by steve | Aug 19, 2010 | IRS Tax Advice
Christians needing IRS Tax Relief, Representation and Resolution. <>< Call Fresh Start Tax at 1-866-700-1040.
Available in all 50 States.
We have on our staff former IRS Agents. All staff: Christians.
If you are looking for IRS help of any kind, call Fresh Start Tax, a rock solid Christian Tax Representation firm, at 1-866-700-1040.
We are licensed in all 50 states and offer one of the finest tax representation services available to the Christian Community. One of the features our firm offers is SKYPE, a free video hook up so you can actually see the tax professional working your case.
We have tax attorney’s, CPA’s, Enrolled Agents, Former IRS Agents and Instructors and a full staff of other tax experts. Here are some of the reasons to use us as your representation:
WHAT CAN YOU EXPECT FROM FRESH START TAX<><
* Biblical based perspective
* Ethical tax resolution on each and every case
* Fast and quick resolution on all IRS problems
* Fair and reasonable billing
* Results you can live with
* Peace of mind
You should also know, all of us are commanded to pay our rightful taxes. Without question, scripture is quite clear on this issue. We are to follow the biblical command and render to Caesar the things that belong to Caesar.
For God ordained each and every government. The Federal government does allow us to negotiate and settle our taxes when the situation exists.
The Offer in Compromise process has been set up by the IRS to settle back taxes because it can allow a chance for the Federal government to collect something. We will help you work through the process the IRS has legally established.
Other options available to resolve your back tax issues may include a suspension of your case by the IRS or a payment agreement plan that does not incur a financial hardship or burden on you and your family.
TYPES OF PROBLEMS FRESH START TAX CAN QUICKLY RESOLVE
* Delinquent taxes
* Wage or bank levies
* Filing delinquent returns
* Offers in compromise
* Federal tax liens
* Settlement on all types of tax issues
Contact us today and speak to one of our Christian Tax Professionals at 1-866-700-1040. Skype password; freshstarttax
Please feel free to email us any questions you may have to sully@freshstarttax.com.
by steve | Aug 19, 2010 | IRS Tax Advice
Christians needing IRS Tax Relief, Representation and Resolution. <>< Call Fresh Start Tax at 1-866-700-1040.
Available in all 50 States.
We have on our staff former IRS Agents. All staff: Christians.
If you are looking for IRS help of any kind, call Fresh Start Tax, a rock solid Christian Tax Representation firm, at 1-866-700-1040.
We are licensed in all 50 states and offer one of the finest tax representation services available to the Christian Community. One of the features our firm offers is SKYPE, a free video hook up so you can actually see the tax professional working your case.
We have tax attorney’s, CPA’s, Enrolled Agents, Former IRS Agents and Instructors and a full staff of other tax experts. Here are some of the reasons to use us as your representation:
WHAT CAN YOU EXPECT FROM FRESH START TAX<><
* Biblical based perspective
* Ethical tax resolution on each and every case
* Fast and quick resolution on all IRS problems
* Fair and reasonable billing
* Results you can live with
* Peace of mind
You should also know, all of us are commanded to pay our rightful taxes. Without question, scripture is quite clear on this issue. We are to follow the biblical command and render to Caesar the things that belong to Caesar.
For God ordained each and every government. The Federal government does allow us to negotiate and settle our taxes when the situation exists.
The Offer in Compromise process has been set up by the IRS to settle back taxes because it can allow a chance for the Federal government to collect something. We will help you work through the process the IRS has legally established.
Other options available to resolve your back tax issues may include a suspension of your case by the IRS or a payment agreement plan that does not incur a financial hardship or burden on you and your family.
TYPES OF PROBLEMS FRESH START TAX CAN QUICKLY RESOLVE
* Delinquent taxes
* Wage or bank levies
* Filing delinquent returns
* Offers in compromise
* Federal tax liens
* Settlement on all types of tax issues
Contact us today and speak to one of our Christian Tax Professionals at 1-866-700-1040. Skype password; freshstarttax
Please feel free to email us any questions you may have to sully@freshstarttax.com.
by steve | Aug 2, 2010 | IRS Tax Advice, Tax News
IRS Internal Revenue Service
Are you needing help with the Internal Revenue Service? Hire former IRS Agents 1-866-700-1040 Licensed in all 50 States
* Do you owe back taxes?
* Have unfiled Tax returns?
* Have a Federal Tax Lien filed against you?
* Are your wages going to be levied?
* Having an IRS tax audit
If you are looking for professional tax representation, Fresh Start Tax is one of the nations premier tax resolutions companies. It’s staff has been representing individuals and businesses before the Internal Revenue Service (IRS) for the past 28 years. The firm is an honest , reputable company that has the highest rating the Better Business Bureau can give.
The firm is comprised of Board Certified Tax Attorney’s, CPA’S, Former IRS Managers and Instructors. You can resolve your problem with tax experts, economically, fast and with a favorable solutions.
