by Fresh Start Tax | Dec 19, 2018 | Tax Help
Get your IRS bank or wage garnishment levy released today and settle your case at the same time.
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It’s all about knowing the system the methodologies and understanding what it takes to close your case off the IRS enforcement computer.
Once we have a current IRS financial statement within 24 hours we can keep our promise. We cannot only get your IRS bank or wage garnishment levy released we can settle your case as well.
We simply secure your power of attorney, contact IRS and you will never have to speak to IRS, we handle all the communication.
The IRS bank levy is the chief collection tool of the collection division to collect back taxes on taxpayers that have failed to pay.
How they work is simple, they are generated by the IRS Cade 2 computer, how to stop them you will find out in this blog.
The IRS over the years typically files anywhere between 1/2 a million to a million, both Bank and wage garnishment levies.
Depending on the year, the administration and the amount of revenue needed to fill the IRS coffers these numbers fluctuate from 1/2 a million to 3.5 million.
It requires no manpower for the Internal Revenue Service to actually file an IRS bank lev, it is done systematically out of the IRS CADE2 computer.
The Internal Revenue Service keeps its levy sources by collecting your financial information on their computerized system and recording it over the last six years, yes all 1099, W-2, and any financial institution that has required information to file with the Department of treasury appear on this system.
Also if you have written a check to the Internal Revenue Service in the past six years records that is a levy source as well.
If you have not paid the Internal Revenue Service, a final notice of a bank or wage garnishment levy is systematically filed.
The good news about the IRS bank levy is this, your money is frozen in the bank for 21 days, that is, you have 21 days to contact the Internal Revenue Service and they will issue a release of the bank levy but you have to know how to accomplish that and how to make sure that takes place within 21 days.
If the Internal Revenue Service has sent your bank a tax levy and you wish to get an immediate release, call us today. Since 1982.
We have over 200 years of professional tax experience, over 100 years of working directly for the Internal Revenue Service and our staff is composed of certified public accountants, enrolled agents, and former IRS agents, managers and teaching instructors.
We are true experts in IRS bank levies. As former IRS agents we have filed hundreds and hundreds of bank levies so we know the process of getting immediate releases of the documents.
When you call us we will give you a free initial tax consultation, walk you through the program and not only get you your IRS levy release but settle your case at the same time.
There is a very methodical way to get your IRS levy released.
THE HOW TO ABOUT IRS:
IRS will require a basic financial statement along with documentation and after review decide whether to put you into a currently not collectible, payment agreement or may encourage you to file an offer in compromise.
The Internal Revenue Service will have to be contacted and complete documentation of your current financial statement must be given to the Internal Revenue Service or they will make an immediate determination if the financial statement is complete.
We generally immediately send in a power of attorney for all our clients complete and prepare the financial statement along with the documentation, call the Internal Revenue Service and get immediate releases of the federal bank or wage garnishment levies.
After a review your financial statement we will be able to set up a course of strategy and get your levy released immediately.
As a general rule within 24 hours of receiving your current financial statement we can get your bank levy released by the Internal Revenue Service.
Information you need to know about the IRS bank levy.
A levy is a legal seizure of your property to satisfy a tax debt.
IRS Levies are different from IRS liens.
A lien is a legal claim against property to secure payment of the tax debt, while a levy actually takes the property to satisfy the tax debt.
Where does Internal Revenue Service (IRS) authority to levy originate? With congress!
The Internal Revenue Code (IRC) authorizes levies to collect delinquent tax. See IRC 6331. Any property or right to property that belongs to the taxpayer or on which there is a Federal tax lien can be levied, unless the IRC exempts the property from levy.
What actions must the Internal Revenue Service take before a levy can be issued?
The IRS will usually levy only after these three requirements are met:
• The IRS assessed the tax and sent you a Notice and Demand for Payment (a tax bill);
• You neglected or refused to pay the tax; and
• The IRS sent you a Final Notice of Intent to Levy and Notice of Your Right to A Hearing (levy notice) at least 30 days before the levy.
