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Tax Law Changes for 2011 – Summary Tax Guide for Easy Reading – Tax Prep by Former IRS Agents

Michael Sullivan — Thu, 09 Feb 2012 17:38:33 +0000

Each year Tax Law changes are made and in many cases help the taxpayers. Before filing your tax return check on any and all changes that may effect your tax return.

Stay out of a IRS tax audit and by all means take advantage of all tax credits.

Should you have any questions, call us today. As former IRS Agents we can help navigate you through this process

Tax Law Changes for 2011 Federal Tax Returns

Due date of return.

You can file your federal tax return by April 17, 2012. The due date is April 17, instead of April 15, because April 15 is a Sunday and April 16 is the Emancipation Day holiday in the District of Columbia. Thanks DC!

New forms.

In most cases, you must report your capital gains and losses on the new Form 8949, Sales and Other Dispositions of Capital Assets. Then, you report certain totals from that form on Schedule D (Form 1040). If you had foreign financial assets in 2011, you may have to file the new Form 8938, Statement of Foreign Financial Assets, with your return.

Standard mileage rates.

The 2011 rates for mileage are different for January 1 through June 30 than for July 1 through December 31. For business use of your car, you can deduct 51 cents a mile for miles driven the first half of the year and 55 ½ cents for the second half. Medical and moving mileage are both 19 cents per mile for the early half of the year and 23 ½ cents in the latter half.

Standard deduction and exemptions increased, finally!!!

The standard deduction increased for some taxpayers who do not itemize deductions on IRS Schedule A (Form 1040). The amount depends on your filing status.

The amount you can deduct for each exemption has increased $50 to $3,700 for 2011.
Self-employed health insurance deduction. This deduction is no longer allowed on Schedule SE (Form 1040), but you can still take it on Form 1040, line 29.

Alternative minimum tax (AMT)

This years exemption amount increased. The AMT exemption amount has increased to $48,450 ($74,450 if married filing jointly or a qualifying widow(er); $37,225 if married filing separately).

Health savings accounts (HSAs) and Archer MSAs.

The additional tax on distributions from HSAs and Archer MSAs not used for qualified medical expenses increased to 20 percent. Beginning in 2011, only prescribed drugs or insulin are qualified medical expenses.

Roth IRAs.

If you converted or rolled over an amount from a traditional IRA to a Roth IRA or designated Roth in 2010 and did not elect to report the taxable amount on your 2010 return, you generally must report half of it on your 2011 return and the rest on your 2012 return.

Alternative motor vehicle credit.

This year you can claim the alternative motor vehicle credit for a 2011 purchase only if the vehicle is a new fuel cell motor vehicle.

First-time homebuyer credit.

The credit expired for most taxpayers for 2011. Sadly!

Some military personnel and members of the intelligence community can still claim the credit in 2011 for qualified purchases.

Health coverage tax credit.

Recent legislation changed the amount of this credit, which pays qualified health insurance premiums for eligible individuals and their families. Participants who received the 65 percent tax credit in any month from March to December 2011 may claim an additional 7.5 percent retroactive credit when they file their 2011 tax return.

Should you need tax help or tax preparation by Former IRS agents call us today.

Tax Law Changes for 2011 – Summary Tax Guide for Easy Reading – Tax Prep by Former IRS Agents is a post from: Fresh Start Tax Blog

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Name change – What to do for tax purposes – IRS Tax Help

Michael Sullivan — Mon, 06 Feb 2012 14:47:20 +0000

Did you recently change your name?

Here are some tax tips to help you through the process.

Tips for Recently Married, Divorced Taxpayers or others who recently had a Name Change

If you changed your name after a recent marriage or divorce, the IRS reminds you to take the necessary steps to ensure the name on your tax return matches the name registered with the Social Security Administration. A mismatch between the name shown on your tax return and the SSA records can cause problems in the processing of your return and may even delay your refund.

Here are tips from the IRS for recently married, divorced taxpayers or other individuals who have a name change.

1. Hyphenated Names – If you took your spouse’s last name — or if you hyphenated your last names, you may run into complications if you don’t notify the SSA.

When newlyweds file a tax return using their new last names, IRS computers cannot match the new name with their Social Security number.

2. If you recently divorced and changed back to your previous last name, you’ll also need to notify the SSA of this name change.

