by Fresh Start Tax | Jul 23, 2012 | FBAR, Tax Lawyer
We have a National Tax Practice specializing in FBAR matters world wide. We are comprised of Board Certified Tax Attorneys, Lawyers, CPA’s and Former IRS Agents and Managers.
We have over 205 years of professional tax experience and over 60 years of working directly for the IRS in the local, district and regional offices of the IRS. We also worked in IRS Management.
As a result of our years of direct IRS experience we know all the tax policies, tax procedures, and settlement techniques because of expertise in IRS.
We also taught Tax Law at the IRS. We taught New IRS Agents their craft.
With a National Tax Practice we are licensed to practice anywhere in the world in regard to IRS Tax Matters.
We are directly involved in tax settlements, the filing of back tax returns, negotiations of penalties and interest, offers in compromise and lastly IRS tax audits.
You will never have to speak to the IRS. It is very important for taxpayers to understand it is much better for us or the taxpayer to notify IRS before they notify you the taxpayer.
In cases where the taxpayer made full disclosures few cases were ever brought to CI.
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FBAR also known as Foreign Bank and Financial Accounts:
What is an FBAR? – An FBAR is a Report of Foreign Bank and Financial Accounts. The form number is TD F 90-22.1 (PDF).
Who must file an FBAR? – Any United States person who has a financial interest in or signature authority or other authority over any financial account in a foreign country, if the aggregate value of these accounts exceeds $10,000 at any time during the calendar year.
Call or SKYPE us for a no consult and speak directly to a tax professional.
All conversations can be made if request under attorney client privilege.
by Fresh Start Tax | Jul 20, 2012 | FBAR, Representation, Tax Lawyer, Tax Returns, Tax Settlements
FBAR – Tax Attorneys, Experts in FBAR Representation – Filing, Negotiation, Settlements Former IRS.
Free Tax Consults 1-866-700-1040
We are FBAR Tax Experts. We we staffed with Tax Attorneys, Lawyers, CPA’s and Former IRS agents who have 60 years of direct work experience at the IRS in the local, district and regional offices of the IRS.
We have a total of 205 years of professional tax experience in all areas of the IRS including FBAR Representation, FBAR Filing, FBAR Negotiations, FBAR Tax Audits, FBAR Settlements,
FBAR and what you need to know.
If you have a financial interest in or signature authority over a foreign financial account, including a bank account, brokerage account, mutual fund, trust, or other type of foreign financial account, the Bank Secrecy Act may require you to report the account yearly to the Internal Revenue Service by filing Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR). With Foreign Financial Instructions now reporting to the IRS it is critical to follow up and file your FBAR 90-22.1
The FBAR is required because foreign financial institutions are not usually subject to the same reporting requirements as domestic financial institutions.
The FBAR is a tool to help the United States government identify persons who may be using foreign financial accounts to circumvent, hide, evade or deceive with criminal intent the United States Tax Laws.
The FBAR Program to date has yielded the Federal Government over $5 Billion when over 33,000 persons came forward.
Our Tax Attorneys who are experts in RBAR Representation can steer you away from trouble and worry.
Common Questions ask regarding FBAR.
What happens if an account holder is required to file an FBAR and fails to do so?
The failure to file an FBAR when required to do so can potentially result in civil penalties, criminal penalties or both. If you learn you were required to file FBARs for earlier years, you should file the delinquent FBAR reports and attach a statement explaining why the reports are filed late.
No penalty will be asserted if the IRS determines that the late filings were due to reasonable cause. Keep copies of what you send for your records.
Can cumulative FBAR penalties exceed the amount in a taxpayer’s foreign accounts?
May civil penalties be assessed?
Yes, under the penalty provisions found in 31 U.S.C. 5314(a)(5), it is possible to assert civil penalties for FBAR violations in amounts that exceed the balance in the foreign financial account.
How long should account holders retain records of the foreign accounts?
Records of accounts required to be reported on an FBAR must be retained for a period of five years. Failure to maintain required records may result in civil penalties, criminal penalties or both.
