YOU OWE THE IRS
LET'S MAKE A DEAL
The IRS (Internal Revenue Service) has many enforcement tools (collection hammers) that allows them to collect money for the Federal Government. We all know that during this economic downturn, struggling taxpayers are barely making ends meet and that the Federal Government (and States) is broke. If you owe the IRS money for a back tax debt, you should expect the IRS to be overly aggressive in their collection efforts.
DON'T LET THE IRS HAMMER YOU
GET A FRESH START
GET A FRESH START
The IRS will start the enforcement or collection process with Notices generated from the Automated Collection System (ACS). Later, in the IRS Collection process, an IRS Revenue Officer (RO) may be assigned to your case. That Revenue Officer may leave a card on your door at your home. Or, the Revenue Officer may make an unannounced visit your place of business.
A Revenue Officer may levy your bank account, savings account or may garnish your paycheck. Your Social Security benefit may very well be levied. A Revenue Officer (RO) also has the power to shut down a business as well as seize your assets such as your home. You may be surprised to find out that the IRS has filed a Tax Lien with your County Recorders Office or County Court House.
The above IRS collection actions will not happen all at once. These IRS enforcement actions will not happen after the 1st IRS Notice that is generated from the Automated Collection System (ACS).
An IRS Wage Levy, an IRS Bank Levy, an IRS asset seizure or a Federal Tax Lien can happen at any time after an IRS letter "Final Notice Before Levy" has been sent. PLEASE NOTE: You do not have to receive this Notice. It is only important for the IRS to have sent it. The Final Notice Before Levy may have been sent to a previous address of yours.
An IRS levy, federal tax lien or asset seizure usually happens when there is a breakdown in communication between the Revenue Officer (RO), you and/or your designated power of attorney.
CONSULT WITH AN
EXPERIENCE IRS TAX ATTORNEY
If you owe the IRS money, you really should consult with an experienced IRS Tax Attorney. You have Rights. You can be protected. If you have temporarily had your Rights taken away due to delinquent tax returns or unfiled tax returns, this IRS problem can be remedied. An experienced IRS Tax Attorney, who regularly practices before the IRS, can advise you of your Rights and present you with the options that will be available.
Your IRS Tax Attorney will act as a buffer between you and the IRS and this will allow you to lower your anxiety, as well as give you the freedom to concentrate on earning a living. You should not be engaging the IRS on your own. Inevitably you will say the wrong thing and it will come back to harm you. The IRS is the most powerful collection agency in the world. You do not stand a chance on your own. You may think you resolved your problem, but you probably agreed to a "bad deal." An IRS Tax Attorney who is experienced in handling IRS problems can explain IRS policies and procedures and will assist you in developing an action plan for resolving your back tax debt.
|IRS Tax Debt|
DO YOU OWE THE IRS THE MONEY
The 1st and most important step in resolving an IRS tax debt is to determine whether or not you "you owe the money." A review of your tax returns and IRS letters and notices will be necessary to determine if the amount of your tax debt is correct. If all that information is not available from your records, your IRS Tax Attorney will have the Revenue Officer provide them from the IRS computer. The Revenue Officer will not have copies of documents but he/she can secure computer printouts of the pertinent information. IRS Revenue Officers have busy case loads and do not spend much time researching for taxpayers. a print out of your tax account information is available to taxpayers and the authorized representatives and it will not be necessary to go through the Freedom of Information Act.
WHAT ARE YOUR OPTIONS?
Once the amount of your back tax liability is known to be correct, it will be time to discuss the options available to you for either payment or tax resolution. The most common options are to negotiate an Installment Agreement, prepare an IRS settlement through the expanded Fresh Start Offer in Compromise program or being declared to be Currently not Collectible. The method to be chosen will be determined by your personal facts and circumstances. Each of your options has its advantages as well as disadvantages and you will have to weigh the pro and cons carefully in the light of your own individual or company circumstances.
