05 Jan
Posted by Mike Habib, EA as Back Taxes, Bank Levy, IRS Audit Reconsideration, IRS Problem, IRS Tax Penalties, Offer In Compromise, Offer In Compromise - OIC, Past Due Tax Returns, Payroll Tax Audit, Payroll Tax Problems, Penalty Abatement, Sales Tax Problem, State Tax Audit, Tax Controversy, Tax Relief, Unfiled Tax Returns, Wage Garnishment, Wage Levy
No More Tax Problems in 2009
Mike Habib, EA
Here is a New Year resolution you can’t afford to ignore… No more tax problems!! Yes, you can get rid of your tax problems in 2009.
You can solve your tax problems and get tax relief through our tax resolution services. You can finally get a [...]
30 Dec
Posted by Mike Habib, EA as Back Taxes, IRS Problem, Offer In Compromise, Offer In Compromise - OIC, Tax Controversy, Tax Relief
Taxpayer’s failure to timely file breached offer-in-compromise justified renewed collection action Trout, (2008) 131 TC No. 16
Mike Habib, EA
The Tax Court has concluded that IRS didn’t abuse its discretion in finding that a taxpayer had breached his offer-in-compromise (OIC) and deciding to proceed with its collection efforts where the OIC made timely filing [...]
30 Dec
Posted by Mike Habib, EA as Back Taxes, IRS Audit Reconsideration, IRS Audits, IRS Problem, IRS Tax Penalties, Offer In Compromise, Offer In Compromise - OIC, Payroll Tax Audit, Tax Relief, US Taxes
Capital contributions did not restore or increase shareholders’ tax bases in loans to S corporations Nathel, (2008) 131 TC No. 17
Mike Habib, EA
The Tax Court has held that taxpayers’ capital contributions to S corporations did not constitute income to the S corporations and that the contributions did not restore or increase their tax [...]
IRS reminds taxpayers to make use of recent tax law changes before December 31st [Fact Sheet 2008-26]:
Mike Habib, EA
With the end of tax year 2008 just weeks away, IRS has issued a number of tax tips that taxpayers should consider.
Among the tips are the following—first-time homebuyers (those who have not owned [...]
15 Dec
Posted by Mike Habib, EA as Back Taxes, IRS Problem, Tax Relief, US Taxes, Unfiled Tax Returns
IRS tips for year-end charitable contributions IR 2008-138
Mike Habib, EA
IRS reminds individuals and businesses making contributions to charity that they should keep in mind several important tax law provisions that have taken effect in recent years. One provision offers older owners of individual retirement arrangements (IRAs) a different way to give to charity. [...]
15 Dec
Posted by Mike Habib, EA as Back Taxes, IRS Problem, Offer In Compromise, Payroll Tax Problems, Tax Controversy, Tax Relief
A roadmap to disaster area tax relief in 2008 legislation
Mike Habib, EA
The 2008 calendar year has seen more than the usual share of natural disasters in the U.S., and legislation designed to provide tax relief to the victims. By and large, legislative relief has been granted on an ad-hoc basis, with an attempt [...]
15 Dec
Posted by Mike Habib, EA as Back Taxes, IRS Problem, Tax Controversy, Tax Relief, US Taxes, Unfiled Tax Returns
IRS boosts 2008 housing cost allowances for those working abroad in high-cost areas Notice 2008-107, 2008-50 IRB
Mike Habib, EA
A new Notice effectively increases the maximum housing cost exclusion for U.S. citizens and residents working abroad in specified high-cost locations. The increases are based on geographic differences in foreign housing costs relative to U.S. [...]
02 Dec
Posted by Mike Habib, EA as Back Taxes, IRS Problem, Tax Controversy, Tax Relief
Gambling winnings or losses?
Mike Habib, EA
As a US taxpayer, you can deduct gambling losses only if you itemize your deductions on form 1040. You can claim your gambling losses as a miscellaneous deduction on IRS Form 1040, Schedule A. However, the amount of losses you deduct can not total more than the amount of [...]
