IRS Installment Agreement – IRS Payment Plan Revoked – Flat Fee Income Tax Relief Help

The IRS will allow a taxpayer to pay off an income tax debt through an installment agreement. Because interest and penalties will apply. The IRS encourages taxpayers to pay taxes immediately because the IRS is a collection agency. To “encourage” a taxpayer to pay off their past due to income tax debt, interest and penalties will be added and can equal 8% to 25% per year. If you do nothing, your overdue income tax debt could double in 4 years.

For most financially struggling taxpayers the thought of paying the entire income tax debt all at once is not possible. An installment agreement is an alternative allowed by the IRS. The IRS has four different types of installment agreements: guaranteed, streamlined, partial payment, and non-streamlined.

BEFORE YOU AGREE TO AN IRS PAYMENT CONSULT WITH AN EXPERIENCED IRS TAX RELIEF EXPERT

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Guaranteed IRS Installment Agreement

To qualify for a guaranteed installment agreement with the IRS, the taxpayer must meet the following conditions:

  • Owe less than $10,000, (not including interest and penalties);
  • In the previous five years, the taxpayer has filed tax returns, paid taxes owed, and has not entered into an installment agreement;
  • The taxpayer is unable to pay the tax liability when due;
  • The tax liability will be paid off within three years; and
  • The taxpayer must pay at least the minimum monthly payment (tax liability, interest, and penalties divided by 30)

Under this payment plan, the IRS will not file a federal tax lien against the taxpayer.

The IRS Streamlined Installment Agreement

In most cases, a taxpayer that qualifies for a guaranteed agreement will also qualify for the streamlined installment agreement. A streamlined installment agreement has the following requirements:

  • The tax liability, interest, and penalties do not exceed $25,000;
  • The balance can be paid off within 60 months; and
  • The proposed payment is equal to or greater than the “minimum acceptable payment” (the minimum acceptable payment is the greater of $25 or the minimum payment amount reached by dividing the tax liability, interest, and penalties by 50)

The taxpayer must pay a fee of $105 to set up the installment agreement or $52 for a direct debit installment agreement. To restructure or reinstate a previous installment agreement, the IRS charges a $45 fee. Like a guaranteed installment agreement, the IRS does not file a federal tax lien.

IRS Partial Payment Installment Agreement

A partial payment agreement allows the IRS to enter into agreements with taxpayers for the partial payment of a tax liability. To qualify for this arrangement, the taxpayer must complete a financial statement using Form 433-F to report income and living expenses. The IRS will review and verify the information. If the taxpayer has assets that can be sold to pay some of the tax debt, the IRS will require the taxpayer to provide additional information.

If approved, the taxpayer will be required to participate in a financial review every two years. This review may result in the increase in installment payments or the termination of the agreement.

IRS Non-Streamlined Installment Agreement

If a financially struggling taxpayer owes $25,000 or more and can make monthly payments to the IRS, a non-streamlined agreement can be an option. The IRS will not automatically approve this agreement; instead, the taxpayer must negotiate with the IRS by providing detailed financials. The taxpayer must file Form 433-F, Collection Information Statement. This form collects information about income, debts, living expenses, assets, accounts, and allows the taxpayer to propose an installment payment amount.

It will usually take a few months for the IRS to review a proposed payment plan. The IRS may refuse a proposed agreement if it considers some of the taxpayer’s living expenses unnecessary, if the untruthful information was provided, or if the taxpayer failed to complete a prior installment arrangement.

If a taxpayer is unable to pay a tax liability through a non-streamlined agreement, consider filing an Offer in Compromise.

BEFORE YOU COMPLETE A FINANCIAL FOR THE IRS

CONSULT WITH AN EXPERT IRS TAX PROFESSIONAL

Ways the IRS Will Accept Payments

Taxpayers can make installment payments in the following ways:

  • Payroll Deduction
  • Direct debit
  • Check or money order
  • Electronic Federal Tax Payment System (EFTPS)
  • Credit card
  • Online Payment Agreement (OPA)

When Will the IRS Revoke an Installment Agreement

The IRS can revoke an installment arrangement under the following circumstances:

  • The financially struggling taxpayer misses a payment;
  • The financially struggling taxpayer does not file a tax return or pay taxes after the agreement is entered into ;
  • The financially struggling taxpayer provided inaccurate information on Form 433-F; or
  • The financially distressed taxpayer is paying under a partial payment installment agreement and a review indicates a change in their financial position.

