by Fresh Start Tax | Dec 2, 2012 | Back Taxes, New Jersey Tax, Tax Settlements
File Back Tax Returns, Settle Back Tax – Tax Attorneys, Former IRS- Upper Montclair, Cedar Grove, West Orange, Ridgewood, Mendham, Franklin Lakes, Newark, Bernardsville – New Jersey
Fresh Start Tax LLC – New Jersey
209 Cooper Ave,
Upper Montclair, NJ 07043 1-866-700-1040
Hire local IRS tax representation to file you back, late, or past due tax returns and settle your back taxes all at the same time.
We are comprised of Tax Attorneys, Tax Lawyers and Former IRS Agents and Managers.
We have over 60 years of direct experience at the IRS.
We have successfully represented thousands of taxpayers with back tax issues and tax settlements.
All first time consultation are free 1-866-700-1040. Call us, we are friendly and affordable.
IRS Tax Settlements and Back Tax.
This process is called An offer in compromise that allows you to settle your tax debt for less than the full amount you owe.
It may be a legitimate option if you cannot pay your full tax liability, or doing so creates a financial hardship.
IRS will consider your unique set of facts and circumstances:
1. Ability to pay,
2. Income,
3. Expenses and,
4. Asset equity.
IRS will generally approve an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time.
Filing Back taxes, you should file before the IRS files your back tax returns
If you do not file your back tax returns the IRS can file for you and this will spell trouble. The IRS will use the highest standard that they can and create a valid tax assessment made up of your income and no expenses.
If you do not follow up and ask for a tax reconsideration the IRS can follow that up with the filing of a Federal Tax Lien, a Bank Levy or a Wage Garnishment.
It is imperative you rectify these issues before the IRS enters the assessment phase.
Call us today for more details. 1-866-700-1040.
IRS can prepare your tax return under 6020B of the IRM
IRC 6020(a)
You can bring the information in to the IRS and they can prepare your return.
If the taxpayer will consent to disclose all information necessary for the preparation of the return(s), IRC 6020(a) states,
“… the Secretary may prepare such return, which, being signed by such person, may be received by the Secretary as the return of such person.”
This does not include the taxpayer signing a waiver of restriction on assessment (e.g., Form 4549, Income Tax Examination Changes, or Form 870, Waiver of Restrictions on Assessment & Collection of Deficiency in Tax & Acceptance of Over-assessment,) which does not constitute a return under IRC 6020(a).
Delinquency penalties are applicable.
Under IRC 6020(b)
Those who willfully fail to file.
IRC 6020(b) states, “If any person fails to make any return required by any Internal Revenue Law or regulation made there under at the time prescribed therefore, or makes, willfully or otherwise, a false or fraudulent return, the Secretary shall make such return from his own knowledge and from such information as he can obtain through testimony or otherwise.”
IRC 6020(b)(2) states,
“Any return so made and subscribed by the Secretary shall be prima facie good and sufficient for all legal purposes. This is an SFR or substitute for Tax Return.
File Back Tax Returns, Settle Back Tax – Tax Attorneys, Former IRS – Upper Montclair, Cedar Grove, West Orange, Ridgewood, Mendham, Franklin Lakes, Newark, Bernardsville – New Jersey
by Fresh Start Tax | Nov 30, 2012 | New Jersey Tax, Tax Returns
Income Tax Preparation, Tax Services CPA’s, Former IRS
We are a full service tax firm. We are A plus rated BBB.
We can help audit proof your individual or business tax return. 1-866-700-1040.
We have on staff Board Certified Tax Attorneys, Tax Lawyers, CPA’s and Former IRS Agents, Managers and Instructors.
We have over 205 years of total IRS and State Tax Experience and over 60 years of direct work expereince at the IRS in the local, district and regional offices of the IRS.
Fresh Start Tax LLC – New Jersey
209 Cooper Ave,
Upper Montclair, NJ 07043
1-866-700-1040
We offer a FREE initial consultation for business owners.
Fresh Start Tax LLC
Preparing your own income tax return can be a task that leaves you with more questions than answers.
According to a study released by the US Government’s General Accounting Office last year, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer.
Whether we like it or not, today’s tax laws are so complicated that filing a relatively simple return can be confusing.
It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there’s no substitute for the assistance of an experienced tax professional.
Here’s what your get by using Fresh Start Tax LLC
Your individual or business tax return will be checked and rechecked by our computer software identifying potential problems the IRS may look at more closely and reviewing the math to limit IRS contacts.
Your tax return can be filed electronically so you will get a refund back quicker.
Our professional tax staff will show you how to adjust your payroll withholding to get more money back each week. Why give the IRS an interest free loan for up to 16 months.
