Archive for December, 2008

Tax Resolution Client of the Month: State Tax Debt Significantly Reduced

Sunday, December 21st, 2008

Every month I choose a very special Client Of The Month.  It’s my way of acknowledging good friends and saying “thanks” to those who support me and my expert team of tax attorneys, CPAs and enrolled agents.  This month’s Client Of The Month is Ronald Darnell.
Mr. Darnell’s debt to the California Franchise Tax Board was over $27K. After several months of negotiations, we were able to settle his tax debt
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IRS Agent Indicted on Tax Charges, Obstruction

Saturday, December 20th, 2008

A revenue agent with the Internal Revenue Service has been arrested in connection with a scheme to defraud the government by claiming he suffered a loss when he sold his real estate when, in fact, he realized a substantial profit.
Jim H. Liu, 42, of Diamond Bar, Calif., is an IRS revenue agent who conducts audits of taxpayers. He was arrested at Los Angeles International Airport. Liu was indicted by a
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Relief for Victims of Investment Scheme - Deducting Investment Tax Losses Can Help Madoff Fraud Victims Recover Their Financial Losses

Thursday, December 18th, 2008

The list of investors reportedly defrauded by Bernie Madoff’s Ponzi scheme continues to grow. Victims of the $50 billion scam include banking institutions, various charities and a long list of celebrities including Steven Spielberg, Jeffrey Katzenberg, and screenwriter Eric Roth.
Experts are saying it’s one of the biggest Ponzi schemes in the history of Wall Street. But what many people may not know is that these victims of investment fraud can
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Former Casino Owner Gets 15 Months for Tax Evasion

Thursday, December 18th, 2008

The former owner of Lucky Chances Casino in Colma, Calif., was sentenced to 15 months in prison and ordered to pay $973,841 in income taxes.
Rene Medina had previously pleaded guilty to tax evasion.
According to the plea agreement, Medina admitted that from July 1999 to June 2007, he was the sole shareholder of Lucky Chances, a casino/card club.
Lucky Chances filed U.S. Income Tax Returns for a Subchapter S Corporation (Form 1120S)
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Great Tax Blogs - For More Tax Insight and Information

Wednesday, December 17th, 2008

After 30 years of working in business and finance, I have developed a reputation for being a go-to IRS problem solver for businesses and individuals.  Then earlier this year, I decided to start blogging so I could help even more people with tax relief tips and advise. I wanted to take a moment to thank everyone for their readership, support and feedback!
Additionally, here are some tax blogs that I like
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The Most Important Tax Tip of the Year - File An Accurate Tax Return to Reduce Your Chances of an IRS Audit

Tuesday, December 16th, 2008

I’ve been talking about how we’re sure to see another surge in IRS enforcement with the growing government deficit.  With audits on the rise, the most important thing to remember this year is to make sure your tax return is accurate because you don’t want to take any chances with the IRS.
A recent article on bloomberg.com talked about how the IRS will be looking for every dime it can get
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10 Things Taxpayers Can Do Before December 31, 2008 to Reduce the Tax Bill Due on April 15, 2009

Monday, December 15th, 2008

Start getting your 2008 taxes ready now with these year-end tax tips! Don’t wait till April to start thinking about your taxes. With the sluggish economy, you have to get started on trimming your taxes now, before the end of the year!
For 2008, savvy income and deduction management can help taxpayers make the most of a bad year. Knowing your rights as a taxpayer and how to avoid filing penalties
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Year End Tax Tips for Your Small Business - Live on BlogTalkRadio, December 31

Sunday, December 14th, 2008

Please join me on Wednesday, December 31 at 10:00 AM (PST) on Blog Talk Radio for a live 1-hour installment of Business Matters - Where Your Small Business Matters. I will be discussing more year-end tax tips for small businesses with host Regina McRae, owner of Grandma’s Secrets, New York’s only dessert delivery company. This is a great show for anyone who runs their own company because Regina discusses important
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Tax Laugh For a Friday

Friday, December 12th, 2008

We get a lot of great emails from our tax resolution clients (long after we help them get tax relief, they stay in touch!) One email received today made it around the office, so we had to share it on our blog.  Enjoy!
Your House As Seen By:
Yourself…

Your  Buyer…

Your  Lender…

Your  Appraiser…

Your County’ s Tax Assessor…

Happy Friday!

Save Money and Reduce Your IRS Bill With Simple Year-End Tax Tips

Thursday, December 11th, 2008

In this troubled economy, tax planning has never been more important, and small businesses and individuals can get started on trimming taxes now, before the end of the year.
I recently blogged about the things taxpayers can do before December 31, 2008 to reduce the tax bill due on April 15, 2009.
It has been a bad year for many, so it’s crucial to employ financial strategies that can help alleviate potential
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Tips for Preparing Your 2008 Tax Returns - Michael Rozbruch on KTLA’s Pacesetters

Wednesday, December 10th, 2008

Please tune in to KTLA’s Pacesetters on Sunday, December 14 at 6:00 am. I will be discussing How To Prepare Your 2008 Tax Returns with host Ray Gonzales. I will be sharing my expert tax strategies to help you minimize your tax liability.
I will share advice for taking advantage of popular tax breaks and knowing whether to take standard or itemized deductions. Additionally, we’ll talk about how charitable giving, capital
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Suspicious IRS Email Warning - Don’t be a Victim of Identity Theft and Avoid this Phishing Scheme

Monday, December 8th, 2008

I want to warn everyone about a new email tax scam that has been circulating. It is targeted at  “non-resident aliens” who are asked to fill out 2 official-looking IRS forms that are attached and fax them back to a 646 area code number.
The email header reads:

From: Internal Revenue Service [mailto:nonereply@irs.gov]
Subject: please see the attachment
According to the IRS web site:
A bogus IRS letter and Form W-8BEN (Certificate of Foreign
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Brazilian Racing Star Faces U.S. Tax Evasion Trial

Friday, December 5th, 2008

Brazilian race-car driver and “Dancing with the Stars” winner Helio Castroneves faces a tax-evasion trial in March 2009 in a Miami federal courtroom.
Castroneves, 33, a two-time winner of the Indianapolis 500, pleaded not guilty in October and is free on $10 million bail.
Federal prosecutors charged the driver-turned-dancer with one count of conspiracy and six counts of tax evasion, alleging he failed to report $5.5 million in income from 1999 to
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The IRS Steamroller Just Getting Started - Tax Evasion and Tax Cheats Beware!

Wednesday, December 3rd, 2008

Have you been naughty or nice? Uncle Sam wants to know — and he’s doing a lot to find out!
By Michael Rozbruch
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For U.S. taxpayers cheating here and there — or maybe just about everywhere — on their taxes, this news should send a chill up the spine.
Federal prosecutors in Miami have indicted not Joe Six-Pack for tax evasion — but Joe Six-Pack’s boss’ boss’ boss.
Raoul Weil, a senior executive of
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Software Designer Gets 21 Months for Tax Evasion and Tax Conspiracy

Tuesday, December 2nd, 2008

Fayez Damra, aka Alex Damra, was sentenced to 21 months custody and three years supervised release. He was also fined $50,000 and ordered to pay $274,389 in restitution to the IRS.
Damra, 43, who resides in Henderson, Nev., was convicted by a jury of conspiring to defraud the United States in connection with an alleged conspiracy in which Fayez distributed funds from his computer software design corporation, known as Applied Innovation
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