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  1. <?xml version='1.0' encoding='UTF-8'?><?xml-stylesheet href="http://www.blogger.com/styles/atom.css" type="text/css"?><feed xmlns='http://www.w3.org/2005/Atom' xmlns:openSearch='http://a9.com/-/spec/opensearchrss/1.0/' xmlns:blogger='http://schemas.google.com/blogger/2008' xmlns:georss='http://www.georss.org/georss' xmlns:gd="http://schemas.google.com/g/2005" xmlns:thr='http://purl.org/syndication/thread/1.0'><id>tag:blogger.com,1999:blog-6247008616519844034</id><updated>2024-10-07T11:50:22.303+07:00</updated><category term="FAQ Concerning Tax Debt Resolution"/><category term="Filing Late Taxes"/><category term="TAX"/><category term="Business Education Tax Credit"/><category term="Deceased Tax Returns"/><category term="Delinquent Tax Returns"/><category term="FREE HELP WITH TAX RETURNS"/><category term="File IRS Back Taxes"/><category term="Foreign Tax"/><category term="Hope Tax Credit"/><category term="IRS Audits"/><category term="IRS Debt Tax Attorney"/><category term="IRS Dispute Lawyer"/><category term="IRS Payments"/><category term="IRS Tax Debt"/><category term="Inheritance Tax"/><category term="Introduction to Tax"/><category term="Introduction to the Indonesian Tax System"/><category term="New Market Tax Credits"/><category term="Penalties for Tax Evasion"/><category term="Resolving"/><category term="Spam–Email-Tax"/><category term="Streamlined Sales Tax Project"/><category term="TAX CREDIT"/><category term="Tax Administration"/><category term="Tax Attorney"/><category term="Tax Attorneys"/><category term="Tax Audits"/><category term="Tax Credit Work"/><category term="Tax Credits"/><category term="Tax Debt"/><category term="Tax Forms"/><category term="Tax Lien"/><category term="Tax Liens"/><category term="Tax Planning"/><category term="Tax Problem HelpTax Problem Help"/><category term="Tax Proposal"/><category term="Tax Relief"/><category term="Tax Returns"/><category term="Tax Software"/><category term="Tax protesters"/><category term="Taxpayer Advocate"/><category term="The Alexa Site Audit"/><category term="The Internet Sales Tax Issue"/><category term="Unfiled Returns"/><category term="What is Tax Evasion?"/><category term="World Tax"/><category term="tax resistance"/><title type='text'>Information About Tax</title><subtitle type='html'>Tax is referred as the involuntary financial charge imposed on the individuals or groups or businesses or on any legal entity by any level of the government in order to finance govt.</subtitle><link rel='http://schemas.google.com/g/2005#feed' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/posts/default'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default?redirect=false'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/'/><link rel='hub' href='http://pubsubhubbub.appspot.com/'/><link rel='next' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default?start-index=26&amp;max-results=25&amp;redirect=false'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><generator version='7.00' uri='http://www.blogger.com'>Blogger</generator><openSearch:totalResults>51</openSearch:totalResults><openSearch:startIndex>1</openSearch:startIndex><openSearch:itemsPerPage>25</openSearch:itemsPerPage><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-5638375278863460392</id><published>2010-10-01T16:58:00.002+07:00</published><updated>2010-10-01T16:58:18.782+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="TAX CREDIT"/><title type='text'>TAX CREDIT</title><content type='html'>SOUTH CAROLINA DEPARTMENT OF REVENUE&lt;br /&gt;
  2. COLLEGE TUITION TAX CREDIT&lt;br /&gt;
  3. To help ease the financial burden for South Carolina&lt;br /&gt;
  4. college students and their families, the South Carolina&lt;br /&gt;
  5. General Assembly has created an income tax credit for&lt;br /&gt;
  6. tuition paid to South Carolina colleges and universities.&lt;br /&gt;
  7. The following information should answer most of your&lt;br /&gt;
  8. questions about the tax credit.&lt;br /&gt;
  9. Who can claim the credit?&lt;br /&gt;
  10. The student, parents, guardian or whomever actually&lt;br /&gt;
  11. pays the tuition and claims the student as a dependent&lt;br /&gt;
  12. on their tax return may claim the credit. If the parent and&lt;br /&gt;
  13. student split the cost of the tuition, they also may split the&lt;br /&gt;
  14. credit on the tax return. However, the combined credit&lt;br /&gt;
  15. claimed by the parent and student may not exceed the&lt;br /&gt;
  16. maximum amount of the credit. Parents or guardians&lt;br /&gt;
  17. with more than one student in college may claim a credit&lt;br /&gt;
  18. for each qualifying student.&lt;br /&gt;
  19. Who qualifies for the credit?&lt;br /&gt;
  20. 􀀹 Students must have completed their high school&lt;br /&gt;
  21. education in May 1997 or afterwards.&lt;br /&gt;
  22. 􀀹 Students must have graduated from a South&lt;br /&gt;
  23. Carolina high school or home school program in&lt;br /&gt;
  24. South Carolina. Students may also qualify if they&lt;br /&gt;
  25. graduated from an out-of-state prep school as long&lt;br /&gt;
  26. as the parent or guardian remained a South&lt;br /&gt;
  27. Carolina resident.&lt;br /&gt;
  28. 􀀹 Students must qualify for in-state tuition&lt;br /&gt;
  29. 􀀹 Students must compete at least 30 credit hours by&lt;br /&gt;
  30. the end of the tax year in which the credit is&lt;br /&gt;
  31. claimed&lt;br /&gt;
  32. 􀀹 Students must be enrolled in an undergraduate&lt;br /&gt;
  33. degree program or at a one-year undergraduate&lt;br /&gt;
  34. certificate or diploma program.&lt;br /&gt;
  35. 􀀹 Students cannot have been convicted or pled&lt;br /&gt;
  36. guilty or no contest to any felonies or alcohol or&lt;br /&gt;
  37. drug crimes in any state. (This does not apply if&lt;br /&gt;
  38. the criminal record has been expunged.)&lt;br /&gt;
  39. 􀀹 Students cannot be in default on any student&lt;br /&gt;
  40. loans.&lt;br /&gt;
  41. 􀀹 Students may not claim the credit if they are&lt;br /&gt;
  42. recipients of the LIFE Scholarship or the Palmetto&lt;br /&gt;
  43. Fellowship. If the student loses the scholarship, a&lt;br /&gt;
  44. tax credit may be claimed for the time remaining in&lt;br /&gt;
  45. the four-year credit period if the student otherwise&lt;br /&gt;
  46. qualifies.&lt;br /&gt;
  47. 􀀹 Students must be in good standing at the school.</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/5638375278863460392/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/10/tax-credit.html#comment-form' title='2 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/5638375278863460392'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/5638375278863460392'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/10/tax-credit.html' title='TAX CREDIT'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>2</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-1942199569526016332</id><published>2010-10-01T16:54:00.002+07:00</published><updated>2010-10-01T16:54:34.197+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="FREE HELP WITH TAX RETURNS"/><title type='text'>FREE HELP WITH TAX RETURNS</title><content type='html'>notice free tax help.doc&lt;br /&gt;
  48. Tax counseling and preparation help is available under the sponsorship of the American&lt;br /&gt;
  49. Association of Retired Persons (AARP), in cooperation with the Internal Revenue Service&lt;br /&gt;
  50. (IRS). Tax-Aide tax counseling is a free service provided by volunteers who have been&lt;br /&gt;
  51. trained in tax counseling and who provide their services free to those who are eligible&lt;br /&gt;
  52. under the program. This service is not limited to senior citizens. Services for the 2008 Tax&lt;br /&gt;
  53. Year will be available from February 1, 2009 through April 15, 2009.&lt;br /&gt;
  54. Site locations and times in Northern Kentucky are as follows:&lt;br /&gt;
  55. COUNTY LOCATION DAY and TIMES&lt;br /&gt;
  56. BOONE BOONE COUNTY LIBRARY FRIDAY&lt;br /&gt;
  57. 1786 Burlington Pike 9:00 am – 1:00 pm&lt;br /&gt;
  58. BURLINGTON, KY 41005&lt;br /&gt;
  59. CAMPBELL FIRST PRESBYTERIAN CHURCH THURSDAY&lt;br /&gt;
  60. 220 S. Ft. Thomas Ave 9:00 am – 1:00 pm&lt;br /&gt;
  61. FT. THOMAS, KY 41075&lt;br /&gt;
  62. CAMPBELL NEWPORT PUBLIC LIBRARY TUESDAY&lt;br /&gt;
  63. 901 E. Sixth Street 10:00 am – 2:00 pm&lt;br /&gt;
  64. NEWPORT, KY 41076&lt;br /&gt;
  65. KENTON KENTON COUNTY LIBRARY WEDNESDAY&lt;br /&gt;
  66. 5TH &amp;amp; SCOTT ST 9:00 am – 1:00 pm&lt;br /&gt;
  67. COVINGTON, KY 41011&lt;br /&gt;
  68. KENTON ERLANGER CHRISTIAN CHURCH SATURDAY&lt;br /&gt;
  69. 27 Graves 9:00 am – 1:00 pm&lt;br /&gt;
  70. ERLANGER, KY 41018&lt;br /&gt;
  71. PENDLETON PENDLETON COUNTY LIBRARY MONDAY&lt;br /&gt;
  72. 228 Main St 3:00 pm – 7:00 pm&lt;br /&gt;
  73. FALMOUTH, KY 41040&lt;br /&gt;
  74. GRANT WILLIAMSTOWN SENIOR CENTER SATURDAY&lt;br /&gt;
  75. 400 N Main St (behind firehouse) 9:00 am – 1:00 pm&lt;br /&gt;
  76. Williamstown, KY 41097&lt;br /&gt;
  77. Please bring the following with you when you come: Copies of your last year (2007)&lt;br /&gt;
  78. Federal and KY income tax returns, Social Security cards for self and all dependents, W-2&lt;br /&gt;
  79. forms from each employer, unemployment compensation statements, SSA-1099 if you&lt;br /&gt;
  80. received Social Security benefits, all 1099 forms showing dividends and interest, 1099-R&lt;br /&gt;
  81. form if you received pension or annuity, 1099-misc showing any miscellaneous income,&lt;br /&gt;
  82. bring documentation showing selling price and original purchase price for any assets sold,&lt;br /&gt;
  83. all forms indicating federal and state income tax paid, dependent care provider&lt;br /&gt;
  84. information, all receipts or canceled checks if itemizing deductions.</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/1942199569526016332/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/10/free-help-with-tax-returns.html#comment-form' title='2 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/1942199569526016332'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/1942199569526016332'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/10/free-help-with-tax-returns.html' title='FREE HELP WITH TAX RETURNS'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>2</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-558220796721863843</id><published>2010-09-27T03:34:00.002+07:00</published><updated>2010-09-27T03:34:25.096+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="Tax Forms"/><title type='text'>Filling Your State Tax Forms</title><content type='html'>&lt;div id=&quot;body&quot; style=&quot;text-align: justify;&quot;&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;   &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;The taxes imposed by the States are called State taxes. State forms  are used by individuals and companies to file the income earned during a  year to the state revenue department. They differ for various states  and so do the numerous forms required to file the returns. Most of the  states impose state taxes on their residents and those that do not  impose individual income tax have corporate income tax. People residing  in these states have to file state income tax also, in addition to the  federal income tax. The states that impose neither income tax nor  corporate income tax have high sales tax.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;They could be obtained  from the post offices, libraries or schools. It could be downloaded from  the Revenue site of the respective states.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;The filling of state  tax forms can be very simple in some cases and could be complex in  certain other cases depending on the type of income they earn. If wages  or salary is your only source of income, then it requires you to fill in  very few details. If you have income from pensions, real estate, stock  market transactions etc, then you will have to submit supplementary  forms and worksheets and this could be very long.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;If the federal  tax is already filed, then you can refer to that and fill in some of the  details of your state tax forms. There are certain exemptions,  deductions and tax situations that are specific to each state. If you  are filling the forms in yourself you should be aware of these,  otherwise you will end up paying more taxes than is necessary. State  taxes could be counted as deductions in the federal tax and if the state  taxes are not calculated properly, this will have an impact on the  federal tax.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Those who are not familiar with tax forms may use  income tax software to fill in the details. This software requires you  to fill in the details from your W2 tax forms, 1099 and other supporting  documents. If these details are entered, the software will do the  calculations and the right figures will be entered at the corresponding  slots. While filing the state tax forms, the software imports the  details already filled; you will be asked to fill in the details  specific to the particular state.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Filing IRS form 1040 properly is  essential to file the state forms as most of the details for them are  imported from 1040.&lt;/div&gt;&lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/558220796721863843/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/filling-your-state-tax-forms.html#comment-form' title='2 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/558220796721863843'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/558220796721863843'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/filling-your-state-tax-forms.html' title='Filling Your State Tax Forms'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>2</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-2838725472475992034</id><published>2010-09-26T05:39:00.002+07:00</published><updated>2010-09-26T05:39:54.366+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="Tax Proposal"/><title type='text'>The Flat Tax Proposal</title><content type='html'>&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;br /&gt;
  85. &lt;/span&gt;        &lt;/span&gt;&lt;/div&gt;&lt;hr noshade=&quot;noshade&quot; size=&quot;1&quot; style=&quot;margin-left: 0px; margin-right: 0px;&quot; width=&quot;100%&quot; /&gt; &lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;img align=&quot;left&quot; alt=&quot;The Flat Tax Proposal&quot; height=&quot;110&quot; src=&quot;http://www.investingvalue.com/investment-articles/authors/al-jacobs/investing-articles.jpg&quot; width=&quot;80&quot; /&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;b&gt;The        Flat Tax Proposal&lt;/b&gt;&lt;/span&gt;&lt;/span&gt;&lt;br /&gt;
