As I’m sure you’re aware, on Oct. 3, 2008, the President signed into law the Emergency Economic Stabilization Act of 2008 (P.L. 110-343). Although virtually all of the press coverage of this law has concentrated on its hotly debated $700 billion financial industry bailout plan, the legislation also contains scores…
Year end planning moves that optimize enhanced election to expense business property Thanks to the Stimulus Act of 2008, most small businesses, and even moderate-sized businesses that don’t have huge capital equipment needs, may be able to claim a full Code Sec. 179 expensing deduction for the cost of business…
IRS Tax Help by Mike Habib, EA UNFILED BACK TAX RETURNS Do you have back tax returns that are Unfiled? Are you missing the records and forms necessary to file your tax returns? I have the experience and procedures to help you in reconstructing the records necessary to file your…
If It Seems Too Good to Be True, It Probably Is Tax Return Preparer Fraud Mike Habib, EA Dishonest tax return preparers can cause many problems for taxpayers who fall victim to their schemes. These scam artists make their money in a number of ways including skimming a portion of…
Tax Problem Solver – Why You Need Professional Help Tax problems come in different forms; IRS tax problems, State tax problems, and Sales tax problems. Tax authorities are constantly increasing their tax enforcement efforts through tax collection and tax audit. When taxpayers receive the dreaded tax notice that their tax…
TIGTA audit reviews effectiveness of IRS processing of Heavy Highway Vehicle Use Tax Return [Audit Report No. 2008-40-089]: The IRS should encourage more states to participate in its Alternative Proof of Payment Program for the collection of the Heavy Highway Vehicle Use Tax (also known as the Heavy Vehicle Use…
You missed the tax deadline April 15th, so now what? Mike Habib, EA myIRSTaxRelief.com Although the IRS has received a record number of returns this year, there are still thousands of people who did not file tax returns on April 15th. The reasons for this are numerous, but the IRS…
Truckers Tax Relief – Are you a truck driver with tax problems? Trucking Tax & Accounting: Back Taxes – Unfiled delinquent tax returns – IRS & State audits – Messy books / accounting If you’re a truck driver and owe the IRS, you’re better off resolving your tax debt now.…
Tax breaks for qualifying relatives are limited – what you should know Internal Legal Memorandum 200812024 Mike Habib, EAmyIRSTaxRelief.com An Internal Legal Memorandum (ILM) explains that various tax breaks are not allowed for qualifying relatives. Specifically, the ILM concludes that, apart from a dependency exemption, a taxpayer’s qualifying relative may…
IRSHas $1.2 Billion for People Who Have Not Filed a 2004 Tax Return Mike Habib, EA MyIRSTaxRelief.com IRS-2008-46,March 19, 2008 IRS WASHINGTON– Unclaimed refunds totaling approximately $1.2 billion are awaiting about 1.3 million people who failed to file a federal income tax return for 2004, the Internal Revenue Service announced…