FBAR, Tax Attorneys, Experts in FBAR Representation, Filing, Negotiation, Settlements, Former IRS
by Fresh Start Tax | Jul 17, 2012 | Back Taxes, Expatriate Tax, IRS Tax Audit, Tax Help, Tax Lawyer
Expatriate Tax Audits 1-866-700-1040
We are a professional tax firm specializing in Expatriate Tax Representation.
Call us for a free tax consultation. 1-866-700-1040. Speak DIRECTLY to a tax professional.
Let us take the worry and fear out of IRS. Let our years of experience be your best friend. We know how to fight back and win.
We are a specialty tax firm comprised of Board Certified Tax Attorneys, CPA’s and Former IRS agents and managers.
We have over 60 years with the IRS in the local, district and regional offices. We have over 205 years of professional tax experience.
If you are expecting a IRS tax audit or you will owe back taxes, call us for a no cost professional tax consultation. Should you owe back taxes to the IRS we will review the possibility of a IRS tax debt settlement called an offer in compromise.
We taught Tax Law at the IRS
How the IRS Selects Tax Returns for Examination
The IRS selects returns using a variety of methods, including:
1.Potential participants in abusive tax avoidance transactions.
Some returns are selected based on information obtained by the IRS through efforts to identify promoters and participants of abusive tax avoidance transactions. Examples include information received from “John Doe” summonses issued to credit card companies and businesses and participant lists from promoters ordered by the courts to be turned over to the IRS.
2.Computer Scoring. The IRS computer system has kicked out your tax return.
Some returns are selected for examination on the basis of computer scoring. Computer programs give each return numeric “scores”. The Discriminant Function System (DIF) score rates the potential for change, based on past IRS experience with similar returns.
The Unreported Income DIF score rates the return for the potential of unreported income. IRS personnel screen the highest-scoring returns, selecting some for audit and identifying the items on these returns that are most likely to need review.
3. Large Corporations( over 5 millions dollars.)
The IRS examines many large corporate returns annually.
4.Information Matching.
IRS examines over 1.4 million taxpayers through this form of audit.
Some returns are examined because payer reports, such as Forms W-2 from employers or Form 1099 interest statements from banks, do not match the income reported on the tax return.
5. Related Examinations.( because they found errors on related tax returns to yours)
Returns may be selected for audit when they involve issues or transactions with other taxpayers, such as business partners or investors, whose returns were selected for examination.
6. Specialized Programs
Area offices may identify returns for examination in connection with local compliance projects. These projects require higher level management approval and deal with areas such as local compliance initiatives, return preparers or specific market segments.
Expatriate Tax Audits, Owe Back Taxes, Settlements, Offer in Compromise – IRS Tax Experts
Call us today for a no cost professional tax consult. 1-866-700-1040.
by Fresh Start Tax | Jul 14, 2012 | Back Taxes, State of Florida, Tax Lawyer, Tax Returns
Florida Sales Tax Problem – File Back Tax Returns & Settlements – Help from Tax Attorneys, Former Agents – Free Consultation
Let tax attorneys, CPAs, and former government agents resolve your Florida State tax problems. Call us today and we offer free tax consultations regarding the filing of your back tax returns and settlements.
If you are having issues or tax problems with the State of Florida and need professional tax representation call us for no cost professional tax consult.
We can immediately get the State off your back. You will never have to speak to a State Tax Agent.
We are comprised of Board Certified Tax Attorneys, Tax Lawyers, CPA’s and Former IRS Agents & Managers.
We have over 206 years of total tax experience and over 60 years of direct government work experience.
Call today for a no cost consultation. 1-866-700-1040.
Filing Back Tax Returns with the State of Florida.
The State of Florida is updating their State computer system to crack down on State of Florida businesses which have not filed their back tax returns.
The State of Florida is implementing matching programs to check on all businesses that ever filed for a State exempt number. The State feels that this Program will generate million upon millions of dollars of Revenue. Do not get catch in the cross-hairs.
Tax Tip
What you should do if you need to file back tax returns.
