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… Continue reading Missed the 2010 Tax Return Filing Deadline?
The Notice of a Tax Auction Posted on the Gainesville Hooter’s Entrance
Last week I spoke about the raid and bust of On Time Tax Consultants for allegedly scamming low income taxpayers. Unfortunately, On Time Tax Consultants are not the only local tax preparation service targeting lower income individuals in our community. Liberty Tax Service, located at 3320 Southwest 35th Boulevard, Gainesville, Florida, has also been under… Continue reading Liberty Tax Service Alleged “Crack for Tax” Scandal
The IRS is cracking down on Tax Fraud by Return Preparers. While most tax return preparation providers are competent to handle most of your tax return needs, there are still those lurking amongst us whom are con artists filing fraudulent tax returns and stealing their client’s money. Don’t believe it can happen to you? Think… Continue reading Alleged Tax Scammers Target Lower Income Taxpayers
QUESTION: What happens if I owe the IRS money but after paying my living expenses/bills, I currently can’t afford to pay my tax liability? ANSWER: Depending on your particular situation, there are several options. If you are going through a financial hardship, the IRS may be willing to suspend collection activity to allow you the… Continue reading Tax Q & A – I Currently Can’t Pay the IRS because of an Economic Hardship
QUESTION: I Know My Tax Return is Due, but I Cannot Pay the Taxes…Should I Still File on Time? ANSWER: YES, YES, and YES! Even though you will not be able to pay the full amount of your taxes when you file your Income Tax Return, you should still file on time to prevent the… Continue reading Tax Day Countdown Q & A
IRS Letter 525: General 30 Day Letter. This is a notice from the IRS informing you of potential mistakes concerning items on your tax return. These errors may be mathematical or clerical errors in preparing your tax return. This letter is accompanied by a report including the computations of their proposed adjustments. If you agree… Continue reading Common IRS Letters and Notices
If you just received a letter from the IRS, you may be freaking out and envisioning the IRS breaking down your door – swat team in tow – to raid your house for valuables to satisfy your tax debt. Before you shred the letter in hopes it will magically disappear forever, take a moment to… Continue reading IRS Audits and Letters…AUGH, what does this mean?!
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… Continue reading Settle Your Tax Debt for Pennies on the Dollar – If It Sounds Too Good To Be True, It’s Probably a Scam!
Those of you lucky enough to take advantage of the First-Time Hombuyer Tax Credit might be getting a not-so-lucky tax assessment. Somehow the IRS managed to record the wrong purchase date for 73,000+ homebuyers cashing in on the credit. This IRS screw-up could be costly for the unfortunate taxpayers affected. When the First-Time Homebuyer’s Tax… Continue reading IRS Incorrectly Records 73,000+ Purchase Dates for Taxpayers Claiming the First-Time Homebuyer Credit