Platinum Tax Defenders:New Taxes in the 2013! Urging Back Taxes Settlement Before2010Laws Are Signed

Jan. 2, 2013 - PRLog -- The result of an agreement on the 2010 Patient Protection and Affordable Care Act will be increased taxes at every level of income. Platinum Tax Defenders encourages tax resolution for those who owe back taxes before rates increase.
Most medium income households face an average increase of $2,000 in taxes this coming year, says the Urban Institute and Urban-Brookings Tax Policy Center. From low income to higher income brackets, American households will pay out an average of an extra $3,500 in taxes between the expiration of 2001 and 2003 tax cuts, expiring 2009 tax credit expansions (for low income earners), increased Alternative Minimum thresholds, and the increase of marginal tax rates. Investors in the stock market will be faced with an increase of "20 percentage points on qualified dividends". (http://tax-resolution.me/)
The deduction threshold on medical bills will increase from 7.5% of adjusted gross income to 10%, which means it will be more difficult to justify out-of-pocket expenses to the IRS. A $2,500 Flexible Spending Account cap is also written in, which means that households with special needs children or orthodontic needs depending on an FSA plan should seek additional ways to cover costs. "HSA's" (Health Savings Accounts) are no longer an option for non-prescription medication.
Householders hit with a tax increase may be tempted not to pay taxes in 2013, especially if back taxes are already owed, but this would be a mistake, says a Platinum Tax Defender specialist. Under the SFR ("substitute for return") provision, the IRS is allowed to file taxes in lieu of either filing or payment when a strong possibility exists that taxes may be owed. After notification to the taxpayer, the IRS can review prior year returns and current year wage transcripts (filed by any employer who pays over $700 to an employee), and file a return without deductions, credits or withholdings. Essentially, says the specialist, it's "the worst tax return you have ever seen." Collection action can be taken by the IRS once the SFR in in process, from bank levies to wage garnishment.
It's possible to negotiate with the IRS or file a Collection Appeal, but interaction with the IRS can be time-consuming and all-encompassing for the average taxpayer. In addition, a Collection Appeal is a binding measure determined by the IRS Appeals Office, without possibility of review from a court of law. Often, a federal tax lien is open to appeal after property has been seized, which makes tax resolution services (http://tax-resolution.me/tax-resolution-services) an attractive alternative to delays and property seizure.
In light of 2013's increased tax and medical costs, and the possibility of an SFR for those not filing taxes, Platinum Tax Defenders encourages households with existing tax liabilities to have their liability assessed and settled before the new year is underway. With a qualified tax resolution professional, it's possible to settle a tax liability for less than the amount owed.
Platinum Tax Defenders offers a free consultation by phone, without further obligation, so that taxpayers can be informed of their rights and possible solutions. Platinum Tax Defenders has a dedicated team of 10 professionals (including tax attorneys, CPA's and former IRS agents) with a ten-year track record of stopping bank levies and removing tax liens. Most initial consultations range from 20 to 45 minutes, in which a qualified tax resolution professional can examine the specifics of the situation and offer strategies for dealing with the IRS.
For more information from Platinum Tax Defenders on stopping property seizure and getting back tax help (http://tax-resolution.me/back-tax-help),
call 1-877-668-1807 or send an email to info@tax-resolution.me.
http://tax-resolution.me/

Tusana.net