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April 22, 2016

IRS Back Taxes Relief from a Professional

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IRS Back Taxes Relief from a Professional You will find various methods for you to negotiate your IRS back taxes and get rapid IRS tax relief. One of the ways a person generally learns about is actually with an Offer in Compromise. It is an official contract in between a taxpayer and also the IRS in which the actual taxpayer’s legal responsibility is resolved for under the entire balance due. This kind of contract won’t be recognized by the IRS in the event that they feel that the taxpayer can pay out entirely or via a repayment contract. There are various grounds in which the IRS may acknowledge an arrangement. Doubt regarding legal responsibility is when there’s question whether the actual tax obligation is precise. Uncertainty as to collectability is doubt that the taxpayer is ever going to have the ability to pay out the complete balance due. Efficient tax management is in the event that it is obvious that the legal responsibility is precise and can certainly be gathered. The taxpayer may qualify for an offer in compromise on these kinds of reasons. To become qualified the taxpayer must have the ability to confirm that having to pay the complete tax responsibility would trigger a serious financial difficulty. In order to make the most of an offer in compromise there are many paperwork that has to first be submitted. The majority of taxpayers in no way reconsider an offer in compromise simply because they just don’t meet the requirements. With that being said, if you think that you’re a candidate in line with the reasons previously mentioned you need to speak to an IRS tax attorney or tax professional that will help you since the approval rate is actually surprisingly low. Obtain the assistance you require right now with an Offer In Compromise by utilizing a trustworthy IRS tax firm like Instant Tax Solutions with expertise along with a substantial IRS tax relief acclaim rate background. Certified Public Accountants is capable of doing tax aid preparation. However, it might need you to check out pension plan and real estate property problems, too. You will find a large number of methods to work with IRS tax financial debt as soon as it’s been verified. IRS tax responsibility could be produced through IRS back taxes due, an IRS review evaluation amongst other things. The actual example the tax debt has been created. It should be resolved along with organized devices with the IRS. Instant Tax Solutions’ IRS tax relief help workforce has effectively guarded numerous taxpayers as well as reduces their debts due via different solutions.

January 30, 2016

How to Choose a Competent Tax Professional. Avoid Becoming a Victim of a Tax Resolution Scam

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Helpful Hints When Choosing a Tax Professional:

 

 

Christopher R. Jacquez is the President of eTaxrelief and can be contacted via the company website at: www.eTaxrelief.com

January 20, 2016

8 Professional Athletes with Tax Debt Problems

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1. Darryl StrawberryDodgers star, Darryl Strawberry first got in to trouble with the IRS in 1994 when he was put under investigation for tax fraud. The IRS tacked him with tax evasion, and he had to pay back $350,000 in back taxes, serve 3 years of probation, six years of home confinement, and complete 100 hours of community service.2. Lawrence TaylorFormer Giants linebacker, Lawrence Taylor filed an incorrect federal income tax return back in 1990. Taylor pleaded guilty to the tax charges in 1997, and was punished with three months house arrest, five years probation and 500 hours of community service for income tax evasion.3. Pete RoseBaseball favorite, Pete Rose, also got in to some trouble with the government in 1990, when he filed a false income tax return. Despite his celebrity status, Rose was sentenced to five months in a correctional facility, three months in a community treatment center, 1,000 hours of community service and a $50,000 fine.4. Helio CastronevesThe recent controversy around Indy 500 racer Helio Castroneves and his supposed $5 million tax debt has shed light on the tax problems sports stars can get in to. He is currently being tried for evading taxes on a licensing deal that he claims to never have received a dime from. Only time will tell whether the Indy 500 and dancing with the stars celebrity actually committed the tax crime.5. Willie McCoveyHall of Famer Willie McCovey, like many other athletes who ran in to tax trouble, did so by forgetting to claim cash made during autograph signing. While McCovey pleaded guilty to the crime, he also claimed to have committed it unknowingly, since he had a professional handle his accounting. He was sentenced to two years of probation and fined $5,000.6. O.J. SimpsonAlthough infamous for more than his athletic abilities, O.J. Simpson upset the IRS enough to be put on the California tax shame list. His tax debt was over $1.5 million, and he stayed on the list for more than a year.7. Jesse OwensThe late 1930’s Olympic winner Jesse Owens got himself into trouble with the IRS. After the Olympics, Owens tried multiple business ventures in the United States to profit off his newly found fame. However, one of his ventures lost Owens a fortune and rendered him unable to pay his full tax liability. As a result, Owens was forced to declare bankruptcy.8. Boris BeckerFamed tennis player and bad boy, Boris Becker, ran right in to tax trouble when it was discovered his apartment was not his priority residence, as previously claimed. As a result, he was given two years probation, fined $500,000, and ordered to pay expensive court fees.

