by steve | Sep 10, 2009 | Tax Help, Uncategorized
As a former agent, there are a couple of acid tests to see if the client or the taxpayer is lying.
Here are just three that I would use today.
First, the IRS pulls up an Accurint report.
It is an online search engine that anyone can use that gives them 10 years worth of information on anybody. In the age of technology, assets are so easy to find.
The IRS will find any information they have to. They are a giant.
The second thing I would do is to make sure financial statements, bank statements and 1040’s all have a common cord through them, this is to say, they make sense when put together.
Does the income on the 1040 match up with the bank statements and the current financial statements?
Lastly, I would check credit cards to see if the purchases match up with everything else.
Here is a bonus way to tell you maybe lying.
IRS will check your credit history and find out if you have given a financial statement to anybody within the last three years, that is any creditor or anyone you are up tempting to borrow money from.
The IRS will compare that financial statement with the financial statement you’ve given other lendors.
Have any questions. call former IRS agents and managers to learn more about the system in the process. Always tell the truth!
There are many techniques used, there are just a few.
by steve | Sep 10, 2009 | Tax Help, Uncategorized
Within 24 hours, if you know what you are doing.
The basic rules of levy release are as follows.
Have all tax returns filed and complete a financial statement ( 433f) with all documentation and send to a IRS agent at the ASC Unit.
The only reason IRS sends out the a tax levy or wage garnishment levy is because taxpayers do not respond to IRS final notices.
IRS needs a closing method for your case.
The current financial statement will determine the closing method on your case.
As a general rule, your case will either be put into a non-collectible file for a couple of years or IRS will ask you for a monthly payment or you could possibly be an offer in compromise candidate.
As former IRS agents we are best suited to help you with all IRS tax matters call us today for a free initial tax consultation.
How Soon Can a IRS Tax Levy Notice or IRS Wage Garnishment be Released, / Removed, Former IRS Agents Tax Help,
by steve | Sep 10, 2009 | Tax Help, Uncategorized
There is only one way to get IRS penalties and interest removed to lower your tax bill.
You must know the system to get IRS tax penalties abated or removed from the IRS.
As former IRS agents we know the system. you can go to our home page and look at abatements of penalties and interest for full detail on how to get IRS penalties removed.
If you have more than $25,000 worth of penalties and interest is best to hire a tax professional if you have under $25,000 in your penalties and interest please note the following:
5.1.15.1 (09-03-2008) From the Internal Revenue Service.
People have asked, where is the requirement found to abate penalties and interest?
It is found in the IRM. Here is the authority and law to do this.
Tax Abatements – Law and Regulations
1. According to the law and regulations, the Service has the authority to abate tax.
2. Law – Internal Revenue Code (IRC) 6404(a) provides (in part):
The Secretary is authorized to abate the unpaid portion of the assessment of any tax or any liability in respect thereof, which–is excessive in amount, or is assessed after the expiration of the period of limitation properly applicable thereto, or is erroneously or illegally assessed.
3. Regulations – Treasury Regulation 301.6404?1 provides (in part):
The district [area] director or the director of the regional service center [servicing campus] may abate any assessment, or unpaid portion thereof, if the assessment is in excess of the correct tax liability, if the assessment is made subsequent to the expiration of the period of limitations applicable thereto, or if the assessment has been erroneously or illegally made.
No claim for abatement may be filed with respect to income, estate, or gift tax.
Except in case of income, estate, or gift tax, if more than the correct amount of tax, interest, additional amount, addition to the tax, or assessable penalty is assessed but not paid to the district [area] director, the person against whom the assessment is made may file a claim for abatement of such overassessment. Each claim for abatement under this section shall be made on Form 843.
The Commissioner may issue uniform instructions to district [area] directors authorizing them, to the extent permitted in such instructions, to abate amounts the collection of which is not warranted because of the administration and collection costs.
Do not let an IRS agent tell you they cannot abate the penalties on cases. They will tell you this because they are lazy and do not want to file the paperwork. Show them you know of this authority.
We are very successful on abating penalties and interest when reasonable cause does exist.
by steve | Sep 10, 2009 | Tax Help, Uncategorized
If you Owe Back Payroll Taxes, IRS is coming after you. Former IRS Can Help.
