Search Results
Thursday, August 19th, 2010
After news broke last fall that the Swiss Bank, UBS was under attack for hosting undeclared, offshore accounts and holding seminars educating Americans on “overseas tax reduction strategies”, the Internal Revenue Service has now devoted a specific department focusing on individuals worth $10 million or more in assets, Multinational and International corporations participating in transfer pricing among other avenues potentially evading millions of U.S. tax dollars every year. Anyone that believes they might owe back taxes for undeclared, offshore accounts or believes they might need tax relief after meddling with what the IRS has set out to discover will require immediate tax help to avoid possible prosecution and extreme penalties!
The New York Times recently released an article discussing the “I.R.S. Shift To Combat Tax Evasion”. They discuss the specific increase in examiners assigned to the new department honing in on these large corporations and individuals who have been taking advantage of the gray areas of the tax code. In addition, this new focus will be determining whether international banks will be complying with the Foreign Account Tax Compliance Act, which will require them to disclose all undeclared, offshore accounts or they will withhold 35% on the accounts!
If there is a chance you may require tax relief, call us today or visit us online and get the help you need from professionals with experience and expertise with offshore tax-evasion defense. We will take over all communication with the IRS, make the required disclosures, file FBAR reports, and alleviate your risk of spending the next 5 to 10 years in prison. FBAR tax penalties can burden you with as much as 200-300 percent of the asset value of the offshore account!
You can also read more about what you can do to reduce severe FBAR penalties.
Do not wait for the IRS to come after you, we will help you resolve your IRS. problems before it’s too late. With a tax relief success rate of 90%, we are second to none in the industry and an Offer in Compromise (OIC) Settlement Rate of $0.106 on the Dollar!
If you are someone who believes you or your company might be a potential victim of the IRS’s new focus, our team of expert tax attorneys, CPAs and Certified Tax Resolution Specialists are waiting to assist you. Get ahead of the game, contact our team and get the expert representation and advice you require! As the leading offshore tax evasion defense firm, you can rely on our expertise to assess and handle your needs before they escalate.
For help resolving IRS problems related to undisclosed foreign funds, call our office at (888) 699-7630 for a free, no-risk tax resolution consultation or visit www.taxresolution.com.
Tags: Back Taxes, failing to file income from overseas accounts, FBAR, filing false tax return, Free Tax Consultation, hiding income, IRS payment plan, offshore tax defense, seeking tax help, seeking tax help with overseas accounts, Swiss bank accounts, tax evasion, tax help, tax relief, Tax Relief Success, tax resolution services, UBS, underreport income, undisclosed overseas accounts, Voluntary Disclosure
Posted in Back Taxes, Offshore Tax Settlements, income tax relief | No Comments »
Thursday, August 19th, 2010
Tax evasion is a serious crime and punishable with fines and prison sentences. Why put yourself in a situation like this? If you have tax problems hanging over your head, we can help you resolve them. Tax Resolution Services is a tax firm that specializes in tax relief by resolving tax problems and settling back taxes. Feel you can’t pay all the taxes you owe? There are many options out there – like a reasonable IRS payment plan (also known as an Installment Agreement) and even programs where your tax debt could be seriously reduced if you qualify (known as the Offer in Compromise program). Face your tax problems! Don’t evade taxes . . . eventually you will get caught and pay a hefty price, like this NY politician!
A former Nassau County (N.Y.) legislator received 18 months in prison for tax charges.
Roger Corbin, 63, pleaded guilty to seven counts of an indictment charging him with tax evasion and filing false federal tax returns for the years 2005 to 2007 and making false statements to FBI and IRS agents.
While serving as a Nassau County legislator, Corbin received more than 80 checks, totaling more than $229,000, from a developer who was doing business in Corbin’s district. Corbin deposited those checks, which were all made payable to “Cash,” into his personal bank accounts and used the money to support his lifestyle but did not report any of the money as income on his original 2005, 2006 and 2007 federal income tax returns and did not pay any taxes on that income.
In addition, when he was interviewed by FBI and IRS agents, Corbin falsely denied using any of the money from the developer for his personal benefit and claimed that he had given the money to an individual who was purportedly paying workers at the developer’s construction sites.
A free tax consultation will help you get on the road to tax relief. Call Tax Resolution Services today at (888) 699-7630 and rest assured that your tax problems will soon be a thing of the past!