  86. &lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;       Consider what government is all about. It can be summed up in one  word: Taxes.  Regardless of location, party denomination or political structure, just  as an  army reputedly &quot;travels on its stomach,&quot; a bureaucracy travels on its  citizens&#39; billfolds, and everyone entering government service sooner or  later  comes to share this attitude. Left to the devices of the officials,  there is no  limit to the amount collected, and any attempt by the payors to minimize  the tribute  will be met with warnings of dire consequences that never end. In  California,  home of the famous (or infamous) Proposition 13, the initiative measure  which  in 1978 cut property taxes by half and limited future increases to 2  percent per  year, tax beneficiaries to this day blame every malady except the  sinking of the  Titanic on the passage of that proposition. The fact that the state and  all its  political subdivisions are literally awash in money does not dampen the  enthusiasm  of many to rescind that law.  &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;As the intent of the  collectors to shear the public is clear, so is the attitude    of the shorn. It requires no great awareness to understand that your  money is    taken. For this reason, the politicians must regularly genuflect to  the concept    of tax relief, and an endless variety of proposals are periodically  floated    to convince the citizens that their best interests are uppermost in  the minds    of their leaders. Think back, if you will, to the spectacle of  political candidates    falling all over themselves with conflicting tax reduction plans prior  to the    2000 national elections. The called-for relief stressed the  conventional palliatives    including marital deduction reform, capital gains revision, and  general rate    reduction. As predictable, the sound and fury following the election  came to    mostly nothing, short of ballyhoo over how each citizen might best  spend a $300    per head governmental gift. &lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;One of the more fascinating suggestions  that surfaces from time to time is    the idea of a &quot;flat tax.&quot; As the concept is actually taken seriously,    it is worth discussing. Income tax in the United States is assessed  and collected    in what are known as &quot;brackets,&quot; of which five presently exist for    the average taxpayer. As a person&#39;s annual taxable income rises, the  rate at    which it is taxed increases with each higher bracket. A tax system  with a wide    percentage variance between the lowest and highest brackets is  referred to as    progressive. The proponents believe it fair that those with the larger  incomes    pay a greater percentage of that income in taxes. However, it is by  the granting    of various exclusions, exemptions, deductions, and credits that  taxation of    income takes on its true character, and it is through the use of these  devices    that the effective rates are distorted into a bewildering array of  meaninglessness.  &lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;This brings us now to the flat tax,  which, at its simplest, is the taxing of    all income from whatever source, with no exemptions or exclusions, at a  single    rate. This concept is propounded from time to time by various  political candidates    in the hope that its simplistic approach will somehow capture the  hearts and    imaginations of the beleaguered tax-paying voters. Its supporters  include representatives    of both major parties, where variations on the specific details are  introduced    in order to satisfy one or another special interest group. Though  popularized    by Republican Stephen Forbes in both his 1996 and 2000 presidential  bids, a    decade earlier Oakland Mayor Edmund G. (Jerry) Brown, Jr., a former  Democratic    governor of California, championed it with an equal lack of success.  Over the    years the flat tax concept has remained a durable issue for those  candidates    utilizing the Christopher Columbus approach to electioneering: just  discover    an issue and land on it. &lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; &lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;My objection to the flat tax is its  offer of tax simplification. For the taxpayer          willing to understand and utilize the system, complexity is  desirable,          and the more, the better. Complexity, by its very nature,  creates opportunities          for creativeness--&quot;loopholes,&quot; if you prefer. It also  complicates          the tax collector&#39;s ability, sometimes to the point that the  entire process          bogs down in a mass of self-contradictory rules and procedures.  Ease of          administration of a tax system normally results in maximum  revenue to          the collector, whereas complexity works in the taxpayer&#39;s  interest. It          is my belief that the sole hope for the citizen is a  perpetuation of the          presently existing labyrinth of tax laws. Only a system that  provides          an element of indecipherability will allow the knowledgeable  taxpayer          some maneuvering room.&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/2838725472475992034/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/flat-tax-proposal.html#comment-form' title='0 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/2838725472475992034'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/2838725472475992034'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/flat-tax-proposal.html' title='The Flat Tax Proposal'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>0</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-7060587932749945409</id><published>2010-09-26T05:38:00.000+07:00</published><updated>2010-09-26T05:38:26.253+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="Tax Planning"/><title type='text'>A Little Tax Planning</title><content type='html'>&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;br /&gt;
  87. &lt;/span&gt;        &lt;/span&gt;&lt;/div&gt;&lt;hr noshade=&quot;noshade&quot; size=&quot;1&quot; style=&quot;margin-left: 0px; margin-right: 0px;&quot; width=&quot;100%&quot; /&gt; &lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;img align=&quot;left&quot; alt=&quot;investment articles author&quot; height=&quot;110&quot; src=&quot;http://www.investingvalue.com/investment-articles/authors/al-jacobs/investing-articles.jpg&quot; width=&quot;80&quot; /&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;b&gt;A        Little Tax Planning&lt;/b&gt;&lt;/span&gt;&lt;/span&gt;&lt;br /&gt;
  88. &lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;       Seated here with my niece Pauline at The Fish Market in Irvine,  California,        one of my favorite restaurants, certainly ends the week on a high  note.        While waiting for the Manhattan clam chowder, Pauline is bringing  me up        to date on her family. &quot; . . . so Barbara is starting her senior  year        at high school and Randy will be a sophomore. It’s hard to  realize,        Uncle Al, that Jim and I will be celebrating our twentieth  anniversary in        just a few months.&quot;        &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;It’s sort  of unreal to me too,&quot; I said. &quot;It seems          as though I attended your wedding only a few years ago, and Jim  had just          started with Barnes and Standard in the shipping department.  Tell me,          how are things going for him now?&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;Couldn’t be better. He received another  promotion last month—he’s          assistant to the plant manager now.&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;Why, that’s great. It’s a fine fellow  you’ve got.          Oh, and by the way, how is that little antique business you  started up          a few years ago. Is it finally showing some signs of life?&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;Yes, it is . . . at last. I’m working  with a woman that does          furniture restoring, and that’s breathed some life into things.  I’ve          developed several sources for locating fine old pieces, and I’m  starting          to build a base of repeat clients. The fact is, I made almost  forty thousand          dollars last year and as things are going, it should be fifty  this year.&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;Um, that’s wonderful . . . &quot; I  remarked, but as the words          came out, several discomforting thoughts came to mind. After a  few moments,          I leaned a little closer across the table and said: &quot;Pauline, do           you mind if I ask you a few specific questions about your  business?&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;Why, not at all, Uncle Al. What do you  want to know?&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;Well, first off, what form of business  entity do you use?&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;I’m not sure what you mean,&quot; she said.&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;Well, did you organize as a  partnership, or perhaps an S corp,          or simply as a sole proprietor?&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;Eh, that last one, I guess. I just  filed a business notice in the          name Pauline’s Antiques.&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;That’s what I thought, which means your  accountant lists income          and expense as part of your and Jim’s 1040 tax return on a  Schedule          C.&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;Yes, that’s right. Is that good or  bad?&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;Pushing the now empty clam chowder bowl  to the side, I reached for a          slice of The Fish Market’s exquisite sourdough bread. &quot;Well,          I’ll give you the facts and then you can decide whether it’s          good or bad—but first I have to ask a personal question.&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;Anything,&quot; she said.&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;How much is Jim’s salary now at Barnes  and Standard?&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;He’s getting sixty-five thousand a  year.&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;As I leaned back in my chair once again,  I mentally added numbers as          the picture came into clear focus. Then peering directly at  Pauline, I          said: &quot;Here’s the way it is: Though you may make fifty thousand          this year, you’ll only get to keep about half of it.&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;I watched as a look of disbelief formed  on the face in front of me. &quot;What          do you mean that I’ll only get to keep half of it?&quot; she  exclaimed.&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;Here’s the way it works,&quot; I said. &quot;With  the joint          return that you and Jim file, your income is simply added on to  the top          of your federal tax bracket, which is 25 percent up to about  $115,000,          and goes to 28 percent above that. You can then add on another  9.3 percent          for California tax. Finally, every dime you make will have an  additional          15.3 percent for FICA tax—that’s your contribution to the Social           Security system. All together, almost 50 percent comes right off  the top.          You’ll get to keep maybe $25,000. Now you tell me, is it good or           bad?&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;It’s terrible! How can they do such a  thing?&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;That’s something that would take me  about six hours to explain,&quot;          I said, as the waitress arrived with two luscious orders of  rainbow trout.&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;Pauline grimaced. &quot;I think I’ve lost my  appetite,&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;I smiled slightly as I said: &quot;Maybe  things aren’t all that          bad. There’s another way to skin this cat, if you’d like to          hear about it.&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;Anything.&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;It’s fairly simple. You run your  business as a corporation          instead of as a sole proprietorship.&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;How does that change things?&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;I’ll explain. To begin with, federal  corporate income tax          on the first $50,000 is 15 percent. In the second place, income  to the          corporation that’s not passed on as salaries is exempt from the  FICA          tax. And even the state helps a little with a slightly lower  corporate          rate of 8.84 percent. So these three items will represent a  savings to          you of almost $13,000. Now, does that strike you a little  better?&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;Uncle Al, your suggestion certainly  sounds reasonable. But just          one thing: what are the drawbacks?&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;Pauline, you’re starting to ask the  right questions. Yeah,          there are a few things to consider. Most important, do you have  to draw          out any of your profits for living expenses, or can you, Jim,  and the          kids get by on his salary?&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;We do just fine on that. I don’t need  to dip into any of the          business income.&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;Good, then you can pull it off. It  means that the corporate profit          will remain as undisbursed assets. There is, however, one  complication          that you’ll eventually have to face, but it’s manageable.&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;And what’s that?&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;It’s something called accumulated  earnings surtax, which is          15 percent collected on top of normal corporate income tax. You  see, the          IRS doesn’t like corporations to hoard earnings. That interferes           with the double taxation they understandably find to their  liking. Fortunately,          however, there’s some leeway. An accumulated earnings credit of  $250,000          prevents assessment of the tax until the aggregation reaches  that amount.          That’ll give ample time to arrange things; I’ll help you with          that when the time comes. In the meanwhile, with the services of  a law          firm I can recommend, together with your accountant’s help, you  can          be set up and functioning in no time at all.&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;Uncle Al, you’re a lifesaver. I’ll get  on it right away.          I certainly feel better.&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;Pauline, it’s a pleasure. Now, is there  anything else I can          do?&quot;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;      &lt;/span&gt;&lt;/span&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Arial,Helvetica,sans-serif; font-size: x-small;&quot;&gt;&quot;Yes there is,&quot; she said, with a broad  grin. &quot;Pass the          tartar sauce . . . my appetite’s come back.