IRS Tax Help

Having Unfiled Tax Returns and need Help?

June 8, 2010 | Mike Habib, EA

Having Unfiled Tax Returns and need Help?

Taxpayers with unfiled tax returns can invite a lot of problems. The famous IRS has coined ten years for the collection of taxes that are owed. If the return for owed taxes was filed ten years ago, the IRS will probably use the last address known to them. The government will not be able to maintain any contact if you have already left the country. But if by any chance, you return back within the ten years limit, this can be a big problem. If you start earning or start with any job, it will be very easy for the IRS to contact you and then you are in big trouble. They not only claim the unfiled tax returns but all of the fines interest and penalties that have accrued over the original payment are also asked for. If you have somehow not at all bothered to file the tax returns, it is very important for you to have all the documents necessary to file your tax returns. Having lower income or lots of medical bills will not make any difference. It could simply lead to the conclusion that you probably are left with no money at all to pay for the mortgages or even the regular bills.

If anyone finds himself stuck in such serious circumstances it is strongly suggested that services of an experienced tax relief professional be asked. Only they will be able to guide you properly as to what is required to be done. They will be able to sort through all of the back taxes of past years and negotiate with the IRS to make some reasonable solution. The help of tax relief expert can invite many days of annoyance, severe deadlines or some difficult and confusing forms to be handled on your own. The tax relief specialist, as a professional will do his best to help you deal with the situation and come out of it successfully. He will be spending most of his time to sort out the best interest of the client and find a solution.

IRS Tax Lien

May 7, 2010 | Mike Habib, EA

Tax Lien – How to handle an IRS federal tax Lien

A tax lien is a civil action filed in court of the county where a person resides or a business operates by a government agency particularly the Internal Revenue Service. IRS is seeking a legal claim – attachment against that person’s or business’ property or money owing to taxes. In normal situation, once the claim is proved, the court will then make an order of attachment or lien against the said property or money and published on public records. But in the case of the IRS, because of its federal power and the quasi-judicial status, it need not go to court for this process and issues directly a tax lien on the tax payer’s property. This means that it announces to the world that you owe the IRS taxes for which the property is being secured. The property that maybe subject of the tax lien can either be real which is most preferred, or personal. Once there is a tax lien on record, it becomes difficult or impossible for a taxpayer to dispose of the same and it will likewise affect the taxpayer’s credit standing. For example, the taxpayer cannot sell a parcel of land or a car subject of the tax lien nor can the taxpayer secure a financing to purchase a parcel of land or a car for that matter, unless of course, you satisfy the tax lien or until final payment is made on your liabilities or in short, the tax lien is released, discharged, withdrawn or removed.

Tax Liens are effective for a period of ten years and are generally self-releasing after that period unless refiled by the IRS in which case, it shall be effective for another 10 years. The government’s tax lien on a taxpayer’s property is priority over his other creditors and thus, the government is first on the list of creditors to be satisfied in the case of attachment and liquidation.

Identity theft tax problems

April 30, 2010 | Mike Habib, EA

Up to 1.2M Tax Returns May Have Used Stolen IDs

SOURCE: WebCPA

An estimated 1.2 million tax returns filed in 2007 reported wages earned by taxpayers who used another taxpayer’s Social Security number, according to a new government report.

Back Tax Help

April 23, 2010 | Mike Habib, EA

IRS Examples of Tax Nonfiler Investigations – Fiscal Year 2010

Mike Habib, EA 877-788-2937

The following examples of Nonfiler investigations are excerpts from public record documents on file in the court records in the judicial district in which the cases were prosecuted.

How To Choose A Tax Relief Company

April 19, 2010 | Mike Habib, EA

How To Choose A Tax Relief Company

By Mike Habib, EA at 877-788-2937

Choosing a reliable and reputable tax relief company is a daunting task. The reality is that many tax problems are better handled and resolved with a tax professional who knows what he is doing. Many tax relief and tax resolution companies advertise that they can wipe out all your penalties, interest and settle your tax debt for few pennies!

