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Articles Posted in Tax Help

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The Financial Crisis Opens Opportunities for Tax Relief to Burdened Americans

Pasadena, CA March 13, 2009 – The current recession offers the best opportunity for individuals and businesses to address their tax issues and effectuate a tax settlement with the IRS. The Internal Revenue Service has announced its willingness to resolve and settle delinquent tax accounts; this will help those taxpayers…

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Tax Relief – IRS Tax Debt Relief

Tax Relief Services Filing tax returns is a necessary hassle, and everyone – even prudent individuals – are prone to errors. Tax delinquency is becoming a common problem as the harsh economy renders more people incapable of paying their taxes for various reasons. Luckily, resolving delinquent tax liabilities need not…

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Tax Relief, Tax Help

Homeowners whose debt is forgiven under Treasury’s “Making Home Affordable” initiative may be entitled to tax relief Relief for Responsible Homeowners: Treasury Announces Requirements for the Making Home Affordable Mike Habib, EA Tax Relief & Tax Problem Resolution On Mar. 4, Treasury release the first details on two programs designed…

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Payroll tax problem resolution

Fifth Circuit finds tax-exempt hospital’s chairman liable for trust fund penalty Verret v. U.S., (CA 5 2/26/2009) 103 AFTR 2d ¶2009-576 Mike Habib, EA Tax Relief & Tax Problem Resolution In an unpublished per curiam decision, the Court of Appeals for the Fifth Circuit has affirmed a district court’s finding…

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Real Estate Agent Passive Activity Losses

Licensed real estate agent’s activities count for PAL qualifying real estate professionals’ exception Agarwal, TC Summary Opinion 2009-29 Mike Habib, EA Tax Relief & Tax Problem Resolution In a Summary Opinion, the Tax Court has held that a licensed real estate agent’s activities counted for purposes of the Code Sec.…

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1099 tax problems

GAO report says noncompliance with 1099-Misc reporting requirements contributes to the tax gap [GAO-09-238]: Mike Habib, EA Tax Relief & Tax Problem Resolution A “significant problem” may exist regarding the extent to which third party payers fail to submit required Form 1099-MISC information returns, the Government Accountability Office (GAO) said…

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Innocent Spouse Tax Relief

Widow entitled to equitable spousal relief for some years Martinez, TC Memo 2008-165 Mike Habib, EA Tax Relief & Tax Problem Resolution The Tax Court held that a widow was entitled to equitable spousal relief for two of four tax years even though she had knowledge of her and her…

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Obama Business Tax Impact

The American Recovery and Reinvestment Act of 2009 (commonly referred to as the Recovery Act), which was signed into law on Feb. 17, 2009, makes a number of beneficial changes for business. Here’s a review of the more widely applicable provisions that could have an impact on you and your…

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Major Tax Changes

President’s FY 2010 budget will propose many major tax changes for businesses and individuals “A New Era of Responsibility: Renewing America‘s Promise,” the Administration’s preview of its FY 2010 budget, is available at http://www.omb.gov Mike Habib, EA Tax Relief & Tax Problem Resolution On Feb. 26, 2009, the Obama Administration…

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