Will You Pay Higher Taxes in 2011?

In Tax Planningby Daniel Friedel

Lack of congressional action on 2011 income taxes may force the Treasury Department to make unprecedented moves to prevent U.S. workers from seeing large tax increases in their January paychecks. The issue: 2011 tax-withholding tables. Treasury officials usually release the tables, which determine the take-home pay of millions of wage-earners, by mid-November because it takes payroll processors weeks to adjust …

Settle Your Tax Debt for Pennies on the Dollar – If It Sounds Too Good To Be True, It’s Probably a Scam!

In Uncategorizedby Daniel Friedel

FTC Shuts Down American Tax Relief Scam New York Times, FTC Says Company Promised Tax Relief but Failed to Deliver: Who wouldn’t like to settle with the IRS for pennies on the dollar? In recent years, some 20,000 people have turned to American Tax Relief of Beverly Hills, Calif., to do just that after seeing the company’s advertisements on television, …

Estates May be Given Choice Between 2009 & 2010 Estate Tax Law

In Estate Planning, Tax Planningby Daniel Friedel

Wall Street Journal, Estate Tax Choice May Be In Works For 2010 — Treasury Official, by Martin Vaughan: The estates of those who died this year might be allowed to be taxed as if they died in 2009, in order to resolve a problem created by the repeal of the estate tax, a Treasury Department official said. Allowing those estates to …

Asbestos, Acutane, Vioxx, Paxil Settlement? You may need a Tax Attorney!

In Tax Planningby Daniel Friedel

We have all seen the ads for asbestos exposure and “bad” prescription drugs… “have you or someone you know taken the drug Acutane… if so, you may be entitled to cash compensation… call 1800-bad-drug…” So what are the tax consequences of receiving compensation for your damages? Well, it depends… Some damages and settlement proceeds are tax exempt under IRC § …