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Monday, March 15th, 2010
Taxpayers with foreign funds may have felt the heat back last summer when UBS struck a deal with the US government to release some 4,500 names of American bank account holders to the IRS. That frenzy may seem far back in the past now but this wave of aggressive tax evasion crackdown is nowhere near over.
Recently, Wall Street Journal reported that UBS is increasing its lobbying efforts for the Swiss government to reach a deal with the US on how it will deal with confidential bank data. According to WSJ, “The U.S. Internal Revenue Service has uncovered as many as 20 other Swiss private banks as part of a tax amnesty aimed at declaring funds to the authority” and that “UBS argues that a parliamentary no-vote could also harm the other Swiss banks who offered services to wealthy Americans.”
It could be that UBS is trying to get every bank on the same page in terms of how to handle American bank holders’ information. When it comes to working with the IRS, it seems fair that every bank must abide by the same rules. It could also be the case that Swiss banks are trying to ensure that they comply with an agreement with the US so that they can continue to conduct business with American taxpayers and wealthy bank account holders.
So don’t be surprised if your “small Swiss bank account that slipped under the radar” suddenly gets caught in the IRS spotlight. The aggressive IRS hunt for overseas tax cheats is not limited to UBS account holders only. If you have money abroad and the IRS doesn’t know about it, you are in danger of getting penalized for tax evasion.
The best thing to do is disclose your foreign funds. Don’t try to cheat the IRS or they’ll come after you with all they’ve got. If you owe the IRS more than $15,000 in back taxes, penalties, and interest, it is advisable that you seek tax help from a professional tax attorney, CPA, or Certified Tax Resolution Specialist to negotiate a tax settlement for you. Ideally, you will find a tax resolution firm that has expertise in offshore tax evasion defense. Do your research before hiring a tax professional–it’s your financial welfare on the line!
Tax Resolution Services has a special division for overseas tax evasion defense. This special division is led by one of the nation’s leading tax help experts, Brian Compton. If you are in IRS trouble for undisclosed foreign funds, call our office today at 1-866-IRS-PROBLEMS for a free, no-risk tax resolution consultation or visit www.taxresolution.com.
Tags: Back Taxes, delinquent taxes, FBAR, Free Tax Consultation, IRS debt, IRS help, Michael Rozbruch, overseas tax evasion, tax attorney, tax evasion, tax expert, tax help, tax relief, tax resolution services, tax settlement, Tax Tips, UBS deal, Wall Street Journal
Posted in Back Taxes, Expert Help From Tax Attorney, Filing Unfiled Returns and Replacing Substitute for Ret, IRS help, IRS tax audit, Offshore Tax Settlements, Penalty Abatement, Seeking Professional Tax Help, Tax Relief News, Tax news and tips, Unfiled Returns - Delinquent Tax Returns, Voluntary Disclosure, Working with the IRS, income tax relief, tax help | No Comments »
Thursday, March 4th, 2010
Tax season is officially here and the current economic downturn may encourage struggling taxpayers to cheat on their taxes – resulting in an even larger tax gap than prior years.
There is close to a $400 billion tax gap each year, which means that taxpayers are paying $400 billion less than they should in taxes. Meanwhile, the federal budget deficit for 2009 soared to an all-time high of $1.42 trillion and still growing, surpassing the previous record of $454.8 billion set in 2008. These factors along with the increasingly aggressive IRS going after tax cheats make this tax season the worst one for anyone who wants to illegally skimp on their tax bill.
Taxpayers have to understand that for the government, collecting funds through more aggressive collection tactics by the IRS will be more politically appealing than raising taxes – so beware! Instead of risking the wrath of the IRS, taxpayers must learn about their options for settling their tax debt and avoid becoming the target of aggressive IRS collection efforts. If you are in IRS trouble and you’re not sure what to do next for tax relief, your best bet is to hire tax help from a tax attorney, CPA, or Certified Tax Resolution Specialist. Getting professional tax expertise on your side will truly maximize your chances of winning a tax resolution settlement.
There are a number of unique tax cuts/credits that are available to taxpayers this year due to the economic crisis–it’s a good idea to take advantage of the ones you qualify for in order to cut down on your tax payment.
Thinking about cheating on your taxes? I strongly urge you to think again. Learn more about why tax evasion schemes may cost you more money than your regular tax bill.
Tax Resolution Services is a team of expert tax attorneys, CPAs, and Certified Tax Resolution Specialists. Call our office today at 1-866-IRS-PROBLEMS for a free, no-risk tax resolution consultation or visit www.taxresolution.com for more tax help tips!