Tags: Back Taxes, evading taxes, filing false federal tax return, Installment Agreement, IRS payment plan, Offer in Compromise, resolving tax problems, tax charges, tax evasion, tax firm, tax problems, tax relief, tax resolution services
Posted in IRS Tax Cases, IRS Times and Inquirer | No Comments »
Tuesday, August 17th, 2010
In the featured article below, a priest learns that God wasn’t the only one watching him cheat on his taxes – the IRS was too! Tax evasion, under reporting income, or hiding income is all the same. It is a federal offense and is usually punishable by a hefty fine and prison time. I have said it on this tax blog time and again – if you are cheating on taxes, you will get caught. The more money you hide, the bigger your punishment will be. So if you owe back taxes, there is no time like the present to ask for tax help from Tax Resolution Services. Let me reiterate, we do not help you evade taxes, we settle your tax debt and help you find permanent tax relief so you can go forth with a clear conscience!
A Roman Catholic priest, Samuel R. Ciccolini, 66, of Akron, Ohio, was charged with one count of structuring financial transactions to evade reporting requirements and one count of making and subscribing to a false tax return.
The information alleges that from April 2003 to June 2003, Ciccolini, knowingly and for the purpose of evading the reporting requirements for financial transactions, made a structured deposit of $1,038,680 in U.S. currency by 139 individual cash deposits at bank branches in the Akron area.
The information further alleges that on April 15, 2004, Ciccolini willfully made and subscribed an individual tax return and verified in writing that his personal taxable income for the tax year 2003 was $101,064, whereas he then knew his actual income was $407,062.00. The information charges that the unreported taxes for the 2003 tax year was $129,432.00.
In addition to being a Roman Catholic priest, Ciccolini is executive director of Interval Brotherhood Home, a drug and alcohol rehabilitation facility.
The investigation leading to the information was conducted by the IRS and the Bureau of Immigration and Customs Enforcement.
Tax Resolution Services offers a free tax consultation by calling (888) 699-7630 or filling out this simple form on our website. Let us find a way to settle your back taxes. View our complete list of tax relief services.
Tags: evading taxes, filing false tax returns, help with back taxes, help with taxes, settle back taxes, settle tax debt, tax blog, tax consultation, tax evasion, tax relief, tax resolution services, under reporting taxable income, under reporting taxes
Posted in IRS Tax Cases, IRS Times and Inquirer | No Comments »
Sunday, August 15th, 2010
We know that bad things can happen to good people–after all, it’s a part of life! What many taxpayers may not know is that the IRS is indiscriminately aggressive when it comes to chasing tax evaders–whether you’re a multi-million dollar celebrity or a Joe Six-Pack. It’s easy to erroneously believe that the IRS is too busy to scrutinize the “small fries” and will instead focus only on catching “The Big Ones.”
One of the worst mistakes a taxpayer can make is to underestimate the power and reach of the IRS. Tax problems can result from a number of different causes. Recently, we have seen how serious the IRS is about collecting back taxes and penalizing those who have inadvertently or deliberately evaded their tax payments.
Take the latest celebrity tax evaders roundup for example:
- Wyclef Jean Owes the IRS More Than $5 Million in Back Taxes.
The runner-up for Haiti’s president, Wyclef Jean (real name Nel W. Jean) allegedly owes the IRS more than $5.2 million in back taxes from three different states: New York, New Jersey, and Florida. Given that this is Wyclef Jean’s second financial scandal–the first being his questionable spending of the funds from the Wyclef Jean Foundation which was established to help rebuild Haiti after the earthquake, Wyclef Jean has more than a handful to deal with.
- Khloe Kardashian Officially Has More Back Than Kim–Taxes, That Is.
Owing a whopping $18,490.74 to the State of California, Khloe Kardashian is now frying in the IRS spotlight instead of bathing in the sunny California sunshine.
- Former G-Unit Rapper Young Buck’s Home Gets Raided by IRS.
The IRS raided Buck’s house on August 3rd at gunpoint to seize any possessions of his that may be applied toward the payment of his $300,000 in back taxes. The IRS let Young Buck keep his house and car, but seized personal computers, his son’s PlayStation, and the rapper’s home studio–with which he uses to make music.
The truth is, no one is safe from the IRS’s grasp – not even A-list celebrities like Wesley Snipes, Nicholas Cage, O.J. Simpson, and many others. These celebrities have faced some severe IRS charges and penalties for evading large sums of tax payments.
While it may be difficult for many taxpayers to directly relate to owing the IRS millions of dollars in back taxes, these celebrity IRS tax evasion stories still teach regular taxpayers a valuable lesson: the IRS will absolutely find you if you cheat on your taxes.
Don’t fall for the common misconception that the IRS “only goes after the big fish.” The truth is, the IRS is just as enthusiastic about going after the average folks–taxpayers like you or your neighbor.
Don’t mistake your chances of getting caught by the IRS. If you think that you may be in IRS trouble, the best thing to do is to be proactive about resolving your tax problems. Many times, the IRS penalties are much more severe if the IRS finds you before you go to them. Get tax help now if you fear that you may be next.
