Taxation & Estate Planning

Tax News

By Darrin Mish

H&R Block?s Three Recommendations to IRS

The tax preparer H&R Block has issued a press statement in which it strongly endorses the IRS move to regulate the tax preparing industry by enforcing measures such as registration of tax preparers, mandating proficiency examinations and continuing education.

The firm believes that such a move to be implemented over three years will ensure greater professionalism, integrity and accountability among the thousands of tax preparers in the country. Consequently, the taxpayers will benefit by getting more knowledgeable, skilled and ethical service from those who prepare their tax returns. As a result, there would be fewer audits and a lower rate of errors.

H&R Block, one of the world?s leading tax preparing firms for over 55 years, has said that it is eager to work with the IRS to ensure a smooth and fair implementation of these new regulations. As such, the firm has made three proposals to the IRS:

1. Allow tax preparer firms as employers to use a group registration process when validating their employee Preparer Tax Identification Numbers (PTINs). This would speed up the process of the implementation of the new regulations and make it cost-effective.

2. Broaden the definition of the tax return preparer in order to be more inclusive to those who prepare taxes under various circumstances. This move will benefit the taxpayers by giving them the confidence that any preparer they engage, paid or unpaid, will have the level of knowledge, skill and ethics acceptable to the IRS.

3. Make the effective date of Dec. 31, 2010 contingent upon adequate preparation by the IRS, including an all-out public awareness campaign, so that tax preparers and taxpayers alike understand and support the new regulations.

Doctor Fined and Jailed for Tax Evasion

No, this doctor did not hide his money in some offshore account. But Dr. Bertram R. Russell III has not been submitting his tax returns since the 1990?s. as a result, the Gladwyn 55 year old physician has been sentenced to 66 months in jail, ordered to pay $1,158,914 in restitution and fined $50,000 for dodging taxes.

After Dr. Russell was found out, his shady schemes were brought to light. Since the 1990?s he had used his employer to pay his salary amounting to millions of dollars into a company without withholding taxes. He then surreptitiously diverted the money through a series of corporations and finally arranged for his personal expenses to be paid by a processing service.

Dr. Russell and 12 other defendants were charged in 2007 and 2008 for non-payment of taxes on income amounting to $24 million and owing the IRS $4.9 million in back taxes. Nine of them pleaded guilty, while Dr. Russell and two others claimed trial. They were found guilty in 2009.

Darrin T. Mish is a veteran, nationally recognized tax attorney who has focused on providing IRS help to taxpayers for over a decade. He regularly travels the country training other attorneys, CPAs and enrolled agents on how to handle their toughest cases with the IRS. He is highly ranked among the top attorneys in the country, with an AV rating from Martindale-Hubbell and a perfect 10 on Avvo.com. Martindale-Hubbell has also honored him with a listing in their Bar Register of Preeminent Lawyers. He is a member of the American Society of IRS Problem Solvers and the Tax Freedom Institute. With clients on every continent but Antarctica, he has what it takes to solve your IRS problems no matter where you live in the world. If you would like more information about his practice and how he can help you, please call his office at (813) 229-7100 or toll free at 1-888-GET-MISH.

Tax News is a post from: IRS Tax Problem Solver Blog - IRS Help

Full post as published by IRS Problem Solver Blog on May 17, 2010 (boomark / email).