by Fresh Start Tax | Nov 29, 2018 | Tax Help
If you have any problem with the Internal Revenue Service it only makes sense to hire former IRS agents who know the system.
Since 1982, we have been practicing IRS tax debt relief services in South Florida.
Our firm has over 100 years of direct IRS work experience in the local, district and regional offices in Florida, and our staff is composed of former IRS agents, supervisors, managers, and teaching instructors.
As a result of all our knowledge, we know all the systems, methodologies, and every possible way possible to get you the fastest, most affordable, and the most effective IRS tax debt relief possible.
IRS deals with billions of dollars of tax debt on any given calendar year.
IRS has a very specific system that is used, that is a nationwide and/or worldwide system to deal with IRS tax debt.
HOW IRS WORKS TAX DEBT CASES
When dealing with a taxpayer who owes back taxes, one of the first things IRS does when they work a case is to conduct a full compliance check.
A full compliance check means that the IRS will check on the filing statuses of every year to make sure you are in full compliance and they will request and mandate that all tax returns are on the IRS system before they will close your case off the enforcement computer.
If you have not filed all tax returns we can file all back tax returns and make sure you pay the lowest amount of tax by law. With or without tax records we can reconstruct your tax return because being former IRS agents we know the system. You should also know that if you have not filed for many back years IRS will only require filing of the last six years.
In some cases you can make an IRS payment agreement online if you meet the various requirements that IRS has. When you call our office we will let you know whether you qualify for an installment payment online.
For those of you who do not qualify for an online payment the Internal Revenue Service will require a current financial statement.
As a general rule, those financial statements will be on a form 433F, 433A.
If the cases at the service center the service center will request the F and if it is in the local office they will require the A. The Internal Revenue Service will a current financial statement fully documented along with bank statements, pay stubs, and copies of all expenses.
IRS will look to see if you have any assets that you can liquidate to pay in full and if that cannot be done there are two other options.
The first is the payment agreement and the second, you can be deemed currently not collectible and IRS can put you in a hardship status if you are truly having a financial hardship in your life.
Some taxpayers can qualify for an offer in compromise which they can settle their debt for pennies on a dollar.
Upon calling our office we first try to find out if you can settle your debt to completely extinguish the liability.
The offer in compromise is the very best way to completely take care of your IRS debt. There are very specific formulas to settle your debt and we make sure you are a qualified candidate to settle your IRS debt before taking any money and working your case. C
Call us today for a free initial tax consultation and we will let you know the best possible status given your current financial statement.
We are a full-service firm we can prepare all back tax returns, settle your case if necessary, and we can go to appeals if necessary.
When you call our office, you will speak to a true IRS tax expert and not a salesperson like most companies.
We are a nationwide tax firm that does work not only in these United States but all over the world for any US citizen or any person that owes taxes to the United States Department of the Treasury.
We look forward to hearing from you.
Please feel free to come by our South Florida offices, call us or Skype us today. we are the fast friendly and affordable professional tax firm.
IRS Tax Debt Relief Service For Back Taxes + What You Need Know, Former IRS = Ft.Lauderdale, Miami, Boca Raton, Palm Beaches
by Fresh Start Tax | Nov 1, 2018 | Tax Help
As a former IRS agent and teaching instructor and a national expert, I am asked this question hundreds of times a year,” Will IRS settle for pennies on the dollar?”
The answer flat out is yes, but you better read the rest of the story.
For the record, we are a local South Florida tax firm that has been practicing since 1982 are former IRS agents worked out of the South Florida IRS offices.
There are hundreds or maybe a thousand firms promising IRS will settle your tax debt for pennies on the dollar. I’m trying to warn the general public not to be ripped off.
Most firms want you to believe immediately there is a tax debt settlement in your future and that’s why they charge larger monies larger retainers all for the promise of settlement.
There are many scrupulous companies out there that simply take your money and you have a case that has no chance of settlement.
