Sunday 23rd of July 2017 11:33:52 AM

Posts Tagged ‘irs tax debt help’

  • 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.

  • IRS Cancels Furlough Day

    Monday 22nd of July 2013 10:47:57 AM

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    Finally some good news for IRS employees; The IRS will be cancelling the previously scheduled furlough day for July 22. The reason for the cancelled furlough day is because the continued effort to cut costs has been successful.

    Consequentially, all IRS offices including help lines will be open as regularly scheduled and all IRS employees will be paid for July 22, 2013.  This includes the employees of the Taxpayer Advocate Service.

    The IRS urges to use their online services to answer common question such as “Where is my Refund?”

    For more information about this and other IRS news you may visit http://www.irs.gov/News-&-Events

  • “First Lady” of Tax Fraud Gets Busted!!

    Thursday 18th of July 2013 4:36:47 PM

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    Self proclaimed “First Lady” of tax fraud Rashia Wilson, 27 years old, of Tampa Florida taunted the IRS for years about openly stealing close to $3 Million when in fact its actually about $20 million.  Rashia used social media to show off the piles of money that she was proud to say she took from the IRS.

    She taunted the the IRS and “dared” them to get her.  Well, her luck came to an end because the IRS did catch up with her.  Now Rashia Wilson has been sentenced 21 years in prison for wire fraud and aggravated identity theft, both crimes rooted from tax fraud.

    To read the full story see The Tampa Bay Times.

     

  • 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.

  • Tips for Common Tax Issues

    Monday 08th of July 2013 3:29:18 PM

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    • Did you miss the April 15 deadline to turn in your taxes?  The IRS has all kinds of tips in the event that this occurs, you can read more HERE.
    • If you are looking for Summer Tax Tips you can visit the IRS website or click here.
    • Do you feel like you are victim of identity theft?  The IRS can help you here
    • If you need help filing your US taxes while traveling abroad please click here.
    • Forgot your Electronic Filing Pin? Get help here.

  • I’m Not a Player, I Just Don’t Pay My Taxes A Lot!

    Monday 24th of June 2013 11:25:02 AM

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    Rapper “Fat Joe” is facing two years in prison in addition to a hefty $100K fine for not paying federal taxes on unfiled income.  He plead guilty in a federal court in Newark last Thursday.  “Fat Joe” failed to file his income taxes on more than $3 million of earnings.  In 2007 he failed to file a reported $1.3 million in income and royalties then again in 2008 with $1.4 million, and also in 2009 and 2010 there is about $1 million of unfiled income taxes.

    According to Assistant U.S. Attorney Joseph Mack the tax loss to the US government was just over $700,000. “Fat Joe’s” attorney, Jeffrey Lichtman of New York, insisted that there was no intent to mislead the IRS. Lichtman said “This is a guy who had been paying his taxes for years when he was making a significant amount of money… He changed accountants and errors were made. We were in the process of addressing this when we received notice that there was a criminal investigation.”  Lichtman also insisted that this is not a tax evasion crime instead simply failure to file tax returns.

  • Electronic Tax Administration Advisory Committee Delivers Annual Report

    Thursday 20th of June 2013 2:54:08 PM

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    In a meeting today The Electronic Tax Administration Advisory Committee (ETAAC) has made public its 2013 Annual Report to Congress.  According to the IRS the report highlights 5 groups of recommendations on issues regarding the electronic tax administration.

    Highlights of the report include suggestions on the following key results:

    • Support standards for safety measures, privacy and fraud deterrence
    • Provide incentives for e-filing employment tax returns
    • Expand access to data and online tools
    • Leverage relationships in the electronic filing community
    • Fund CADE 2 and the 1040 Modernized e-file (MeF) programs

    See the full report here.

  • Gifts Can Be Taxed, Too!

    Wednesday 19th of June 2013 9:40:30 AM

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    Planning on giving someone a gift? Expect the IRS to impose a gift tax.

    The gift tax is a tax on the reassignment of assets from one person to another, granted the giver does not receive anything in return for the gift. The gift tax applies regardless of the donor intending the reassignment to be a gift or not.

    Gift tax can also be imposed for the transfer of property.  A property gift would also include money or the income generated from the property in question.  Again, this only applies if the giver does not receive anything in return for the gift of the property.

    Keep in mind that if you sell something at below its entire value or if you a loaning out money at a reduced or no interest loan, this may also qualify as a gift.

    In any and all gift tax occurrences the donor is who pays the gift tax. For more information on the gift tax please visit the IRS website.