Friday, March 29, 2019

HOW TO FIND OUT THE AMOUNT YOU OWE IN BACK TAXES TO THE IRS

You can calculate what you owe in back taxes fairly accurately without even contacting the IRS.

Finding out how much you owe the IRS in back taxes will depend on whether the tax relates to returns you’ve already filed or ones you still need to file. Either way, you can calculate what you owe fairly accurately without even contacting the IRS, though at some point, you will need to contact the agency to confirm the amount and make payments.

NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965




STEP 1 OBTAIN COPIES OF ALL TAX RETURNS YOU OWE TAXES ON.

The first thing you'll need to do is gather all of your relevant returns and documents that relate to each year you still owe back taxes for. Each of your tax returns will report the amount of tax you owe, but never paid. If you did file a return but no longer have a copy, you can obtain one from your accountant who prepared it for you or if necessary, you can order a duplicate copy from the IRS.

STEP 2: FILE YOUR PAST-DUE TAX RETURNS

If your back taxes relate to returns you have not yet filed, then you can calculate the amount of tax you owe for each year by preparing the actual returns. However, when you do, you must use all tax forms for the particular prior year that you are filing.

For example, if during 2018 you decide to prepare your 2015 tax return; then you must use 2015 tax forms, schedules and instructions. If you mistakenly file using the forms for a different tax year, the IRS is likely to notify you of the error.

Accessing these old forms is not as difficult as you may think. The easiest option is to use tax preparation software or contact Advance Tax Relief to help you. We can assist you will filling out many of the IRS forms from prior years. Alternatively, you can search for each form you need on the IRS website. However, many of the older forms on the IRS website require you to print and fill them out manually.

STEP 3: CALCULATE YOUR INTEREST AND PENALTIES

Regardless of whether you filed the tax return years ago or are preparing it for the first time this year, you must increase your tax bill for the interest and penalty charges the IRS imposes when you pay your taxes late. Calculating your penalties and interest will provide you with a more accurate estimate of what you need to pay.

For example, if you file your tax return five months or more after the original due date, then you must increase your payment by 25 percent of the tax you still owe.

STEP 4: PAY YOUR BACK TAXES OR CONSULT WITH ADVANCE TAX RELIEF FOR HELP ABOUT BACK TAX RELIEF SETTLEMENTS

Once you determine how much you owe the IRS, it’s in your best interest to pay the amount in full or make payment arrangements immediately. At a minimum, your outstanding back tax balance will continue to accrue interest each month it remains unpaid.

If the amount you owe is significant and you are unable to make a lump-sum payment for the full amount, you should contact the IRS to work out a payment plan. Once your installment plan is in place, you can avoid more severe collection enforcement by the IRS as long as you adhere to all terms of the agreement and make each payment on time.

GET TAX RELIEF HELP TODAY

If you think that you may need help filing your 2018/2019 tax return and past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.

Advance Tax Relief is headquartered in Houston, TX with a branch office in Los Angeles, CA. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.

Advance Tax Relief is rated one of the best tax relief companies nationwide.

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Thursday, March 28, 2019

NOTICES YOU MAY RECEIVE FROM THE IRS FOR NOT FILING BACK TAX RETURNS (2009 - 2017) - TAX RELIEF HELP

You may receive one or more of the below notices if you have not filed your tax return.

If the IRS files a substitute return, it is still in your best interest to file your own return to take advantage of all the exemptions, credits and deductions to which you are entitled. The IRS will generally adjust your account to reflect the correct figures.

NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965



Understanding your CP59 Notice
We sent you this notice because we have no record that you filed your prior personal tax return or returns.

Understanding Your CP63 Notice
We are holding your refund because you have not filed one or more tax returns and we believe you will owe tax.

Understanding your CP259 Notice
We show that you are required to file a tax return for the tax periods indicated on your notice but haven’t.

Understanding Your CP515I Notice
This reminder notice tells you we still have no record that you filed your prior tax return or returns.

Understanding Your CP516 Notice
This notice reminds you that we still have no record that you filed your prior tax return or returns.

Understanding Your CP518I Notice
This is a final reminder notice that we still have no record that you filed your prior tax return(s).

Understanding Your CP518B Notice
This is a final reminder notice that we still have no record that you filed your prior tax returns.

Understanding Your CP2566 Notice
We didn't receive your tax return. We have calculated your tax, penalty and interest based on wages and other income reported to us by employers, financial institutions and others.

Understanding Your CP2566R Notice
We previously sent you a CP63 notice informing you we are holding your refund until we receive one or more unfiled tax returns. Because we received no reply to our previous notice, we have calculated your tax, penalty and interest based on wages and other income reported to us by employers, financial institutions and others.