BEFORE YOU AGREE TO AN IRS INSTALLMENT PAYMENT PLAN

FIND OUT IF YOUR CURRENTLY NOT COLLECTIBLE

FIND OUT IF YOU ARE QUALIFIED FOR AN IRS SETTLEMENT

DO NOT AGREE TO PAY THE IRS MORE THAN YOU NEED TO PAY

CONTACT FLAT FEE TAX SERVICE, INC.

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Stop IRS Wage Garnishment – Flat Fee Tax Service Inc. – Same Day IRS Help

At Flat Fee Tax Service, Inc., our IRS wage garnishment customers have had their IRS wage stopped, released and removed in one (1) business day. Our team of IRS income tax relief experts doesn’t send mail to resolve your problem. Our IRS Tax Attorneys pick up the phone and handle your IRS wage levy problem immediately.

Flat Fee Tax Service, Inc. can do this because our company of motivated professionals specializes in understanding exactly how the IRS works and what vital documentation is needed.

IRS wage garnishments and IRS Levies will be stopped, released and removed in one business day if done properly. One has to realize that the last resort the IRS utilizes is a wage garnishment or levy. This is one of the most lethal weapons available to the IRS. There are several ways to have the levy or garnishment released.

The first thing that has to be done is to verify that the taxpayer is in compliance with the IRS. Being in compliance means that all outstanding and missing tax returns for every year have been filed with the IRS. Those tax returns include 1040’s, 1099’s, quarterly estimated tax payments, 940/941’s depending on the particular situation of the taxpayer.

The first thing to do in order to determine if you are in compliance with IRS regulations is to immediately contact the IRS upon receipt notice of an IRS garnishment or levy. Be advised that you need to be extremely cautious (the IRS is not your “buddy”) when contacting the IRS in regards your IRS income tax problem. Before the IRS will give you any information on your compliance, they will immediately interrogate you, trying to find out what bank accounts you have, what other incomes you have and the assets you own. This is all in an effort to begin to levy, garnish or seize any assets the taxpayer may have. This is one of the main reasons why an IRS tax professional should contact the IRS on behalf of the financially struggling taxpayer. An IRS Tax Attorney does not have to release that personal information to the IRS. Your representative’s goal at this point is to determine if the taxpayer is in compliance with the IRS.

Everything is determined by the IRS computers and the automated collections system (ACS). The only way to be brought into compliance is by filing all years that were not filed. Depending on what the computer states, you may have to file 6 year’s worth of IRS tax returns or they may even go back to 15 year’s worth of taxes. This is why the IRS must be contacted immediately to figure out what needs to be done to bring the taxpayer back into compliance.

If there are compliance issues, the IRS will inform the tax professional or the taxpayer what taxes must be filed. It is important to prepare these taxes, but not to mail them in. They need to be faxed to the IRS so they are acknowledged in the IRS computers immediately and the processing of these returns can start within hours, not weeks or months. Normally, the IRS will not release the wage garnishment until the tax returns are at least submitted for processing to the IRS.

Our IRS Tax Attorneys Have Had Great Success in Stopping an IRS Levy Prior to Filing Missing Tax Returns

If necessary, the tax return department at Flat Fee Tax Service, Inc. can expedite the preparation of your tax returns. Once it is determined that a taxpayer is in compliance, the next thing the IRS is looking for is a resolution to the outstanding income taxes owed to the IRS. A taxpayer will either need to enter into an Installment Agreement, be declared to be Currently not Collectible (CNC) or file an Offer in Compromise settlement (OIC).

Should the financially struggling taxpayer owe more than $25,000, the IRS will request your financial information through certain IRS Forms in order to determine how much, if anything, the taxpayer can afford to pay towards the entire income tax liability. If your file is being handled in the automated collections division, an IRS 433F form (a simplified Collection Information Statement) has to be prepared and submitted along with supporting documentation. If the file is with an IRS Revenue Officer, an IRS 433A form (a detailed Collection Information Statement) has to be prepared and filed with the Revenue Officer, also along with the supporting documentation. The IRS has many years of experience in squeezing uninformed taxpayers and the IRS knows that in 90% of the cases, the wage garnishment or IRS levy is a hardship on the taxpayer, and the proper procedure is that after submitting these financials, the IRS should release the wage garnishment within hours. Unfortunately, some taxpayers try to perform this procedure by themselves. Without an experienced tax professional involved, the IRS will simply drag their feet and prolongs the taxpayer’s agony because it is the IRS’s position to take this drastic action due to the fact that the taxpayer did not comply with any of their prior requests. The IRS tax professional you chose to represent you should force the IRS to comply with the rules and regulations to have these matters expedited within hours and not weeks or months.

