Archive for the ‘Tax news and tips’ Category
Wednesday, November 18th, 2009
The latest IRS step-up in tax collection crackdown has some 14,700 wealthy Americans shaking in their chairs. The IRS reports that it has been seeing an “unprecedented” number of Americans who have come forward before the October 15th amnesty deadline. Offshore account holders who voluntarily disclose their unpaid back taxes on foreign funds by this deadline are able to receive reduced IRS penalties.
For those who did not make the deadline
Tags: Back Taxes, Douglas Shulman, FBAR, IRS offshore tax settlement, October 15th, offshore account amnesty, offshore tax settlement, Reuters, tax help, UBS
Posted in Back Taxes, Offshore Tax Settlements, Seeking Professional Tax Help, Tax news and tips, tax help | Comments Off
Wednesday, November 18th, 2009
Ever since the latest IRS crackdown on American offshore bank account holders, Swiss banks such as Julius Baer Group has reported losses in financial assets due to scared Americans who are withdrawing their money. This latest news shows that the IRS has successfully struck fear among Americans who up until recently, have been able to evade taxes with offshore bank accounts.
According to the NYTimes, “shares in Julius Baer fell 2.78
Tags: Back Taxes, IRS offshore tax settlement, IRS penalties, Julius Baer Group, Penalty Abatement, tax attorney, tax evasion, tax help, UBS settlement
Posted in Back Taxes, Offshore Tax Settlements, Penalty Abatement, Seeking Professional Tax Help, Tax news and tips | No Comments »
Wednesday, November 11th, 2009
Could use some extra cash? Don’t miss out on your refund check! The IRS is currently seeking to update the mailing addresses of some 107,831 taxpayers who are entitled to an average refund of $1,148.
Don’t lose the money that you are entitled to! Make sure that your mailing address has been updated to your current one! Even if you are a late tax filer, you can still get the tax
Tags: IRS help, IRS refund check, tax attorney, tax help, tax resolution services, undeliverable refunds, why haven't I received my refund check?
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Tuesday, November 10th, 2009
For people who are planning to purchase a home for the first time in the near future, you can still qualify to receive the First-Time Homebuyer Credit if you finalize your purchase by May 1st, 2010. The initial FTHBC was due to expire after November 30, 2009 but has now been extended for another six months.
First-time homebuyers should take advantage of the monetary benefits of this credit by meeting the
Tags: first time homebuyer credit, first-time homebuyer credit extension, first-time homebuyer tax credit, tax breaks
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Friday, November 6th, 2009
What investors need do as the year draws to a close is take advantage of opportunities to improve their tax situation by getting the tax help they need to make strategic decisions for managing their investment portfolios.
However, with the current recession and federal tax revenues declining, investors should be aware that the IRS is going to take every step it can to collect what’s due. So the most important tax
Tags: deducting capital losses, deducting investment losses, IRS audits, irs problems, tax attorneys, tax help, tax tips for investors, year-end tax tips
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Thursday, November 5th, 2009
On Tuesday Madoff’s long-time accountant, David G. Friehling, pleaded guilty in the criminal investigation of the 20-year “Ponzi Scheme” that lost investors a total of $21.1 billion in cash.
According to the New York Times, “Mr. Friehling also pleaded guilty to three counts of obstructing the administration of the federal tax laws - charges added within the last five days to the government’s original complaint.”
This recent development shines light that may
Tags: David G. Friehling pleads guilty, IRS debt, Madoff scandal, Michael Rozbruch, ponzi scheme, recoup investment losses, tax attorney, tax expert, tax help, tax relief
Posted in Seeking Professional Tax Help, Tax news and tips | No Comments »
Tuesday, November 3rd, 2009
In my years of experience as a tax resolution specialist, I have met many people who hold the misconception that the IRS primarily targets a specific group of people with back taxes–either the wealthy celebrity tax cheats or the Joe Six-Packs. This is simply not true.
Turn to the news and you will find a wide range of people who have been getting in trouble with the IRS. Just watch Entertainment
Tags: Back Taxes, celebrity tax evasion, Michael Rozbruch, tax attorney, tax expert, tax help
Posted in Back Taxes, Expert Help From Tax Attorney, Tax Liens and Levies, Tax news and tips | No Comments »
Wednesday, October 28th, 2009
I recently blogged about the Worst Cases of Celebrity Tax Evasion- and the tax resolution lessons we can learn from these high-profile cases to make sure you don’t land in IRS trouble!
