Tax-exempt hospital’s chairman of the board was liable for trust fund penalty – have a tax professional on your side Mike Habib, EA myIRSTaxRelief.com Stephen Verret v. U.S. (DC TX 2/14/2008) 101 AFTR 2d ¶2008-572 A district court has found that the chairman of the board of a tax-exempt hospital…
If you owe the IRS, you’re better off resolving your tax debt now. As you know, tax problems do not go away by themselves! Stop IRS wage garnishment today, stop IRS bank levy today, and release IRS tax lien today. As you can see from the statement below by Mr.…
What are your chances for being audited? IRS’s 2007 data book provides some clues Mike Habib, EA myIRSTaxRelief.com IRS has issued its annual data book, which provides statistical data on its fiscal year (FY) 2007 activities. As this article explains, the data book provides valuable information about how many tax…
IRS unveils 2008 list of notorious tax scams – the “Dirty Dozen” Mike Habib, EA myIRSTaxRelief.com IRS has recently unveiled its latest list of notorious tax scams, which it calls the “Dirty Dozen,” highlighted by Internet phishing scams and several frivolous tax arguments. New to the “Dirty Dozen” this year…
How to compare tax relief and resolution service companies? Customer…Beware! How To Keep From Getting Ripped Off? Many “Tax Negotiation” companies out there will absolutely rip you off. These unscrupulous firms will take your money regardless of whether they can help you or not. They’ll lie to you and tell…
Examination and Compliance Check Processes For Exempt Organizations Mike Habib, EA myIRSTaxRelief.com The Internal Revenue Service has a variety of tools at its disposal to make certain that tax-exempt organizations comply with federal law designed to ensure they are entitled to any tax exemption they may claim. The responsibility for…
Help Yourself by Filing Past-Due Tax Returns Mike Habib, EAmyIRSTaxRelief.com Most citizens voluntarily file their tax returns and pay their taxes. Most people explain it by saying they want to pay their fair share. Others file to get a refund, claim a credit or avoid breaking the law. There are…
Direct from the IRS Mike Habib, EA Is an Offer in Compromise Right for You? Should the IRS determine that a taxpayer is unable to pay the liability in a lump sum or through an installment agreement and has exhausted the search for other payment arrangements the last option would…
As per the IRS Offer in Compromise Mike Habib, EA If taxpayers are unable to pay a tax debt in full and an installment agreement is not an option, they may be able to take advantage of an offer in compromise (OIC). Generally, an OIC should be viewed as a…
Most common questions by corporations and other business entities on 1099 reporting requirements. Below is a direct IRS response to frequently asked question on 1099 issues. Mike Habib, EA IRS provides further guidance on Form 1099 reporting Questions on Corporations. Generally, payments to corporations are not reported on Form 1099-MISC,…