&quot;. &lt;/span&gt;&lt;/span&gt;&lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/7060587932749945409/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/little-tax-planning.html#comment-form' title='0 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/7060587932749945409'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/7060587932749945409'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/little-tax-planning.html' title='A Little Tax Planning'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>0</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-8224501501203312511</id><published>2010-09-25T16:22:00.000+07:00</published><updated>2010-09-25T16:22:28.910+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="Tax Debt"/><title type='text'>Settle Tax Debt and IRS Problems</title><content type='html'>&lt;div style=&quot;text-align: justify;&quot;&gt;Whether the IRS is demanding full payment of back taxes up-front or a payment plan that is substantially higher than what you can afford to pay, we can negotiate an offer in compromise settlement on your behalf for a fraction of what is owed or to set up an arrangement for the lowest possible monthly payment with various options for making those payments, if you qualify.&lt;/div&gt;&lt;div&gt;       &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Don&#39;t be afraid of the IRS anymore. We have a 99.7% client satisfaction rate from clients who have permanently resolved their back taxes and IRS problems. Get tax relief fast from the nation&#39;s leading expert in resolving back taxes and &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/irs-help.asp&quot;&gt;IRS problems&lt;/a&gt;.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Even if you can&#39;t afford to pay your back taxes, a Certified Tax Resolution Specialist, &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/tax-relief-consultation.asp&quot;&gt;tax attorney&lt;/a&gt; or CPA, can give you the help you need to settle your IRS debt.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;If you owe back taxes or if you&#39;ve been threatened with an IRS levy, lien, seizure or the denial or termination of an installment agreement, let us represent you and put end to your IRS problems! We can help you file an &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/irs-collection-appeals.asp&quot;&gt;IRS Collection Appeal&lt;/a&gt; to stop an IRS levy or seizure.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;b&gt;Check out these tax resolution strategies that can help you resolve your back taxes:&lt;/b&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;        &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;If you owe less than $10,000 in back taxes: If you have a clean IRS record and all your tax returns are filed - you can call the IRS directly and they can (it&#39;s guaranteed) arrange a payment plan to be paid in 36 monthly installments.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;If you owe $10,000 or more in back taxes: You will want to partner with a Certified Tax Resolution Specialist or a tax attorney to increase your chances of qualifying for an IRS payment plan, helping you settle your back tax debt for the lowest possible amount, and removing &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/irs-bank-levies.asp&quot;&gt;bank levies&lt;/a&gt;, tax liens or wage garnishments.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;h2 class=&quot;h4style&quot; style=&quot;text-align: justify;&quot;&gt;&lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/offer-in-compromise.asp&quot;&gt;Offer in Compromise&lt;/a&gt;&lt;/h2&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;        &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;If you can&#39;t afford to pay your back taxes in full, the Offer in Compromise program provides taxpayers who owe the IRS more than they could ever afford to pay, the opportunity to pay a small amount as a full and final payment. Taxpayers who attempt to file for an Offer in Compromise on their own often put themselves at risk of not qualifying for a settlement or they end up paying more than they have to. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;h2 class=&quot;h4style&quot; style=&quot;text-align: justify;&quot;&gt;&lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/payment-plans.asp&quot;&gt;IRS Payment Plans&lt;/a&gt;&lt;/h2&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;        &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;If you can&#39;t pay your back taxes in full but could potentially pay them back over time, you can negotiate a reasonable monthly payment plan with the IRS. Once an IRS Payment Plan (also known as an Installment Agreement) is established, the IRS will not enforce collection action, including the levy of bank accounts or wages, as long as the taxpayer remains current with all filing and payment obligations.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;h2 class=&quot;h4style&quot; style=&quot;text-align: justify;&quot;&gt;&lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/delinquent-tax-returns.asp&quot;&gt;Delinquent Tax Returns&lt;/a&gt;&lt;/h2&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;        &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;To qualify for an IRS payment plan or Offer in Compromise tax settlement to resolve your back taxes, you need to file all delinquent tax returns with the IRS. Regardless of what you have heard, you have the right to file your original tax return, no matter how late it&#39;s filed. Until you have filed all legally required tax returns, the IRS will not entertain any type of tax settlement or payment plan to settle your back taxes. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;h2 class=&quot;h4style&quot; style=&quot;text-align: justify;&quot;&gt;&lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/expiration-of-back-taxes-IRS-statute-of-limitations.asp&quot;&gt;Expiration of Statutes of Limitations&lt;/a&gt;&lt;/h2&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;The IRS is not able to collect on expired back taxes. The IRS has 10 years from the date of assessment (usually close to the filing date) to collect back taxes. An expert tax attorney, tax CPA or tax resolution specialist can help resolve your back taxes and IRS problems by just by advising and strategizing with your to wait out the 10 year expiration date. We accomplish this by obtaining and analyzing your IRS Tax Transcripts and Records of Account.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;h2 class=&quot;h4style&quot; style=&quot;text-align: justify;&quot;&gt;&lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/bankruptcy.asp&quot;&gt;Bankruptcy&lt;/a&gt;&lt;/h2&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;As a last resort for resolving back taxes, you can file for bankruptcy if the IRS rejects your IRS Payment Plan or Offer in Compromise. However, only a seasoned tax attorney, CPA or Certified Tax Resolution Specialist can provide tax help to show you the proper sequence of events to declare bankruptcy and completely eliminate all of your back taxes, if you are eligible. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;h2 class=&quot;h4style&quot; style=&quot;text-align: justify;&quot;&gt;&lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/IRS-offshore-accounts-tax-settlements.asp&quot;&gt;Offshore Bank Accounts: IRS Tax Settlements&lt;/a&gt;&lt;/h2&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;If you owe back taxes on undeclared funds in overseas bank accounts, being proactive about disclosing your foreign funds can help reduce your chances of criminal prosecution, minimize severe IRS penalties and work out a structured IRS payment plan. If you believe that you owe back taxes on your foreign accounts, you will need a &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/about-us.asp&quot;&gt;tax attorney&lt;/a&gt; or certified tax resolution specialist to provide professional &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/tax-help-services.asp&quot;&gt;tax help&lt;/a&gt; and experienced representation to proceed in your best interest.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;h2 class=&quot;h4style&quot; style=&quot;text-align: justify;&quot;&gt;&lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/tax-relief-for-innocent-spouses.asp&quot;&gt;Innocent Spouse Tax Relief&lt;/a&gt;&lt;/h2&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;If you owe back taxes due to your spouse&#39;s (or ex-spouses) actions, you may be eligible to obtain tax relief by qualifying as an innocent spouse. This means that if you can prove you are an innocent spouse, as defined by the Internal Revenue Code, the IRS can relieve you of this debt and obtain &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/&quot;&gt;tax relief&lt;/a&gt;, you may not be subject to the taxes caused by their spouses or ex-spouses. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;h2 class=&quot;h4style&quot; style=&quot;text-align: justify;&quot;&gt;&lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/investment-fraud-representation.asp&quot;&gt;Investment Fraud Representation&lt;/a&gt;&lt;/h2&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;        &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;If you owe back taxes paid on phantom profits from a fraudulent investment scheme (&quot;Ponzi&quot; Scheme), you may be eligible to take advantage the United States Tax Code (law) to recoup 30% to 40% of your losses. This highly technical and complex process can help you reduce taxes paid in previous years resulting in refund with interest.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;h2 class=&quot;h4style&quot; style=&quot;text-align: justify;&quot;&gt;&lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/payroll-tax-problems.asp&quot;&gt;Payroll Tax Problems&lt;/a&gt;&lt;/h2&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;         &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;If you owe back taxes on delinquent payroll and employment taxes, it is important to resolve payroll tax debt problems swiftly to protect the future of your company since the IRS assigns a higher priority to collecting employment taxes than income taxes. We&#39;ve helped businesses across the nation permanently resolve payroll problems and back taxes.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;h2 class=&quot;h4style&quot; style=&quot;text-align: justify;&quot;&gt;&lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/freedom-of-information-requests.asp&quot;&gt;Freedom of Information Requests&lt;/a&gt;&lt;/h2&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;        &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;It is important to understand how the IRS has assessed back taxes and penalties against you. You have the right to see governmental documents, including your IRS files, to better understand your IRS problems. The IRS must disclose the information used to assess back taxes and interest against taxpayers.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;                 &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  89. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;b&gt;Why hire a Tax Attorney or Certified Tax Resolution Specialist?&lt;/b&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;While taxpayers may always represent themselves before the IRS to resolve &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/irs-back-taxes.asp&quot;&gt;back taxes&lt;/a&gt; and &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/irs-help.asp&quot;&gt;IRS problems&lt;/a&gt;, many taxpayers find dealing with the IRS frustrating, time-consuming, intimidating or all of the above and so they make the decision to hire professional &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/tax-help-services.asp&quot;&gt;tax help&lt;/a&gt; (specialized &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/about-us.asp&quot;&gt;tax attorney&lt;/a&gt;, tax resolution firm, etc.) to negotiate a &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/tax-relief-consultation.asp&quot;&gt;tax relief&lt;/a&gt; settlement with the IRS on their behalf.&lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/8224501501203312511/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/settle-tax-debt-and-irs-problems.html#comment-form' title='2 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/8224501501203312511'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/8224501501203312511'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/settle-tax-debt-and-irs-problems.html' title='Settle Tax Debt and IRS Problems'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>2</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-2794097909678742597</id><published>2010-09-25T16:21:00.002+07:00</published><updated>2010-09-25T16:21:35.173+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="Resolving"/><title type='text'>What to Expect When Resolving Your Tax Debt</title><content type='html'>&lt;div style=&quot;text-align: justify;&quot;&gt;Many of our clients who retain our &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/tax-help-services.asp&quot;&gt;tax help services&lt;/a&gt; are interested in knowing how their life will change and when they can expect these changes to happen. Upon retaining our firm to resolve your tax debt, some of the relief will be instant and some will be over time. It is important to keep in mind that IRS problems don&#39;t start overnight and can take some time to resolve. The good news is that you don&#39;t have to worry anymore and your IRS problem will be resolved.&lt;/div&gt;&lt;div&gt;       &lt;/div&gt;&lt;h4 style=&quot;text-align: justify;&quot;&gt;ROAD MAP TO RESOLUTION&lt;/h4&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;u&gt;Free Consultation&lt;/u&gt;: If you have never been a client of ours, the first step is to call or come in for your &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/tax-relief-consultation.asp&quot;&gt;free consultation&lt;/a&gt;. At this meeting, an experienced Tax Consultant will evaluate your situation and discuss the available options for resolving the matter. This generally takes about an hour; however, there are times where the information provided at this meeting is not sufficient to determine a course of action.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;div style=&quot;padding-left: 10px; text-align: justify;&quot;&gt;1.  &lt;u&gt;Retaining Tax Resolution Services&lt;/u&gt;: At the end of your free consultation, you will be given the opportunity to retain us as your tax representative. You will be required to sign a Retainer Agreement letter and make financial arrangements in order to pay for our tax help services. We will file a &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/tax-help-glossary.asp#43&quot;&gt;Power of Attorney&lt;/a&gt; (POA) with the IRS. This will provide you with immediate relief because from this point on the IRS will be required to contact us instead of you. If they should happen to contact you, all you need to do is politely request that they contact TRS directly and provide them with our phone number. A separate POA may be required for any State problem.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;div style=&quot;padding-left: 10px; text-align: justify;&quot;&gt;2.  &lt;u&gt;Beginning the Tax Resolution Process&lt;/u&gt;: You will be assigned a case manager who is in charge of your case. All of our case managers are extremely qualified and are a &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/tax-help-glossary.asp#&quot;&gt;Tax Attorney&lt;/a&gt;, Certified Public Accountant (CPA) or an Enrolled Agent (EA). Together we&#39;will develop a strategy for resolving your case and advise you on what steps to take for the most effective resolution. Your case manager is available to you by direct dial phone, individual e-mail, or in person. At TRS we employ the team approach to resolving your tax debt. Our case managers are supported by a staff of experienced technical specialists, who from time to time, may have contact with you as well regarding your case.