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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With the recession in its fourth year, financially distressed consumers are turning to bankruptcy as a means to wipe their financial slate clean including getting rid of their tax debt. However, what many do not realize is that not all tax issues are discharged in bankruptcy. A Bloomberg BusinessWeek article entitled Court says farmers must pay bankruptcy tax reported on a recent Supreme Court ruling that firmly stipulated there be
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If you recently discovered errors on your recent tax return, you donât have to wait another year, just amend it. I just read two separate (but related) articles on how common it is to find errors after filing that address how taxpayers can amend their returns. Combined tips inspired by articles from the Orange County Register’s How to Fix Your Messed-Up Tax Return and Wall Street Journal’s How to Amend
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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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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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Unless youâve 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, Iâm not arguing that some serious wrongdoing hasnât occurred, but this is clearly a case of an
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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 – 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: 8 days
The IRSÂ Newsroom released a bulletin outlining payment options for struggling taxpayers looking for IRS debt relief and who may be having trouble paying and filing their tax returns before the April 17 deadline. Â In a recent creditcards.com article entitled Pros and Cons of Paying the IRS with a Credit Card, I weighed in on the credit card payment method. Below are some key points to
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Countdown to tax day: 13 days
A few weeks ago, I had the pleasure of sharing tax relief tips on Midday Sunday Fox 11 with host Tony Valdez. A topic we covered was unfiled or delinquent tax returns. We deal with a lot of non-filers at our firm; the average client has between four to eleven years of unfiled tax returns and while almost all are good people, they usually have
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Happy Friday everyone! I wanted to provide some end of the week visual tax relief because Iâm sure we can all use it! Did you ever wonder what to do with those tax documents and receipts youâve been saving for all those years?  Make art, of course! (note, we do not recommend recycling files unless they are very, very old and your CPA says you can trash them).
This extraordinary art
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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 a blog post last May, I wrote about the tax lien filed against actor Nicolas Cage who owed $624,934.64 in unpaid taxes on large gifts he gave totaling $1.8 million which he is obligated to pay 35% the total value.
Fast forward to this year, a recent article by ABC News reports that Cage appears to be chipping away at his huge tax bill and has had his tax lien
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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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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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Once again, we have celebrities in the news facing tough IRS problems. Â The most recent failure to file tax case involves the sons of the late Sylvia and Joe Robinson who in the late 70âs formed the Sugar Hill Records label and created hip-hopâs first commercial hit, the Sugar Hill Gangâs âRapperâs Delight.â According to an NJ.com article entitled From ‘Rapper’s Delight’ to tariff-collector fight: sons of hip-hop pioneers face
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As we are in the tax day homestretch, I have noticed a hefty percentage of articles in the financial pages that naturally have to do with taxes. A series by Forbesâ Kelly Phillips Erb Taxes: A-Z offers insight into tax issues that many might be facing as they are tackling (or avoiding) their yearly tax obligation.
Her article L is for Levy highlighted the IRS levy and those who avoid the
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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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âHow the U.S. wound up with the income tax is the story of two wars, a Supreme Court justice on his death bed, and Donald Duckâ begins an article from NPRâs Planet Money Team entitled From Abe Lincoln to Donald Duck, the Story of the Income Tax. This interesting article illuminates the obstacles income taxes faced so that ultimately every citizen was responsible to pay their share to help the
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