Wednesday 22nd of November 2017 6:36:21 PM

Tax News

  • Oscar Y. gave 911 Tax Relief 5 stars.

    Friday 08th of August 2014 8:28:25 AM

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    Wow great value

    Right away when I called 911 Tax Relief I felted welcomed. The receptionist got some basic info from me and I was transferred to one of there Sr. Tax Advisers. I had no idea how much I owed because I hadn’t filed in over 10 years. He determined we needed to make a phone to the IRS and conduct an investigation together. We called the IRS and found I owed over $500,000 I was shocked. But they put at ease explaining that most of the Tax Debt expires in a couple years and they can use time against the IRS. After a couple months the IRS approved a payment plan of $100 that I will be paying for 3 years oh how and the rest of my debt will fall off. If you have a major tax issue I would give them a call ASAP.

    https://www.trustpilot.com/review/911taxrelief.com/53e4dd6000006400029d5c4b

  • Death And Taxes

    Friday 13th of June 2014 12:20:16 PM

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    “In this world nothing can be said to be certain, except death and taxes”

    Benjamin Franklin

    I, like many other good citizens from this great country of ours, left it to the very last moment to mail off this year’s tax return. As I entered the local post office and saw the long line, I once again promised myself that next year would be different. I really would make the effort to get them off before the last minute rush.

    As I moved slowly towards the front of the line, I began wondering, in this day and age is this really the best system our great and wonderful leaders can come up with. After all, we now live in a world that allows a satellite miles above us to read a number plate. We can get the worldwide web on our cell phone, download TV programs that we may have missed or just want to save onto our iPods.

    The original tax laws introduced in 1913 were a very simple affair. They began with tax brackets ranging from 1 to 7 percent – a far cry from today’s levels. The IRS tax codes, regulations and guidelines now have well over 9 million words. No wonder there’s so much confusion. Is there truly anyone who really understands this monster. Let’s put this into some form of prospective. The Declaration of Independence has a little more than 1300 words. The Constitution which has served us well for more than 200 years comes in around 5000 words and the Holy Bible makes do with less than 800,000 words.

    The Office of Management & Budget estimated in 2004 that we as a nation spent over $200 billion on compliance cost. At a time when the nations manufacturing industries, the foundation of any good economy, are all struggling against cheaper imports, shouldn’t our leaders be using that money to create “Jobs” for their citizens. Most experts agree that $200 billion would create well over 3 million jobs, which of course creates sales of consumable goods which creates more jobs and sales taxes.

    From the moment we wake up in the morning we are being hit by taxes. Everyone is at it — turn on the light (electricity taxes), run the shower (utility taxes) and my personal favorite the telephone taxes, all 6 million of them, or that’s what it seems to me every time I receive a telephone bill.

    Has the time come for a simple Flat Rate Tax, something we can ALL understand. There are many countries all over the world who have used this simple to understand and cost effective way of collecting taxes to revitalize their economies. Let’s just imagine for a moment what it would be like if we could complete our tax returns on one simple piece of paper. A Flat Rate Tax for individuals and a Flat Rate Tax for businesses. The same rules apply to all regardless of size of income. We all pay the same rate. Most of the successful countries have levied Flat Rate Taxes of less than 17%, with a stating level that protects the lower income groups. Could life ever be that simple again? Would our Leaders really want us to understand what they were up to? And then there’s those lobbyist. Oh well, it was nice while it lasted.

  • Tax Relief Legislation signed into law for Flood and wildfire victim

    Monday 19th of May 2014 3:36:09 PM

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    DENVER – The state will pay the property taxes of individuals who lost their homes in Colorado floods or wildfires last year with legislation that Gov. John Hickenlooper has signed into law.

    The Democratic governor signed the proposal Saturday in Lyons, one of the places hardest hit by flooding. He also signed four other bills dealing with last year’s disasters.

    The property-tax forgiveness bill will cost the state about $2.2 million.

    Hickenlooper also signed a proposal to distribute $5 million in grants to remove flood debris from watersheds, and a bill to exempt out-of-state disaster workers from Colorado income taxes. Two other measures signed into law earmark construction funding for flood-damaged schools, and budget $17 million in grants for repairs to damaged waste water and drinking water systems.

     

    Click HERE for full article

  • Irs Announces New Deputy Commissioner for Services and Enforcement

    Thursday 29th of August 2013 1:10:38 PM

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    Danny Werfel, IRS Acting Commissioner, announces that former IRS exec John M.  Dalrymple is now the new Deputy Commissioner for Services and Enforcement.

