The IRS Audit Blog

Archive for April, 2009

Question: What is the process i go though in order to set up shared parenting?

Me and my fiance recently split up we have 2 children one is 2 and the other is 9 months. we are not married but we both agree to the terms we worked out. but i feel i need something legal drawn up that includes other info like neither of us pay child support, income tax agreement, ect.
im now a single father with 7 dollar an hour job i cant afford an attorney to file anything with courts or whatever.
anyways if anyone knows the steps please let me know.
thank you
also, i live in Ohio. dont know if it matters

Answer: If you cannot afford a attorney, I think the State is required to provide one. Go to state web site like Childrens Services to find where you can get assistance. Try “Googleing” for more info.

Finding the right tax preparer

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US Immigration Lawyer on Naturalization & Tax Return

The drop dead date to apply to the IRS Voluntary Disclosure Program was October 15th, however U.S. taxpayers still can file a voluntary disclosure under the IRS normal procedures.

In 2009, the IRS and U.S. Department of Justice commenced its highly publicized investigation into Swiss bank UBS AG and U.S. accountholders who failed to inform them of these assets. However, the investigation did not end with UBS. The IRS has made it very public that offshore tax evasion remains a top enforcement priority. The Department of Justice has gone after taxpayers regardless of the amount even taxpayers with assets of $20,000 or less in offshore accounts.

U.S. taxpayers with offshore assets and accounts are required to disclose these interests to the U.S. government on their Form 1040, U.S. Individual Tax Returns, and file a corresponding Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR). If IRS agents find out that a taxpayer has not disclosed an interest in an offshore account or income accruing on such accounts during the course of an audit, the IRS may impose harsh penalties including the greater of $100,000 or 50% of the offshore account balance for willful failure to file an FBAR for each account. These penalties, compounded with interest and fraud penalties, can essentially wipe out the taxpayers foreign assets. To make matters worse, taxpayers could be exposed to criminal prosecution and jail time for tax evasion.

In March 2009, to prod taxpayers to come forward and disclose previously undisclosed offshore accounts in exchange for minimal penalties and the promise not to refer the case for criminal prosecution, the IRS announced the creation of the IRS Voluntary Disclosure Program. As a result of pressure on UBS and other offshore institutions, thousands of U.S. taxpayers with previously undisclosed offshore accounts took advantage of the Voluntary Disclosure Program and joined before the October 15, 2009 deadline.

Despite the fact that it is too late to enter the IRS Voluntary Disclosure Program, the option to file a voluntary disclosure under the IRS normal procedures is still available. There are a plenty of advantages to filing a voluntary disclosure as it is far better to disclose to the IRS than to have the IRS discover you. As is with the Voluntary Disclosure Program, a traditional voluntary disclosure can provide taxpayers with previously undisclosed foreign accounts with a way out possibly avoiding the most severe of civil fines and criminal prosecution.

In addition, those U.S. taxpayers with undisclosed offshore bank accounts should be made very aware that the voluntary disclosure process is a comprehensive and delicate one as with all dealings involving the IRS. Extreme care must be taken in deciding on whether to file a voluntary disclosure or not. U.S. taxpayers are highly encouraged to get in touch with a tax attorney experienced in resolving disputes with the IRS as soon as possible.

For example, if a taxpayer has already been investigated and contacted by the IRS, it may be too late to file a disclosure. Therefore, time definitely plays a significant factor as the IRS continues its pursuit of undisclosed offshore account holders. The window of opportunity is closing on those who do not come forward and file to take advantage of possible reduced penalties and potential prison time. Again,it is advised that U.S. Taxpayers with undisclosed offshore accounts seek the advice of and direction of legal counsel on the matter.

If you’re audited, let the pros handle it

By Edward J. Loughrey The representative must have a Form 2848, Power of Attorney (POA) document, signed by the client that he/she will submit to the auditor. This will enable him/her to discuss all matters pertaining to the tax audit. This POA is limited to only to the tax issues at hand.

Ultimate Tax Deduction Solution to our Exploding Deficit

Venice Florida Realtor Helps Charities

Realtor® Wayne Welsh, P.A. announced that the “Welsh Team” has donated $50,000. in personal commissions to charity resulting from the sale of Venice Florida real estate. The Welsh Team donates 10% of their personal commission to charity after every sale. They are unique in that they allow the customers they represent, whether sellers or buyers, choose the charity that will receive the donation …

Tax Deduction Tips & Advice : How to Claim Home Office Deductions

Utah County man charged in ponzi scheme attends court hearing

A Utah County man charged with running a $100 million ponzi scheme attended a court hearing Monday. The judge is weighing whether the government received priveleged documents it should not have in the ongoing criminal case against Rick Koerbert. There is also a 20 count indictment with what the government claims was a $100 million ponzi scheme. Koerber has pleaded not guilty and insists that he …

RSTESOT TV by Samuel Elijah Maccabee 4 YHVH

Immigrants v. PennDOT: The Right to Drive

The Pa. Dept. of Transportation arbitrarily revoked their licenses. They fought back—and won. Without the benefit of legal counsel, six South American immigrants waged a court battle against the Pennsylvania Department of Transportation (PennDOT) and won the right to keep their driving privileges after the agency arbitrarily suspended them. The group didn’t plan on rising up against the agency …

Batch Identity Thieves Hide Behind Sovereignty Business Owner Has to Pay for Internet Crime