Mike Habib is not a tax attorney, but a Circular 230 licensed tax professional. What does this mean for you? Mike is a professionally licensed EA Enrolled Agent with the IRS who has over 20 years of working in the financial and tax field. There are several ways to handle your tax issues. The best way is to set an appointment and allow our office to review your situation to see what the law allows us to do. The absolute worst thing you can do is to ignore your tax issue.
What is an Enrolled Agent?
An Enrolled Agent (EA) is a Federally Authorized Tax Practitioner who has technical expertise in the field of taxation and who is empowered by the United States Department of the Treasury to represent taxpayers before all administrative levels of the Internal Revenue Service for audits, collections, and appeals.
Our tax firm is led by Mike Habib, EA, the firm’s main office is in Whittier California, we provide professional tax services help for clients throughout Southern California including Norwalk, Santa Fe Springs, Downey, Pico Rivera, Montebello, Hacienda Heights, La Habra Heights, West Covina, La Habra, Brea, Fullerton, Yorba Linda, Cerritos, La Mirada, Lakewood, Anaheim, Santa Ana, Long Beach, Compton, Torrance, Los Angeles, Pasadena, Beverly Hills, Santa Monica and throughout Los Angeles County, Orange County, Corona, San Bernardino County, Riverside County, the Inland Empire, the San Fernando Valley and the San Gabriel Valley.
Most companies in any industry can only offer 2 of the 3 vitals, price, service or quality. Companies like McDonald’s, offer price and service, car maker BMW offers quality and service, and so on. Beware of companies trying to sell you on all 3, best price, best service and best quality, that will never happen in real life.
The US Senate is slated to take up competing tax relief bills, S. 3412, the Middle Class Tax Cut Act, which is supported by the Democrats, and S. 3413, the Tax Hike Prevention Act, supported by the Republicans.
The FTB is implementing an automated dialer to make outbound collection calls to individual income-tax taxpayers in an effort to prevent collection actions such as tax liens, bank levies, and wage garnishments. The state FTB tax agency will implement a similar system for business entities in September 2012.
The CA FTB is contacting more than 100,000 California business entities that have not filed their 2010 state income tax returns. (FTB News Release (June 14, 2012)) When a business is contacted, they will have 30 days to either file or show why no return is due. Otherwise, the FTB will assess tax based on the information reported to them from other agencies.
The CA FTB state tax agency has begun using information obtained through the Financial Institution Record Match (FIRM) program from banks and other financial institutions to find assets and collect on unpaid delinquent tax debts from California taxpayers. If you have outstanding FTB tax liabilities, your bank accounts may be levied by the FTB, and your wages could be garnished and levied.
The Internal Revenue Service today announced another expansion of its “Fresh Start” initiative by offering more flexible terms to its Offer in Compromise (OIC) program that will enable some of the most financially distressed taxpayers to clear up their tax problems and in many cases more quickly than in the past.
“This phase of Fresh Start will assist some taxpayers who have faced the most financial hardship in recent years,” said IRS Commissioner Doug Shulman. “It is part of our multiyear effort to help taxpayers who are struggling to make ends meet.”
A Vermont insurance company received payments from an Oklahoma taxpayer for intellectual property consisting of trademarks and operating practices did not create sufficient nexus to subject it to the Oregon corporation excise (income) tax, the Oklahoma Supreme Court has held. The insurance company was established under the laws of Vermont by an international restaurant corporation, to insure various risks of the corporation and its affiliates.
Not many people want to know or meet an IRS Tax Debt Lawyer or Enrolled Agent if given a choice. However, in times of need, a tax lawyer or an enrolled agent may be the only ones who can bail you out of serious tax trouble.