Archive for November, 2012

Tax Relief Weekly News Round-Up

Friday, November 30th, 2012

The week after Thanksgiving was busy with tax news. Here are some of the topics we reported:
Tax Evasion

Scrap Metal Dealer John W. Hufgard, 59, of Bath, Ohio, was charged with three counts of tax evasion for allegedly evading approximately $397,659 in federal taxes for tax years 2007 through 2009.
John Giannelli Sr., 66, of Danvers, Mass. pleaded guilty to operating an illegal gambling business. The charges and prison sentences Giannelli is
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Tax Evasion of Nearly $400,000 by Ohio Scrap Metal Dealer

Thursday, November 29th, 2012

A scrap metal dealer was charged with three counts of tax evasion for the years 2007, 2008 and 2009 after he allegedly evaded nearly $400,000 in taxes by selling scrap metal for cash, sometimes traveling long distances with the metal to sell to businesses that agreed to pay in cash.
John W. Hufgard, 59, of Bath, Ohio, was the sole proprietor of Universal Service and Repair, which sold manufacturing racks to
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Charlie Sheen Pays Tax Lien for Lindsay Lohan

Thursday, November 29th, 2012

It appears Lindsay Lohan’s legendary IRS tax issues may be a thing of the past thanks to Charlie Sheen. According to a TMZ article, titled Charlie Sheen Paid Lindsay Lohan $100K to Cover Tax Debt the “no stranger to controversy” Sheen, befriended Lohan on the set of “Scary Movie 5” and decided to write her a check for $100K to help her pay down her massive tax debt, apparently out
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False Tax Return Filed by Tennessee Bail Bondsman

Wednesday, November 28th, 2012

Kenneth L. Richardson, 50, a Nashville, Tenn., bail bondsman, pleaded guilty to filing a false federal income tax return and to failing to file a federal income tax return. Richardson admitted that he and his wife filed a federal income tax return for year 2004 reporting an adjusted gross income of $52,714 when their income was at least $248,174. He faces up to four years in prison and a fine
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Federal Tax Evasion and Money Laundering: Massachusetts Man Guilty

Tuesday, November 27th, 2012

A Massachusetts man pleaded guilty to one count of money laundering, one count of operating an illegal gambling business, and five counts of impeding the administration of tax laws.
According to court records, John Giannelli Sr., 66, of Danvers, Mass., operated a sports-betting business while he resided in Peabody, Mass., and then Kingston, N.H. Giannelli controlled access to a gambling website and granted access to that site to agents or partners.
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Got Back Taxes? The IRS Payment Plan or Installment Agreement Can Help

Monday, November 26th, 2012

Question: I’m in a lot of tax trouble and owe more than I could possibly pay to the IRS. But how do I know if the Offer in Compromise or the Installment Agreement is right for me? I am so lost.

Answer: This is a great question, and the fact that you’ve come here to get an answer suggests you’ve taken the first step toward eliminating your tax troubles.
Whether the
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Tax Fraud Potential High for Refund Splitting

Monday, November 26th, 2012

As I have stated in previous blog posts, some of the largest challenges facing the IRS are identity theft and tax fraud. Currently, the IRS has been audited and is under pressure from the Treasury Inspector General for Tax Administration (TIGTA) to tighten the reigns regarding refund splitting. An article in Accounting Today titled Splitting Refunds May Lead to Fraud discusses a recent TIGTA report that scrutinizes refund splitting as
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Tax Relief Weekly News Round-Up

Friday, November 23rd, 2012

Happy Friday! Here are some of the tax relief news headlines we reported on this short holiday week:
IRS Audits-Back Taxes
It appears that comedian and actress Janeane Garofalo never thought she was married believing her 20 year “sham wedding” in Las Vegas to writer and producer Rob Cohen decades ago was not real. However, the IRS may not see it that way. They couple could face an IRS audit and IRS
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Actor Janeane Garofalo and IRS Back Taxes

Tuesday, November 20th, 2012

It appears that comedian and actress Janeane Garofalo did not know she was married for 20 years. The idea of not knowing something this significant sounds absurd, the fact that she may owe the IRS back taxes for her nuptials may not be. A Slate/Explainer article titled Does Janeane Garofalo Have to Amend 20 Years of Tax Returns? attempts to answer whether she and her “husband” will be required to
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Tax Fraud Charges by New York Senate Leader

Tuesday, November 20th, 2012

The former New York State Senate majority leader pleaded guilty to filing a false and fraudulent federal tax return for the year 2005.
Pedro Espada Jr. concealed money he took from Soundview Healthcare Center, where he was CEO and president, through a janitorial company he owned. Espada also defrauded the IRS of taxes owed on income he earned from the sale of a property on Leland Avenue in the Bronx by
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Former IRS Commissioner on Offshore Tax Strategy

Monday, November 19th, 2012

Douglas Schulman, the 47th IRS Commissioner spoke on November 7th before the professional association of the American Institute of Certified Public Accountants (AICPA) in Washington, DC.  In his speech, he talked about his last five years and where he sees the IRS focusing its attention in the future. The IRS posted former Commissioner Schulman’s prepared remarks that outlined major IRS strategic priorities. On the top of the list is a
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Tax Cheats Beware: The IRS is More Vigilant Than Ever

Monday, November 19th, 2012

With the IRS more vigilant and efficient, it’s never been more dangerous to cheat on your taxes.

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“I won’t get caught.”
I’ve heard a lot of people say that.
People who are cheating on their taxes.
People who are working with so-called tax advisors offering too-good-to-be-legal advice.
People hiding money in trusts or offshore accounts.
People not reporting a portion of their business income.
You know these people. In fact, these people may well include you.
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TRS President Brian Compton Wins Best in Biz Gold Award

Friday, November 16th, 2012

What a great week here at Tax Resolution Services, Co. (TRS)! This Wednesday, our firm received great news that President, Brian Compton was named the Gold Winner for the Business Development Executive of the Year category in the second annual 2012 Best in Biz Awards. I am very proud of Brian and it’s great to see him recognized for his outstanding leadership as one of the top executive in his
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Ohio Tax Protestor Faces Prison Time

Wednesday, November 14th, 2012

An Ohio woman who filed frivolous tax returns was charged with endeavoring to obstruct and impede the due administration of tax laws.
Terry E. Branco, 65, of Vermillion, Ohio, filed tax returns in which she stated her total adjusted gross income was zero. However, during the years Branco said she did not make money, she earned in 2004, 2005, 2006 and 2007, respectively, $109,403, $87,440, $93,277 and $113,845.
In 2008, following an
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Identity Fraud Victim Gets Expert Advice from Tax Team

Tuesday, November 13th, 2012

In September, I wrote a blog post about how identity theft issues were adversely affecting the financial lives of everyday people we know. I used the case of Robert “Sully” Sullivan, Big Biz Show radio and TV personality and friend of Tax Resolution Services, who had just discovered he was a victim of IRS identity theft and was inquiring what to do next. Since that last meeting, I met with
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