Posts Tagged ‘IRS penalties’
Wednesday, May 22nd, 2013
Tax evasion is not just a problem for the wealthy. It’s a widespread issue that costs the government and honest Americans much needed revenues. Small businesses and sole proprietors are the largest contributors to the $450 billion tax gap (the difference between taxes reported and taxes paid) by skimming and under reporting their taxes. For their efforts, tax cheats are the focus of IRS scrutiny.
With IRS audits and aggressive IRS
Tags: FBAR reports, IRS audits, IRS penalties, IRS tax debt, IRS tax problems, offshore bank accounts, tax evasion, tax gap, tax lawyers, tax relief
Posted in Seeking Professional Tax Help, Tax Problem FAQs, Tax news and tips, tax help | No Comments »
Friday, May 17th, 2013
The stories that caught our attention this week ranged from tax evasion and fraud, to how the Offer in Compromise Program can help consumers, erasing tax debt in bankruptcy to the increase in IRS criminal investigations to the IRS under intense scrutiny.
The IRS Gets Scrutinized – By far the biggest IRS story this week revolved around the IRS itself! The agency is being closely examined for unfairly targeting conservative
Tags: Back Taxes, certified tax resolution specialist, IRS installment agreement, IRS penalties, IRS tax debt, Offer in Compromise, tax attorney, tax debt, tax fraud, tax help
Posted in Tax Problem FAQs | No Comments »
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
Tags: audit, certified tax resolutution specialist, Identity Theft, IRS Criminal Incestigation (CI), IRS penalties, IRS tax issues, IRS tax settlement, offshore bank accounts, tax attorney, tax audit expert, tax debt, tax fraud
Posted in 365 Ways to Keep the IRS at Bay, Ask the Expert, IRS Installment Agreements, IRS payment plan, IRS tax audit, Offshore Tax Settlements, Tax Evasion Advice, Tax news and tips, Voluntary Disclosure, tax help, tax resolution | No Comments »
Thursday, May 9th, 2013
Recently, I have been asked for my thoughts on the IRS’ proposal to pre-filled tax returns. Under a proposed system, the IRS would pre-fill taxpayers’ returns with the data employers and financial institutions have already reported. I came across a Forbes article titled: “Are IRS Prepared Tax Returns the Solution to our Tax Woes?“ that presented a decent overview of what such a system would mean for taxpayers, tax preparers and
Tags: Audits, IRS penalties, IRS prepared tax returns, irs problems, IRS tax problems, SFR, substitute for return, tax issues, tax problems
Posted in 365 Ways to Keep the IRS at Bay, Ask the Expert, Filing Unfiled Returns and Replacing Substitute for Ret, IRS tax audit, Tax news and tips, Taxpayer Advocate, tax help | No Comments »
Monday, May 6th, 2013
Every year after the tax day, clients inquire as to what tax documents they need to keep and for how long. Last tax season I wrote a blog post on the subject, inspired by a Forbes article by Tax Girl, Kelly Phillips Erb titled: “How Long Should You Keep Records after Tax Day?” I thought the information would be helpful for those who may be wondering what documents to hold
Tags: certified tax resolution specialist, IRS audit, IRS business audit, IRS penalties, IRS records, IRS tax issues, IRS tax problems, tax attorney, tax relief, Tax Resolution University blog, unfiled tax returns
Posted in 365 Ways to Keep the IRS at Bay, Ask the Expert, IRS payment plan, IRS tax audit, Penalty Abatement, Seeking Professional Tax Help, Tax Evasion Advice, Tax news and tips, Unfiled Returns - Delinquent Tax Returns, tax help | No Comments »
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
Tags: audit, Back Taxes, Government Accountability Office (GAO), IRS penalties, IRS problem solvers, irs tax relief, offshore tax settlement, tax attorney, tax evasion, Voluntary Disclosure
Posted in 365 Ways to Keep the IRS at Bay, Ask the Expert, Back Taxes, IRS tax audit, Offshore Tax Settlements, Penalty Abatement, Tax Evasion Advice, Tax Relief News, Taxpayer Advocate, Voluntary Disclosure, income tax relief, tax resolution | No Comments »
Tuesday, April 30th, 2013
Government investigators reported that the Internal Revenue Service has recouped more than $5.5 billion for the voluntary disclosure programs. NPR sites an Associated Press article titled: Tax Cheats Pony Up $5.5 Billion in Amnesty Program highlights a Government Accountability Office (GAO) report that shows how through these programs the IRS was able to get people to come forward to report their offshore bank accounts and assets in exchange for reduced
Tags: Back Taxes, certified tax resolution specialist, FBAR reports, IRS audit, IRS enforcement, IRS penalties, IRS tax attorney, IRS tax help, offshore amnesty program, offshore bank accounts, offshore tax settlement, tax cheat, tax evasion
Posted in IRS Tax Cases, IRS tax audit, Tax Problem FAQs | No Comments »
Tuesday, April 16th, 2013
It’s the day after tax day and for those taxpayers who don’t intend on filing a tax return, you may want to reconsider. Not filing means you will be facing significant IRS tax issues. Failure to file is considered a misdemeanor that can be punishable up to $10,000 per year and one year in jail. In fact, IRS penalties are more severe for non-filing than for non-payment. If it sounds
Tags: certified tax resolution specialist, Installment Agreement, IRS penalties, IRS tax debt, IRS tax problems, Offer in Compromise, penalty reduction, tax attorney, tax help
Posted in 365 Ways to Keep the IRS at Bay, IRS Installment Agreements, IRS payment plan, Offers in Compromise, Penalty Abatement, Tax Debt Help News, Tax Problem FAQs, Tax news and tips, Unfiled Returns - Delinquent Tax Returns, income tax relief, tax help | No Comments »
Monday, April 8th, 2013
I came across an interesting Fiscal Times article titled: “High Income, No Taxes: How Big Money Beats the IRS“. The article highlights an IRS report written by economist Justin Bryan that provides comprehensive data on the number of taxpayers who make more than $200,000 and pay zero income taxes.
