by steve | Sep 28, 2011 | Tax Settlements, Uncategorized
IRS Tax Debt Settlements – Settle for less – IRS Insider
Most people have absolutely know idea about IRS Tax Debt Settlements. People simply hear the commercials about “pennies on a dollar” and they expect a tax settlement from the IRS for cheap. If that were the case, no one would pay their tax and file for Tax Debt Settlements every year.
Sad to say, these taxpayers may spend thousands of dollars to tax companies that will tell them anything to get a check and earn a commission. Even sadder taxpayers will usually speak to sales persons who know absolutely nothing about Offers in Compromise. They simply waste their money. Lat year, IRS accepted 12,000 Offers in Compromise. This was a 25% acceptance rate.
The Offer in Compromise or the Tax Debt Settlement is a work of art to get through the system. Unless you have filed hundreds of Offers and know the system well, most people expecting to get tax settlements through the Offers are absolutely waiting their money.
Fresh Start Tax L.L.C. is one of the premier Tax Resolution Firms in the nation specializing in IRS Tax Debt Settlements. One of the reasons we have such an edge is our experience in dealing with the IRS system. On staff are former IRS Agents / Managers that actually worked the Offer in Compromise Program at the IRS. Not only did we accept Offers at the IRS, we actually taught the Offer Program at the Regional Training Offices.
Settling for cheap is a product of knowing when to file the Offer. Timing is a huge issue. The very best time to file the Offer and settle for cheap is when ALL the following exists:
1. Your income is the lowest.
2. Your necessary expenses are the highest.
3. You have little cash in the bank and have few or no assets.
4. You have to borrow the money to pay off the Offer.
5. You have had your Offer pre-qualified by a tax professional to make sure your Tax Debt Settlement qualifies for a settlement.
Call us today to see if you qualify for a Offer in Compromise.
Our Company Resume: ( Since 1982 )
- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- We taught Tax Law in the IRS Regional Training Center
- Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed and certified to practice in all 50 States
- Nationally Recognized Veteran /Published Former IRS Agent
- Nationally Recognized Published EZINE Tax Expert
- As heard on GRACE 90.3 FM Monthly Radio Show-Business Weekly
See our Home Page for more details Thank you
by steve | Sep 27, 2011 | Tax Levy and Wage Garnishments
Do you need to get a IRS Payment Agreement? Call us today and we can end your worries. 1-866-700-1040 Affordable
Streamlined Installment Agreements
Streamlined installment agreements may be approved for taxpayers under the following circumstances:
1. The aggregate unpaid balance of assessments is $25,000 or less.
2. The unpaid balance of assessments includes tax, assessed penalty and interest, and all other assessments on the tax modules. It does not include accrued penalty and interest.
3. If pre-assessed taxes are included, the pre-assessed liability plus unpaid balance of assessments must be $25,000 or less.
The unpaid balance of assessments will be fully paid in 60 months, or the agreement will be fully paid prior to the CSED, whichever comes first.
Accounts in any status qualify, including:
Notice status accounts;
Balance due status accounts; and
Pre-assessed accounts.
The following types of taxpayers qualify for streamlined agreements:
Individual Accounts
Business Accounts (income tax only); and
Out of business BMF (any type tax).
A lien determination is not required for a streamlined installment agreement but may be made at the discretion of the revenue officer and liens may be filed.
Note:
Per IRM 5.12.2.4 a lien determination is required by a specific date. If the case cannot be closed as a streamlined IA on or before the lien determination date, a lien determination must be made based on the facts of the case. The revenue officer has the latitude to make a timely lien determination as a non-filing or deferral of the lien filing, then finish the negotiation and close the case to a streamlined IA.
No managerial approval is required.
These agreements may be secured in person, by telephone or by correspondence.
As with all agreements, the taxpayer must have filed all tax returns that are due prior to entering into the agreement.
by steve | Sep 7, 2011 | IRS Tax Advice, Tax Levy and Wage Garnishments
I am a former IRS Agent, a Revenue Officer. I also taught Tax Law at the IRS Regional Training Center. I am still an IRS Insider. I still have solid insider sources.
When a taxpayer is faced with the filing of a IRS tax levy whether it be a bank levy or wage garnishment immediate panic sets in and generally taxpayers hurry to take care of the problem as fast as they can. If they do not have a CPA or Tax Attorney, the taxpayer starts hitting the Internet to find out who is the most credible, who they can afford and who can resolve the tax situation the fastest.
You can get immediate tax relief from Bank Levies or Wage Garnishments. You have to call the right Professional Tax Firms.
Here are some very general rules to follow:
1. IRS does not want to levy! They must send out the tax levy because prior notices sent to the taxpayer went unnoticed or were not responded too. Sadly many were sent to the wrong addresses.
2. IRS sends out the wage garnishments and or bank levies to get your attention so they can close their case and tax you off of the IRS receivable computer. This also takes you off the IRS enforcement computer called CADE.
3. As soon as you have filed all your tax returns and given IRS your current financial statement, IRS will close their case and send out your levy releases. A 433F documented will be required to satisfy the IRS.
4. Not only will IRS send out your levy release they will also settle your tax case as well.
5. You should hire a true professional tax firm to handle your situation, it will make a HUGE difference. You will get the results you need from a professional tax firm.
6. In picking out a company for tax representation hire a true professional tax firm one with certified credentials.
7. Beware of tax mills who promise you pennies on a dollar. Only 12,000 settlements take place all year. Most companies promise you the sky actually knowing the case will never be settled.
8. Ask to speak directly to a Tax Attorney, CPA, Former IRS Agent, or Enrolled Agent that is on staff. If you cannot speak directly to this type of tax professional RUN
9. Beware, most of the people you talk to off the Internet are sales people selling your lead information to the highest bidder.
10. Check BBB ratings to ensure the trustworthiness of the firm you are dealing with.
by steve | Mar 22, 2011 | IRS Tax Advice, Tax News
I am a former IRS Revenue Officer and teaching instructor with the Internal Revenue Service. I am also licensed and certified by the department of Professional Regulation to teach IRS Tax Law.
With that said, here are some top tips you need to know about making payments with the IRS.
1. Four million taxpayers are currently using Installment Agreements to pay their IRS taxes. It is the most common way to close your current IRS issue or case.
2. The IRS will want a completed Form 433-A or 433-F, collection information financial statement, with supporting documentation. They will use this to determine if you are eligible for an Installment Agreement and how much your payments will be.
3. An Installment Agreement stops all enforced collection action immediately. It suspends the open case in the IRS enforced collection system.
4. The Installment Agreement allows you to make reasonable and affordable payments to the Internal Revenue Service.
5. The IRS will release any tax levies they may have filed if an Installment Agreement has been reached.
6. The IRS has two types of Installment Agreements, streamline and long-term. The amount owed determines which agreement you are eligible for. Under $25,000 qualifies for the streamline which can be handled over the telephone.
7. An Installment Agreement still allows you to file an Offer in Compromise.
8. With an Installment Agreement, penalties and interest continue to accrue on the total amount due to the IRS.
9. Federal Tax Liens are not released because of Installment Agreements.
10. The Installment Agreement is only a temporary solution. At the end of the day the tax must be paid in full, the statute expires or the IRS accepts an Offer in Compromise to fully close the case off the IRS system.
Always hire a professional tax firm to resolve your IRS Problems and check out their BBB rating.
Things to look for in a good company:
- History of company
- Firm experience
- Do they have former IRS Agents on staff
- Make sure you can directly talk to the person that will work on your case
- Check on their BBB rating. Use only A or better
All the best! <><
