Offer-in-Compromise Stops Collection Enforcement
The two most practical reasons for filing an Offer-in-Compromise (OIC) with IRS are: To prevent further IRS collections from occurring (i.e. wage garnishments, bank accounts, seizures) To limit the amount of out-of-pocket expense to satisfy the tax debt. See, everyone knows that you can make an offer to IRS to pay a lesser amount. But…
Tax Evasion – Advising Tax Clients
Business tax clients often have secrets. When they become afraid, those same clients will share their secrets. Most serious tax preparers at some point receive a client’s questions about tax evasion. Tax return preparers are rarely charged with this crime related to their clients. However, tax professionals have a unique ability to advise their clients’…
A La Industria De La Marihuana Medicinal Le Imponen Un 100% De Impuestos A Sus Ganancias
Marihuana Medicinal (o Cannabis, o MM). Esto no es algo nuevo, pero últimamente es algo GRANDE. Los productores, cultivadores y dispensadores esperan obtener ganancias enormes de la venta de los productos de cannabis. Al igual que cualquier otro negocio legal, se espera que los distribuidores paguen una porción justa de impuestos por sus ganancias. Una…
Employee or Independent Contractor Audit Selection
Employee vs Independent Contractor Audits This company represents trucking construction trades, and other small to mid-sized businesses. In IRS examinations, among the top 3 most common areas we see for audit is the legal question of whether workers/drivers are independent contractors, or simply employees. Employees’ wages are reported to the federal and state governments on…
IRS Audits for Trucking Companies
Can an IRS tax examination mean big trouble for trucking and transport businesses? What does the government want to see? Why did they pick your company? It seems that every year, I represent at least one major trucking company in an IRS or state tax audit. I must admit, some of the harshest results can…
How to Setup an IRS Payment Plan
If you owe less than $25,000 to the IRS, you maybe can handle this without outside help. There. I said it. IRS has established a simplified collection process for relatively small tax liabilities. In other words, for back taxes up $25,000, there is a do-it-yourself process to help you create an installment agreement with IRS….
Worst IRS Nightmare … Ever!
Before you read another paragraph here, I must first explain: This is an embarrassingly true story of how dealing with the IRS Criminal Investigations can affect—no, TRANSFORM—a person. There is always a cost, but you have to protect what matters most. What’s The Worst That Can Happen? Some time ago, I gave a legal consultation…
IRS’s Pot of Gold – The Medical Marijuana 100% Tax
Marijuana (or Cannabis, or MM). It’s not a new thing, but with the explosion of legal medical marijuana, it’s the new BIG thing. In this article, IRS tax attorney Jeffrey Anton Collins takes a closer look at the taxation issues faced by legal cannabis businesses. Growers, cultivators, and dispensers expect to make huge profits on the…
Información Útil para Detener el IRS
Escucha la Entrevista en Televisión (En inglés) PROGRAMA DE ENTREVISTAS – SPECTACULAR CHICAGO ENTREVISTA con el ABOGADO DE IMPUESTOS JEFFREY ANTON COLLINS Entrevista con Jim Baltzer, anfitrión de Spectacular Chicago, y desde Downers Grove en el área de Illinois, Jeffrey Anton Collins, un abogado de impuestos, contador, y antiguo agente de la IRS. Ellos discuten…
Due Process to Stop IRS Collections
If IRS files a tax lien against you, you have a right to stop them. One way is by “Due Process of Law”, but without the help of a skilled tax lawyer, you don’t always get the chance to exercise that right. And that’s a problem. This legal term, “Due Process”, basically means fair treatment…