Introduction to the book, ‘Ricardo’s Law ~ House Prices and the Great Tax Clawback Scam’ by Fred Harrison: www.fredharrison.org Ricardo’s Law points lawmakers, policy analysts and social reformers toward a model of public finances that is fair and would deliver prosperity to everyone. Published by Shepheard-Walwyn www.shepheard-walwyn.co.uk

IRS OFFER IN COMPROMISE – IRS TAX SETTLEMENT – IRS TAX RELIEF

An IRS Offer in Compromise ( also known as an OIC ) is an excellent way to settle your IRS Tax Debt with the IRS for much LESS money than what you currently owe. This Settlement of IRS Taxes has been commonly known as “pennies on the dollar”.

An  IRS Offer in Compromise ( IRS Tax Settlement ) should be considered by all taxpayers who cannot pay the IRS in a lump sum. It is for those who do not have enough assets to sell or liquidate to satisfy their back Tax Debt. It is for those who will not have the future earnings to satisfy the amount of Tax due (IRS Penalties and Interest included).

At least one of three conditions must be met to qualify a taxpayer for consideration of an IRS Offer in Compromise (OIC) Tax Settlement:

Doubt as to Liability

Doubt as to Collectibility

Effective Tax Administration

An IRS Offer in Compromise (OIC) will have no effect upon a IRS Tax Lien. The IRS Tax Lien will remain in effect until the IRS Offer in Compromise is accepted by the IRS and the full amount of the Offer in Compromise (OIC) has been paid in full. Once the IRS decides that an IRS Offer in Compromise (OIC) is processable and that the IRS Offer in Compromise includes all the paperwork and forms properly filled out, the IRS must stop IRS Wage Garnishment / IRS Wage Levy / IRS Bank Levy actions under §6331.

If the Offer in Compromise is missing documents or forms, however, the IRS can (and they will ) return the paperwork to the debtor as un-processable, and the IRS can (and the will) then proceed with an IRS Wage Garnishment or IRS Levy of your wages/property.

All the more reason to have highly skilled Tax Attorneys represent you.

DO YOU WANT REALLY GREAT NEWS?

In the last published IRS statistics, the IRS reports that the average discount on an accepted Offer in Compromise was 88% (only 12 cents on the dollar was paid by Americans with an accepted Offer in Compromise (OIC), and that the average acceptance rate was 47.6%. Given the savings possibilities on accepted Offer in Compromise (OIC), the determined and diligent team of Tax Attorneys at DWK TAX GROUP specializes in the Offer in Compromise program and works very hard to see if our clients qualify for an Offer in Compromise (OIC).

It is important to emphasize, for example, the fact that the Congress told the IRS to have a liberal acceptance policy in processing IRS Offer in Compromise cases. Our legal memorandum also cites the Congressional tax policy to settle your IRS Tax liability to give taxpayers a fresh start.

What are you waiting for? Stop “thinking about it”. Be Pro-Active. Save yourself from the stress.

We will not accept any Tax Case if we cannot save you money.

You must be eligible and qualified.

DWK TAX FEE FOR AN IRS OFFER in COMPROMISE:  $1,600.00.

Senior Discounts Available. AARP Discounts Available.

Affordable Payment Plans Available to You.

To find out more, (CALL 1-866-226-6102)

Visit the DWK Website at: http://www.dwktax.com

This mini-documentary from the Center for Freedom and Prosperity discusses the global flat tax revolution. There are now 24 flat tax jurisdictions (actually 25, but we didn’t know about Trinidad & Tobago when the video was filmed), a remarkable development given the ideological opposition to tax reform from special interest groups and class warfare advocates. The six-minute video explains the key features of the flat tax revolution and highlights the reforms in Hong Kong, Estonia, and …

Often it is believed that simply purchasing an aircraft outside of California eliminates the sales and use tax liability.  There is a half truth here; properly purchasing an aircraft outside of California does eliminate the sales tax obligation, however, it does not eliminate the use tax. 

Many people do not know how, or where to begin when going through the California sales and use tax exemption process.  The simple answer is that you must take delivery of the aircraft outside of California.  However, there is more detail behind the simple answer.  For example, the contract of sale (purchase agreement) must specifically reference the location where the aircraft will be delivered to the purchaser outside the state.  

As standard practice, we advise that the delivery occur in Oregon.  Oregon is the closest, non-sales tax state in proximity to California that will not have a jurisdictional claim for sales or use taxes simply because the sale occurs there.  Therefore, Oregon is often times the most convenient location.  However, it may not be convenient in every situation.  There are a total of five non-sales tax states:  Oregon, Alaska, Montana, New Hampshire, and Delaware.  Many other states have guidelines for non-resident purchasers taking delivery within their state without fearing tax repercussions.  Be sure you know the rules.

To properly evidence the delivery outside of California, you must maintain a clear separation between the seller and the buyer.  To accomplish this, the seller will be solely responsible for transporting the aircraft to the out of state delivery location, and the buyer will be solely responsible for getting to the delivery location independent of the aircraft they are purchasing.  It is recommended that the buyer travel via commercial airlines to generate and obtain confirmation of the travel to the out of state delivery location.  In addition, the buyer must not exercise any right or control over the property until after it is delivered (test flights are ok, but insuring the property prior to delivery could pose a problem). 

Once the seller and buyer have converged upon the delivery location, it is now time to execute the paperwork.  They will execute the FAA Bill of Sale, FAA Registration, any delivery receipts prepared by the seller and a proper delivery document for California sales and use tax purposes.  This is referred to by many in the industry as a “6247 statement.”  Beware, some tax representatives will charge you for this form.  This form when properly and completely executed and notarized will evidence the out of state delivery.  The insurance on the property can become effective as of this day.

Upon completion of the delivery, it is recommended that you immediately purchase fuel for the aircraft, using a credit card.  Doing so will generate a receipt that will contain the date, location, tail number, and the buyers signature.  Keep copies of all your documentation; you will need it to support your exemption.

The out of state delivery is only a small part of the exemption process.  There are many factors which come into play when the Board of Equalization is determining where the “place of sale” was.  They will look at the contract of sale, insurance binder, evidence of delivery, evidence how the parties converged upon the delivery location, FAA Bill of Sale, FAA Registration, and other pertinent information to develop their conclusion as to where the delivery occurred.  If there are conflicting dates, locations, or details, they may conclude that the delivery occurred somewhere other than where you intended, and classify your delivery as “ceremonial.”  This means your delivery may jeopardize the availability of the sales and use tax exemption from the onset.