by Fresh Start Tax | Jun 7, 2012 | Tax Help, Uncategorized
Thru Nadine Smith our talented and gifted Enrolled Agent, we are supporters of Ronald McDonald House Charities of South Florida and we want you to help spread the word about the First Annual Pedal 4 Kids Charity Bike Ride, taking place on Sunday, September 30, 2012.
Pedal 4 Kids is an enthusiast level charity bicycle ride to benefit the children and families who stay at the Ronald McDonald Houses in Miami and Ft. Lauderdale. By helping us spread the word and reach there fundraising goal, you will be helping ill children and their families in need!
The Ronald McDonald House provides a Home-Away-From-Home, offering comfort and care to families with seriously ill children receiving treatment at local hospitals and medical facilities. Their Houses offer families a comfortable, safe haven on the hospital campus. It is a place where they can be close to their children a place where they can sleep, prepare meals, do laundry, and receive the understanding and caring support of others facing similar circumstances.
Please help make a difference in a childs life by visiting www.pedal4kids.kintera.org today, where you can register for Pedal 4 Kids, make a monetary donation or sponsor the event. We will greatly appreciate any support you can provide every little bit helps!
With deep appreciation, Fresh Start Tax LLC
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 1, 2012 | Back Taxes, Installment Agreements, IRS Payment Plans, IRS Tax Debt, IRS Tax Problem, Offer in Compromise, Tax Lawyer, Tax Levy and Wage Garnishments, Tax Settlements, Uncategorized
IRS, Tax Levy and Unfiled Tax Returns – How to get IRS off your back 1-866-700-1040
Have Former IRS Agents get your tax levy released and file all your back tax returns. We are tax experts. We are fast and affordable.
One of the largest concerns for taxpayers who have just received one of 3.8 million tax levies the IRS sends out a year is ” How do I get IRS off my back and my tax levy released?”
A good estimate is that there about 20 million taxpayers out there with unfiled tax returns and at some point the IRS just catches up. Tax levies are coming!
The IRS enforcement computer called CADE catches up to all taxpayers.
How to deal with the IRS and get them of your back.
IRS does not want to levy. They do not want to send out bank levies and wage levies or tax garnishments. We have a voluntary system of compliance. When taxpayers do not respond to IRS letters, notices and the filing of their tax returns, IRS has no choice but to let the computer system follow up with enforced compliance.
With that said, you can get the IRS off your back quite easily.
The easiest way of course is to hire a tax professional who knows there way around and through the system and can easily resolve the situation. A tax professional will handle the case in this fashion.
In regarding to past due, late, unfiled, back or delinquent tax returns.
The Internal Revenue Service will not usually release bank or wage garnishment levies until all tax returns are filed.
The levy serves as an enforcement tool to make sure IRS gets what IRS wants. IRS will hold their position on this issue and want all tax returns in their hands until it will release the bank or wage levy garnishments.
Waste no time, get tax returns prepared and filed immediately. The longer you wait the longer the bank or wage levy will usually stay in place.
We make sure the tax returns are sent to the agent handling the case so the tax returns do not get caught up in the system. IRS can lose track of the returns easily.
After all tax returns are sent to the IRS, the Service will want to review your current financial statement. The financial statement the 433A, 433F is the crucial element to the way your case will be closed by the IRS to end your tax problem. Tax relief will be coming soon, be patient.
IRS will expect a documented financial statement. After a review of the financial statement IRS will close your case in one of the following three ways:
1. IRS will put your case in hardship or currently uncollectible which means IRS has determined you have no money to pay them at the current time. Penalties and interest will continue to run and your case will works its way back to the computer system in a couple years. IRS notice and letters will start up somewhere down the road.
2. If you show and ability to pay the IRS back taxes, IRS will insist on the payment plan, installment plan or streamline agreement.
3. IRS will consider a Offer in Compromise or a tax debt settlement.
It is not wise for any taxpayer to file on Offer in Compromise on there own.
There is much involved and I should know. I am a former IRS Agent and teaching Instructor with the IRS. Offers in Compromise are complicated and there is much skill required to have a successful offer accepted.
In summary the keys to getting the IRS off your back:
1. Make sure all tax returns are filed and you are current on all withholding
2. Make sure you have a proper documented 433A, 433F so IRS can close your case,
3. Have a plan B.
We are staffed with former IRS Agents, CPA’s and Board Certified Tax Attorneys.
Call us today to end your tax problem, get immediate tax relief and get your life restored.
IRS, Tax Levy and Unfiled Tax Returns – How to get IRS off your back
by Fresh Start Tax | May 29, 2012 | Tax Help, Uncategorized
New Tax Lien Rules Will Increase Your Credit Score!
Are you aware that the Notice of Federal Tax Lien can remain on your credit reports for as long as it takes you to pay it, plus an additional seven years?
When you full pay the tax liability that gave rise to the Notice of Federal Tax Lien, the Notice of Federal Tax Lien is “released” by the IRS. A Notice of Federal Tax Lien that has been “released” by the IRS stays on your credit report for an additional seven years from the date of “release.” A Notice of Federal Tax Lien that has been “withdrawn” by the IRS is immediately removed from your credit report.