Tags: Back Taxes, federal budget deficit, IRS debt, IRS help, Michael Rozbruch, tax attorney, tax evasion, tax evasion schemes, tax expert, tax gap, tax help, tax relief, Tax Tips
Posted in Expert Help From Tax Attorney, IRS help, Seeking Professional Tax Help, Tax Relief News, income tax relief, tax help | No Comments »
Thursday, February 25th, 2010
Robert Kahre, the owner of six construction businesses in Las Vegas who paid employees over $100 million in cash wages as part of an elaborate scheme to defraud the IRS, was sentenced to more than 15 years in prison.
“Citizens who pay their fair share of taxes can rest assured that the Department of Justice will continue to utilize all of its resources to prosecute those who choose to cheat and promote fraud,” said John A. DiCicco, Acting Assistant Attorney General of the Justice Department Tax Division, in a statement.
Following an over three-hour sentencing hearing, visiting U.S. District Judge David A. Ezra, of the District of Hawaii, sentenced Robert Kahre to serve 190 months in federal prison, followed by three years of supervised release and ordered him to pay over $16 million in restitution to the IRS. Judge Ezra also ordered that Kahre, who has been free on a personal recognizance bond since he was arrested in 2005, be immediately taken into the custody of the U.S. Marshals Service.
“This kind of conduct is simply not acceptable in the United States,” said U.S. Attorney Daniel Bogden. “Individuals who ignore the federal tax laws by engaging in schemes to defraud in order to enrich themselves at the expense of others will be prosecuted.”
Taxpayers need to be aware of the fact that the IRS is seriously cracking down on tax evaders. There is no longer such a thing as a “fish too small” for the IRS to pay attention to. If you owe the IRS back taxes, you need to get professional tax help now to resolve your IRS debt before your penalties accumulate even more.
Tax Resolution Services is a team of expert tax attorneys, CPAs, and Certified Tax Resolution Specialists who are here to help you with your IRS tax problems. Call our office at 1-866-IRS-PROBLEMS today or visit www.taxresolution.com for a free tax resolution consultation.
Tags: Back Taxes, delinquent taxes, FALSE TAX RETURNS, IRS audit, IRS debt, IRS help, irs problems, las vegas man charged with tax evasion, Michael Rozbruch, tax attorney, tax evasion, tax help, tax relief, tax resolution services, tax settlement, Tax Tips
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Tuesday, February 23rd, 2010
The economy is still tough on most taxpayers as the April 15th tax filing deadline approaches. While the IRS is strapping in all they’ve got to collect as much tax revenue as they can, a recent report by CNNMoney.com reveals that some 13% of all Americans find it acceptable to cheat on their taxes in order to save money.
Since the government has been trying to help struggling taxpayers with various tax credits, some taxpayers are taking more than full advantage of these opportunities by claiming more money than they actually deserve.
While some of these tax refund claims exceed their appropriate amount by deliberate calculations, most taxpayers are overwhelmed by the ever-increasingly complex tax code and tax laws that they just put down a number that “seems right.” Whether the tax evasion is deliberate or not, both of these cases of tax cheating can get you into deep IRS trouble.
The good news is out of everyone polled by CNNMoney, about 80% said that it is never acceptable to cheat on taxes. This goes hand-in-hand with the 77% of taxpayers who reported that the reason they don’t cheat on their taxes is due to the fear of being audited by the IRS.
No matter how you feel about tax evasion, you need to know the truth of the current situation. The IRS is serious about collecting every cent you owe them. They will scrutinize your taxes, audit you, and penalize you if necessary in order to get you to pay any back taxes you owe.
So if you’re in IRS trouble, don’t wait till later to resolve it. The longer you wait, the worse your penalties and back taxes will get. Get tax help from a professional tax attorney, CPA, or Certified Tax Resolution Specialist to resolve your IRS tax debt.
Read more about the American tax evasion trend and how you can avoid IRS problems.
