Social Security – Will I Owe Tax On My Benefits?

In Common Tax Questions, IRS Tax Help, Tax Planning, Uncategorized by Daniel Friedel

Whether or not you will owe tax on Social Security benefits will vary based on your situation.  Generally speaking, if your Social Security benefits were your ONLY source of income, you MAY NOT be subject to Federal income tax and MAY NOT have to file a tax return. Taxpayers whom receive Social Security benefits in 2014 should receive a Form SSA-1099.  This form shows the Social …

TAX FRAUD – No Special Treatment for Celebrities!!!

In IRS Tax Help, Tax Fraud by Daniel Friedel

Even celebrities are not exempt from IRS audits and criminal investigation and conviction!  Real Housewives of New Jersey stars Teresa and Joe Giudice were sentenced Thursday to 15 and 41 months of jail time, respectively. The couple pled guilty to charges including failure to file income tax returns, along with a handful of other charges. The sentence includes almost half …

Tips for Filing Your 2013 Income Tax Return

In IRS Tax Help by Daniel Friedel

It’s that time again. Tax filing season has just started and since the April 15 deadline was not affected by the government shutdown, now is the time to begin the first step in the process: gathering your tax documents.

IRS SHUTDOWN 2013 – Has the Government Shutdown Jeoprodized your TAXPAYER RIGHTS?

In IRS News, IRS Tax Help, Tax News by Daniel Friedel

Our Firm advocates for Clients facing tax issues – including those with the IRS.  With the Government Shutdown resulting in the closing of the IRS, we have encountered multiple instances of what appears to be violations of our Client’s rights as a Taxpayer. The Taxpayer Bill of Rights was enacted to ensure policies and procedures are followed by the IRS, …

Tax Tips For 2012

In IRS Tax Help by Daniel Friedel

With football season winding down, another season is just starting – Tax Season.  Although watching the college bowl games and NFL playoffs is clearly much more exciting than watching the IRS’s youtube video above, you can stay on top of your “tax game” by following these tips: 1. GATHER YOUR DOCUMENTS you’ll need when filing your taxes: receipts, canceled checks …

Tax Lady Roni Deutch Gets Slapped with a Large Tax Lien and Forced to Close Firm

In IRS Tax Help, Tax News by Daniel Friedel

You’ve seen them – the loud, obnoxious commercials by “Tax Resolution” companies, promising to settle your IRS tax debt for pennies on the dollar.  These “assembly-line” Tax Law Firms prove true the old adage, “You get what you pay for.” Unfortunately, you are likely to pay more and get less than you bargained for. Ronnie Deutch, the infamous “Tax Lady” …

Discharging Tax Debt through Bankruptcy

In Common Tax Questions, IRS Tax Help by Daniel Friedel

After the “fallout” from 2008, we all probably know someone who has filed Bankruptcy – Many of whom wiped out a majority of their debt, including some or all of their IRS tax liability.  Unfortunately, you may have a hard time keeping up with “the Joneses” down the street who are still bragging about kicking the IRS to the curb …

Capital Gain Rates in 2011

In Common Tax Questions, Florida Tax Issues, IRS Tax Help, Tax Planning by Daniel Friedel

Many taxpayers lose out on advantageous tax breaks because they are unaware that many things they own qualify for lower capital gain tax rates. Almost everything you own and use for personal or investment purposes is considered a “capital asset.” Some examples of things you may own that are capital assets are: 1. stocks and bonds held as investments; 2. …

Missed the 2010 Tax Return Filing Deadline?

In Common Tax Questions, IRS Tax Help, Tax Planning by Daniel Friedel

If you missed the April 18th deadline to file your 2010 Tax Return, it’s not too late.  While you consider whether it’s worth the hassle to file your late return, here’s some things to keep in mind: PENALTIES AND INTEREST.  For every day your tax return is late, filing penalties, payment penalties, and interest will incur on any tax you …