Blog Profile / IRS Tax Problem Solver Blog
| URL : | http://www.getirshelp.com/irsblog/ | |
|---|---|---|
| Filed Under: | Business & Finance / Taxes | |
| Posts on Regator: | 600 | |
| Posts / Week: | 5 | |
| Archived Since: | March 8, 2011 | |
Blog Post Archive
What the IRS Cannot Seize
The IRS has many ways to collect taxes from you if you do not pay up. One of these methods is through asset or property seizure, also known as a tax levy. According to the Inland Revenue Code, the IRS can seize your property to pay off your tax debts without going to court. Show More Summary
IRS-approved Legas Tax Havens (part 2)
Yesterday, I mentioned a few legal tax havens. Of course, I’m not telling you names of countries where you can stash your cash overseas to avoid paying taxes. That would not be legal. I’m telling you about legal tax havens right here in the United States. Show More Summary
IRS-approved Legal Tax Havens (part 1)
Since Fathers’ Day is around the corner, I want to give you some good news (especially if you’re a tax-paying dad). I will share with you some IRS-approved legal tax havens. You never thought ‘legal tax haven’ and ‘IRS’ could be said with the same breath, did you? See? I told you this is good news. Show More Summary
Tax Breaks can Help Ponzi Victims
The most famous (or infamous) Ponzi scheme in recent years was the Bernard Madoff scandal where Madoff lost an estimated $65 billion in investor funds. But there are hundreds of other less known Ponzi schemes that continue to victimize innocent taxpayers just looking for investment opportunities. Show More Summary
Tax Advocacy Help
Did you know there is an independent service within the IRS that is set up to help you resolve your tax issues? It is called the Tax Advocacy Service (TAS) and is known as “your voice in the IRS”. The TAS will help you stand up for your rights as a taxpayer. Show More Summary
Form 668(Y) by the IRS
What is Form 668(Y) and what is it used for? If you don’t already know, Form 668(Y) is known as the Notice of Federal Tax Lien. When the IRS issues one to you, it means they have placed a federal lien on one or more of your properties. Show More Summary
Tips on Paying Back Taxes Even When You're Broke
If you owe the IRS money in back taxes but cannot afford to pay it all off, I’ve got some tips for you. Using these tips, you will be able to eventually pay off all your back taxes and start afresh. More on Tips on Paying Back TaxesShow More Summary
How to Avoid FATCA
FATCA is the Foreign Accounts Tax Compliance Act. It is a law created to combat tax evasion by American taxpayers with taxable assets overseas who keep them in offshore bank accounts. FATCA creates a new tax information and reporting and withholding requirement, designed to gain information about US persons rather than to raise revenue. Show More Summary
Tax Reporting Requirements for Small Businesses
If you run a small business, you now have new tax reporting requirements to fulfill. Beginning last year, the new healthcare law requires businesses to send Form 1099s for every business-to-business transaction of $600 or more for both property and service. Show More Summary
8 Charity Donation Tips from IRS (part 2)
Last week I shared 4 tips for making charity donations. Here they are again: 1. Set a budget to donate regularly 2. Choose a cause that you are passionate about 3. A tip if you’re donating money 4. A tip if you’re donating gifts in kind More...Show More Summary
8 Charity Donation Tips from IRS (part 1)
If you are thinking of donating money to a charity organization, you should bear in mind a few tips that can make the giving worthwhile. There are two main benefits in donating to charity organizations, firstly it can reduce your tax bill and secondly, it will bless someone else. Show More Summary
Procedures in IRS Audit
Tax audits are scary, aren’t they? Most people think so, and I don’t blame them. After all, knowing the IRS has you in their crosshairs would send shivers down anyone’s spine. So I’m here to help alleviate some of those fears by giving you information on the procedures take in IRS audits. Show More Summary
Tea Party Groups file Lawsuits against IRS
25 Tea Party-related groups filed a lawsuit against the IRS through the American Center for Law and Justice (ACLJ), a Washington advocacy, the biggest suit to-date over the IRS’ targeting of conservatives for heightened scrutiny. Several conservative groups, not only the Tea Party, were subject to long-drawn and improper audits of their tax cases. Show More Summary
Declaring Foreign Income (part 2) – What To Do
Yesterday, I told you about the two options for your foreign income. Both are not advisable and they were to carry on and hope you don’t get caught and make a “quiet disclosure”. Today I will share the final two options on what to do...Show More Summary
Declaring Foreign Income (part 1) – What Not to Do
If you have foreign income you have not declared, you face two possible outcomes. First, not reporting your income in your 1040 annual tax return will can result in significant fines and penalties. And secondly, if you have not been paying tax on your income earned in a foreign country you could face civil and criminal charges. Show More Summary
Overseas Bank Accounts Tax
Overseas Bank Accounts Tax The USA practices worldwide taxation which means all US citizens are to report their income earned regardless of where they earn it. This means even if you own an overseas bank account, you have to declare any taxable asset inside. Show More Summary
How Bankruptcy can Discharge Back Taxes
If you owe Uncle Sam some back taxes that you cannot afford to pay, you can fi le a bankruptcy petition that discharges your tax debt if certain requirements are met. Furthermore, there are two types of bankruptcy that will eliminate or reduce your back taxes namely Chapter 7 and Chapter 13 bankruptcy. Show More Summary
IRS Files $170m Tax Lien on Miccosukee Indians
In the latest twist in their long-drawn battle with the IRS, the Miccosukee Indians have been recently slapped with a $170 million tax lien for the tribe’s failure to report and make withholdings in their distribution of gambling profits to their members. Show More Summary
Dionne Warwick files Bankruptcy owing $10m in Back Taxes
Singer Dionne Warwick who shot to fame with unforgettable tunes like ‘Heartbreaker’, ‘I’ll Never Fall in Love Again’ and ‘That’s what Friends are For’ has filed for Chapter 7 bankruptcy saying she owes the IRS $10m in back taxes. Warwick, 72 won 5 Grammy Awards in a distinguished singing career that spanned four decades. Show More Summary
IRS Reconsideration after Assessment
IRS Reconsideration after Assessment If you or your business has undergone an audit and you are dissatisfied with the result, you can make an appeal called an IRS reconsideration. This is allowed under Internal Revenue Code § 6404 (a). Show More Summary