Here are some facts about IRS:
* IRS audits approx. 1.4 millions tax returns a year
* IRS Seizes approx. 3.4 million bank accounts and pay checks
* IRS files approx. 950,000 federal tax liens
Know Your Rights
You have rights as a taxpayer when dealing with the IRS.
* Publication 1, Your Rights as a Taxpayer
* Protecting Taxpayer Rights, Fact Sheet
* The Taxpayer Bill of Rights 2, as passed by Congress
* Taxpayer Bill of Rights II, IRS Training Publication
* Low Income Taxpayer Clinics , Access to Representation
Your Civil Rights Are Protected
Under no circumstances will the Internal Revenue Service tolerate discrimination by its employees, grantees, contractors, and/or subcontractors. NO ONE shall be excluded from participating in, be denied the benefits of, or be subject to discrimination because of: race, color, sex, national origin, disability, reprisal, or age in programs or activities funded by the Department of Treasury – Internal Revenue Service.
Taxpayer Advocate Service
The Taxpayer Advocate Service (TAS) is an IRS program that provides an independent system to assure that tax problems, which have not been resolved through normal channels, are promptly and fairly handled.
Notices
What should you do if you receive a notice from the IRS?
* Understanding your notice
* Topic – IRS notices
Your Rights to Representation
Learn more about granting power of attorney.
You are entitled to similar protection of confidentiality with respect to tax advice given by a federally authorized tax practitioner as with an attorney.
Every taxpayer is entitled to have access to representation. The Low Income Tax Clinic grant program is designed to help accredited academic institutions and non-profit organizations provide low to no-cost tax assistance (such as representing the taxpayer during an audit or tax collection effort) and/or tax outreach to taxpayers for whom English is a second language. Click here for IRS Grant Program Information.
* Frequently Asked Questions
Examination
We accept most taxpayer’s returns as filed. If we inquire about your return or select it for examination, it does not suggest that you are dishonest. The inquiry or examination may or may not result in more tax. To learn about your rights during the examination process, and for information about how audits are conducted;
* Examination of Returns, Appeal Rights, and Claims for Refunds – Publication 556
* Market Segment and Specialization Program (MSSP)
Appeal Rights
It is your right to appeal any action taken by the IRS to change your account.
* Topic – Your Appeal Rights
* Appeals Division
Collection Process
Learn about the process IRS may follow to collect overdue taxes, including a summary of your rights and other important information about the collection process.
* Pub 594, The IRS Collection Process
* Topic: Tax Collection
* Frequently Asked Questions
* Collection Financial Standards
* Form 9465 – Installment Agreement Request
Innocent Spouse
The Reform Act of 1998, broadened the relief from joint liability available to spouses who file joint returns.Call us today to find out more.
Fresh Start Tax , you can set up a free video conference with us today. 1-866-700-1040 Highest BBB rating in the industry. www.freshstarttax.com
by steve | Jul 16, 2010 | IRS Tax Advice
Closing a Business Checklist from IRS and Fresh Start Tax to help the process go smooth
There are typical actions that are taken when closing a business. You must file an annual return for the year you go out of business. If you have employees, you must file the final employment tax returns, in addition to making final federal tax deposits of these taxes. Also attach a statement to your return showing the name of the person keeping the payroll records and the address where those records will be kept.
The annual tax return for a partnership, corporation, S corporation, limited liability company or trust includes check boxes near the top front page just below the entity information. For the tax year in which your business ceases to exist, check the box that indicates this tax return is a final return. If there are Schedule K-1s, repeat the same procedure on the Schedule K-1.
You will also need to file returns to report disposing of business property, reporting the exchange of like-kind property, and/or changing the form of your business. If you do not have a pre-printed envelope in which to send your taxes, refer to the Where To File page for a list of addresses. Below is a list of typical actions to take when closing a business, depending on your type of business structure:
Checklist to go over during this process
* Make the final federal tax deposits
o Electronic Federal Tax Paying System (EFTPS)
o Form 8109-B
* File final quarterly or annual employment tax form.
o Form 940, Employer’s Annual Federal Unemployment)Tax Return
o Form 941, Employer’s Quarterly Federal Tax Return
o Form 943, Employer’s Annual Tax Return for Agricultural Employees
o Form 943-A, Agricultural Employer’s Record of Federal Tax Liability
* Issue final wage and withholding information to employees
o Form W-2, Wage and Tax Statement
* Report information from W-2s issued.
o Form W-3, Transmittal of Income and Tax Statements
* File final tip income and allocated tips information return.
o Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips
* Report capital gains or losses.
o Form 1040, U.S. Individual Income Tax Return
o Form 1065, U.S. Partnership Return of Income
o Form 1120 (Schedule D), Capital Gains and Losses
* Report partner’s/shareholder’s shares.
o Form 1065 (Schedule K-1), Partner’s Share of Income, Credits, Deductions,
o Form 1120S (Schedule K-1), Shareholder’s Share of Income, Credits, Deductions, etc.
