The IRS Audit Blog

Archive for April, 2008

Question: obama has made my life unbearable what should i do?

his socialist party ruined our country ……since they took over in 2006 i lost half my retirement lost my job….now its my turn to steal ripoff the government every job i take i claim exempt and also collect unemployment so now i barley work and i make more money than i use to and when the irs comes to collect i have a great legal defense the government is not representing me and they know it

Answer: What should you do? Vote, the jerks out of office.

Labour and Employment

Article by Howard M. Radzely Esq , Sari M. Alamuddin, Charles C.

Is Cash Gifting Legal LIVE IRS Interview

Taxpayers in Nine States and the District of Columbia File with Different Center

For taxpayers who file paper returns, the correct center addresses are on labels inside the tax packages they receive in the mail.

Darwin Boedeker on Alex Jones Tv 2/6: Gun Show Organizer Targeted by BATF Makes His Case

Question: Best way to complete an IRS Form 1041?

I need to complete a 1041 and K-1 for my father’s irrevocable trust. There are only two 1099s for the trust. Seems I can fill it out by hand, but I am worried that I will do something wrong. Is there reasonably priced tax software (can I use Turbo Tax for example) to complete the 1041 and the K-1?
The 1099s are for interest income on money market funds held by the trust. It is a trust formed when my father died. I only need one k-1 which goes to my mother.

Answer: Are you certain it’s an irrevocable trust?
What are the 1099s for?
How many k-1s are to be issued?

Software only makes the math easier, it doesn’t magically put the information on the forms.

New App at the Mac Store to Prepare Federal Tax Returns Now Available from Taxsoftware.com for Only $9.95

Taxsoftware.com today announced that an application for six of the most often used 2010 federal tax returns is now available for a flat fee of $9.95 on the Mac Store.

Question: How can I fix owing federal Payroll taxes?

4 years ago I had a business that went under. Prior to that I knew it was and began to cover my employees payroll with the tax account. When I went out of business I used the last of it to pay the 18 staff members payroll off. Felt good then, but now I owe roughly $20K.. Initially I tried to make payments but discovered that I couldnt live off $400 a month..Because I got sued, garnished etc.. I really want to fix all of this. I was a S Corp at the time but the Feds show no “Computer” records of that even though I have the papers accepting / showing I was set up by them..So cant even write of the corporate debt! I thought of doing a compromise offer but am worried I will mess it up. No money now for a Corporate attorney either! Ugh.. Anyways, between child support that IS current and all this debt..I doubt I will ever have a house without room mates.. I have no assets etc.. Besides a quick trip to Mexico, any ideas??

Answer: You can’t fix the payroll tax debt. In fact, the penalty is 100%. The Social Security and Medicare taxes you did not pay are called “trust fund” taxes. So not paying them is even more serious than not paying your income taxes.

If you want to address this, you are going to need professional help from a good tax person. Seek out a CPA or EA who has dealt with this problem before to represent you. The representative may be able to address the S-corp issues with the IRS. However, as a principal in the S-corp, the IRS is going to hold you personally responsible for the payroll taxes that weren’t paid.

Celebrity Tax Expert Roni Deutch Answers Common Questions About The IRS Offer In Compromise Program

The Tax Lady Roni Deutch is continuing her efforts to educate the American public on taxes, and tax debt relief. Ms. Deutch has published a list of answers to the most common questions about the IRS’ OIC program. (PRWeb Jan 3, 2010) Read the full story at http://www.prweb.com/releases/2010/01/prweb3396034.htm

Offer in Compromise (OIC)

N.Y. Fed told AIG to keep quiet on swaps

In the weeks before Timothy Geithner’s confirmation as treasury secretary, his underlings at the Federal Reserve Bank of New York directed American International Group (AIG) to delay publicly disclosing that tax dollars were used to pay in full $62 billion in insurancelike bets it owed to major U.S. and foreign banks.

America -1- Freedom to Fascism