Posts Tagged ‘FALSE TAX RETURNS’

“Girls Gone Wild” Founder Joe Francis Will Pay $250,000 in IRS Tax Penalties For Fraudulent Tax Returns

Wednesday, September 30th, 2009

Lately, the rich and the famous who have been creatively evading taxes have been transformed by the IRS into the financially desolate and infamous.
The recent guilty plea by Joe Francis, founder of the soft-porn empire “Girls Gone Wild” demonstrates how omitting nearly $563,000 in interest tax can turn into 301 days in jail.
LA Times reports:
“Girls Gone Wild” founder Joe Francis pleaded guilty Wednesday to filing false tax returns and will
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IRS Tax Help For Small Businesses and High Income Earners Facing Increasing Tax Rates

Monday, August 17th, 2009

If you are currently dealing with tax problems, now is a good time to get tax help before the new tax hikes kick in. The Obama Administration is continuing with its steadfast endeavor to collect back taxes as well as to collect more taxes from the wealthy and powerful.
Currently planned for 2011, Obama’s biggest tax hike will affect married filers making over $250,000 and singles making more than $200,000. In
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IRS Penalties for Fraudulent Tax Returns are Severe for CPAs and Taxpayers Alike

Tuesday, August 11th, 2009

Although there never was a “good” time to cheat on taxes, now is worse than ever for taxpayers and tax preparers to file fraudulent tax returns. With the IRS getting more funding and 800 more agents to collect taxes, taxpayers and CPAs who deliberately report fraudulent information on tax returns will be hit with severe IRS penalties.
If the IRS detects and proves beyond a reasonable doubt that fraudulence was deliberate,
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Ask the Tax Resolution Expert–Business Owner Needs Tax Help for Avoiding IRS Audits on Employees Underreporting Tips

Tuesday, August 11th, 2009

Whether or not you are legally obligated to report tip as income has been somewhat of a fuzzy area (especially cash tips!). Skimping on reporting your full tip (100% of your tip retained) is considered deliberately underreporting income and may be subject to severe IRS audits and penalties.
If you made more than $20 in tips in any one month, you will have to report the full amount of the tip
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Ask the Tax Resolution Expert-IRS Help for Taxpayer Threatened by IRS Audit for Income Tax Returns Prepared by Crooked CPA

Monday, August 10th, 2009

With the new surge in IRS enforcements, you could find yourself in serious IRS trouble if your tax returns are falsified—even if you hired someone else to file your taxes for you. Be careful about signing your tax returns to ensure that you will not be audited and penalized for false returns prepared by someone else.
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Question: I just received a letter from Maine Revenue Commission asking me to file amended
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Could Expert Tax Help Have Boosted this CPA’s Chances of Fighting IRS Tax Evasion Charges?

Friday, August 7th, 2009

If you are being accused of tax evasion by the IRS but you have reasonable cause to fight the charges, you will need to provide concrete evidence to substantiate your claim. With IRS audits on the rise due to stricter enforcement, it will be wise to keep important records that may later help you prove your innocence to the IRS.
Due to a lack of substantial evidence, a highly educated CPA
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Ask the Tax Resolution Expert - Tax Help for Filing Amended Tax Returns and Dealing with IRS Audits

Tuesday, August 4th, 2009

It can happen to any of us–you go through all the paperwork, fill in all the necessary information to the best of your abilities, and you drop the tax return in the mail. No sooner had you sent out your tax return did you remember that you forgot to add something from another W-2 or 1099. Now you have to file an amended tax return…
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Question: How do I go about
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IRS Tax Debt Relief News-Leverage Your Tax Resolution Options to Get the Tax Settlements You Need

Friday, July 31st, 2009

Check out our latest TRS IRS tax help newsletter for tax tips, IRS insider news, and income tax relief advice.
Many taxpayers who are in IRS trouble have found it difficult to be approved for IRS settlements such as the Offer in Compromise program. Historically, OIC application approval rates have remained under 25%. Recently, the IRS has updated the OIC application forms so that it is easier for applicants to understand.
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IRS Audits of Thousands of Innocent Offshore Account Holders Expected as UBS Releases 52,000 Names of Potential American Tax Evaders

Friday, July 31st, 2009

As a part of recent IRS efforts to find wealthy Americans who have been deliberately evading taxes by using offshore bank accounts, a deal has been reached today with UBS. The US Government and Switzerland have come to an agreement today that will force the Swiss bank, UBS, to turn over 52,000 names of suspected tax evaders.
According to the New York Times (www.nytimes.com), “UBS and the Swiss government have been
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Think Like a Tax Lawyer: Beware of Tax Evasion Schemes That Could Lead to Serious IRS Tax Trouble

Thursday, July 23rd, 2009

Small business owners and sole proprietors have been identified as the largest group that is contributing to the increasing tax gap of $350 billion/year. It is extremely difficult for the IRS to investigate each small business owner to uncover tax evasion acts such as under-reporting income.
In the current economy, the astonishing yearly tax gap is alarming to policymakers who are desperately short of funds. They find that they cannot fulfill
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Lawmakers Pressure the IRS to Strengthen Collection Efforts to Close the Yearly $345 Billion Tax Gap

Thursday, July 23rd, 2009

As part of recent efforts to collect unpaid taxes, the Senate Finance Committee has held a confirmation hearing on July 14 to consider the nomination of William Wilkins to be IRS Chief Counsel. Wilkins is expected to spearhead IRS efforts to close the $345 billion a year tax gap.
In this recession, the government feels more hard-pressed than ever to collect unpaid tax revenue in order to fund economically beneficial projects
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Take Advantage of The Amnesty Period for Quiet Disclosures as U.S. and Swiss Governments Accelerate Hunt for Tax Evaders

Monday, July 20th, 2009

In an effort to more aggressively pursue tax evaders who hide assets in overseas accounts, the US Department of Justice, UBS AG (Swiss Bank), and the Swiss government are working together to reveal the identities of US depositors who use secret offshore accounts.
In order to aid Obama’s latest efforts to bring out tax cheats who take advantage of offshore tax havens, the government of Switzerland filed a brief in the
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Claiming False Tax Deductions on Your Tax Return Will Bring Severe IRS Penalties

Friday, July 17th, 2009

If you submit false documents in your tax returns, the IRS will impose severe tax penalties on you upon discovery. The money you save by trying to claim excess deductions (that are not entitled to you) is not worth the IRS trouble you will bring yourself.
CCH (http://tax.cchgroup.com) reports:
Individual Submitting False Documents Liable for Fraud Penalty
An individual who improperly claimed deductions for employee business expenses and who submitted false documents
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Avoid IRS Penalties and Tax Problems Associated with Aiding or Assisting in Filing False Tax Returns

Tuesday, July 14th, 2009

The IRS considers the assistance of filing false tax returns a severely criminal and punishable act. The IRS is able to utilize charts and summary data of national tax return statistics to determine the “normalcy” of a tax return. If your tax return is substantially higher than the national average, you will be a likely suspect for the IRS to investigate. If found guilty, you will be penalized by
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Discharging Taxes and Penalties in Bankruptcy: How Delinquent Tax Returns Can Affect Your Eligibility

Tuesday, July 7th, 2009

When taxpayers file for bankruptcy, some taxes and penalties may be discharged–giving people a chance of obtaining tax relief.  When someone files for bankruptcy, the “automatic stay” stops taxing authorities from collection actions including seizures and wage garnishments. The extent of the tax relief from bankruptcy may depend on a few factors including: the kind of tax involved, the age of the tax, whether a return was filed, and the
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