Understanding Your CP3219A Notice
We received information that is different from what you reported on your tax return. This may result in an increase or decrease in your tax. The notice explains how the amount was calculated and how you can challenge it in U.S Tax Court.

Understanding Your LT3219B Notice
This Statutory Notice of Deficiency notifies you of our intent to assess a tax deficiency and of your right to petition the U.S. Tax Court to dispute the proposed adjustments. We made these adjustments because we received information from third parties that doesn’t match the information you reported on your return.

Understanding Your CP3219N Notice
We didn't receive your tax return. We have calculated your tax, penalty and interest based on wages and other income reported to us by employers, financial institutions and others.


GET TAX RELIEF HELP TODAY

If you think that you may need help filing your 2018/2019 tax return and past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.

Advance Tax Relief is headquartered in Houston, TX with a branch office in Los Angeles, CA. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.

Advance Tax Relief is rated one of the best tax relief companies nationwide.

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#TaxResolution #LocalTaxAttorney #HelpFilingBackTaxes #TaxDebtSettlement #TaxReliefAttorneys #IRSHelp #TaxRELIEF #TaxAttorneys #AuditHelp #BackTaxes
#OfferInCompromise #WageGarnishmentHelp #AuditReliefHelp #SmallBusinessTAXES

Monday, March 25, 2019

IRS FRESH START, OFFER IN COMPROMISE AND HOW THEY WORK!

Installment agreements, IRS Financial Statements, Offer in compromise, Trust fund recovery penalty

An offer in compromise can put IRS troubles behind you and bring a fresh start on your taxes.

NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965



But the road to a fresh start with the IRS is not necessarily as simple as it may sound.

The IRS has very strict criteria that they use to determine if a tax debt should be compromised.

Before jumping in with a compromise, there is much you need to know about the IRS settlement process, including:

Whether you should even file an offer in compromise.  For example, if the IRS has a limited time left to collect your debt (out of the 10 year period they are given by law), should you jump in or remain on the sidelines?  Sometimes, it is better to hold them, but you need to know when.

What are your chances of success. The IRS rejects more comprises than it accepts, due in part to its rigorous financial guidelines that are used to determine if they should settle or if they believe they can get paid in full.  Know if your your situation merits the time invested to settle ahead of time.

How to use the internal IRS criteria to negotiate the best settlement.  It is important to know the IRS offer in compromise valuation formula before jumping in.  Do you make too much to settle?  What if you spend too much and the IRS wants you to cut your budget so you can pay them more?  The IRS has specific formulas that are used in valuing a compromise that should be reviewed and applied to your situation before jumping in.

The best ways to handle the full financial disclosure that the IRS requires.  The IRS wants to know where you work, bank, the amount in your retirement accounts, what cars you drive, what your house is worth, what you make, and what you spend.  What if your income varies year to year, and right now it is at a high?  What income do you pick (hint:  the IRS permits income-averaging over several years to even out the highs and he lows)?

How to complete the IRS financial statements and compromise forms.  For example, the IRS guidelines permit you to reduce the value of your cars and house by 20% on the financial statements, effectively lowering the value of your compromise by 20%.  Proper completion of the forms can result in significant savings in settlement.

Your rights to dispute an IRS rejection of an offer in compromise.  Maybe they think your home is worth more than it is.  Or aren’t allowing you necessary living expenses.  Or think you earn more than you do or will in the fixture.  Either way, any IRS compromise decision is subject to an independent review by the IRS Office of Appeals.  Many offers that are initially turned down are ultimately accepted by appeals.

Success with an offer in compromise is based on knowing the IRS’s settlement guidelines, understanding how to apply those rules to your situation, and responding if the IRS does not properly follow and implement them.

GET TAX RELIEF HELP TODAY

If you think that you may need help filing your 2018 tax return and past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.

Advance Tax Relief is headquartered in Houston, TX with a branch office in Los Angeles, CA. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.

Advance Tax Relief is rated one of the best tax relief companies nationwide.

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Friday, March 22, 2019

BEHIND ON FILING YOUR TAX RETURNS? WHAT TO DO!

Do you owe back taxes from 3, 10, or even 20 years ago?

If you are like many Americans, you may have slipped up paying your taxes one year, then nothing came of it, so by the time the next year came around, you put it off again, and then again.

NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965





And maybe you’re one of the lucky ones who haven’t seen any notable consequences. The IRS hasn’t come knocking at your door, so you don’t think there’s anything to worry about—out of sight, out of mind, right?

Wrong.

Not filing your taxes is a criminal offense. The IRS may see your failure to file as evasion. The rules around tax assessments will benefit the IRS—there is no time limit on which they can assess you.

If you already owe money, the IRS will add plenty of fines and penalties on top of what you owe. And if you are owed a refund, you risk not getting any of your money back.

