If you owe the Internal Revenue Service a significant amount of money in back taxes, you may be wondering what your options are to resolve this debt. It is important to know that the IRS does offer a number of tax relief programs for those in situations such as [...]
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When you owe a substantial and accruing amount of tax debt to the Internal Revenue Service, it can feel absolutely crushing. The prospect of going up against a large federal agency, particularly the IRS, will stress and intimidate most of us. In such cases, it is important that you [...]
By: Mary Lundstedt, Esq., Associate and Rebecca Sheppard, Esq., AssociateHave you ever considered filing an offer in compromise with the IRS to "settle your debt for pennies on the dollar"? Until recently, filing an offer in compromise was believed to create an automatic hold on collection action--i.e., the IRS would [...]
Tax time can be confusing and stressful particularly if you are trying to itemize your deductions and haven't been very well organized about keeping track of your expenses and income. Many tax forms tend to be complex and even somewhat intimidating that some tax preparers feel they could use [...]
By Eli S. Noff, Esq., CPA, Partner Mary Lundstedt, Esq. The taxpayer in Berkun v. Commissioner1 ultimately raised two collection due process arguments too late for consideration on appeal, but the Eleventh Circuit apparently found them worthy enough to highlight in a published opinion. Although the Eleventh Circuit uses [...]
By: Eli S. Noff, Partner and Peter Palsen Jakarta, Indonesia - 1990 The aroma of my strong Java coffee blended with the smell of the dark teak paneling of the conference room of my client's office. I glanced at my U.S.-citizen client and then back to the two bankers [...]
The tax audit process in Florida can be a harrowing one. Often times, after the audit is done, you just pay what you owe and move on. But there are times when you might not be satisfied with the results of the tax audit. The tax auditor may be [...]
Be Vigilant When Hiring A Tax Preparer: Two Tax Preparers in Maryland Guilty of Filing False Returnsadmin2018-12-08T22:06:43+00:00
By Glen Frost, Managing Partner and Mary Lundstedt, Esq., AssociateThe Comptroller’s Field Enforcement Division and the Criminal Investigations Division of the Maryland Attorney General’s Office, working in tandem, investigated and prosecuted two more Maryland tax preparers—resulting in guilty pleas. On July 24, 2018, Maryland Attorney General Brian E. Frosh [...]
By: Eli S. Noff, Esq., CPA, Partner Mary Lundstedt, Esq., Associate Brent Conrad In an effort to reduce persistent high unemployment rates resulting from the 2008 financial crisis, President Obama signed The Hiring Incentives to Restore Employment Act of 2010 (HIRE Act)1 to incentivize employers to hire and retain workers. Tax incentives provided [...]
The Florida Department of Revenue states that a tax audit is meant to be an "educational experience" for taxpayers, which helps businesses identify and rectify bookkeeping issues, which could lead to more tax liabilities. So, why are taxpayers audited? Officials say the goal of tax audits is to help [...]