    “This is a critical leadership position for the IRS touching on everything from taxpayer service to tax enforcement issues,” Werfel said. “During John’s three decades at the IRS, he gained a wealth of first-hand expertise and experience in areas he will be leading. His insight and knowledge of the IRS will be an asset to help keep our core tax operations running smoothly.”

    Read More…

  • Highway Use Tax Coming Up

    Monday 26th of August 2013 11:33:50 AM

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    If you are a the owner/operator for a commercial vehicle weighing greater than 55,000 lbs then you should know by now that the Highway Use Tax is due on September 3.   This gives tax payers an additional 3 days to pay the tax.  Normally it would have been due on August 31 but since that falls on a Saturday the IRS has allowed for an additional 3 day extension with no penalty.

    The form to be used in this case is FORM 2290.  Although tax payers have the option to manually fill out the form and mail it in, the IRS encourages tax payers to submit it electronically.  Also, if you are reporting more than 25 vehicles at once it is mandatory that you do e-file.

    To read more about this story visit the IRS at http://www.irs.gov/uac/Newsroom/Reminder:-For-Most-Truckers,-Highway-Use-Tax-Return-Due-Sept.-3

  • Real Housewives of Tax Evasion

    Tuesday 30th of July 2013 12:21:16 PM

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    Seems as though celebrities can’t keep themselves away from the spotlight even if it means being indicted on 39 counts of fraud and tax evasion.

    This morning in New Jersey, ‘Real Housewives of New Jersy’ stars Teresa and Joe Giudice were set free on a combined $1Million bond after Judge Cathy Waldor indicted them on fraud charges.

    Neither Joe or Teresa are allowed to leave the country or even travel past New York and New Jersey. To ensure this Judge Cathy Waldor ordered them to give up their passports!

    Forty-one year old Teresa her 43-year-old husband are accused falsifying their income in order to obtain several loans. This occurred prior to the reality TV show in 2009.  They also falsified financial records when filing a bankruptcy.

    To read more about this story see http://www.nydailynews.com/entertainment/gossip/real-housewives-stars-court-article-1.1412468

  • Sales Tax Holidays Coming Up

    Friday 26th of July 2013 3:45:30 PM

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    Many states will soon be having their sales tax holidays. During these particular days sales tax will not be imposed on purchases. Yes, that means what you see on the sales tag is what you will pay, no more.  The best part, if you are planning on back-to-school shopping, wait until August because most states’ sale tax holiday begin then!

    Here is a list of all the states’ sales tax holiday dates. Unfortunately not all states honor a sales tax holiday! If you are lucky enough to live in one of the listed states then take advantage!

     

  • Beware of Fake IRS Websites

    Thursday 25th of July 2013 10:56:18 AM

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    With tax and identification fraud on the rise, the IRS issues warnings to be cautious of fictitious IRS websites.  Apparently there are quite a number of website wannabes that are solely in place to steal taxpayer information.  These phony websites have been known to be apart of tax scams to collect vital information such as social security numbers along with addresses and other financial information. Don’t let yourself fall victim to these scams.

    The actual website for the IRS is www.IRS.gov .  There is no .com, .net, or .gov.  Please use caution when submitting any personal information to any site.

    You can visit www.IRS.gov for more information about phishing.

  • Payroll Companies Busted!

    Wednesday 17th of July 2013 11:48:28 AM

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    Most US employers subcontract payroll and associated tax responsibilities to intermediary payers such as payroll service suppliers.  If the company that is being outsourced is trustworthy they can help employers tremendously by collecting and consigning payroll taxes (on behalf of the employer) in a judicious manner.

    Most of these third-party payroll companies generally provide good and on time service however, lately there has been a number of these payroll companies that have been prosecuted for pilfering the funds planned to pay payroll taxes.

    If you are concerned about protecting you and your business against crimes like this you may visit the IRS website for more information. You can also see a list of successfully prosecuted payroll companies here.

  • IRA Withdrawal; Taxed or Not Taxed?

    Friday 12th of July 2013 2:23:09 PM

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    Generally withdrawals from IRAs (individual retirement accounts) as well as other tax deffered retirement plans are in fact taxable by the federal government. You should also expect to pay state income taxes on these withdrawals. The only exceptions would be if you reside in one of the seven states that do not impose state income taxes. The following would be those seven states: Alaska, Florida, Nevada, South Dakota, Texas, Washington state and Wyoming.

    Luckily that is not always the case.  As reported by Market Watch of the Wall Street Journal “Some states don’t tax retirement-account withdrawals at all, and others exempt a portion from taxation, sometimes only for retirees above a certain age or with income below certain thresholds. It generally depends on the state you live in when you take the distributions, but it can get confusing.” Read the full story here.

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