3. Informing the SSA of a name change is easy. Simply file a Form SS-5, Application for a Social Security Card, at your local SSA office or by mail and provide a recently issued document as proof of your legal name change.

4. Form SS-5 is available on SSA’s website at http://www.socialsecurity.gov/, by calling 800-772-1213 or at local offices.

Your new card will have the same number as your previous card, but will show your new name.

5. If you adopted your spouse’s children after getting married and their names changed, you’ll need to update their names with SSA too. For adopted children without SSNs, the parents can apply for an Adoption Taxpayer Identification Number – or ATIN – by filing Form W-7A, Application for Taxpayer Identification Number for Pending U.S. Adoptions with the IRS.

The ATIN is a temporary number used in place of an SSN on the tax return. Form W-7A is available on the IRS.gov website or by calling 800-TAX-FORM (800-829-3676).

Name change – What to do for tax purposes – IRS Tax Help is a post from: Fresh Start Tax Blog

IRS Tax Scams – Victim of a Tax Scam – Call Former IRS Agents – Get tax relief today

Michael Sullivan — Tue, 24 Jan 2012 19:38:28 +0000

If you are a victim of a tax scam you can call us today to get tax relief. We are former IRS agents who know every trick in the book and can find a way to help you.

Here are some tax tips about tax scams.

The Internal Revenue Service receives thousands of reports each year from taxpayers who receive suspicious emails, phone calls, faxes or notices claiming to be from the IRS. Many of these scams fraudulently use the IRS name or logo as a lure to make the communication appear more authentic and enticing. The goal of these scams – known as phishing – is to trick you into revealing your personal and financial information.

The scammers can then use your information – like your Social Security number, bank account or credit card numbers – to commit identity theft or steal your money.

Here are five things the IRS wants you to know about phishing scams from IRS.

1. The IRS never asks for detailed personal and financial information like PIN numbers, passwords or similar secret access information for credit card, bank or other financial accounts.

2. The IRS does not initiate contact with taxpayers by email to request personal or financial information. If you receive an e-mail from someone claiming to be the IRS or directing you to an IRS site:

• Do not reply to the message.

• Do not open any attachments. Attachments may contain malicious code that will infect your computer.

• Do not click on any links. If you clicked on links in a suspicious e-mail or phishing website and entered confidential information, visit the IRS website and enter the search term ‘identity theft’ for more information and resources to help.

3. The address of the official IRS website is www.irs.gov. Do not be confused or misled by sites claiming to be the IRS but ending in .com, .net, .org or other designations instead of .gov. If you discover a website that claims to be the IRS but you suspect it is bogus, do not provide any personal information on the suspicious site and report it to the IRS.

4. If you receive a phone call, fax or letter in the mail from an individual claiming to be from the IRS but you suspect they are not an IRS employee, contact the IRS at 1-800-829-1040 to determine if the IRS has a legitimate need to contact you. Report any bogus correspondence. You can forward a suspicious email to phishing@irs.gov. Help all taxpayers and report them today.

5. You can help the IRS shut down these schemes and prevent others from being victimized. Details on how to report specific types of scams and what to do if you’ve been victimized are available at www.irs.gov. Click on “phishing” on the home page.

Do not be a victim!!!

IRS Tax Scams – Victim of a Tax Scam – Call Former IRS Agents – Get tax relief today is a post from: Fresh Start Tax Blog

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How many math errors does the IRS correct each year? Read and find out

Michael Sullivan — Tue, 24 Jan 2012 19:31:38 +0000

Interesting Tax Fact about IRS Tax Returns

The IRS corrected 10.6 million “mathematical errors” in taxpayers’ returns in 2010, more than double the 4 million it corrected in 2005, the report said.

But the IRS itself made mistakes – out of 300,000 returns on which it disallowed exemptions for dependent children, it had to restore the exemption just over half the time.

The odds of a tax audit, 1.1%

How many math errors does the IRS correct each year? Read and find out is a post from: Fresh Start Tax Blog

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IRS Filing Status – Read this to stop a IRS Audit – Former IRS Agents – Audit Proof your tax return today.

Michael Sullivan — Tue, 24 Jan 2012 19:25:45 +0000

You would be shocked on the amount of taxpayers that file the incorrect filing status.

Thousands of taxpayers get audited because they incorrectly file the wrong filing status.

This is an immediate trigger for the IRS. As a result the rest of their tax return get audited.

