Problems of Tax – Resolve IRS Tax Problems Affordable Tax Problem Experts 1-866-700-1040
If you are having problems with tax and need to completely and immediately resolve your IRS tax problems call us today because we are the affordable tax problem experts.
We are comprised of tax attorneys, certified public accountants and former IRS agents, managers and tax instructors.
We taught Tax Law at the IRS.
We have over 60 years of working directly for the Internal Revenue Service and the local, district, and regional tax offices of the Internal Revenue Service and we have over 206 years of professional tax experience.
We have resolved thousands of taxpayers that are having current IRS and State tax problems.
There are many tax options available to go ahead and to resolve IRS tax problems. With each case being unique in shape by its own set of circumstances and because of our years of experience we can work out affordable tax solutions just for you.
The New Fresh Start Program and Initiative
The Internal Revenue Service has expanded its “Fresh Start” initiative to help struggling taxpayers who owe taxes.
The following four tips explain the expanded relief for taxpayers.
1.Penalty Relief.
Part of the initiative relieves some unemployed taxpayers from failure-to-pay penalties.
Penalties are one of the biggest factors a financially distressed taxpayer faces on a tax bill. The Fresh Start Penalty Relief Program & Initiative gives eligible taxpayers a six-month extension to fully pay 2011 taxes.
Interest still applies on the 2011 taxes from April 17, 2012 until the tax is paid, but you won’t face failure-to-pay penalties if you pay your tax, interest and any other penalties in full by Oct. 15, 2012.
Tax Penalty relief into categories
The penalty relief is available to two categories of taxpayers:
1. Wage earners who have been unemployed at least 30 consecutive day during 2011 or in 2012 up to this year’s April 17 tax deadline.
2. Self-employed individuals who experienced a 25 percent or greater reduction in business income in 2011 due to the economy.
Qualification for Penalty Relief
To qualify for this penalty relief, your adjusted gross income must not exceed $200,000 if married filing jointly or $100,000 if your filing status is single, married filing separately, head of household, or qualifying widower. Your 2011 balance due can not exceed $50,000.
Taxpayers who qualify need to complete a new Form 1127A to request the 2011 penalty relief.
Installment agreements or payment plans.
An installment agreement is a payment option for those who cannot pay their entire tax bill by the due date. The Fresh Start provisions give more taxpayers the ability to use streamlined installment agreements to catch up on back taxes and also more time to pay.
If you owe under $50,000 in tax
The new threshold for requesting an installment agreement has been raised from $25,000 to $50,000. This option requires limited financial information, meaning far less burden to the taxpayer. The maximum term for streamlined installment agreements has been raised to six years from the current five-year maximum.
If your tax debt is over $50,000
If your tax debt is more than $50,000, you’ll still need to supply the IRS with a Collection Information Statement (Form 433-A or Form 433-F).
Please note, you also can pay your balance down to $50,000 or less to qualify for this payment option.
With an installment agreement, you’ll pay less in penalties, but interest continues to accrue on the outstanding balance. In order to qualify for the new expanded streamlined installment agreement, you must agree to monthly direct debit payments.
The offer in compromise program is for those who cannot pay their IRS tax debts
Offer in Compromise Under the first round of Fresh Start in 2011, the IRS expanded the Offer in Compromise (OIC) program to cover a larger group of struggling taxpayers.
An Offer in Compromise is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed.
Generally, an offer will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through a payment agreement. The IRS looks at the taxpayer’s income and assets to make a determination regarding the taxpayer’s ability to pay.
Areas of Professional Tax Practice:
- Same Day IRS Tax Representation
- Offers in Compromise or IRS Tax Debt Settlements
- Immediate Release of IRS Bank Levies or IRS Wage Garnishments
- Tax Relief from a IRS Bill, Letter or Notice of “Intent to Levy”
- IRS Tax Audits
- IRS Hardships Cases or Unable to Pay
- Payment Plans, Installment Agreements, Structured agreements
- Abatement of Penalties and Interest
- State Sales Tax Cases
- Payroll / Trust Fund Penalty Cases / 6672
- Filing Late, Back, Unfiled Tax Returns
- Tax Return Reconstruction if Tax Records are lost or destroyed
Our Company Resume: ( Since 1982 )
- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- We taught Tax Law in the IRS Regional Training Center
- Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed and certified to practice in all 50 States
- Nationally Recognized Veteran /Published Former IRS Agent
- Nationally Recognized Published EZINE Tax Expert
- As heard on GRACE 90.3 FM Monthly Radio Show-Business Weekly
Problems of Tax, Resolve IRS Tax Problems, Affordable Tax Problems Experts