YOU’RE NOT ALONE, MANY TAXPAYERS FILE THEIR TAX RETURNS LATE

Many people miss deadlines and fall behind due to a host of circumstances which are sometimes beyond their control. Unfortunately, the IRS doesn’t really care about the reasons why you haven’t filed. And whether they have contacted you about your missing file or not, they will catch up to you. If you haven’t paid your debt, they will likely contact you with an aggressive collections strategy.

But you should know that you’re not alone. Many Americans go through the same thing as you are going through now, and come out of it better than ever. Even if it’s late, and no matter what the IRS has already done, you have the right to file for your business and personal taxes. But filing without professional help can get very complex and stressful very fast.

WHAT WILL THE IRS DO IF YOU HAVEN’T FILED?

The IRS will typically prepare a “substitute for return” (SFR) as a placeholder for a missing tax return. The numbers in the SFR will be their “best guess” and will include every deposit as taxable income (including loans, gifts, transfers, etc.) and only reflect basic deductions. The IRS will not account for deductions that you may be entitled to, such as family, real estate, business, or tuition deductions. With the SFR prepared and assessed, the IRS can contact you at any time and, once it does, it may be legally entitled to seize your property, your assets, and even garnish your wages.

The burden is then on you to show that the IRS’s adjustments are incorrect. This can be difficult to do–especially if you do not have records to prove your case. It’s fairly common to see people walk through our doors without records–and this is part of what we’re here for. We can help you recover these records and find legal alternative solutions for those missing pieces.

Possible benefits of filing your tax returns.
By filing as soon as possible, you can:

Avoid compounding interest.
Stop taxes and fines from piling up.
Start the time period going for the time the IRS has to collect your taxes.
Avoid a wage garnishment, a bank levy or tax lien based on substitute returns.
If you do owe money, we’ll help you establish a reasonable payment plan that will likely be much less than what the IRS would offer you up front.
Handle this now, and your future self will thank you.
The best thing to do is nip any issues in the bud as soon as possible, even if they have not yet contacted you. Our team of qualified professionals is committed to standing by you through this time.

To avoid this extremely stressful and humiliating situation, it’s best to contact a tax professional today, even if you have not yet heard from the IRS about your late return.

GET TAX RELIEF HELP TODAY

If you think that you may need help filing your 2018 tax return and past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.

Advance Tax Relief is headquartered in Houston, TX with a branch office in Los Angeles, CA. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.

Advance Tax Relief is rated one of the best tax relief companies nationwide.

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Thursday, March 21, 2019

WHEN CAN THE IRS LEVY YOUR WAGES, BANK ACCOUNT AND SEIZE YOUR ASSETS?

One of the biggest offenders is the IRS Notice of Intent to Levy.

As part of its collection process, the IRS sends two different letters, each called a Notice of Intent to Levy. On their surface, these two letters are indistinguishable to a layperson, and look the same. But they are very different in what they permit the IRS to do.

NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965


A little background on a Notice of Intent to Levy: Before the IRS can levy you, they have to send the Notice of Intent to Levy. This is law under Internal Revenue Code Section 6330 – the IRS must notify you in writing before levying, and tell you about your rights to file an appeal within 30 days in response. If an appeal is filed, the IRS cannot levy until it is resolved.
In other words, in most situations, the IRS is not permitted to levy by surprise. But the letters they send to permit you to prevent it are camouflaged.
Needless to say, it is extremely important to be able to distinguish between the real Notice of Intent to Levy and the wannabe. Your rights to protect your property can depend on it.
An easy way to tell the difference is to find the identifier that the IRS places in the upper-right hand corner of the letters.
The wannabe Notice of Intent to Levy is identified as a CP504; the real one is identified by the IRS as an LT11 (sometimes it will be a L1058).
Only the Notice of Intent to Levy identified as an LT11 actually permits the IRS to do so; the other (CP504) is, well, a dummy letter.
Let’s take a look at a sample CP504 that the IRS recently sent to my client, and put it through some truth serum.
Here is what the CP504 (aka the pretend Notice of Intent to Levy), states on its face:
“Notice of Intent to Levy”
“Amount Due Immediately $85,793.50”
“This is a notice of intent to seize (“levy”) your state tax refund or other property. As we notified you before, our records show you have unpaid taxes for the tax year ending December 31, 2012. If you don’t call us immediately or pay the amount due, we may seize ((“levy”) your property or rights to property (including any state tax refunds) and apply it to the $85,793.50 you owe.”
The CP504 goes on to state the property to be levied includes wages, commissions, bank accounts, and personal assets (including your car and home.
Sounds like the IRS is about to get you, right? Take your stuff, wipe you out. Not so fast.
All IRS appearances aside, this is not the letter under Internal Revenue Code 6330 that permits the IRS to take levy action.
Here’s why:
The CP504 Notice of Intent to Levy does not notify you of appeal rights.
Remember, the Internal Revenue Code requires the IRS to clearly state rights to appeal a notice of intent to levy. Without such notification, the IRS cannot levy. There are no such notifications in the CP504.
The CP504 is not what it appears to be. Standing alone, it does not permit the IRS to levy you.
Will the real Notice of Intent to Levy please stand up?
The LT11 Notice of Intent to Levy follows the law and notifies you of the right to file an appeal action to stop the levy.

