For fourteen years, I have helped people just like you solve IRS tax problems including IRS audits and having no money to pay off back tax debt. For those currently needing IRS relief, I’m happy to announce that you are in luck; the Tax Man is here with a new tax help video series. The purpose of this Tax Man video series was to give taxpayers in need of tax relief
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26 USC § 6103 – Confidentiality and disclosure of returns and return information – provides that a taxpayer’s tax return information shall be confidential: a) General rule Returns and return information shall be confidential, and except as authorized by this title â (1) no officer or employee of the United States, (2) no officer or [...]
I recently posted tax relief tips on the Big Biz Show blog. Here is a link to the blog post and I would encourage readers who missed the tax deadline to take a look.
With tax season a recent memory and many still facing difficult tax issues, the topics covered in the post focused on how to deal with these common IRS tax problems: IRS audits
Delinquent tax returns
Tax debt payment options: using
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The IRS just released a video entitled Employee or Independent Contractor? that gives guidance to unsure employers interested in properly classifying their workers as either an employee or independent contractor. Improper classification can result in steep IRS penalties for both employer and worker with many business owners getting into trouble simply because they donât know the difference. Understanding this distinction can help a business owner avoid an IRS audit.
The IRS
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News agencies were abuzz about Wednesdayâs Supreme Court decision stating the IRS could not use the extended, six-year statute of limitations to collect unpaid taxes from a business, Home Concrete & Supply, LLC in a tax shelter case. Robert Wood of Forbes in his article HUGE Taxpayer Win: Supreme Court Tells IRS 3 Years to Audit Is PLENTY! believes the historic decision regarding this tax shelter case will have a
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The Internet has enriched our lives and made some things easier, but it didnât make life simpler especially for those with virtual businesses. I recently wrote an article regarding e-commerce tax issues entitled “The E-Commerce Conundrum: Taxing Virtual Businesses and Their Investors and the Lawâ explaining that e-commerce businesses not only face IRS tax problems but also pressure from state legislatures to collect and pay state taxes.
Advances in technology including
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Like clockwork, about a week or two after the April 17 tax deadline, I begin fielding taxpayer questions regarding what tax documents to keep and for how long. A recent article in Forbes by Tax Girl Kelly Phillips Erb entitled How Long Should You Keep Records after Tax Day? provided good guidelines on the subject.
Here are seven basic recommendations for keeping tax documents both individuals and small businesses can follow:
In
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Countdown to tax day: 1 day For those who have filed their taxes, congratulations. For those who think procrastination as a sport, I wish you well. For others who are overwhelmed, it might be time to seek tax help from a tax professional. During my recent appearance to the Midday Sunday Fox 11 with host Tony Valdez program, I offered tax tips related to tax preparation software and knowing when
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In the homestretch â 4 days until Tax Day!
Happy Friday! Here’s the tax help news round up heading into Tax Day Tuesday April, 17.
Tax relief tips were the dominant theme and meant to provide tax help for last minute taxpayers who are filing or possibly avoiding their tax obligation. Here are the highlights of the weekâs news: The IRSÂ Newsroom released a bulletin with payment options designed for struggling taxpayers having trouble
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In the homestretch – less than a week until Tax Day! During my recent appearance to the Midday Sunday Fox 11 with host Tony Valdez show, Tony and I discussed tax resolution and the burgeoning industry it has become. Highlights from the interview could prove helpful for those who may have back tax issues but be too overwhelmed to get help to resolve their tax burden. These answers should
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Countdown to Tax Day: 7 Days
On a previous episode of the TaxMan on the Big Biz Show, Sully and I discussed how small business owners sometimes make themselves targets for harmful IRS audits. Â While many business people are great at getting clients, they fall down in the back office with duties such as proper accounting practices. This lack creates unnecessary IRS tax issues and can bring a great business to
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Countdown to tax day: 12 days
On my recent appearance to Midday Sunday Fox 11 with host Tony Valdez, Tony asked me about the typical mistakes taxpayers make when filing their taxes. Here are the four most common:
1. Forgetting to sign the tax return This is the number one avoidable mistake people make every year. They are rushing to get their taxes done, forget to sign the returns, put them in
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In case you havenât noticed, the IRS is doing quite well collecting taxes from wealthy Americans. An article in the LA Times by Tiffany Hsu titled IRS collected $2.4 trillion in taxes, audited more multimillionaires demonstrates how IRS audits of millionaires has helped to contribute to the first revenue increases the IRS has seen since 2008.
From October 2010 through September 2011, the IRS collected $2.4 trillion in taxes from 234
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The Wall Street Journal reports in IRS Ramps Up Audits of Wealthiest that “the IRS expanded its audits of Americans earning more than $500,000 last year, with a stark increase for those making more than $1 million:” The agency, in an annual report released Thursday, said it performed audits in the year ended Sept. 30 on 5.4% [...]
A previous blog post entitled Tax Advocate Warns Taxpayers Rights at Risk mentioned the release of the annual report to Congress by National Taxpayer Advocate Nina E. Olson.
Olson, an outspoken official whose staff works within the IRS to resolve taxpayers tax issues, was very critical of several IRS practices and processes that end up putting taxpayers last.
In the Forbes article IRS Advocate: New Taxpayer Rights Crisis Is Brewing detailing the
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This March has been epic! Not only did we launch TaxMan TV on the Biz TV Network early this month, I have been invited to share tax relief tips on Midday Sunday Fox 11 with host Tony Valdez, that airs on Sunday, March 18 at 9am/PST.
I appreciate the opportunity to speak on a subject I know so well; tax debt resolution. I think what makes me uniquely qualified is
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Continuing the countdown to April 16 on a recent episode of the Big Biz Show,  I offered some helpful TaxMan tax tips and advice including how to avoid more IRS âred flagsâ and planning for tax laws that are set to expire in 2012. I also took opportunity to thank Sullyand Troy Hazard, one of the showâs executive producers, for the launch of the TaxMan show debuting on Biz Television. This
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I recently visited the Big Biz Show with Russ and Sully on the lead up to April 16th to give âTaxMan Tax Tipsâ on ways taxpayers can to avoid IRS âland minesâ and âred flagsâ this tax year. The current Obama administration has let its intentions be known that closing the $385 billion tax gap â (the difference between the amount of taxes reported and what the government actually collects)
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Joe Kristan reminds us once again of why you should not use the sole proprietor form of business: A scary headline:Â “Freelance? An IRS audit may be in your future.” A Tax Court case yesterday shows why a Schedule C on your return might interest the tax man. A New York City taxpayer filed a [...]
In a 2009 commencement address President Obama jokingly threatened to audit Arizona State University for not giving him an honorary degree on the grounds that his record was incomplete (he had been President for just two months). Now it appears there may have been more than a kernel of truth in the joke: Virginia Republican U.S. [...]