by Fresh Start Tax | Nov 26, 2012 | IRS Notice or Letter, Tax Help
IRS Tax Notices Help, Settlements – Notice CP-501
Do not be stressed, call us for a no cost consult 1-866-700-1040.
Fresh Start Tax L.L.C. is comprised of Tax Attorneys, Tax Lawyers, CPA’s and Former IRS agents, managers and instructors. We have over 206 years of IRS tax experience and over 60 years of direct IRS work experience in the local, district and regional offices of the IRS.
Being Former IRS Agents we know all the tax policies and positions of the IRS. We can get you tax relief today.
If you cannot pay the liability in full contact us today and we can go over your options to stop the IRS.
IRS has three different programs to deal with unpaid taxes.
IRS can either place your case in hardship, accept payment or considering settling your case with a offer in compromise of a tax debt settlement.
Call us today and we will review your case for no charge and go over different tax options.
The IRS Collection Process.
Once a taxpayer or business owes funds to the IRS it sends out a series of collection notices. These notices are CP-14. Notice CP-501, Notice CP-503, Notice CP 504. Each of these notices go out in a 5 week billing cycle.
You must make sure you call IRS early on in the process to stop enforcement action. If you do not respond to the IRS after the CP 504 you can expect a bank or wage levy coming your way.
The CP-501
Notice is a first bill notice simply letting you know that money is owed to the IRS. The IRS will give you a pay of date to pay the tax. It is best if you have the funds to pay the tax off in full.
The second notice you will receive is the CP 501
The CP-501.
The Bill will look just like this.
Reading your notice
Your notice may look different from the sample because the information contained in your notice is tailored to your situation.
Notice CP501, Page 1
Notice CP501, Page 2
Notice CP501, Page 3
Notice CP501, Page 4
by Fresh Start Tax | Sep 9, 2012 | FBAR, IRS Penalties, IRS Tax Debt, Tax Lawyer
IRS has fallen in love with FBAR. And why not. 33,000 taxpayers came forward since the dominos fell with UBS and the IRS collected a whopping $5.5 billion in tax, penalties and interest.
IRS will just get tough on FBAR filing. IRS is usually very patient but as programs develop and the word gets out to the public their patience leaves.
But with the advent of UBS and all the press and noise surrounding FBAR it will be tougher and tougher to get penalties and interest abated.
In my own opinion, IRS has been very reasonable with FBAR penalties but the time is coming when taxpayers will have to pay the fiddler on late FBAR filings.
If you are looking to get your penalties and interest abated or removed here are some of the common grounds for abatement:
FBAR and reasonable cause. IRS will consider your:
a. Your compliance history with FBAR and your filing history over the past 7 years,
b. The length of time between your failure to meet your tax obligations and your subsequent compliance, ( did you file as soon as you found out about the issue )
c.Circumstances beyond your control such as health, medical, reasonable business standard,
d. FBAR reasonable cause may be established if you show that you were not aware of specific obligations,
e.Your education level, the higher the education the tough IRS will become,
f.Whether you have previously been subject to the tax for FBAR reporting,
g.Whether you have been penalized before on this same or a similar issue,
h.Whether or not there were recent changes in the tax forms or law that you could not reasonably be expected to know such as the passing of a new law,
i.The level of complexity of a tax or compliance issue,
j. Reliance upon the advice of a professional tax adviser who was informed of the existence of the foreign financial account and do you have written documentation of the event,
k.Evidence that the foreign account ( financial accounts ) was established for a legitimate purpose.
l.Evidence that there was no effort to intentionally conceal or hide the reporting of income or assets or other.
m. Special cause. Each case is based on its own set of facts.
No one single factor will determine reasonable cause and no one case is the same. Each case if based on its own set of facts. Being Former IRS agents we know all the inside information on penalty abatement’s.
Call us today to find out more and see how much we may be able to save you. 1-866-700-1040.
by Fresh Start Tax | Aug 22, 2012 | Florida Sales Tax, Sales Tax, Tax Lawyer
Florida Sales Tax Attorneys – Local Sales Tax Experts – Tax Audit, Settlements – Florida
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Do you have the following situation?
1. Owe Sales Tax,
2. have Tax Warrant,
3. been contacted for a Sales Tax Audit or.
4. have a Criminal Investigation that may be getting started or ongoing ?
We handle all aspects of Florida Sales Tax.
Call us today for a no cost professional tax consultation. 1-866-700-1040
We can handle all Sales Tax Audits and provide tax settlements.We are a full service tax firm. We have a “A” rating with the BBB.
We are comprised of Tax Attorneys, CPA’s and Former IRS Agents. We have over 205 years of professional tax experience and over 60 years of direct work experience at the IRS in the local, district and regional office. We are Sales Tax Experts.