Only the LT11 provides notification of the rights to file a Collection Due Process action. It even includes enclosures and forms to file the Collection Due Process Appeal. No such forms are included with the CP504 because, well, it is not what it appears to be. It provides no appeal rights, and as a result, does not standing alone permit the IRS to levy.
Only the LT11 permits the IRS to levy your wages, commissions, bank accounts, car, and home.
In most cases, expect the IRS to send the CP504 immediately before the LT11. To be sure the IRS has not sent the LT11/L1058 out of order, I recommend that the IRS be contacted to confirm. An IRS account transcript will state if a real Final Notice has been sent, and when.

Even if the IRS cannot levy after sending the CP504, one thing is for sure: Your case is active in the IRS collection system. That means the IRS is coming.

If you have been sent the CP504, the good news is that we can confirm that we are on protected ground and the IRS cannot levy, giving us precious time to prepare before the LT11 letter is sent. An once we receive the LT11, an appeal would be filed with the IRS, stopping the levy while we negotiate alternatives, like an offer in compromise, installment agreement, or currently uncollectible status.

GET TAX RELIEF HELP TODAY
If you think that you may need help filing your 2018 tax return and past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.

Advance Tax Relief is headquartered in Houston, TX with a branch office in Los Angeles, CA. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.

Advance Tax Relief is rated one of the best tax relief companies nationwide.

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Tuesday, March 19, 2019

SIGNS THE IRS IS ABOUT TO GARNISH YOUR WAGES OR BANK ACCOUNT

Property Seizures, IRS Seizures, Revenue Officers, Substitute returns, Unfiled Returns

It’s what keeps you going from month to month – your wages, and the money in your bank account.

NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-03965



You need it to pay your bills, provide for your family, keep a roof over your head, food on the table, make your car payment.

But at the same time, you owe back taxes to the IRS, and are looking over your shoulder, concerned that the IRS may strike and clean you out.

If any of these 10 signs are true, then your fears are real, and you are indeed at risk for an IRS levy on your wages or bank account:

HAS THE IRS SENT YOU A FINAL NOTICE OF INTENT TO LEVY?

This is the grand daddy of all IRS collection notices, and is identified in the upper left hand corner as an LT11 letter.  By law the IRS has to send the Final Notice to you before they can levy.  After they send you the Final Notice, tax laws then make the IRS wait 30 days to levy. During this 30 day period, you have the right to stop the levy action by requesting that the IRS office of appeals review the case.  This is called a Collection Due Process Appeal.

But if the IRS sent you the Final Notice and you did not appeal, they can now levy you at anytime.

If you are unsure if the IRS has sent you the Final Notice of Intent to Levy, we can secure their internal records and transcripts that can tell us how real the risk of levy is.

HAS THE IRS GIVEN YOU A DEADLINE AND THE DEADLINE PASSED?

Like any good debt collector, the IRS likes putting taxpayers on deadlines.  It can be a deadline to get an unfiled tax return in, or to provide the IRS a financial statement on their Form 433A, 433B or 433F. Either way, missed deadlines raises the ire of the IRS.  And that, in turn, significantly increases the chance that they will take it out on you with a levy on your wages or bank account.  But we can get the IRS the information they are missing.

HAVE YOU BEEN CONTACTED BY AN IRS REVENUE OFFICER AND YOU DIDN’T RESPOND?

IRS Revenue Officers are the top dogs in IRS collection enforcement.  They are local, they and work where you live and work, and have your case because the IRS wants to pay really close attention to you and your tax debt.  Ignoring them is done at your peril – don’t do it.  If a Revenue Officer has dropped a card off at your house, we need to call her and move the case to resolution.  If the Revenue Officer has requested financial records or tax returns, they need to be provided.  Remember, when your head is in the mouth of the bear, say nice bear.

DO YOU CONTINUE TO OWE THE IRS EVERY YEAR?

The IRS calls this “pyramiding” – every year, the pyramid of your tax debts grows bigger.  The IRS can work with us if we stop the problem – what’s done is done.  But not getting into compliance and paying taxes going forward results in little mercy from the IRS.  Simply put, there is no negotiating to stop them when the problem has not stopped.

