Archive for the ‘Payroll Tax Problems’ Category

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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Federal Tax Crime by Louisiana Man

Monday, July 29th, 2013

A Louisiana financial officer received a five-year prison sentence for failing to pay corporate payroll taxes.
According to court records, Larry Wayne Bruce, 61, of Leesville, Louisiana, admitted to being responsible for not paying payroll taxes owed while working as the financial officer for Express Marketing Inc. in Leesville from 2003 to 2007.  Bruce admitted that the owners relied on him to pay the payroll taxes withheld from employee paychecks and
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IRS Tax Tips for Small Business Recordkeeping

Monday, June 10th, 2013

As a business owner, you are responsible for everything including recordkeeping – a task that small businesses sometimes don’t do very well. The IRS has released a very helpful recordkeeping FAQ webpage for small business and the self-employees that emphasizes the benefits of and reasons for good recordkeeping. Here are six practical FAQ’s the webpage highlights:
· Why should I keep records?
· What type of records should I keep?
· How long
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Tax Relief for Business Audits and Payroll Tax Issues

Thursday, March 21st, 2013

As Tax Day April 15th draws near, I will be reaching into archive blog posts to gather useful and informative posts that can help taxpayers avoid IRS issues and find tax relief. Today’s topic: small business tax audits.
In a previous post and TaxMan episode for the Big Biz Show, I discussed how small business owners often make themselves targets for harmful tax audits citing a tragic story of business owners
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Weekly Tax Resolution News Round-Up

Friday, March 1st, 2013

It’s Friday, and that means it’s time for a round-up of tax news we reported on this week. Here are some tax related stories that were particularly interesting:
Tax Help Tips
Eleven Tax Changes to Know before Filing
Now that tax season is here, I wanted to let people know that the recent changes to the tax code could affect their wallet! A Forbes article provided the eleven important changes that
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Weekly Tax Relief News Round Up

Friday, September 21st, 2012

Happy Friday! It’s time for a review of this week’s mixed bag of tax relief topics:
Currently Not-Collectable Status – Status 53
A new video from the Tax Man series explains how Currently Not-Collectable Status works for taxpayers having trouble with tax debt repayment because their current expenses are higher than their income. Currently Not-Collectable Status gives these folks time (sometimes up to two years) whereby they are not obligated to
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Currently Not-Collectable Status – Status 53

Thursday, September 20th, 2012

The purpose of the Tax Man series is to explain IRS practices and tax relief solutions that are implemented to help taxpayers get out from underneath tax debt issues. One solution is the “Currently Not-Collectable” or Status 53 as defined by the IRS.
In a recent Tax Man video, Tax Team member, Parham explains that the “Currently Not-Collectable” Status often works for taxpayers whose expenses are higher than their income and
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Payroll Tax Issues-North Carolina Business Case

Friday, September 7th, 2012

Payroll tax issues are some of the most complicated and serious IRS tax issues business owners face. Payroll taxes are considered a trust tax meaning employers hold them in trust until they are collected from employees and sent to the IRS. Therefore, non-payment of the trust tax is considered a federal crime resulting in some of the toughest IRS penalties including prison; a fact that one North Carolina is now
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Tax Relief News Weekly Round-Up

Friday, August 24th, 2012

Let’s recap recent IRS tax relief stories that made news headlines:
The IRS Offer in Compromise Program can help taxpayers get their financial footing back
Our post this week highlighted the fact that many Americans are struggling to pay their bills much less their tax debt. However, no matter bleak the tax situation, taxpayers need to know they have options beginning with consulting a qualified tax professional. Our tax expert analyzes previous
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IRS Tax Help for Business Startups

Monday, August 13th, 2012

Starting a business can be an exciting and overwhelming endeavor. If you are ready to take the plunge and start out on your own, make sure you factor tax strategy into the planning phase. The last thing you need as you run your business is backwards work with tax troubles.
Some of the best tax help is right at your fingertips via the IRS website, irs.gov. Through its Publication 583, titled
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Tax Relief Weekly News Round Up

Friday, August 10th, 2012

Happy Friday. It’s time round up a busy week of tax news. Let’s get started.
Tax Fraud continues to be the number one tax issue facing the IRS. This week, however the Agency found itself in the hot seat after a government report revealed that the IRS allowed millions in fraudulent returns to be processed without detection. On Wednesday, the Treasury Inspector General released a report critical of the IRS sighting
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Payroll Taxes and Bankruptcy Tips

Tuesday, June 5th, 2012

In this latest episode of the Tax Man series, Tax Team member Anna answers a client question about payroll taxes and bankruptcy. Sadly, many small businesses are facing the dilemma of whether they should keep their doors open or shut them for good. Today’s post (below video) is meant to help prevent IRS problems with information on payroll tax liabilities, bankruptcy and five tips that can help business owners stay
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Tax Relief Weekly News Round-Up

Friday, May 11th, 2012

This week’s tax relief news has been quite exciting especially for Tax Resolution Services.
Here are some of the highlights:
Tax Resolution Services-2012 Stevie Award Finalists for Business
I am extremely proud to announce that both Brian Compton and I have been selected as 2012 finalists for the 10th Annual Stevie Awards. Brian was selected for Executive of the Year for Accounting, Banking, & Financial Services and I am a finalist for Maverick
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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 Relief Weekly News Round-Up

Friday, April 27th, 2012

Happy Friday! The common theme in last week’s news was aimed at giving tax relief advice to those who did not make the tax filing deadline of April 17.
Here are some of the highlights:

The IRS just released a video entitled Employee or Independent Contractor? aimed at getting employers to properly classify their workers as either an employee or independent contractor. Improper classification can result in steep IRS penalties but many
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