Any time you owe back trust fund tax is always wise to hire a former IRS agent or someone with extensive tax experience to go ahead and manage the trust fund that with the Internal Revenue Service.
The Internal Revenue Service takes unpaid trust fund taxes a lot more serious the most taxes simply because it is taxes withheld. IRS takes a much closer look on repair cases so beware if you have been pyramiding tax liability.
The reason I am drawing interest to this type of case is because these cases can be used by the criminal division to put you in jail.
Pay your 941 taxes. If not hire a tax professional to help negotiate these tax matters.
The other reason I am drawing this to your attention is that there is a tendency when your company is failing, to start up a new corporation. If the IRS gets wind of these companies moving from company to company and building up IRS payroll taxes, expect the IRS to amp up enforcement.
The IRS procedures on Unpaid Trust fund Taxes
1. When a taxpayer is identified as a repeater and pyramiding trust fund taxes, the IRS attempts initial contact within 30 days from receipt of the case.
See IRM 5.1.10 General Handbook, Taxpayer Contacts. Normally, the IRS arranges to meet the taxpayer and his/her representative at the place of business.
If such arrangements are not made, the reason why must be documented in the case history. Such a visit will be more productive and provide an opportunity to view and assess the business operation and it’s assets in the event a risk analysis determination needs to be completed.
The field visitation will also facilitate review of any books and payroll records. In the event the RO is not able to meet the TP at the business location on initial contact, IRM 5.1.10.3(1) requires that a field call be made to the business location to view the assets when practical, but prior to closure of the case.
Prepare to conduct a 4180 interview at the time of the initial contact. Consider calculating the potential TFRP based on the current assessment.
Use the ATFR system to make a rough calculation of the penalty and be prepared to discuss the process and the potential amount of the penalty during initial contact. See IRM 5.7.3 (TFRP) for additional information.
Get the taxpayer current with FTD’s from the date of first contact. Document the case history as to what type of depositor the business is (monthly, semi-weekly) and how the deposits are made (FTD coupons, EFTPS, etc.). The Revenue Officer will monitor compliance with FTD’s.
Also, verification that the FTD’s being made are accurate based on the amount of the current payroll will be monitored. See IRM 5.1.10, Taxpayer Contacts for more specific requirements regarding what information must be obtained during initial contact.
Pyramiding must be stopped immediately.
Advise the taxpayer that enforcement action will be taken if acceptable proof of compliance is not provided as required while the delinquent tax problem is being resolved. In the event the taxpayer continues to pyramid, all appropriate remedies will be used to bring the taxpayer into compliance and to immediately stop the pyramiding. If routine case actions have not been an effective way to stop the pyramiding, consider alternative solutions. Consider seizure and sale and/or pursuit of TFRP.
Secure sufficient financial information during the initial contact so that enforcement action can be taken, when appropriate.
If it is determined during contact with the taxpayer that the business is actually “Out of Business” or the business is no longer required to file returns, the RO will immediately complete Form 2363, Masterfile ENTITY Change, or Form 4844, Request for Terminal Action, to close out the filing requirements on IDRS. Continue procedures to pursue the TFRP investigation. See IRM 5.7.4.
Make a determination of the taxpayer’s ability to pay current and delinquent taxes without delay.
Set specific deadlines when requesting information from the taxpayer. The use of Form 9297, Summary of Taxpayer Contact, will be used in face-to-face meetings where deadlines are set. use of the Form 9297 will ensure the taxpayer has a clear understanding of what has been requested and the specific deadline date the information is required to be submitted. The requirement to make FTDs and the date required to provide verification of FTD can also be listed on the Form 9297.
Installment agreements are not appropriate for taxpayers who continue to accrue tax liabilities after contact because they are not in compliance. See lRM 5.14.7 and 5.7.4.8.1, BMF Installment Agreements, for the procedures to follow when considering an installment agreement for BMF taxpayers who begin making FTDs after contact and are no longer considered a repeater.