I know because I receive hundreds of calls a year about tax resolution firms that take money from suspecting taxpayers hoping to settle their debt only to find out they have been ripped off.
Make sure this does not happen to you.
A simple call to our office, free tax consultation, will tell you the truth about is the offer in compromise program right for you. IRS has strict rules about an IRS tax debt settlement.
Just so you know the answer to the initial question, how much will IRS take for an offer in compromise, there is no set standard amount of what the IRS will accept for your offer in compromise to settle your tax debt, it is all decided by formula.
And there is a very exacting settlement formula to settle your tax debt for pennies on the dollar.
When you call us today will explain that formula to you. As a general rule IRS is looking for your current income expenses and your assets. IRS doesn’t much care for most of your liability including credit cards and debt to other parties IRS is mainly looking for asset-based areas and where they can collect the back tax.
Also it is very important to remember all your tax returns must be filed and on the IRS system before IRS will accept the offer in compromise.
If you want to know the truth about the offer in compromise program I am the person you need to speak to. Since 1982.
I am a former IRS agent and teaching instructor with my former boss of the offer in compromise program.
I know the system inside and out I worked it I’ve trained others and have accepted offers in compromise for the federal government. I’m a true IRS tax expert on the offer in compromise.
I am a true IRS tax expert, national speaker, and have been on FOXBusiness news and other outlets speaking about different matters about Internal Revenue Service.
There are many myths about the offer in compromise program.
There are strict standards that the IRS employee before they accept an offer in compromise. I know because I’ve both accepted offers in compromise taught new employees to accept the offer in compromise or reject them and I know the system inside and out.
I suggest that every client or taxpayer before they file an offer in compromise either do one of two things.
Number one, call a true tax expert who knows the offer in compromise inside out or number two, to fill out the IRS pre-qualifier tool for the offer in compromise.
If you’re calling a professional firm you want to make sure the representative has at least filed 100 offers.
It takes a lot of experience and knowledge to get an offer in compromise through. some are very simple and don’t need a lot of experience while others demand. expertise skill level.
The Internal Revenue Service spends several hours, much more than you think to accept an offer in compromise. As a general rule, the average agent can spend between 20 to 40 hours to accept an offer in compromise.
After that takes place, the revenue officer must convince their local supervisor, the area manager, and the General Counsel of Internal Revenue Service to accept the offer.
It literally goes back and forth in the system. Some exceptions do exist. Dollar amount has a lot to do in the direction your offer will take.
Why? because all offers and compromise are a matter of public record.
That public record is available at eight regional IRS offices in the United States.
Even though offers are open to public inspection only one person last year looked through the IRS offers in compromise files.
IRS is not made electronic copies for review. knowing that these files are public record believe it or not only one person last year visited a regional office to review the offer in compromise. This year no one has been to an office.
There is a base rule for Internal Revenue Service accepting an offer in compromise.
You must give IRS the total equity in all your assets before IRS will consider or contemplate the acceptance. Some exceptions exist, assets consist of houses, pension plans, stock, business valuations, IRS wants to make sure you’re actually borrowing the money to settle.
If you are interested in filing an offer in compromise you can call us today for a free initial tax consultation and I will walk you through the process of the true IRS debt settlement called the offer in compromise.
Offer in Compromise FACTS:
IRS last year accepted approximately 30,000 offers in compromise in approximately 75,000 were accepted. The average settlement was $9500.
Don’t let this average settlement fool you, it’s based on an average of all the offers accepted.
Offers in compromise are excepted by formula not by judgment.
The basic formula are the total value of your assets times what you have left over a month on a current income and expense statement times the number of months left in the statute. Some exceptions do apply.
Due diligence that can be used by IRS. The dollar of your case drives the due diligence.
You want to make sure your financial statement is accurate.
IRS has a host of web-based tools that can search your assets, places were you work, your income, your real estate records, your car records, your business records, insurance records , financial statement you’ve given institutions, credit reports and financial statements you’ve given the credit companies.