If you are self-employed, that means making estimated tax payments.  To do that, I recommend that we open up a new, separate bank account, and name it your estimated tax account.  Every time you get paid from a customer, we want to take a percent of that payment off the top and escrow it in your estimated tax account.  That percent is simple:  It is calculated on the ratio of your gross income to your taxes.  For example, you are paid $100,000 gross in a year, and that results in a $10,000 in taxes owed to the IRS, your tax rate is 10% of your gross income.

So every time you get paid, 10% of that check would get set aside for the IRS in the estimated tax account.  You pay as you go, pay as you get paid. Demonstrating to the IRS that you are setting money aside in an estimated tax account truly can take the sting out of past mistakes.

DO YOU HAVE UNFILED TAX RETURNS - DONT EXPECT THE IRS TO HOLD BACK

If you have unfiled tax returns, the IRS will not hold back until you get in compliance. This is like not paying year after year.  An end has to be put on the problem to negotiate out of it.  If you have unfiled tax returns, the IRS will not relent until you get them filed.  And how does the IRS get your attention to get those returns filed?  They will levy your wages and bank accounts.

Even worse, if you do not file the returns, the IRS has the law on its side in being able to start an investigation and prepare the returns for you.  The IRS calls this a Substitute for Return.  It is an IRS estimate of your tax liability, and usually result in you owing much, much more than if you filed the return on your own.  The good news is that in most circumstances the IRS will still accept the original return after they have filed a Substitute for Return.  But problems with getting your returns in is a sure-fire way to provoke the IRS into levying you.

If you have the risk factors for an IRS levy, they can be reduced or eliminated.  Even if the IRS sent a Final Notice of Intent to Levy, in most cases they will allow up to a year to file a collection due process appeal late, which will stop the levies. Missed deadlines can sometimes be renegotiated, the sooner the contact after the deadline the better.  And if you are going to miss a deadline, call and ask for more time – good faith requests for extensions are usually granted. Revenue Officers need contact, and want what you want – to close a case file.

We need to help the IRS do their job, not restrict it or make it harder.  And regardless of past mistakes, escrowing current taxes can be done, and unfiled returns can be prepared to place you in compliance.

Remember, the IRS levies for a reason.  With the proper steps, the risk factors of levy can be taken away from the IRS, and an account in the IRS’s active collection enforcement inventory can be put to rest, giving you peace from having to look over your shoulder.

GET TAX RELIEF HELP TODAY

If you think that you may need help filing your 2018 tax return and past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.

Advance Tax Relief is headquartered in Houston, TX with a branch office in Los Angeles, CA. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.

Advance Tax Relief is rated one of the best tax relief companies nationwide.

#tax #smallbusiness #taxrelief #taxresolution #freshstartiniativie #form941 #form940 #form1120s #revenueofficer #backtaxes #taxattorneys #bookkeeping #irshelp #taxpreparation #auditrepresentation #backtaxes #audit #taxliens #irslevy #wagegarsnishmenthelp

Monday, March 18, 2019

PROTECT YOUR US PASSPORT FROM THE IRS: RESPOND TO LETTER CP580C

The IRS has the power to take your wages, bank accounts, house, and even your retirement account.

Additionally, they have the power to restrict your travel.

Maybe you are getting ready to travel overseas on a business trip, or have a long-planned trip abroad to visit friends or family members. Maybe you are overseas now and want to return to the states.

NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965





If you owe money to the IRS, your travel plans can be in jeopardy.

Internal Revenue Code Section 7345 allows the IRS to revoke, deny, and limit your passport if you have unpaid taxes.

To notify you that they want to take away your passport and stop your travel plans, the IRS will send you Letter CP508C, Notice of Certification of Seriously Delinquent Federal Tax Debt to the State Department. After sending the CP508C letter, the IRS will notify the State Department of your tax debt. Then, the State Department can take action to implement travel restrictions.

Here is how to ensure that the IRS is following passport revocation laws, protect your passport, and respond to a CP508C letter to get your travel plans:

Your balance owed must be under $51,000.

IRS passport denials are limited to higher balances, which tax laws currently define as over $51,000 (adjusted every year for inflation).

If you owe under $51,000, your passport cannot be taken, and would be safe from the IRS.

Even if you owe more than $51,000, the IRS must have previously sent you a Final Notice of Intent to Levy, or filed a Federal tax lien. 
Before the IRS can levy/garnish your paycheck, your bank account, or other property, tax laws require them to send you official notice first. This is known as a Final Notice of Intent to Levy.

The IRS can also file tax liens against your property, giving the IRS security in your assets.  If you have a house, and the IRS files a tax lien, the lien would be similar to a mortgage on your house.

Here is how levies and liens are important to your passport:  The Final Notice of Intent to Levy or tax lien must be sent at least 30 days before the IRS mails the CP508C letter. Even if you owe over $51,000, if the notice of intent to levy or tax lien has been sent, your passport is protected from the IRS.