This is How Determine Your Correct Filing Status for IRS purposes:

Determining your filing status is one of the first steps to filing your federal income tax return.

There are five filing statuses:

1.Single,

2.Married Filing Jointly,

3.Married Filing Separately,

4.Head of Household and

5.Qualifying Widow(er) with Dependent Child.

Your IRS filing status is used to determine your filing requirements, standard deduction, eligibility for certain credits and deductions, and your correct tax.

You can qualify for more than one filing status.

Here are eight facts about filing status that the IRS wants you to know so you can choose the best option for your situation.

1. Your marital status on the last day of the year determines your marital status for the entire year.

2. If more than one filing status applies to you, choose the one that gives you the lowest tax obligation.

3. Single filing status generally applies to anyone who is unmarried, divorced or legally separated according to state law.

4. A married couple may file a joint return together.

The couple’s filing status would be Married Filing Jointly.

5. If your spouse died ( sorry to hear ) during the year and you did not remarry during 2011, usually you may still file a joint return with that spouse for the year of death.

6. A married couple may elect to file their returns separately.

Each person’s filing status would generally be Married Filing Separately.

7. Head of Household generally applies to taxpayers who are unmarried.

You must also have paid more than half the cost of maintaining a home for you and a qualifying person to qualify for this filing status.

8. You may be able to choose Qualifying Widow(er) with Dependent Child as your filing status if your spouse died during 2009 or 2010, you have a dependent child, have not remarried and you meet certain other conditions.

IRS Filing Status – Read this to stop a IRS Audit – Former IRS Agents – Audit Proof your tax return today. is a post from: Fresh Start Tax Blog

IRS Tip Income – Tax tips from Fresh Start Tax – Income Tax Preparation – Audit Proof your tax return

Michael Sullivan — Tue, 24 Jan 2012 19:18:19 +0000

Do you have tip income and need tax tips to help you filed your tax return.

Make sure you follow these tax tips when you are preparing your income tax return.

Call us if you need more information and we can help audit proof your tax return.

Tax Tips Regarding Tip Income

If your pay from work involves compensation through tips, then the IRS would like you to be aware of a few facts about tip income.

Here are key points to keep in mind:

1. Tips are taxable Tips are subject to federal income, Social Security and Medicare taxes. The value of non-cash tips, such as tickets, passes or other items of value, is also considered income and subject to tax.

2. Include tips on your tax return You must include in gross income all cash tips you receive directly from customers, tips added to credit cards, and your share of any tips you receive under a tip-splitting arrangement with fellow employees.

3. Report tips to your employer If you receive $20 or more in tips in any one month, you should report all of your tips to your employer. Your employer is required to withhold federal income, Social Security and Medicare taxes.

4. Keep a running daily log of your tip income. You can use IRS Publication 1244, Employee’s Daily Record of Tips and Report to Employer, to record your tip income.

For more information see IRS Publication 531, Reporting Tip Income, and Publication 1244 which are available at www.irs.gov. Both can be ordered by calling 800-TAX-FORM (800-829-3676).

If you need help with income tax preparation call us today, we are former IRS Agents.

IRS Tip Income – Tax tips from Fresh Start Tax – Income Tax Preparation – Audit Proof your tax return is a post from: Fresh Start Tax Blog

Set up a IRS Payment Plan – Affordable IRS Tax Experts – Former IRS Agents / Managers – “A” Rated BBB

Michael Sullivan — Mon, 21 Nov 2011 20:21:51 +0000

Fresh Start Tax LLC Since 1982 Affordable IRS Tax Experts Set up a IRS Payment Plan today 1-866-700-1040

Do not set up a payment plan with IRS until you speak with us. We have set up thousands of IRS payment plans since 1982.

Being Former IRS agents we know all the tax policies and settlement procedures. We taught Tax Law at the IRS. We are experts!

So if you owe the IRS money on back taxes and need to set up a IRS Payment Plan call us today and get the IRS off of your back.

We have set up thousands of back tax payment agreements with the IRS. Over 25 million taxpayers are on a IRS Payment Plan.

Here are some facts on back payments:

In FY 2010, the IRS sent out over 25 million reminder notices (CP521) to taxpayers who are on an installment agreement. After the taxpayer misses his/her second payment on an installment agreement, Letter 4458C, the Commissioner’s skip payment notice, is sent. IRS Payment Plans cover all type of IRS taxes including income, payroll, estate and gift and lastly trust fund taxes.