December 27, 2015

Tax Preparation Software by Professional Tax Software

Filed under: Tax — Tags: , , — admin @ 12:46 am

For many people April does not signal the end of winter and sunny days ahead; it means only one thing. The tax man is coming to call, and he wants his money. There is no escaping the Ides of April, however, and what millions of taxpayers have discovered is that they can help their own causes by taking advantage of tax software to remove much of the drudgery from their tax return preparation ordeals.

Every year, businesses and regular citizens in America have to face the burden of preparing and filing their taxes. This process has always been somewhat arduous, and a manual task. The pertinent forms and documents are obtained from the post offices and brought home so they can be filled out either by you or by your hired expert tax specialist. While this way is still viable, and many people choose to do their taxes in this way, the process has been made a lot easier and convenient thanks to the development of tax software.

The accessibility of tax preparation software these days does more than allow you the possibility of computing your yearly income tax and transferring in your calculated return. Today, the tax preparation software programs take account of features that make tax preparation easy. Utilizing these features enables you to evaluate a variety of scenarios involving income tax concerns. Whether you own a single proprietorship or incorporated business, tax preparation software can always save you from burden of manually filling out your annual tax forms.

Whatever option you choose, the tax software proves to be a very expedient handle the sometimes confusing world of taxes. There are many reliable companies that have tax software on the market; it is a matter of personal preferences and how useful the unique features of each package will be for you.

October 23, 2015

The Search For The Best State Tax Professional Ends At Tax Solutions Group

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It is an undeniable fact that to deal with federal and state taxes is definitely a tedious task especially when the person is suffering from the severe tax liability. In addition for a common man even filing of returns and other tax related things are enough to cause severe headache. For getting out of all these tensions and any other state tax problem consulting a reliable state tax professional is considered as the prudent move.

There are many people who prefer to take assistance from the state tax professional when they are in the serious state tax problems. However it is important to note that as it is best to take medicine when the disease is in the first stage; similarly it is always better to consult a state tax professional when you think that your taxes are little bit more complicated than always.

So if you are also suffering from state tax problem of any sort like heavy tax liability or problem of un-filed tax returns and if you are looking for a company that can offer the most reliable as well as expert state tax professionals, then Tax Solutions Group is the name you must opt for.

Tax Solutions Group is one of a kind company established in the year 1994 for giving best solution for every state tax problem- simple or complicated. Unlike other companies where inexperienced staff is employed to save costs and to increase profit, this company believes in employing only such state tax professional that can be termed as real assets for the company. It is for this reason you can find expert state tax professional who are well experienced and who have the best experience of dealing with all sorts of state tax problems. It is yet another special feature of Tax Solutions Group that its every state tax professional has a minimum of 15 years experience in solving any state tax problem irrespective of its nature.

 If you want to know more about Tax Solutions Group and why it is termed as the best company for solving any state tax problem then it is best to have a look on some of its features. Some of the most important features of Tax Solutions Group are mentioned as under:

 

 

August 8, 2015

Should you Hire a Tax Professional to Prepare your Taxes?