11 Nov
Posted by Mike Habib, EA as Back Taxes, IRS Problem, Past Due Tax Returns, Payroll Tax Problems, Tax Relief, Unfiled Tax Returns
Year-end tax planning client letter with checklist
As the end of the year approaches, it is a good time to think of planning moves that will help lower your tax bill this year and possibly the next. Factors that compound the challenge include the stock market’s swoon, the difficult economic climate we’re in right now, [...]
11 Nov
Posted by Mike Habib, EA as AMT, Back Taxes, IRS Problem, Past Due Tax Returns, Tax Controversy, Tax Relief
As I’m sure you’re aware, on Oct. 3, 2008, the President signed into law the Emergency Economic Stabilization Act of 2008 (P.L. 110-343). Although virtually all of the press coverage of this law has concentrated on its hotly debated $700 billion financial industry bailout plan, the legislation also contains scores of tax changes, mostly [...]
24 Sep
Posted by Mike Habib, EA as Back Taxes, IRS Audits, IRS Problem, Offer In Compromise, Offer In Compromise - OIC, Tax Controversy, Tax Relief
TIGTA review finds small number of cases where IRS employees harassed taxpayers while attempting to collect taxes [Audit Report No. 2008-10-162]:
In 2007, there were five cases involving Fair Tax Collection Practices (FTCP) violations for which an IRS employee received administrative disciplinary action, according to a recent audit by the Treasury Inspector General [...]
03 Sep
Posted by Mike Habib, EA as Back Taxes, Bank Levy, IRS Audits, IRS Problem, IRS Tax Penalties, IRS audit advice, IRS audit guide, Offer In Compromise, Offer In Compromise - OIC, Past Due Tax Returns, Payroll Tax Problems, Penalty Abatement, Tax Controversy, Tax Relief, Unfiled Tax Returns, Wage Garnishment, Wage Levy
Do you have back tax returns that are Unfiled? Are you missing the records and forms necessary to file your tax returns?
The IRS will not allow you to file an offer in compromise or get an installment agreement if you are not current on filing your back tax returns.
If you have a refund coming to you and you file more than 3 years past the due date, the IRS will keep the refund.
02 Sep
Posted by Mike Habib, EA as Back Taxes, IRS Notice, IRS Problem, Tax Controversy, Tax Relief
Employer not required to obtain worker status determination before withholding taxes
Nino v. Ford Motor Company, DC MI, 102 AFTR 2d ¶2008-5215, Dkt. No. 07-13545, 8/8/08
A federal district court has dismissed an employee’s pro se (“for self”; non-attorney) complaint that he should not have had withholding deducted until his employer obtained a worker status determination [...]
21 Aug
Posted by Mike Habib, EA as Back Taxes, IRS Audits, IRS Notice, IRS Problem, IRS Tax Penalties, IRS audit advice, Past Due Tax Returns, Penalty Abatement, Tax Relief
If It Seems Too Good to Be True, It Probably Is
Tax Return Preparer Fraud
Mike Habib, EA
Dishonest tax return preparers can cause many problems for taxpayers who fall victim to their schemes. These scam artists make their money in a number of ways including skimming a portion of their clients’ refunds, charging a percentage of [...]
13 Aug
Posted by Mike Habib, EA as Back Taxes, IRS Problem, IRS Tax Penalties, Offer In Compromise, Offer In Compromise - OIC, Payroll Tax Problems, Tax Relief
IRS official pledges improved collection of billions in unpaid payroll taxes from businesses
WASHINGTON (AP) — A top IRS official promised Congress Tuesday that the agency “will do better” in collecting billions in taxes that businesses supposedly withheld from employees’ paychecks but never remitted to the government.
Linda Stiff, a deputy Internal Revenue Service commissioner, agreed [...]
02 Jul
Posted by Mike Habib, EA as Back Taxes, IRS Problem, Tax Controversy
Final regs on dependent child of divorced or separated parents or parents who live apart T.D. 9408, 07/01/2008; Reg. § 1.152-4 Mike Habib, EA
IRS has issued final regs on the rules for claiming a child as a dependent by parents who are divorced, legally separated under a decree of separate maintenance or a [...]