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;div style=&quot;padding-left: 10px; text-align: justify;&quot;&gt;3.  &lt;u&gt;IRS Compliance&lt;/u&gt;: Generally before any tax resolution can be negotiated, you must become a compliant taxpayer. Your case manager is experienced in what must be done to achieve this and will advise you accordingly. For the most part you must file &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/delinquent-tax-returns.asp&quot;&gt;delinquent tax returns&lt;/a&gt; and demonstrate that you are keeping up with your current tax payments. For those of you that have incomplete records, TRS has developed methods for completing the preparation of tax returns in order to get them filed.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;div style=&quot;padding-left: 10px; text-align: justify;&quot;&gt;4.  &lt;u&gt;Tax Settlement Negotiation&lt;/u&gt;: We will propose a plan of resolution to the IRS that you can live with and see through to acceptance. We have a high &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/IRS-tax-relief-success-rate.asp&quot;&gt;tax relief success rate&lt;/a&gt; and pride ourselves in obtaining the best settlement for you under the law. However, it is rare that a proposal is accepted right away. Through diligence, persistence and follow-up our knowledgeable staff will monitor, provide additional information to the IRS as needed, and negotiate your proposed resolution until acceptance is gained.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;div style=&quot;padding-left: 10px; text-align: justify;&quot;&gt;5.  &lt;u&gt;Tax Resolution is Reached&lt;/u&gt;: We will review the final resolution of your case by the IRS to make sure it is as agreed upon. If not, we will insist that it be changed to reflect what was agreed to. If the IRS is unwilling to do this, we will advise you as to what your options are for the next step. Finally you will be advised on what you must do in order to succeed with your resolution and avoid future tax problems.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;       &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Get Tax Help Now, Call 866-IRS-PROBLEMS for a &lt;a href=&quot;http://www.taxresolution.com/tax-relief-consultation.asp&quot;&gt;Free Tax Relief Consultation&lt;/a&gt;!&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;          &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  90. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;b&gt;Why hire a Tax Attorney or Certified Tax Resolution Specialist?&lt;/b&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;While taxpayers may always represent themselves before the IRS to resolve &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/irs-back-taxes.asp&quot;&gt;back taxes&lt;/a&gt; and &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/irs-help.asp&quot;&gt;IRS problems&lt;/a&gt;, many taxpayers find dealing with the IRS frustrating, time-consuming, intimidating or all of the above and so they make the decision to hire professional &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/tax-help-services.asp&quot;&gt;tax help&lt;/a&gt; (specialized &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/about-us.asp&quot;&gt;tax attorney&lt;/a&gt;, tax resolution firm, etc.) to negotiate a &lt;a class=&quot;blue-link&quot; href=&quot;http://www.taxresolution.com/tax-relief-consultation.asp&quot;&gt;tax relief&lt;/a&gt; settlement with the IRS on their behalf.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  91. &lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/2794097909678742597/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/what-to-expect-when-resolving-your-tax.html#comment-form' title='0 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/2794097909678742597'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/2794097909678742597'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/what-to-expect-when-resolving-your-tax.html' title='What to Expect When Resolving Your Tax Debt'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>0</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-6509980019893002224</id><published>2010-09-24T18:12:00.000+07:00</published><updated>2010-09-24T18:12:16.817+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="Delinquent Tax Returns"/><title type='text'>Delinquent Tax Returns</title><content type='html'>&lt;div style=&quot;text-align: justify;&quot;&gt;Many people use the head in the sand strategy when they fail to file tax returns for a particular year. They are so terrified of the IRS that they just stop filing. This is a fundamental mistake and fails to take into account the real view of the IRS on delinquent tax returns.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Starting in the late 90’s, the IRS underwent a complete shift in philosophy when it came to dealing with taxpayer issues. Essentially, the agency stopped spending hundreds of hours of manpower to collect a few thousand dollars in taxes. Instead, the IRS came to the conclusion it was better in the long run to simply get taxpayers back into the system. This philosophy applies to delinquent tax returns, to wit, the IRS is more interested in getting you back in the system than beating you into the ground. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;a href=&quot;http://www.taxreliefheadquarters.com/3235/display.ilp&quot;&gt;&lt;strong&gt;Need Help with IRS Problems? &lt;br /&gt;
  92. Click Here To Talk to a Tax Professional&lt;/strong&gt;&lt;/a&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;If you haven’t filed tax returns for a few years, the first step is to have returns prepared for those years. You may have excellent records for those years, but this is fairly unlikely. If you don’t, you can request copies of W-2s and income statements from the IRS, which essentially totals the income the IRS has on record for you for a particular year. Using these figures, tax returns can be prepared and filed. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;If you continue to do nothing regarding delinquent tax returns, the IRS will eventually take action. The agency will first create and file a substitute return. This return is created using all the income sources reported to the IRS by employers, vendors and so on. The IRS then assumes you are single with no dependents and uses the standard deduction for the relevant year in determining the outstanding tax due. Once the tax assessment is made, the IRS will start pursuing your assets through liens, levies and garnishments. This means your bank account can be frozen, massive percentages taken from your paycheck and so on. The point being that you do not want to let delinquent tax return problems grow. You must deal with these issues and not procrastinate.&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Once you’ve created tax returns for the missing years, you may realize you don’t have the money to pay the taxes. The IRS acknowledges this situation occurs frequently and will set up a payment plan for the repayment of overdue taxes. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;In dealing with delinquent taxes, we strongly encourage you to use a tax professional with experience in the field. Tax attorneys and CPAs are the best option and should save you far more money in taxes than they will charge you. An additional advantage of going this direction is you will not have to speak with the IRS. The tax professional will handle everything, which brings peace of mind to a lot of people. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Delinquent tax returns are not the end of the world. The key to overcoming the problem is to take steps before the IRS does. Delinquent tax returns can add unnecessary stress to your life. If you do something about them, you’ll find the process is fairly painless.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  93. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  94. &lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/6509980019893002224/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/delinquent-tax-returns.html#comment-form' title='0 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/6509980019893002224'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/6509980019893002224'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/delinquent-tax-returns.html' title='Delinquent Tax Returns'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>0</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-6504049418492670515</id><published>2010-09-24T18:10:00.002+07:00</published><updated>2010-09-24T18:10:49.617+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="Unfiled Returns"/><title type='text'>Unfiled Returns</title><content type='html'>&lt;div style=&quot;text-align: justify;&quot;&gt;There are numerous practical reasons to file tax returns. Whether buying a home or financing a business, copies of filed returns must be submitted to the lending institution. Social Security retirement and disability benefits as well as Medicare are all computed based on a person’s lifetime earnings reported to the IRS and the Social Security Administration. State benefits such as unemployment compensation and industrial insurance are also based on reported income.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Why do otherwise law-abiding, conscientious citizens suddenly stop filing federal income tax returns? IRS research has shown taxpayers first fail to file a return in a year when circumstances change.&amp;nbsp; For either emotional or financial reasons (or a combination of both), they are unable to prepare and file a return.&amp;nbsp; The reason might even be procrastination. Whatever the reason, failure to take corrective action only compounds the problem. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;When the next year’s return is due, the taxpayer faces a dilemma. Will filing call attention to them?&amp;nbsp; What about the forms needed to prepare the earlier return?&amp;nbsp; What about the financial burden of paying taxes due in previous years?&amp;nbsp; What if they have lost some of the records needed to prepare the earlier return?&amp;nbsp; There is also the stress of worrying about being discovered by the IRS.&amp;nbsp;&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;The IRS continues to improve its database of income transactions and increase its ability to identify people who have a filing requirement but have failed to file a return.&amp;nbsp; Eventually, contact will be made and the correct tax liability computed.&amp;nbsp; By this time, however, the original tax bill will be multiplied many times by the addition of interest and penalties.&amp;nbsp; The IRS also has a wide range of civil and criminal sanctions available that can be imposed on persons who fail to file returns.&amp;nbsp; From any perspective, the consequences of failing to file returns are just not worth it!&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;The law allows the IRS to file a substitute return for people who do not voluntarily file.&amp;nbsp; A series of letters is first sent explaining the possible action and the recourse available.&amp;nbsp; If no return or other indication of disagreement such as a request to exercise appeal rights is received, the IRS proceeds with filing a basic return that does not include any additional exemptions or expenses a person may be entitled to.&amp;nbsp; If the IRS has already filed a substitute return, it is still recommended the person file their own return to claim any additional items.&amp;nbsp; The individual’s account will generally be adjusted to reflect the correct figures&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Another reason to file is because the clock is running on any refunds due. In cases where a return was not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a refund. If no return is filed to claim the refund within the three years, the money becomes the property of the U.S. Treasury. After the expiration of the refund statute, not only does the law prevent the issuance of a refund check, it also prevents the application of any credits, including overpayments of estimated or withholding taxes, to other tax years that are underpaid. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;On the other hand, the statute of limitations for IRS to assess and collect any outstanding balances does not start until a return has been filed. In other words, there is no statute of limitations for assessing and collecting the tax if no return has been filed. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;So, what should a person do who has one or more unfiled tax returns? They should immediately contact a tax professional or the IRS and get the delinquent returns filed. Failure to take prompt corrective action only compounds the problem! The fact that you don’t have the money to pay should not stop you from acting. The IRS has payment plans and other options available. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Whatever you do, take action before the IRS comes knocking. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  95. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  96. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  97. &lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/6504049418492670515/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/unfiled-returns.html#comment-form' title='0 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/6504049418492670515'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/6504049418492670515'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/unfiled-returns.html' title='Unfiled Returns'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>0</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-967449913345469221</id><published>2010-09-24T18:09:00.002+07:00</published><updated>2010-09-24T18:09:48.128+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="Deceased Tax Returns"/><title type='text'>Deceased Tax Returns</title><content type='html'>&lt;div style=&quot;text-align: justify;&quot;&gt;If a person dies, their finances are immediately converted into something called an estate. The estate is then responsible for filing a tax return covering the finances including income and distributions to heirs and beneficiaries. However, a final personal tax return must still be filed for the deceased.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;The final personal tax return for the deceased is known as Form 1040. Yep, you file the same tax form as you would for any personal tax return. It is hard to believe the IRS passed up an opportunity to create another form, but there you go. Miracles do happen. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;When determining the income and taxes due for a person who passes away, the date of death is the cutoff. All income earned before that date for the year goes on the personal tax return. All income earned after death is the responsibility of the estate and will be reported on the estate tax return.