Archive for the ‘Tax Relief News’ 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 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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U.S. Investigates Swiss Bank Rahn Bodner for Secret Accounts

Tuesday, September 17th, 2013

Another Swiss bank is experiencing the wrath of the U.S. Government’s focus on offshore tax cheats and revenue collection. A Reuters article titled: Another historic Swiss bank under U.S. tax spotlight reports that Swiss private bank Rahn & Bodmer is under investigation by U.S. authorities as part of a lengthy U.S. Swiss dispute over tax evasion.
The article provides a brief history of Rahn & Bodmer:

It is an old line Swiss
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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 Relief News in Review-Celebrity Tax Stories

Friday, September 6th, 2013

Happy Friday!
On this short holiday week, the tax news we featured mainly centered on celebrity tax stories. Here is a recap of what we featured:
Tax Problems-Michael Jackson Estate Gets Assessed by IRS – It appears that the estate of the late Michael Jackson and the IRS are engaged in a dispute over how much the estate of the “King of Pop” is really worth. An NBC News Business article
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Tax Problems-Michael Jackson Estate Gets Assessed by IRS

Tuesday, September 3rd, 2013

There are ways to value the worth of tangible items like real estate or cars for estate tax purposes. However, placing a dollar amount on the image of a celebrity is a more complicated and disparaging process as the estate of the late Michael Jackson is finding out. An NBC News Business article titled: “What’s Michael Jackson’s image worth? A $434 million question for the IRS“ reports on the giant
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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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Tax Defense Partners Ranked Highest in Top Ten Reviews

Monday, August 26th, 2013

It was great to receive the news that Tax Defense Partners (TDP) was ranked the highest of all Tax Debt Relief Service providers on Top Ten Reviews. This first place review sighted the following reasons why TDP is the best option for representing taxpayers before the IRS:

The age of the company
The number of clients it has served
The fact that Tax Defense Partners can help with and negotiate any tax situation

It’s rewarding
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Tax Relief Weekly News Round Up

Friday, August 23rd, 2013

Happy Friday!
This week we featured tax relief stories about the following subjects: how tax resolution can help struggling taxpayers, turning financial failures into success, ways to pay off a large tax debt. We also covered stories about tax evasion, filing false tax liens and tax fraud.
Here’s the tax news recap:
The post How Tax Resolution Services Helps People Find Tax Relief was inspired by a video interview I had in February
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Tax Relief Tips-Turning Financial Failures into Tax Success

Tuesday, August 20th, 2013

Did you know August 15th was National Failures Day? Well, I didn’t either and it was only after reading an informative article from Don’t Mess with Taxes, Kay Bell titled: “Turning financial failures into tax-saving successes” that I thought there should be any reason to celebrate.
In the article, Kay Bell highlights the following financial “failures” that if deducted on your tax return may actually provide some benefit and possibly take
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Americans Living Abroad Renouncing US Citizenship

Tuesday, August 13th, 2013

A Wall Street Journal article titled: “U.S. Expats Balk at Tax Law” reports that the government’s quest to find tax evaders is prompting some Americans living in Asia and around the world to rethink their citizenship. Their biggest complaint: the increasing burden of paperwork required by Foreign Account Tax Compliance Act, or FATCA.
As per FATCA regulations foreign institutions are required to disclose the overseas assets of U.S. citizens and green-card
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Responding to Forbes Article Calling for Tax Resolution Regulation

Monday, August 12th, 2013

It’s no secret that the tax resolution industry has come under fire for egregious actions taken by some tax resolution firms. Their bad business practices have damaged the reputation of the entire tax problem representation industry and set the Federal Trade Commission (FTC), now the Consumer Financial Protection Bureau (CFPB) out to regulate it.  I recently read a Forbes article by Stephen J. Dunn titled: When Will Congress Act Against
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