You can call our Tax Resolution Services office at 1-866-IRS-PROBLEMS or visit www.taxresolution.comtax resolution consultation. Put your tax problems behind you for good today, call now! for a free
Tags: Back Taxes, CNN Money, IRS audits, IRS debt, IRS help, irs problems, Michael Rozbruch, tax advice, tax attorney, tax cheat, tax evasion, tax expert, tax fraud, tax help, tax relief, tax resolution, tax resolution expert, tax resolution services
Posted in Back Taxes, Expert Help From Tax Attorney, IRS help, IRS tax audit, Seeking Professional Tax Help, Tax Relief News, Tax news and tips, tax help | No Comments »
Monday, February 15th, 2010
I’m proud to share that taxpayers across the nation have saved in excess of $52 million dollars in back taxes and IRS penalties since 1998 with the help of our team of expert tax attorneys, CPAs, and Certified Tax Resolution Specialists.
These tough economic times are resulting in more Americans than ever seeking tax relief and IRS help for tax bills they can’t afford to pay. Additionally, the IRS increasing enforcement and taking aggressive action when pursuing tax cheats and businesses avoiding their obligations.
Faced with overwhelming tax debt, many Americans have been hoping to qualify for Offer in Compromise tax settlements or IRS payment plans. Because the IRS has very strict guidelines governing eligibility, we let our clients know up front whether these are viable settlement options for resolving their specific IRS problems.
We put our clients through a rigorous in-depth interview process to find out if they qualify for an IRS tax settlement – and will not allow a client to retain our services unless the taxpayer is a legitimate candidate for tax relief. This ethical and honest approach to tax resolution has helped our team achieve a 99.7% client satisfaction rate in over 9,000 tax relief cases and an IRS tax settlement rate of $0.11 on the dollar.
“I was facing $106,000 in liability and TRS was able to settle it for $9,200,” said Stuart B., a taxpayer from Los Angles, CA. “Emotionally, it was like a weight was lifted off my chest. And TRS handled it all, from phone calls, to letters, to correspondence, everything. You couldn’t ask for a more professional organization that treats you better than they do.”
You can learn more true IRS tax resolution stories at The TRS Files.
Tax Resolution Services is an expert team of tax attorneys, CPAs, and Certified Tax Resolution Specialists has a success rate of 90% – second to none in the industry – and an Offer in Compromise Settlement Rate of $0.11 on the dollar. For more information or to receive a FREE tax relief consultation, visit www.TaxResolution.com or call 866-IRS-PROBLEMS
Tags: Back Taxes, delinquent taxes, IRS debt, IRS Payment Plans, IRS penalties, Michael Rozbruch, Offer in Compromise, tax attorney, tax expert, tax help, tax problems, tax resolution expert, tax settlement, Tax Tips, unfiled tax returns
Posted in Back Taxes, Expert Help From Tax Attorney, IRS help, Offers in Compromise, Penalty Abatement, Seeking Professional Tax Help, Tax news and tips, Unfiled Returns - Delinquent Tax Returns, income tax relief, tax help | No Comments »
Tuesday, February 2nd, 2010
Congress is sending another $12.2 billion to the IRS this year. Most of the money will be used for enforcement. It’s time to watch out.
The United States Congress is finally putting to use the old cliché: its money where its mouth is.
That is to say, while Congress has always had a loud bark regarding tax cheats, its members haven’t always been eager to spend money on the bite.
That changed in the fiscal-year 2010 omnibus spending bill. During appropriation, Congress allocated $12.2 billion to the IRS. The majority of that money is intended to go toward enforcement. This year, the IRS’s enforcement budget will be a record $5.5 billion.
Concerned? You should be.
Among the main reasons why can be found in the previous fiscal year. Even before this $12.2 billion budget infusion, the IRS was firing on all enforcement cylinders.
Collections in fiscal year 2009 were $48.9 billion – the third-most collected all decade. What’s more, the IRS had 21,059 revenue officers and special agents on the streets in 2009 – 339 more than were employed in 2008.
But that’s not the worst of it. Fiscal year 2009 saw 1.425 million examinations of individual tax returns – the most seen all decade. The IRS also filed more than 3 million bank levies and nearly 1 million tax liens – also the most seen all decade.
It doesn’t take Sherlock Holmes to read the writing on the tax wall: If fiscal year 2009 was among the most productive enforcement years for the IRS, fiscal year 2010 – with the extra $12.2 billion from Congress – should be nothing short of extraordinary.
This new enforcement will likely affect all economic strata in the United States, from the nation’s wealthiest to Average Joes.
Already, IRS Commissioner Doug Shulman has announced the creation of a specialized unit to focus on wealthy Americans with complex business organization and international operations whose legal mechanisms may “mask aggressive tax strategies.”
This new unit, no doubt, is intended to piggyback on the IRS’s success in piercing the Swiss banking veil and exposing for the first time U.S. taxpayers who were hiding assets and money in Switzerland to avoid tax obligations.
