Today’s Tax Resolution Tip:
The BIGGEST red flag that results in triggering a tax audit for yourself or your business is claiming false business expenses. Don’t do it!
Read about IRS tax audits and what you should be doing to avoid them. Visit our tax relief FAQ page for more tips on audits and the red flags to be wary of.
For a daily dose of tax relief tips, check out 365 Ways to
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Bringing you another edition of tax help news from the blog-o-sphere, including tax tips, tweets and everything tax! At Tax Resolution Services, Co. we like to keep up with what is going on in the tax world. Not only does this enable us to offer expert tax help, but we strive to educate consumers on current news and relevant tax content.
Check out some of the recent tax buzz we’ve Stumble(d)Upon upon
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Tax laws are always changing and it can be a full time job keeping up to date with the laws, not to mention making sure you understand them thoroughly. If you took advantage of the 2008 home buyers tax credit you may be surprised to be reminded that you’re due to start paying back your credit starting with your 2010 return.
A recent article on MSN by Allison Linn titled “Uncle
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The Jan. 31 deadline for filing Form 1099s for independent contractors is around the corner. A major target on the IRS hit list is worker status.
Why would the IRS care how a business owner classifies workers? Because the tax burden on the owner changes dramatically depending on how a worker is classified. The IRS is on the lookout for worker misclassification—it doesn’t matter if it is deliberate or inadvertent—to capture
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According to recently released statistics, IRS audits have jumped a whopping 11% this year-targetting the wealthiest and business owners.
According to CBSNews, “the IRS examined more than 1.58 million individual returns in the budget year that ended in September, up from 1.43 million the year before.” With people whose incomes were more than $1 million, about a little over 8% were audited while the overall audit rate for individual tax returns
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At Tax Resolution Services, we want to emphasize that we do not condone illegal tax behavior.  We take pride in finding affordable tax relief for individuals and corporations who find themselves in tax trouble with the IRS.  Some of the tax relief services we provide are for those who need to settle back taxes, are involved in an IRS audit, need to resolve payroll tax problems, or need to set up
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It might seem like an oxymoron, but we really should be thankful for the Internal Revenue Service. It is a fair and (mostly) comprehensible system that is the envy of many people around the world who answer to corrupt officials and governments. While it may provide little solace to those struggling with tax debt in the slowly rebounding economy, in the spirit of the holidays we have put together our
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Followers of talk show host Sean Hannity no doubt are familiar with his less than sanguine feelings regarding the nation’s tax system as well as the broad scope of the IRS enforcement powers, both of which are frequent topics on his nationally syndicated radio show.
“The IRS continues to step up its efforts to come after you for what they think is their money,” Hannity says. “The audit rate today is
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If you find yourself nervous after reading all the tax relief scam stories on the news lately, you’re not alone. After all, how can you know who to trust to solve your IRS tax problems for good?
One of the best indicators of a tax relief firm’s competence is their tax debt settlement success rate. And here’s where the taxpayer needs to be extra careful–many tax relief firms will overstate their
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Someone needs to un-break Toni Braxton’s bank account.
The 43-year-old R&B singer, best known for her hit single “Un-Break My Heart,” owes $396,330 in back taxes to the Internal Revenue Service, according to a tax lien the federal government filed against Braxton.
In a bankruptcy petition, Braxton the told the court she is worth $1 million to $10 million but has between $10 million and $50 million in debt.
Ouch.
Braxton’s money and tax
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September was a busy month! In addition to sharing our regular tax relief news on our website and blog, our team at Tax Resolution Services also launched a series of short tax help videos on Youtube to reach even more taxpayers in need of tax resolution.
So with October just rolling in, I’d like to take a moment and recapture some of our top blog posts from September, just in case
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You may have already heard that the IRS is planning to audit some 6,000 businesses (emphasizing companies who categorize their employees as independent contractors) in the upcoming years. The question is: are you ready for it?
It is estimated that companies underpay employment taxes by $14 billion each year. The IRS is selecting 2,000 companies at random each year for the next three years and putting their most experienced agents on
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In plain terms, an IRS audit is to ensure that your tax return is filed correctly — that you’re not claiming too many unwarranted deductions, and that you’re paying what you really owe Uncle Sam. It all starts with a number that the IRS computer assigns to your tax return known as the DIF score.
The IRS is pretty hush-hush about how it’s calculated, but the higher your DIF score, the
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Do you have an IRS tax audit pending?  Did you know that over 50% of the referrals that the Criminal Investigation Division (CID) gets are from the IRS agents who interviews you for the tax audit?  IRS tax audits are serious!  Your answers from the initial audit meeting can determine your fate!  Tax Resolution Services highly recommends that you seek expert tax representation before your IRS audit happens.  At Tax Resolution
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As the IRS enforcement budget reaches unprecedented levels, more Americans than ever will be audited. And taxpayers threatened by IRS audits will need to know how to increase their chances of qualifying for tax relief.
In fiscal-year 2009, nearly 1.4 million Americans were audited, which equates to just over 1% of all tax returns filed. The IRS also collected $48.9 billion in back taxes and penalties through collection, examination and document-matching efforts.
The
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