At Tax Resolution Services, we are dedicated to providing affordable solutions to businesses and individuals alike who find themselves in trouble with the IRS. For more information or to receive a FREE tax relief consultation, visit www.taxresolution.com or call 888-699-7630.
Tags: Back Taxes, Celebrity Tax Woes, IRS debt, IRS help, irs problems, Khloe Kardashian, Michael Rozbruch, tax attorney, tax help, tax relief, Wyclef Jean, Young Buck
Posted in Back Taxes, Celebrity Tax Woes, IRS help, Seeking Professional Tax Help, Tax Blogs, Tax news and tips, Unfiled Returns - Delinquent Tax Returns, tax help | No Comments »
Tuesday, August 10th, 2010
Leonid Zaltsberg has lived an extraordinary life. The 76-year-old from Milltown, N.J., played for the Soviet Union’s national soccer team, competed in the World Cup, and now works with Ukraine’s national team.
He’s also now part of another extraordinary group: U.S. tax cheats who’ve been convicted of evasion following the release of account information from Swiss bank UBS.
Zaltsberg pleaded guilty in New Jersey to subscribing to a false tax return, admitting that he concealed more than $2 million in a UBS account. What’s more, Zaltsberg also admitted that, as with other U.S. taxpayers who kept secret accounts in Switzerland, he did not disclose the account on the IRS’s required form, known as a Report of Foreign Bank or Financial Accounts.
For that, Zaltsberg will pay dearly. He faces up to three years in prison and a fine of up to $250,000. In addition, Zaltsberg will pay a civil penalty equal to 50 percent of his highest Swiss bank balance during the period from 2000 to 2007.
Zaltsberg’s guilty plea, his possible prison sentence and his substantial civil penalty were made possible only through a historic deal between the Swiss and U.S. governments that effectively pierced the once impenetrable Swiss banking veil.
That deal, which came with a $780 million fine to UBS for helping U.S. taxpayers evade income taxes, forces the Swiss to release the details of more than 4,450 account holders suspected of evading U.S. income taxes.
For a man such as Zaltsberg, the news is that he’s not alone. There could 4,449 others who will receive similar punishments.
But for U.S. taxpayers who may be using other means to hide their monetary assets from the IRS, Zaltsberg’s prosecution and agreement with the Swiss government should be terrifying.
Here’s why: By piercing the Swiss banking veil, the U.S. government shows its ability to take down the world’s largest offshore banking center — once long viewed as the globe’s most secure tax shelter. And now that the Swiss tax shelter has been pried opened, the U.S. government is going after tax shelters in other nations. At the top of the list are banks in Singapore and Hong Kong.
In fact, the U.S. Department of Justice is opening a criminal inquiry into Asian clients of HSBC Holdings, Europe’s largest bank.
Reuters, the financial newswire, quoted unnamed IRS officials in July saying the tax-collecting agency expects a significant amount of tax cases to come out of Asia.
Those who follow the use of offshore tax shelters say Asia benefited from Switzerland’s vulnerability, with many bank account holders moving their money to places like Singapore and Hong Kong as U.S. officials put heats on Swiss banks and government officials.
Ask yourself: Are they following your money?
Contact out special division for overseas tax evasion defense TODAY! If you are in IRS trouble for undisclosed foreign funds, call our office at (888) 699-7630 for a free, no-risk tax resolution consultation or visit www.taxresolution.com.
Tags: FALSE TAX RETURNS, i need tax help, IRS enforcement, offshore accounts, tax advice, tax cheat, tax evasion, tax help, tax relief
Posted in IRS Tax Cases, IRS Times and Inquirer, IRS help, Offshore Tax Settlements, Tax Scams, Tax news and tips, income tax relief, tax help | No Comments »
Thursday, July 29th, 2010
How does that old saying go? If you can’t beat them, join them. This message is for all the people who think they can beat the IRS by cheating on their taxes, filing fraudulent tax returns or hiding their income. If I have to spell it out for you, I will. The bottom line is, you can’t beat the IRS. So you might as well join the masses of US citizens that diligently pay their taxes every year. And if you feel that you can’t pay what you owe, then you need to seek out professional tax help. For example, Tax Resolution Services has a team of tax attorneys and Certified Tax Resolution Specialists that are available to help you get tax relief. The IRS has payment plan options, a program that allows you to pay less than what you owe (Offer in Compromise) if you qualify, allows you to file delinquent tax returns, offers tax relief for innocent spouses and much more. Believe it or not, the IRS can be flexible, especially when you’ve got a tax expert guiding you through the hoops. The IRS is not flexible only when you cheat on your taxes! You can pretty much expect prison time and a hefty fine each time!
Robert L. Braddy Jr., 39, of College Park, Ga., was sentenced to two years and six months in prison for income tax evasion. He was also ordered to pay $306,906 in restitution.