Despite this new unit, an examination of federal cases show the IRS and the Department of Justice are still more than willing to go after middle-income taxpayers.
Recent cases range from the owner of a New Jersey mortgage business who allegedly did not declare $836,500 in income to an Ohio radio host who allegedly did not file taxes and who earned only $17,945 in 2006.
If you’re still skeptical the IRS will go after you, it’s also important to remember that the U.S. government is facing a continued recession and rising deficits. While the federal government may be loath to raise taxes, Uncle Sam is showing himself to be eager to get what he’s already owed.
Now is probably one of the most dangerous times to be cheating on your taxes. The IRS has shown some leniency on those who come forward. Maybe it’s time to come clean on your taxes once and for all. If you are in IRS trouble and need tax help, you can consult a professional tax attorney or Certified Tax Resolution Specialist to help you get an affordable tax settlement.
You can also learn more tax help tips by reading our previous TRS Newspaper Articles.
Tax Resolution Services is a team of tax attorneys, Certified Tax Resolution Specialists and CPAs that are here to offer you tax help. Take advantage of the expertise of our firm by calling 1-866-477-7762 today for a free tax resolution consultation or visit www.taxresolution.com
Tags: Back Taxes, Congress help IRS, delinquent tax returns, delinquent taxes, Free Tax Consultation, IRS debt, IRS enforcement, IRS help, irs problems, IRS tax problems, Michael Rozbruch, tax advice, tax attorney, tax audits, tax cheat, tax evasion, tax expert, tax fraud, tax help, tax relief, tax resolution, Tax Resolution News, tax settlement
Posted in Back Taxes, Expert Help From Tax Attorney, IRS Overview, IRS help, Seeking Professional Tax Help, Tax Debt Help News, Tax Relief News, Tax news and tips, Unfiled Returns - Delinquent Tax Returns, Working with the IRS, income tax relief, tax help | 1 Comment »
Thursday, January 14th, 2010
Recently I was featured in CPA Magazine along with an elite selection of other top CPAs and tax experts to offer tax help and advice to taxpayers like you to prepare for the upcoming 2010 tax return filings. In light of the fast-approaching 2010 tax season, I want to draw your attention to a few things that you need to know about new IRS regulations for tax preparers.
If you didn’t know already, the IRS projects that it will receive more than 139 million individual tax returns in 2010. As Americans get ready to file their 2009 tax returns, the IRS is focusing in on the tax return preparer community in an attempt to curb tax cheats and boost enforcement of its tax collection efforts.
As one of Top 40 Tax Advisors to Know During a Recession, I will tell you this: essentially the IRS is turning tax professionals into ‘auditors’ instead of advocates of our clients. What’s happening now is that the government has decided that its war on tax evasion is a multi-front conflict, ranging from overseas bank accounts to the tax preparer around the corner.
In this particular CPA Magazine feature, “What We Learned From Last Tax Season,” the article reveals important tax lessons from me along with other top tax advisors aimed to help readers work smarter in 2010 when preparing their tax returns.
Basically, the government’s new model for the regulation of tax return preparers includes a “More Likely Than Not” preparer penalty standard designed to make it more difficult for tax advisors to take aggressive positions on behalf of clients who need tax help when they fall in the grey area of IRS law.
Let me elaborate:
Per IRS’s IRC Section 6694, the “More Likely Than Not” preparer penalty standard is making it more difficult to take aggressive positions on behalf of clients who are in the grey area of tax law. The IRS is turning tax professionals into “auditors” instead of advocates of our clients.
If the IRS detects and proves beyond a reasonable doubt that fraudulence was deliberate, both the taxpayer and the tax preparer will now be liable for IRS penalties. However, if you have a very strong case to get the penalties abated or removed, a tax attorney or Certified Tax Resolution Specialist can help prepare amended returns and then represent you in the case of an IRS audit.
Make sure that you handle your tax returns carefully this season. Don’t cheat on your taxes–now with the IRS and tax preparers both on the lookout for fishy tax activities, it’s no time to gamble with your life’s savings. But also make sure that if you do use a tax preparer, that you double-check all your tax returns before approving them; otherwise, you could be liable for a tax filing mistake you did not make.
