How Do Regular Gamblers Handle IRS?
How Do Regular Gamblers Handle IRS? Regular gamblers, gamers, off-track betters and wagers all take losses. No matter whether they file a tax return, get audited, have a tax lien, or try setting up an installment agreement, they usually get a raw deal from IRS about their gambling losses. All gambling losses should be deducted…
How to Spot IRS Phone Scams
How to Spot IRS Phone Scams If someone calls demanding money for IRS tax, is this a legitimate call? Probably not, because IRS just doesn’t make collection phone calls. One of the more popular scams now is the caller who threatens to arrest you today. Usually a male voice, he will claim to be an…
Can an IRS Levy Be Released for a Hardship?
Can an IRS Levy Be Released for a Hardship? The federal tax levy is issued by IRS to enforce tax collection. But certain circumstances (outlined under IRM section 5.11) authorize for the Release of Levy. One of those circumstances is Economic Hardship. Under IRS Tax Code §6343, a federal tax levy must be released when…
They Sent Form 1099, Not the W-2
All employees, which easily includes unskilled laborers and most (near) minimum wage hourly workers, expect their W-2 Form in January. On the W-2, the employer reports last year’s wages and taxes withheld, employee benefits, etc. Those numbers are reported to the employee, the Social Security Administration, and to the Internal Revenue Service. This is the…
I Don’t Have My W-2 Form
Most every worker in the United States knows to expect his/her Form W-2 no later than January 31st. Even though many tax preparers will process your return by using your final pay statement for the previous year, you are still entitled to receive this form. There are steps you can take. Read on to learn…
Floyd Mayweather, Another Celebrity With Tax Issues. Here is what you should know…
Floyd Mayweather, Another Celebrity With Tax Issues…Here is what you should know… Recently, the news broke that Floyd Mayweather may be in some tax trouble. According to reports, he owes millions in back taxes totaling $22 million. This is a lot of money but should be easily handled by someone with his means, right? Floyd…
Obamacare Repeal: These Taxes Could Go Away
Obamacare Repeal: Quick Reference on Suggested Tax Decreases As a firm that handles IRS representation, rarely are we asked to comment on national tax policy. Our clients, whether in Naperville or Aurora, Illinois, or further away like the Carolinas, Nevada, or even Puerto Rico, all have weighed in their opinions on the tax changes by the Affordable…
How to Hire a Federal Criminal Tax Lawyer
How to Hire a Federal Criminal Tax Lawyer Tax defense lawyers are devoted to the defense of complex federal civil tax matters, federal criminal tax matters, tax fraud and tax evasion. Your chosen Criminal Tax Lawyer might represent clients in tax matters throughout the United States. Federal Tax Crimes representation is extremely specialized. You may…
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….