Braddy was immediately remanded to the custody of the U.S. Marshals Service at the conclusion of the sentencing hearing.
According to court records, when Braddy filed his 2003, 2004 and 2005 federal income tax returns, he willfully attempted to evade a large part of the income tax he owed the United States by filing a false and fraudulent U.S. Individual Income Tax Return (Form 1040).
For each of the returns he filed, he knew that his total income and the tax due and owing substantially exceeded the amounts he reported.
Braddy under reported his income by more than $1.1 million and underpaid his income taxes by $306,906
“This defendant hid $1 million in income and cheated his fellow citizens who pay their fair share of taxes. Now he is going to prison,” said United States Attorney Sally Quillian Yates in a statement.
Braddy is not eligible for parole.
Tax Resolution Services offers a free tax relief consultation. Call 1-866-IRS-PROBLEMS (1-866-477-7762) today or fill out our online tax consultation form to get you on the road to tax relief today!
Tags: certified tax resolution specialist, delinquent tax returns, expert tax help, filing fraudulent tax return, Free Tax Consultation, hiding income from the IRS, innocent spouse tax relief, irs problems, Offer in Compromise, professional tax help, tax attorney, tax evasion, tax relief, tax resolution services
Posted in IRS Tax Cases, IRS Times and Inquirer, IRS help, Innocent Spouse, Offers in Compromise, Seeking Professional Tax Help | 1 Comment »
Sunday, July 25th, 2010
I see tax cases every day where a person has evaded taxes, hidden assets, failed to file a tax return and more. What happens to their spouse (or ex-spouse) if they had nothing to do with the bad tax decisions of their partner? These situations occur and the IRS has set up a provision for people in this situation, provided that they qualify. It is known as Innocent Spouse Relief (or Tax Relief for Innocent Spouses) and if you find yourself in a tax problem that you had no idea about, and believe that you may qualify for Innocent Spouse Tax Relief, contact Tax Resolution Services to help you sort this through. Why face prison and hefty fines and a criminal record if your spouse foolishly thought that he could declare only $5 in income and get away with it?
Reginald Caillouet Jr., 61, of Houma, La., was charged in a one-count bill of information with tax evasion.
According to court records, in April 2006, Caillouet attempted to evade paying approximately $43,487 in income tax by filing a false 2004 tax return that stated he did not have any tax due. Caillouet said his income for 2004 was only $5, when in fact, as Caillouet well knew, his taxable income was at least $117,928.
If convicted, the Louisiana man faces up to five years in prison and a fine of up to $100,000 as well as two years of supervised release following any prison term.
Read the Innocent Spouse Tax Relief FAQs on our website. Request a free innocent spouse tax relief consultation by filling out the online form or calling 1-866-IRS-PROBLEMS (1-866-477-7762). Tax Resolution Services can help you qualify for Innocent Spouse Tax Relief and also provides many other tax relief services.
Tags: do i qualify for IRS innocent spouse tax relief?, Innocent Spouse, IRC 6015, tax evasion, tax relief, tax relief for innocent spouse, tax relief services, tax resolution services
Posted in IRS Tax Cases, IRS Times and Inquirer, IRS help, Innocent Spouse | No Comments »
Thursday, July 22nd, 2010
Do you have an IRS tax audit pending? Did you know that over 50% of the referrals that the Criminal Investigation Division (CID) gets are from the IRS agents who interviews you for the tax audit? IRS tax audits are serious! Your answers from the initial audit meeting can determine your fate! Tax Resolution Services highly recommends that you seek expert tax representation before your IRS audit happens. At Tax Resolution Services, we have a team of Certified Tax Resolution Specialists and tax attorneys who have managed tax audits spanning from individual taxpayers to Fortune 50 companies. When you face the auditor, you want a Tax Resolution Specialist on your side. Tax audits may be scary, but they are intended to find those that are really cheating the IRS and others out of money. The man in the article below, for example, was most likely caught by an IRS tax audit – and he sure paid the price!
Thomas Shakespeare, 63, of Avon, Ind., was sentenced to 42 months in prison after pleading guilty to embezzling $583,270 from his employer and multiple counts of tax evasion.
From March 2002 to November 2008, Shakespeare, while working as controller for Advantage Marketing Inc., made fraudulent entries to the business’ payroll systems over this six-and-a-half-year period. These fraudulent entries allowed him to receive higher paychecks on 147 occasions, totaling more than $583,000.
Shakespeare was also convicted of five counts of income tax evasion for the tax years 2003 to 2007. He failed to file income tax returns and failed to pay taxes on the embezzled funds as well as his normal salary.
Shakespeare was also sentenced to serve two years of supervised release following his prison term and ordered him to pay $583,270 in restitution to Advantage Marketing. In addition, Shakespeare will forfeit his home, two cars and more than $40,000 in his retirement account. The amount of forfeited property is estimated to be worth approximately $200,000.