Tax Resolution Services is a team of expert tax attorneys, CPAs, and Certified Tax Resolution Specialists who are here to help you with your tax problems. Call our office today at 1-866-IRS-PROBLEMS (1-866-477-7762) for a free tax resolution consultation or visit www.taxresolution.com
Tags: Back Taxes, CPA magazine, delinquent taxes, income tax relief, more likely than not, tax attorney, tax expert, tax help, tax preparer penalty, tax resolution, tax season 2010, tax settlement, Tax Tips
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Thursday, January 7th, 2010
As a Certified Tax Resolution Specialist, I’ve seen how rough the last couple of years have been for tax cheats in the United States. But the bad news is the IRS has plans to put even more pressure on tax cheats in 2010.
For middle-class tax cheats, there was the Caribbean scheme. U.S. taxpayers living in the United States would stash their money in a Caribbean bank account, then link that bank account to a credit card they could use to pay for everyday expenses at home. It gave these taxpayers the tax-cheating luxury of having mad money the IRS didn’t know a thing about.
Until, of course, the IRS found out. The government cut deals with the major credit card companies and obtained lists of people whose credit cards were linked to foreign accounts.
Amnesty came first. Then came prosecutions of individuals for tax evasion.
For wealthy tax cheats, Switzerland has long been the scheme. With the right money and contacts, U.S. taxpayers could conceal hundreds of thousands, even millions, in bank accounts protected by a Swiss banking veil that guaranteed total secrecy.
Until, of course, the IRS finally pierced that banking veil after threatening to prosecute Swiss bank UBS. Now the U.S. government is set to obtain the names of taxpayers who have been hiding their many greenbacks.
Now, those with Swiss accounts could face enormous fines and even prison time. As I said, it’s been a rough couple of years for tax cheats in our country.
The bad news for them: The pain ain’t over. Not yet.
On Dec. 10, 2009, at the 22nd Annual George Washington University International Tax Conference, IRS Commissioner Doug Shulman made it clear that what has seemed like a bare-knuckled aggressiveness against tax cheats will only get more, well, bare-knuckled!
“The unprecedented agreement with the Swiss authorities we reached this past August regarding UBS account holders – and the response to the special offshore voluntary disclosure program – together represent an historic milestone,” Shulman told the audience. “They proved to the world – especially to account holders, promoters and banks – that we’re serious about our international efforts. We’re serious about piercing the veil of bank secrecy. And we’re serious about carrying forward the momentum to address offshore tax evasion.
“We will be mining the 14,700 voluntary disclosures,” he continued, “for information to identify financial institutions, advisors, and others who promoted or otherwise facilitated U.S. persons hiding assets and income offshore and attempted to shirk their tax responsibilities at home.”
Shulman promised increased budgets for compliance, the hiring of additional agents and a general sharpening of the IRS’s mighty sword.
Over the previous years, Shulman has proven he isn’t a man of empty promises.
If you’re cheating, maybe it’s time you stop. And maybe it’s time you finally get a tax professional such as a tax attorney or Certified Tax Resolution Specialist to help you.
You can learn more tax help tips by reading our previous TRS Newspaper Articles.
Tax Resolution Services is a team of tax attorneys, Certified Tax Resolution Specialists and CPAs that are here to offer you tax help. Take advantage of the expertise of our firm by calling 1-866-477-7762 today for a free tax resolution consultation or visit www.taxresolution.com
Tags: Back Taxes, delinquent taxes, IRS debt, IRS help, irs problems, Michael Rozbruch, tax attorney, tax cheats, tax evasion, tax expert, tax help, tax resolution services, tax settlement, Tax Tips
Posted in Back Taxes, Expert Help From Tax Attorney, IRS help, Seeking Professional Tax Help, Tax Debt Help News, Tax Relief News, Tax news and tips, Unfiled Returns - Delinquent Tax Returns, tax help | No Comments »
Saturday, December 12th, 2009
An IRS audit is one way the IRS catches tax cheats! Many people are selected for IRS audits, however, it doesn’t mean that everyone is guilty of cheating on their taxes. If the IRS has approached you for a tax audit, and you feel that you are innocent, don’t panic! Instead seek professional tax representation to help you get organized and guide you through the tax audit process. As I mentioned, some people who go through audits are innocent and some are not. This Connecticut man was not, and it was probably an IRS audit that caught him!
Vincent Mavilia, 66, of Warren, Ct., pleaded guilty to tax evasion. According to court records, Mavilia has owned and operated a number of bars and adult entertainment businesses. However, from 1992 to 2003, Mavilia took steps to conceal from the IRS his ownership of the businesses, and the income he received, by placing them in the name of his adult daughter. He faces up to five years in prison and a fine of up to $718,582.
