Monthly Archives: July 2010

//July
­

New Government Report: IRS Does Not Protect Taxpayers And Often Breaks Rules When Filing Tax Liens

When important tax news comes down the pipeline, the Tax Resolution Institute knows how essential it is to keep you informed. According to a new federal government report, the IRS does not always follow legal requirements when issuing liens and lien notices.  As a direct result, the report concludes that action is needed to protect taxpayer rights during the IRS lien process. The Treasury Inspector General for Tax Administration (TIGTA) issued the report. A federal tax lien is issued when the IRS enters into the public record the extent of a taxpayer's delinquent tax bill. What is most impressive is [...]

Tax Resolution Services Scams

This is an introduction by the Tax Resolution Institute to Tax Resolution Services Scams and our anger that predatory companies are illegally taking advantage of American taxpayers. Tax Resolution Services Scams is a major search term on Google and these scams by so-called tax resolution services companies are giving the essential business of tax resolution a bad name. Negative late night television advertising by such scam artists promotes tax resolution service programs that are non-existent. After being promised a miracle cure as opposed to actual tax relief, the taxpayer typically pays a retainer of $5,000 to $7500 to the tax resolution [...]

Nevada Tax Amnesty Program Does Not Effect IRS Payroll Tax Debts And Back Income Taxes

On June 30th, the Governor of Nevada announced the 2010 Tax Amnesty Program that ends on September 30, 2010. The program was authorized by the Nevada Legislature and signed into law by Governor Gibbons. For eligible taxes due and payable to the Department prior to July 1, 2010, the program provides for a one-time waiver of penalty and interest if the outstanding tax liability is paid in full during the amnesty period. The tax amnesty only affects Nevada State taxes and not Federal taxes like IRS payroll tax debts and back income taxes. The problem is when an [...]

Tax Resolution Services Complaints

This is an introduction by the Tax Resolution Institute to Tax Resolution Services Complaints and our frustration with the second-rate and even criminal services provided by our competition. Tax Resolution Services Complaints  is a major search term on Google and these complaints by American taxpayers against tax resolution services companies can be found on complaint sites across the Internet. These negative review sites with Tax Resolution Services Reviews and Tax Resolution Services Complaints include the classic examples like the The Complaints Board and The Rip-Off Report to the more recent additions like My 3 Cents and The Pissed Consumer. Of [...]

California Franchise Tax Board Agents Arrest Tarzana Man For Filing Fraudulent State Income Tax Returns

California Franchise Tax Board special agents arrested a Tarzana man on five counts of filing fraudulent state income tax returns. Nicholas A. Francisco (59), the owner of a check cashing business, allegedly failed to report more than $3.5 million in income on his 2003 – 2007 state income tax returns. At the present time, Francisco owes the state more than $735,000 in unpaid tax, interest, and penalties. The cost of the tax investigation, however, will be added to this amount and sought as restitution. In addition, each tax count carries a maximum sentence of three years in state prison. [...]

5 Key Points Regarding Payroll Taxes For Business Owners in San Francisco, San Jose, and Silicon Valley

As the Northern California economy slowly comes back from the recent downturn and business starts picking up, it is essential that business owners in Northern California are aware of five essential points in regards to the IRS and payroll taxes. Since San Francisco, San Jose and Silicon Valley have traditionally been the high tech business centers of Northern California, they were hit the hardest by the recession. If a business cut corners when it came to paying their payroll taxes in the form of the trust fund, there are five points that are essential to know. Since the Revenue Officers [...]

Avoiding Income Tax Problems For Nevada Gamblers in Las Vegas and Reno: Gambling Revenue and IRS Taxes

In Nevada, particularly in the Gambling Meccas of Las Vegas and Reno, gambling revenue often proves to be a land mine when it comes to federal income taxes. High rollers tend to incredible swings when it comes to winnings and losses, resulting in problems when it comes to covering their income tax debts. Although Nevada has no state tax, federal taxes still apply across the board with no exceptions. The IRS treats taxpayers in Nevada in the same fashion that they treat taxpayers across the country. All Gambling Revenue is Taxable By The IRS If you are unable [...]

Payroll Tax Problems On the Rise For New Jersey Business Owners From Newark To Atlantic City

As New Jersey continues to face a challenging economic crisis and wealthy taxpayers abandon the state to avoid rising taxes, New Jersey business owners find themselves treading dangerous waters. From the big city streets of Newark to the casino-run boardwalks of Atlantic City, traditional avenues of revenue are drying up and profits are harder and harder to come by. As a result, when faced with a monetary crisis and lacking funds to cover the usual bills, business owners are choosing more and more to cut corners when it comes to paying their payroll taxes. By failing to cover [...]

A Shifting Economy In Las Vegas Results In Payroll Tax Problems For A Growing Business

As the Las Vegas economy shifted from full-speed ahead to a downturn reflecting the overall economy, numerous business owners found themselves in financial difficulty. A client of the Tax Resolution Institute with a number of small business ventures found himself with serious payroll tax problems. Originally the owner of a small motel on the outskirts of the main strip, the client had expanded his business to include a theme restaurant and a novelty store during the recent boom. When hard times arrived, the client chose to rob Peter to pay Paul by using the Trust Fund from his employee’s Federal [...]