Archive for February, 2009

Cracking Down on Businesses with Payroll Taxes Problems: New Economic Stimulus Plan Calls for Heightened IRS Enforcement

Friday, February 27th, 2009

I recently blogged about the new economic stimulus package and how it affects your IRS bill. In addition to funding deficit-reduction activities, the federal government is looking at ways to close the tax gap by taking a closer look at employment tax returns.
According to the most recent estimates, payroll tax mistakes cost the IRS $15 billion – and tax experts agree that today’s figure is much greater! For several years
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How Does the New Economic Stimulus Law Affect Your Tax Bill?

Thursday, February 26th, 2009

The federal economic-stimulus packaged includes tax provisions focused on cutting marginal tax rates and expanding tax incentives.  While the new tax agenda increases taxes on upper-income Americans, it also includes plenty of tax cuts.

To fund deficit-reduction and other federal projects, the new stimulus law would increase a range of taxes – which falls in line with President Obama’s pledge to cut taxes for the middle class while allowing tax cuts
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Time is Running Out for Non-Filers to Claim the Tax Refund They’re Entitled To

Tuesday, February 24th, 2009

Last year, the government estimated that unclaimed refunds totaling approximately $1.2 billion were waiting to be claimed by about 1.3 million taxpayers who neglected to file a federal income tax return for 2004. While this year’s numbers haven’t been released yet, taxpayers still need to file their 2005 tax return with the IRS office no later than April 15, 2009 t0 be eligible for their tax refunds.
You will lose your
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Oregon Man Pleads Guilty to Tax Evasion

Tuesday, February 24th, 2009

Mark Arthur Henriksen, 56, of Monmouth, Ore., pleaded guilty to one count of income tax evasion for the year 2001.
In 2001 and 2002, Henriksen was a principal of Applied Technical Systems, a business in Lake Oswego that installs commercial data networks. In response to a prior IRS levy against him, Henriksen used a friend to act on his behalf as a nominee shareholder of the company in order to circumvent
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Ask The Tax Resolution Expert: Get Your Tax and Financial Questions Answered for Free

Tuesday, February 24th, 2009

IRS Problem Solver Michael Rozbruch at Free FM Los Angeles, originally uploaded by
Part of my job as is educating the public to help them make better decisions about their personal and business finances. That’s one of the reasons why I love this blog so much!
That’s why I’ve decided to start a regular feature where I answer questions from you! If you have questions about how you can resolve your
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IRS Settlement Helps Taxpayer in Tacoma, WA Save More Than $16,000

Monday, February 23rd, 2009

Wanted to share some kind words from a client in Tacoma, Washington. We were able to greatly reduce her tax liability by negotiating a tax settlement with the IRS on her behalf.
I did not have time or the knowledge to deal with the audit and you helped us with all the details. You were very helpful and informative. The process was explained in detail and this made our experience overall
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FY2008 IRS Tax Enforcement Numbers Show Vigilance

Monday, February 23rd, 2009

Though slightly down from 2007, tax enforcement number in 2008 were among the highest in a decade.
By Michael Rozbruch
The large number of tax evasion and audit cases you’re hearing about today isn’t a symptom of yellow journalism.
In fact, the fiscal-year 2008 tax enforcement numbers released by the Internal Revenue Service are among the highest in a decade.
In fiscal-year 2008, the IRS collected $56.4 billion through collection, examination and document-matching efforts.
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Thanks for the Kind Words … From a Tax Client

Sunday, February 22nd, 2009

From a recent client:
“I’m most impressed as to how my case was handled. Having my tax situation solved has changed my life for the better I will be forever grateful”.
- S. King
I’d Like To Hear From YOU!
Whether you’d like to avoid the IRS, contact the IRS, settle with the IRS or just want to refer a friend, relative or client, I’d love to hear from you. I would be happy
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Tenn. Businessman Gets 8 Months for Tax Evasion

Friday, February 20th, 2009

Thoeun Chan, 52, of Germantown, Tenn., was sentenced to eight months in prison and ordered to pay $207,142.30 in restitution following his guilty plea for tax evasion. Chan, owner of Handiworks Jewelry and Winchester Pawn and Jewelry in Memphis, admitted he failed to report about $274,875 in income for 2001 and about $277,277 in income for 2002. These false returns resulted in a tax loss of approximately $207,142.30.

IRS Question Corner … Will the IRS’s Offers in Compromise program work for me?

Thursday, February 19th, 2009

Question: I owe back taxes to the IRS. But how do I know if this Offer in Compromise will work for me? Am I eligible?
Answer:  I can’t say for certain whether you are eligible until I have an opportunity to meet with you in person and analyze your records. But certainly, if you owe back taxes to the IRS and you are unable to pay the debt, you may be
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Tax Shelter Dealer Faces 5 Years

Tuesday, February 17th, 2009

A financial services consultant based in Memphis pleaded guilty in New York to conspiracy to defraud the IRS in connection with tax shelters marketed by the accounting firm Ernst & Young.
According to the information filed in Manhattan federal court and statements made during the guilty plea, 46-year-old Charles Bolton, from 1998 to 2002, was involved with an E&Y group, known initially as “VIPER” for “Value Ideas Produce Extraordinary Results,” and
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Architect Guilty of Tax Evasion

Monday, February 16th, 2009

Architect Jeffrey Alan Carrithers, of Portland, Ore., pleaded guilty to one count of income tax evasion for the year 2000.
According to the plea, Carrithers received substantial taxable income in 2000 and owed a substantial amount of tax. He willfully attempted to evade taxes, however, by concealing his true taxable income from the IRS and by failing to pay the tax due and owing.

Church Sound Man Evaded Income Taxes

Sunday, February 15th, 2009

A Tennessee man, in pleading guilty to tax charges, told the court he owes the federal government more than $300,000.
Charles Grecco, 44, of Franklin, Tenn., was sentenced to serve 6 months in prison after pleading guilty to two counts of failure to pay taxes to the United States.
According to the government, Grecco failed to pay more than $67,000 in federal income taxes for years 2001 and 2002. During the plea
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Common Tax Filing Errors Cropping up on 2008 Returns Filed Early

Friday, February 13th, 2009

I received an interesting newsletter from Kiplinger with a few tax tips that I wanted to share. I also encourage you tocheck out Kiplinger for the 11 most overlooked tax deductions.

And remember, if you can’t afford to pay you taxes this year, there are options like negotiating a tax settlement or a payment plan. You can also seek professional tax help so that your account is placed under “currently not
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IRS Announces Unprecedented Opportunity for Recession-Burdened Americans to Settle Outstanding Tax Debts

Friday, February 13th, 2009

With tax season quickly approaching, the IRS has announced that it will be providing help to those Americans struggling to meet their tax obligations this year. This means that distressed taxpayers plagued by mounting medical bills, heavy reliance on Social Security assistance, or recent job losses may now be eligible for a tax break. Struggling taxpayers may be eligible for relief as IRS eases enforcement and collection efforts to help
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