The amount of due diligence that the IRS spends working on cases depend strictly on the dollar amount of the tax debt. If you over hundred thousand dollars IRS spends a great deal more honor offer case.
Make sure you are very honest in the submission of your offer in compromise
So. what is an offer in compromise, a tax debt settlement
An offer in compromise allows you to settle your tax debt for less than the full amount you owe.
It may be a legitimate option if you can’t pay your full tax liability, or doing so creates a financial hardship.
IRS consider your unique set of facts and circumstances:
• Ability to pay;
• Income;
• Expenses; and
• Asset equity.
IRS generally approve an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time.
The Offer in Compromise program is not for everyone.
If you hire a tax professional to help you file an offer, be sure to check his or her qualifications.
Make sure you are eligible to file:
Before IRS can consider your offer, you must be current with all filing and payment requirements.
You are not eligible if you are in an open bankruptcy proceeding.
Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.
You’ll find step-by-step instructions and all the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B (PDF). Your completed offer package will include:
• Form 433-A (OIC) (individuals) or 433-B (OIC) (businesses) and all required documentation as specified on the forms;
• Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;
• $186 application fee (non-refundable); and
• Initial payment (non-refundable) for each Form 656.
Select a payment option for the IRS:
Your initial payment will vary based on your offer and the payment option you choose:
• Lump Sum Cash:
Submit an initial payment of 20 percent of the total offer amount with your application. If your offer is accepted, you will receive written confirmation. Any remaining balance due on the offer is paid in five or fewer payments.
• Periodic Payment:
Submit your initial payment with your application. Continue to pay the remaining balance in monthly installments while the IRS considers your offer. If accepted, continue to pay monthly until it is paid in full.
If you meet the Low Income Certification guidelines, you do not have to send the application fee or the initial payment and you will not need to make monthly installments during the evaluation of your offer. See your application package for details.
Understand the process of the OIC
While your offer is being evaluated there are specific rules and guidelines:
• Your non-refundable payments and fees will be applied to the tax liability (you may designate payments to a specific tax year and tax debt);
• A Notice of Federal Tax Lien may be filed;
• Other collection activities are suspended;
• The legal assessment and collection period is extended;
• Make all required payments associated with your offer;
• You are not required to make payments on an existing installment agreement; and
• Your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.
If your offer is accepted: your blessed
• You must meet all the Offer Terms listed in Section 8 of Form 656, including filing all required tax returns and making all payments;
• Any refunds due within the calendar year in which your offer is accepted will be applied to your tax debt;
• Federal tax liens are not released until your offer terms are satisfied; and
• Certain offer information is available for public review by requesting a copy of a public inspection file.
If your offer is rejected
• You may appeal a rejection within 30 days using Request for Appeal of Offer in Compromise, Form 13711 (PDF).
If your offer is not accepted this appeal process many times is the best way to settle the tax debt as the appeals division is a little more lenient sometimes than the IRS revenue officer. Don’t be dismayed if your case goes to appeals. Many times the best settlements come while the case is in the Appellate Division.
Call us today for a free initial tax consultation and we will walk you through the system to get your offer in compromise accepted if you are a credible candidate for the program.
We only file offers in compromise if you are a suitable candidates.
Remember, offers in compromises are not for all people.
e your money to any firm unless you speak to the person and you truly understand how IRS will accept your financial statement and accept the offer in compromise.
Offer In Compromise : Will IRS Settle For Pennies on a Dollar * Ask Former IRS Agent + Ft. Lauderdale, Miami, Palm Beaches, Boca Raton, Pompano
Offer In Compromise : Will IRS Settle For Pennies on a Dollar * Ask Former IRS Agent + Ft. Lauderdale, Miami, Palm Beaches, Boca Raton, Pompano Beach
by Fresh Start Tax | Oct 17, 2018 | Tax Help
We are IRS tax experts in IRS debt relief. Since 1982.
