To Avoid Tax Issues-Americans Give Up Passports

Tuesday, May 15th, 2012

There is little doubt that wealthy Americans are under scrutiny for tax collection. Nowhere is this more obvious than for those who have offshore bank accounts. More U.S. citizens living abroad are deciding to renounce their U.S. citizenship instead of facing IRS tax problems concerning new U.S. tax regulations namely the Foreign Account Tax Compliance Act (FATCA) aimed at curbing tax evasion.
The subject of renouncing citizenship made front page headlines

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Tax Expert Leads Free Webcast for Tax Practitioners

Wednesday, May 9th, 2012

Eva Rosenberg is known as the TaxMama®, giving out much needed tax information to those in trouble with the IRS and doing all of it with a mother’s touch.
Tomorrow, Wednesday May 9th at 12:00pm (Pacific) it’s time for me, the TaxMan to meet the TaxMama and deliver sound advice through a complimentary (that’s FREE) live webcast. The topic we’ll be focusing on is “IRS Practice: Overview of Collection Issues.”
If you

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Divorce, IRS tax issues and Innocent Spouse Relief

Tuesday, May 8th, 2012

Going through a divorce is difficult enough. Settling financial matters with your ex (or soon to be ex-spouse) can be tough to accomplish…but in order to avoid future IRS tax issues; necessary. To help with divorce and IRS stress, I wanted to share a Reuters article called Tax Planning for The Divorcing and the Newly Divorced provides information on the most common tax planning questions so couples can begin to

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Tax Man Gives Tax Relief Tips on Big Biz Show Blog

Thursday, May 3rd, 2012

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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Identity Theft-Proving a Tough Foe for IRS

Sunday, April 29th, 2012

Most information dispensed last week was designed to give tax help to last minute filers attempting to complete their tax returns. But news agencies including the IRS are now busy reporting on a new tax story about how rampant IRS identity theft issues are for the Agency itself. Even after the filing deadline, taxpayers are asked to remain vigilant against these tax fraudsters who continue to dupe ordinary citizens. Here

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IRS Offers Tax Help Tips-Worker Classification

Saturday, April 28th, 2012

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 don’t know the difference. Understanding this distinction can help a business owner avoid an IRS audit.
The IRS

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Back Tax Help-How Long to Keep IRS Records

Thursday, April 26th, 2012

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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A Makeover for Tax Relief Companies

Tuesday, April 17th, 2012

Unless you’ve been living in a cave for the last twelve months, you are most likely aware that the tax debt resolution industry has been dragged through the mud and just about every media outlet under the sun has jumped on the bandwagon to kick a little extra dirt on the pile. Now, I’m not arguing that some serious wrongdoing hasn’t occurred, but this is clearly a case of an

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Tax Expert-Hiring a Tax Professional on Fox News

Tuesday, April 17th, 2012

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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Tax Man-Musical IRS Tax Therapy

Saturday, April 14th, 2012

Happy Friday the 13th!
Tax Relief on a stormy day. With just four days left until tax day, I thought you procrastinators might need some musical IRS tax therapy. With a storm overhead in Southern California and tax day drawing near, posting this video seemed necessary to help keep last minute filers on track. If you put off doing your taxes, think of the song and you’ll get back to it.
Good

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Tax Relief Weekly News Round Up

Saturday, April 14th, 2012

In the homestretch – 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 week’s news: The IRS Newsroom released a bulletin with payment options designed for struggling taxpayers having trouble

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Celebrity Tax Woes: Singer Robin Thicke, Actress Paula Patton Working to Pay IRS Debt

Friday, April 13th, 2012

R&B singer Robin Thicke and his wife, actress Paula Patton, owe the Internal Revenue Service $492,583.49 for failing to pay income taxes two years in a row.
In addition to his own music, Thicke has written songs for Jennifer Hudson, Usher and Mary J. Blige. Patton has starred in a number of movies, including Idlewild, Swing Vote, Precious and Mission: Impossible — Ghost Protocol.
A representative for Thicke and Patton said the

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Talking Tax Resolution with Fox 11 Tony Valdez

Friday, April 13th, 2012

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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Senate Confirms Keneally to Fight Tax Crime

Sunday, April 8th, 2012

The Obama Administration is continuing aggressive efforts to stamp out tax crime by appointing the right people with the right experience to get the job done. A recent Bloomberg article entitled, Keneally Confirmed to Lead Justice Department Tax Division announced Senate confirmation of Kathryn Keneally as the assistant attorney general of the Justice Department’s tax division. She is expected to continue the crackdown of tax crimes such as identity theft

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Tax Help Tip-Avoid Common Tax Return Mistakes

Saturday, April 7th, 2012

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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Small Business Tax Relief-Health Care Tax Credit

Thursday, April 5th, 2012

Countdown to tax day: 13 days
Small businesses look for ways to save money and especially this time of year as they evaluate their tax credits and deductions to make sure they get the tax relief they need. Yet for those employers who provide health insurance for their employees, they may not know they are eligible to claim a healthcare tax credit that could save them money.
A March 2012 IRS bulletin

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IRS Help for Americans with Foreign Income

Wednesday, April 4th, 2012

Tax day Countdown: 15 days left until April 17. With only two weeks left, I want to encourage taxpayers to start the year off right and resolve any back tax issues they may be facing. It is doubly important if those issues include unreported foreign income and offshore accounts. A recent March IRS bulletin entitled IRS Offers Tax Tips for Taxpayers with Foreign Income reminds us that U.S. citizens and

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Tips from the Pros: How to Handle an IRS Audit

Friday, March 30th, 2012

I came across a great IRS article this week posted on NASDAQ.com in which a former CPA and current tax attorney shares the lessons he learns when he gained notification of an audit of his 2009 personal income taxes.
You see, even us tax professionals are subject to IRS audits justlike anyone else.  You would probably assume a tax attorney would not be intimidated by an IRS audit, but in

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MF Global Farmers Get Tax Relief from IRS

Thursday, March 29th, 2012

The IRS has announced it will give needed tax relief to farmers who could not properly file their taxes due to not receiving their 1099 by the March 1 deadline from the now defunct MF Global.  A Reuters article entitled IRS Waives Fines for Farmers Missing Tax Info from MF Globalreports that farmers who underreported their taxes because of missing information from MF Global will not be penalized.
Run by

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Tax Fraud Enforcement-IRS Suggests Local Police

Thursday, March 29th, 2012

The Obama Administration and the Department of Treasury are continuing their aggressive efforts to catch tax evaders.  One strategy they are considering is a collaboration between the IRS and local law enforcement agencies to help catch people committing tax fraud, tax evasion and identity theft crimes.  Canada Free Press journalist Jim Kouri wrote an article entitled IRS may draft cops to catch tax cheats, official tells Senate to report on

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