We will show you potential deductions to limit your tax liability for next year. In addition, we will give you a sheet of commonly overlooked deductions to limit the following year’s tax liability.
Books a Mess: No Problem!
If you own a small business and haven’t kept up your bookkeeping, don’t worry. We can help you.
We will prepare your bookkeeping for the year, prepare a full Schedule C, as well as your personal income tax return. Then we’ll help you set up an easy system that allows you to keep your books in tip-top shape next year.
Our Services include but not limited to the following:
- All Tax Services
- Accounting
- Tax Planning
- Bookkeeping
- IRS Problem Resolution
- Financial Planning
- Estate and Trust Fund Planning
- Incorporation
- New Business Advisor
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- Compilation of Financial Statements
- Income Tax Preparation Service
- Tax Preparation Help
- Federal Income Tax Return
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Income Tax Preparation – Tax Services- CPA’s, Former IRS – Upper Montclair
by Fresh Start Tax | Nov 29, 2012 | IRS Tax Audit, New Jersey Tax, Sales Tax, Tax Audit, Tax Lawyer
IRS Tax Audit – Sales Tax Audit – Former Agents
We are a professional tax firm specializing in IRS and New Jersey Tax Audits;
On staff are Tax Attorneys, Tax Lawyers, CPA’s and Former IRS agents.
Fresh Start Tax LLC – New Jersey
209 Cooper Ave,
Upper Montclair, NJ 07043
1-866-700-1040
We have 60 years of direct IRS work experience and have worked in conjunction with the State in various forms of Sales Tax Audits.
You may call us for a no cost professional tax consult so you can learn about the scope and direction of a IRS Tax Audit or a Sales Tax Audit.
All work is done in house by certified tax professionals.
There are different type of tax audits. The most common type of tax audits:
1. A mail correspondence tax audit. Over 1.4 million tax returns are audited this way. the IRS simply sends a notice advising you there was a math or computation error on your tax return.
2. The DIF tax audit. Your tax return fell out of the national standard for income and expense ratios. Each return has a DIF number attached and is classified information.
3. Specialty program. IRS runs special programs on industries and businesses. Many times this can relate to the area abuses.
4. Whistle blower. Someone rats you out.
5. National Research Projects
Importance of National Research Projects Results. ( in depth look )
Because NRP results are used to develop or update formulas for scoring returns as to their probability for additional tax or additional income, it is essential that examinations be thorough. Examiners should remain mindful of causing undue burden for the taxpayer.
Scope of Examination .
Every classified item must be examined. An inquiry or an inspection of records and documents must be made for all classified line items.
Expansion of Audit Scope.
If the examination reveals changes to any of the classified items, the examiner usually considers expanding the examination to include other items, if any, on the return or supporting schedules. These audits become more in depth.
NRP selection is not a basis for expanding the scope of an examination, if the examination was in process prior to the return being designated by NRP.
For any return closed prior to its designation as an NRP return, an NRP report will be completed based on the results of such examination if the NRP Office determines the results are valid for study purposes.
These NRP tax audits are used to set the National Standards for DIF scores.
Related Entity Examinations.
If a related entity is classified, the tax examiner usually follows the required filing checks procedures. If the related entity is not examined, the examiner will document why it was not examined and no-change the issue on RGS. If the related entity is deemed worthy of examination, the examiner needs to timely request controls on the related return and open an examination on that entity.
If the related entity is outside the group control, the examiner will follow the procedures outlined in the IRM for collateral examinations.
Depth of a NRP Tax Examination.
Tax Examiners must use their professional judgment concerning the depth of examination required for any particular item on the tax return bearing in mind the research nature of the examination.
Tax Examiners should use professional judgment regarding the depth of examination of an issue. The depth of the examination of a NRP examination is the same as is used in field audits.
NRP taxpayers must not be held to a higher standard or more in-depth audit procedures.
Issues should be perused to the depth necessary to reach a support able conclusion. Oral testimony may be accepted in appropriate situations.
Call us today for a no cost professional tax consult 1-866-700-1040.
IRS Tax Audit – Sales Tax Audit – Former Agents – Upper Montclair, Cedar Grove, West Orange, Ridgewood, Mendham, Franklin Lakes, Newark, Bernardsville – New Jersey
by Fresh Start Tax | Nov 29, 2012 | IRS Tax Problem, New Jersey Tax, Tax Lawyer, Tax Relief
IRS Lawyers, Tax Attorneys – IRS Problems, Tax Relief Resolution
We are comprised of Board Certified Tax Attorneys, Tax Attorneys, CPA’s and Former IRS Agents, Managers and Instructors.
We have over 205 years of total tax experience and over 60 years of direct work experience at the IRS. We solve all IRS problems and can get you immediate tax relief resolution.
