“I’m telling on you.” I used to say that to my older brother whenever he did something I knew my parents would disapprove of. I was eight years old then. I didn’t get any monetary reward for it, though. Just the vindictive satisfaction a younger brother gets when he sees his older brother – the one [...]
Tags: Announcements
You’ve heard me say in my posts titled “Pennies on the Dollar? . . . Buyer Beware” and “Offers In Compromise: Calculating Reasonable Collection Potential” that there are many so-called tax resolution companies that engage in misleading and in some cases outright fraudulent tactics. Now, TaxProf blog reports that one of the worst offenders, J.K. [...]
Tags: Offers in Compromise · Tax Collections
We frequently see corporations that pay the net pay to their employees and fail to make the required deposit of IRS payroll taxes in order to pay vendors, lessors, and subcontractors. Usually, the corporation is well-intentioned and truly believes that it will be able to pay back the unpaid deposits in a relatively short period [...]
Tags: Payroll Taxes
Last week the IRS National Taxpayer Advocate, Nina Olson, issued her annual report to Congress. The report raises serious concerns about IRS continued use of overly aggressive tax collection practices. These concerns had been addressed by Ms. Olson in her 2006 and 2007 annual reports and still have not been cured. Here is a snippet of what [...]
Tags: Tax Collections · Taxpayer Advocate · Taxpayer Rights
Taxpayers who are indebteded to the IRS may qualify for an offer in compromise. There are three types of offers. Offers based on doubt as to collectibility, Offers based on doubt as to liability; and Offers based on effective tax administration. This article covers the most common offer filed: Offers based on doubt as to collectibility. The [...]
Tags: Offers in Compromise
Taxpayers have the following basic rights. If an IRS employee attempts to deprive you of any one of these rights, respectfully point it out to him or her and ask to speak with a supervisor. o Right to be informed (including adequate legal and procedural guidance and information about taxpayer rights); o Right to be [...]
Tags: Taxpayer Rights
The standard mileage rate for all business miles has increased to 58.5 cents a mile. Effective for transportation expenses paid or incurred on or after July 1, 2008. (IR-2008-82)) The rate for charitable miles remains at 14 cents a mile. The rate has decreased to 27 cents per mile when computing deductible medical or moving expenses. [...]
Tags: Deductible Expenses