File as soon as you can! Do not let fear stop you. This must be done. However you need a plan. Many taxpayers waiting to file can avoid criminal penalties if they file before the State knocks on their door.
It is best for you to begin getting current as soon as possible to show that you want to be tax compliant with the tax laws.
The State is usually are willing to work with businesses and owners who want to rehabilitate and become current.
With that in place we can work out a tax settlement with the State of Florida.
Below find the tax provisions for State of Florida tax settlements.
Authority to Settle Back Taxes
Specific Authority 213.06(1), 213.21(5) FS. Law Implemented 213.21(3) FS.
STATE OF FLORIDA
DEPARTMENT OF REVENUE
CHAPTER 12-13, FLORIDA ADMINISTRATIVE CODE
COMPROMISE AND SETTLEMENT
CREATING RULE 12-13.0076
12-13.0076 Calculation of Penalty Subject to Compromise for Reasonable Cause.
(1) Scope and Definitions.
(a) Section 213.21, F.S., authorizes the Department to compromise a taxpayer’s liability
for penalty when the taxpayer’s noncompliance is due to reasonable cause and not willful
negligence, willful neglect, or fraud. The Department will use this rule to calculate the amount
of penalty that the Department will compromise on the grounds of reasonable cause pursuant to
Section 213.21, F.S. The Department will apply the provisions of this rule regardless of whether
the taxpayer requests a compromise of penalty.
(b) The provisions of this rule do not apply to an issue when:
1. the Department determines that the taxpayer’s noncompliance is due to willful
negligence, willful neglect, or fraud;
2. a statute prohibits the Department from exercising discretion to assess or compromise
the penalty.
Call us today and we can show you how to make this process simple. 1-866-700-1040.
Florida Sales Tax Problem , File Back Tax Returns & Settlements, Help from Tax Attorneys, Former Agents, Free Consultations
by Fresh Start Tax | Jul 13, 2012 | Back Taxes, Expatriate Tax, IRS Tax Problem, Offer in Compromise, Offshore Tax Problems
We are Tax Experts for UAE, Dubai Expat Tax Issues and Tax Problems.
We have a combined 206 years of total tax experience and over 60 years of working directly for the IRS. As former IRS Agents we worked as teaching instructors, Revenue Agents, IRS Managers, IRS Auditors, Revenue Officers and Appeals Agents. We also taught tax law at the IRS.
We have on staff Tax Attorneys, Tax Lawyers, and CPA’s.
We can answer all your questions regarding tax returns, tax credits, tax exclusions, and back tax filings. We also address the issue of abatement of penalties and interest due to reasonable cause and settlements negotiations called offers in compromise.
Have no fear of the IRS. We worked for them and we know how to fight back.
What to expect form the IRS.
The Internal Revenue Service has found a gold mine working FBAR and Expatriate Cases. During the past 3 filing season the IRS collected over $4.4 billion large. With the passing of new legislation and funding the IRS will be receiving over $500 Million in new budget revenue. IRS is targeting four new high target areas:
1. FBAR and Expatriates,
2. Modernizing their computer system to catch tax cheats,
3. Criminal Activities,
4. Enforcement for non filers
When to File your tax returns.
If you are a U.S. citizen or resident alien residing overseas, or are in the military on duty outside the U.S., on the regular due date of your return, you are allowed an automatic 2-month extension to file your return and pay any amount due without requesting an extension.
For each calendar year return, you will be given the automatic 2-month extension is to June 15.
If you are unable to file your return by the automatic 2-month extension date, you can request an additional extension to October 15 by filing Form 4868 before the automatic 2-month extension date.
However, any tax due payments made after June 15 will be subject to both interest charges and failure to pay penalties.
If you are having an tax problems, owe back taxes,or have questions with FBAR or Overseas Tax Issues, call us today, 1-866-700-1040, SKYPE available.
UAE, Dubai Expats, TAXES,Back Tax Return Filings, Tax Advise, Expert Tax Help, Attorneys, Former IRS, Affordable
