Tax Relief Blog
Abusive Tax Evasion Schemes
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Examples of Abusive Tax Scheme Investigations – Fiscal Year 2009
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CA New Home Tax Credit
CA New Home Tax Credit Going Fast
Sacramento – The Franchise Tax Board (FTB) announced today that the $100 million allocated by the state in new home tax credits will soon be gone.
As of June 17, 2009, FTB had received more than 9,800 applications claiming nearly $95 million. Because some of these applications are duplicates, revisions, or invalid, FTB plans to accept 12,000 applications. This will ensure enough valid applications will be available to allocate the full $100 million credit. However, FTB will only issue approved credit certificates until the $100 million is exhausted.
Enrolled Agent vs. Tax Attorney
Enrolled Agent vs. Tax Attorney / Tax Lawyer
Dealing with tax problems entails a good amount of hard work and stress, which is why it is not advisable to deal with such problems on your own. It requires that you have a fair understanding not only of the taxation process but also of how the IRS operates. Trying to gain such understanding is quite stressful in itself; much more is attempting to apply it to resolve your tax issues with the Internal Revenue Service and get tax relief. The sheer complexity involved in taxation and tax problems is what drives a lot of individual taxpayers and businessmen to approach a tax lawyer for assistance. While it is commendable that these people accept the need to seek assistance with their tax problems, they don’t always ask for help from the right tax relief professional. A tax attorney is not always the best person to seek assistance from when it comes to tax problems. Since it’s not a legal problem, but a tax problem, the IRS and State simply wants to know when your delinquent tax returns are going to be filed and when & how your taxes are going to be paid. What you need is a professional advocate who has the knowledge of the enforcement and collection procedures of the IRS, the State Franchise Tax Board and who has the specialized experience to effectively resolve these tax issues in your best interest.
Profile of the tax attorney
Tax Relief for Truckers – Truck Drivers
Trucking Tax & Accounting: Back Taxes – Unfiled delinquent tax returns – IRS & State audits – Messy books / accounting
In face of tighter enforcement measures that the IRS is expected to use to strengthen its tax collection and monitoring policies, tax problems have become, if possibly, more stressful to deal with. Among truck drivers, in particular, the need to immediately address tax problems such as back taxes, unfiled delinquent tax returns, is more pressing than it has been in previous years. However, given the present economic climate, dealing with tax problems can prove hard for truckers, truck drivers. This is where tax relief for truck drivers plays an integral role. The IRS provides tax relief for truckers, provided that they certain law mandated qualifications and criteria.
Tax Relief for Realtors
It is very important for real estate professionals to act on tax problems like excessive tax debt, unfiled returns, back taxes, and self employment tax before these aggravate into expensive and potentially damaging problems. Tax problems the likes of those enumerated above can seriously hurt an individual or a company’s reputation and record, especially with the Internal Revenue Service or IRS. So before these tax problems turn to costly taxing nightmares, it is essential that you seek tax relief allotted for realtors, real estate professionals, mortgage brokers, and loan officers.
The real estate industry and the IRS
Cell phone taxability?
Make any personal calls on that company cell phone? That’s a “fringe benefit” of your job, according to a 20-year-old law, and the IRS is looking to collect.
The Wall Street Journal reports that the IRS wants to step up enforcement of the 1989 law, which holds that employees who make personal calls on a company cell phone are getting a “fringe benefit” from their employers–a benefit that should count as taxable income.
The law has been “long ignored” by employees and employers alike, according to the Journal, namely because most companies don’t have the time or the inclination to tabulate exactly how many minutes you’re on the phone with clients versus how often you’re gabbing with friends and family.
Payroll tax responsibility
Many employers outsource some of their payroll and related tax duties to third-party payroll service providers. They can help assure filing deadlines and deposit requirements are met and greatly streamline business operations. Some of the services they provide are:
- Administering payroll and employment taxes on behalf of the employer, where the employer provides the funds initially to the third-party.
- Reporting, collecting and depositing employment taxes with state and federal authorities.
Employers who outsource some or all of their payroll responsibilities should consider the following:
Payroll tax fraud
ORLANDO MAN SENTENCED FOR $181 MILLION PAYROLL-TAX FRAUD
Orlando, Florida – United States Attorney A. Brian Albritton announces that U.S. District Judge John Antoon, II, today sentenced Frank L. Amodeo (age 48, of Orlando) to 22 years and six months in federal prison for conspiring to commit wire fraud, to obstruct an agency proceeding, and to impede the Internal Revenue Service (IRS); failing to remit payroll taxes; and obstructing of an agency proceeding. The Court ordered Amodeo to forfeit more than $1 million seized from various accounts, three homes, several luxury automobiles, commercial real estate, a Lear Jet and his corporations. The Court also imposed a money judgment of approximately $181 million, which is amount of the stolen payroll tax funds. Amodeo had pleaded guilty on September 23, 2008.
According to court documents, Amodeo, and his co-conspirators controlled several companies, including multiple employee leasing companies or PEOs (professional employee organizations). They conspired to absolve themselves and the companies they controlled of the responsibility for existing payroll tax liabilities and to divert payroll tax funds paid by the PEO clients to the PEOs that Amodeo and his co-conspirators controlled.
Special Tax Break
Special Tax Break on New Car Purchases Available in States With No Sales Tax
The Internal Revenue Service and Treasury Department today announced that a tax break for the purchase of new motor vehicles is available in states that do not have a state sales tax. Under the American Recovery and Reinvestment Act of 2009, taxpayers who buy a new motor vehicle this year are entitled to deduct state or local sales or excise taxes paid on the purchase.
The IRS and Treasury have determined that purchases made in states without a sales tax — such as Alaska, Delaware, Hawaii, Montana, New Hampshire and Oregon — can also qualify for the deduction.
