10 Tips If You Owe IRS Taxes From Former IRS Agent

I am a former IRS Agent of 10 years and have practiced IRS Tax Law for over 28 years. Here are some good tax tips if you cannot pay your IRS tax debt.
By: Fresh Start Tax, LLC
 
March 29, 2011 - PRLog -- I am a former IRS Agent of 10 years and have practiced IRS Tax Law for over 28 years. Here are some good tax tips if you cannot pay your IRS tax debt.


My 10 Golden Tips

1. The IRS has Publication 594 -  For the do-it-your-selfers, read the IRS Collection Process which talks about what to do if you cannot pay your taxes on time. It is comprehensive and thorough. An easy read.

2. If you did not file your tax returns, file them immediately. The IRS will request this before the case is worked and closed.

3. If on the unfiled tax returns you owe tax (married filing jointly), make a decision whether or not to include both husband and wife on the liability. Sometimes it is better to only have one party responsible for the tax.

4. If you owe less than $25,000, you can get a streamline agreement automatically. Just call the automated service at the IRS, 1 800 829-1040, to make the arrangements.

5. Make sure you do some asset planning before calling the IRS.

6. If you have a pension, 401K or IRA, the IRS will ask if you can liquidate it to pay the taxes. Find out beforehand if you can liquidated any of these and what are the consequences of doing so.

7. Find out whether you qualify for an Offer in Compromise. An OIC can suspend IRS collection action.

8. Make sure you are current for withholding or estimated payments in the current year of the tax problem.

9. Four million taxpayers pay their taxes using an installment agreement. Find out the criteria for a payment agreement before you call the IRS. Do not call the IRS without first having a plan.

10. If you owe payroll taxes, Form 941, the IRS will not work with you until you are current on all taxes and all tax returns are up to date, including your personal income taxes.


If you are having IRS problems make sure you call a true IRS tax professional for the best results.

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Fresh Start Tax is one of the premier tax resolution firms in the country. We deal with all types of civil cases including individuals, businesses, non-profits, partnerships and corporations. We have staff that specialize in every facet of IRS representation. We know all the IRS tax strategies because of our extensive IRS working backgrounds. Some of our many specialties include the following:

* Immediate IRS Tax Representation
* Offers in Compromise/ Tax Settlements/Debt Settlements
* Immediate Release of Bank Garnishments or Wage Levies
* IRS Bill/Notice of "Intent to Levy" or Final Notices
* Dealing with IRS Certified Mail
* IRS Tax Audits, Large, Small Dollar
* Hardships Cases / Unable to pay at this time
* Payment Plans, Installment Agreements/Streamline
* Innocent Spouse Relief
* Abatement of Penalties and Interest
* Payroll/ Trust Fund Penalty Cases/ 6672
* Non-filers, never filed, old and past due tax returns
End
Source:Fresh Start Tax, LLC
Email:***@freshstarttax.com Email Verified
Zip:33308
Tags:Owe Irs, Tax Problem, Irs Collection, Unfiled Tax Returns, Irs Pub 594
Industry:Tax resolution
Location:Fort Lauderdale - Florida - United States
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