The IRS may give you this notice in person, leave it at your home or your usual place of business, or send it to your last known address by certified or registered mail, return receipt requested.
If you have moved and not let the Internal Revenue Service know, many tax payers find themselves between a rock and a hard place because IRS sends the last final notice to the last filed address on the tax return.
Please note: if the IRS levies your state tax refund, you may receive a Notice of Levy on Your State Tax Refund, Notice of Your Right to Hearing after the levy.
When will the IRS issue a levy or garnishment?
determines that a levy is the next appropriate action, the IRS may levy any property or right to property you own or have an interest in.
For instance, the 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). Or, the IRS could seize and sell property that you hold (such as your car, boat or house).
IRS sends out a series of tax notices.
The Internal Revenue Service must send out a series of letters or bills. starting from a simple notice that you owe the money to and including the final notice a taxpayer can get anywhere between 2 to 5 notices depending on the amount and continued clients that may be habitual. IRS always sends out notices to the last known address on tax returns.
What if a levy on my wages, bank, or other account is causing a hardship?
If the levy on your wages is creating an immediate economic hardship, the levy must be released. If the levy on your bank account or other account is creating an immediate economic hardship, the levy may be released.
An economic hardship occurs when we have determined the levy prevents you from meeting basic, reasonable living expenses. In order for the IRS to determine if a levy is causing hardship, the IRS will usually need you to provide financial information so be prepared to provide it when you call.
A levy release does not mean you are exempt from paying the balance.
The IRS will work with you to establish a payment plan or take other steps to help you pay off the balance. To help ensure quick action, please have the fax number available for the employer, bank or other financial institution that is processing the levy.
When the levy is on a bank account, the Internal Revenue Code (IRC) provides a 21-day waiting period for complying with the levy.
The waiting period is intended to allow you time to contact the IRS and arrange to pay the tax or notify the IRS of errors in the levy.
Generally, IRS levies are delivered via the mail. The date and time of delivery of the levy is the time when the levy is considered to have been made.
In the case of a bank levy, funds in the account are frozen as of the date and time the levy is received. Normally, the levy does not affect funds you add to your bank account after the date of the levy.
IRS Wage Levies may Follow, the 668w
If the IRS levies (seizes) your wages, part of your wages will be sent to the IRS each pay period until:
• You make other arrangements to pay your overdue taxes,
• The amount of overdue taxes you owe is paid, or
• The levy is released.
Part of your wages may be exempt from the levy and the exempt amount will be paid to you. The exempt amount is based on the standard deduction and an “amount determined” calculated in part based on the number of dependents you are allowed for the year the levy is served.
The IRS mails Publication 1494 (PDF) with the levy which explains to your employer how to determine the amount exempt from levy.
Your employer will provide you with a Statement of Dependents and Filing Status to complete and return within three days
If you do not return the statement in three days, your exempt amount is figured as if you are married filing separately with no dependents (zero).
If you have other income sources, the IRS may allocate the exemptions to the other income source and levy on 100% of the income from a particular employer.
IRS Levies are different from IRS liens. Important Info
A lien is a legal claim against your property to secure payment of your tax debt, while a levy actually takes the property to satisfy the tax debt.
A federal tax lien comes into being when the IRS accesses a tax against you and sends you a bill that you neglect or refuse to pay it. The IRS files a public document, the Notice of Federal Tax Lien, to alert creditors that the government has a legal right to your property.
You have the right to appeal if the IRS advises you of the intent to file a Notice of Federal Tax Lien. Your appeal rights are explained in IRS Publication 1660, Collection Appeal Rights (PDF).
When filed, the Notice of Federal Tax Lien is a public document that alerts other creditors that the IRS is asserting a secured claim against your assets.
Credit reporting agencies may find the Notice of Federal Tax Lien and include it in your credit report. An IRS levy is not a public record.
