Is Personal Responsibility for Payroll Taxes a Serious Legal Problem?
You may have been required to collect payroll taxes for your employees. If so, you were probably also responsible for making monthly payroll tax payments. Some business owners fail to make those payments. If this has ever been you, keep reading. In that case, an IRS revenue officer may seek to determine whether you were…
Keep All Tax Return Copies
Mistakes Do Happen (So CYA) It is a good idea to keep everything you or your tax preparer file with the IRS. (Duh.) One of our recent cases gives an example of an IRS problem caused by failing to keep complete and accurate records. This case is being handled out of the Matteson IL office….
Closing a Business with Tax Liability
Closing a Business with Tax Liability If your business has tax problems, can you simply close the company? Yes, of course you can shut down the business. However, the tax problems do not necessarily end with the closing. Here is one item that you and your IRS tax attorney should discuss when considering terminating a…
Is Chicago the Home of Health Care Fraud?
Is Chicago the Home of Health Care Fraud? Chicago is the home of many things: deep dish pizza, hot dogs, great sports, greater people. And it’s nicknamed the “windy city!” But more recently, Chicago is becoming the new home of health care fraud. Home health care is a massively growing industry in the U.S. as…
IRS-Audit-Passive-Loss-Active-Participation
Routine IRS Audits Can Become Complex Situations Imagine that the IRS office in Matteson, IL sent a Notice of Tax Examination to a small, Joliet-area business. For the year under exam (or “audit”), the business reported an operating loss. The IRS tax audit was completed, and from there, all income and expenditures were properly reported…
False Identity and Refund Check Cashing
We handled similar cases in San Juan, Puerto Rico and Joliet, IL. This is an example of a case of tax fraud, as well as criminal conspiracy under Title 26 and 18 of the United States Code. A resident woman of Columbus, Georgia, was sentenced to 37 months in prison for her role in a stolen…
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’…