Author Archives: Kursti Nakagawa

Warning! Please Beware of Fraudulent IRS Tax Website

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The United States government is alerting the public about a phony Internal Revenue Service site. The government is worried that the site may con people into disclosing personal and private information. Officials have stated that this website has been created to look like an IRS e –Services on-line registration page.

The fake site’s URL address will end in a .com or .net or some other similar designation. The revenue service’s official site is IRS.gov.

“The actual IRS e-services page offers Web-based products for tax preparers, not the general public,” the agency stated, “The phony Web page looks almost identical to the real one.”

“If you find a suspicious website that claims to be the IRS, send the site’s URL by email to phishing@irs.gov, “the agency said. “Use the subject line Suspicious Website.”

It is also important to know that the IRS does not originate contact with a taxpayer via email, text message, or any other type of social media to ask for information.

If you have tax debt you are unable to pay or any other questions our tax settlement professionals are happy to discuss you’re tax resolutions free of charge. For more information about our services, visit us today at www.professionaltaxresolution.com. With over 16 years in the business of resolving tax debt, we have a thorough understanding of tax law together with the experience to know which settlement option will be the best fit for your specific set of circumstances. (https://flucamp.com/)

For more information about our tax debt resolution services visit us at www.professionaltaxresolution.com. Contact us by phone at 877.889.6527 to receive a free, no obligation consultation.

 

 

IRS Installment Agreements

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IRS Installment Agreements

IRS Installment Agreements

 If you owe back taxes to the IRS an installment agreement is one of the most common methods used to make payments to the IRS. A monthly general plan is usually the simplest way to set up an arrangement to pay off any taxes owed to the Internal Revenue Service. Even if you are filing your taxes and you cannot pay the entire amount owed, you can send an installment agreement form with your tax return. IRS installment agreements are usually easy to obtain when the amount owed is $25,000 or less. That being said the IRS has four types of installment agreements. Below is a description of each one:

Guaranteed Installment Agreement: This is definitely the simplest installment agreement. It is for someone who owes $10,000 or less to the IRS. However, one must fit the following criteria:

  1. Have not filed late or paid late in the last five years.
  2. All of your taxes are filed.
  3. Your monthly installments will pay off your balance within 36 months.
  4. You will file and pay your taxes on time from now on.

The biggest advantage of this type of installment agreement is that the IRS will not file a federal tax lien.

Streamlined Installment Agreement: This type of plan is designed for individuals who owe $25,000 or less to the IRS and it must be paid off in 60 months or less.

However, effective on March 7th, 2012 taxpayers who owe $50,000 or less and can pay off the balance in 72 months or less are also included due to the expansion of the Fresh Start Initiative.

The biggest plus to the streamlined installment agreement is that a federal tax lien is not required. However, all your tax returns from must be filed, and you acknowledge to file your returns on time and as well pay your taxes on time in the future.

Partial Payment Agreement: This type of agreement works best when the guaranteed or streamlined installment agreements do not work for you. This is a type of payment arrangement that is based on what you can afford after a review of your living expenses. Unlike, the guaranteed or streamlined installment agreements, partial payment agreements can be set up to cover a longer repayment term. However, the IRS could file federal tax lien. Also, this type of agreement will need to be reevaluated every two years to see if you could pay more money. (https://store.spaceylon.com/)

“Non-Streamlined” Installment Agreements: If none of the above installment agreements work for you then you will need to negotiate your own installment agreement with the IRS. Usually this is the case if you owe $25,000 or more, if you need longer than 5 years to pay off the balance, or if you do not meet any of the criteria for a streamlined or guaranteed installment agreement.

This type of agreement is negotiated directly with the IRS agent and IRS manager. The IRS will most likely file a federal tax lien. You will also need to fill out a financial statement with additional financial information for the IRS to review.

If you have tax debt you are unable to pay or any other questions our tax settlement professionals are happy to discuss you’re tax resolutions free of charge. For more information about our services, visit us today at www.professionaltaxresolution.com. With over 16 years in the business of resolving tax debt, we have a thorough understanding of tax law together with the experience to know which settlement option will be the best fit for your specific set of circumstances.

 For more information about our tax debt resolution services visit us at www.professionaltaxresolution.com. Contact us by phone at 877.889.6527 to receive a free, no obligation consultation.

 

 

 

 

IRS Commmissioner to Step Down

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Doug Shulman

The Internal Revenue Service (IRS) Commissioner Doug Shulman has announced officially his plans to step down the end of this term. Mr. Shulman is the 47th commissioner to serve and he has been in office since March 24th, 2008 and plans to step down on November 9th, 2012.  George W. Bush appointed Shulman to office. Commissioners generally serve one term and no commissioner has ever served longer than five years since the office was created by Congress by the Revenue act of 1862.

Shulman has held office during difficult times in this economy. According to Shulman, “The IRS team has made remarkable progress in the last few years during a challenging period. It has been an honor to serve the American people during this dynamic time.”