If you need tax representation for an IRS tax audit, contact Tax Resolution Services at 1-866-IRS-PROBLEMS (1-866-477-7762) for a free tax consultation. We can help you with your tax audit and many more tax relief services!
Tags: certified tax resolution specialist, expert tax representation, failing to file income tax returns, failure to pay taxes, Free Tax Consultation, income tax evasion, IRS audit, IRS audits, IRS cheat, IRS Criminal Investigation, irs problems, IRS tax audits, tax attorneys, tax auditor, tax consultation, tax evasion, tax relief services, tax resolution services
Posted in IRS Tax Cases, IRS Times and Inquirer, IRS help, IRS tax audit, Seeking Professional Tax Help | No Comments »
Wednesday, July 21st, 2010
I am assuming that most people who evade taxes do so because they want to keep the money all for themselves. Well, for all of those currently evading taxes, I say enjoy it while it lasts . . . because it won’t last long. Once the IRS catches up with you, and I am not saying “if” the IRS catches up with you (because they will!), you will not only have to pay the back taxes you owe, but you will get hit with penalties and interest and maybe even prison time. The gentleman in the article below now has a record and is ordered to pay back much more than half of the income he received for tax evasion.
David Thomas, 56, Killingworth, Conn., was sentenced to three years of probation for failing to pay taxes on more than $120,000 in income. According to court records, Thomas was retained by the Cedar Island Improvement Association to provide legal assistance. Thomas received $120,977.22 from the association that he then failed to report. Thomas must pay approximately $80,744 in back taxes, penalties and interest.
If you haven’t filed your taxes, and owe back taxes and possibly more, there is no time like the present to straighten out your tax problems! Do it now before the IRS catches up with you! Tax Resolution Services has been settling tax debt and IRS problems for more than a decade. Together our tax attorneys and Certified Tax Resolution Specialists have more than 150 years of combined experience! We also offer a free tax consultation – call us today! 1-866-IRS-PROBLEMS (1-866-477-7762). Find tax relief today, rest easy tomorrow!
Tags: Back Taxes, failing to file tax returns, Free Tax Consultation, irs problems, owe back taxes, pay back taxes, straighten out tax problems, tax problems, tax professional, tax relief, tax resolution services
Posted in Back Taxes, IRS Tax Cases, IRS Times and Inquirer, IRS help, Seeking Professional Tax Help, Tax Relief News | No Comments »
Tuesday, July 13th, 2010
After the deal almost fell apart, the Swiss parliament and Swiss bank UBS agree to provide data to the IRS, finally collapsing the world’s most famous tax shelter.
With an historic deal on the brink of collapse, the Swiss parliament has approved the release of banking data to the Internal Revenue Service.
The deal, brokered in the wake of a Department of Justice investigation of Swiss banking giant UBS, pierces the Swiss banking veil and destroys a tax shelter so famous it has become a common pop-culture reference.
Now, UBS is in position to release the details of 4,450 offshore account holders suspected of evading U.S. income taxes.
For UBS, the decision to release the data came with significant arm-twisting from the U.S. government. In February 2009, UBS agreed to pay the U.S. government $780 million in order to put an end to criminal charges alleging the bank helped U.S. clients evade taxes.
For U.S. taxpayers engaged in tax evasion, the agreement with UBS and the Swiss government should come as startling news.
What was once considered an impenetrable veil — a tax shelter so strong it had survived two World Wars and an international banking crisis — is no more.
The IRS will soon obtain data and information on U.S. taxpayers who have evaded taxes for years, even decades. So if you have delinquent tax returns, this concerns you.
While it’s true that Swiss banks tended to be the tax shelter of choice for the wealthiest of U.S. taxpayers, the UBS deal is just as important to those evading taxes through other means.
In short, the U.S. government’s success in piercing the Swiss banking veil should prove finally that no tax shelter is safe.
Indeed, previous actions from the IRS support that conclusion.
Before the Swiss agreement, the U.S. government brokered a deal with the major credit card companies to provide information on clients who were linking their credit cards to offshore bank accounts, primarily in the Caribbean. At the time, a common tax-avoidance scheme was to funnel money into a Caribbean account, then use it to pay credit card bills full of purchases made in the United States.
The tax evaders who employed this scheme either came forward during the amnesty period or were prosecuted, just as the UBS account holders likely will be.
With a record deficit and a slow economic recovery, the federal government has made tax collection and enforcement a top priority. This year, the U.S. Congress approved a record $5.5 billion enforcement budget for the IRS.
That means the IRS will have even more agents this year to audit taxpayers and investigate tax cheats — part of a three-year trend of putting more revenue officers on the streets.
