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Playing the lottery is a little like fishing. You put in you line and sit and wait, hoping for a bite. You tell yourself “somebody has to win.” And somebody always does. Sadly, the people who win do not always have a plan in place. It’s like fishing without a […]
Category: General
If you travel (or plan to travel) internationally but have substantial tax debt, the IRS has you in its crosshairs as never before. Under a new law, the IRS is required to use passport restrictions as a tool to collect taxes in certain cases. If you owe $50,000 or more […]
Experienced Tax Attorneys in Dallas-Fort Worth In May, 2012, the IRS announced taxpayer-friendly changes benefiting those seeking to pay tax debts using offers in compromise (OICs). At the Dallas-Fort Worth law firm of Brown, PC, we are prepared to help taxpayers understand the new OIC terms and determine their eligibility […]
The Internal Revenue Service (IRS) announced a second voluntary disclosure period for persons with unreported income in offshore accounts. The new program is called the 2011 Offshore Voluntary Disclosure Initiative (OVDI) and has been initiated in response to the continued interest following the 2009 Offshore Voluntary Disclosure Program (OVDP), which […]
Whether IRS collection action is just beginning, or if the IRS has already issued a lien or levy against you, your wages or your other property, we can help. Often, we can arrange for the voluntary termination of a wage or bank levy by the IRS. At other times, we […]
The agency is serious about enforcing this provision of tax law against those with serious past-due federal taxes. Under a relatively recent provision of federal law, U.S. passport holders or applicants may face problems with travel if they owe at least $52,000 in federal taxes, plus penalties and interest. Anyone […]
Federal tax authorities are scrutinizing entities using this business model because some have used aspects of the structure for evasion. An employee leasing company provides other business entities with payroll services, including the important function of collecting employment taxes for payment to the IRS. Sometimes called a type of third-party […]
Tax preparers now have a new due-diligence duty: to document their investigative efforts to confirm client eligibility for claiming head-of-household status. U.S. tax preparers are subject to tax laws that require them to exercise due diligence when they prepare tax returns for taxpayers who claim certain financially advantageous credits: Earned […]
Employers must sit up and take note of their payroll tax collection responsibilities to avoid business and personal liabilities. Business owners, executives, officers, directors and payroll managers should take note of the IRS’ current push to enforce payroll tax collection laws. According to CPA Practice Advisor, almost three-quarters of IRS […]
Its all about reasonableness, proof and legal compliance. As is well known and widely used, the Internal Revenue Code allows the deduction of ordinary and necessary expenses used to carry out your trade or business. But the IRS understands some have used this provision to deduct potentially questionable expenses, so […]