status reinstated, it must apply (or reapply) for tax-exempt status and pay the appropriate user fee. Fresh Start Tax is one of the premier tax resolution firms in the country. We deal with all types of cases, individuals, business and high dollar corporate entities. We have a staff that specializes in every type of case. Some of our specialties include the following:
Immediate Tax Resolution and Representation
Offers in Compromise and Settlement
Back Taxes/ Unfiled or Never filed tax returns
Bank or Wage Levy Garnishments
Letters of Intent of Notice to Levy
IRS Tax Audits
Hardship, part pay agreements
State Sales Tax problems and Resolution
Our company resume:
Our staff has over 140 years of professional tax representation experience
On staff are Board Certified Tax Attorney’s, CPA’S, former IRS Agents, Managers and Instructors.
Former STATE Department of Revenue Manager and Instructor.
We are extremely moral and ethical in ALL our business dealings
We have the highest rating by the Better business Bureau
A faxed signature is acceptable.
A taxpayer is not considered to have filed a tax return which begins the period of limitations on assessment (ASED) until the taxpayer files a valid tax return. An unsigned return is not considered a valid tax return. A faxed signature is acceptable.
Fresh Start Tax is comprised of Former IRS Agents, Managers and Instructors. The staff also includes CPA’s, tax attorneys and former Managers with the Department of Revenue. Our company are experts in the field of tax and tax resolution. We are licensed to practice in all 50 States. We are fast, affordable and put a premium on communication with our client. Our firm has the highest rating given out by the Better Business Bureau. We have a combined 140 years Federal and State experience.
Topic 431 – Canceled Debt – Is it Taxable or Not?
In general, if a debt for which you are personally liable is canceled or forgiven, other than as a gift or bequest, you may have to include the canceled amount in gross income. Depending on the circumstances by which your debt was canceled and the nature of any property associated with the debt, the canceled debt may qualify for an exception to inclusion in gross income, or the canceled debt may result in gross income but the income may be excluded.
A debt includes any indebtedness for which you are liable or which attaches to property you hold. If property is associated with a debt, a cancellation of all or part of the debt may occur as a result of foreclosure proceedings on the property, repossession of the property, your return of the property to the lender, your abandonment of the property, or a principal residence loan modification. Regardless of the factors relating to the cancellation, you must report any taxable amount as ordinary income from the cancellation of debt on Form 1040 or Form 1040NR and associated sub-schedules as advised in IRS Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonment’s.
If a federal government agency or an applicable financial entity cancels or forgives a debt you owe of $600 or more, you should receive a Form 1099-C (PDF), Cancellation of Debt, showing amounts and other information relating to the cancellation. The amount of canceled debt is shown in Box 2 of the form.
Canceled Debts that meet the requirements for any of the following exceptions or exclusions will not be taxable.
Canceled Debt that Qualifies for Exception to Inclusion in Gross Income:
1. Amounts specifically excluded from income by law such as gifts or bequests
2. Cancellation of certain qualified student loans
3. Canceled debt that if paid by a cash basis taxpayer is otherwise deductible
4. A qualified purchase price reduction given by a seller
Canceled Debt that Qualifies for Exclusion from Gross Income:
1. Cancellation of qualified principal residence indebtedness
2. Debt canceled in a Title 11 bankruptcy case
3. Debt canceled due to insolvency
4. Cancellation of qualified farm indebtedness
5. Cancellation of qualified real property business indebtedness
The exclusion for “qualified principal residence indebtedness,” enacted by the 2007 Mortgage Relief Act, now provides additional canceled debt tax relief for many American home owners involved in the mortgage foreclosure crisis currently affecting much of the country. The Act allows taxpayers to exclude up to $2,000,000 of “qualified principal residence indebtedness.”
Generally, if you exclude canceled debt from income under one of the exclusions listed above, you must also reduce your tax attributes (certain credits, losses, and basis of assets) by the amount excluded. You must file Form 982 (PDF), Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment), to report the exclusion and the corresponding reduction of certain tax attributes.
Refer to Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonment’s, for more detailed information regarding; taxability of canceled debt, how to report it, and related exceptions and exclusions. Additional information can also be found in Publication 525, Taxable and Nontaxable Income.
Caution: If you have property that is security for a debt and that property is taken by the lender in full or partial satisfaction of your debt, you will be treated as having sold that property and may have gain or loss as a result. The gain or loss on such a deemed sale of your property is a separate issue from whether any canceled debt also associated with that same property can be included in gross income. See IRS Publication 544, Sales and Other Dispositions of Assets, for detailed information on reporting gain or loss from repossession, foreclosure or abandonment of property.