WHEN YOU NEED THE BEST IRS INCOME TAX REPRESENTATION

GET THE BEST

FLAT FEE TAX SERVICE, INC.

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VERY, VERY IMPORTANT: There is a second method of having an IRS wage garnishment or IRS levy stopped, removed and released. Our IRS Tax Attorneys will initiate procedures to prove to the IRS that this IRS wage garnishment is a true and immediate hardship to the taxpayer. A hardship to the taxpayer is that housing, transportation or food expenses are at an immediate risk; i.e. if your electricity is about to be disconnected, and you can provide a statement from your service provider showing that your electricity is being shut off due to non-payment or if you are able to provide an eviction notice or foreclosure notice due to non-payment the same method applies. Asking the IRS to release the wage garnishment based on these facts is a very difficult task because the IRS is receiving nothing in return providing a solution to the outstanding taxes. This is an uphill fight with the IRS but the IRS is supposed to follow procedures and in most situations, the taxpayer is unable to resolve this issue without a tax professional.

FLAT FEE TAX SERVICE, INC.:

  1. Our Christian Values is why we do not have Client Complaints.
  2. Accredited by the Better Business Bureau. A Plus Rating. Check out our BBB testimonials.
  3. Our IRS Tax Attorneys work directly with you throughout your IRS resolution.
  4. Low, Affordable Fees.
  5. Stop, Remove, Release IRS Garnishment in One Day.
  6. 90% of our Client who has submitted an IRS Settlement have received a successful Offer in Compromise.
  7. Get the Fresh Start That You Need and Deserve.

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IRS Taxpayer Forgiveness Program – New IRS Effort to Help Struggling Taxpayers Get a Fresh Start – Major Changes Made to IRS Lien Process

The IRS current effort to help struggling taxpayers, the Internal Revenue Service announced in 2011 a series of new steps to help taxpayers can get a fresh start with their overdue income tax liabilities. In fact, the IRS program is called “the Fresh Start Initiative.”

The goal of the IRS is to help individuals and small businesses meet their tax obligations, without adding unnecessary burden to taxpayers. Specifically, the IRS is announcing new policies and programs to help taxpayers pay back taxes and avoid tax liens.

“We are making fundamental changes to our lien system and other collection tools that will help taxpayers and give them a fresh start,” former IRS Commissioner Doug Shulman said. “These steps are good for people facing tough times, and they reflect a responsible approach for the tax system.”

The IRS Fresh Start Initiative centers on the IRS making important changes to its lien filing practices that will lessen the negative impact on taxpayers. The changes include:

  • Significantly increasing the dollar threshold when federal income tax liens are generally issued, resulting in fewer tax liens.
  • Making it easier for taxpayers to obtain lien withdrawals after paying a tax bill.
  • Withdrawing federal income tax liens in most cases where a taxpayer enters into a Direct Debit Installment Agreement.
  • Creating easier access to Installment Agreements for more struggling small businesses.
  • Expanding a streamlined Offer in Compromise program to cover more taxpayers.

“These steps are in the best interest of both taxpayers and the tax system,” Shulman (former IRS Commissioner) said. “People will have a better chance to stay current on their taxes and keep their financial house in order. We all benefit if that happens.”

This is another in a series of steps to help struggling taxpayers. In 2008, the IRS announced federal income tax lien relief for people trying to refinance or sell a home. In 2009, the IRS added new flexibility for taxpayers facing payment or collection problems.

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Federal Income Tax Lien Thresholds

The IRS will significantly increase the dollar thresholds when federal income tax liens are generally filed. The new dollar amount is in keeping with inflationary changes since the number was last revised. Currently, federal income tax liens are automatically filed at certain dollar levels for people with past-due balances.

The IRS plans to review the results and impact of the federal income tax lien threshold change in about a year.

A federal income tax lien gives the IRS a legal claim to a taxpayer’s property for the amount of an unpaid tax debt. Filing a Notice of Federal Tax Lien is necessary to establish priority rights against certain other creditors. Usually, the government is not the only creditor to whom the taxpayer owes money.

A federal income tax lien informs the public that the U.S. government has a claim against all property, and any rights to property, of the taxpayer. This includes property owned at the time the notice of lien is filed and any acquired thereafter. A lien can affect a taxpayer’s credit rating, so it is critical to arrange the payment of taxes as quickly as possible.

