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If You Owe IRS Back Taxes + Get Rid Your Tax Problem For Good, WHAT ARE YOU WAITING FOR?

by | Oct 24, 2018 | Tax Help

Fresh Start Tax

As a former IRS agent I can tell you many taxpayers are like ostriches, they hide their head in the sand hoping the IRS will lose your case file.

I can tell you that will never happen. At some point in time if you owe back taxes you will have to deal with your IRS problem.

 

If this is the case it’s best to be assertive, have a definitive plan and hire a true tax professional who can handle the problem so you can move on with your life and never have to worry about the mail, knock on the door, a levy at the bank, or your wages gone at work.

The bottom line is, IRS isn’t going away. You have to make them go away.

 

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 , more attention is given to taxpayers who owe larger dollars to the IRS.

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. Sometimes the IRS may ask for a form 433F.

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. This current financial statement is the key to working your case and the key to success.

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 to 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.Like I said before this is a critical form that IRS is using to determine the outcome of your case.

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.

 

If You Owe IRS Back Taxes Deal With Your Tax Problem For Good, WHAT ARE YOU WAITING FOR?

IRS Tax Debt Relief, IRS Lawyers, Tax Attorneys, Former IRS – Affordable – Costa Mesa, Newport, Glendale, Orange, Irvine, Long Beach Anaheim, Fullerton – IRS Tax Debt Relief Experts

by | Nov 27, 2012 | California Tax, IRS Tax Debt, Tax Lawyer

Mike SullivanIRS Debt Relief, IRS Lawyers, Attorneys, Former IRS – Affordable

We are comprised of Tax Lawyers, Tax Attorneys, CPA’s and Former IRS Agents who specialize in IRS Tax Debt Relief.

With over 205 years of professional tax experience and over 60 years with the IRS we are one of the most experienced professional local tax firms.

We handle any IRS or State Tax Problem that you have. All work is done in house. We have worked thousands of cases and we are A plus rated by the Better Business Bureau.

Fresh Start Tax LLC
1901 Newport Boulevard
Suite 350
Costa Mesa, CA 92627
866-700-1040

IRS Tax Debt Relief.

There are many ways to deal with your IRS Tax Debt. Everything depends on only one thing, your current financial statement.

IRS requires a fully documented financial statement. You can find that on our website. If you go to our home page and click on IRS forms you will find one of two financial statement that the IRS uses.

IRS will either require a form 433A or a 433F

The 433 A is used by local Revenue Officers and the 433F are used by ASC Units at service centers.

IRS will expect the financial statements fully documented with all income and expense documents for the last 6 months.

After a carefully revenue by a Revenue Officer or a Tax Examiner the IRS will place your case in one of three settlement type programs.

IRS will consider a :

1. Offer in Compromise in which you have the ability to settle for pennies on a dollar,

2. IRS may consider a current tax hardship based on your  inability to pay anything at this current time,

3. IRS may consider a payment plan or a installment agreement.

Things to be aware of:

a. all your tax returns must be filed and up to date,

b. IRS may elect to file a federal tax lien,

c. IRS will check to make sure you have enough current withholding being taken out to cover this years taxes,

d. IRS will expect you or a tax professional to call them and explain all documentation.

IRS wants to close your case off of the CADE 2 computer system. Most professional firms can do this with one phone call.

You can get IRS off your back by chasing the right tax firm.

Call us today and you will never have to speak to the IRS.

All consultations of free and you will speak directly to a true tax professional.

With the inception of the new Fresh Start Program IRS is accepting Offers in Compromise as Tax Debt Relief.
The IRS Fresh Start Program or Initiative.
In its latest effort to help struggling taxpayers, the Internal Revenue Service announced a series of new steps to help people get a fresh start with their tax liabilities.

The goal is to help individuals and small businesses meet their tax obligations, without adding unnecessary burden to taxpayers.

Specifically, the IRS is announcing new policies and programs to help taxpayers pay back taxes and avoid tax liens.

The Fresh Start announcement centers on the IRS making important changes to its lien filing practices that will lessen the negative impact on taxpayers.

The changes include:

1.   Significantly increasing the dollar threshold when liens are generally issued, resulting in fewer tax liens,
2.   Making it easier for taxpayers to obtain lien withdrawals after paying a tax bill.
3.   Withdrawing liens in most cases where a taxpayer enters into a Direct Debit

Installment Agreement.
a.   Creating easier access to Installment Agreements for more struggling small businesses.
b.  Expanding a streamlined Offer in Compromise program to cover more taxpayers.

IRS Tax Debt Relief, IRS Lawyers, Tax Attorneys, Former IRS – Affordable

Call today and let our Tax Attorneys, Tax Lawyers and Former IRS agents get you tax relief TODAY.

We are the affordable solution. 1-866-700-1040.

 

IRS Debt Relief – Jacksonville – Professional Specialty IRS Tax Firm “A” Rated BBB, Since 1982

by | Mar 12, 2011 | IRS Tax Advice, Tax News

Fresh Start Tax         “A” Rated by the Better Business Bureau       A Florida Professional Tax Firm practicing in the State of Florida since 1982.     We are an Expert IRS Tax Firm specializing in IRS Tax Debt Relief.

Why are we the premier IRS Debt Relief Company?

We are the most experienced and trusted tax firm.

We are comprised of Board Certified Tax Attorneys, CPA’s and Former IRS Agents, Managers and Instructors who worked for the IRS in the Florida IRS offices on the district and regional level for over 60 years. No firm has more IRS tax experience than Fresh Start Tax LLC.


How we work your case to immediately resolve your IRS matter:IRS Tax Debt Relief

1. We immediately send a power of attorney to the IRS letting them know we are now your representative. You will never have to speak to the IRS.

2. We will make sure your tax returns are filed and current. If your tax returns are not up to date, IRS will refuse to work your case. This is leverage that the IRS uses to get you compliant. We can pull tax transcripts, file and prepare your tax returns within days.

3. IRS requires a current financial statement. We will secure a required 433-F (IRS financial statement), verify the income and expenses and work out a settlement agreement. IRS will require a closing settlement method for each case.

4. Settlement agreements can be in different forms:

a. Hardship Settlements. Cases usually go into a 3 year suspended status because of an inability to pay. This is  also called currently noncollectable. Your case will go into a hardship status  because you do not have the income coming in to met your current expenses. IRS will use the National Standards Program to assess hardship.

b. Payment Agreements.  Cases can be closed with agreed upon monthly installment payments to the IRS. We will review the different programs IRS uses for the lowest possible amount required.

c. Offer in Compromise. There are three types of OICs:

 

1. Doubt as to Collectibility – Doubt exists that the taxpayer could ever pay the full amount of tax liability owed within the remainder of the statutory period for collection.

2. Doubt as to Liability – A legitimate doubt exists that the assessed tax liability is correct.

3. Effective Tax Administration – There is no doubt that the tax is correct and there is potential to collect the full amount of the tax owed, but an exceptional circumstance exists.


Call us for a free tax consultation. Free video conferencing is also available.