by steve | Jun 18, 2011 | IRS Tax Advice, Tax News
Fresh Start Tax LLC A Professional Tax Firm with a Nation Wide Tax Practice “A” Rated by the Better Business Bureau Since 1982
Most of the individual and businesses that Fresh Start Tax LLC deals with cannot full pay their back tax liability and payments must be made to the Internal Revenue Service.
There are different option available to the taxpayers depending on the facts, circumstances and the dollar amount owed on each and every case.
Please note all tax returns need to be filed and up to date.
By calling our office or setting up a free phone interview or free consultation we can discuss with you the best settlement option to relieve you of your tax problems
Different types of Internal revenue Service Payment Options:
1.Guaranteed Agreement Payment
This pay agreement with the Internal Revenue Service is available to individual taxpayers only who owe less than $10,000, are not able to pay the liability in full, and have not had an Installment Agreement under this provision or allowance within the last (5) five years. You must be able to satisfy the tax liability in three years. No financial statement is required, although the IRS may request one. This agreement applies to income tax or unpaid out of business employment taxes only. If the case is in the local branch office and a Revenue Officer is assigned to the case, the IRS Agent usually will request a 433A financial statement.
2 Streamlined Agreement Payment ( under $25,000 )
This type of Installment Agreement is available to taxpayers who owe less than $25,000 and are not able to pay the full amount. The taxpayer must also agree to completely satisfy the liability and keep all other taxes current over the five-year term of the agreement. As with the guaranteed agreement, financial information is usually not required and the agreement applies to income tax or out of business employment taxes only. See above statement for cases being in the local IRS office.
3. High Dollar Agreement Payments ( over $25,000 )
This agreement is designed for taxpayers who owe more than $25,000 and are not able to pay the liability in full. The IRS understands that you may need more time than is allowed under the guaranteed or streamlined agreement programs. Under the high dollar plan, you must agree to fully satisfy your liability prior to the expiration of the statue of limitations( statutes are usually 10 years from the dates of assessment) or agree to a one-time extension of the statute of limitations for up to five additional years, as well as to keep all taxes current in the interim. High dollar installment agreements require a full and complete financial disclosure. The taxpayer will have to complete a 433F or a 433A. If the taxpayer is a corporation, the IRS will require complete financial disclosures from all officers and some employees of the company. Documentation will be required on all financial statements.
4. Partial Payment Agreement
Under this plan, the IRS agrees to accept installment payments that will result in a partial payment of the tax liability. To qualify for a Partial Payment Installment Agreement (PPIA), you must provide complete financial information that will be reviewed and verified. You will also be required to address equity in assets that can be utilized to reduce the outstanding liability.
If you are granted a Partial Payment Plan Agreement, you will be subject to a financial review every two years for the duration of the agreement. If your financial condition has improved, the amount of your payments could increase or the agreement could be terminated. If your financial condition has deteriorated, the amount of your payments could be decreased.
IRS may review these cases whenever they wish and usually they place a mandatory follow up review date ensuring the case will come back out to the field in the future.
Should you have any questions please call Fresh Start Tax LLC today for a free phone or video consultation.
by steve | Apr 8, 2011 | IRS Tax Advice, Tax News
Affordable Fresh Start Tax LLC A Professional South Florida Firm practicing IRS Tax Help and IRS Tax Representation since 1982 in South Florida.
We are “A” Plus Rated by the Better Business Bureau
We are a home grown tax firm, raised in South Florida.
We are former IRS Agents, Supervisors and Instructors who worked out of the Internal Revenue Service office in Miami and Ft.Lauderdale.
We have over 60 years working experience at the IRS. We were also teaching instructors at the IRS. We know all there tax strategies.
Beware: Do not hire from tax mills of TV commercials, you will be ripped off.
We are one of the oldest, most trusted and experienced tax firms in South Florida.
Area of IRS Tax Relief Help:
- Immediate IRS Tax Representation
- Offers in Compromise/ IRS Tax Debt Settlement
- Immediate Release of Bank Garnishments or Wage Levies
- IRS Bill/Notice of “Intent to Levy” or Final Notices
- IRS Tax Audits Small and Large Dollar
- Hardships Cases / Unable to Pay
- Payment Plans, Installment Agreements
- Innocent Spouse Relief
- Abatement of Penalties and Interest
- State Sales Tax Cases
- Payroll/ Trust Fund Penalty Cases
- Non-filers, never filed, old and past due tax returns
Why hire Fresh Start Tax, LLC? We tell you the truth!