The most frequently asked question.
How and why are Taxpayers Selected for Audit?
The methods for selecting a business or individual to audit vary from tax to tax. Here are some examples of sources we use to identify a potential audit candidate:
1. Internal Revenue Service information.
2. Information sharing programs with other states and state agencies.
3. Computer-based random selection.
4. Analysis of Florida tax return information.
5. Business publications, periodicals, journals, and directories.
Call us today for a no cost professional tax consultation and speak directly to a Sales Tax Experts. Tax Attorneys, CPA’s and Former Agents on staff.
by Fresh Start Tax | Jul 25, 2012 | FBAR, IRS Tax Problem, Tax Help, Tax Lawyer, Tax Settlements
Have Former IRS Agents and Tax Attorneys who taught Tax Law help with any FBAR issues you may have.
We know the IRS tax policies and settlement procedures.
India – FBAR Tax issues, resolutions and negotiations. We handle all criminal and civil cases. Let us take away your fear, anxiety or worry today.
Let our years at the IRS ease any discomfort about this issue. We taught Tax Law at the IRS and know the system.
Call us for a no cost professional tax consultation and speak directly to Expert FBAR Tax Attorneys, Lawyers, CPAs or Former IRS agents. 1-866-700-1040.
We are FBAR tax experts and provide Worldwide tax help for anyone seeking FBAR tax relief.
We have over 206 years of professional tax experience and over 60 years of working directly for the IRS.
If you are living an India and have any potential issues or the IRS has already contacted you call us today.
FBAR Filing Criteria as defined by the Internal Revenue Service.
In order to determine whether or not the FBAR is required, ALL of the following must apply:
1. The filer is a United States person;
2. The U.S. person has a financial account(s);
3. The financial account is in a foreign country ( India );
4. The U.S. person has a financial interest in the account or signature or other authority over the foreign financial account; and,
The aggregate amount(s) in the account(s) valued in dollars exceed $10,000 at any time during the calendar year. most individuals forget about the aggregate amount and this can lead to problems.
What is defined as a Financial Account by the IRS.
1. Bank accounts, such as a savings, demand, checking, deposit, time deposit, or any other account maintained with a financial institution or other person engaged in the business of a financial institution.
2.A bank account set up to secure a credit card account is an example of a financial account. An insurance policy having a cash surrender value is an example of a financial account.
3.Securities, securities derivatives, or other financial instruments account are also financial accounts.
4.Individual bonds, notes, or stock certificates held by the filer are not a financial account.
FBAR – INDIA – IRS FBAR Experts – Tax Attorneys, Lawyers, Former IRS – FBAR Help, Problems, Settlements
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by Fresh Start Tax | Jul 23, 2012 | FBAR, Tax Lawyer
We are FBAR Tax Experts. Attorneys, Lawyers and Former IRS Agents who know the system and techniques of FBAR cases.
We are comprised of Board Certified Tax Attorneys, Tax Lawyers, CPAs, and former IRS agents, managers and instructors. We taught IRS Tax Law.
We have a combined 205 years of professional tax experience and over 60 years with the IRS.
We handle all FBAR resolutions and FBAR tax settlements.
The specific reason you would use our firm is simply this, we taught Tax Law at the IRS and know their settlement techniques and tax policies to settle and manage cases.
Few professional tax firms have any direct IRS expertise or experience.
What is going on with FBAR.
There is absolutely no question that the Federal Government will be in full engagement for FBAR tax cases. With the IRS collecting over $5.2 Billion in their overseas operations on last count, this three year program has yielded tremendous benefits from very wealthy taxpayers. The IRS has found a huge revenue source without raising taxes.
Coupled with the fear of criminal prosecution, makes FBAR a win-win for the IRS.
Under the new budget guidelines for the upcoming year the IRS was awarded $500 Million to sure up there compliance programs and the FBAR Program is a high priority target for the IRS.
What is the FBAR Filing Criteria
In order to determine whether or not the FBAR is required, all of the following must apply:
1. The filer is a U.S. person;
2. The U.S. person has a financial account(s);
3. The financial account is in a foreign country;
4. The U.S. person has a financial interest in the account or signature or other authority over the foreign financial account; and,
5. The aggregate amount(s) in the account(s) valued in dollars exceed $10,000 at any time during the calendar year.
If you need any questions answered call us for a no cost professional tax consult. 1-866-700-1040.
You can request attorney client privilege if necessary.
Get of hold of IRS before they get a hold of you.
FBAR Tax Attorneys, Tax Lawyers, FBAR Resolution, Settlements, Former IRS, FBAR Problem Experts