- An IRS Installment Agreement - The Internal Revenue Code requires all taxpayers pay their taxes either through their payroll withholding or through estimated tax payments. If your tax debt is not paid in full, the IRS will start collection activity. The IRS has the authority to grant, with restrictions, an Installment Agreement.
Before the IRS will negotiate an Installment Agreement, you will need to comply with the following:
- All income and employment tax returns currently due must be filed and paid timely.
- All current taxes must be paid on time.
- The Revenue Officer will want you to show that you do not have the ability to borrow from outside sources such as a bank or relatives.
- The Revenue Officer may require that any net equity in assets be converted to cash and applied to your back tax debt.
If you owe more than $25,000, you will be required to complete a Form 433A (Collection Information Statement for Individuals) or a Form 433B (Collection Information Statement for Business). These forms are signed under penalty of perjury. The Revenue Officer will use these forms to determine the type and location of your assets as well as your cash coming in and flowing out.
The Revenue Officer will check these forms for accuracy. A Revenue Officer will check the credit bureaus, the court houses, the departments of motor vehicles, state agencies and other Federal agencies. The Revenue Officer will use this information to determine if all of the assets and liabilities that you listed are valid and also to determine if you have assets that can be levied, seized and sold.
DO NOT NEGOTIATE ON YOUR OWN
The cash flow section of the 433A Form will be used by the Revenue Officer to determine what your Installment Agreement will be. Don't be surprised if the Revenue Officer "grinds" you concerning your rent, your utilities, groceries and will make recommendations that you reduce the amounts spent on "essentials" so that the IRS can have a larger payment.
Other expenditures such as tithing, contributions, cosmetics, clothing, dancing or gym classes, college tuition and what the IRS calls "optional" expenses may not be allowed by a Revenue Officer. This is where an experienced IRS Attorney can really help you. The IRS provides a Revenue Officer no hard guidelines and a Revenue Officer's decision is based on their own judgement.
OFFER in COMPROMISE
Fresh Start Offer in Compromise -The Offer in Compromise program is an old procedure that has been expanded this year to include more taxpayers who are struggling financially. The IRS Fresh Start Initiative has made the eligibility requirements easier for struggling taxpayers to qualify. The IRS has eased its requirements for submitting, investigating and approving an eligible Offer in Compromise. A taxpayer who is having a "tough go of it" would be silly not to take advantage of the IRS settlement program known as the Fresh Start Initiative.
There are 3 types of Offer in Compromise:
- Doubt as to collectibility
- Doubt as to liability
- Effective Tax Administration
LET'S MAKE A DEAL
If you have few if any assets such as a home with equity, real estate, stocks, bonds, retirement funds or other investments, submitting an IRS settlement through the Fresh Start Offer in Compromise may be your viable solution to your back tax debt.
If you are at an age and/or an income level where your back tax debt will never be paid in full, an IRS settlement through the Offer in Compromise program is just the way to resolve your tax liability.
There has been much written this year regarding the Offer in Compromise program. The IRS Commissioner, Douglas Shulman, has made announcements proclaiming an easing of the eligibility requirements for Offers.
|IRS Tax relief Consultations|
I am Dave Rosa, the V.P. of Client Relations at Flat Fee Tax Service, Inc. Your free and confidential consultation will be provided by me. It is my duty to you, as well as Flat Fee Tax Service, Inc., to provide your with a straightforward and honest evaluation of your IRS problem. During your consultation we will provide you with an action plan to resolve your tax debt. After you become our client, our experienced Tax Attorneys will immediately contact the IRS and take the necessary steps to stop a levy, place your case on a collection hold and start the process to get you a fresh start through a tax relief program.
WHY FLAT FEE SERVICE, INC WHEN YOU OWE THE IRS:
- We Are Guided by Christian Values and Principles
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FLAT FEE TAX SERVICE, INC. FEES:
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