If the IRS has sent either the Final Notice of Intent to Levy or the CP508C letter within the last 30 days, tax laws permit an appeal to be filed to dispute the IRS filing. This is known as a collection due process appeal. While the appeal is pending, any action against your passport is put on hold and it is protected.

If you are unsure whether the IRS has sent you a Final Notice of Intent to Levy, or filed a tax lien, they can be contacted for a full background check to confirm the status of your account.

Get an installment agreement with the IRS.
The IRS wants what you want – to have your account in good standing, rather than in active collection status with potential levies on your accounts and liens against your property.

An installment agreement not only stops the IRS from levying, but it will fix your passport issue.

The IRS offers many different installment agreement options, including streamlined agreements to partial pay installment agreements.

Streamlined installment agreements are designed to repay your liability in full, and require no financial disclosures about where you work, bank, or of your property.  They are available on balances under $100,000, and require full payment of your taxes over as much as 84 months.  This represents the IRS opening itself up to simplifying the process of resolving your account and passport.

Partial pay agreements require the IRS to accept payment terms even if you cannot pay them back in full.  In other words, you do not have to repay the IRS to keep your passport, just have a payment plan in place.

Put your IRS debt in “currently not collectible” status.
If you are unable to make any payments to the IRS, you can still protect your passport. If this can be proven to them, the IRS can agree that no payments are required. The IRS calls this “currently not collectible,” which not only places your account in good standing so you can travel, but stops the IRS from coming after your wages and accounts.  Once you are in currently not collectible status, your passport should not be taken, and if you have received the CP508C, it should be returned.

File an offer in compromise to settle your IRS debt.
An offer in compromise is used by the IRS to settle your debt and give you a fresh start.  If the IRS accepts an offer in compromise, you will no longer owe them any money. They will not be able to levy your wages or property and will have no claim to your passport.

But it can take the IRS between 12-18 months to process, investigate, and accept an offer in compromise.  However, if the IRS has already sent the CP508C, the compromise must be accepted before the IRS will take action to return your passport.  Conversely, if you have not yet received the CP508C passport revocation letter, filing a compromise now will prevent the IRS from sending it.

Dispute the amount you owe the IRS.
Remember, tax laws permit the IRS to come after your passport only if you owe over $51,000.

But what if the IRS has you owing over $51,000 and you believe it’s wrong?

This can occur when you disagree with an IRS audit or when you do not file your tax returns and the IRS files estimated returns for you.  These estimated tax returns, known as Substitute for Returns, usually overstate your taxes as you are not given proper deductions.

We can request the IRS to reopen an incorrect tax estimation, take another look at your records, and lower the amount you owe.

If the IRS has filed Substitute for Returns, the original returns can be prepared and filed to correct and reduce your taxes.

The end result is if your real balance should be under $51,000, and we correct it and the IRS agrees, your passport will be restored.

Bankrupt your taxes so you no longer owe the IRS.
Bankruptcy can wipe out an IRS tax debt.  Currently, the IRS will restore your passport if you file a bankruptcy which results in eliminating your IRS liability.

In most cases, there are two bankruptcy options for you:  A Chapter 7 and a Chapter 13.  A Chapter 7 bankruptcy usually takes 3-5 months to complete, much shorter than that of an offer in compromise, while a Chapter 13 takes 3-5 years.  Generally, a Chapter 7 bankruptcy would be for you if you cannot afford to repay your taxes and any other debts.  If you have extra money at the end of every month, you would likely be able to only file a Chapter 13.

File a request for innocent spouse relief, using IRS Form 8857.
The IRS can grant you relief from a joint tax liability under Federal innocent spouse laws.  This takes you off the taxes of a current or former spouse.

Once you have filed your innocent spouse claim and it has been processed by the IRS, they will be prevented from taking your passport, and will have return it back to you while they investigate your innocent spouse claim.

There are three primary ways to qualify for innocent spouse relief.

First, you could be eligible for tax relief from your spouse’s taxes if you are widowed, divorced or legally separated from your spouse, or living separately from your spouse, in the 12 months before filing the innocent spouse claim.  If so, passport action by the IRS would stop.

Alternatively, if the tax is owed from an IRS audit of tax return, and we can show the IRS that you had know reason to know that your spouse’s part of the return was wrong, the IRS can release you from the taxes, grant innocent spouse relief, and return your passport.

Lastly, you can also get innocent spouse freedom from another’s taxes if you can show the  IRS that it would be unfair to hold you responsible for payment.  Fairness includes domestic/spousal abuse against you, fraud, hardship to you to repay the taxes, and whether you received a benefit from the taxes not being paid.

When the IRS comes after your passport, it is natural to be overcome by fear and terror. Fortunately, there are paths to getting you back on the road, to travel out of the country for business or personal, see friends and family members, or simply travel for pleasure.

