IRS Tax Attorneys, Lawyers – Levy, Wage Garnishments – IRS Tax Levy Relief – Former IRS

IRS Tax Attorneys, Lawyers – Levy, Wage Garnishments – IRS Tax Levy Relief 1-866-700-1040

 
We are comprised of IRS tax attorneys, tax lawyers, certified public accountants and former IRS agents, managers and tax instructors. While at the IRS we taught tax law.
We have over sixty years of directly working for  the Internal Revenue Service in the local, district, and regional tax offices of the IRS.
We are tax experts and  tax specialists  in the field of IRS resolution, settlement and release of tax levies or wage garnishments releases.
Let our IRS tax attorneys, lawyers and former IRS agents get you tax relief from an IRS levy or wage garnishment.
Contact us for a free consultation today and see how easy the processes to get a wage or tax Levy garnishment release from the Internal Revenue Service.
 

The process of Levy or Wage Garnishment Relief

 
Any time a taxpayer owes back taxes, the IRS requires a financial statement before it will release or remove an IRS tax levy or the wage garnishment.
IRS will use a form 433-F. That form will help the IRS make these decisions.  The financial statement will include all your assets, income and a list of your current tax expenses. You will need to verify all expenses that you put on the IRS financial statement. IRS will conduct  a careful review of everything you put on the financial statement so make sure you are truthful on every thing put down on the form.
IRS will carefully review your financial statement.
IRS will either:
1. place you in a current economic tax hardship because your expenses are more than your income,
2. ask you to make installment payments or put you on a payment agreement,
3. or instruct you that you could be a possible settlement candidate.
By calling our firm not only will you get your tax levy or wage garnishment released we will also settle your case.
 

What is an IRS tax levy or wage garnishment

A  IRS tax levy is a legal seizure of your property to satisfy a tax debt.
Levies are different from liens.
A federal tax lien is a claim used as security for the tax debt, while a levy actually takes the property to satisfy the tax debt. A tax lien is usually filed at a courthouse closest to your residence or last known address.
If you do not pay your income or business taxes or make arrangements to settle your debt the IRS may chose seize and sell any type of real or personal property that you own or have an interest in.
IRS can seize and sell property that you hold such as your car, boat, or house or they
could levy property that is yours but is held by someone else such as your wages, retirement accounts, dividends, bank accounts, licenses, rental income, accounts receivables, the cash loan value of your life insurance, or commissions.
The Internal Revenue Service can seize almost anything unless it moves.The Internal Revenue Service only seizes homes or cars when cases are extreme. IRS has only seized 800 cars or homes for the entire fiscal 2012 year. IRS is not wanting to seize the assets belonging to taxpayers, IRS just wants taxpayers to contact them to resolve their tax issues.
 

These three requirements must be met before a Tax Levy:

1. The IRS assessed the tax and sent you a Notice and Demand for Payment,
2. You neglected or refused to pay the tax; (this is usually done by phone) and
3. The Internal Revenue Service  sent you a Final Notice of Intent to Levy and Notice of Your Right to A Hearing (levy notice) at least 30 days before the levy.
 

How the IRS must give you your Notice:

IRS has different options:
a. they may give you this notice in person,
b. leave it at your home or your usual place of business,
c.or send it to your last known address by certified or registered mail, return receipt requested.
Please note: if the IRS levies your state tax refund, you may receive a Notice of Levy on Your State Tax Refund, Notice of Your Right to Hearing after the levy. Call us for more details.
 

Levy Causing a hardship

If a levy on your wages, bank account or other property is causing a hardship you should contact us immediately.
If  the IRS determines the levy is creating an immediate economic hardship, the levy may be released. Call us today and we can go over all your options.
Remember, a levy release does not mean you are exempt from paying the balance. penalties and interest will continue to accrue even if your case goes into an economic tax hardship.
 

Collection Due Process Hearing

You may ask an IRS manager to review your case, or you may request a Collection Due Process hearing with the Office of Appeals by filing a request for a Collection Due Process hearing with the IRS office listed on your notice.
You must file your request within 30 days of the date on your notice. You may not ask for an appeal past the 30 days because it is in IRS policy that must be adhered to.
Some of the issues you may discuss include  at your appeals hearing:
a. You paid all you owed before we sent the levy notice,
b. IRS assessed the tax and sent the levy notice when you were in bankruptcy, and subject to the automatic stay during bankruptcy,
c.The IRS made a procedural error in an assessment  and you have proof to show such an error,
d. The time to collect the tax (called the statute of limitations) expired before we sent the levy notice, (  the normal collection statute is 10 years from the date of the assessment),
e. You did not have an opportunity to dispute the assessed liability,
f. You wish to discuss the collection options, or
g.You wish to make a spousal defense.  This could result in the filing of an innocent spouse claim.
We are comprised of IRS tax attorneys, tax lawyers and IRS tax specialist. Call us today for free tax consultation and here the truth. We offer affordable billing. We are A+ rated by the Better Business Bureau.
At the conclusion of your hearing, the Office of Appeals will issue a determination. You will have 30 days after the determination date to bring a suit to contest the determination. Refer to Publication 1660 (PDF), for more information. If your property is levied or seized, contact the employee who took the action. You also may ask the manager to review your case. If the matter is still unresolved, the manager can explain your rights to appeal to the Office of Appeals.
Levying Your Wages, Federal Payments, State Refunds, or Your Bank Account
If we levy your wages, salary, federal payments or state refunds, the levy will end when:
The levy is released,
You pay your tax debt, or
The time expires for legally collecting the tax.
If we levy your bank account, your bank must hold funds you have on deposit, up to the amount you owe, for 21 days. This holding period allows time to resolve any issues about account ownership. After 21 days, the bank must send the money plus interest, if it applies, to the IRS. To discuss your case, call the IRS employee whose name is shown on the Notice of Levy.
 

