Archive for October, 2012

Latest IRS Tax Scam Warning

Wednesday, October 31st, 2012

Lately, there have been weekly warnings coming from the IRS that caution taxpayers about tax scams or identity theft schemes. Because of their pervasive nature, I feel it’s important to mention each and every one so that taxpayers can stay alert and avoid becoming victims.

The latest announcement can be found on the IRS’s Problem Alerts Page where the following text is posted:

October 2012
Don’t Fall for Phony IRS Websites
The IRS warns
[Read More]

Understanding Payroll Taxes and Severance

Tuesday, October 30th, 2012

Recently laid-off employees who collected severance pay will want to understand their tax obligations to prevent any payroll tax problems from occurring. A recent Wall Street Journal article by Laura Saunders titled “When Severance Pay Is Subject to Payroll Tax” discusses two conflicting federal court rulings over whether severance pay should be subject to payroll taxes and if both employee and employer are entitled to claim a tax refund. For
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Response to Forbes Article on Persisting Tax Resolution Schemes

Monday, October 29th, 2012

Late Monday afternoon, I read a Forbes article by Stephen J. Dunn titled Tax Resolution Schemes Persist and was stunned. Not because of the subject matter, but by Dunn’s inability to recognize tax resolution firms as anything other than a “scheme” to be avoided at all costs. As someone who has helped thousands of taxpayers achieve permanent tax relief since 1998, I took issue with Dunn’s limited view on tax
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Landscape Company Owner Evades Taxes; Heading to Prison

Monday, October 29th, 2012

Mark S. Holpe, 61, of Midlothian, Va., was sentenced to 18 months in prison and fined $40,000 for evading the payment of federal employment taxes on unreported cash wages he paid employees of Nature’s Way Landscaping. Holpe had previously pleaded guilty to evading the assessment of $326,196 of employment taxes.
Holpe worked for Nature’s Way, a residential and commercial landscaping business in the Richmond area.  He was originally the president, but
[Read More]

Tax Relief Round Up-Top Tax Stories of the Week

Friday, October 26th, 2012

Happy Friday! Here’s a look at tax relief news headlines we reported on this week:
Tax Scams and Schemes

Tax scams, tax schemes and identity theft are plaguing the IRS and taxpayers alike. This week’s tax scam warning advises taxpayers to lookout for an e-mail that appears to come from the IRS focused on confirming the EIN#’s of S and C-Corporations. Do not click on any links instead delete it entirely! Scammers
[Read More]

Beware of More IRS Tax Scam Emails

Thursday, October 25th, 2012

Tax scams and identity theft have wreaked havoc on both ordinary citizens and the IRS. As a result, taxpayers are advised to stay alert to prevent tax problems brought on by such scams by not giving out personal information online.  Earlier this month, I wrote a blog post about a Better Business Bureau tax scam warning aimed at electronic filers. While thieves are becoming more adept at making correspondence look
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Tax Evasion of $2 Million by Auto Parts Stores Owner

Wednesday, October 24th, 2012

The president and owner of several auto parts stores in northern New Jersey was arrested and charged with structuring transactions to evade paying taxes on more than $2 million.
Emanuel Marques, 33, allegedly made more than $2 million worth of payments and deposits of less than $10,000 in order to evade taxes.
According to the government’s criminal complaint, from Nov. 15, 2005, through Feb. 13, 2012, Marques structured money order purchases and
[Read More]

IRS May Report Tax Debt to Credit Bureaus

Wednesday, October 24th, 2012

If you thought you could hide under the radar with your tax debt, think again. Because the government is hurting for revenue, lawmakers in Washington are getting more creative in collecting back taxes. Their latest consideration: report IRS tax debt to credit agencies. Accounting Today recently published an article titled, IRS May Report Tax Debts to Credit Bureaus that discusses the serious thought and consideration Congress has been giving this
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IRS Offer in Compromise Saves Tax Client Thousands

Monday, October 22nd, 2012

Every month Tax Resolution Services chooses a very special Tax Client Of The Month.  It’s our way of acknowledging good friends and saying “thanks” to those who support our business with referrals, word of mouth and repeat business.
This month’s Tax Client Of The Month is Mr. Jerry K.
When Mr. Jerry K. contacted our company, he owed the IRS over $30,000 in back taxes. After several months of negotiations, we were
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How to Hire the Right Tax Resolution Firm

Saturday, October 20th, 2012

This week’s Tax Spotlight video explains what taxpayers need to do before they hire IRS tax resolution firm. For those seeking tax relief, this information is important because you many choices in the marketplace, however, not all of them are good.

Since I began work in the tax resolution industry (in 1998), I have seen a rise (and fall) by some dishonest firms whose sole purpose is to mislead and deceive
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Warwick, Seagal and Minor Top Calif Tax Debt List

Friday, October 19th, 2012

Last week, California’s Franchise Tax Board released its “Hall of Shame” list of the top 500 individuals and businesses who owe the most in back taxes. According to an Associated Press (AP) article, Warwick, Seagal among those who owe Calif. Taxes, the most famous celebrity tax evaders topping the list are none other than singer Dionne Warwick and actor Steven Seagal.

Warwick, who has been delinquent since 2003 and now lives
[Read More]

IRS Question: Back Taxes and the Offer in Compromise Program

Thursday, October 18th, 2012

Question: I’ve heard people talk about the Offer in Compromise, and I owe a lot in back taxes to the IRS. In fact, I’m really not sure exactly how much I owe — but I know it’s more than I can pay. How do I know if I qualify for the Offer in Compromise?

Answer: There are a couple of points I’d like to make before addressing your specific question.
My
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Arizona Man Guilty of Wire Fraud, Tax Charges

Tuesday, October 16th, 2012

An Arizona man was sentenced to 48 months in federal prison for wire fraud and filing false tax returns.
Phillip E. Narum, 47, was found guilty at trial on the wire fraud charges and pleaded guilty to the tax charges.
According to court records, Narum was hired in 2004 as an independent contractor at Young and Sons Contracting, a family-owned and -operated construction firm in Tucson, Ariz. Between 2005 and 2008, Narum
[Read More]

Three Steps to Tax Relief If You Missed the October 15 Deadline

Monday, October 15th, 2012

For those people who are scrambling to get your taxes completed for today’s extension deadline, I hope you made it through. For those who have not yet filed because of panic and overwhelm take note; doing nothing to resolve IRS back taxes only makes matters worse and more expensive over time. This is because compounded interest and penalties will accrue and any future tax refunds that will go towards the
[Read More]

Tax Relief Weekly News Round-Up

Friday, October 12th, 2012

Happy Friday! Here’s a look at tax relief news headlines we reported on this week:
Tax Fraud and Tax Evasion

A California woman, Gwen Noel Luckette, 59, pleaded guilty to filing a false 2008 tax return with excessive federal tax withholdings that inflated her tax refund to $605,692 of which she was not entitled to.
Maria Eusebia Vega of Ceres, Calif., 51, was charged with three counts of filing false tax returns. Vega,
[Read More]