IRS has very specific formulas to be able to opt in to the IRS Payment Plan you are looking for. There are tax charts for IRS payment plans on our web site.

Being Former IRS Agents, Managers and Instructors we would caution you on setting up your own agreement. We taught Tax Law at the IRS and know all of the tax policies.

If your agreement is under $25,000 we can set up a payment agreement today! If over $25,000 you will need to fill up a 433F, scan it to us and see how we can get you immediate peace of mind.

Call us today and settle your case, 1-866-700-1040.

Our Company Resume: ( Since 1982 )

Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
We taught Tax Law in the IRS Regional Training Center
Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
Highest Rating by the Better Business Bureau “A”
Fast, affordable, and economical
Licensed and certified to practice in all 50 States
Nationally Recognized Veteran /Published Former IRS Agent
Nationally Recognized Published EZINE Tax Expert
As heard on GRACE 90.3 FM Monthly Radio Show-Business Weekly

See our Home Page for more details Thank you

Set up a IRS Payment Plan – Affordable IRS Tax Experts – Former IRS Agents / Managers – “A” Rated BBB is a post from: Fresh Start Tax Blog

Christian Debt Relief – IRS Tax Problems – IRS Tax Relief – Former Christian IRS Agents -Tax Relief

Michael Sullivan — Wed, 16 Nov 2011 14:25:21 +0000

Fresh Start Tax LLC Since 1982 A Professional Christian Tax firm “A” Rated by the BBB Christian Debt Relief

Hire a Christian Tax Firm to get you immediate and permanent tax relief from any of your IRS Tax Problems.

We have over 205 years of professional tax experience and over 60 years of direct work experience with the IRS in the local, district and regional offices of the IRS.

We are staffed with Board Certified Tax Attorneys, CPA’s and Former IRS Agents and Managers.

You can hear us live on GRACE FM 90.3 Christian Business Weekly. Call us for a no cost tax consult 1-866-700-1040.<><

How do you discern godly counsel?

Psalm 37:30 The godly offer good counsel, they know what is right from wrong.

Proverbs 18:2 Fools have no interest in understanding; they only want to offer their own opinions.

Proverbs 27:9 The heartfelt counsel of a friend is as sweet as perfume and incense.

Fresh Start Tax L.L.C. is one of the premier Christian 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 Tax Representation.
We know all the IRS tax strategies because of our extensive IRS working backgrounds. We were Former IRS Certified Tax Instructors that taught IRS Tax Law in the IRS Regional Training Center. Some of our many specialties include the following:

Areas of Professional Tax Practice:

Same Day IRS Tax Representation
Offers in Compromise or IRS Tax Debt Settlements
Immediate Release of IRS Bank Levies or IRS Wage Garnishments
Tax Relief from a IRS Bill, Letter or Notice of “Intent to Levy”
IRS Tax Audits
IRS Hardships Cases or Unable to Pay
Payment Plans, Installment Agreements, Structured agreements
Abatement of Penalties and Interest
State Sales Tax Cases
Payroll / Trust Fund Penalty Cases / 6672
Filing Late, Back, Unfiled Tax Returns
Tax Return Reconstruction if Tax Records are lost or destroyed

Our Company Resume: ( Since 1982 )

Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
We taught Tax Law in the IRS Regional Training Center
Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
Highest Rating by the Better Business Bureau “A”
Fast, affordable, and economical
Licensed and certified to practice in all 50 States
Nationally Recognized Veteran /Published Former IRS Agent
Nationally Recognized Published EZINE Tax Expert
As heard on GRACE 90.3 FM Monthly Radio Show-Business Weekly

See our Home Page for more details Thank you

Christian Debt Relief – IRS Tax Problems – IRS Tax Relief – Former Christian IRS Agents -Tax Relief is a post from: Fresh Start Tax Blog

IRS Tax Help, Tax Debt Problems – Affordable Former IRS Agents – We know the System – Philadelphia, Allentown, Reading, Scranton, Lancaster, York – Pennsylvania – IRS Tax Relief

Michael Sullivan — Tue, 01 Nov 2011 16:06:42 +0000

Fresh Start Tax LLC Since 1982 Former IRS Agents & Managers “A” Rated by the BBB Immediate Tax Relief

We can immediately stop all your IRS tax problems and get you permanent tax relief. We know the system inside and out.