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;As to deductions, there is good news. Regardless of the time of the year when the grim event occurs, you can claim the full deduction for the year and any other expenses that occur prior to death. Put another way, you don’t have to calculate any ratios based on the number of months that have passed. If someone passes away in February, you still get the full write-offs for the rest of the year. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;When a person passes away, an executor or trustee will be in charge of their estate. The exact designation depends on what type of estate planning they did. Nonetheless, this person will sign the tax return and note the person is deceased. This should take care of everything with the IRS excluding the estate tax return.&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;What happens if the deceased is due a tax refund? In such a situation, the IRS will not just kick out a refund unless the deceased was married. If married, the refund is sent to the spouse. If not, you must file a Form 1310 to get the refund. This form basically says you are claiming the refund, have the right to do so and absolve the IRS of any involvement in subsequent disputes. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  98. &lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/967449913345469221/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/deceased-tax-returns.html#comment-form' title='0 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/967449913345469221'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/967449913345469221'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/deceased-tax-returns.html' title='Deceased Tax Returns'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>0</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-6075419692812392813</id><published>2010-09-23T16:12:00.000+07:00</published><updated>2010-09-23T16:12:26.673+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="IRS Debt Tax Attorney"/><title type='text'>IRS Debt Tax Attorney</title><content type='html'>&lt;div style=&quot;text-align: justify;&quot;&gt;The IRS has only one interest when it comes to you – your bank account! Fighting the IRS is difficult, which is why a quality IRS debt tax attorney is so important to prevailing. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; The tax code and regulations interpreting it exceed well over 50,000 pages. Former President Jimmy Carter called the code and regulations a crime against humanity. Whether you are a conservative or liberal, I think we can all agree on that assertion when we are trying to fill out our taxes!&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;The IRS wields the tax code and regulations like a sword when it goes after taxpayers. Tax issues are so confusing that even the most sophisticated individual has no chance when battling agents. This is where a tax attorney can make a huge difference in bringing an end to your tax problems without also bringing an end to your bank account. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; Taxes are so complicated, that attorneys actually specialize in the field. A quality tax attorney knows the codes inside out as well as the regulations interpreting them. This makes a world of difference when you sit down in front of an IRS agent who is ready to go back and forth on code sections.&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;An additional benefit to a tax attorney has to do with evidence. Anything your tax attorney says is not evidence. Anything you say is. Given this, most tax attorneys take the lead in brawling with the IRS and tell you, the client, to shut up unless the attorney tells you otherwise. This is a very smart approach as it keeps you from making statements that end up getting you into more trouble than when you started. In fact, most tax attorneys won’t even let you go to meetings with the IRS!&lt;/div&gt;&lt;div&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Owing a debt to the IRS is not a good situation to be in. The Agency does not go away. It will also take steps that are simply brutal. It will clean out your bank account. It will garnish your wages. It is a nightmare. If you have tax problems, don’t stick your head in the sand. They are not going to go away. Speak with a tax attorney immediately. The consultations are free, so you can find out where you stand on your IRS debt without risking anything. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  99. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&amp;nbsp;source : &lt;a href=&quot;http://www.businesstaxrecovery.com/&quot;&gt;http://www.businesstaxrecovery.com/&lt;/a&gt;&lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/6075419692812392813/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/irs-debt-tax-attorney.html#comment-form' title='1 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/6075419692812392813'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/6075419692812392813'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/irs-debt-tax-attorney.html' title='IRS Debt Tax Attorney'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>1</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-8754322646590493216</id><published>2010-09-23T16:10:00.000+07:00</published><updated>2010-09-23T16:10:04.158+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="Penalties for Tax Evasion"/><title type='text'>Penalties for Tax Evasion</title><content type='html'>&lt;div style=&quot;text-align: justify;&quot;&gt;Nothing gets IRS agents frothing at the mouth more than a good tax evasion case. If you get nailed for tax evasion, what kind of penalties are you looking at? &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; You can take every possible legal step to minimize your taxes and a court will tell the IRS to take a hike if it challenges the steps. Fall over the line into illegal maneuvers, however, and you are facing charges of tax evasion. In such a situation, you are in for a very bad experience.&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;What are the penalties for tax evasion? Let’s start with the grey motel – jail. Yes, a single count for tax evasion carries a sentence of up to 5 years in jail. Most tax evasion cases come with multiple counts. Helio Castroneves faces six counts at the time this article is being written. If convicted, he faces 30 years in jail. That is a long time. With good behavior, years will be trimmed off. That being said, do you really want to spend even a day in jail? &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; The other side of penalties for tax evasion is financial. First, you are going to have to pay the back taxes along with penalties and interest. As a general rule, just double up whatever you were hiding and start adding money from there. Yes, that’s a lot of cash to come up with, particularly if you are sitting in jail!&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;On top of that amount, you are also going to face fines for committing a crime. These usually run in the $250,000 range for each act of evasion. Much of the total penalty is dependent on the circumstances of the case, to wit, whether you come forward and voluntarily report the situation or fight the process through to the bitter end. &lt;/div&gt;&lt;div&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;The penalties for tax evasion are pretty extreme. All and all, you would be best to avoid risking them. If you have any doubts of the consequences, sit down with a criminal attorney to find out more about the consequences. It will most likely scare you straight as they say. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  100. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&amp;nbsp;source :&lt;a href=&quot;http://www.businesstaxrecovery.com/&quot;&gt;http://www.businesstaxrecovery.com&lt;/a&gt;&lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/8754322646590493216/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/penalties-for-tax-evasion.html#comment-form' title='0 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/8754322646590493216'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/8754322646590493216'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/penalties-for-tax-evasion.html' title='Penalties for Tax Evasion'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>0</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-1275932524664702833</id><published>2010-09-23T16:08:00.000+07:00</published><updated>2010-09-23T16:08:46.850+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="What is Tax Evasion?"/><title type='text'>What is Tax Evasion?</title><content type='html'>&lt;div style=&quot;text-align: justify;&quot;&gt;Paying taxes is not much fun for anyone. There is a legal way to minimize the amount you pay as well as an illegal way. This raises the question of what is tax evasion? &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; The concept of tax in the United States is based on a pretty simply statement. If you earned it, you have to pay tax on it unless there is some provision of the tax code that allows you a discount. The mortgage interest tax deduction would be an example of such a provision.&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;This overall view means that it does not matter how you earned the money or even where. If you sold illegal drugs, technically you are supposed to pay taxes on the money produced. If you live and work in Japan full time, you still have to pay US taxes even though you never step foot in the United States. Obviously, there is a tax provision that minimizes this tax or nobody would work outside the US, but you get my point. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; The concept of using every legal means at your disposal to minimize your tax liability is known as “tax avoidance.” What is tax evasion? It is when you step over the line and start using illegal methods for minimizing your tax liability. Let’s consider an example.&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Let’s say I run a car detailing business. I do all the work myself. Many of my clients pay me in cash. At the end of the year, I am supposed to total up all of my revenues including the cash, report it to the IRS and pay the appropriate taxes. If I don’t report all or part of the cash, then I am illegally pursuing a tax evasion scheme. &lt;/div&gt;&lt;div&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Tax evasion carries some stiff penalties. Remember, the IRS is matching your reported income to your bank account balances and other informational reports it receives. This makes it fairly easy for them to nail you. Sitting in jail with some very rough people because you cheated on your taxes is a pretty stupid thing to do, so don’t.&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;source : &lt;a href=&quot;http://www.businesstaxrecovery.com/&quot;&gt;http://www.businesstaxrecovery.com&lt;/a&gt; &lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/1275932524664702833/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/what-is-tax-evasion.html#comment-form' title='0 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/1275932524664702833'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/1275932524664702833'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/what-is-tax-evasion.html' title='What is Tax Evasion?'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>0</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-5316625632173223218</id><published>2010-09-22T20:24:00.000+07:00</published><updated>2010-09-22T20:24:05.357+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="Streamlined Sales Tax Project"/><title type='text'>Streamlined Sales Tax Project</title><content type='html'>&lt;div style=&quot;text-align: justify;&quot;&gt;The United States Supreme Court has overruled state efforts to  collect sales tax from internet businesses because of the burden  involved. The Streamlined Sales Tax project aims to fix that. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; In cases like Bellas v. Illinois and Quill Corp. v. North Dakota, the  United States Supreme Court has repeatedly put an end to the efforts of  states to collect sales tax from internet sites that sell products to  people in their state. The primary reason for this is the incredible  burden it places on the websites. The burden would include:&lt;/div&gt;&lt;ul style=&quot;text-align: justify;&quot;&gt;&lt;li&gt;tracking your sales for customers in fifty states, &lt;/li&gt;
  101. &lt;li&gt;figuring out the sales tax rates for each state, &lt;/li&gt;
  102. &lt;li&gt;creating a program with each rate for each state,&lt;/li&gt;
  103. &lt;li&gt;collecting and partitioning the sales tax for each transaction, &lt;/li&gt;
  104. &lt;li&gt;figuring out how to file returns for each state, &lt;/li&gt;
  105. &lt;li&gt;preparing the returns for each state, &lt;/li&gt;
  106. &lt;li&gt;filing and paying the tax for each state. &lt;/li&gt;
  107. &lt;/ul&gt;&lt;div&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;As if that wasn’t bad enough, now you have to go through and break  out the sales tax and use tax for each county, city and town  jurisdiction. At last count, there were over &lt;strong&gt;&lt;em&gt;&lt;u&gt;11,000  different ones&lt;/u&gt;&lt;/em&gt;&lt;/strong&gt;. That’s a lot of tax returns!&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;The states have finally stopped trying to convince the Supreme Court  to reverse itself. Now they are trying to come up with a solution to the  burden issue. The Streamlined Sales Tax Project is the most popular  option at the moment. As economic times get tougher, more and more  states are giving serious thought to joining it. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;The Streamlined Sales Tax Project was started in 2000. As the name  suggests, the goal is to create a simplified and uniform tax filing  basis for the sales tax on internet sales. So far, 21 states have  amended their laws in accordance with the Project. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;The interesting thing about the project is what it is not – a  success. In nine years, it has only been able to get 21 states on board.  That can only be looked at as a brutal failure. The “SSTP” must have  all of the states on board before it can hope for the Supreme Court to  reverse itself. It looks like that event is going to be a very long way  off.&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;source : &lt;a href=&quot;http://www.businesstaxrecovery.com/&quot;&gt;http://www.businesstaxrecovery.com/&lt;/a&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  108. &lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/5316625632173223218/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/streamlined-sales-tax-project.html#comment-form' title='1 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/5316625632173223218'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/5316625632173223218'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/streamlined-sales-tax-project.html' title='Streamlined Sales Tax Project'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>1</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-8802130700309576444</id><published>2010-09-22T20:23:00.000+07:00</published><updated>2010-09-22T20:23:12.914+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="The Internet Sales Tax Issue"/><title type='text'>The Internet Sales Tax Issue</title><content type='html'>&lt;div style=&quot;text-align: justify;&quot;&gt;There is a golden egg floating out there for the tax man – the  Internet. The issue of how to deal with the Internet sales tax has been  an issue of great debate, so let’s take a closer look. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; The internet sales tax issue is primarily a state issue. Most states  charge a sales tax on everything sold in the state. When you head down  to the dealer and buy a car, you pay sales tax. When you go to the store  to buy groceries, you pay sales tax. When you buy a book at a bookstore  in a mall, you pay sales tax. This is a huge revenue source for most  states.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Now consider the internet. It is a digital environment. This means  each “store” on the web really doesn’t exist anywhere. At best, you  could say the individual person or company that owns the site exists in  some physical location. For instance, the company that owns this site is  in San Diego, California. &lt;/div&gt;&lt;div&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;This location issue is a huge problem when it comes to sales tax  collection. Why? A state can only collect taxes on sales that occur in a  state. Moreover, a state can only force a company to collect sales tax  if the company has a physical presence in the state. If you buy a book  at a bookstore in a mall, sales tax is collected. If you buy it at  Amazon.com online, it is not. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;As you might imagine, this drives the politicians out of their minds.  The first thing they did to deal with it was to pass laws stating that  any company that sold products in the state had to collect and pay sales  taxes. The online companies objected to this because it meant that they  would literally have to collect and pay sales tax in each of the 50  states. That meant a huge administrative burden ranging from keeping the  money straight to figuring out the sales tax returns for each state. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;As you might imagine, this dispute ended up in court. Eventually, it  made its way to the highest court in the land – the Supreme Court. After  hearing arguments, the Supreme Court agreed with the online retailers  and barred all of the state collection efforts in two decisions - Bellas  Hess v. Illionis and Quill Corp. v. North Dakota. At the same time,  however, the Court indicated the states could collect sales tax if they  could agree to a unified method that would not be burdensome to online  businesses.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;The states have yet to agree on any uniform collection system. With  money really tight, we are seeing some progress. The states are now  thrashing around with something called the “Streamlined Sales Tax  Project”. It is an effort to create a unified, simple method for online  businesses to collect and pay sales taxes. As of the writing of this  article, 20 plus states have joined on and some retailers are  voluntarily doing so as well. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Ultimately, the sales tax issue is one that is going to be hotly  debated over the next few years. It is also going to be an issue that  ends up in court repeatedly. Make sure to bookmark our “internet tax”  section to see the latest developments.&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;source : &lt;a href=&quot;http://www.businesstaxrecovery.com/&quot;&gt;http://www.businesstaxrecovery.com&lt;/a&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  109. &lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/8802130700309576444/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/internet-sales-tax-issue.html#comment-form' title='1 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/8802130700309576444'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/8802130700309576444'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/internet-sales-tax-issue.html' title='The Internet Sales Tax Issue'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>1</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-5846034950843376029</id><published>2010-09-22T08:47:00.000+07:00</published><updated>2010-09-22T08:47:13.044+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="IRS Tax Debt"/><title type='text'>IRS Tax Debt</title><content type='html'>&lt;div style=&quot;text-align: justify;&quot;&gt;There are many different types of debt you can owe. IRS tax debt is the worst bar none. Why? You cannot get rid of it in bankruptcy and the IRS will hunt you endlessly. &lt;/div&gt;&lt;div&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;The government is very forgiving in many ways. Collecting its revenues is not one of those areas. The laws are set up to give it all the power and you, the taxpayer, none. Tax debt is not dischargeable in bankruptcy, the only such debt that gets this kind of treatment. As a result, your tax problems will never go away.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;a href=&quot;http://www.taxreliefhq.com/21185/&quot;&gt;&lt;strong&gt;&lt;br /&gt;
  110. &lt;/strong&gt;&lt;/a&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;  &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;So, what’s another debt? The last few years have seen an economic environment that has been challenging to say the least. With real unemployment rates at nearly 17 percent, people have been walking away from their debts at shocking rates. While this works with personal debt, tax debt is different. Not only can’t you get rid of it, but the IRS becomes very aggressive when it goes after it. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;What with the IRS do? Well, it is a cornucopia of nightmares. The agency usually starts off by filing a lien against any property you have. This makes it impossible to sell for the most part. The Agency will then look for your bank account and suck all the cash out of it. The next step is to hunt down your place of employment. Why? The IRS is going to garnish your wages. These there steps will be applied time and time again until the tax debt is paid. It can take years…very painful years.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;a href=&quot;http://www.taxreliefhq.com/21185/&quot;&gt;&lt;strong&gt;&lt;br /&gt;
  111. &lt;/strong&gt;&lt;/a&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;  &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Is there anything you can do to deal with IRS tax debts? Yes. The Agency has a completely different view if you proactively address your debts. Are you going to get off by paying a penny on the dollar like you see in certain television advertisements? Please. We are talking about the IRS here. Why would the Agency ever agree to such arrangements? They won’t, but good representation can get your tax debt reduced substantially and a payment plan put in place that you can live with. As long as you stick with it, the Agency will leave you alone. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Don’t let tax debts sit and fester. You’ll be the worse for it when the IRS comes calling. Speak with a tax professional today and get the matter taken care of before it becomes a complete nightmare.&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;source : &lt;a href=&quot;http://www.businesstaxrecovery.com/&quot;&gt;http://www.businesstaxrecovery.com&lt;/a&gt; &lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/5846034950843376029/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/irs-tax-debt.html#comment-form' title='1 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/5846034950843376029'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/5846034950843376029'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/irs-tax-debt.html' title='IRS Tax Debt'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>1</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-7734902858003148163</id><published>2010-09-22T08:45:00.000+07:00</published><updated>2010-09-22T08:45:23.420+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="Filing Late Taxes"/><title type='text'>Filing Late Taxes</title><content type='html'>&lt;div style=&quot;text-align: justify;&quot;&gt;The Internal Revenue Service is a bit touchy about filing tax returns. It would prefer you to file a return or extension to doing nothing, even if will be filing late taxes. If worse comes to worse, the IRS will simply put you on a payment plan. Failing to file anything, however, can lead too more unwanted attention from the agency than you could possible want to receive.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;In general, you should always try to pay your taxes whenever possible. Failure to do so can lead to brutal penalties and interest charges. If the IRS thinks you are up to something funny, the penalties and interest can add up to 25 percent of your tax bill. That is a big chunk of change!&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;a href=&quot;http://www.taxreliefheadquarters.com/3235/display.ilp&quot;&gt;&lt;strong&gt;&lt;/strong&gt;&lt;/a&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;If you are due a refund, but just did not get around to filing your taxes, you do not have to worry about penalties and interest. There are none since you are owed money. That being said, are you nuts? Why would you give the government an interest free loan? What could you be using that money for in your daily life? Get off the couch and get a return filed so you can get your money back. For obvious reasons, few people let refunds sit at the IRS. If you are insanely lazy, keep in mind you will lose the refunds if you do not claim them within three years of the original filing date. Frankly, you deserve to if you are that lazy!&lt;br /&gt;
  112. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  113. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;If you owe taxes and do not have the cash, there may be an alternative you can use. To the surprise of many, the IRS accepts credit cards as a payment method. With high interest rates, credit cards are not a great option. On the other hand, credit card companies cannot audit you!&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;The IRS understands that a certain percentage of taxpayers may not be able to pay all of their taxes. Filing late taxes will not result in an IRS attack. The key to keeping the agency off your back is to file the return even if you cannot pay. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  114. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&amp;nbsp;source : &lt;a href=&quot;http://www.businesstaxrecovery.com/&quot;&gt;http://www.businesstaxrecovery.com&lt;/a&gt;&lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/7734902858003148163/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/filing-late-taxes_22.html#comment-form' title='1 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/7734902858003148163'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/7734902858003148163'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/filing-late-taxes_22.html' title='Filing Late Taxes'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>1</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-1114699037169376712</id><published>2010-09-21T17:33:00.000+07:00</published><updated>2010-09-21T17:33:11.325+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="IRS Dispute Lawyer"/><title type='text'>IRS Dispute Lawyer</title><content type='html'>&lt;div align=&quot;justify&quot;&gt;Whether you’ve failed to pay taxes for a few years, are being audited or are just having problems with the IRS, it is important to understand that you are dealing with a ferocious force. The IRS is charged with collecting federal taxes and the IRS agents take the job seriously. You can expect them to be intimidating and extremely aggressive in trying to get into your tax records. Frankly, fighting the IRS is one of the worst experiences many people ever suffer.&amp;nbsp;&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;If the IRS comes calling, you do not have to suffer through the misery of dealing with IRS agents. There is absolutely no reason you should ever meet with anyone from the IRS. Instead, you should retain an IRS dispute lawyer to represent you. &lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;There are significant benefits to retaining an IRS dispute lawyer. First, the lawyer will become the communication contact for the IRS, meaning you do not have to talk to agents. This, of course, prevents the IRS from intimidating you and asking for information the agency has no right to see. Further, the IRS dispute attorney is going to be familiar with your rights and put the IRS in its place if it tries to overstep. &lt;/div&gt;&lt;div align=&quot;center&quot;&gt;&lt;a href=&quot;http://www.taxreliefheadquarters.com/3235/display.ilp&quot;&gt;&lt;strong&gt;&lt;br /&gt;
  115. &lt;/strong&gt;&lt;/a&gt;&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;Perhaps most important, an IRS dispute lawyer is on your side. The IRS specializes in tax disputes. You do not. An IRS dispute lawyer does. This effectively means the lawyer can give you advice on the best strategy to pursue and his or her impression on the potential incomes. Shockingly, many taxpayers make the mistake of listing to IRS agents when deciding what to do. This almost always results in the taxpayer making a bad deal. An tax lawyer is going to prevent this from happening. &lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;When hiring an IRS dispute lawyer, you need to focus on the following issues. &lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;1. Specialization – Does the prospective lawyer deal primarily with IRS disputes? &lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;2. Comfort – Tax issues invariably are stressful and you are going to have to disclose vital information to the lawyer. Are you comfortable with doing so and the lawyer in general?&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;3. Licensing – Is the lawyer licensed? Do an Internet search for “[your state] Bar Association” and look them up in the licensing section of the site. Have there been any complaints against the lawyer?&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;4. Fees – How does the lawyer bill you and for what. Get it in writing and get the exact items being billed for. Some lawyers bill for secretary time and so on. You want to make sure you understand what you are getting into. &lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;5. Time – How long has the lawyer been practicing. While there are brilliant lawyers that are young, you’ll have to determine whether they have sufficient experience to make you comfortable. &lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;&amp;nbsp;An IRS dispute lawyer is worth their weight in gold. The IRS lives through intimidation and your tax lawyer will put a stop to it.&amp;nbsp;Whatever steps you take, do not let the IRS run all over you. Retain an IRS dispute lawyer and you’ll be thankful you did.&lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/1114699037169376712/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/irs-dispute-lawyer.html#comment-form' title='2 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/1114699037169376712'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/1114699037169376712'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/irs-dispute-lawyer.html' title='IRS Dispute Lawyer'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>2</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-6585342495183183547</id><published>2010-09-21T17:32:00.000+07:00</published><updated>2010-09-21T17:32:12.186+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="Tax Attorneys"/><title type='text'>Tax Attorneys</title><content type='html'>When dealing with taxes, there are two approaches. The proactive approach involves planning and implementing strategies to minimize taxes before filing periods arrive. The reactive approach involves trying to defend yourself when the IRS or a state tax agency comes calling, typically in the form of an audit. Tax attorneys fill both roles.&lt;br /&gt;
