Tips for Staying out of Tax Debt You probably hear it all the time: “New Year, New You.” If you’re on the verge of becoming ridden with back tax debt, then 2015 is the year you can become and stay tax debt free. This new year is the perfect time to alter and change your… Continue Reading
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How Long Does the IRS Have to Go After You?
IRS Statute of Limitations Vary If you’re hiding on significant assets that aren’t reported to the government, or are hiding a nice amount of income from the feds, you might be up at night wondering how long you have to play hide and seek with your income and the IRS. It’s a sure thing that… Continue Reading
How Large is the IRS’s Criminal Division?
IRS Conviction Rate Higher Than 90%! The IRS has a reputation for being the most aggressive collection agency the world has ever known. And part of that reputation is due to its agents who pursue criminal convictions for tax delinquents and back tax debtors. How good is the IRS at getting criminal convictions for delinquent… Continue Reading
When a CPA Just Won’t Cut It
Hiring a Tax Attorney a Must at Key Moments If your back tax debt is big enough, the IRS may come knocking at your door threatening to take you to court. Most people think that the one person that’s the most intimate with their taxes – their CPA – should be their point person when… Continue Reading
What If I Need More Time to Pay My Tax Bill?
How Can I Get Extra Time to Pay? Sometimes after doing the math and calculating our income, deductions, and credits, we get a tax bill instead of a much-wanted tax return. But if the tax bill is bigger than you expected and you need more time to pay, getting more time to pay it off… Continue Reading
Audits: IRS Agents’ Common Complaints
Common Complaints of IRS Agents- And How You Can Use them To Your Advantage 1. “You Never Call Me!” IRS Agents are required to make diligent, scheduled attempts to reach you to set up an appointment or get necessary information for your audit. If you hinder them from doing their job, you are creating a… Continue Reading
Top 5 Audit Facts – 2
Now that we have covered the basics in Top Five Audit Facts Part 1, we can get to more advanced issues that most people don’t know about. If you didn’t read Part 1, go back and read it now! This is important stuff! 1. Clearly Define Your Business and Business Activities as Ordinary and Necessary:… Continue Reading
Estate Taxes
Have you recently lost a loved one who left you a large inheritance? Did you know that depending on the year and the amount inherited, the IRS can tax you up to 45% of the Estate’s value on that income? Have you already liquidated half of the Estate just to pay off the taxes? Blue… Continue Reading
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