IRS passport revocation is designed to grab you attention, but there are many remedies to this powerful IRS enforcement program.  Some solutions (currently not collectible, bankruptcy, innocent spouse relief) do not even require repayment in exchange for a return of your passport.  Other types of passport resolution are focused on correcting the liability and bringing it under $51,000, settling your debt with a compromise, or entering into an installment agreement.  The IRS does not have to stand in the way. Your passport can be returned.

GET TAX RELIEF HELP TODAY

If you think that you may need help filing your 2018 tax return and past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.

Advance Tax Relief is headquartered in Houston, TX with a branch office in Los Angeles, CA. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.

Advance Tax Relief is rated one of the best tax relief companies nationwide.

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Friday, March 15, 2019

YOU RECEIVED IRS NOTICE LT16? HOW TO RESPOND AND PREVENT AN IRS TAX LEVY

You just received IRS Notice LT16, warning that your unpaid taxes have been assigned for immediate enforcement action.

The letter gives you three options: (1) within 10 days, send a check to the IRS to pay your taxes, (2) call the IRS to make payment arrangements, or (3) face the prospect of an IRS levy on your wages and property.

NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965




Everything has been quiet on the IRS front for a while, but suddenly, now, it appears the IRS is getting ready to rear its ugly head.

Let’s get to the realities of the LT 16 letter, and your best responses to protect your property from an IRS levy.

First, the LT16 notice, standing alone, does not permit the IRS to levy your wages or seize your property. Sure, the letter states that the IRS is getting ready to wipe you out, but IRS letters often threaten collection action that they cannot actually legally take.

Here’s the truth behind the LT16: Before the IRS can levy your property, they must first send you a Final Notice of Intent to Levy, identified as Notice LT11. An LT16 is not an LT11, and does not carry the same legal weight.

The IRS has been known to send the LT16 before the LT11. When this happens – which could be your situation – the LT16 gives the IRS no power to levy.

In other words, the LT16 should be taken seriously, but is there any meat behind it?

After receiving an LT16, it is important to not blindly call the IRS out of fear, but to first determine if an LT11 was ever sent.

To know if an LT11 was sent, we would first review all the IRS letters you have received to determine if you have a Final Notice of Intent to Levy, distinguishing it from other similar IRS letters that appear to put you in jeopardy of levy but actually do not.

If you are unsure that you have all your IRS mail – or more importantly, just to be safe – we would contact the IRS and request transcripts, which would have internal IRS entries stating if the Final Notice of Intent to Levy was ever sent to you, and if so, when.

If a Final Notice of Intent to Levy was issued, we could still stop the IRS from levying by filing a Collection Due Process Appeal. If filed within one year from the date of the LT11, these appeals not only prevent the IRS from levying, but also transfer your case from the IRS Collection Division to their Office of Appeals. That means we are no longer negotiating with collection agents, but IRS Settlement Officers.

Also, it is important to recognize that the LT16 is often an indicator that the IRS is transferring your case from its Automated Collection Service to a local Revenue Officer. Revenue Officers are the highest level IRS collection agents, work in your city, and often start a collection case investigation by making a visit to your home or office.

Because the IRS may be gearing up to transfer your case to a Revenue Officer, they should be contacted to confirm where your case is in their collection queue, and if the case is being assigned to a Revenue Officer. If a Revenue Officer is in your future, remember that the IRS still needs to send the LT11 to empower the RO to levy, and if it has been sent, you may have appeal rights to prevent financial hardship.

If Revenue Officer case assignment is pending, then now is the time to prepare, to be ready when the RO comes calling. That means getting a head start in preparing financial statements, using IRS Form 433A or Form 433B, to demonstrate to the Revenue Officer how you can repay the taxes. The Revenue Officer will want to see current income, monthly living expenses, a listing of assets, and written verification of debts. After providing the financial statements, the Revenue Officer could place you into an installment agreement, process an offer in compromise, or determine that you cannot afford to pay the taxes back, and place your account in currently uncollectible status.

Steps should also be taken to ensure that you are in compliance with tax return filing requirements, and paying your current tax liabilities. That, too, will be an early requirement of the Revenue Orficer.

Lastly, know that an LT16 is not sent by a human, but an IRS computer. When an LT16 is sent, there is not an IRS agent shining a bright light on you, watching, waiting for your call, or getting ready to pounce on your assets. That may come later, with assignment to a Revenue Officer and issuance of the LT11, but for now everything is tied to a computer. Any immediate levy action is determined by the success of the IRS computer in trying to find information about your income from W2 and 1099 reporting. In that regard, if the IRS has no information on your current income, or the information is old and outdated, your immediate levy risk is likely minimal even if an LT11 has been sent.