Call us today for a free initial tax consultation and speak to a true IRS tax expert regarding your IRS bank levy or wage levy garnishment.
We are one of the nation’s top Christian defense tax firms.
Nashville, Memphis + Owe Back IRS/State Tax Debt + Levies, Liens, Garnishments + Fast Affordable + Christian Tax Debt Services
by Fresh Start Tax | Nov 14, 2018 | Tax Help
Owe money to the Internal Revenue Service for back taxes, as a former IRS agent here are some key suggestions and tips for you.
1. One of the first things you want to do is make sure all your tax returns are filed. Internal Revenue Service will generally not work with you until all tax returns are filed. If you do not have all your tax records you can we trust an IRS transcript and they will provide your income and wage report for the last six years. if you are self-employed and need help we can complete a tax reconstruction for you to ensure you pay the lowest amount allowed by law.
2. Make sure you have the proper withholding or estimated tax payments currently being taken out so you are up to date, incurring no future debt with the Internal Revenue Service.
3. Make sure that the tax bill you have received from the Internal Revenue Service is accurate. you want to pull out your old tax return and compare it to the current tax bill you have to ensure the Internal Revenue Service has calculated the right assessment.
4. Be familiar with the IRS financial statement and be prepared to give Internal Revenue Service a 433a or 433b if asked for.
5. Understand the various payment agreements or installment agreement arrangements offered by the Internal Revenue Service. You can call our office today and we could review the various programs.
6. If you do not have money to pay your back tax bill you may be able qualify for an IRS hardship or another name for this program is called currently not collectible. IRS has the ability to freeze your current case and review your case two or three years later. The good news is that’s a short-term solution the bad news is penalties and interest continue to run.
7. You should find out whether you are an offer in compromise candidate to settle your debt for pennies on the dollar. The only way to make sure you do this is to check with the true tax professional.
8. Some people are eligible to file a bankruptcy proceeding. The bankruptcy laws are a bit complex and few most people do not know that federal taxes can be discharged in bankruptcy. Generally, the taxes must be three years or older, assessed for 240 days and file for the last two years.
You can check with our firm or to consult a bankruptcy attorney to see if this is applicable for you.
9. One of the most important things that you can do is to contact a professional firm,’s that is people who have worked thousands of cases to find out what is the best plan or settlement could be based on your facts and circumstances.
10. More than anything understand the process. Many times there is a short-term solution to get IRS off your back and a long-term solution.
If your case is complicated do not contact the IRS. Let tax representative take over your case so you do not get bullied by Internal Revenue Service.
Call us today for a free initial tax consultation and we will walk you through the different processes solutions to get the best favorable settlement from the Internal Revenue Service.
When you call our office you will speak to former IRS agents and managers you know the system and of work hundreds upon hundreds of cases since 1982.
We are a full-service tax firm that can take care of all your accounting, tax and bookkeeping needs.
Since 1982, we have been serving the nation for IRS matters, problems and tax solutions. We are A+ rated by the Better Business Bureau.
by Fresh Start Tax | Oct 23, 2018 | Tax Help
If you owe a chunk of change to IRS you have options. You must take an assertive approach to resolve your serious delinquent tax that the IRS.
There are various means of paying back taxes to IRS. As former IRS agents we will explain your options.
As a former IRS agent and teaching instructor with IRS you should know as a general rule someone with more experience will work your IRS collection case.
That person will have a lot of experience looking for assets and more carefully evaluating your current financial statement.
Your current financial statement holds the key to tax negotiation with the Internal Revenue Service.
Success comes by knowing the system and understanding what it takes to close an IRS case.
IRS takes a closer look at all cases large dollar especially the financial statements, the IRS is looking for the ability of the taxpayer to pay the back tax. As a former IRS agent this was part of my job.
One of the first tasks of IRS is to make sure all back tax returns are filed and current in the system.