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Five Reasons Why You May Want to Hire a Tax Professional

As you progress through your life, your finances get more complicated and preparing taxes becomes more time consuming and stressful. In fact, according to the IRS, it took an average of 37.8 hours to prepare the regular Form 1040 in 2006, even when using even when using tax software. No wonder tax season is declared by various pollsters as the second most stressful time of the year just behind the Christmas season.

If you are one of many Americans who prepare their own taxes, the following list should help you consider whether to hire a tax professional (e.g. CPA or EA) or continue to self prepare using online tax software. You should consider hiring a tax professional if any one of the following applies to you:You have a relatively complicated return. By “complicated” we mean a tax return that involves a moderate level of itemized deductions, capital gains/losses from investments, self-employment income, home sales, rental, AMT, etc. In addition to saving yourself from the stress and countless hours spent in preparation, an experience tax professional should help you prepare accurate and audit-proof tax returns.Your life changed in the past year. If you started your own business, bought a home, got married or divorced, started investing, changed jobs, or had other life changing events, you should work with a tax professional to make sure that income is properly reported and no deduction is overlooked. You get headache thinking about tax. It’s only natural given the complexity of the U.S. tax code and the fact that you do not spend most of your waking hours studying tax laws. Also, an average taxpayer does not have the time or the motivation to keep up with the constantly changing U.S. tax laws.You don’t have time. If you simply can’t afford to spend days on preparing taxes or can’t take on additional stress, you should have a tax professional prepare your taxes. Fees paid to a tax professional may be well worth the price if it means that you can go about your life uninterrupted by the stress of tax preparation.You need professional advice on how to structure your activities to minimize your tax exposure in the future. If you are concerned about your high tax bills year after year, you should consult with a tax professional regarding ways to structure your finances to maximize tax credits and deductions. Some examples include shifting income among household members, deducting various business related expenses, and deferring income to future years.

July 17, 2015

Reasons Small Businesses Must Seek Professional Tax Help

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Tax help for small business is in heavy demand, as it advisable to consult with a professional when it comes to your taxes. For people running small businesses taking professional helps is the difference between not having enough to pay for your taxes and staying in the business. With help from a professional, a lot of tax money can be saved as he would help in filing the appropriate tax return. The cost of employing a professional may be on the higher side, but it is money well spent as it will help you reap huge tax benefits and also help in providing solutions.
Tax help for small business is of essential importance, as the tax laws are complexly worded and organized. The whole process of filing a tax return is highly complex and can leave people highly frustrated. Therefore it is necessary to consult with a professional so as to ensure that you file the right tax form and to make sure that all intimate details are taken care off. The end result from this is that, you can forget about any lax liability left un-paid for and also forget about the IRS coming after you.
An additional reason for employing professional help for small businesses is that you save a lot of money. In most cases the professional aid the business through the course of an financial year. This helps in growth of the business in a big way as the owner can plan his purchases, investments and upgrades in such a way so as to save tax. Professionals help in writing of some of the costs incurred as tax deductions, and the best part about this is that they do it in a perfectly legal way by utilizing the loop holes in lax laws. If the above is done without the aid of a professional it can amount to cheating.
If you do not want an professional helping you in filing the tax returns of your business, then it is possible for you to do it by yourself through the numerous tax help web-sites that are available, including one run by the IRS itself. When you decide to go in for self help it is important to choose the right tax form to file and it is also necessary to have some amount of experience in tax related matters.
There are numerous tax laws when it comes to filing tax returns for your small business. When you hire a professional, you ensure that all the laws are properly taken care off and therefore your worries can be left in the cooler. If you do not to invest your hard earned money on getting professional help then you can always get help from the internet. In other words there is no shortage of help

