by Fresh Start Tax | Sep 20, 2014 | Tax Help
Stop the worry. Have Affordable Former IRS Agents who know the system stop the IRS.
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Have affordable former IRS agents and managers who know the system get you immediate and permanent IRS tax help relief.
We have over 60 years of working for the IRS!
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IRS Tax Levy, Bank , Wage Garnishments
FST can get IRS tax levies released within 24 hours of receiving your current financial statement and settle you IRS case at the same time.
If you are undergoing a IRS tax audit you can have former IRS agents and managers who know the audit system inside and out represents you and defend you during an IRS tax audit.
IRS Tax Settlements, Offer in Compromise
If you want to apply for an IRS tax settlement called an offer of compromise you can have a former IRS revenue officer who both worked and taught the tax debt settlement call offer in compromise file your offer in compromise if you are a true candidate for offer in compromise.
What is an Offer in Compromise
An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than the full amount owed. If the liabilities can be fully paid through an installment agreement or other means, the taxpayer will in most cases not be eligible for an OIC.
In order to be eligible for an OIC, the taxpayer must have filed all tax returns, made all required estimated tax payments for the current year and made all required federal tax deposits for the current quarter if the taxpayer is a business owner with employees.
In most cases, the IRS will not accept an OIC unless the amount offered by the taxpayer is equal to or greater than the reasonable collection potential (the RCP). The RCP is how the IRS measures the taxpayer’s ability to pay. The RCP includes the value that can be realized from the taxpayer’s assets, such as real property, automobiles, bank accounts, and other property. In addition to property, the RCP also includes anticipated future income, less certain amounts allowed for basic living expenses.
The IRS may accept an OIC based on three grounds.
- First, acceptance is permitted if there is doubt as to liability. This ground is only met when there is a genuine dispute as to the existence or amount of the correct tax debt under the law.
- Second, acceptance is permitted if there is doubt that the amount owed is fully collectible. Doubt as to collectibility exists in any case where the taxpayer’s assets and income are less than the full amount of the tax liability.
- Third, acceptance is permitted based on effective tax administration. An offer may be accepted based on effective tax administration when there is no doubt that the tax is legally owed and that the full amount owed can be collected, but requiring payment in full would either create an economic hardship or would be unfair and inequitable because of exceptional circumstances.
Past Due Tax Returns
If you have back tax returns you need to file we can go ahead and file your past due tax returns with little or no tax records,
We are a full service tax firm with all work done in-house by true and affordable IRS tax experts.
When surfing the Internet for IRS tax firm to represent you during an IRS problem you should contact companies that have bios and tax professionals who have experience on there websites.
Los Angeles – IRS Back Taxes Help – Tax Levy, Tax Audit, Tax Settlement, Past Returns – Los Angeles – California
by Fresh Start Tax | Sep 12, 2014 | Tax Help
If you want to settle your debt for pennies on a dollar it only makes perfect sense to hire a former IRS revenue officer who both worked and taught the IRS tax debt settlement program called the offer in compromise.
Not only did we work and settle cases for the Internal Revenue Service, we also taught IRS agents how to work the the program and qualify taxpayers for The tax debt settlement program.
I am one of the most foremost experts on how to settle your debt for pennies on a dollar.
We are very affordable.
The IRS tax settlement process is very specific.
- 38% of all those who apply to the IRS tax settlement called the offer in compromise get there tax debt settlement approved.
- The average settlement is $.14 on the dollar but everything is completely predicated on your current and verifiable financial statement.
My blog contains some of the material necessary to find out if you have a qualified case to settle your debt to the offer in compromise.
FST takes no money from any potential clients unless we know they have a very viable chance of acceptance for the offer in compromise program. we will walk you through the IRS pre-qualifier tool before sending in any IRS tax debt settlement or offer in compromise.
Below you will find out the basic outline of what the average taxpayer needs to know how to settle their debt through the IRS offer in compromise.
The IRS Offer in Compromise, How to Settle Your IRS Tax Debt
An offer in compromise/IRS Tax Debt Settlement allows you to settle your tax debt for less than the full amount you owe.
It may be a legitimate option if you can’t pay your full tax liability, or doing so creates a financial hardship.