Some of our team are former IRS agents and managers who have over 206 years of professional tax experience and over 100 years of working directly for the Internal Revenue Service. We know all the Federal Programs.
Let Us Resolve Tax Debt through New Federal Programs.
As a general rule there are five options you have if you owe back tax debt through Federal Programs.
We are the true tax experts, we have worked thousands of cases.
Being former IRS agents gives us a unique advantage over the competition because we know every system, every strategy and every methodology that IRS can employ.
Use our experience to benefit you.
The general myth that is in the public today is that you can settle for pennies on the dollar.
While that is true you must be a true qualified candidate for the IRS offer in compromise program to settle back tax debt.
So here is the process to determine how you can dispose of an IRS tax debt.
First and foremost the IRS will require a current financial statement and that is generally on a form 433F or 433A depending on where your cases in the IRS system. You can download the forms on our website.
IRS will expect that financial statement to be documented fully including bank statements, pay stubs, copy of all expenses and any other document that applies in your particular situation. The Internal Revenue Service conducts a mini audit on your financial statement. Since IRS spends so much time reviewing your case using the financial statement we understand the system to put you in the best spotlight with IRS. We spend a lot of time reviewing your financial statement and making adjustments were possible to get you the best result.
Full compliance check.
It is of utmost importance for you to know that the Internal Revenue Service will conduct a full compliance check which means that Internal Revenue Service will make sure all your tax returns are filed, up to date, and you are currently are making estimate payments or have sufficient withholding being taken out in the year you call IRS so you will not incur a problem again. IRS does not like repeat and habitual offenders.
Tax Return Status.
If you have back tax returns that you need to file to get current to comply with the IRS requirements we can have our former IRS agents who know every single tax law option to ensure that you will pay the lowest amount by law file your returns and get them on official record .
Many people say, well I don’t have sufficient records to prepare my tax returns?
That is not a problem for us, we can pull back IRS transcripts to find out what your income for the past six years and we can reconstruct your tax return based on IRS reconstructive methods and still ensure you pay the lowest amount by law.
There are five general options to close out a tax debt case.
1. You can pay the tax liability in full and if you need a couple of weeks or a couple of months IRS will entertain that and allow you time enough to cut them a check. As a general rule we file a power of attorney, speak to the Internal Revenue Service and let them know of the full payment date.
2. You can make a payment plan.
There are various payment plan options available and when you call our office we will review your current financial statement and walk you through the various programs the internal revenue has to pay them.
Payment plans are based on your current financial statement and your ability to pay. IRS will also take an online payment if you meet and fit the criteria.
3. Your case can be put in a currently not collectible or hardship.
If you have more expenses and income and you live the means test of the national standard program , IRS can temporarily suspend your case. That suspension could last one to three years. IRS will re-review the case in a period of time. The downside to this program is that penalties and interest still run, the upside is that IRS is off your back for a period in season of time.
4. You can file a bankruptcy to help stop and delay IRS.
As a general rule chapter 7, Chapter 11, and Chapter 13 may apply to certain cases. We can review those options with you.
5. The statute of limitations.
IRS has 10 years to collect back taxes from the day your taxes as assessed. The day your taxes assessed means the day IRS puts your tax return onto their computer system for the first time. The general statute of limitations runs 10 years from that date of assessment. There are actions that extend the statute of limitations such as filing of a collection due process, bankruptcy, or litigation and there are other factors.
When you use our company you will never have to talk to IRS.
We handle all communication we treat you with dignity respect and most of our clients become more friends.
If you are having a problem paying your back tax debt you can call our office and speak to true IRS tax experts you have over 200 years of direct professional work experience and over 100 years working at Internal Revenue Service.
When you call our office you will speak to true IRS tax experts who have worked thousands of cases.
Let Us Resolve IRS Tax Debt through New Federal Programs + Former IRS Agents