So let’s summarize:
The IRS stopped the use of credit cards linked to offshore accounts.
The U.S. Department of Justice pierced the Swiss banking veil.
Tax Resolution Services is a team of expert tax attorneys, CPAs, and Certified Tax Resolution Specialists who are here to help your IRS tax problems so that you can get the IRS tax relief you need. Give us a call today at 1-866-IRS-PROBLEMS for a free, no-risk tax resolution consultation or visit www.taxresolution.com.
Tags: delinquent taxes, failing to file federal tax return, irs problems, tax cheats, tax evasion, tax relief, unfiled tax returns
Posted in IRS Times and Inquirer, IRS help, Tax news and tips, Unfiled Returns - Delinquent Tax Returns, tax help | 2 Comments »
Friday, June 25th, 2010
In recent tax court news, the IRS re-affirmed the need for proper, paper-trail evidence when claiming deductions on your tax returns. A couple based in Alaska filed their tax return with medical expense and home deductions, however they failed to supply any evidence of the costs associated with these deductions. Furthermore, their return was filed late. Without providing sufficient evidence, your claims are in effect meaningless. The combined effects of these tax blunders result in late filing penalties and unacceptable deductions.
CCH (http://intelliconnect.cch.com) reports:
The IRS’s disallowance of a couple’s claimed deductions for medical expenses and home mortgage interest was sustained, and the failure to file penalty was imposed, based on the evidence the couple provided. Since the couple failed to provide any proper substantiation to support their claimed deduction for medical and dental expenses, no estimate of the amounts could be made. Also, the couple was not entitled to deduct home mortgage interest with respect to a loan because the debt was not acquisition or home equity indebtedness for which interest could be deducted. Finally, the couple failed to offer any evidence of reasonable cause and lack of willful neglect for their failure to timely file their return.—CCH.
When filing your tax returns, individuals are allowed to make various deductions, including expenses the taxpayer paid for medical care and treatment for himself, spouse or dependents. However, this deduction is valid if the expenses exceed 7.5% of the adjusted gross income of the taxpayer and are not compensated for by insurance. Taxpayers can also make deduction claims for home mortgage or “qualified residence interest” – interest paid while acquiring a residence. This amount too is limited based on the market value of the residence in question and cannot exceed $100,000.
In this IRS case, the taxpayers in question failed to provide evidence of medical and home mortgage expenses. For example, providing invoices, name and addresses for payments made, amount and dates of payment, etc. When such evidence is not supplied with the tax return, the IRS can deny the deductions requested/claimed. This is quite simple, really. If you cannot support your claim with written documented proof, your claim does not exist in the eyes of the IRS. This not only results in possible court trials and disputes, but will incur additional fees for interest, lawyers and other fees associated with the delayed processing of your tax return.
In this weak economy, it is understandable that many taxpayers feel the need to reduce the amount of taxes paid throughout the year and seek various deductions on their tax returns. While you are allowed to claim for deductions, ensure you are doing it correctly by supplying the necessary documentation. Remember, you need to show the IRS that your deduction in legitimate – what you deducted, when, why and how much.
It is important to realize that deliberate evasion of income taxes through false deduction claims will only lead to more IRS penalties and fines down the road. If you have any tax problems such as back taxes or filing late tax returns, it is recommended that you resolve them immediately to avoid further penalties.
If you have IRS problems, you can consult tax help from a tax attorney, CPA, or Certified Tax Resolution Specialist. Tax Resolution Services is a dedicated team of tax experts who are here to help you. Call our office today at 1-866-IRS-PROBLEMS or visit www.taxresolution.com for a free tax relief consultation.
Tags: Back Taxes, CCH, certified tax resolution specialist, claiming false deductions, delinquent tax returns, failing to file federal tax return, filing false federal tax return, income tax relief, IRS penalties, IRS tax problems, tax advice, tax fraud, tax problems, tax resolution, tax resolution services
Posted in Back Taxes, IRS Tax Cases, Tax news and tips, Unfiled Returns - Delinquent Tax Returns, income tax relief, tax help | No Comments »
Friday, June 18th, 2010
This week the Swiss parliament accepted a treaty with the United States, agreeing the terms which would have UBS, Switzerland’s largest bank, disclose the names of 4,450 American account holders suspected of tax evasion to the IRS. This decision comes after a three year battle between U.S. tax authorities, the IRS and the Swiss bank over the bank’s involvement in allowing American clients to cheat the tax system by hiding millions of dollars in offshore accounts.
The current tax laws require taxpayers to report all income from domestic and foreign sources – failing to do so whether intentionally or unintentionally is a form of tax evasion and could be financially crippling.