IRS Problem Solver

April 17, 2010 | Mike Habib, EA

IRS Problem Solver – Solutions to tax problems

Tax relief expert and IRS Problem Solver, Mike Habib, states that taxation doesn’t have to be taxing! Your right to deal with the IRS by yourself carries the right to hire and solicit assistance and representation on your behalf. This is what is usually and commonly done, especially because dealing with the IRS is frustrating and intimidating for the normal taxpayer which is the essence of retaining an experienced IRS Problem Solver. The IRS Problem Solver can either be an Enrolled Agent, CPA or Tax Attorney. These tax professionals are commonly known IRS Problem Solvers, Tax Resolution Specialists, or Tax Relief Specialist.

Before knowing what an IRS problem solver is, we must first know what an IRS Problem is. Yes, these are matters relating to problems on taxes or problems encountered with the IRS either because you have back taxes, discovered deficiency in tax payment or Tax Debt, conflicting records of income and expenses when compared to IRS records discovered from other sources such as employers payroll record or other financial institution.

2010 Tax Help

April 12, 2010 | Mike Habib, EA

Important tax developments in the first quarter of 2010

IRS Tax Relief

While the new law tax changes in the health reform legislation and the hiring legislation were the most significant developments in the first quarter of 2010, many other tax developments may affect you, your family, and your livelihood. These other key developments in the first quarter of 2010 are summarized below. Please call us for more information about any of these developments and what steps you should implement to take advantage of favorable developments and to minimize the impact of those that are unfavorable.

Tax Debt Settlement Help

March 10, 2010 | Mike Habib, EA

Today is the first day of the rest of your life. If things haven’t been going well lately, get a fresh start with a fresh attitude. The best is yet to come! Michael Josephson, of Character Counts.

Tax debt settlement help – get reliable tax relief

If you find yourself unable to comprehend the complexities of paying off your tax debts, then you need to get tax debt settlement help from a tax expert. Tax debt relief settlement help entails finding an experienced enrolled agent who is a tax relief expert to help you come up with the best solution for your tax problem. There are many tax negotiation companies these days offering tax debt settlement help that many people are inclined to believe that these firms are tax relief scams. Truth be told, it only takes the right choice of tax debt settlement company, enrolled agent or tax advisor to help you with your tax problem.

Tax Attorney: IRS Tax Lawyer in Los Angeles California: New York NY Tax Attorney Services

March 7, 2010 | Mike Habib, EA

Tax Attorney – Get the power of attorney for tax representation

A tax relief attorney may represent taxpayers with a tax deficiency, which is the excess of the correct tax liability over the tax shown on the taxpayer’s return plus amounts previously assessed (or collected without assessment) as a tax deficiency, and minus any credits made to the taxpayer.

The IRS is mainly authorized to assess taxes to individual and business taxpayers. The tax attorney would usually get involved as the collection process begins when a notice of deficiency is sent to the taxpayer’s last known address by registered or certified mail. In each deficiency notice, the IRS must provide a description of the basis for the assessment, an identification of the amount of tax, interest and penalties assessed and the date determined to be the last day on which the taxpayer may file a petition with the Tax Court. However, the failure by the IRS to specify the last day on which to file a petition will not invalidate an otherwise valid deficiency notice if the taxpayer was not prejudiced by the omission.

Trust Taxation Rules

February 24, 2010 | Mike Habib, EA

Basic Trust Taxation Rules It is estimated that $4.8 trillion in wealth will be inherited or transferred from one generation to the next by 2015, with much of it transferred through a variety of trusts. Filings of trust returns (Form 1041) are now the third most frequently filed income tax return behind individual and corporate returns. Although the vast majority of these transfers are legal, there is widespread potential for fraud.In the last few years, the Internal Revenue Service has detected a proliferation of abusive trust tax evasion schemes. These promotions are targeted towards wealthy individuals, small business owners, and professionals such as doctors and lawyers.Abusive trust arrangements typically are promoted by the promise of such benefits as:

Reduction or elimination of income subject to tax.
Deductions for personal expenses paid by the trust.