IRS will not close out any open taxpayer inventory case unless all back tax returns are filed and the taxpayer is current on estimated tax payments or their withholding is up-to-date.
IRS is a stickler on this because they don’t want the problem of the back tax debt recurring.
So how will IRS work your case?
The Internal Revenue Service will ask the taxpayer to fill out an IRS form 433A.
You can find that on our site or on the government site. IRS will expect that form to be fully completed fully documented along with copies of the last six months bank statements, copies of all monthly expenditures, bills and a copy of pay stubs.
IRS will conduct a thorough review on that financial statement.
After this review of the financial statement the Internal Revenue Service generally has various buckets of closing programs that the taxpayer can be put into as a result of their current financial statement.
The importance of filling out your financial statement and giving it to IRS is the key to success and failure. I could never tell you how important the financial statement as it will determine the outcome with Internal Revenue Service.
Bucket One.
Currently uncollectible or hardship cases
If the Internal Revenue Service looks at your current financial statement and determines that your expenses exceed your income and you fall within the necessary means test, IRS can place your case in this non-collectible status.
There is good news and bad news within the status.
The good news is IRS will probably suspend your case between one and three years and kick it out for review a couple of years later, the bad news is the penalties and interest still run and the debt gets larger.
Bucket Two.
Installment agreements or monthly payments
If after the Internal Revenue Service looks at your current financial statement and they determine that you have more income than the necessary standards of meeting tests, IRS will ask for a monthly payment based on that financial statement. Hiring a tax professional can assure that IRS does not grab more money than necessary on or review of your financial statement. There are different monthly installment agreements and we will review with you your options upon your free consultation.
Bucket Three.
Offer in compromise
This is called the pennies on a dollar program that you see advertised on TV however the offer in compromise is not for everyone.
I am a former IRS agent and teacher of the offer in compromise.
Approximately 32,000 taxpayers a year can settle their debt for pennies on the dollar, the average settlement is $9500 a year and I caution and warn taxpayers who submit offers in compromise to go through the IRS pre-qualifier tool to find out if they can truly settle their tax debt.
As a former IRS agent I carefully will walk through your financial statement and if you have any chance of being accepted for the offer I will walk you through the program and submit the offer in compromise.
Bucket Four.
Statute of limitations
IRS has 10 years to collect on their back tax debt, the period starts from the date of the assessment. The date of the assessment is the time that IRS had to put your case on the computer at the start the billing process. Various factors will extend the statute such as bankruptcy, the filing of the CDP, or the filing of offer but as a general rule after the 10 year date of assessment date your case goes away by federal statute,
Bucket Five
Bankruptcy.
Yes, Bankruptcy, many taxpayers are unaware that you could file a bankruptcy, a chapter 7 the discharge debt.
As a general rule the taxes have to be three years or older, assessed for more than 240 days and the tax returns have to be filed for at least two years. there are also different chapters in bankruptcy such as an 11 and 13 that a taxpayer can be qualified by speaking to a true bankruptcy expert.
When you call our office we will walk you through the various programs after review of your current financial statement.
Please keep in mind that you owe over $50,000 the IRS spends a little more time in research in looking at your case.
Many agents will Google your company business or individual self, they will pull up search engine reports to find out about assets or financial histories, check out insurance policies, courthouse records, and credit reports, before they make a determination.
The credit card companies are an excellent source to run down assets, loans and find out monthly payments that you were making.
Call us for a free initial tax consultation and we will walk you through the process of dealing with the Internal Revenue Service.
Owe Serious Delinquent Tax Debt To IRS + Learn Your Options From Former IRS Agents
by Fresh Start Tax | Oct 18, 2018 | Tax Help
Does the IRS want in your pocket to collect a chunk of change, We can Help, We can Stop the IRS NOW!
As a former IRS agent and teaching instructor with IRS , more attention is given to taxpayers who owe larger dollars to the IRS.
