Archive for the ‘income tax relief’ Category

Singer Kelis Pays Down Huge Tax Debt

Wednesday, November 13th, 2013

It’s great to report on celebrities who do a great job paying off their massive tax debt. Case in point: singer-songwriter Kelis Rogers, better known simply as Kelis who is paying down her enormous tax debt to the Internal Revenue Service and to the states of New York and California.

As first reported by TMZ, Kelis owed $741,027.59 in back taxes. She has since cut that debt in half,
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IRS Tax Problems-Agency Delays Start of Filing Season

Friday, October 25th, 2013

The government shutdown earlier this month did more than fray the nerves of citizens. It also delayed the start of the tax filing season. An article by MSN Money titled: “Shutdown causes IRS to delay tax filing season” cites an IRS press release sent out on October 22 announcing an up to two week delay to the start of the 2014 filing season due to the 16-day federal closure. The
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IRS Reminder – October 15th Tax Extension Deadline

Monday, September 30th, 2013

The IRS recently posted both a video and a press release to remind taxpayers that if they filed for an extension, the due date is October 15th, 2013. According to the IRS, many of the more than 11 million taxpayers who requested an automatic six-month extension this year have yet to file. Below the video is information the IRS wants to make sure taxpayers are aware of:

Here are exemptions to
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Willie Nelson and IRS Tax Liens Over Twenty Years Ago

Tuesday, September 24th, 2013

Today, I was reminded that it’s been over twenty years since Willie Nelson lost nearly all his possessions to IRS tax liens. Country music news website, The Boot featured an article titled: “23 Years Ago: IRS Places Liens on Willie Nelson’s Property for Back Taxes” that highlights the entertainer’s challenges with the IRS beginning on Sept. 21, 1990, when IRS placed $16.7 million in tax liens on his property. Here
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Madoff Victims Still Waiting for Investment Fraud Relief

Friday, September 20th, 2013

It appears that some of Bernie Madoff’s Ponzi scheme victims will have to wait a little longer get their money back. CNNMoney’s article titled: “More than $2 billion for Madoff victims is still in limbo” details information provided by Securities & Exchange Commission (SEC) veteran and hedge fund founder Richard Breeden. Breeden was appointed by the U.S. Department of Justice in December of 2012 as “special master” of the distribution
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Tax Relief Tips-More Top Tax Audit Triggers to Avoid

Thursday, September 12th, 2013

A tax audit either by the IRS or state taxing authority is no picnic. The process is intimidating, time-consuming, and can be costly especially if you are assessed additional taxes. It’s important that you know how an audit is triggered so that you can prevent one from happening to you. The latest Tax Audit Defense Top Five Audit Triggers to Avoid infographic highlights five top triggers so you can avoid
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Tax Policy Study Shows More Americans Paying Taxes

Monday, September 9th, 2013

About this time last year one of the biggest tax news stories centered around a 2009 Tax Policy Center (TPC) report that showed 47 percent of citizens were not paying taxes. According to a Don’t Mess with Taxes, Kay Bell in an article titled: “More Americans are paying federal income,” recent analysis by TPC (a joint venture of the Urban Institute and Brookings Institution), and shows that the 47% group
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Offshore Tax Evasion-US and Swiss Make A Deal

Friday, August 30th, 2013

After just reporting two days ago about the Cayman Islands reaching an agreement with U.S. taxing authorities, the U.S. and Swiss have finally reached a compromise deal for how Swiss banks will report account data on their American clients to the IRS. An ABC News article titled “US, Swiss Reach Deal on American Tax Evaders” reported that this agreement between the two countries will no doubt expose those American taxpayers
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Cayman Island Tax Haven No Longer Secret Due to FATCA

Wednesday, August 28th, 2013

First it was banks, now it is the offshore tax havens like the Cayman Islands who will no longer secretly shelter the assets of wealthy Americans. A Tax Connections article titled: “Caymans Makes it Tougher for Wealthy to Hide Money!” states that the Cayman Islands, a major financial center and home to operations for dozens of banks, funds and wealth-management entities, has made an agreement with the U.S. that it
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How Tax Resolution Services Helps People Find Tax Relief

Monday, August 19th, 2013

If you want to know how the tax resolution process can help people get tax relief, I recommend watching this video interview I had this last February by KTLA Channel 5 Alan Mendelson host of “Best Buys with Alan Mendelson“ a television show that features the best deals and money saving ideas.
The video gives consumers a true understanding of the tax resolution process and that reputable firms like Tax Defense Partners
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Tax Help Tips-How to Avoid Tax Relief Scams

Tuesday, August 6th, 2013

For fifteen years, I have been helping people resolve their tax problems. During that time, I have seen my share of tax scams and schemes. Some of the worst ones have been from so called “tax resolution experts” who, with no previous experience in tax problem resolution, prey on struggling and vulnerable taxpayers seeking IRS tax relief. But not all tax resolution firms or experts are created equal.
After reading a
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IRS Relief-Obama Chooses Management Pro to Run Agency

Friday, August 2nd, 2013

President Barack Obama has chosen a crisis management expert to run the IRS – an agency clearly in need of a stabilizing force. According to a Washington Post article titled: “Obama nominates restructuring expert to lead IRS amid political controversy“, Obama selected retired corporate and government official, John Koskinen whose experience managing numerous organizations in crisis makes him an “natural” for taking over an agency facing its own share of
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IRS Tax Tips: Home Office Deduction-Simplified

Monday, July 29th, 2013

The IRS has released its summertime tax tip bulletin “Simplified Option for Home Office Deduction” that will be welcome news for those who work from home. According to the IRS, starting this year, they have made the option to figure the business use of your home much simpler to use and a time-saver because it requires less paperwork and record keeping. Important Note: the IRS clearly states that the simplified option
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Tax Relief Weekly News Round-Up: Top Tax Stories

Friday, July 26th, 2013

Happy Friday!
The cases and stories that caught our attention this week ranged from offshore tax evasion and estate tax issues, to a prison sentence for failing to file tax returns and July’s Tax Client of the Month.

Estate/IRS tax issues:
Proof that the IRS is going after wealthy Americans is evidenced in the stories of large estates receiving massive tax bills from the IRS. The post Tax Problems-Pohlad Estate
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Tax Problems-Pohlad Estate Challenged by IRS

Wednesday, July 24th, 2013

More proof that the IRS is focusing its collection efforts on wealthy taxpayers comes from the Minnesota Star Tribune. The paper reported that the estate of billionaire Carl Pohlad is being challenged by IRS -specifically for the low valuation of the Minnesota Twins baseball team. The article titled: “Pohlads Go One-on-One with the IRS” said the agency claims that Pohlad’s heirs owe the IRS more than $207 million for the
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