The report contains detailed data and summary data for the period 1977 to 2008 as well as charts and graphs of almost 4
Tags: certified tax resolution specialist, IRS audit, IRS audit notice, IRS penalties, offshore bank accounts, tax attorney, tax audit, tax evasion, tax problems
Posted in 365 Ways to Keep the IRS at Bay, IRS tax audit, Seeking Professional Tax Help | No Comments »
Tuesday, April 2nd, 2013
With just 13 days until Tax Day, I thought many of you might need some tax relief humor. The article from @TodayMoney titled: “Happy birthday, modern tax system: 100 toasts and roasts“ could be just what the accountant ordered if you are agonizing over preparing your taxes. Here are some historical points of interest from the article about how our current tax system came into existence:
The current tax system was formalized
Tags: IRS debt, IRS penalties, irs problems, tax help, tax relief, Tax Resolution Services on Facebook, Tax Resolution Services Twitter, tax system
Posted in 365 Ways to Keep the IRS at Bay, Ask the Expert, Seeking Professional Tax Help, Tax Relief News, Tax news and tips, income tax relief, tax help, tax resolution services | No Comments »
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
Tags: audit, certified tax resolution specialist, Identity Theft, IRS penalties, IRS tax problem, offshore bank accounts, offshore tax settlement, Penalty Abatement, refund fraud, tax attorney, tax issue, voluntary disclosure program
Posted in 365 Ways to Keep the IRS at Bay, IRS payment plan, IRS tax audit, Identity Theft, Offshore Tax Settlements, Penalty Abatement, Seeking Professional Tax Help, Tax Evasion Advice, Tax news and tips, Voluntary Disclosure, tax resolution | No Comments »
Thursday, March 28th, 2013
The IRS just released its Dirty Dozen Tax Scam List for 2013 and introduced a video to remind taxpayers they need to protect themselves from the worst tax scams and schemes out there. While the “usual suspect” scams and schemes have not changed that much from last year, the notification explains how the IRS has stepped up their efforts to handle them, specifically identity theft related tax issues. Below the
Tags: Identity Theft, IRS Dirty Dozen list 2013, IRS enforcement, IRS penalties, IRS tax issue, refund fraud, tax help, tax identity fraud, tax problem, tax scam, tax scheme
Posted in 365 Ways to Keep the IRS at Bay, Identity Theft, Tax Help Video, Tax Problem FAQs, Tax Relief News, Tax Scams, Tax news and tips, tax help | No Comments »
Thursday, March 21st, 2013
As Tax Day April 15th draws near, I will be reaching into archive blog posts to gather useful and informative posts that can help taxpayers avoid IRS issues and find tax relief. Today’s topic: small business tax audits.
In a previous post and TaxMan episode for the Big Biz Show, I discussed how small business owners often make themselves targets for harmful tax audits citing a tragic story of business owners
Tags: certified tax resolution specialist, IRS business audit, IRS levies, IRS penalties, IRS problem solver, payroll tax debt, payroll tax issues, tax attorney, tax audits, TaxMan
Posted in 365 Ways to Keep the IRS at Bay, IRS payment plan, IRS tax audit, Payroll Tax Problems, Tax Evasion Advice, Tax Liens and Levies, Tax Relief News, Tax news and tips, tax resolution | No Comments »
Monday, March 18th, 2013
The IRS issued a press release late last week indicating an estimated 984,400 taxpayers who did not file a tax return in 2009, are entitled to a slice of $917 million in tax refunds! The IRS estimates that half the potential refunds for 2009 are more than $500.
There is a catch though. To collect the 2009 refund, a return must be filed, properly addressed, mailed and postmarked to the IRS
Tags: delinquent tax returns, Earned Income Tax Credit (EITC), IRS back taxes, IRS penalties, IRS tax issues, offshore bank accounts, tax attorney, tax debt, tax problems, Tax Resolution University blog
Posted in 365 Ways to Keep the IRS at Bay, Back Taxes, Filing Unfiled Returns and Replacing Substitute for Ret, IRS payment plan, Tax Debt Help News, Tax Relief News, Unfiled Returns - Delinquent Tax Returns, income tax relief, tax help | No Comments »
Monday, March 11th, 2013
A Forbes article by contributor Peter J. Reilly titled “Time to Eliminate Joint Filing?“ proposes whether joint filing is really beneficial to couples. In recent years, Reilly has come to think that joint returns for married couples are not such a great idea especially at a time when the federal government is deciding its definition is of marriage through the Defense of Marriage Act (DOMA). Other reasons for doing away with
Tags: certified tax resolution specialist, DOMA, expert tax representation, Innocent Spouse, innocent spouse defense, innocent spouse protection, innocent spouse relief, IRS penalties, tax attorney, tax problems
Posted in 365 Ways to Keep the IRS at Bay, Expert Help From Tax Attorney, Innocent Spouse, Penalty Abatement, Seeking Professional Tax Help, Tax Relief News, tax help, tax resolution | No Comments »