19 Jun
Posted by Mike Habib, EA as Back Taxes, IRS Problem, Unfiled Tax Returns
IRS may prepare substitute returns in worker classification cases Chief Counsel Advice 200822026
A Chief Counsel Advice (CCA) has concluded that, in employment tax cases where worker classification issues are present, revenue officers have authority under Code Sec. 6020(b) to prepare employment tax returns, but the requirements of Code Sec. 7436 must be [...]
14 Jun
Posted by Mike Habib, EA as Back Taxes, IRS Problem, Payroll Tax Problems, Tax Controversy, Tax Relief, Wage Garnishment, Wage Levy
Tax Problem Resolution Services
I specialize in resolving tax problems for individuals, small-size companies, mid-size companies, and fortune 1,000 companies. I represent individuals and businesses before the IRS and any taxing authority, therefore the taxpayer does not have to deal with the IRS directly.
Mike Habib, EA
IRS strengthened enforcement policies, along with their new and complex tax [...]
29 Apr
Posted by Mike Habib, EA as Back Taxes, IRS Problem, IRS audit advice
Enhanced tax breaks make it an especially good time to buy business autos Mike Habib, EAmyIRSTaxRelief.com
Thanks to economic woes in general and financial trouble for auto manufacturers in particular, it’s a good time to shop for a new vehicle, if you can afford to do so. Thanks to bonus first year depreciation deductions under the [...]
17 Apr
Posted by Mike Habib, EA as Back Taxes, IRS Problem, Past Due Tax Returns, Unfiled Tax Returns
You missed the tax deadline April 15th, so now what?
Mike Habib, EA
myIRSTaxRelief.com
Although the IRS has received a record number of returns this year, there are still thousands of people who did not file tax returns on April 15th. The reasons for this are numerous, but the IRS research shows that often people do not [...]
10 Apr
Posted by Mike Habib, EA as Back Taxes, IRS Audits, IRS Problem, US Taxes, Unfiled Tax Returns
Memo explains how state property tax credits are taxed and reported - Chief Counsel Advice 200814022
Mike Habib, EA
myIRSTaxRelief.com
In Chief Counsel Advice, IRS has explained the proper federal income tax treatment of certain state property tax credits and the extent to which the state must provide information reports about the credits to IRS [...]
08 Apr
Posted by Mike Habib, EA as AMT, Back Taxes, IRS Audits, IRS Notice, IRS Problem, US Taxes
The most important IRS Tax Development in Q1 2008
Mike Habib, EA
myIRSTaxRelief.com
While the Economic Stimulus Act of 2008 was the most significant development in the first quarter of 2008, many other tax developments may affect you, your family, and your livelihood. The new law changes and other key developments are summarized below. Please [...]
02 Apr
Posted by Mike Habib, EA as Back Taxes, IRS Audits, IRS Notice, IRS Problem, Tax Controversy, Unfiled Tax Returns
New, changed and expired provisions affect 2008 individual estimated tax Mike Habib, EAMyIRSTaxRelief.com
Apr. 15, 2008 is the due date for affected calendar year taxpayers to make their first installment of 2008 estimated tax. There aren’t any drastic changes in the estimated tax rules themselves for 2008. However, there are a number of new, changed [...]
01 Apr
Posted by Mike Habib, EA as Back Taxes, Bank Levy, IRS Audits, IRS Notice, IRS Problem, Offer In Compromise - OIC, Past Due Tax Returns, Tax Controversy, Unfiled Tax Returns, Wage Garnishment, Wage Levy
Truckers Tax Relief - Are you a truck driver with tax problems?
If you’re a truck driver and owe the IRS, you’re better off resolving your tax debt now. As you know, tax problems do not go away by themselves! Stop your IRS wage garnishment today, stop your IRS bank levy today, and release your [...]
25 Mar
Posted by Mike Habib, EA as Back Taxes, IRS Problem, Past Due Tax Returns, Tax Controversy, US Taxes, Unfiled Tax Returns
Tax breaks for qualifying relatives are limited - what you should knowInternal Legal Memorandum 200812024
Mike Habib, EAmyIRSTaxRelief.com
An Internal Legal Memorandum (ILM) explains that various tax breaks are not allowed for qualifying relatives. Specifically, the ILM concludes that, apart from a dependency exemption, a taxpayer’s qualifying relative may not qualify him for the [...]