“Raising the lien threshold keeps pace with inflation and makes sense for the tax system,” Shulman said. “These changes mean tens of thousands of people won’t be burdened by liens, and this step will take place without significantly increasing the financial risk to the government.”

Federal Income Tax Lien Withdrawals

The IRS will also modify procedures that will make it easier for taxpayers to obtain lien withdrawals.

Federal Income tax liens will now be withdrawn once full payment of taxes is made if the taxpayer requests it. The IRS has determined that this approach is in the best interest of the government.

In order to speed the withdrawal process, the IRS will also streamline its internal procedures to allow collection personnel to withdraw the federal income tax lien.

Direct Debit Installment Agreements and Federal Income Tax Liens

The IRS is making other fundamental changes to liens in cases where taxpayers enter into a Direct Debit Installment Agreement (DDIA). For taxpayers with unpaid assessments of $25,000 or less, the IRS will now allow lien withdrawals under several scenarios:

  • Federal income tax lien withdrawals for taxpayers entering into a Direct Debit Installment Agreement.
  • The IRS will withdraw a federal income tax lien if a taxpayer on a regular Installment Agreement converts to a Direct Debit Installment Agreement.
  • The IRS will also withdraw federal income tax liens on existing Direct Debit Installment agreements upon a taxpayer request.

Federal Income tax liens will be withdrawn after a probationary period demonstrating that direct debit payments will be honored. The probationary period is usually three (3) months.

In addition, this lowers user fees and saves the government money from mailing monthly payment notices. Taxpayers can use the Online Payment Agreement application on IRS.gov to set-up with Direct Debit Installment Agreements.

“We are trying to minimize burden on taxpayers while collecting the proper amount of tax,” Shulman said. “We believe taking away taxpayer burden makes sense when a taxpayer has taken the proactive step of entering a direct debit agreement.”

IRS Installment Agreements and Small Businesses

The IRS will also make streamlined Installment Agreements available to more small businesses. The payment program will raise the dollar limit to allow additional small businesses to participate.

Small businesses with $25,000 or less in unpaid tax can participate. Currently, only small businesses with under $10,000 in liabilities can participate. Small businesses will have 24 months to pay.

The streamlined Installment Agreements will be available for small businesses that file either as an individual or as a business. Small businesses with an unpaid assessment balance greater than $25,000 would qualify for the streamlined Installment Agreement if they pay down the balance to $25,000 or less.

Small businesses will need to enroll in a Direct Debit Installment Agreement to participate.

“Small businesses are an important part of the nation’s economy, and the IRS should help them when we can,” Shulman said. “By expanding payment options, we can help small businesses pay their tax bill while freeing up cash flow to keep funding their operations.”

The IRS Settlement – Offers in Compromise

The IRS is also expanding a new streamlined Offer in Compromise (OIC) program to cover a larger group of struggling taxpayers.

This streamlined Offer in Compromise (OIC) is being expanded to allow taxpayers with annual incomes up to $100,000 to participate.

The Offer in Compromise (OIC) is subject to acceptance based on a complicated financial formula. An offer in compromise is a settlement agreement between a financially struggling taxpayer and the IRS that settles the taxpayer’s income tax liabilities for less than the full amount owed. Generally, an offer will not be accepted if the IRS believes that the income tax liability can be paid in full as a lump sum or through a payment agreement. The IRS looks at the taxpayer’s income and assets to make a determination regarding the taxpayer’s ability to pay.

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IRS Enforcement Collection Activity – IRS Levies – IRS Levy Stopped, Released and Avoided

Most of our clients at Flat Fee Tax Service, Inc. never intended for their income tax debt problem to get this far. When they file their tax returns in April, they always think, “I’ll pay this off in a month or two.” Like many Americans who are financially struggling, their good intentions fell by the wayside as other urgent financial obligations arose and his unpaid balance at the IRS remained unpaid longer than they intended it to. The IRS has sent out their notices, but most taxpayers either still believe they had time (the notice said so!) or that the IRS may miraculously forget the tax debt. The IRS has a progression of enforcement/collection notices. IRS notices are sent in an order. Those IRS notices will get more serious, and you will finally realize the IRS is very serious about the liens and levies being threatened in the notices. Most taxpayers in this very serious situation will not know what to do.

Every year, millions of Americans experience federal tax liens and levies (bank and wages). The good news is that if you’re like the 20,000,000 other taxpayers with an IRS problem and you’re facing this unpleasant situation, you can avoid IRS collection actions.