April 23, 2014

How to Hire a Tax Professional for Your Small Business

Filed under: Tax — Tags: , , , — admin @ 12:46 pm

If you own a business, you should not be doing the tax preparations yourself.  Preparing an income tax return can be frustrating and confusing.  Luckily, you have the option of choosing a professional to prepare your taxes for you.  This will not remove all the frustration and irritation that comes with a tax return, but it will help you to better cope with most of it.You can choose a Certified Public Accountant (CPA), which is a designation that is familiar to most all of us.  There is another choice you can make that is less well known.  This choice would be to pick an Enrolled Agent (EA).  An Enrolled Agent holds a federal license registered with the Internal Revenue Service and is qualified to represent clients before the Internal Revenue Service.  A CPA is licensed by the state and is educated in a much broader aspect of financial services.  Just because someone is a CPA, it doesn’t mean that they are a tax expert.Be certain that you hire a person experienced in preparing taxes for your individual niche.  Perhaps, you are self-employed, the owner of a small business, or an on the road trucker.  All of these categories have varying standards, procedures, and restrictions for filing an income tax return.  You will want to be sure that your tax professional has experience relative to your category of taxpayer.  Even if you are just filing a seemingly standard income tax return, you do not want to hire someone who just started yesterday.  Experience is a key factor in deciding who should prepare your tax return.Check out the reputation of your tax professional.  Do not be afraid to ask for client testimonials or referrals.  Reputation is very important.  You want to hire someone who acts on your behalf, but not someone willing to stretch credence to the point of triggering a tax audit.  It is very good to have someone preparing your taxes that can lower your tax liability, but such results must come legitimately.Be careful of anyone who promises you too much.  Any tax professional that is willing to “guarantee” that they will save you money on your tax return should be avoided.  There is absolutely no way anyone can guarantee anything about your income taxes, except the Internal Revenue Service.  A guarantee is a pretty sure sign that this person is willing to stretch the rules in preparing your taxes.  Such a lack of ethics can probably guarantee you one thing for sure, and that’s an Internal Revenue Service audit.Make sure the person you hire to prepare your income tax return charges fair and competitive rates.  Don’t hire the first person you come across.  Compare fees and charges, along with certification, references, experience, and reputation.  Combining these factors when comparing tax professionals should help you greatly in making the right choice regarding who is going to prepare your tax return.

September 7, 2013

Professional Credit Card Debt Settlement – On Hiring A Competent Debt Counselor

Credit card debt can smother a person. This is why it’s important to deal with it head-on so that you can really take control of your finances. If you have a lot of debt, consider hiring a debt counselor.

This professional will sit down with you and all of your statements and financial information and work out a plan that fits your life. This could really be the crutch you need to change everything from your monthly expenses and payments to your credit score. The right professional will be clear and honest about what you have to do to negotiate a favorable settlement. The following are some of the many reasons to consider investing in a professional debt counselor to help you stay out of debt.

Hector Milla Editor of the “Credit Card Debt Free” website — http://www.CreditCardDebtFree.org — pointed out;

Helpful Resource

“…A debt counselor can explain everything from credit card interest rates to consolidation options like loans and cards. Debt is much more complicated than simply owing companies money. Instead, there are interest rates and annual, overcharge, and late fees to calculate. This means that the right debt counselor could explain not just how much your monthly payments will be but also what you end up saving for years to come. This makes it easier and less stressful to really sort through and deal with your bills…”

Someone in Your Corner

If you have a financial advisor in your corner, you have someone who will help negotiate a solid repayment plan or credit card debt settlement with companies of all types. The staff at such groups may try to intimidate you but having a debt counselor means that you will have the support you need to negotiate favorable terms.

Plan for the Future

A great thing about investing in a professional counselor to help you with your settlement or repayment options is that this person will teach you valuable financial skills. For example, he or she can explain how to make and keep a budget as well as the ins and outs of choosing lenders with which to work.

“…The right counselor will be an important ally when it comes time to negotiate and work with credit card companies and banks. This is a chance to learn how to deal with debt and how to calculate which rates and terms are best for your future. With the help of a financial expert, you will be able to finally get yourself out of this mess!…” added H. Milla.

Further information about trusted and reputable companies for credit card debt settlement by visiting; http://www.CreditCardDebtFree.org

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