by Fresh Start Tax | Jul 17, 2014 | Tax Help
Former IRS agents know every possible way to resolve your problem. Since 1982.
If you owe back taxes to the Internal Revenue Service or you want to rectify an IRS problem contact us today have former IRS agents go over every possible affordable solution.
As a general rule three options are available.
The Internal Revenue Service will either accept the payment plan, declare you to be uncollectible and they and put you in current hardship with the Internal Revenue Service or they may accept an offer in compromise so you can pay pennies on the dollar. A
Any time you owe the Internal Revenue Service back taxes they will take the current financial statement on form 433-F.
After the Internal Revenue Service verifies the accuracy of your financial statement they will make a determination how they will close your case off the IRS enforcement computer.
It is very important to have a true tax professional negotiate your settlement with the Internal Revenue Service to ensure that you are settling your case in a way that reflects your current financial condition.
If you need a file back tax returns we can do so with or without records.
Being former IRS agents we are experts in tax reconstruction and we can go ahead and not only file your back tax returns would settle your case is well.
If you are going all money to the Internal Revenue Service we can either work out an IRS payment plan or find out if you can settle your case for pennies on a dollar by preparing and submitting an offer in compromise.
Over 38% of all offers in compromise are accepted by the Internal Revenue Service and settled for $.14 on a dollar.
When you call our office today we’ll find out what program you qualify for.
We can offer every affordable IRS solution to remedy your case today.
We are A+ rated by the Better Business Bureau.
IRS – Owe Back Taxes, File Back Tax Returns, IRS Payment Plans – Affordable Solutions – Pearland, Galveston, Baytown, Seabrook
by steve | Nov 21, 2011 | IRS Payment Plans
Start Tax LLC Since 1982 Affordable IRS Payment Plans from true IRS Tax Experts Rated “A” by the Better Business Bureau
Have Former IRS Agents and Managers get you the agreement you want today. Over 60 years of working experience in the South Florida IRS Offices as Agents and Managers.
If you need a IRS Payment Plan or a Installment Agreement call us today 1-866-700-1040. We are local and we are tax experts.
Get an approved IRS Payment Plan today!
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by steve | Nov 18, 2011 | IRS Payment Plans
Fresh Start Tax LLC Since 1982 A Professional Tax Firm “A” Rated by the Better Business Bureau
Former IRS Agents and Managers know all of the IRS techniques and IRS procedures. Do not let the IRS kill you. Call for a no cost review 1-866-700-1040 . We can stop the IRS today!
Over 25 million taxpayers last year received billing notices from the IRS. That is certainly a record number mostly due to the turn in the economy and the effects of a depressed market conditions.
With that said, many taxpayers are stuck with tax bills that they cannot afford to make. There are several solutions available for taxpayer looking for payment options for back IRS taxes.
The IRS has announced an effort to help struggling taxpayers get a fresh start with their tax liabilities.
The goal of this effort is to help individuals and small business meet their tax obligations, without adding unnecessary burden. Specifically, the IRS has announced new policies and programs to help taxpayers pay back taxes, avoid tax liens and federal tax levies or tax garnishments.
Some Tax Tips for those who need payment options for back taxes:
1. Additional time to pay is based on your individual circumstances, you may be granted a short time to pay your tax in full or enter into a long payment plan with the IRS. Your current financial statement will dictate that.
2. You may request an installment agreement if you cannot pay the liability in full. This is an agreement between you and the IRS to pay the amount due in monthly installment payments. You must first file all required returns and be current with estimated tax payments. If you are not current with your tax filing IRS will not accept a payment plan or any Payment Option.
3. If you owe $25,000 or less in combined tax, penalties and interest, you can request a streamline installment agreement through Fresh Start Tax LLC. We can usually get these in 24 hours.
4. You may still qualify for an installment agreement if you owe more than $25,000, but you are required to complete a Form 433F, Collection Information Statement, before the IRS will consider an installment agreement. The 433F must be completely documented in regards to income and assets. IRS will also require pay stubs and bank statements.
5. If an installment agreement is approved, a one-time user fee will be charged. The user fee for a new agreement is $105 or $52 for agreements where payments are deducted directly from your bank account. For eligible individuals with lower incomes, the fee can be reduced to $43.
6. If you have a balance due you may want to consider changing your W-4 Employee’s Withholding Allowance Certificate with your employer so the problem does not happen again.
Call us today 1-866-700-1040 . We are true Affordable IRS Tax Experts
by steve | Jun 18, 2011 | IRS Tax Advice, Tax News
Fresh Start Tax LLC A Professional Tax Firm with a Nation Wide Tax Practice “A” Rated by the Better Business Bureau Since 1982
Most of the individual and businesses that Fresh Start Tax LLC deals with cannot full pay their back tax liability and payments must be made to the Internal Revenue Service.
There are different option available to the taxpayers depending on the facts, circumstances and the dollar amount owed on each and every case.
Please note all tax returns need to be filed and up to date.
By calling our office or setting up a free phone interview or free consultation we can discuss with you the best settlement option to relieve you of your tax problems
Different types of Internal revenue Service Payment Options:
1.Guaranteed Agreement Payment
This pay agreement with the Internal Revenue Service is available to individual taxpayers only who owe less than $10,000, are not able to pay the liability in full, and have not had an Installment Agreement under this provision or allowance within the last (5) five years. You must be able to satisfy the tax liability in three years. No financial statement is required, although the IRS may request one. This agreement applies to income tax or unpaid out of business employment taxes only. If the case is in the local branch office and a Revenue Officer is assigned to the case, the IRS Agent usually will request a 433A financial statement.
2 Streamlined Agreement Payment ( under $25,000 )
This type of Installment Agreement is available to taxpayers who owe less than $25,000 and are not able to pay the full amount. The taxpayer must also agree to completely satisfy the liability and keep all other taxes current over the five-year term of the agreement. As with the guaranteed agreement, financial information is usually not required and the agreement applies to income tax or out of business employment taxes only. See above statement for cases being in the local IRS office.
3. High Dollar Agreement Payments ( over $25,000 )
This agreement is designed for taxpayers who owe more than $25,000 and are not able to pay the liability in full. The IRS understands that you may need more time than is allowed under the guaranteed or streamlined agreement programs. Under the high dollar plan, you must agree to fully satisfy your liability prior to the expiration of the statue of limitations( statutes are usually 10 years from the dates of assessment) or agree to a one-time extension of the statute of limitations for up to five additional years, as well as to keep all taxes current in the interim. High dollar installment agreements require a full and complete financial disclosure. The taxpayer will have to complete a 433F or a 433A. If the taxpayer is a corporation, the IRS will require complete financial disclosures from all officers and some employees of the company. Documentation will be required on all financial statements.
4. Partial Payment Agreement
Under this plan, the IRS agrees to accept installment payments that will result in a partial payment of the tax liability. To qualify for a Partial Payment Installment Agreement (PPIA), you must provide complete financial information that will be reviewed and verified. You will also be required to address equity in assets that can be utilized to reduce the outstanding liability.
If you are granted a Partial Payment Plan Agreement, you will be subject to a financial review every two years for the duration of the agreement. If your financial condition has improved, the amount of your payments could increase or the agreement could be terminated. If your financial condition has deteriorated, the amount of your payments could be decreased.
IRS may review these cases whenever they wish and usually they place a mandatory follow up review date ensuring the case will come back out to the field in the future.
Should you have any questions please call Fresh Start Tax LLC today for a free phone or video consultation.
