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 1, 2018 | Tax Help
IRS Tax Relief Programs + 5 Different Options + Hear The TRUTH + Former IRS Who Know the System, Since 1982
Since 1982 we have been resolving IRS tax issues and we have an amazing history of successful client work and satisfied customers and that is due to the experience we have in dealing with IRS tax problems and tax issues and IRS tax relief.
On staff are former IRS agents, managers and teaching instructors who were supervisors and managers while working at the Internal Revenue Service.
As a result of all of our work experience, we understand the methodologies and all the procedures to close IRS cases in the most prudent and affordable manner.
Upon your initial consultation in almost all cases we will let you know how your tax case will resolve itself and exactly how much it will cost you.
We have worked thousands of cases since 1982 and know the most efficient way to get you where you need to be.
You will never have to speak to Internal Revenue Service we will handle all communication with you to you and with the Internal Revenue Service
IRS Tax Relief Programs
Many taxpayers for a variety of reasons cannot qualify for an offer in compromise and IRS has four other buckets of ways they close cases once they were open in the IRS collection
They are as followed:
Hardship, payment agreement, statute of expiration, bankruptcy, offer in compromise.
1. For those who are financially strapped and qualify, IRS has a currently non-collectible program in which taxpayers who qualify IRS will temporarily suspend their case between one and three years and then kick the case out later and re-review the financial statement.
Approximately 40% of all people who are in the current IRS collection Q wind up in a temporarily non-collectible file.
2. While other people based on their current financial statement can make a payment arrangement with the Internal Revenue Service. Approximately 6.5 billion people wind up in payment agreements because of their current financial statement. The Internal Revenue Service will use the national standard test to make sure the agreement is fair and reasonable.
3. Others qualify because the statute of limitation has expired on their tax assessments. As a general rule IRS has approximately 10 years to collect all cases. we can pull IRS tax transcripts to find out how close you are to having your statute of limitations expired.
4. While others can file Chapter 7 bankruptcy proceeding. We were review with you each of the criteria when you call us.
5. Offers in Compromise
We are AFFORDABLE IRS specialist experts for the Offer in Compromise for those wishing to settle their IRS tax debt. Former IRS Agents, since 1982. Former IRS OIC Specialist.
I am a former IRS agent and teaching instructor of the offer in compromise or tax debt settlement program along with other IRS programs and systems.
We have over 60 years of direct work experience in the local, district, and regional tax offices of the Internal Revenue Service. We are true IRS experts who understand the IRS collection system.
All our work is done in-house and we are used by other firms to do their backend work.
You can call us today for free initial tax consultation and find out if you are a true offer in compromise tax debt settlement candidate.
Due to the IRS new fresh start initiative set out by the Internal Revenue Service many more taxpayers are eligible for the tax debt settlement.
Before a taxpayer or client thinks about the filing of an offer in compromise they should check out the IRS offer in compromise pre-qualifier tool first.
You can walk to the pre-qualifier tool on our site or call us today to learn more about it.
We will not file an offer in compromise or accept any fee for any client unless we know they are qualified for the program.
So if we send in your offer in compromise, you probably do have a pretty good chance of getting it accepted.
It is important to know you will that all back tax returns will have to be filed, up-to-date and current on the IRS computer system before the Internal Revenue Service will accept an offer in compromise.
IRS Tax Statistics for the OIC
Last year there were 78,000 offers in compromise were filed with the Internal Revenue Service, 38% of those were accepted for an average of $6500 per case.
Keep in mind this is a national average and varies from case to case is completely dependent on your current financial statement.
About 20% of all offers in compromise go to the Appellate Division for settlement.
You should know that not everyone is an offer in compromise candidate to settle their tax debt.
Make sure you are eligible for the OIC.
Before IRS can consider your offer, you must be current with all filing and payment requirements.
You are not eligible if you are in an open bankruptcy proceeding.
Submitting your offer or OIC to the Internal Revenue Service.
You’ll find step-by-step instructions and all the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B (PDF).
Your completed offer package will include:
• Form 433-A (OIC) (individuals) or 433-B (OIC) (businesses) and all required documentation as specified on the forms;
• Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;
• $186 application fee (non-refundable); and
• Initial payment (non-refundable) for each Form 656.
Selecting a payment option for the offer in compromise program
Your initial payment will vary based on your offer and the payment option you choose:
• IRS Lump Sum Cash:
Submit an initial payment of 20 percent of the total offer amount with your application. Wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.
• IRS Periodic Payment:
Submit your initial payment with your application. Continue to pay the remaining balance in monthly installments while the IRS considers your offer.
If accepted, you must continue to pay monthly until it is paid in full.
While your offer in compromise is being evaluated:
• Your non-refundable payments and fees will be applied to the tax liability (you may designate payments to a specific tax year and tax debt);
• A Notice of Federal Tax Lien may be filed;
• Other collection activities are suspended;
• The legal assessment and collection period is extended;
• Make all required payments associated with your offer;
• You are not required to make payments on an existing installment agreement; and
• Your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.
As a side note, taxpayers should be aware that all tax returns must be filed before they can have an approved offer in compromise.
Before IRS will work an case to settle your tax debt they will want all tax returns filed and they will want to make sure you are current on your ES payments or your withholding in the current year we are in.
We could prepare all back returns for you with little or no records.
Our founder has been on FOX Business news as well as NBC.
IRS Tax Relief Programs + 5 Different Program Options + Hear The TRUTH = Former IRS
