Posts Tagged ‘audit’

After Shutdown, Tax Collections Still Are a Priority

Wednesday, November 6th, 2013

For 16 days, the government shut down effectively halted tax enforcement and collections. Now that the IRS is running at full steam again, should you be concerned?
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The government shutdown from October 1 to October 16 closed not only the most critical U.S. government offices; it also furloughed the most essential federal employees. For 16 days, the business of tax collections: analyzing returns, auditing taxpayers, and filing tax liens, effectively
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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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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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Five Tax Help Tips to Keep IRS Audits at Bay

Friday, August 16th, 2013

Tax Defense Partners helps people resolve their tax problems and counsels clients on ways they can stay compliant and prevent future IRS tax issues. An article by Forbes titled “5 Steps to Keep the IRS Out of Your Hair” gives sound advice to taxpayers, reminding them to be proactive about preventing tax issues especially ones that have the potential to trigger an IRS audit.
Here are the top five tips Forbes
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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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Real Housewife Teresa Giudice Indicted on Fraud Charges

Tuesday, July 30th, 2013

Seemingly overnight, Teresa Giudice made a name for herself on the Bravo reality show, Real Housewives of New Jersey. However, it appears her ongoing tax problems may take away the glamor of her celebrity lifestyle and place her behind bars. TMZ reports in an article titled: “Real Housewives’ Stars Facing 50+ Years in Prison for Money Fraud” that Giudice and her husband Joe, have just been slapped with a “laundry
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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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James Gandolfini’s Estate to Pay Tax Man 40 Percent

Monday, July 8th, 2013

In spite of making millions playing tough guy Tony Soprano, it appears actor James Gandolfini was not as “tough” in keeping Uncle Sam’s hands off his estate. A New York Daily News article titled: “James Gandolfini will a tax ‘disaster,’ says top estate lawyer,” reports that giving 80 percent of his $70 million estate to his sisters and daughter as the will states is “disastrous” according to veteran estate tax
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Davidson Estate Battles IRS over Massive $1.9 Billion Tax Debt

Tuesday, June 25th, 2013

If you aren’t convinced the IRS is going after wealthy taxpayers – the story of Bill Davidson’s estate may convince you otherwise. An article in the Detroit Free Press titled: Estate of Bill Davidson Battles IRS over Massive $1.9 Billion Tax Debt reports that attorneys for the estate of the late William Davidson are taking the IRS to court claiming the agency is wrongly trying collect about $2 billion in
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Tax Resolution Success Story-Client Saves $27k

Friday, June 21st, 2013

Facing the IRS alone is like going up against an army. A new video clip on Glenn Beck’s, The Blaze TV tells the story of a viewer who learned first-hand just how tough the IRS can be. Not only did the viewer have several years of unfiled returns, he knew he needed to pay back the $33,000 in back taxes he owed. (*Below the video clip is information on how to
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Tax Resolution Services Success Story – Client Saves $30k

Friday, June 7th, 2013

Sharing client success stories is important because it shows that IRS tax problems can happen to anyone including hard-working honest people, often through no fault of their own.
A new video clip on The Blaze TV highlights a viewer who called Tax Resolution Services, Co. (TRS) after hearing Host Glenn Beck talk about client success stories on his program. This viewer owed more than $33,000 in back taxes but TRS was able
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National Tax Expert Disputes Talk of IRS Audit Decreases

Friday, May 31st, 2013

I wrote this latest press release after reading a CNN Money article titled “Spending cut bright spot: Fewer IRS audits.” I needed to dispute the article’s assertion that there would be fewer questioned tax returns as a result of the sequestering budget by Congress. The CNN article states that over $600 million in cuts to the IRS could result in IRS employee layoffs including examiners who audit tax returns. I agree
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IRS Criminal Investigation Report Shows Increases

Monday, May 13th, 2013

Just last week, the IRS Criminal Investigation (CI) released its Annual Report for 2012 showing strong increases in enforcement actions and IRS penalties imposed on convicted tax criminals for the year ending Sept. 30, 2012. According to the IRS bulletin announcing the report’s release, the criminal investigation division investigates potential criminal violations of the Internal Revenue Code and related financial crimes in a manner to foster confidence in the
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IRS Budget Cuts Hurt Offshore Tax Collection

Thursday, May 2nd, 2013

I recently wrote a post for the Tax Matters blog about a newly released Government Accountability Office (GAO) report showing IRS budget cuts forcing the furlough of 100,000 employees therefore reducing the ability to audit taxpayers at the same rate. A Huffington Post article titled: “Offshore Tax Havens: Sequestration Damages IRS Battle with Tax Evasion“ provides additional GAO report information shining a light on how the sequester/IRS budget cuts will
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IRS Releases 2012 Data Book

Monday, April 1st, 2013

Thanks to Frank Byrt at The Street, we learned that the IRS announced the release of their “2012 Internal Revenue Service Data Book [1],” This annual report provides an overview of agency activities, including information and statistical tables dating from October 1, 2011, to September 30, 2012. The report provides helpful data and information on the following: returns filed, taxes collected, enforcement actions, taxpayer assistance, IRS budget and workforce, and
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