We have over 205 years of professional tax experience and over 60 years of working directly for the IRS in the local, district and regional offices of the IRS. We also taught Tax Law at the IRS and know the complete IRS tax system.

Call us 1-866-700-1040 and get your matter resolved today.

Areas of Professional Tax Practice:

Same Day IRS Tax Representation
Offers in Compromise or IRS Tax Debt Settlements
Immediate Release of IRS Bank Levies or IRS Wage Garnishments
Tax Relief from a IRS Bill, Letter or Notice of “Intent to Levy”
IRS Tax Audits
IRS Hardships Cases or Unable to Pay
Payment Plans, Installment Agreements, Structured agreements
Abatement of Penalties and Interest
State Sales Tax Cases
Payroll / Trust Fund Penalty Cases / 6672
Filing Late, Back, Unfiled Tax Returns
Tax Return Reconstruction if Tax Records are lost or destroyed

Our Company Resume: ( Since 1982 )

Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
We taught Tax Law in the IRS Regional Training Center
Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
Highest Rating by the Better Business Bureau “A”
Fast, affordable, and economical
Licensed and certified to practice in all 50 States
Nationally Recognized Veteran /Published Former IRS Agent
Nationally Recognized Published EZINE Tax Expert
As heard on GRACE 90.3 FM Monthly Radio Show-Business Weekly

Do your homework before hiring a Professional Tax Firm. Make sure they have on staff Board Certified Tax Attorneys, Lawyers, CPAs, Former IRS Agents and Managers. Also, check the following to ensure the creditability and history of the Tax Firm.

1. Better Business Bureau – www.bbb.org/us/Find-Business-Reviews
2. Complaints.com – www.complaintsboard.com
3. Rip Off Report – http://www.ripoffreport.com/

See our Home Page for more details Thank you

IRS Tax Help, Tax Debt Problems – Affordable Former IRS Agents – We know the System – Philadelphia, Allentown, Reading, Scranton, Lancaster, York – Pennsylvania – IRS Tax Relief is a post from: Fresh Start Tax Blog

File Back Tax Returns, Owe Back Taxes, IRS Tax Settlements – Affordable IRS Tax Experts – Former Agents – Morgantown, Wheeling, Cumberland, Martinsburg, Winchester, Clarksburg – West Virginia – IRS Tax Relief

Michael Sullivan — Tue, 25 Oct 2011 19:27:13 +0000

Fresh Start Tax LLC Since 1982 Affordable IRS Tax Experts “A” Rated by the BBB

We can file all of your past due tax returns and settle your case. Former IRS Agents and Managers know all the settlement techniques.

We can prepare all your past due tax returns with little or no tax records. Being former IRS Agent Managers we know the exact process to make this happen worry free.

We have over 205 years of professional tax experience and over 60 years working directly with the IRS in the local, district and regional offices of the IRS.

We will file your back returns and get you a great tax settlement.

Call us today 1-866-700-1040. We are fast and affordable. 60 years of direct IRS tax experience.

Our Company Resume: ( Since 1982 )

Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
We taught Tax Law in the IRS Regional Training Center
Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
Highest Rating by the Better Business Bureau “A”
Fast, affordable, and economical
Licensed and certified to practice in all 50 States
Nationally Recognized Veteran /Published Former IRS Agent
Nationally Recognized Published EZINE Tax Expert
As heard on GRACE 90.3 FM Monthly Radio Show-Business Weekly

Filing Back Tax Returns – The process of filing back or unfiled tax returns: (Lost or few tax records )

If you have unfiled tax returns, this process Fresh Start Tax LLC uses to get current with the IRS and get you immediate and permanent tax relief

1. We verbally review a year by year history of your income and expenses.
2. We review any records you may have.
3 We pull all IRS information that they have received from 3rd party sources that have been placed on the IRS computer system over the past 7 years.
4. If you have lost all your records we have easy and simple forms that can help you reconstruct your tax return.
5. We can prepare through years of experience a “reconstructed” tax return that the IRS will accept and process.
6. We review all returns for accuracy with the client and send them into the IRS.
7. We work out a settlement agreement with the IRS to permanent close your tax case.

File Back Tax Returns, Owe Back Taxes, IRS Tax Settlements – Affordable IRS Tax Experts – Former Agents – Morgantown, Wheeling, Cumberland, Martinsburg, Winchester, Clarksburg – West Virginia – IRS Tax Relief is a post from: Fresh Start Tax Blog