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Taxation & Estate Planning

IRS Problem Solver Blog

IRS Problems and how to solve them
By Darrin T. Mish, Esq.

Post Frequency: 7.9/day

Last Entry: March 30, 2011 at 14:49:38

Wesley Snipes' Tax Advisor Gets More Prison Time

Posted on September 16, 2010
Eddie Ray Kahn, the so-called tax expert who advised actor Wesley Snipes and 4,000 other clients on how to avoid paying taxes was sentenced to an another 20 years behind bars in addition to the 10 years originally meted to him as a co-defendant in Snipes? 2008 trial...

IRS Confirms Guidices did Not File Returns

Posted on September 15, 2010
The court appointed trustee in the bankruptcy filing of Housewives actress Teresa Guidice and her husband Joe filed papers that allege the Guidices ?knowingly and fraudulently? made ?false oaths? or ?accounts? when filing their original bankruptcy petition back in October of 2009 and went on to make additional false ?accounts? on amendments filed after the original petition while under oath during subsequent hearings...

$23.5 Billion in Homebuyer Tax Credit and Related Loans Paid by IRS

Posted on September 14, 2010
The Homebuyer Tax Credit is one of the government?s incentives under the American Reinvestment and Recovery Act (ARRA) 2009 aimed at stimulating the flagging housing industry. First time homebuyers who qualify receive a generous tax credit...

6 Facts about the American Opportunity Tax Credit

Posted on September 13, 2010
The American Opportunity Tax Credit, which is part of the American Recovery and Reinvestment Act (ARRA) 2009, is available through to December 3. This particular tax credit is especially useful for those parents who have college-going children and need ways to reduce their burden of having to pay college fees...

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The Definition of IRS Notice CP-297A

Posted on September 12, 2010
When you receive a CP-297A notice it means that the IRS is notifying you of a missed tax payment that you have been instructed to pay in a previous tax letter. As a result of that, the IRS has issued a tax levy on you. This tax levy gives the IRS the authority to take your money from government sources such as social security payments, employment sources such as your salary checks and your bank savings accounts...

Bay Area Clinic Under IRS Scrutiny

Posted on September 10, 2010
Recently, a non-profit, Planned Parenthood Golden Gate changed its name to Golden Gate Community Health because all its Bay area clinics were expelled as an affiliate from the national Planned Parenthood Organization due to administrative and financial problems...

H&R Block Records Lower Losses

Posted on September 10, 2010
The nation?s largest tax preparer, H&R Block Inc. reported lower losses by 2% for its first quarter in the fiscal year ended July 31, 2010. In the midst of a flurry of cost cutting measures, the Kansas City, Missouri based tax preparer posted a net loss of $130...

IRS Auction of Cowboys Tickets Nets $241,000

Posted on September 09, 2010
In an IRS auction, six prime Dallas Cowboys tickets together with the rights to purchase future tickets were sold to a ticket broker based in Dallas for $241,000. The auction was held to pay off debts by Lending.com amounting to $4.5 million...

Crisis Commission Argues on IRS Assistance for Wachovia

Posted on September 08, 2010
The Financial Crisis Commission has put forth its argument that Wells Fargo & Co?s purchase of Wachovia was with government assistance despite the widely held belief that it was not. The IRS had changed the tax code just after the Federal Deposit Insurance Corporation (FDIC) announced it would provide open-bank assistance to Wachovia...

Two IRS Debtors that might Raise Eyebrows

Posted on September 07, 2010
Here is the story of two individuals who owe tax money to the government. One or both of the stories may irk you, surprise you, interest you or it might not bother you at all, but both are true. The first has to do with the proposed mosque to be built at ground zero in New York City...

Small Businesses Unhappy Over New IRS Ruling

Posted on September 06, 2010
The IRS requirement for more filing for businesses had continued to gain resistance from small businesses. Beginning from 2012, all businesses have to file Forms 1099 for payments worth more than $600 a year to every contractor and vendor of goods and services...

Christian School Faces Tax and Foreclosure Problems

Posted on September 05, 2010
The Summit Christian School in Palm Beach County is facing a foreclosure on its property by a credit union to who the school owes $9.3 million. Circuit Judge Meenu Sasser will hear the request by the credit union to foreclose the premises on October 5...

IRS presses Large Corporations for Greater Disclosure

Posted on September 04, 2010
It is a proposed revision of a current tax practice that has got executives of large corporations sweating under the collar. Every year, the current practice is for large corporations to detail to the IRS any tax amounts they may have avoided paying due to questionable accounting methods...

Real Estate Developers Fail to Report $25 million to IRS

Posted on September 03, 2010
Three real estate developers, including a former Senate candidate neglected to report nearly $25 million in income they derived from three Vancouver, Washington shopping center projects. The three are Bellevue developer Winston Bontrager, his girlfriend, Pauline Anderson, and his son, 2004 Republican state Senate candidate Jason Bontrager...

