Archive for the ‘General Business’ Category

Online Sales Tax Issues May Become a Reality

Tuesday, April 23rd, 2013

Last year I wrote an article titled, “The E-Commerce Conundrum: Taxing Virtual Businesses and Their Investors and the Law”, to point out potential IRS tax problems facing e-commerce businesses. I did this because state lawmakers were introducing legislation that forced them to collect and pay state taxes. Fast-forward to today and it looks like online businesses may in fact be mandated to do just that.
A Web Pro News article titled,
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Better Business Bureau Los Angeles Chapter-Expelled

Thursday, March 14th, 2013

As a Los Angeles based business, it was huge news to hear that the Better Business Bureau (BBB) of the Southland was expelled from the Organization for demanding that businesses pay membership fees for good ratings. The Los Angeles Chapter was a corrupt organization. Horrible.
An LA Times article by Adolfo Flores titled:”Better Business Bureau expels Los Angeles area chapter” brings to light years of strife and eventual audits by the
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Tax Resolution Services, Co. Wins American Business Awards

Tuesday, July 3rd, 2012

In addition to solving IRS tax problems, Tax Resolution Services, Co. was honored last month with two American Business awards (aka the Stevie awards) for our work in the tax resolution industry.  I was honored with a bronze Stevie Award for Maverick of the Year and my colleague and Tax Resolution Services’ President, Brian Compton received a silver Stevie as Executive of the Year in Accounting, Banking and Financial Services.
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New Offer in Compromise Policies Bring Tax Relief

Wednesday, May 30th, 2012

The May 21st IRS announcement offering flexibility to the Offer in Compromise Program (OIC) is BIG NEWS as it could provide tax relief to many financially distressed taxpayers like never before. The erecent Forbes articles Are Tax Collectors the New Men in Black? and New IRS Offer in Compromise Policies discuss the IRS changes of two criteria: the financial analysis used to determine who qualifies for an Offer in Compromise
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IRS Payroll Tax Problems Claim Alabama Town

Monday, May 7th, 2012

Small business is no stranger to payroll tax problems, but when a city becomes a victim, it makes headlines. An article from WTOK.com Channel 11 entitled IRS Says York Failed to Make Payroll Tax Payments reported that a representative from the Internal Revenue Service traveled to York, Alabama to meet with city officials to discuss their specific tax issue: unpaid payroll taxes.
It appears that the city administrator, Tim Sweezey and
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Tax Expert Discusses Tax Debt Payment Options

Tuesday, April 17th, 2012

Countdown to tax day: 0 – Today is Tax Day!
If you owe money to the IRS, and are short on cash, you have options. Yesterday, Fox Business cited a creditcards.com article Pros and Cons of Paying Taxes with a Credit Card in which I made a contribution regarding tax debt financing. In a previous blog post about this topic, I compared the costs of using a credit card versus the
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Tax Relief Weekly News Round Up

Friday, April 13th, 2012

In the homestretch – 4 days until Tax Day!
Happy Friday! Here’s the tax help news round up heading into Tax Day Tuesday April, 17.
Tax relief tips were the dominant theme and meant to provide tax help for last minute taxpayers who are filing or possibly avoiding their tax obligation. Here are the highlights of the week’s news:

The IRS Newsroom released a bulletin with payment options designed for struggling taxpayers having trouble
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Talking Tax Resolution with Fox 11 Tony Valdez

Thursday, April 12th, 2012

In the homestretch – less than a week until Tax Day!

During my recent appearance to the Midday Sunday Fox 11 with host Tony Valdez show, Tony and I discussed tax resolution and the burgeoning industry it has become. Highlights from the interview could prove helpful for those who may have back tax issues but be too overwhelmed to get help to resolve their tax burden.

These answers should
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Finding Tax Relief through Art

Friday, April 6th, 2012

Happy Friday everyone! I wanted to provide some end of the week visual tax relief because I’m sure we can all use it! Did you ever wonder what to do with those tax documents and receipts you’ve been saving for all those years?   Make art, of course! (note, we do not recommend recycling files unless they are very, very old and your CPA says you can trash them).
This extraordinary art
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Tax Help Tip-Avoid Common Tax Return Mistakes

Friday, April 6th, 2012

Countdown to tax day: 12 days
On my recent appearance to Midday Sunday Fox 11 with host Tony Valdez, Tony asked me about the typical mistakes taxpayers make when filing their taxes. Here are the four most common:
1. Forgetting to sign the tax return
This is the number one avoidable mistake people make every year. They are rushing to get their taxes done, forget to sign the returns, put them in
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Small Business Tax Relief-Health Care Tax Credit

Wednesday, April 4th, 2012

Countdown to tax day: 13 days
Small businesses look for ways to save money and especially this time of year as they evaluate their tax credits and deductions to make sure they get the tax relief they need. Yet for those employers who provide health insurance for their employees, they may not know they are eligible to claim a healthcare tax credit that could save them money.
A March 2012 IRS bulletin
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IRS Tax Levy-Avoid Them At All Costs

Thursday, March 29th, 2012

As we are in the tax day homestretch, I have noticed a hefty percentage of articles in the financial pages that naturally have to do with taxes.  A series by Forbes’ Kelly Phillips Erb Taxes: A-Z offers insight into tax issues that many might be facing as they are tackling (or avoiding) their yearly tax obligation.
Her article L is for Levy highlighted the IRS levy and those who avoid the
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Tax Fraud Enforcement-IRS Suggests Local Police

Wednesday, March 28th, 2012

The Obama Administration and the Department of Treasury are continuing their aggressive efforts to catch tax evaders.  One strategy they are considering is a collaboration between the IRS and local law enforcement agencies to help catch people committing tax fraud, tax evasion and identity theft crimes.  Canada Free Press journalist Jim Kouri wrote an article entitled IRS may draft cops to catch tax cheats, official tells Senate to report on
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MF Global Farmers Get Tax Relief from IRS

Wednesday, March 28th, 2012

The IRS has announced it will give needed tax relief to farmers who could not properly file their taxes due to not receiving their 1099 by the March 1 deadline from the now defunct MF Global.  A Reuters article entitled IRS Waives Fines for Farmers Missing Tax Info from MF Global reports that farmers who underreported their taxes because of missing information from MF Global will not be penalized.
Run by
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IRS Audits of Wealthy Taxpayers Are Paying Off

Tuesday, March 27th, 2012

In case you haven’t noticed, the IRS is doing quite well collecting taxes from wealthy Americans. An article in the LA Times by Tiffany Hsu titled IRS collected $2.4 trillion in taxes, audited more multimillionaires demonstrates how IRS audits of millionaires has helped to contribute to the first revenue increases the IRS has seen since 2008.
From October 2010 through September 2011, the IRS collected $2.4 trillion in taxes from 234
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