If you are facing an IRS tax audit then you need Tax Resolution Services on your side. Our team of tax attorneys are ready to represent you and help solve your tax problems. Fill out our online form for a free tax consultation. Visit our tax blog for free tax advice!
Tags: cheating on their taxes, concealing income from the IRS, evading taxes, Free Tax Consultation, IRS audit, professional tax representation, solve tax problems, tax attorney, tax audit, tax cheat, tax evasion, tax resolution services
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Thursday, December 3rd, 2009
It may resemble a chapter out of 1984 but the recent surge of whistle blowers to the IRS about tax cheats comes as no surprise since these whistleblowers are getting paid enormous sums of money for “telling on their neighbors” for owing back taxes.
A recent Forbes article revealed that a new federal rewards program dishes out cash to people who turn in friends, relatives and employers for fudging their tax returns.
Take Bradley C. Birkenfeld, a former employee of UBS AG, who came to U.S. officials with documents in hand and laid out how his former employer, UBS AG, helped wealthy Americans hide money offshore. So far the investigation he triggered has produced a $780 million payment in back taxes and penalties to the U.S. government from UBS, Switzerland’s largest bank.
Consequently, Birkenfeld, who is facing 40 months in the federal pen, may now leave prison with millions of dollars in reward money.
The IRS is changing its attitude towards Whistleblowers–ten years ago, anyone who had enough knowledge of a company’s accounting books were not eligible for reaping any reward money for being the whistleblower because they were inevitably involved in crafting the tax evasion activities. Now, these same people who may have faced prison sentences for their crimes may be entitled to received a reduced reward amount (which could still be very substantial, depending on the case and how much back taxes owed).
This whistleblower rewards program has motivated many more people to rat out the “bigger guys.” From 2004-2005, the IRS was mostly dealing with small cases of tax evasion. But according to Forbes, “in fiscal 2009, ended Oct. 30, the IRS Whistleblower Office also logged big case leads on 1,900 taxpayers, up from 1,246 in fiscal 2008, the first full year the new law was in effect. Dozens of these tips involve purported tax losses of $100 million or more.”
In many of these instances, the whistleblower could walk away from it with anywhere between 15% to 30% of the back taxes owed by some of these corporations–amounting to rewards of millions of dollars.
The important thing to learn from this development is that the only way to ensure that no one will hand you on a silver platter to the IRS is if you do not commit any tax fraud. The rewards are high for whistleblowers and who’s to resist the temptation of a large payoff in this economic slump?
Get your accounting number straight. Make sure that your tax numbers are legitimate and correct. If you have someone else do your accounting for you, make sure to verify the accuracy of the numbers you submit to the IRS. Once you sign off on your tax forms, you are technically liable for what you have “approved” on it. Don’t risk being accused of being a tax cheat–hold your accountants accountable.
Also check out this great cartoon we posted last month on the whistleblower program.
Read the full Forbes article on IRS whistleblowers.
Tax Resolution Services is a team of expert tax attorneys, CPAs, and tax resolution specialists who help people with their tax problems every day. We have successfully settled thousands of cases for taxpayers with tax debt both big and small. Call us today at 1-866-477-7762 for a free tax resolution consultation or visit www.taxresolution.com
Tags: Back Taxes, Forbes article whistleblower, IRS debt, IRS whistleblower reward, tax attorney, tax cheats, tax evaders, tax evasion, tax fraud, tax help, tax relief, tax resolution, UBS AG, whistleblower money
Posted in Back Taxes, Offshore Tax Settlements, tax help | No Comments »
Thursday, December 3rd, 2009
One of the worst mistakes a taxpayer can make is to underestimate the power and reach of the IRS.
Recently, we have seen how serious the IRS is about collecting back taxes and penalizing those who have deliberately evaded their tax payments. The truth is, no one is safe from the IRS’s grasp-not even A-list celebrities like the ranks of Wesley Snipes, Pete Rose, Sophia Loren, and many more. These celebrities have faced some severe IRS charges and penalties for evading large sums of tax payments.
While it may be difficult for many taxpayers to directly relate to owing the IRS millions of dollars in back taxes, these celebrity IRS tax evasion stories still teach regular taxpayers a valuable lesson: the IRS will find you if you cheat on your taxes.
It has been a common misconception that the IRS “only goes after the big fish.” This is simply not true. Our team at TRS has compiled an archive of tax resolution stories from regular taxpayers like you who have found themselves caught in IRS problems. Check out Stuart B’s tax resolution story at The TRS Files to learn how everyday taxpayers resolved their IRS debt.
