22 06, 2017

If You Can’t Make Sense of Your IRS Letter, You NEED This Handy Transaction Code Pocket Guide

2017-06-20T13:19:17+00:00 June 22nd, 2017|IRS News, IRS Tax Relief, Tax Resolution Experts|

IRS Transaction Codes Pocket Guide The mail came again today and instead of containing numerous checks made out to you, and packages from Amazon.com has you hope each day, you got a letter from the Department of the Treasury aka the IRS.  Maybe this is the first time you received a notice like this, but probably not.  As is the case with most people in this situation, you sigh and contemplate whether to bother opening it.  I know this is not what you want to hear, but opening the letter is the first step to solving this problem. [...]

20 06, 2017

IRS Meets Robocop – The IRS Turns to Data Mining to Find Tax Evaders

2017-06-20T12:41:36+00:00 June 20th, 2017|Income Tax Problems, IRS News, Tax Policy News, Tax Resolution, Tax Resolution Experts|

Does tax evasion warrant widespread government spying? Welcome to the 21st Century.  The United States is fighting a "tech war" against its own citizens, assuming they are tax dodgers. By using "data mining", the IRS is seeking  to track down and collect taxes from those who move their income to Swiss banks and other offshore tax havens. Granted, these are “edge” cases, which were brought to light from the disclosures found in the Panama Papers (the set of documents from the Central American law firm Mossack Fonseca that were hacked by tech activist, Anonymous).. The question is “How [...]

8 06, 2017

“No Soup for You!”…The Company that Inspired Seinfeld Character has Big-Time Payroll Tax Problems!

2017-06-08T10:25:29+00:00 June 8th, 2017|Payroll Tax Problems|

Payroll tax problems can add up quickly In case you were worried, we should clarify that the original owner and Seinfeld “Soup Nazi” character inspiration Al Yeganeh has NOT been charged in this case. Rather, the company’s (Soupman, Inc.) CFO Robert Bertrand has. Apparently Mr. Bertrand has been "cooking the books" by paying employees in cash and stock in order to avoid the company’s tax obligations. The IRS estimates that based upon the amount paid “under the table”, the lack of Social Security, Medicare and Federal income tax deposits have led to a shortfall of about $600,000 in [...]

30 05, 2017

IRS News: Nationwide Tax Professionals Forum and IRS Video Channels on Youtube

2017-05-31T14:45:39+00:00 May 30th, 2017|Business Tax Problems, IRS News, Tax Professionals Training, Tax Resolution Experts|

It's like Prom for tax nerds! The IRS has entered the 21st century.  With their embrace of popular new media tools to help both taxpayers and tax professionals navigate the ever changing sea of tax regulations, collections and compliance, the IRS continues to impress.  That's right, we said the IRS. Below you will find links highlighted in a recent tax circular that not only announce the video press release regarding the nationwide Tax Forum but also provide useful links to three alternate languages. Here is the blurb from the IRS Nationwide Tax Forums project: "If you are an enrolled agent, [...]

23 05, 2017

Avoid These Tax Traps if you Need to File for Bankruptcy

2017-05-23T14:20:18+00:00 May 23rd, 2017|Bankruptcy Law, Bankruptcy Petition, Individual Bankruptcy, Tax Resolution Experts|

Do you think that income taxes can be discharged in bankruptcy?  They can. One of the greatest pitfalls that prevents you from being able to discharge at least some of your tax liability in bankruptcy is having a clear picture of your complete tax situation. A crucial step (among many) your tax professional needs to take is to obtain copies of your IRS account transcripts for each year to ensure that you (1) know which years are filed (and when) and (2) if and how much you owe for each year. Once you have this information, you know where to [...]

9 05, 2017

Too Busy to File or Pay your Taxes? Make a Tax Appointment with the IRS Once They Find Out!

2017-05-23T10:01:49+00:00 May 9th, 2017|IRS News, IRS Tax Levy, Tax Resolution Experts|

Get your tax appointment with the IRS now! Like most businesses and unlike most governmental agencies, the IRS is making an effort to become more efficient. Part of that push includes moving documents and services online. If you are unable to resolve your matter online and need to see a live person, the Taxpayer Assistance Center will now see you by appointment. Here are the steps to schedule your appointment: Go to the Taxpayer Assistance Center locator page here: https://apps.irs.gov/app/officeLocator/index.jsp Type in your Zip code Choose the radius in which you are willing to travel, eg. "10 miles" [...]

1 05, 2017

Filing a Tax Extension Doesn’t Get You Off the Hook or Tax Filing Deadlines YOU need to know!

2017-05-23T10:01:49+00:00 May 1st, 2017|IRS News, Tax Resolution Experts|

Filing a tax extension? You should know about these secondary deadlines. Dear procrastinator American taxpayer, We understand you have chosen to file an extension for your 2016 taxes. Well, we have some gentle words of warning for you about tax filing deadlines! We know filing and paying taxes can be a pain in the neck, but trust us (we are well seasoned professionals after all) when we tell you that we see the heartache (and wallet-ache) caused by putting off the inevitable. By filing an extension, you are just putting off the inevitable. At some point, your taxes [...]

18 04, 2017

IRS warns “Taxpayers: watch out for scam phone calls!”

2017-05-30T15:18:35+00:00 April 18th, 2017|IRS News, Tax Resolution Experts|

IRS phone scams are rampant. Don't be a victim! As if April wasn't a busy enough month for tax confusion it also happens to be when the IRS has decided to start their new program of the collection of overdue Federal taxes using 3rd party, private tax collectors. In perhaps an ironic twist they believe that scam IRS phone callers are going to attempt to mask their activity in the confusing new landscape presented by this change. First a bit of background to give you a glimpse at the bigger picture: "Starting this month, the Internal Revenue Service [...]

13 04, 2017

Is the IRS getting soft? Don’t count on it!

2017-05-30T15:28:04+00:00 April 13th, 2017|IRS News|

IRS Data Book - Gross Tax Collections chart 2017 Every fiscal year the Internal Revenue Service releases its own self-report called the "Data Book". The IRS Data Book contains a range of tax data including service and enforcement changes. While there are indications that enforcement actions are down, perhaps due to a restriction in resources, no one should ever play Russian Roulette with their taxes. We've pulled out the most interesting factual tidbits from the report...here they are: This year’s edition of the IRS Data Book marks 100 years since the Revenue Act of 1916 became law. The [...]

11 04, 2017

IRS Installment Agreements are changing! Get the details.

2017-05-30T15:45:40+00:00 April 11th, 2017|Installment Agreement, IRS News, Tax Resolution Experts|

IRS Installment agreements are changing The IRS has introduced new changes to their Installment Agreement programs. These changes affect the schedule of fees for these services. The changes described in this article took effect on January 1, 2017.  The new regulations apply to all new installment agreements as well as any installment agreement that need to be revisited.  If you reinitiate or reinstate an existing installment agreement, the new fees will apply! In addition to the increase in fees, two new online installment agreements are being added, each with its own set of fees. One important point to [...]