Oftentimes, cases involving repeater and pyramiding taxpayers will require enforcement action. On initial contact, when a deadline is set for a specific action, the L-1058, Notice of Intent to Levy and Notice of Your Right to a Hearing will be issued with all required enclosures. Receipt of L-1058, during initial contact, may prompt the repeater taxpayer to comply. (See IRM 5.11.1.2.2.2)
If contact is made, explain to the taxpayer the L-1058 is being issued to ensure their compliance with filing and paying requirements and failure to comply will result in enforcement action. The Revenue Officer must provide the taxpayer with their CDP rights and clearly explain the CDP process. The right to submit a Collection Due Process appeal will expire 30 days after issuance of the letter. The taxpayer will still have the opportunity for an “equivalent” hearing (See IRM 5.1.9.3.5) and/or to appeal a specific planned or actual collection action under the Collection Appeals Program (CAP) (See IRM 5.1.9.4).
If attempts to contact the taxpayer are unsuccessful, consider issuing L-1058 and immediate enforcement action as the next course of action.
Make a lien determination within required time frames. Defer notice of lien filing only if the taxpayer is actively seeking financing to resolve the liability or if there is doubt about the correctness of the current balance due.
If levy sources are exhausted and the repeater or pyramiding taxpayer has no assets which can be seized to resolve or offset the liability, consider issuing Letter 903 (DO), see IRM 5.7.2 Monthly Filing and Special Deposit Procedures.
These procedures should be used in the most egregious cases of non-compliance and where the collection procedures have already been unproductive.
Issuance of the Letter 903 (DO) will assist in promoting compliance.
Once the Letter 903 (DO) is issued, subsequent delinquencies by the taxpayer will be accelerated to the field for prompt enforcement action.
Inactivity gaps on these cases should be defined as ” more than 30 days” with no contact or case movement toward resolution.
During a taxpayer contact, when the taxpayer asks to be referred to the Taxpayer Advocate Service (TAS) or the taxpayer meets TAS criteria and the taxpayer’s issue cannot be resolved within 24 hours, then prepare and forward Form 911, Application for Taxpayer
This information is directly form the IRM.
The IRM is a true source of the “how to” for the IRS. It is their manual on how every case must be worked.
by steve | Sep 10, 2009 | Tax Help, Uncategorized
If you are in receipt of an IRS bank tax levy we can generally get your levy released within 24 hours of receiving a verified financial statement.
Please keep in mind all tax RETURNS will have to be filed and up-to-date.
I’m a former IRS agent teaching instructor.
We know the system.
A bank has a certain amount of time that it must hold a Federal Tax Levy.
Herein the the requirement of record:
A bank must wait 21 calendar days after a levy is served before sending payment.
Then, on the next business day, it must turn over the taxpayer’s money.
The depositor(s) can waive this waiting period. The bank will not send money that is subject to attachment or execution under judicial process.
“Bank” includes credit unions, savings and loan associations, trust companies, and others described in IRC 408(n) and Treas. Reg. §301.6332?3(b).
During the holding period, a levy might be released, or the amount owed could decrease.
Note: If the bank receives no release, it must send the payment after the holding period. No additional notice is required.
Consider the holding period when deciding how long to project the accruals on a bank levy.
Need your IRS bank levy released within 24 hours, call us today.
IRS Bank Tax Levy Holding Period = How Long Does a Bank Hold a Levy?
by steve | Sep 10, 2009 | Tax Help, Uncategorized
The IRS has a certain period of time in which they have to collect monies from taxpayers that have not paid their bill in full.
We are a full service tax firm that specializes in IRS tax relief.
The IRS has generally 10 years from the date of the assessment, which is usually 6 weeks after filing your return, to collect the money in full.
At the end of the 10 years the debt is written off by the Federal Government. After that, the taxpayer wants to make sure the Federal Tax Lien no longer effects their credit.
A release of Federal Tax Lien can be requested by the taxpayer and the IRS must release the lien.
What can extend the 10 year statue of limitation???
1.
Bankruptcy
2. Judgment/Litigation
3. Offer In Compromise
4. Signing of a waiver.
Certain things extend the statute of limitations.
If you are not sure it’s best to pull an IRS tax transcript to find out what your 10 year extended date may be.
If you have questions you can email us or call us today regarding the release of your federal tax lien.
How Long Can The IRS Continue to Collect My Back Tax Debt, Release of a IRS Tax Lien = What You Need to Know, Former IRS Help
