Tax Relief BlogIRS Disaster Tax Relief
Added Leon, Levy and Wakulla counties, 5/12/09
Added Dixie and Gilchrist counties, 5/4/09
Articles Posted in Tax Help
UBS Client Charged – First to Plead Guilty
UBS CLIENT PLEADS GUILTY TO FILING FALSE TAX RETURN HID ASSETS WORTH $3 MILLION IN SECRET SWISS BANK ACCOUNT
Ft. Lauderdale Yacht Broker Second UBS Client Charged, First to Plead Guilty
WASHINGTON – Robert Moran, of Lighthouse Point, Fla., pleaded guilty on criminal information charging him with filing a false income tax return, the Justice Department and Internal Revenue Service (IRS) announced. Moran appeared today before Judge James I. Cohn in Ft. Lauderdale and accepted responsibility for concealing more than $3 million in assets in a secret bank account at UBS in Switzerland.
Tax Preparer Fraud – Beware!
U.S. JUDGE BARS TWO CONNECTICUT RESIDENTS FROM PREPARING FEDERAL TAX RETURNS FOR OTHERS
Father and Daughter Prepared Tax Returns That Falsified and Inflated Deductions for Customers
WASHINGTON – A federal district court in Connecticut has permanently barred Wethersfield residents Deowraj Buddhu and his daughter, Sunita Buddhu, from preparing federal tax returns for others. Mr. Buddhu and/or Ms. Buddhu have operated businesses that provide tax return preparation services under the names Paradise Consulting, Phoenix Consulting and Lotus Consulting, in Hartford, and Wethersfield, Connecticut.
Tax Evasion? Resolve!
TAX SHELTER PROMOTER PLEADS GUILTY TO CONSPIRING TO IMPEDE AND IMPAIR THE IRS
WASHINGTON – Anthony G. Merlo, a former resident of Fort Worth, Texas, and the U.S. Virgin Islands, pleaded guilty to conspiracy to defraud the United States, the Justice Department and Internal Revenue Service (IRS) announced. Merlo appeared before Magistrate Judge Ellen S. Carmody in Grand Rapids, Mich.
In March 2008, Merlo and five others were indicted by a grand jury in Grand Rapids and charged with conspiring to defraud the United States by promoting, marketing, selling and administering fraudulent tax shelters called loss-of-income insurance policies. These policies were issued through Security Trust Insurance Co., a now-defunct company formerly known as Caduceus Life Insurance Co., that was located in the U.S. Virgin Islands.
IRS Tax Audits on the Rise
IRS is hiring hundreds of Internal Revenue Agents
The IRS is hiring hundreds of Internal Revenue Agents – It’s a great time to join the agency!
The IRS has begun a major hiring effort to fill hundreds of critical jobs nationwide. Most of these jobs are for internal revenue agent positions (look for series number 0512). At least 30 hours of college-level accounting coursework is required for revenue agent jobs.
IRS Dirty Dozen
IRS unveils 2009 list of notorious tax scams–the “Dirty Dozen” IR 2009-41
Mike Habib, EA Tax Relief & Tax Problem Resolution Services
IRS has unveiled its latest list of notorious tax scams, which it calls the “Dirty Dozen,” highlighted by schemes involving phishing, hiding income offshore and false claims for refunds. IRS warns that these tax schemes are illegal and can lead to problems for both scam artists and taxpayers who risk significant penalties, interest and possible criminal prosecution.
Settle with IRS
Settle with IRS and resolve your tax problems by contacting the tax firm of Mike Habib, EA at 877-788-2937 or online at myirstaxrelief.com
As reported by Intuit, maker of TurboTax.
1031 Tax Problem
Ocmulgee Fields, Inc. (2009) 132 TC No. 6
IRS Tax Help for Expats
Adverse conditions may allow certain U.S. citizens to claim foreign earned income and housing cost exclusions [Rev Proc 2009-22]:
Individuals who were forced to leave certain foreign countries in 2008 because of adverse conditions may still qualify as bona fide residents of that country for purposes of the IRC §911 foreign income tax exclusion. Under IRC §911(a), qualified individuals may exclude foreign earned income and housing expenses from their gross income for tax purposes.
To qualify for the exclusion, an individual must prove that he has lived in a foreign country for at least 330 full days during any period of 12 consecutive months. However, if instances of war, civil unrest, or other adverse conditions force an individual to leave a country before the 330-day requirement is met, that individual can still qualify for the exclusion if he can prove that he would have otherwise stayed in the country.
Subsidiary employment tax problem
Subsidiary’s employment tax liability cannot be collected from the parent corporation [Chief Counsel Advice 200913052]:
The IRS Office of Chief Council has expressed its opinion in a new Chief Council Advice (CCA) that the employment tax liability of a subsidiary corporation in a consolidated group cannot be collected from the parent corporation.
A “subsidiary” is defined under Reg. § 1.1502-1(c) as a corporation that is a member of a consolidated group, but is not the common parent of the group. In a consolidated group, (1) the parent corporation must directly own at least 80% of the total voting power and 80% of the total value of the stock in at least one other “includible” corporation in the group, and (2) one or more of the other includible corporations in the group must directly own at least 80% of the stock (by vote or value) in each of the remaining includible corporations.