How the IRS Issues Levies:

To satisfy unpaid taxes, the IRS will issue a levy to take a taxpayer’s income and assets. Income and assets can be: wages, paychecks, stocks, bonds, checking accounts, savings accounts, Social Security and Veteran’s pensions. The process follows several steps. First, the IRS is required by law to provide the taxpayer with:

  • Notice and demand for payment
  • Notice of intent to levy
  • Notice of a right to a Collection Due Process

THESE NOTICES CAN BE SENT TO ANY ADDRESS THAT THE IRS HAS ON FILE FOR YOU.

YOU MAY NEVER HAVE RECEIVED ANY NOTICE AT ALL.

For most taxpayers, the IRS accomplishes these requirements by sending five letters, starting about six weeks after the taxpayer files a return. The five letters are often referred to as the automated collection “notice stream” (notice numbers CP14, CP501, CP503, CP504, and L1058/LT11). If the delinquent taxpayer receives the last notice and doesn’t pay the balance or make other arrangements to pay the balance, the IRS can levy the taxpayer’s income and assets, including garnishing wages and/or self-employment income and seizing funds in bank accounts. In 2012 alone, the IRS issued almost 3 million levies to taxpayers.

How to Have an IRS Levy Stopped, Released and Avoided:

If you know you owe the IRS for an income tax balance (meaning the IRS didn’t make a mistake, you filed the return correctly, and the balance can’t be reduced by filing an amendment), there is one way to avoid a levy, and it’s the same way to remove the levy: Get into an agreement with the IRS to pay the balance.

This means you’ll need to analyze your financial situation and ability to pay the IRS. In some cases, you may need to get help from a tax professional.

One simple, common solution is an extension of time to pay the balance in full. Extensions allow you up to 120 days to pay the balance and avoid a levy.

BEFORE YOU GET YOURSELF INTO AN EXTENSION, CONSULT WITH AN IRS TAX PROFESSIONAL.

If you can’t pay for an extension, you can request an installment agreement to make monthly payments, or you can request currently not collectible status, which officially classifies you as temporarily unable to pay. Requests for both of these agreements will suspend levy actions. Once the installment agreement is accepted, the IRS will not issue a levy unless you default on the agreement. If the IRS places you in currently not collectible status, your assets won’t be levied; however, be aware that the IRS can remove the currently not collectible status in the future if the IRS determines that you can pay the tax balance.

BEFORE YOU GET YOURSELF INTO AN INSTALLMENT AGREEMENT

CONSULT AN IRS TAX PROFESSIONAL

The IRS offer in compromise (OIC) is a collection alternative that settles a taxpayer’s tax debt for less than the amount owed, and it also suspends levy actions. IRS Offer in Compromise (OIC) acceptance not as rare as in previous years. Currently, the IRS has been accepting 46% of the settlement offers submitted.

90% of Flat Fee Tax Service, Inc.’s Clients Have Had A Successful

Offer in Compromise.

Financially struggling taxpayers need to contact a reputable IRS Tax Professional to see if they are qualified and eligible to settle with the IRS for less. Have your IRS settlement prepared by an experienced IRS Tax Professional because if the IRS rejects your settlement offer, you’ll need to set up an alternative agreement to avoid a levy.

It’s important to note that if the IRS determines that you are purposely delaying the collection process, the IRS can use liens and/or levies even while it considers your request for a collection alternative. This often happens when a taxpayer has multiple tax years with an unpaid balance or has requested numerous collection agreements that the IRS has denied.

YOUR CALL TO ACTION:

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  1. Guided by our Christian Values.
  2. Accredited by the Better Business Bureau. A Plus Rating.
  3. No Client Complaints.
  4. Experienced IRS Tax Attorneys Work Directly with You.
  5. IRS Levies can be Stopped in a matter of Hours.
  6. 90% of our clients Offer in Compromise submissions have been accepted for IRS Settlement.
  7. We have Low, Affordable Fees. Fees are Clearly Posted on our Websites.
  8. Our Clients get Positive Results.

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Flat Fee IRS Tax Relief – Affordable IRS Levy Help: IRS Offer in Compromise – IRS Settlement – Flat Fee Tax Service – The Most Affordable IRS Tax Relief Team

Flat Fee IRS Tax Relief – Affordable IRS Levy Help: IRS Offer in Compromise – IRS Settlement – Flat Fee Tax Service – The Most Affordable IRS Tax Relief Team.