We taught Tax Law at the IRS and have trained IRS agents. We know all the tax policies and tax procedures.
We offer a no cost 30 minute tax consult. You will speak directly to a tax professional 1-866-700-1040.
Fresh Start Tax LLC – New Jersey
209 Cooper Ave,
Upper Montclair, NJ 07043
1-866-700-1040
The use of a professional tax firm.
There are many companies that appear on the web. At best guess there are over 100,000 companies that claim to resolve IRS problems and can get you tax relief resolution.
The average consumer is not aware of a simply fact, most of the companies that advertise are ” lead generators”.
A lead generator sets up a website that appears to be like a professional site. The lead generators then sell your information or lead to the highest bidder. Most bids fall in the $60 range.
Your information is being sold to third parties you have no idea about.
When hiring a professional tax firm, check out the following:
1. The professional credentials,
2. Check out the years of IRS experience,
3. Check out BBB ratings,
4.Check out the staff, make sure the tax firm has multiple professionals that can handle your case,
5. Ask to speak directly to the tax professional that will be handling your work, a secretary will not do,
6. If they guarantee a result, run away as fast as you can,
7. If they brag about settling your case for pennies on a dollar be very careful, true professional firms are not fast to make such claims until the case has been thoroughly reviewed,
8. Make sure to ask on similar cases like yours, what are typical results.
9. Let your gut and instinct take over,
10. Make sure you call around and hear from a least three companies.
Call for a no cost consult 1-866-700-1040.
IRS Lawyers, Tax Attorneys, Former IRS, – IRS Problems, Tax Resolution, – Upper Montclair, Cedar Grove, West Orange, Ridgewood, Mendham, Franklin Lakes, Newark, Bernardsville, – New Jersey
by Fresh Start Tax | Nov 28, 2012 | New Jersey Tax, Offer in Compromise, Tax Settlements
Offer in Compromise – Settle IRS Tax Debt – Former IRS Agent, Tax Lawyers
Upper Montclair, Cedar Grove, West Orange, Ridgewood, Mendham, Franklin Lakes, Newark, Bernardsville – New Jersey
Have Former IRS Agents, Managers and Instructors who worked and taught the Offer in Compromise Program at the IRS settle your IRS Tax Debt.
Settle for the lowest amount allowed by Law.
We have worked hundreds of case and know the exact formulas of the Internal Revenue Service. Over 60 years of combined IRS tax experience.
We taught Tax Law to new IRS agents and know the exact policies of settlement structures.
You can call us today, 1-866-700-1040 for a no cost consult and let us review your information to see if you are a Offer in Compromise candidate.
The IRS Offer In Compromise/ Settle with the IRS
An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than the full amount of the taxes that are owed.
If the tax liabilities can be fully paid through an installment agreement or other means, the taxpayer will in most cases not be eligible for an OIC.
General Rule of thumb.
You must at least offer IRS all the equity you have in your total assets. IRS will not expect a offer unless your total value of assets to the IRS. Equity is consider a discounted fair market value.
Assets also included home value, IRA’s and Pension Plans
Call us for more details. 1-866-700-1040
In most cases, the IRS will not accept an OIC unless the amount offered by the taxpayer is equal to or greater than the reasonable collection potential (the RCP).
The RCP is how the IRS measures the taxpayer’s ability to pay.
The RCP includes the value that can be realized from the taxpayer’s assets, such as real property, automobiles, bank accounts, and other property.
In addition to property, the RCP also includes anticipated future income, less certain amounts allowed for basic living expenses.
The IRS may accept an OIC based on three grounds.
First, acceptance is permitted if there is doubt as to liability.
This ground is only met when genuine doubt exists that the IRS has correctly determined the amount owed.
Second, acceptance is permitted if there is doubt that the amount owed is collectible.
This means that doubt exists in any case where the taxpayer’s assets and income are less than the full amount of the tax liability.
Third, acceptance is permitted based on effective tax administration or exceptional circumstances.
An offer may be accepted based on effective tax administration when there is no doubt that the full amount owed can be collected, but requiring payment in full would either create an economic hardship or would be unfair and inequitable because of exceptional circumstances.
The Process
While your offer in compromise is being evaluated by the IRS:
1. Your non-refundable payments and fees will be applied to the tax liability,
2. A Notice of Federal Tax Lien may be filed if the IRS feels the offer is frivolous,
3. Other collection activities may and are suspended,
4. The legal IRS tax assessment and collection period is extended for the time in offer status,
5. You need to make all required IRS tax payments associated with your offer in compromise,
6. You are not required to make payments on an existing installment agreement; and
7. Your offer in compromise is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.
Offer in Compromise – Settle IRS Tax Debt – Former IRS Agent, Tax Lawyers 1-866-700-1040