If you have funds overseas, particularly with UBS and have not yet disclosed them to the IRS, now is the time to do so. I cannot emphasize enough how important it is for you to be completely honest with the IRS and go to them before they get to you. And they are certainly coming after UBS’s clients!
Yesterday, as Switzerland agreed to disclose the names of 4,450 UBS clients suspected of tax evasion, U.S. citizens holding accounts with UBS found themselves racing against the clock to voluntarily disclose their secret account holdings to the IRS. The IRS and tax firms are finding their phone lines busy with frantic taxpayers fearing IRS prosecution.
The panic comes with the announcement that account details could be disclosed to the IRS as early as this week. IRS Commissioner Douglas Shulman stated once the Swiss authorities transmit the information, “We will immediately follow up on the information we receive from the Swiss and we will vigorously enforce the laws against those who have attempted to evade their tax responsibilities by hiding their assets offshore.”
The IRS are not joking about going after tax cheats. Last year, they offered a temporary reduction of penalties in exchange for voluntary disclosures. The taxpayers that did not take up this offer are now scrambling to seek advice on how to avoid sanctions, such as criminal prosecution, seizure of their Swiss accounts, further penalties and prison sentences.
Swiss authorities have already disclosed the names of 400 UBS clients who took up the IRS’s voluntary disclosure program.
Where You Stand
16 UBS clients have already been charged with tax crimes. About 150 other Americans are under criminal investigation as reported by the Justice Department, last year. Clearly the IRS is set on pursuing American taxpayers that have so far cheated the system by failing to disclose these foreign accounts. The time to avoid disclosure has run out, as this week’s decision has shown. However, there is still the opportunity to avoid prison if you ACT NOW.
This is a complicated matter and you need expert tax help from professionals with specific expertise and experience with offshore tax evasion defense. Seeking tax attorney representation will ensure all communications with the IRS is done on your behalf by a Certified Tax Resolution Specialist, who will fight on your behalf and make all required disclosures, file FBAR reports and mitigate your risk of prison sentencing.
What you can do:
We have a special division for FBAR reporting and compliance, led by the nation’s top offshore tax evasion defense expert Brian Compton, who is ready to help you with your IRS tax problems.
Contact out special division for overseas tax evasion defense TODAY! If you are in IRS trouble for undisclosed foreign funds, call our office at 1-866-IRS-PROBLEMS for a free, no-risk tax resolution consultation or visit www.taxresolution.com.
Tags: Back Taxes, certified tax resolution specialist, delinquent taxes, FBAR, Fbar reporting, Free Tax Consultation, IRS debt, IRS help, irs problems, offshore tax evasion, offshore tax evasion defense, offshore tax settlement, tax attorney, tax attorney UBS, tax evasion, tax expert, tax help, tax resolution, tax settlement, ubs irs help
Posted in Back Taxes, Expert Help From Tax Attorney, Offshore Tax Settlements, Penalty Abatement, Seeking Professional Tax Help, Tax news and tips, Unfiled Returns - Delinquent Tax Returns, tax help | No Comments »
Thursday, June 17th, 2010
The Swiss Parliament just ratified an agreement to surrender the names of 4,450 bank clients over to the IRS, as reported today in Americans May Have ‘Mere Hours’ to Disclose UBS Accounts to IRS. And the IRS has pledged to move swiftly to vigorously pursue UBS account holders who have attempted to evade their tax responsibilities. If you think your offshore bank account may be a potential IRS target, it’s important to act now to reduce severe penalties and criminal implications. Once the Swiss government releases your name to the IRS, you will have a tougher case to fight and will most likely pay more severe IRS penalties and interest.
FBAR tax penalties can amount to as much as 200-300% of the asset value of the offshore account. Currently, taxpayers are required to report all income from domestic and foreign sources – and failing to do so whether intentionally or unintentionally could be financially crippling. The best thing you can do is immediately get help from professionals with specific experience and expertise with offshore tax evasion defense to take over all communications with the IRS, make the required disclosures, file FBAR reports and mitigate your risk of spending 5 to 10 years in prison for FBAR violations.
At Tax Resolution Services, Co., we have a special division for FBAR reporting and compliance, led by nation’s top offshore tax evasion defense expert Brian Compton. We’re ready to help you with your IRS tax problems. You can also learn more at our Offshore Account Tax Settlements and find out more about the benefits of getting professional tax help from an expert tax attorney, CPA, or Certified Tax Resolution Specialist.
Contact out special division for overseas tax evasion defense TODAY! If you are in IRS trouble for undisclosed foreign funds, call our office at 1-866-IRS-PROBLEMS for a free, no-risk tax resolution consultation or visit www.taxresolution.com.
