Happy Friday. It’s time round up a busy week of tax news. Let’s get started.
Tax Fraud continues to be the number one tax issue facing the IRS. This week, however the Agency found itself in the hot seat after a government report revealed that the IRS allowed millions in fraudulent returns to be processed without detection. On Wednesday, the Treasury Inspector General released a report critical of the IRS sighting that they rushed too quickly to issue identification numbers to non-U.S. residents then didn’t detect the millions in tax fraud their processing haste caused. The Bloomberg News article IRS Allowed Fraud in Rush to Issue ID Numbers, Audit Says provides more details.
However, you can’t underestimate the IRS’ ability to catch and prosecute tax cheats. From Twitter, a @HumbleNews article entitled Humble pastor, wife convicted of tax fraud reports that a Texas pastor, David A. Montgomery and his wife Bridget M. Montgomery were convicted this week of tax fraud for misreporting income from their construction business for tax years 2003 through 2006 then putting that money into their church. The couple is facing up to five years in prison, a $250,000 fine and a maximum of three years and a $100,000 fine on each of the false statements convictions.
Tax relief help: If you still owe back taxes, here are ten taxpayer tips that will get you closer to resolving your IRS issues and bring you peace of mind. The number one goal should be to pay the IRS ASAP– even if you have to secure a loan or use your credit card. You don’t want to pay high IRS penalties and interest that will only cost more if you do nothing. Plus, once you enter into an IRS payment program, you’ll get the IRS off your back. If you are overwhelmed by severe tax debt, contact a tax professional who understands tax resolution to help you so you don’t have to face the IRS alone.
Tax Resolution Practices in Use – A recent episode of the Tax Man gives insight into how the Tax Team and I employ tax resolution tactics when looking for the best tax relief solutions for our clients. This episode in particular features common tax problem cases such as Payroll Tax Issues, Delinquent Tax Returns and Offer in Compromise. Thanks to new guidelines regarding the Offer in Compromise Program, the Team has been able to help more taxpayers in need than ever before. This is good tax relief news – check out the video to see for yourself!
Have a great weekend and enjoy the remaining days of summer.
More Tax Help, IRS News and Tax Relief Tips:
- Tax Relief Weekly News Round-Up
- Five Tips to Resolving Payroll Tax Problems
- Tax Help Tip-Avoid the Delinquent Tax Return Trap
- IRS Offers Tax Help Tips-Worker Classification
- New Offer in Compromise Policies Bring Tax Relief