The IRS LT16 notice of pending enforcement gives us a heads-up that the IRS is getting ready to gear up, and that all may not be quiet on the IRS front for a while. But understanding your rights to protect your wages and property – and to know what’s coming and prepare – can help you make it through, reach resolution with the IRS, and get on with your life.

GET TAX RELIEF HELP TODAY

If you think that you may need help filing your 2018 tax return and past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.

Advance Tax Relief is headquartered in Houston, TX with a branch office in Los Angeles, CA. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.

Advance Tax Relief is rated one of the best tax relief companies nationwide.

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Tuesday, March 12, 2019

WHAT IS AN IRS TAX LIEN AND WHY DOES THE IRS FILE THEM ON TAXPAYERS WITH BACK TAXES?

What is an IRS Tax Lien?

A tax lien is the government’s legal claim to your property including property you obtain or have rights to in the future for the amount of the tax liability. The IRS files tax liens to secure payment of delinquent tax debt. When the IRS files a tax lien, it appears on your credit report, and it attaches to just about everything you own (automobile, house, and other assets).

If you sell your property, the IRS has the right to take the proceeds of the sale to cover your tax debt, interest, and penalties.

NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB A+ RATED
CALL (713)300-3965




The IRS’s Cincinnati campus hosts the Centralized Lien Operation. It is part of the IRS’s Small Business/Self-Employed Campus Compliance Services Operations (CCSO). It sends out Notices of Federal Tax Lien (NTFL) and Federal Estate Tax Lien. They process all lien notices and releases.  Moreover, they also assist IRS personnel in the field with processing withdrawals, refiles and revocations.

When the IRS Imposes Tax Liens

If you owe more than $10,000 and you have failed to respond to the IRS’s first balance due letter, the IRS usually issues a tax lien. In rare cases, the IRS may file a tax lien on tax debts worth less than $10,000.

How the IRS Tax Lien Process Works

The IRS files a tax lien if the situation meets the following conditions:

The IRS assessed you with a tax liability.
The IRS sent a notice to demand payment.
You did not pay the debt in full within ten days after the IRS notified you of tax liability.
Once the IRS takes these three steps, the agency can file a Notice of Federal Tax Lien for the amount of taxes owed plus interest and penalties.

Once the IRS files the NTFL document with a local county recorder of deeds or the Secretary of State, it applies to any assets you own now or in the future.  It notifies your creditors that the IRS has a legal claim to your current and future assets.

The NTFL is a document that can identify up to fifteen different tax liabilities assessed against you or your business.  It contains the last day the IRS can refile for each tax liability, which is usually ten years from the date the IRS assesses the liability plus 30 days.

Adverse Effects of a Federal Tax Lien
A tax lien also appears on your credit report with the consumer credit reporting agencies. That can lower your credit score and make it extremely difficult to borrow money.

To explain, imagine you want to borrow money to buy a home. When you take out a mortgage, the bank has your home as collateral. Therefore,  if you cannot pay your mortgage, the bank can take the property. However, if the IRS has filed a tax lien on your assets, the IRS has a priority claim over the mortgage company. It makes it risky for the bank to lend you money, and as a result, lenders usually turn down loan applications when you have a tax lien on your credit report.

It doesn’t just apply to mortgages. Federal tax liens make it extremely difficult to get car loans, take out new credit cards, or rent a home or apartment.

Property Subject to Tax Liens
A federal tax lien attaches to all property owned by the taxpayer as well as all property rights. That includes tangible as well as intangible property. It also consists of all future purchases and gifts you receive after the IRS files the lien.

Here are some common types of assets affected by tax liens:

Houses or other property
Motor vehicles
Accounts receivable (bills due to your company)
Rental income
Securities such as stocks and bonds
Getting a Tax Lien Removed
Tax liens stay in place until you pay your tax debt in full, the statute of limitations on collection expires, a bond guarantees payment or you fulfilled payments terms with an Offer in Compromise the IRS accepted. The IRS can also withdraw a tax lien if you make three successful payments on a direct debit installment agreement. However, a withdrawal is not the same thing as a tax lien release. If the IRS doesn’t withdraw your tax lien automatically, you need to contact the agency directly to request a withdrawal.

It is essential to understand that the Notice of Federal Tax Lien tells you your assessed balance but does not include charges for filing and releasing the lien.

The purpose of the tax lien is to convince you to pay your tax debt. Luckily, the IRS has various payment plans, settlement options, and penalty relief programs that make it easier to pay off your debt. To find out which option is best in your situation, contact one of our tax resolution specialists by calling for a free consultation.

GET TAX RELIEF HELP TODAY

If you think that you may need help filing your 2018 tax return and past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.

Advance Tax Relief is headquartered in Houston, TX with a branch office in Los Angeles, CA. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.

Advance Tax Relief is rated one of the best tax relief companies nationwide.

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