Tags: brian compton, FBAR penalties, Fbar reporting, offshore account tax settlements, offshore tax evasion, offshore tax evasion defense, tax resolution, UBS Account Holders, ubs accounts
Posted in Offshore Tax Settlements, Tax news and tips | No Comments »
Tuesday, June 15th, 2010
If you find yourself in need of tax relief, seek help from a professional tax service! Tax professionals, like our tax team at Tax Resolution Services, are equipped to handle your tax and IRS problems because we are tax experts in the tax arena! We have settled thousands of tax cases and we put our clients through an in-depth interview process to figure out what IRS tax settlements they would qualify for. Our ethical and honest approach allows us to serve clients that are a legitimate candidate for tax relief. Many people seek tax relief on their own, including going to illegal extremes to evade taxes. Whether you are a clergy member, or politician, seeking tax relief illegitimately is not the answer unless you want to end up in court with the rest of the tax cheats!
Leonard Kaiser — formerly mayor of North Arlington, N.J., executive director of the Bergen County Utilities Authority, and a commissioner of the N.J. Meadowlands Commission — was sentenced along with his wife for attempted tax evasion.
Leonard and Barbara Kaiser each received a year of probation.
Leonard Kaiser, 61, and Barbara Kaiser, 60, both pleaded guilty to an information charging them with attempting to evade income tax due on more than $28,000 in unreported income that they took from the campaign account of Leonard
Kaiser.
At their plea hearing, the Kaisers admitted that while they knew that New Jersey election laws prohibited the personal use of campaign funds, they nevertheless caused a number of checks to be issued from the election fund to Barbara Kaiser personally after Leonard Kaiser lost the 2002 election. Though many of the checks indicated on their face that they were for “salary,” the payments were not disclosed on campaign finance forms filed.
The Kaisers admitted that from 2002 to about 2004, they received just under $30,000 in income from the election fund that they deliberately did not report as income on their federal tax returns in order to avoid paying taxes.
Our tax attorneys and Certified Tax Resolution Specialists at Tax Resolution Services can help you find tax relief today. Call 1-866-IRS-PROBLEMS (1-866-477-7762) for a free tax consultation. Our tax relief success rate of 90% makes us second to none in the tax industry. Let us add you to our list of satisfied tax relief testimonials!
Tags: certified tax resolution specialist, evade taxes, Free Tax Consultation, irs problems, professional tax services, seeking tax relief, tax attorney, tax evasion, tax experts, tax problems, tax relief, tax relief success rate, tax relief testimonials, tax resolution services
Posted in Tax Problem FAQs | No Comments »
Friday, June 11th, 2010
No one can be “saved” from the IRS! Tax fraud is serious business and often begins with a simple IRS tax audit. You may not know this but over 50% of the tax offender referrals that the Criminal Investigation Division (CID) gets is from the IRS Revenue Agent that audits individual tax payers like you! If you are being audited, hire a tax professional to represent you! Tax Resolution Services team of tax attorneys and Certified Tax Resolution Specialists can help you through an IRS office audit, through a correspondence audit or through a home IRS audit. Don’t take any chances! However, if you knowingly evaded taxes, like this clergy couple below, you can count on being “born again” from your prison cell!
The husband-wife/bishop-pastor team at Greater Salem Church in Charlotte, N.C., is guilty of tax evasion.
A federal jury in Charlotte convicted Anthony L. Jinwright, 53, and his wife, Harriett P. Jinwright, 50, following a four-week trial. The guilty verdict concluded an investigation of evasion of federal tax obligations by the couple for their failure to report more than $2.3 million in taxable income from 2002 to 2007.
The 19-count federal indictment charged conspiracy to defraud the government, six separate counts of tax evasion, six counts of filing a false tax return and five separate counts of mail fraud.
“Notwithstanding any claims to the contrary, this case was not investigated or prosecuted because of the Jinwrights’ positions as members of the clergy,” said U.S. Attorney Anne M. Tompkins in a statement. “Bishop and Pastor Jinwright chose to use their positions within their church to collect enormous amounts of compensation, but ignore the tax responsibilities that all U.S. citizens must bear.”
According to evidence presented at trial, Bishop and Pastor Jinwright collected $6 million in income, but failed to report $2.3 million that constituted income for federal tax purposes, and failed to pay nearly $700,000 in income taxes owed.
If you are being audited by the IRS, get a tax professional on your side. Tax Resolution Services offers a free tax consultation to help you resolve your tax problems. Call today – 1-866-IRS-PROBLEMS (1-866-477-7762).
Tags: CID, conspiracy to defraud the government, criminal investigation division, failure to report taxable income, filing a false tax return, IRS home audit, IRS office audit, irs problems, IRS tax audit, mail fraud, resolve tax problems, tax attorney, tax evasion, tax fraud, tax professional, tax resolution services
Posted in IRS Tax Cases, IRS Times and Inquirer, IRS tax audit, Tax Scams | No Comments »