Don’t mistake your chances of getting caught by the IRS. If you think that you may be in IRS trouble, the best thing to do is to be proactive about resolving your tax problems. Many times, the IRS penalties are much more severe if the IRS finds you before you go to them. Get tax help now if you fear that you may be next.
To read more about how you can resolve your IRS tax debt, check out our IRS tax debt relief newsletter.
You can also learn more other tax help tips and advice by checking out our previous IRS tax debt relief newsletters.
Tax Resolution Services is a team of tax attorneys, CPAs, and tax resolution specialists who help taxpayers like you with IRS problems every day. Call us today at 1-866-477-7762 for a free tax resolution consultation or visit www.taxresolution.com
Tags: Back Taxes, celebrity tax evasion, tax attorney, tax evasion, tax help, tax relief, tax resolution, TRS Files, true tax resolution stories
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Wednesday, December 2nd, 2009
Before the UBS deal of 2009 that sent overseas account holders scrambling to submit their voluntary disclosures before October 15th’s amnesty deadline, many people believed a number of IRS myths: that Swiss Bank Accounts are a “tax fortress” impenetrable by the IRS or that the IRS only cared about the “bigger fish.” However, as we have seen in the past couple of months, this is clearly not the case anymore. At this point, taxpayers with undisclosed funds should be looking for expert offshore tax evasion defense.
Authorities in Switzerland have notified the first 500 Swiss bank clients whose names they are set to turn over to the United States government for suspected tax evasion. Those 500 people will have met strict criteria established by Swiss authorities, which include holding over 1 million Swiss francs at any time between 2001 and 2008, the use of false documents or other fraudulent actions, and accounts that earned an average of 100,000 francs a year for the last three years.
Since Switzerland built a reputation of neutrality that extended to its banking system, creating an independent enclave of banks immune from outside pressure, this latest collaboration with the IRS to hunt down tax evaders is groundbreaking news.
Wealthy Americans who have depended on these foreign bank accounts can no longer feel safe from the IRS with their money stashed abroad. It would be naive for anyone to believe that cheating the IRS of back taxes will go unnoticed forever.
What’s really important to note from all of this is that the IRS is serious about collecting all the taxes it can get. Regular taxpayers who don’t have overseas bank accounts can take away a very valuable lesson from all of this: If the IRS can get these guys, you better believe they can get you.
Just ask the tens of thousands of Americans who were using a Caribbean bank account linked to a U.S. credit card to evade taxes. Now that the IRS has their information thanks to a separate deal with the credit card companies, they have every reason to be sorry.
Don’t underestimate the power and the reach of the IRS. If you gamble with your chances of getting caught for tax evasion, it’s like playing Russian Roulette with a loaded gun–your luck is bound to run out at some point.
If you find yourself in IRS trouble due to having funds in a undisclosed foreign bank account, you may be able to reduce your penalties or settle your taxes with an IRS payment plan. Learn how you can get an offshore tax settlement to save your financial future.
To learn more tax tips and tax help advice, check out our previous publications.
If you owe the IRS back taxes, you can take control of your tax problems by getting expert tax help. By being proactive with resolving your tax problems, oftentimes you can reduce your IRS penalties and fines. Tax Resolution Services is a team of tax attorneys, CPAs, and certified tax resolution specialists. We’re here to help you get the tax settlement you deserve. Call us today at 1-866-477-7762 for a free tax resolution consultation or visit www.taxresolution.com
Tags: Back Taxes, IRS payment plan, offshore tax settlement, swiss bank account holders, Swiss bank tax haven, tax attorney, tax cheats, tax evasion, tax help, Voluntary Disclosure
Posted in Back Taxes, Offshore Tax Settlements, Seeking Professional Tax Help, Tax news and tips | No Comments »
Wednesday, November 18th, 2009
This is funny! And happening more often than you think. The IRS Whistleblower office pays money to informants who provide specific and credible information to the IRS about people who owe taxes. The IRS has been increasing tax enforcement since 2008! Tax cheats, beware! If you need to work through you tax problems such as back taxes, consult a tax professional from Tax Resolution Services. We offer a free tax consultation – fill out the online form – or call us at 1-866-IRS-PROBLEMS.