  116. &lt;div align=&quot;justify&quot;&gt;From the proactive perspective, tax attorneys can be invaluable in helping you create a plan to minimize your tax liability. A good tax attorney is going to sit down with you and review not only your finances, but your life. The attorney is going to get a good feel for your comfort level, your concerns and where your goals. The attorney is then going to make specific recommendations about the best way to meet your goals using tax strategies you will be comfortable with. So, why doesn’t everyone go out and retain a tax attorney? The fees can simply be overwhelming. You are getting an expert opinion and will pay for it. Unless you’re making significant amounts of income, a tax attorney probably is not within your reach. &lt;/div&gt;&lt;div align=&quot;center&quot;&gt;&lt;a href=&quot;http://www.taxreliefheadquarters.com/3235/display.ilp&quot;&gt;&lt;strong&gt;Need Help with IRS Problems? &lt;br /&gt;
  117. Click Here To Talk to a Tax Professional&lt;/strong&gt;&lt;/a&gt;&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;If the tax man comes calling, you no longer have much of a choice in regard to getting a tax attorney. The IRS is a very aggressive agency when it comes to audits. The IRS agents have no problem trampling on your constitutional rights. In fact, they will try to get you talking because everything you say is evidence against you. A good tax attorney will put a stop to these intimidating and aggressive tactics. The attorney will take over all communication responsibilities, which relieves you of the burden. Further, anything the attorney says to the IRS can’t be used as evidence against you, a very important benefit to using a tax attorney. Finally, tax attorneys are on your side. If a deal needs to be made, they will give you objective advice on your options, answer your questions and make recommendations.&amp;nbsp;&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;Whether you are looking for tax planning advice or have received an audit notice, tax attorneys will give you good, objective advice. If nothing else, tax attorneys are comforting as it is nice to have someone on your side. &lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/6585342495183183547/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/tax-attorneys.html#comment-form' title='1 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/6585342495183183547'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/6585342495183183547'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/tax-attorneys.html' title='Tax Attorneys'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>1</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-5408291730917007878</id><published>2010-09-18T10:48:00.000+07:00</published><updated>2010-09-18T10:48:02.257+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="Filing Late Taxes"/><title type='text'>Filing Late Taxes</title><content type='html'>The Internal Revenue Service is a bit touchy about filing tax returns.  It would prefer you to file a return or extension to doing nothing, even  if will be filing late taxes. If worse comes to worse, the IRS will  simply put you on a payment plan. Failing to file anything, however, can  lead too more unwanted attention from the agency than you could  possible want to receive.&lt;br /&gt;
  118. In general, you should always try to pay your taxes whenever  possible. Failure to do so can lead to brutal penalties and interest  charges. If the IRS thinks you are up to something funny, the penalties  and interest can add up to 25 percent of your tax bill. That is a big  chunk of change!&lt;br /&gt;
  119. &lt;div align=&quot;center&quot;&gt;&lt;a href=&quot;http://www.taxreliefheadquarters.com/3235/display.ilp&quot;&gt;&lt;strong&gt;Need  Help with IRS Problems? &lt;br /&gt;
  120. Click Here To Talk to a Tax Professional&lt;/strong&gt;&lt;/a&gt;&lt;/div&gt;If you are  due a refund, but just did not get around to filing your taxes, you do  not have to worry about penalties and interest. There are none since you  are owed money. That being said, are you nuts? Why would you give the  government an interest free loan? What could you be using that money for  in your daily life? Get off the couch and get a return filed so you can  get your money back. For obvious reasons, few people let refunds sit at  the IRS. If you are insanely lazy, keep in mind you will lose the  refunds if you do not claim them within three years of the original  filing date. Frankly, you deserve to if you are that lazy!&lt;br /&gt;
  121. If you owe taxes and do not have the cash, there may be an  alternative you can use. To the surprise of many, the IRS accepts credit  cards as a payment method. With high interest rates, credit cards are  not a great option. On the other hand, credit card companies cannot  audit you!&lt;br /&gt;
  122. The IRS understands that a certain percentage of  taxpayers may not be able to pay all of their taxes. Filing late taxes  will not result in an IRS attack. The key to keeping the agency off your  back is to file the return even if you cannot pay.&lt;br /&gt;
  123. source : &lt;a href=&quot;http://www.businesstaxrecovery.com/&quot;&gt;http://www.businesstaxrecovery.com&lt;/a&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/5408291730917007878/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/filing-late-taxes.html#comment-form' title='1 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/5408291730917007878'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/5408291730917007878'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/filing-late-taxes.html' title='Filing Late Taxes'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>1</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-2788064042900041403</id><published>2010-09-18T10:46:00.000+07:00</published><updated>2010-09-18T10:46:28.157+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="Tax Software"/><title type='text'>Tax Software</title><content type='html'>&lt;div style=&quot;text-align: justify;&quot;&gt;As with anything in life, tax software is tailored for different  situations. Certain software programs are best for particular  situations, but horrible for others. The defining issue is how complex  your tax situation has become. The more complex, the better the tax  software you are going to need.&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Before heading into a discussion of tax software, an  important point needs to be made. Any software program is only as good  as the information you put into it. The old cliché of “garbage in,  garbage out” definitely applies when it comes to tax software. If you  aren’t organized before you start entering information, it is going to  be a mess. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;As mentioned previously, the best tax  software for your situation is entirely dependent upon the complexity of  your finances. Although there is a bevy of free tax software solutions  online, most are not sophisticated enough to handle complex tax  situations. On the other hand, you really don’t need the premier deluxe  super duper tax software if you are a salaried employee claiming a  standard deduction. Let’s take a closer look. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Let’s  assume you have a fairly simple financial situation. You receive an  annual salary, stick money in a 401(k) or IRS and own a home. This is a  fairly typical financial situation and practically any tax software  should be able to do the job. In such a situation, there are a variety  of programs that will probably due the job but TaxAct is probably your  best option. It is free unless you upgrade and easy to use. It will  handle any basic return and we ran numbers through it for different  scenarios with no problems. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;TaxAct, however, is  not particularly effective when it comes to handling complex tax  situations. If you frequently trade stocks, own investment rental  properties, have multiple business ownership positions or are receiving  revenue out of a trust, forget TaxAct. It is simply not designed to  handle such situations, contrary to some of the advertising literature  it spits out. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;For complex tax situations, the  best tax software is the infamous TurboTax although Complete Tax is  coming on strong. TurboTax Premier is the program you want and it will  set you back roughly $80 for both the state and federal tax return  options. The program is very detailed and ready to handle complex  financial situations. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;One can’t mention TurboTax  without bringing up some of the problems. While the program works  effectively, the makers of TurboTax are not particularly brilliant when  it comes to the Internet. Frankly, they get a failing grade. There are  constant problems with upgrades, the download process is terrible and  they have been known to try to stick invasive tracing programs on your  computer. The program will definitely handle your complex tax situation,  but make sure you save everything before you try to download anything  from the TurboTax site. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Complete Tax is a unique  tax software solution. Unlike the above programs, Complete Tax assumes  you know something about your financial situation. The program is sleek  and the process is fast. Many of the asinine questions and processes  found on TurboTax are bypassed. If you have a solid grip on your  finances, Complete Tax is infinitely better than TurboTax.&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;If you don’t have a grip on your finances, Complete  Tax may not be for you. The program runs only as an interview, so it can  be hard to go back to an area when you realize you failed to enter  information for some category. Also, you can’t view the actual tax  return until the interview is finished, a restriction that can be  annoying. That being said, I prefer Complete Tax but you may not. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Again, it is important to remember that tax software is  only as good as the information you enter. Put in garbage in and the  tax software will kick out a tax return best filed in your garbage can. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  124. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&amp;nbsp;source : &lt;a href=&quot;http://www.businesstaxrecovery.com/&quot;&gt;http://www.businesstaxrecovery.com&lt;/a&gt;&lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/2788064042900041403/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/tax-software.html#comment-form' title='1 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/2788064042900041403'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/2788064042900041403'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/tax-software.html' title='Tax Software'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>1</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-4784051457536087313</id><published>2010-09-15T20:11:00.000+07:00</published><updated>2010-09-15T20:11:19.844+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="Business Education Tax Credit"/><title type='text'>Business Education Tax Credit</title><content type='html'>&lt;div style=&quot;text-align: justify;&quot;&gt;There is no such thing as a Business Education Tax Credit, per se, but business related courses are covered under the provisions of the Life Time Learning Credit.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; Business expenses for educational purposes are deductions for those who are self employed or are eligible to file personal tax returns. A Corporation filing a tax return would claim any educational expenses paid to employees or provided for employees benefits would be a normal deductible business expense. A deduction merely reduces the taxable income and does not have the same benefits as a tax credit. When people think of a Business Education Tax Credit, they are often referring to the Life Time Learning Credit.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;The Lifetime Learning Credit is one of two major tax credits available for people pursuing higher education. The other one is the Hope Credit. The Hope Credit is much more restrictive and would seldom apply to a business education situation. It is only good for the first two years of post secondary education and must be for courses leading to a recognized degree or certification. It is not totally impossible that this credit would apply, but it is less likely.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; The Lifetime Learning Credit is good for any number of years. It is a credit of up to $2000 of qualified expenses that can be taken directly from the tax owed amount. It does not necessarily have to be for particular degree programs and course taken to improve job performance, skill level, and promotion opportunity are covered by the credit.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;It should be noted that the Lifetime Learning Credit and the normal deductions for business education are not mutually exclusive. It is possible to claim them both if you qualify for them both. It is interesting to note that the Hope Credit carries a provision that people with a felony drug conviction are not eligible for the credit even if they meet all other requirements. The Lifetime Learning Credit does not have any such restriction.&lt;/div&gt;&lt;div&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;The idea of a tax credit is usually to encourage a certain activity. It is rare that a credit is given for activities that people are inclined to do anyway. The two tax credits for expenses related to higher education are exceptions to this. However, for the most part, business education and business training is considered standard competitive practice and does not need to be encouraged. It is a legitimate business deduction and should not be overlooked when preparing your tax return.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  125. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  126. &lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/4784051457536087313/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/business-education-tax-credit.html#comment-form' title='0 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/4784051457536087313'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/4784051457536087313'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/business-education-tax-credit.html' title='Business Education Tax Credit'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>0</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-2815060345517853339</id><published>2010-09-15T20:10:00.000+07:00</published><updated>2010-09-15T20:10:21.764+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="New Market Tax Credits"/><title type='text'>New Market Tax Credits</title><content type='html'>&lt;div style=&quot;text-align: justify;&quot;&gt;The Community Renewal Tax Relief Act of 2000 was the legislation that gave us New Market Tax Credits. New Market Tax Credits (NMTC) are one of the most exciting examples of Government tax credits used for social good.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; The Community Renewal Tax Relief Act of 2000 introduced the business community to an exciting new Tax Credit program call the New Market Tax Credits. The New Market Tax Credits, known as NMTCs, would serve as a spur to potential investors to invest funds in targeted ventures designed to cause a renewal of community development in the cities of America. The program was designed to pump 15 billion dollars into such projects.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;The program begins with lending institutions that qualify as Community Development Entities (CDEs). These CDEs then place investments in what are called Qualified Equity Investments (QEIs). The whole idea of this Government qualifying is to direct the investments at targeted areas. The qualifications vary from program to program, but the general idea is that they are targeted as community renewal or improvement of low income areas.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; Your interest in this as a tax payer comes from the new Market Tax Credits. First, you make an investment with a Community Development Entity. They must use your investment for a QEI, of course, and your investment is your investment. It will prosper or fail to meet goals as will any investment. The catch is that you can claim a tax credit against your income for Federal Tax purposes of what amounts to 39% of your investment.&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;The credit is spread over a period of 7 years. You take 5% of the investment as a credit in each of the first 3 years. Over the next 4 years, you can up that amount to 6%. At the end of the seven year period you will have claimed a credit equal to 39%. If you invested $100,000, for example, you would be able to claim a credit of $5000 the first 3 years and a credit of $6000 in each of the next 4 years. &lt;/div&gt;&lt;div&gt; &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Since a tax credit is a direct reduction of taxes owed, this credit effectively means that you have purchased $100,000 of some investment for only $61,000 when the 7 year period is expired. Even if the investment breaks even, you still have profited on it. So, it is easy to see how this spurs investment in CDEs. It is almost too good to be true, and the only thing limiting the program is the lack of Qualified Equity Investments to be made.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  127. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  128. &lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/2815060345517853339/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/new-market-tax-credits.html#comment-form' title='0 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/2815060345517853339'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/2815060345517853339'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/new-market-tax-credits.html' title='New Market Tax Credits'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>0</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-7526603543489217317</id><published>2010-09-15T19:00:00.000+07:00</published><updated>2010-09-15T19:00:11.580+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="The Alexa Site Audit"/><title type='text'>The Alexa Site Audit</title><content type='html'>A Little About &lt;i&gt;&lt;b&gt;&lt;a href=&quot;http://www.alexa.com/&quot;&gt;Alexa&lt;/a&gt;&lt;/b&gt;&lt;/i&gt;.&lt;br /&gt;
  129. &lt;br /&gt;
  130. Today I thought I would write about one of our newest offerings, &lt;a href=&quot;http://www.alexa.com/siteaudit?utm_campaign=ev&amp;amp;utm_source=bl&quot;&gt;the Alexa Site Audit&lt;/a&gt;. The Site Audit takes an in depth look at your website, grades it, and recommends ways to make it easier for people to find and use it. This is a project I&#39;ve been personally involved in since the beginning, so I am especially exited today to be blogging about it.&lt;br /&gt;
  131. &lt;a href=&quot;http://www.alexa.com/&quot; onblur=&quot;try {parent.deselectBloggerImageGracefully();} catch(e) {}&quot;&gt;&lt;img alt=&quot;&quot; border=&quot;0&quot; id=&quot;BLOGGER_PHOTO_ID_5497218462696357218&quot; src=&quot;http://1.bp.blogspot.com/_f_7CvC6h4pU/TEoLEPm8PWI/AAAAAAAAAOI/94Wntzk9CxE/s320/site-audit-overview.png&quot; style=&quot;float: right; height: 254px; margin: 0pt 0pt 10px 10px; width: 320px;&quot; /&gt;&lt;/a&gt;Once a report is initiated, our Site Audit crawler crawls your website. Depending on how many pages your site has, and how quickly we can fetch them, this can take up to 12 hours to perform. We then process the crawled pages, which can take several hours, and only when the report is done do we bill you. Because the process takes some time, we will send you an email when the report is complete. If you log in you may see your report as &quot;payment pending,&quot; don&#39;t worry. It can sometimes take over an hour for the payment to complete, although most of the time it&#39;s much faster.&lt;br /&gt;
  132. &lt;br /&gt;
  133. When you click on the finished report, the first page you see is an overview with your sites&#39;s grade and our top recommendations for improving it. The report is broken into five sections, Crawl Coverage, Reputation, Page Optimization, Keywords, and Stats. The first three sections contribute to your grade, while the last one is for anyone interested in the details of the crawl.&lt;br /&gt;
  134. &lt;br /&gt;
  135. &lt;a href=&quot;http://www.alexa.com/&quot; onblur=&quot;try {parent.deselectBloggerImageGracefully();} catch(e) {}&quot;&gt;&lt;img alt=&quot;&quot; border=&quot;0&quot; id=&quot;BLOGGER_PHOTO_ID_5497218414944687362&quot; src=&quot;http://1.bp.blogspot.com/_f_7CvC6h4pU/TEoLBduDlQI/AAAAAAAAAOA/Cr7pig3gFx8/s320/site-audit-crawl-coverage.png&quot; style=&quot;float: right; height: 254px; margin: 0pt 0pt 10px 10px; width: 320px;&quot; /&gt;&lt;/a&gt;I&#39;ve included screenshots of a report run on my family blog. As you can see I received a grade of &quot;C&quot;. Ouch. I guess I have some work to do. It looks like I need to work on getting links to my site from more popular sites, and I need to make sure I have relevant title and meta descriptions on each of my pages.&lt;br /&gt;
  136. &lt;br /&gt;
  137. &lt;b&gt;Crawl Coverage&lt;/b&gt;: This section of the report is about the structure of your website, and makes recommendations on how easy it is for crawlers and visitors to find pages. In the example you can see that the reachability of pages in my site is quite poor, and over two thirds of the pages were more than three clicks away from the home page. I obviously need to make sure content on my site is easier for visitors to find. I can also see if I&#39;ve accidentally blocked any important search engines from crawling my site, how many temporary redirects were found, etc.&lt;br /&gt;
  138. &lt;br /&gt;
  139. &lt;a href=&quot;http://www.alexa.com/&quot; onblur=&quot;try {parent.deselectBloggerImageGracefully();} catch(e) {}&quot;&gt;&lt;img alt=&quot;&quot; border=&quot;0&quot; id=&quot;BLOGGER_PHOTO_ID_5497218354757353506&quot; src=&quot;http://1.bp.blogspot.com/_f_7CvC6h4pU/TEoK99gRwCI/AAAAAAAAAN4/HIcuE74ts9c/s320/site-audit-reputation.png&quot; style=&quot;float: right; height: 254px; margin: 0pt 0pt 10px 10px; width: 320px;&quot; /&gt;&lt;/a&gt;&lt;b&gt;Reputation&lt;/b&gt;: The reputation of a site, at least in terms of &lt;a href=&quot;http://en.wikipedia.org/wiki/Page_Rank&quot;&gt;Page Rank&lt;/a&gt;, is based on how many sites link it to it and what their reputations are. My blog is in the 9th percentile for inbound links, which means that 91% of sites with a similar &lt;a href=&quot;http://www.alexa.com/&quot;&gt;Alexa&lt;/a&gt; Traffic Rank have more inbound links than my site does. I guess I really do need to work on getting other sites to link to me. Note that by default the graph in the example screen shot is hidden, but if you click on &quot;Learn More&quot; you will see it for your site.&lt;br /&gt;
  140. &lt;br /&gt;
  141. &lt;b&gt;Page Optimization&lt;/b&gt;: This section gives recommendations on how to improve the pages of your site, as opposed to the Crawl Coverage section which makes recommendations based on site structure. Here we identify things like duplicate content, which is when two or more URLs show the same &quot;page&quot;, pages with little text, missing image descriptions, broken links, etc. The report found two broken links on my blog, which I probably would have never found otherwise.&lt;br /&gt;
  142. &lt;br /&gt;
  143. &lt;a href=&quot;http://www.alexa.com/&quot; onblur=&quot;try {parent.deselectBloggerImageGracefully();} catch(e) {}&quot;&gt;&lt;img alt=&quot;&quot; border=&quot;0&quot; id=&quot;BLOGGER_PHOTO_ID_5497218253354329314&quot; src=&quot;http://3.bp.blogspot.com/_f_7CvC6h4pU/TEoK4Dv6ZOI/AAAAAAAAANw/ANwwrEIjQHs/s320/site-audit-page-optimization.png&quot; style=&quot;float: right; height: 254px; margin: 0pt 0pt 10px 10px; width: 320px;&quot; /&gt;&lt;/a&gt;&lt;b&gt;Keywords&lt;/b&gt;: This section recommends keywords to buy if you advertise your site on search engines. We also suggest words to use when linking to pages within your site. Using descriptive words in link text makes it easier for search engines to understand what the linked-to pages are about, and using popular yet relevant words will make the linked-to pages easer to find in search engines.&lt;br /&gt;
  144. &lt;br /&gt;
  145. &lt;b&gt;Stats&lt;/b&gt;: This section provides a short summary of the crawl of your site we performed. It includes information such as the number of pages we requested, the errors we encountered, and the unique hosts we crawled. Even if you&#39;re not that interested in stats, I do recommend looking over the Unique Hosts Crawled. If you see any sites on the list you don&#39;t recognize, it may mean you have some spam links somewhere on your site.&lt;br /&gt;
  146. &lt;br /&gt;
  147. source : &lt;a href=&quot;http://blog.alexa.com/&quot;&gt;http://blog.alexa.com/&lt;/a&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/7526603543489217317/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/alexa-site-audit.html#comment-form' title='0 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/7526603543489217317'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/7526603543489217317'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/alexa-site-audit.html' title='The Alexa Site Audit'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><media:thumbnail xmlns:media="http://search.yahoo.com/mrss/" url="http://1.bp.blogspot.com/_f_7CvC6h4pU/TEoLEPm8PWI/AAAAAAAAAOI/94Wntzk9CxE/s72-c/site-audit-overview.png" height="72" width="72"/><thr:total>0</thr:total></entry><entry><id>tag:blogger.com,1999:blog-6247008616519844034.post-4672104785504598735</id><published>2010-09-15T17:50:00.000+07:00</published><updated>2010-09-15T17:50:07.529+07:00</updated><category scheme="http://www.blogger.com/atom/ns#" term="IRS Payments"/><title type='text'>IRS Payments</title><content type='html'>&lt;div style=&quot;text-align: justify;&quot;&gt;The Internal Revenue Service is very upfront about its goal in dealing with taxpayers. While it obviously wants to collect all taxes due, it is also focused on keeping you in the system. This attitude is a relatively recent change undertaken in the 1990s. The IRS essentially determined it made better financial sense to have you in the system versus spending hundreds of man hours hunting you down. In practical terms, this means you need not have a panic attack if you do not have sufficient funds to meet your tax obligation. If you panicked this past tax deadline, there was no need. You can make IRS payments.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;The IRS will put you on a payment plan if you cannot pay your taxes on time. The plan calls for monthly payments like a car loan, to wit, they are an equal amount each month so you know what you are obligated to pay.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;You are only eligible for a payment plan if you file a tax return. Once you file, you want to use form 9465 to request the payment plan. It costs $43 to file the application. The IRS will then get back to you on what it is willing to do. The payment plan process is not an audit. Millions of people apply each year and the IRS considers it standard operating procedure. No red flags are raised when you file the application. To the contrary, the IRS tends to view you as an honest tax payer since you are acknowledging the full amount due and trying to find a way to pay.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;Importantly, the payment plan should be viewed as a means to buy time. Making the monthly payments will eventually pay off the debt, but it will take years. Interest on the amount you owe will also continue to accrue. The best strategy for using the plan is to make the monthly payments while saving up money to make a lump sum payment to satisfy the debt.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;If you cannot pay the taxes you owe, do not panic. IRS payments are the solution. The payment plan option will keep you out of trouble with Uncle Sam.&lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;
  148. &lt;/div&gt;&lt;div style=&quot;text-align: justify;&quot;&gt; &lt;/div&gt;</content><link rel='replies' type='application/atom+xml' href='http://help-tax.blogspot.com/feeds/4672104785504598735/comments/default' title='Post Comments'/><link rel='replies' type='text/html' href='http://help-tax.blogspot.com/2010/09/irs-payments.html#comment-form' title='0 Comments'/><link rel='edit' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/4672104785504598735'/><link rel='self' type='application/atom+xml' href='http://www.blogger.com/feeds/6247008616519844034/posts/default/4672104785504598735'/><link rel='alternate' type='text/html' href='http://help-tax.blogspot.com/2010/09/irs-payments.html' title='IRS Payments'/><author><name>TaxHelp</name><uri>http://www.blogger.com/profile/13542465623353609105</uri><email>noreply@blogger.com</email><gd:image rel='http://schemas.google.com/g/2005#thumbnail' width='32' height='24' src='http://1.bp.blogspot.com/_mAECNtkgoic/TJjPlvnYYdI/AAAAAAAAACA/IZbgDmsspPU/S220/New+Picture.png'/></author><thr:total>0</thr:total></entry></feed>

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