1. Fresh Start Tax, LLC is a local Florida Tax Firm whose principles have been practicing Tax Law and IRS Representation in Florida since 1982.
2. On staff are Board Certified Tax Attorneys, CPAs and former IRS Agents, Managers and Tax Instructors who’ve worked at the IRS over 60 years collectively.
3. Former IRS Agents, Managers and Instructors will manage, review, represent and settle your tax case for the best possible settlement.
4. We are one of most trusted Professional Tax Firms in Florida with over 140 years of professional tax experience.
5. We have an “A” Rating by the Better Business Bureau.
by steve | Mar 12, 2011 | IRS Tax Advice, Tax News
Fresh Start Tax “A” Rated by the Better Business Bureau A Florida Professional Tax Firm practicing in the State of Florida since 1982. We are an Expert IRS Tax Firm specializing in IRS Tax Debt Relief.
Why are we the premier IRS Debt Relief Company?
We are the most experienced and trusted tax firm.
We are comprised of Board Certified Tax Attorneys, CPA’s and Former IRS Agents, Managers and Instructors who worked for the IRS in the Florida IRS offices on the district and regional level for over 60 years. No firm has more IRS tax experience than Fresh Start Tax LLC.
How we work your case to immediately resolve your IRS matter:IRS Tax Debt Relief
1. We immediately send a power of attorney to the IRS letting them know we are now your representative. You will never have to speak to the IRS.
2. We will make sure your tax returns are filed and current. If your tax returns are not up to date, IRS will refuse to work your case. This is leverage that the IRS uses to get you compliant. We can pull tax transcripts, file and prepare your tax returns within days.
3. IRS requires a current financial statement. We will secure a required 433-F (IRS financial statement), verify the income and expenses and work out a settlement agreement. IRS will require a closing settlement method for each case.
4. Settlement agreements can be in different forms:
a. Hardship Settlements. Cases usually go into a 3 year suspended status because of an inability to pay. This is also called currently noncollectable. Your case will go into a hardship status because you do not have the income coming in to met your current expenses. IRS will use the National Standards Program to assess hardship.
b. Payment Agreements. Cases can be closed with agreed upon monthly installment payments to the IRS. We will review the different programs IRS uses for the lowest possible amount required.
c. Offer in Compromise. There are three types of OICs:
1. Doubt as to Collectibility – Doubt exists that the taxpayer could ever pay the full amount of tax liability owed within the remainder of the statutory period for collection.
2. Doubt as to Liability – A legitimate doubt exists that the assessed tax liability is correct.
3. Effective Tax Administration – There is no doubt that the tax is correct and there is potential to collect the full amount of the tax owed, but an exceptional circumstance exists.
Call us for a free tax consultation. Free video conferencing is also available.
by steve | Dec 15, 2010 | IRS Tax Advice
Fresh Start Tax 1-866-700-1040 A Professional Tax Firm “A” Rated by the Better Business Bureau
If you owe IRS Civil Penalties and Interest to the IRS, call our tax firm today. IRS has imposed a civil penalty against you or a business that you owned. This tax liability is on the current IRS Collection system computer and a tax strategy needs to be set up to deal with the liability as it exists.
Our tax firm deals specifically with IRS Issues and Resolution. Call us to day for a free consultation. It will not go way by itself and unattended, IRS will follow up with IRS Collection action. These are relatively simple to take care of.
Our Company Resume:
- Our staff has over 135 years of professional tax representation experience collectively
- On staff, Board Certified Tax Attorney’s, Certified Public Accountants, Enrolled Agents, Former IRS Managers, Instructors and Trainers
- Highest Rating by the Better Business Bureau “A”
- Extremely ethical and moral
- Fast, affordable, and economical
- Licensed to practice in all 50 States
- Premium on client communication
- Nationally Recognized Veteran Former IRS Agent
- Nationally Recognized Published Tax Expert
How we handle your case:
- We obtain all the information from our clients and get an accurate description of the problem.
- We immediately send a power of attorney to the IRS so you never have to speak to them.
- We immediately have the IRS stop all of their enforcement action with that first call.
- We make sure the tax liability is correct by pulling tax transcripts and documents from the IRS’ computer.
- We file any returns that the IRS needs to get you current. All tax returns must be filed before the IRS will consider any agreements.
- We make sure your case is settled for the lowest possible amount allowed by law by going over all the different options that are available to you.