Tags: Back Taxes, back taxes owed, increased IRS tax enforcement, informants to the IRS, IRS whistleblower, owe back taxes, tax cheat, tax evasion, tax problems, tax resolution services
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Monday, November 16th, 2009
Some people are just straight up tax cheats. The Wyoming man in the story below blatantly evaded his taxes doing things such as underreporting income and filing false tax returns. Subsequently he was sentenced to prison time and left with a hefty fine – all of which he deserves. For those who find themselves in tax debt, not because they were purposely cheating on taxes but because of other extraordinary conditions in their lives, tax relief is possible! Hiring a tax professional – like a tax attorney or tax specialist – is the first step to relieving tax debt. There is nothing to fear about seeking tax help – if you are innocent! If you are starting to seek help for your tax debt, Tax Resolution Services tells you exactly what to expect when resolving tax debt.
John T. Minemyer, 49, of Casper, Wy., was sentenced to 12 months in federal prison for tax evasion. Minemyer was also ordered to pay a $25,000 fine and restitution totaling $200,918.22.
Monomer’s tax evasion charge stems from when he was a resident of Colorado Springs, Colo., where he was a 50 percent partner in a company known as Lozon, which sold coupler devices used for underground fiber optic cables. Minemyer filed with the IRS false joint tax returns for the years 2000 and 2001, substantially underreporting his income from the partnership and using a series of offshore financial transactions to hide that income.
As a result, Minemyer failed to report on his 2000 return income of $355,176, which resulted in an underreported tax liability of $140,561. In addition, Minemyer failed to report on his 2001 return income of $174,087, which resulted in an underreported tax liability of $60,357. The total loss for both years is $200,918.
“This case is a good example of those who evade their tax obligations may end up finding themselves in federal prison and owing a lot more money than they would have originally had to pay,” said U.S. Attorney David Gaouette.
Tax Resolution Services is a team of tax attorneys and IRS specialists who have helped people resolve tax debt through negotiation and mediation with the IRS. Retaining Tax Resolution Services is the first step to getting out of tax debt – and it’s easy. Call us at 1-866-IRS-PROBLEMS or fill out the online form for a free tax consultation.
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Thursday, November 12th, 2009
We all know that accepting bribes is not acceptable. Call it what you may, “gifts and gratuities”, but we all know that a person with a governing position, like a mayor, who accepts gifts and gratuities is basically accepting a bribe. When the bribe happens to be cash, or something of great cash value, it is still taxable. But because it is a bribe, the mayor decides to evade taxes instead. Where does this story end? I think you know the answer – many years of prison and a hefty fine. What happens, however, to his spouse? Does she go to jail too? Sometimes yes, sometimes no. Our government, after all, is understanding. The IRS has an Innocent Spouse provision and some spouses may be cleared of their partner’s tax debt if they qualify for tax relief as an innocent spouse. Sometimes an individual makes bad decisions, like this Louisiana mayor below – and it is nice to know that if his spouse is innocent from tax charges, she will not be sharing in his prison time.
The mayor of Mandeville, La., pleaded guilty to honest services mail fraud and tax evasion.
According to court records, Edward “Eddie” J. Price III, as the elected Mayor of Mandeville, was a public official who was prohibited by state law from receiving gifts and gratuities from professional service contractors for the city of Mandeville and developers with business interests with the city. From 2003 to 2007, Price accepted numerous trips from the city’s engineer and a developer in the Mandeville, La., area to participate in expensive golf tournaments in Pebble Beach, Calif. These trips had a value in excess of $45,000. Price’s plea of guilty to honest services mail fraud included admissions that he illegally utilized money from his campaign fund account to pay various personal expenses.
In addition, Price failed to file a tax return for the 2007 tax year, evading taxes on his income as mayor as well as the value of the gifts and gratuities he received and funds he had taken from his campaign account.
The politician faces up to 25 years in prison and a fine of up to $500,000.
“This investigation is another example where the teamwork between the IRS, FBI and the United State Attorney’s Office has brought justice to our community,” said IRS Special Agent in Charge Michael DePalma in a statement.
In the case above, we do not know have information on whether the mayor’s spouse qualified for tax relief as an innocent spouse. If you find yourself suddenly in an unfavorable tax situation because you were / are married to someone who cheated or evaded taxes, and you feel that you are innocent, consult a tax professional to see if you qualify for Innocent Spouse tax relief. A tax attorney or IRS specialist can help you find tax relief today. Tax Resolution Services is the nation’s leading tax negotiation and tax mediation firm and if we can help you find tax relief today. Free tax consultation form online or call 1-866-IRS-PROBLEMS.
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