Posts Tagged ‘tax resolution’

5 Reasons to File Delinquent Tax Returns: There’s Still Hope if You Haven’t Paid Your Taxes This Year

Monday, April 20th, 2009

Did you pay your taxes this year? You can run, but you can’t hide from the IRS! However, there is hope for struggling taxpayers to resolve back taxes and avoid IRS penalties!
For the millions of Americans who failed to file legally required tax returns, there’s still hope for receiving income tax relief! Even taxpayers who received an extension for filing are not granted more time for the payment of taxes
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In Bad Economy, Tax Enforcement and Convictions of Tax Defiers Are on the Rise

Friday, April 17th, 2009

I recently blogged about how frivolous arguments topped the IRS Dirty Dozen list of most common tax schemes. And in this bad economy, there will be more individuals maintaining frivolous arguments for not paying their taxes.
While many Americans were paying their taxes on April 15, there’s a group of citizens known as tax defiers, deniers or protesters who cite many different reasons refusing to pay their income taxes.
Their frivolous arguments
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There’s Still Hope if You Didn’t File Your Taxes: You Can Still Get Income Tax Relief and Avoid IRS Penalties

Thursday, April 16th, 2009

It’s the morning after April 15… Did you file your taxes?
Every year, millions of taxpayers fail to file legally required tax returns by the April 15 deadline, which can lead to more significant financial problems in the long run including huge penalties and jail time. But it’s not too late for delinquent taxpayers to resolve tax debt and avoid IRS penalties.
The longer you put off dealing with overdue taxes, the
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Have You Filed Your Taxes? Consequences Include Increased Financial Liability and Imprisonment

Wednesday, April 15th, 2009

It’s tax day! I know people don’t file their tax returns for different reasons and in this economy, and many Americans may opt to not file because they don’t have the funds to pay the taxes owed.
If you can’t afford to pay your taxes, there are payment options for tax relief!
Additionally, what taxpayers may not know is that failure to file tax returns may be construed as a criminal act
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2009 Dirty Dozen: IRS List of Most Common Scams to Avoid Paying Income Taxes that Land Victims in a World of Tax Trouble

Tuesday, April 14th, 2009

According to the IRS annual Dirty Dozen list of most common tax schemes, phishing “expeditions”  are on the rise this year along with frivolous tax arguments.  I even got a phishy email the other day.  These scam email look real too.. on IRS simulated letterhead complete with the logo and all.
It’s no surprise that these tax scams are being peddled to Americans in full force -  as IRS enforcement is
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Reasonable Cause Not Established for Failure to Timely File Returns and Pay Taxes; Penalty Imposed

Tuesday, April 14th, 2009

Failure to file your legally required tax returns can cause you to incur significant penalties and may be construed as a criminal (misdemeanor and potentially a felony!) act by the IRS. However, there are circumstances where an individual may have “reasonable cause” for not filing or paying taxes due (divorce, job loss, death in the family, illness, etc).
The law allows for the abatement of penalties for reasonable cause, which is
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Can’t Afford to Pay Your Taxes? IRS Offers Payment Plans and Tax Relief Options

Monday, April 13th, 2009

If you can’t afford your tax bill this year, know that the IRS offers payment options for struggling taxpayers.
While individuals are urged to file their tax returns and and pay any taxes owed by April 15, the agency is aware that the economic downturn has made this difficult for many people.

Taxpayers who do not file their tax returns by the April 15 deadline may be subject to a failure-to-file penalty.
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Guidance on Sharing of Financial Information in Innocent Spouse Cases

Monday, April 13th, 2009

Taxpayers can get in tax trouble because of their spouses or (ex-spouse’s) financial problems – but the good news is the IRS has guidelines for innocent spouse relief.  And in a recent email, the Chief Counsel’s office has just released additional guidelines on the sharing of information in these types of cases.
CCH (http://tax.cchgroup.com/) reports:
The Chief Counsel’s Office has provided guidance, in an e-mail, regarding the sharing by the IRS, in
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Ten Last Minute Filing Tips from the IRS – Save Time and Money When Filing Your 2008 Tax Returns

Monday, April 13th, 2009

If you haven’t filed your 2008 tax return, haven’t paid your your taxes owed, or are requesting an extension of time for filing, the IRS has issued last minute tax tips that can help you in these final hours.
Knowing how to get tax help and learning about options that are available to you as a taxpayer can save you time, money and frustration in the long run. For instance, if
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Taxpayers Who E-File Requests for Extension of Time to File Returns Must Still Pay Their Taxes By April 15

Friday, April 10th, 2009

The IRS urges taxpayers who need additional time to complete their tax returns to e-file their requests for extensions by April 15. All taxpayers can e-file a Form 4868, Automatic Extension of Time to File at no cost from a home computer. This is a convenient and secure way to receive confirmation of your extension for your records.
The extension gives taxpayers 6 more months or until October 15 to file
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Ask The Tax Resolution Expert – What is the Offer in Compromise, and how do I qualify?

Thursday, April 9th, 2009

It’s tax season – the perfect time to resolve your tax probelms and get your IRS questions answered!
Got tax questions about tax audits, wage garnishments, IRS bank levies, payroll tax problems, or tax relief in general? Call our office today at 1-866-IRS-PROBLEMS or visit www.taxresolution.com for a free tax resolution consultation.
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Question: Give it to me straight, please. I have substantial tax debt. What is the Offer in Compromise, and
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Ask the Tax Resolution Expert: Canceled Debt – Is it Taxable Income or Not?

Tuesday, April 7th, 2009

It’s tax season – the perfect time to resolve your tax probelms and get your IRS questions answered!
I’ve received several questions in the past few weeks asking about cancellation of debt and taxability. Below is a good summary from the IRS website.

Topic 431 – Canceled Debt – Is it Taxable or Not?
In general, if a debt for which you are personally liable is canceled or forgiven, other than
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IRS Asserts Position on Tax Protesters: Sanctions Imposed for Advancing and Maintaining a Frivolous Argument

Saturday, April 4th, 2009

In attempts to close the tax gap, the IRS is increasing tax compliance and aggressively taking action against tax cheats and tax promoters. As the tax gap grows, more Americans than ever will be facing audits and the IRS will be re-asserting it’s position on individuals who maintain frivolous arguments for not paying their taxes.
CCH (http://tax.cchgroup.com/) reports:
Sanctions were properly imposed on an individual who advanced a frivolous argument that he was not
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Health Nominee Sebelius Reveals Tax Troubles and $7,000 in Back Tax Debt

Friday, April 3rd, 2009

Kansas Gov. Kathleen Sebelius, Obama’s pick to head the Department of Health and Human Services, did not pay $7,040 in taxes between 2005 and 2007. She paid the back taxes and penalty after they were identified.
In addition to Sebelius, five other Obama administration nominees have come under fire for unpaid taxes including Tom Daschle and Timothy F. Geithner. Labor secretary Hilda L. Solis  had to answer questions about $6,400 in
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Senate Plans to Approve $825 Billion in Tax Cuts to Offer Tax Help to Middle Class

Friday, April 3rd, 2009

The Senate is expected to approve a 2010 budget that includes $825 billion in tax relief over the next five years.
The budget resolution offers tax help targeted largely to the middle class and would extend the 2001 and 2003 middle-class tax cuts enacted in the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003 over the five-year span of
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