* File final employee pension/benefit plan.
o Form 5500, Annual Return/Report of Employee Benefit Plan
* Issue payment information to sub-contractors.
o Form 1099-MISC, Miscellaneous Income
* Report information from 1099s issued.
o Form 1096, Annual Summary and Transmittal of U.S. Information Returns
* Report corporate dissolution or liquidation.
o Form 966, Corporate Dissolution or Liquidation
* Consider allowing S corporation election to terminate.
o Form 1120S, Instructions
* Report business asset sales.
o Form 8594, Asset Acquisition Statement
* Report the sale or exchange of property used in your trade or business.
o Form 4797, Sales of Business Property
Should you owe any Federal Payroll taxes, 941’s, remember the IRS has the ability to personally go after the money. This means IRS garnishments and federal tax levies. This process is called the trust fund recovery penalty. Should you have this situation you should immediately contact the tax professionals at Fresh Start Tax today. 1-866-700-1040 We can save you plenty. We are THE PRO’s.
by steve | Jun 2, 2010 | IRS Tax Advice, Tax News
Overview of the Estate Tax Lien
1.
Before the Federal Government files a federal tax lien on an estate tax case, the IRS gives careful thought to the advantages and limitations of each type of estate tax lien.
2.
In many cases, the general lien is the best tool to protect the federal government’s interest. The Federal Estate Tax Lien is automatically created when any resident of the United States dies. No recorded notice is required for it to become effective. It attaches to all of the assets that are part of the decedent’s gross estate and are required to be reported on Form 706, United States Estate Tax Return, and is security for any estate taxes that may be determined to be due. If a probate asset is transferred or liquidated without payment of the tax, but for the exceptions detailed at IRM of the Internal Revenue Manual, the federal estate tax lien continues to attach to the asset. If a non-probate asset is transferred or liquidated without payment of the tax, a liability equal to the value of the asset at the time of the decedent’s death becomes due from the transferee. A separate assessment against the transferee is not needed. Assets of the gross estate can be sold or encumbered free of lien if the proceeds from the sale or loan are used for the payment of charges against the estate or expenses of its administration that are allowed by any court having jurisdiction.
3.
A limitation of the general federal estate tax lien is that it has an absolute life of 10 years. It cannot be extended. Estate tax attributable to an estate’s interest in a closely held business may be paid over a 14-year period if an extension of time to pay under IRC is in effect which could potentially leave the Service without lien protection for four years if a notice of lien is not recorded before the 10 years have elapsed.
4.
The filing of Form 668-J will secure the deferred taxes for the duration of the extension. The collection statute of limitations is suspended during the period of the extension.
1.
The federal estate tax lien attaches only the property specified on the recorded lien. A lien on property with equivalent value can be substituted for the actual property upon agreement between the Internal Revenue Service and all parties with an interest in the property.
2.
When estate property is listed on the recorded IRS Form 668-J, it is automatically released from the effects of the general estate tax lien.
3. Find the closest Estate and gift Unit of the Internal Revenue Service and they should be able to help you with these issues.
Requesting a Release, Discharge of Property From, or Subordination of Unrecorded Federal Estate Tax Lien
1.
Releasing the Estate Tax Lien Occasionally, the IRS office receives requests for release of the unrecorded estate tax lien. However, just as there is no provision for recording a notice of the unrecorded estate tax lien, there is no provision for recording a release. Individuals are instructed to provide documentation to potential purchasers of the decedent’s property that either there was no Form 706 filing requirement, or, if Form 706 was filed and a closing letter has been provided to the estate by Estate & Gift Tax and a copy of the return, the Estate Tax Closing Letter 627 , and verification of payment, are evidence that the federal estate tax lien has been satisfied.
2.
Discharge of the Estate Tax Lien
1.
Those individuals looking for discharge under are usually submitted on Form 4422, Application for Certificate Discharging Property Subject to Estate Tax Lien. These applications will be processed by Estate and Gift division of IRS. If Form 706 has not been filed or if a closing letter has not been issued. If Form 706 has been filed and a closing letter has been issued, applications for discharge will be processed by Advisory Unit of IRS , United States Certificate Discharging Property Subject to Estate Tax Lien, is used to discharge the property.
2.
Applications for discharge will be processed by Advisory Unit in the local office. If Form 706 has not been filed or if a closing letter has not been issued, Advisory will consult with Estate and Gift division in order to determine the government’s lien interest.
3.
Subordination of the Estate Tax Lien Individuals looking for a subordination will be processed by the Local Advisory Unit. If Form 706 has not been filed or if a closing letter has not been issued, Advisory Unit will consult with the Estate and Gift Division in order to determine the government’s lien interest.
The Federal Gift Tax Lien
1.
The provisions of the federal gift tax lien are also delineated in IRC and parallel those for the general estate tax lien. ( Same as above )
2.
The special gift tax lien imposed attaches to all gifts made during the calendar year for the amount of the gift tax imposed upon the gifts made during such year. If the gift tax is not paid by the donor when due, the donee of any gift becomes personally liable for the tax to the extent of the value of the gift. The gift tax lien extends for a period of ten years from the time the gifts were made or until or the tax is paid, whichever date is sooner.
Should you have any questions about any of these issues, call the Fresh Start Tax professionals at 1.866.700.1040