The IRS will and can consider your:
1. Ability to pay;
2. Income;
3. Expenses; and
4. Asset equity.
The IRS generally approve an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time.
The Offer in Compromise program is not for everyone. Let us pre-qualify you.
If you use the Pre- Qualifier tool for the IRS Tax Settlement called the Offer in Compromise
The IRS in the process of making modifications to the Pre-Qualifier Tool application.
If you use this tool, please consider making the following adjustments to your displayed results.
- If you enter an amount on Screen 3 Assets, Line 1 which reads “Total bank Balances,” you may reduce this amount by $1000. The result may not be less than zero.
- If you enter an amount on Screen 3, Vehicle 1, you may reduce this amount by $3450. The result may not be less than zero.
- If you enter an amount on Screen 3, Vehicle 2, and you are making a joint offer with a spouse or other party, you may also reduce this amount by $3450. The result may not be less than zero.
This is the latest information.
Make sure you are eligible to settle your IRS Tax Debt though the Offer in Compromise
Before we 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.
You can use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.
Submitting your offer in compromise to settle your IRS tax debt.
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 must include:
1. Form 433-A (OIC) (individuals) or
2. 433-B (OIC) (businesses) and all required documentation as specified on the forms;
3. Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;
4.$186 application fee (non-refundable); and
5. Initial payment (non-refundable) for each Form 656.
Select a payment option for the offer in compromise/IRS Tax Debt Settlement
Your initial payment will vary based on your offer and the payment option you choose:
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.
Periodic Payments to the IRS:
Submit your initial payment with your application. Continue to pay the remaining balance in monthly installments while the IRS considers your offer.
If accepted, continue to pay monthly until it is paid in full.
If you meet the Low Income Certification guidelines, you do not have to send the application fee or the initial payment and you will not need to make monthly installments during the evaluation of your offer.
Understand the process of an offer in compromise, IRS tax debt settlement
Important Note – While your offer 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.
Los Angeles – IRS Tax Debt Settlement, Offer in Compromise = Affordable Former IRS Settlement Officer = Los Angeles, California
by Fresh Start Tax | Sep 12, 2014 | Tax Help
As Former IRS Agents and Managers we know the system.
We are the Affordable Professional Tax Firm for resolving your Back Tax Debt Problems.
As Former IRS agents and managers we know the system inside and out.
We also were former IRS instructors. Other companies hire us!
Searching the Internet, Use Caution
In searching the Internet you will find many advertisers in the vertical of owing IRS back taxes.
A closer look at many of these Internet firms, you will find that many are no more than lead generations. Check out there sites, there are no bio’s of professionals, because there are none.
Lead generation companies are advertisers who farm and sell your information to third parties who will pay the highest amount of money for your information.Anywhere up to $90 a shot.
As a result, you never know who’ll wind up with your personal information.
Fresh Start Tax LLC is a true IRS tax resolution firm specializing individuals, companies, corporations that owe back IRS taxes. A plus rated BBB.
Our firm is staffed with IRS tax attorneys, tax lawyers, certified public accountants, enrolled agents and former IRS revenue officers.
Our former IRS staff has over 60 years of professional tax experience in the local, district, and regional tax offices of the Internal Revenue Service.
We have been in private practice since 1982 and are A+ rated by the Better Business Bureau.
There are variety of solutions available for taxpayers who will IRS back taxes.
If you are going to owe back taxes to the Internal Revenue Service, the IRS will require a current financial statement usually on form 433-F.
Once IRS sees that form documented and verified they will close your case off the enforcement computer.
There are two general ways in which IRS will close your case.
1. Through a economic tax hardship, which means you don’t have enough money to cover your current expenses within the necessary standards.
2. The other is that you can make a payment based on your current income and expenses.
A possibility – The third option is the possibility of an offer in compromise called a tax debt settlement.
Over 38% of all those who apply qualify for the offer in compromise program.
Call us today for a free initial tax consultation and we will walk you through the process of resolving permanently, efficiently and affordably your IRS back tax debt problems.
If you owe back taxes and problems we are the affordable tax experts.
Call us today for a free initial tax consultation and hear the truth about your case. We are honest, experienced and the affordable tax experts for owing IRS back taxes.
Los Angeles – Owe Back IRS Taxes, Tax Debt Former IRS Agent who Know the System, Los Angeles, California
