The IRS Audit Blog

Posts Tagged ‘irs tax’

The nationwide small business consultant company, Grow Small Business, held its first Small Business workshop last month at the Southfield Westin Hotel.

The workshop’s theme, Small Business “Bailout,” attracted attendees from all parts of the tri-county region.  The audience of small business owners and entrepreneurs was delighted and encouraged to learn that there are legal and financial resources available to them.  

The “Bailout” workshop planners, Dennis Nazelli and Emily Holt, arranged for experts in the fields of legal and financial affairs.  The Program Manager for Women’s Business Center, Kathi Boyle, represented the Center for Empowerment & Economic Development (CEED).  Director Earl Carruthers represented his company, Graceful Financial Solutions; and, Business Loan Officer, Derek Thornton, spoke on behalf of CharterOne Bank, the largest lender of business loans in the state of Michigan.

Emily Holt, a successful owner of her own insurance agency for 20 years, used all of her time slot to explain the many benefits of the Pre-Paid Legal Services program that protects entire families from law suits, IRS issues, Identity Theft restoration services, writing a will, contract review, foreclosures, speeding tickets, landlord/tenant issues, owning a small business, and many more issues that would normally cost a fortune if handled by an attorney from the “yellow pages.”  Ms. Holt received a resounding applause when she announced that the Pre-Paid Legal membership program only cost $1.17 a day.

The second presentation of legal resources was given by Dennis Nazelli and it centered on the explanation of the business legal plans offered by GoSmallBiz.com.  Mr. Nazelli illuminated the unique and reasonably-priced coverage of the GoSmallBiz.com plan.  It covers legal and business consultation, legal and business correspondence, legal forms, debt collection, IRS tax issues representation, contract and document review, trial defense representation, internet marketing, construction of your business website to name just the plan’s major elements.

The incredulous audience was amazed to learn that their cost for these two resources combined for under $2.00 a day.  Nazelli reminded the audience that together these two legal plans will protect you, your family and your business.  

For more information about Grow Small Business and its services go to:
http://www.growsmallbiz.biz

Community notes

• Central Ohio Technical College will hold its next Discovery Day information session on Friday, Jan. 15, in the John Gilbert Reese Center, 1209 University Drive on the Newark campus.

Surviving an IRS Tax Audit : Receiving an IRS Tax Audit

Question: Can anyone recommend a good tax attorney in Houston, TX?

We are in deep doo with the IRS. They have notified us that they have an “Intent to Levy” and are notifying us of our right to a hearing. We have heard we should submit an “Offer to Compromise” but have no way of knowing how much to offer or if there are other routes we should take.
Actually, the total tax, interest and penalty is $164,000. We are living in a house that is in my mother-in-law’s name and we have some stocks for retirement (we’re in our late 50′s) and we both have been out of a job since January. The $3000 in the bank now won’t last long. What do you recommend?

Answer: Don’t waste money on an attorney unless they file criminal charges. DO consult with a local CPA or EA who specializes in OIC issues. Do NOT call those firms that advertise on cable TV or talk radio. They are a ripoff.

Bear in mind that only about 20% of all OIC applications are ever approved by the IRS. Basically you must offer them MORE than what they reckon that they could recover by liquidating all of your assets at fire-sale prices AND put you on a payment plan on an austerity budget for 4 to 5 years. If you owe the IRS $40k and can swing $1,000 a month in payments, there’s virtually NO chance of an OIC going through. If you owe them $40k, live in a rented apartment with junk furniture and a junker car and could swing $100 a month, they MIGHT settle for $10,000.

To see what an OIC entails, grab a copy of IRS Form 656 and read up on the instructions included with it. It’s 44 pages long, so get busy. I’d post a link, but YA is blocking links right now.

Blind Boys of Alabama perform in Morristown, and other events for week of Jan. 20

Blind Boys of Alabama, perform at The Community Theater, Mayo Center for Performing Arts, 100 South St., Morristown, at 8 p.m. on Friday, Jan. 29,; and events calendar for week of Jan. 20, 2010.

IRS Tax Negotiator

Question: Do I have any recourse? The IRS took my federal & state tax refund for a school loan.?

It’s a 9 yr old loan, but I’ve been homeless & mainly unemployed since then. I specifically had extra taken out of my seasonal job’s paycheck so that I could get an apartment. I didn’t have a mailing address to be forewarned. Anything I can do?

Answer: If you have a defaulted Student Loan your refund is automatically offset to pay on the debt. You can contact the Financial Management Services to get a number for the Lending Agency that you owe so you can try to get payments going with them to possibly avoid this in the future.
1-800-304-3107

Free income tax help, free e-filing available at countywide locations

Volunteer tax preparers, trained and certified by both the Internal Revenue Service (IRS) and the state of Minnesota, are available to help taxpayers file their federal and state income tax returns.

TaxPlus Tax Tip – For Profit or Hobby?

Question: I need help sorting out an IRS problem!!!?

My boyfriend is being persued by the IRS because his employer in 2004 filed his W-2 saying he was paid “other income” instead of a wage (like his other employer did the same year). He is here from Australia with a H2a visa working in agriculture. He has filed a form 1040 and has sent documentation to the Irs with copies of his visa and passport. However the IRS now want a schedule SE filled out and sent in. His income was not self employment, the farmer he worked for had to sponser him to even bring him here to work for him. So what can he do? He goes home in October and wants to be able to come back in a few months. Will this affect that? Should he just pay the taxes and move on even though it’s not right? I tried filling out a 1040 NR for him to see if he filed the wrong forms but it came out saying he owed even more in taxes ($900 when with the regular 1040- inlcluding self employment tax-he only has to pay $500 ) please help!!!!

Answer: Tax matters can be exceedingly complicated, even for residents. I suggest you contact a tax attorney.

2009 Tax Changes for the Self-Employed

NASE Offers Self-Employed Tips for Getting a Jump on the Filing Season

TurboTax Rap Contest

Question: how to apply document rights to pdf files?

I had to create a form , which I did in indesign and saved as a pdf. It now needs to be interactive in the sense that I had to create fill-in areas( for the qty and price slots). I did this in adobe pro 7 but the problem is that clients can fill in the slots but they cant save it. I need the file to be like this: http://www.irs.gov/pub/irs-pdf/fw9.pdf
I noticed it said : this form has document rights applied to it. These rights allow anyone completing the form, with the free Adobe Reader to save their filled-in form locally.

HELP ME DO THIS PLEASE

Answer: Q. Can I save Adobe PDF forms in Adobe Reader after I have filled out a PDF form?
A. Yes, provided your form has had the “local save” capability turned on with Adobe LiveCycle Reader Extensions. Team members both inside and outside an organization have access to and can interact with forms. You can easily open, fill out and submit PDF forms, even from handheld devices and over wireless connections. However, if the “local save” capability has not been activated in your PDF form, you will not be able to save the form data with Adobe Reader.

You need to acquire Adobe® LiveCycle® Reader® Extensions. Sorry, I have no idea of the cost. http://www.adobe.com/products/server/readerextensions/

Sources varied for tax forms

Dear Action Line: Where do you find the tax forms and instructions for doing your 2009 federal income taxes? — R.H.J., Tulsa.

IRS TAX TIPS: IRS Info Now Available in Spanish (ASL, CAPTIONS, & AUDIO)