I came across another article on FoxNews.com about the Tax Problems of the Stars - which feature both recent headlines and some blasts from the past. Here are some highlights:
Nicholas Cage recently made headlines for his huge tax liabilities
Tags: Back Taxes, celebrity tax evasion, IRS debt, IRS tax problems, Nicholas Cage, tax problems of the stars
Posted in Back Taxes, Tax news and tips | No Comments »
Friday, October 23rd, 2009
The IRS is set to audit many more returns in 2009 and 2010 due to abuses by taxpayers of the first time home buyer tax credit. The first-time homebuyer tax credit is a tax break of up to $8,000 for qualified home sales before December 1, 2009.
Not everyone qualifies for this credit and I’ve also blogged about common misconceptions about the first time homebuyer tax credit. Knowing the rules and
Tags: filing accurate tax returns, first time homebuyer credit, IRS tax audits, IRS tax breaks
Posted in Tax news and tips | 2 Comments »
Thursday, October 22nd, 2009
More than 7,500 Americans rushed to take advantage of a the opportunity for tax amnesty offered through a special voluntary disclosure program for offshore accounts that ended last Thursday. But what can you do if you didn’t come forward to the IRS last week and still need to declare your offshore account?
If a U.S. taxpayer or U.S. resident was not able to file the voluntary disclosure memorandum by the October
Tags: Foreign Bank Account Reporting (FBAR), offshore accounts, Penalty Abatement, tax amnesty, tax attorney, tax help, Voluntary Disclosure
Posted in Offshore Tax Settlements, Penalty Abatement, Tax news and tips | 2 Comments »
Friday, October 16th, 2009
I am so excited about a new TV campaign we’re running! It’s designed to help more people in need of tax help know that they’re not alone. If you haven’t seen the TRS Files, check out the video below. We feature real life tax relief clients who are being targeted by the IRS - like Patrick G. who had owed the IRS $94,000 and had an IRS lien on
Tags: Back Taxes, irs relief, tax attorneys, tax help, tax relief, tax resolution services, tax resolution speicalists, TRS, TRS Files, true tax resolution stories, unfiled tax returns
Posted in Back Taxes, TRS Files, Tax news and tips | No Comments »
Tuesday, October 13th, 2009
This Thursday’s deadline for Amnesty has many wealthy Americans with foreign bank accounts nervous and scrambling to get tax help from their tax attorneys. Don’t miss your chance of significantly reducing your likelihood of facing criminal prosecution–if you have foreign bank accounts (either with UBS or some other foreign bank) with funds that you have not paid taxes on, get tax help now before it’s too late.
The issue started this
Tags: Amnesty deadline October 15th, Back Taxes, FBAR, foreign bank accounts, IRS payment plan, IRS penalties, Penalty Abatement, reducing IRS penalties, tax attorney, tax relief, tax resolution, UBS
Posted in Back Taxes, Expert Help From Tax Attorney, IRS help, Penalty Abatement, Seeking Professional Tax Help, Tax news and tips, Voluntary Disclosure | No Comments »
Tuesday, October 13th, 2009
To help taxpayers like you and me survive through this economic recession, the government is making efforts to put more money in the people’s pockets–especially those who make a low income, Social Security and Railroad Retirement beneficiaries, and recipients of certain veteran’s payments.
You can find out if you qualify to receive the economic stimulus rebate by checking out the Q & A on the IRS website.
The pre-requisite for anyone wishing
Tags: Back Taxes, economic stimulus rebate, failure to file, IRS help, IRS tax debt, October 15th tax deadline, tax attorney, tax help, tax relief
Posted in Back Taxes, Seeking Professional Tax Help, Tax news and tips, tax help | No Comments »
Friday, October 9th, 2009
I just read that Nicholas Cage owes a whopping $6 million in unpaid back taxes. And this isn’t the first time the actor has gotten in tax trouble.
The New York Post Reports:
A notice of a federal tax lien shows that the “National Treasure” actor made a serious dent in the national debt — allegedly stiffing the Internal Revenue Service out of $6.25 million he owed in income tax from 2007,
Tags: Back Taxes, celebrity tax evasion, federal tax lien, irs problems, nicholas cage tax debt, tax trouble
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Wednesday, October 7th, 2009
After his comeback fight with Juan Manuel Marquez, Mayweather Jr. agreed to pay the IRS $5.6 million in back taxes before the IRS took it out of his purse.
According to the LA Times, “the IRS sent the Nevada Athletic Commission a levy notice on Sept. 4 ordering Mayweather’s unpaid taxes from 2007 to be deducted from his $10-million fight purse.” Essentially, the IRS managed Mayweather’s cash flow for him by
Tags: Back Taxes, Floyd Mayweather Jr., IRS debt, IRS tax debt, Michael Rozbruch, tax attorney, tax evasion, tax help
Posted in Back Taxes, Tax news and tips, tax help | No Comments »