I hope you’ve been enjoying my posts lately. I thought I might do something different today and rustle up a few bits of info from around the WWW. These are some of the news items and blog posts that have been popular over the last few weeks. Leave me your thoughts.
Yet the common-law test used by the IRS to determine who is an actual employee is vague and unpredictable. The determination (more…)
Hurricane Katrina – IRS Waiving Diesel Fuel Penalties
by: Richard A. Chapo
Obviously, the destruction caused by Hurricane Katrina has had a major impact on fuel supplies. The IRS is temporarily waiving regulations that ban the sale of certain diesel fuels to address shortages.
Dyed Diesel Fuel No Longer Banned
Diesel fuel comes in two general forms, clear and dyed. Dyed diesel is not environment (more…)
How about these right… I think you’ll find the following nuggets of wisdom particularly insightful. Leave your comments below. Check out the second one in particular…
IRS Employees Face Rising Threats
Some recent examples: a man in tax trouble hired someone to kill an IRS employee in Tampa, Fla.; an Alabama man tried to use his car as a deadly weapon by … Read More…
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Irs Tax Levy? Get Irs Bank Levy Help!
IRS Tax Levy: Save your Small Business from an (more…)
Tax Tips: Pasadena Tax Attorney & Cpa – Irs Notice Of Deficiency
The IRS Notice of Deficiency is an official letter to put you on notice that the clock is ticking. Basically the IRS is informing you that they are about to assess a tax liability against you. Also, it gives you notice that you have only 90 days to contest the proposed assessment in Tax Court.
The tax court is the only court where you can contest a tax liability without first paying the full tax liability. Thus it is important to file a claim in a timely manner. If you miss that deadline there are other court venues but you will have to pay the full tax liability in advance to proceed.
Irrespective of any tax court filings that might be undertaken the underlying problem can often be resolved without the necessity of expensive litigation. The IRS does make errors which can result in an incorrect tax liability. The use of administrative procedures is the first option that you should explore.
There are different types of letters that you might get from the IRS:
• Proposed Individual Tax Assessment Letter – also known as the 30-day letter. This is your notice that the IRS has no record of your Individual Income Tax Return – Form 1040. It informs you that the IRS intents to compute a tax assessment based on income reported by your employer, banks, etc. In short, you have 30 days to file your return or the IRS will compute the tax for you—then collection action will commence.
• Notice of Deficiency Letter—also known as the 90 letter. This informs you of the tax assessed plus interest and penalties. Your options are:
o File your Individual Income Tax Return – Form 1040 with supporting schedules. If you do this, you don’t need to petition the tax court.
o File a consent to assessment and collection form. You are basically agreeing to the tax liability.
o Submit a letter explaining why you are not required to file a return.
If you don’t file a tax return and you don’t agree with the proposed tax owing by the IRS, you have 90 days from the notice to dispute the amount owed.
Professional advice is recommended to determine your best options to minimize your tax liabilities. You should never ignore a Notice of Deficiency. As a taxpayer you have
1000
rights but you must act in a prompt manner as there is only a short window of time available.
John Spurgeon is a tax attorney in Pasadena, California servicing clients in the greater Los Angeles area. John Spurgeon & Associates, who are both tax attorneys and CPAs, have the proven knowledge to effectively deal with the IRS. Please call 626-440-9518 for a complimentary initial consultation.
About John Spurgeon & Associates
John Spurgeon & Associates is a professional services firm located in Pasadena, California with a focus on tax law and related accounting services. They have extensive experience with federal and state income taxes, payroll taxes and sales taxes. They represent business, non-profits and individuals against the IRS and the Franchise Tax Board (California State Taxes). As both tax attorneys and Certified Public Accountants they offer a broad range of tax related services.
By: Don K
Article Directory: http://www.articledashboard.com
John Spurgeon is a native and resident of Pasadena, California. He is a father of eight and a grandfather of seven. He has over 25 years of experience dealing with corporate income tax, individual income tax, tax planning, litigation of civil criminal cases and tax controversy. Being both a tax attorney and CPA provides clients with the best of both worlds. For more information, please visit www.taxproadvocate.com.
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The IRS income tax return is a yearly filing of what the government claims you owe them. The (more…)
Don’t Get Sued! Protect Clients from Providing Incriminating Information in IRS Audits – Part 2
by: David Jacquot
Introduction.
In many cases, a taxpayer with an IRS audit may have exposure to potential criminal charges in addition to potential increased tax liability, penalties and interest. Cases that have potential criminal exposure are often referred to as “eggshell” or “sensitive (more…)
Signed into law as part of the American Recovery and Reinvestment Act of 2009, homeowners can now qualify for a Federal tax credit equal to 30 percent of their costs of up to a total of $1,500 for upgrading their home with energy efficient windows and exterior doors.
Be aware of the qualifications and processes required to claim the tax credits they deserve. The relatively simple yet specific guidelines (more…)
8 Tips For American Taxpayer Living Abroad
1. The IRS Still Wants your Money
You may be surprised to learn that even through you may move out of the country, and work abroad, you are still required to pay taxes. Every year you will need to file a tax return claiming your worldwide income, even if you have already paid taxes on the income in the country you are living in. This applies to both (more…)
A Cpa And Tax Attorney Is Vital To Solve Tax Problems And Controversy
Someone who is both a CPA and tax attorney can help you navigate an IRS audit, appeal or tax court case.
Nothing can get you into a panic faster than a notice from the IRS saying that you are the chosen one. If the amount you owe is large or there is an upcoming IRS audit, it is time to consult a CPA and tax attorney – (more…)