The IRS will not “withdraw” a Notice of Federal Tax Lien that has been “released” due to a tax settlement through an “offer in compromise” or due to the expiration of the “collection statute.”
In the past, the IRS did not “withdraw” a Notice of Federal Lien that was “released” due to the full payment of the tax liability.
The general rule is that a Notice of Federal Tax Lien will be “released” upon satisfaction of the tax liability.
The general rules is that a Notice of Federal Tax Lien may be “withdrawn” for any one of the following reasons:
1. Where the filing of the Notice of Federal Tax Lien was premature or contrary to procedures,
2. Where the taxpayer makes a section 6159 installment agreement, and the agreement does not provide for filing the Notice of Federal Tax Lien,
3. Where the “withdrawal” facilitates collection, or
4. Where it would be in best interest of the taxpayer and the government.
If you have paid your tax liability in full, the IRS must “release” the Notice of Federal Tax Lien and it is done automatically by the IRS. Then it is up to you to request that the IRS “withdraw” the Notice of Federal Tax Lien.
Are you aware that when you have an unpaid tax liability and you enter into a “Direct Installment Agreement,” that you may request the withdrawal of the filed Notice of Federal Tax Lien?
When you enter into an installment agreement to satisfy the liability for which a Notice of Federal Tax Lien was imposed, you may request the “withdrawal” of the Notice of Federal Tax Lien.
To make your request to have the IRS “withdraw” the Notice of Federal Tax Lien, you must complete Form 1227 “Application for Withdrawal of Filed Form 668(Y), Notice of Federal Tax Lien”. This form must be accurately completed, otherwise, your request will be denied. After your request has been approved, the IRS will issue Form 10916(C) “Withdrawal of Filed Notice of Federal Tax Lien.”
With our experienced personnel, we can review all of the facts and circumstances to make the most effective request on the Form 1227 to “withdraw” your Notice of Federal Tax Lien.
by Fresh Start Tax | May 25, 2012 | Tax Help, Uncategorized
New Offer in Compromise Program – Get tax relief in Ft.Lauderdale, Miami, West Palm Beach 954-492-0088
The local Miami, Ft.Lauderdale and West Palm Beach IRS offices are soon to be flooded with Offer in Compromises,Tax Debt Settlements
The IRS Agents have no idea what they are in for. The flood gates have been released.
A more flexible program is now in place and it is called the Fresh Start Program, I think they developed the idea after our name, Fresh Start Tax LLC.
By the way we are former IRS Agents and Managers who know this program inside and out. We taught this program at the IRS.
With the new policy in place, thousands upon thousands of taxpayers will be looking to settle their IRS tax debt.
In the past IRS received about 56,000 offers a year with the acceptance rate about 30%
I would expect that number to triple and probably have a 50% acceptance rate.
Finally, pennies on a dollar is now possible for taxpayers .
In general, an Offer in Compromise is an legal agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed.
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 New IRS Policy number IR-2012-53 which was introduced on May 21, 2012.
The Internal Revenue Service announced another expansion of its “Fresh Start” initiative by offering more flexible terms to its Offer in Compromise (OIC) program that will enable some of the most financially distressed taxpayers to clear up their tax problems and in many cases more quickly than in the past. This remains to be seen depending on the case load. The normal time for an offer once in the system was between 6-12 if you were lucky.
This announcement focuses on the financial analysis used to determine which taxpayers qualify for an OIC. This announcement also enables some taxpayers to resolve their tax problems in as little as two years compared to four or five 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.
The IRS recognizes that many taxpayers are still struggling to pay their bills so the IRS Department of Treasury has been working to put in place common-sense changes to the OIC program to more closely reflect real-world situations.
Changes to the Offer in Compromise Program:
When the IRS calculates a taxpayer’s reasonable collection potential or RCP, it 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.
All offers must be fully paid within 24 months of the date the offer is accepted. The Form 656-B, Offer in Compromise Booklet, and Form 656, Offer in Compromise, has been revised to reflect the changes.You can download the forms on our website.
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.
Allowable Living Expenses allowed by the IRS for Offers in Compromise.
The Allowable Living Expense standards are used in cases requiring financial analysis to determine a taxpayer’s ability to pay.
The standard allowances provide consistency and fairness in collection determinations by incorporating average expenditures for basic necessities for citizens in similar geographic areas. These standards are used when evaluating installment agreement and offer in compromise requests.
The National Standard miscellaneous allowance has been expanded to include additional items.
Taxpayers can use the miscellaneous allowance for expenses such as:
1. credit card payments and
2. bank fees and charges which were never allowed in the past.
IRS has provided some guidance and clarified to allow payments for loans guaranteed by the federal government for the taxpayer’s post-high school education.
In addition, payments for delinquent state and local taxes may be allowed based on percentage basis of tax owed to the state and IRS.
Should you have any questions call us today. Have experienced Former IRS Agents answer your questions.
New Offer in Compromise Program – Get Tax Relief in Ft.Lauderdale, Miami, West Palm Beach
