Posts Tagged ‘irs problems’

IRS Tax Problems-Agency Delays Start of Filing Season

Friday, October 25th, 2013

The government shutdown earlier this month did more than fray the nerves of citizens. It also delayed the start of the tax filing season. An article by MSN Money titled: “Shutdown causes IRS to delay tax filing season” cites an IRS press release sent out on October 22 announcing an up to two week delay to the start of the 2014 filing season due to the 16-day federal closure. The
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IRS Help for Innocent Spouse Victims

Thursday, August 15th, 2013

I came across a Forbes article this week that should be good news for those folks claiming or who have already claimed the Innocent Spouse Defense. The article by Tax Girl Kelly Phillips Erb titled: IRS Proposes to Permanently Ease Restrictions for Innocent Spouse Relief, reports that the IRS proposes to do the following:

Extend the amount of time taxpayers can apply for equitable relief through an innocent spouse application. Under
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Tax Help Tips-How to Avoid Tax Relief Scams

Tuesday, August 6th, 2013

For fifteen years, I have been helping people resolve their tax problems. During that time, I have seen my share of tax scams and schemes. Some of the worst ones have been from so called “tax resolution experts” who, with no previous experience in tax problem resolution, prey on struggling and vulnerable taxpayers seeking IRS tax relief. But not all tax resolution firms or experts are created equal.
After reading a
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Tax Relief News Round-Up Top Stories

Friday, July 12th, 2013

The top tax relief news this week ranged from tax evasion, to prison time for a false tax claim, troubles at the IRS, to a giant tax bill for the estate of actor James Gandolfini. Here is a recap of the tax stories we found interesting:
Tax Evasion by Guilty Texas Pharmacist– This post highlighted the story of Grapevine, Texas pharmacist Joseph Moss who was sentenced to one year and a
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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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IRS Tax Tips for Small Business Recordkeeping

Monday, June 10th, 2013

As a business owner, you are responsible for everything including recordkeeping – a task that small businesses sometimes don’t do very well. The IRS has released a very helpful recordkeeping FAQ webpage for small business and the self-employees that emphasizes the benefits of and reasons for good recordkeeping. Here are six practical FAQ’s the webpage highlights:
· Why should I keep records?
· What type of records should I keep?
· How long
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Actor Chris Tucker Pays Nearly $1 Million toward Tax Debt

Thursday, May 30th, 2013

It appears actor and comedian, Chris Tucker is taking a bite out of his huge $12 million dollar tax debt. According to a article titled: “Chris Tucker’s Tax Debt – $1,000,000 Down, 12 More to Go!“, it seems that the actor recently wrote checks totaling $985.028.98 to pay off two Georgia state tax liens: one for $592,594.82 for tax year 2007 and $392,332.16 for tax year 2006.
We reported in
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Tax Relief News Round Up: Top IRS Tax Stories this Week

Friday, May 10th, 2013

This was a busy week in tax relief and IRS news. The stories that caught our attention ranged from how long to keep IRS tax records, to celebrity tax woes and finding tax debt solutions to the pro’s and cons of IRS prepared returns.
This week started with a helpful post titled: Tax Relief Tips for How Long to Keep IRS Records. A general rule of thumb guideline suggests that
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IRS Prepared Tax Returns: Are They a Good Idea?

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
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Singer Lauryn Hill Gets Three Months In Jail for Tax Evasion

Tuesday, May 7th, 2013

Apparently, Lauryn Hill’s “Miseducation” may relate to how badly she handled her IRS tax problems. According to Accounting Today’s article titled: Fugees Singer Lauryn Hill Sentenced to Prison for Tax Evasion, Hill was sentenced Monday to three months in prison plus three months home confinement for failing to file tax returns for five years and not reporting more than $2.3 million in income. The article explains the terms of her
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IRS Audits Greater in Five Major U.S. Cities

Friday, April 19th, 2013

I wrote a post for the Tax Matters blog post about a recent report that revealed higher IRS audit rates in five major metropolitan areas. The culprits: small businesses attempting to tax dodge. An article by the Los Angeles Times titled “Los Angeles, San Francisco top cities for tax dodgers, study says” cites a new study from the National Taxpayer Advocate that analyzed IRS data of five metropolitan areas: San
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Tax Relief Tuesday-Humor at Uncle Sam’s Expense

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
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IRS Apologizes for Costly Star Trek Training Video

Tuesday, March 26th, 2013

Sometimes the government does things that make you want to shake your head. This post is about one of those instances. The Today Show reported in a segment titled “Live Long and Squander?” that the IRS is under fire for two training videos in particular a “Star Trek” parody the Agency thought would be good for employee training. NBC’s Kelly O’Donnell reports that a congressional committee was angry about the
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Employees Need Tax Relief for Billions Owed in Back Taxes

Tuesday, March 19th, 2013

I wrote a Tax Matters post last week on the news that 311,566 federal workers (including retirees) owe over $3.5 billion in back taxes. Many of the details came from both Forbes and MSN who reported on this story. While this topic is quite galling in many respects, the simple fact remains; more government employees with presumably decent incomes are struggling to pay their tax debt and need tax relief.
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Tax Changes to Know before Filing a 2012 Tax Return

Thursday, February 28th, 2013

An article by Forbes titled “11 Changes You Must Know Before Filing Your Tax Return for 2012” reminds us that the recent changes to the tax code could affect many of us and our wallets this tax season. Here are eleven important changes that the article highlights:

Payroll Tax Credit for Self-Employed Taxpayers
W-2 Forms Changed This Year Due to the Affordable Care Act (ACA)
2010 Roth Conversions May Be Subject to Tax
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