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 23, 2010 | Florida Sales Tax, IRS Tax Advice
Owe Sales Tax or IRS Taxes?
Call the Tax Professionals at Fresh Start Tax today. 1-866-700-1040.
There are few companies in the workplace today that offer the expertise that Fresh Start Tax can give their clients.
Our company has former IRS Agents and Former Department of Revenue Managers and Auditors that can help you through such problems.
The firm is also equipped with Board Certified Tax Attorneys for those cases that warrant such representation.
Here is how simple the process works at Fresh Start Tax:
* We make sure all your back tax returns have been filed with the IRS or the State
* Fresh Start Tax will contact the IRS or the Department of Revenue (DOR) with a power of attorney so you never have to speak with the IRS or the State on these back tax issues
* We will provide the information necessary to prepare an IRS Form 433-A or 433-F, Collection Information Statement, or the required forms requested by the State
* We package the documentation, send it to the IRS or the State, and immediately request the closure of your case after we reach a settlement.
Why will the IRS or the State work better with a professional company than yourself alone?
* Professionals know what the government agencies is looking for
* Professionals know the exact packaging required
* Professionals know the applicable standards necessary to close and bring cases to a quick resolution
Fresh Start Tax has a professional team that has over 100 years of tax experience collectively. We have Board Certified Tax Attorneys, CPAs, former IRS Agents and instructors and former State Managers as well. Do not trust your future to just anyone. We are simply the best.
Please check out one of the best websites in the business and feel free to send your questions to us. Also, we never have had a complaint filed against our company.
www.freshstarttax.com 1-866-700-1040 skype password: Freshstarttax
by steve | Jul 20, 2010 | IRS Tax Advice
Let Fresh Start Tax get you a Streamline Installment Agreement today.
Call 1.866.700.1040
The Streamline payment agreement from the Internal Revenue Service is a payment agreement option that is the very best opportunity for some taxpayers to get an accepted payment agreement without a lot of hassle.
A Streamlined Installment Agreement is when $25,000 is owed to the IRS, including all penalties and interest. The reason they are termed “streamlined agreements” is because it does not require verification of financial assets, expenses and income, and other documentation like Form 433-A or 433-F (Collection Information Statement). This repayment payment plan period is usually over 5 years, or 60 months. Again, to calculate your minimum payment plan, take the total taxes you owe plus penalties and interest, and divide that by 50 months. This will give you your monthly minimum payment. The calculation uses 50 months to make way for interest to be paid off in the last 10 months. Interest incurred is the reason why you want to pay off your balance in the shortest amount of months. The faster you pay it off, the less interest is charged.
The Internal Revenue Service has some General Requirements
The requirements for a Streamline Payment Agreement are as follows:
1. A $52 application fee. This fee is normally taken from your first monthly payment, so you need to make sure your first payment covers the application fee. If you pay by check or money order, then the application fee is $105. It costs $45 to reinstate or modify an existing installment agreement.
2. All tax returns must be filed before an installment agreement will be accepted.
3. You must owe less than $25,000, including assessed penalties and interest.
4. You must be willing to make monthly payments over a period of no more than 5 years or 60 months.
5. You must not have entered into any previous Installment Agreements over the last 5 years (including your spouse if filing jointly). The IRS will do a thorough check on this issue.
Let our team of Board Certified Tax Attorneys, CPAs, enrolled agents and former IRS instructors get your nightmare resolved right now. These Streamline Installment Agreements are flat fee billed and are some of the most economical in the industry.
Contact Information 1-866-700-1040
www.freshstarttax.com
Skype us at; freshstarttax
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
by steve | Jun 2, 2010 | IRS Tax Advice
IRS Liens Can and Will Demolish Your Good Credit and Borrowing Capacity!
By Internal Revenue Service filing federal tax liens ( FTL ), the IRS can make your life absolutely miserable.
Federal Tax Liens are filed in the public records in the courthouse nearest your residence. The federal tax lien will indicate you owe the IRS various federal business or individual taxes . They are filed with the County Clerk in the county from which you or your business operates or your principle residence
Because they are public records they will show up on all your credit report. This often makes it difficult or impossible for a taxpayer or the business to obtain any financing, even for an automobile, home, or other lending opportunities.
In addition, Federal Tax Liens can tie up your personal property and real estate. It is like IRS has a mortgage on the property. Once a Federal Tax Lien is filed against your property, you cannot sell or transfer the property without having the lien removed so that you can transfer a clear title. The federal tax lien will have to be released for any sale to take place.
Taxpayers find themselves in a no win situation where they have property against which they would like to borrow but, because of the Federal Tax Lien, they cannot use it as collateral to back up a loan.
Generally the only ways federal tax liens can be released are by full pay, accepted and paid Offer in compromise or the statue of limitation has expired on the tax years. Contact us so we can help you through this problem. As a side note, your beacon score on your credit report will drop about 100 points. The federal tax lien has a devastating effect.