The IRS Commissioner is a role with many responsibilities and it includes the management of over 100,000 employees. The commissioners are nominated by the President and confirmed by the Senate. A new commissioner will not take his place until after the presidential and congressional elections. In the interim Deputy Commissioner for Services and Enforcement Steven T. Miller will serve as the acting IRS commissioner when Shulman steps down.

If you have any tax questions or tax debt you are unable to pay our tax settlement professionals are happy to discuss you’re tax resolutions free of charge. For more information about our services, visit us today at www.professionaltaxresolution.com. With over 16 years in the business of resolving tax debt, we have a thorough understanding of tax law together with the experience to know which settlement option will be the best fit for your specific set of circumstances.

For more information about our tax debt resolution services visit us at www.professionaltaxresolution.com. Contact us by phone at 877.889.6527.

 

 

Tax Help and Your Relationship Status

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Do you want to make more money and save for retirement? According to Business Insider, it seems it pays more to be more married than single.  The report states that the percentage of Americans that are single has doubled since the 1960s. (Phentermine) Meanwhile, it also seems that these individuals are paying more money for their single status.

In comparison to married couples singles spend more on health insurance, food, housing, and taxes. Singles also make 25% less than their married co-workers, when health care and retirement plans are taken into consideration. As far as saving for retirement a recent study showed that 85 % of married Americans have a retirement plan, meanwhile only 67% of singles have a plan.

According to the study it seems having a significant other promotes saving and retirement goals.  In few words single individuals have a more difficult time preparing for retirement. As a result, a recent study showed that only 16% of single seniors are financially stable.  Being single can be a challenge financially because there will not be another Pension, IRA, social security earnings record, or 401 (K) from an additional person. Also, one would probably always be in a higher tax bracket because they are single.

Business Insider report also discovered that roughly 33 million Americans are living alone. This also can be a serious hit on one’s budget, as there is not another person to share bills and housing expenses. A study showed that partners spend about 22% of their income on bills and housing costs, meanwhile a single senior will spend about 35% of their income on such costs.

This is just something for one to think about when it comes to your earnings and future savings. However, it seems marrying for love rather than your future financial position will be a better pay off in the long run.

If you have tax questions or tax debt you are unable to pay our tax settlement professionals are happy to discuss you’re tax resolutions free of charge. For more information about our services, visit us today at www.professionaltaxresolution.com. With over 16 years in the business of resolving tax debt, we have a thorough understanding of tax law together with the experience to know which settlement option will be the best fit for your specific set of circumstances.

For more information about our tax debt resolution services visit us at www.professionaltaxresolution.com. Contact us by phone at 877.889.6527 to receive a free, no obligation consultation.

 

Help – Facts to File and Pay Back Taxes

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Filing and Paying Back Taxes

Help with Back Taxes

 Do you owe previous years taxes? Here are some simple facts for filing back taxes. Each year most people file their individual tax returns or pay all their back taxes by April 15th. First of all, if you have not filed your return(s) you will have additional interest and penalties to pay. However, if you owe back taxes and need help, an Enrolled Agent or Certified Public Accountant (CPA) can assist you. Here are some steps you can take to help you pay and file your back taxes.

5 Helpful Tips for Filing and Paying Back Taxes

  • Collect all of your documents together.  If you are missing any copies of previous tax returns simply ask the IRS for copies, it is free.
  • Select a Tax professional.  If you feel overwhelmed by the back taxes or unsure how to proceed, look for a professional that has the knowledge and experience to help you handle involved tax issues. It is recommended to search for an Enrolled Agent or a Certified Public Accountant. They will have the background work experience in negotiating a wide range of tax settlement options with the IRS.
  • Keep in mind the IRS can be very relentless in collecting owed debts. The Internal Revenue Service can resort to wage garnishments, tax liens, bank account levies, and other approaches to settle back taxes. It is important to be informed on the statute of limitations for your refunds, debt collections, and IRS audits.
  • Promptly send your back taxes to the IRS. Even if you are not able to pay your back taxes immediately to IRS, you have other tax settlement options to stop a tax lien, levy, repossession, or wage garnishment. Keep in mind that the IRS has different  tax settlement options, such as an offer in comprise or installment plan, which can help you pay your back taxes over a long period of time. You should file late tax returns on paper, make sure that you are mailing them to the correct Internal Revenue Service, and be sure to send them via certified mail. Keeping good records is also important. Another option is for you to take the tax return in person your local IRS office.
  • Prepare for your upcoming tax plans. If you owe more in back taxes than you can afford to pay or if you are self-employed, an Enrolled Agent or CPA can work with you on your tax situation.

If you have tax debt you are unable to pay or any other questions our tax settlement professionals are happy to discuss you’re tax resolutions free of charge. For more information about our services, visit us today at www.professionaltaxresolution.com. With over 16 years in the business of resolving tax debt, we have a thorough understanding of tax law together with the experience to know which settlement option will be the best fit for your specific set of circumstances.

For more information about our tax debt resolution services visit us at www.professionaltaxresolution.com. Contact us by phone at 877-889-6527 to receive a free, no obligation consultation.