FBAR – Do you need to File a FBAR – Tax Attorneys, Tax Lawyers, FBAR Experts


 

FBAR – Do you need to File a FBAR – Tax Attorneys, Tax Lawyers, FBAR Experts    1-866-700-1040

 
Have FBAR Experts Tax Attorneys and Tax Lawyers offer you a free tax consultation.
If you have any questions about FBAR reporting please feel free to call our office for a free initial tax consultation.
We are comprised of Tax Attorneys, Tax Lawyers, CPAs and former IRS agents and managers.
We have over 206 years of professional tax experience and we have over 60 years of working directly for the Internal Revenue Service.
At the IRS we worked in positions as agents, managers, and tax instructors. We also taught tax law.
We are experts in FBAR.  1-866-700-1040
All FBAR consultations are conducted by a tax attorney so he can not only answer your tax questions and how it relates to you but you are protected under attorney-client privilege
 

Who has to file for FBAR Reporting

 
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).
The FBAR is required because foreign financial institutions may not be 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 United States law.
Investigators use FBARs to help identify or trace funds used for illicit purposes or to identify unreported income maintained or generated abroad.
 

Recent FBAR Guidance

 
On February 24, 2011, the Treasury Department published final regs amending the FBAR regulations.
These regulations became effective March 28, 2011, and apply to FBARs required to be filed with respect to foreign financial accounts maintained in calendar year 2010, and for FBARs required to be filed with respect to all subsequent calendar years.
 

Filing deadline for employees and officers to report

 
The filing deadline for employees and officers to report signature authority over these accounts was extended to June 30, 2012, for the following individuals:
a. An employee or officer of an entity under 31 CFR § 1010.350(f)(2)(i)-(v) who has signature or other authority over and no financial interest in a foreign financial account of a controlled person of the entity;or
b. An employee or officer of a controlled person of an entity under 31 CFR § 1010.350(f)(2)(i)-(v) who has signature or other authority over and no financial interest in a foreign financial account of the entity, the controlled person, or another controlled person of the entity.
 

Important note

 
For purposes of FinCEN Notice 2011-1, a controlled person is a United States or foreign entity more than 50 percent owned (directly or indirectly) by an entity under 31 CFR § 1010.350(f)(2)(i)-(v).
On June 17, 2011, FINCEN  issued to provide filing deferral for certain officers or employees of investment advisers registered with the Securities and Exchange Commission who have signature authority over, but no financial interest in, foreign financial accounts of their employer.
The filing deadline for employees and officers to report signature authority over these accounts was similarly extended to June 30, 2012.
All other U.S. persons required to file an FBAR this year are required to meet the June 30, 2013 filing date.
On Jan 9, 2012, the IRS reopened the OVD  following continued interest from taxpayers and tax practitioners after the closure of the 2011 and 2009 programs. This program will be open for an indefinite period until otherwise announced.
 

Who Must File an FBAR

 
United States persons are required to file an FBAR if:

  1. The United States person had a financial interest in or signature authority over at least one financial account located outside of the United States; and
  2. The aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year to be reported.

United States person means United States citizens; United States residents; entities, including but not limited to, corporations, partnerships, or limited liability companies created or organized in the United States or under the laws of the United States; and trusts or estates formed under the laws of the United States.
 

Exceptions to the Reporting Requirement

 
Exceptions to the FBAR reporting requirements can be found in the FBAR instructions. There are filing exceptions for the following United States persons or foreign financial accounts:

  1. Certain foreign financial accounts jointly owned by spouses;
  2. United States persons included in a consolidated FBAR;
  3. Correspondent/nostro accounts;
  4. Foreign financial accounts owned by a governmental entity;
  5. Foreign financial accounts owned by an international financial institution;
  6. IRA owners and beneficiaries;
  7. Participants in and beneficiaries of tax-qualified retirement plans;
  8. Certain individuals with signature authority over but no financial interest in a foreign financial account;
  9. Trust beneficiaries; and
  10.  Foreign financial accounts maintained on a United States military banking facility.

Look to the form’s instructions to determine eligibility for an exception and to review exception requirements.
 

Reporting and Filing Information

 
A person who holds a foreign financial account may have a reporting obligation even though the account produces no taxable income.
Checking the appropriate block on FBAR-related federal tax return or information return questions (for example, on Schedule B of Form 1040, the “Other Information” section of Form 1041, Schedule B of Form 1065, and Schedule N of Form 1120) and filing the FBAR, satisfies the account holder’s reporting obligation.
 

Please Note

 
The FBAR is not filed with the filer’s federal income tax return.
The granting, by the IRS, of an extension to file federal income tax returns does not extend the due date for filing an FBAR.
You may not request an extension for filing the FBAR.
 

Filing FBAR

 
The FBAR is an annual report and must be received by the Department of the Treasury in Detroit, MI, on or before June 30th of the year following the calendar year being reported. While FinCEN strongly encourages individuals to electronically file FBARs, the form can be mailed to one of the two addresses below, provided that the mailing is received by June 30, 2013:
 

File by mailing the FBAR to:

 
United States Department of the Treasury
P.O. Box 32621
Detroit, MI 48232-0621
If an express delivery service is required for a timely filed FBAR, address the parcel to:
IRS Enterprise Computing Center
ATTN: CTR Operations Mail room, 4th Floor
985 Michigan Avenue
Detroit, MI 48226
Delivery messenger service contact telephone number: (313) 234-1062.
Account holders who do not comply with the FBAR reporting requirements may be subject to civil penalties, criminal penalties, or both.
 

Electronic Filing for FBAR Forms – MANDATORY Beginning July 1, 2013