Tax Relief and IRS Resolution Tips and Resources from
the Nation's Leading Tax Negotiation & Mediation Firm
Feel like you deserve to deduct something and push the limits of what is legal? The IRS isn’t putting up with frivolous deduction claims, and in fact, will slap you with a fine. U.S. legal code 6702 states that “A person shall pay a penalty of $5,000 if such person files what purports to be a return of a tax …and is based on a position which the Secretary has
In this weak economy, taxpayers have lots of questions about cancellation of debt and taxability.
According to the tax code, if a debt for which you are personally liable is canceled or forgiven, other than as a gift or bequest, you may have to include the canceled amount in gross income. While it’s important to know if your canceled debt qualifies for exclusion from your income, it is also necessary to
Nicolas Cage just won a deal with the Internal Revenue Service to pay $666,000 plus interest for improperly deducting $3.3 million in personal expenses from 2002 to 2004. Earlier this year, Cage contested a personal IRS bill for $814,000 in taxes, interest and penalties, while his Saturn Productions of Los Angeles company was stuck with a bill for $988,000.
While Cage’s settlement includes $99,000 for an accuracy related penalty, no penalties
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News, commentary, insight, tips and humor from tax expert Michael Rozbruch
Michael Rozbruch is a Certified Tax Resolution Specialist, a member of the American Society of IRS Problem Solvers and a Maryland CPA.
If you find yourself in trouble with the IRS and need professional tax attorney and tax resolution services, call (888) 699-7630. Effective tax negotiation and representation means that your tax attorney, Certified Tax Resolution Specialist or CPA will take over all communications with the IRS, filing any delinquent tax returns to bring you to full IRS compliance while vigorously defending your rights as a taxpayer to permanently resolve your back taxes and IRS problems.
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