10 Tips on IRS Bills by IRS Attorney near 33611 part 2

Posted on September 02, 2010
Today we continue with our article on 10 tips on handling IRS bills. We consider that happens if your case is not resolved in the IRS Appeals Office. 5. Respond to a Notice of Deficiency Read more on 10 Tips on IRS Bills by IRS Attorney near 33611 part 2… 10 Tips on IRS Bills by IRS Attorney near 33611 part 2 is a post from: IRS Tax Problem Solver Blog - IRS Help 10 Tips on IRS Bills by IRS Attorney near 33611 part 2 is a post from: IRS Tax Problem Solver Blog - IRS Help

10 Tips on IRS Bills by IRS Attorney near 33611 part 1

Posted on September 01, 2010
10 Tips on IRS Bills by IRS Attorney Near 33611 (part 1) It is not uncommon to receive a federal income tax bill from the IRS. You are entitled to contest the bill if you feel that it is in error. When you want to contest a bill, you need to pay close attention to procedures and deadlines...

Suit Against UBS to be Dropped by IRS

Posted on August 31, 2010
In the ongoing tussle between the IRS and UBS bank of Switzerland over the identities of thousands of suspected tax evaders holding UBS bank accounts, the Swiss bank has recently released details of 2,000 such account holders thus far...

5 IRS Tips for Newlyweds

Posted on August 30, 2010
It is not uncommon for those who are newly married to be issued a letter by the IRS when they file their taxes after their marriage. Receiving a letter from the IRS after you have filed your taxes generally means that they may have found something amiss with your tax returns...

Who's Going to Jail for Tax Offences

Posted on August 29, 2010
Woman Goes to Jail for Filing False Claims A woman from College Park, Ga. was sentenced to 10 years in prison after she pleaded guilty in May to bank fraud and filing false claims with the IRS. Cynthia Annette Elliot was part of a scheme to steal income tax refund claims and economic stimulus checks belonging to others by fraudulently filing claims with the IRS...

10 Things You should know about Identity Theft and the IRS

Posted on August 28, 2010
Identity theft is a crime where someone uses your personal information such as social security number, bank account number etc to steal from you. As far as identity theft pertaining to your taxes, for example, identity thieves may use your details to obtain a tax refund...

RALs Harder to Come by with IRS Ruling

Posted on August 27, 2010
The IRS has announced that from next year onwards, they will no longer provide taxpayer debt positions to tax preparers and financial institutions, bringing an end to a practice carried out by the IRS since the 1990s. The tax preparers and banks use such information to disburse Refund Anticipated Loans (RALs) which are short-term loans given to taxpayers while they await their tax refunds...

IRS Set to Implement New Process for Tax Preparers

Posted on August 26, 2010
By the middle of next month, the IRS will begin implementation of a new online application process for paid tax preparers. Under this new process, all individuals and companies who are paid for preparing federal taxes after December 31 must be registered with a Preparer Tax Identification Number (PTIN)...

Small Businesses Unhappy with Forthcoming IRS Regulation

Posted on August 26, 2010
Starting from 2012, the IRS regulations for Form 1099 will undergo a drastic change. Up to now, businesses are required to file a Form 1099 for every independent contractor they do business with. But with the new regulations all businesses will have to submit a Form 1099 for every purchase of goods or services from all sources worth over $600 a year, including those like office stationary purchases and vehicle maintenance...

IRS News in Brief

Posted on August 25, 2010
IRS Files Lien on Naomi Campbell The IRS has slapped a $63,487 lien on Naomi Campbell in the New York City Registrar?s Office last month for taxes assessed in 2009. Campbell, who testified at the Hague in Liberian warlord Charles Taylor?s trial that she received some ?dirty looking stones? from him in 1997 must now wish had she kept some of those blood diamonds to pay her tax debts...

IRS Urged to Investigate Oklahoma Pastor

Posted on August 24, 2010
The Americans United for Separation of Church and State has urged the IRS to investigate Pastor Paul Blair for alleged violation of the federal law that prohibits any church from endorsing or opposing a political candidate in elective public office...

IRS to End Disclosure of Taxpayer Debt Information

Posted on August 15, 2010
The 10 year practice where the IRS discloses how much taxpayers owe in back taxes and other debts will end soon. The IRS has been revealing this information on taxpayers, called tax indicators, to tax preparers upon receiving tax returns filed electronically...

Why Bush Tax Cuts Should be allowed to Expire

Posted on August 14, 2010
Nobody likes to pay taxes yet we all know that paying taxes is part of modern life. As such, everyone generally rejoiced when tax cuts were implemented during the Bush era starting from the early 2000s. The tax cuts at that time were enforced to give a semblance of a balanced budget...

New Tax Law Gives Nonprofits More Paperwork

Posted on August 13, 2010
The 2006 Pension Protection Act has made it mandatory for all nonprofit organizations to file annual returns to the IRS to keep their tax-free status. Failure to do so for 3 consecutive years will result in the revocation of their status as nonprofit organizations with tax-free privileges, which in turn means that all donations made to them would not qualify for tax deduction...

Danger of Tax-exempt Status Revocation for 28 Non-profits

Posted on August 12, 2010
A total of 28 non-profit organizations stand in danger of losing their tax-exempt status if they do not file with the IRS by October 15. IRS officials say they have not heard from these non-profit organizations for 3 consecutive years...

Guess Who Owes the IRS

Posted on August 11, 2010
Even the rich and famous does not escape the taxman. Here are a few cases where the IRS is looking to collect taxes from some familiar faces: Alicia Keys? new husband, hip hop producer Swizz Beatz reportedly owes Uncle Sam about $2.4 million...

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