IRS takes a closer look at all cases large dollar especially the financial statements, the IRS is looking for the ability of the taxpayer to pay the back tax. As a former IRS agent this was part of my job.
One of the first tasks of IRS is to make sure all back tax returns are filed and current in the system.
IRS will not close out any open taxpayer inventory case unless all back tax returns are filed and the taxpayer is current on estimated tax payments or their withholding is up-to-date.
IRS is a stickler on this because they don’t want the problem of the back tax debt recurring.
So how will IRS work your case?
The Internal Revenue Service will ask the taxpayer to fill out an IRS form 433A.
You can find that on our site or on the government site. IRS will expect that form to be fully completed fully documented along with copies of the last six months bank statements, copies of all monthly expenditures, bills and a copy of pay stubs.
IRS will conduct a thorough review on that financial statement.
After this review of the financial statement the Internal Revenue Service generally has various buckets of closing programs that the taxpayer can be put into as a result of their current financial statement.
The importance of filling out your financial statement and giving it to IRS is the key to success and failure. I could never tell you how important the financial statement as it will determine outcome with Internal Revenue Service.
Bucket One.
Currently uncollectible or hardship cases
If the Internal Revenue Service looks at your current financial statement and determines that your expenses exceed your income and you fall within the necessary means test, IRS can place your case in this non-collectible status.
There is good news and bad news within the status.
The good news is IRS will probably suspend your case between one and three years and kick it out for review a couple of years later, the bad news is the penalties and interest still run and the debt gets larger.
Bucket Two.
Installment agreements or monthly payments
If after the Internal Revenue Service looks at your current financial statement and they determine that you have more income than the necessary standards of meeting tests, IRS will ask for a monthly payment based on that financial statement. Hiring a tax professional can assure that IRS does not grab more money than necessary on or review of your financial statement. There are different monthly installment agreements and we will review with you your options upon your free consultation.
Bucket Three.
Offer in compromise
This is called the pennies on a dollar program that you see advertised on TV however the offer in compromise is not for everyone.
I am a former IRS agent and teacher of the offer in compromise.
Approximately 32,000 taxpayers a year can settle their debt for pennies on the dollar, the average settlement is $9500 a year and I caution and warn taxpayers who submit offers in compromise to go through the IRS pre-qualifier tool to find out if they can truly settle their tax debt.
As a former IRS agent I carefully will walk through your financial statement and if you have any chance of being accepted for the offer I will walk you through the program and submit the offer in compromise.
Bucket Four.
Statute of limitations
IRS has 10 years to collect on their back tax debt, the period starts from the date of the assessment. The date of the assessment is the time that IRS had to put your case on the computer at the start the billing process. Various factors will extend the statute such as bankruptcy, the filing of the CDP, or the filing of offer but as a general rule after the 10 year date of assessment date your case goes away by federal statute,
Bucket Five
Bankruptcy.
Yes, Bankruptcy, many taxpayers are unaware that you could file a bankruptcy, a chapter 7 the discharge debt. As a general rule the taxes have to be three years or older, assessed for more than 240 days and the tax returns have to be filed for at least two years. there are also different chapters in bankruptcy such as an 11 and 13 that a taxpayer can be qualified by speaking to a true bankruptcy expert.
When you call our office we will walk you through the various programs after review of your current financial statement.
Please keep in mind that you owe over $50,000 the IRS spends a little more time in research in looking at your case.
Many agents will Google your company business or individual self, they will pull up search engine reports to find out about assets or financial histories, check out insurance policies, courthouse records, and credit reports, before they make a determination.
The credit card companies are an excellent source to run down assets, loans and find out monthly payments that you were making.
Call us for a free initial tax consultation and we will walk you through the process of dealing with the Internal Revenue Service.
Owe A Chunk Of Change to IRS On Back Taxes + Fast Solutions + Ft. Lauderdale, Miami, Boca Raton, Pompano Beach
