Blogs

Tax debt resolution can sometimes involve the reduction of a tax debt amount, a reduction of penalties, and/or the forgiveness of a tax debt. Even though a reduction or a forgiveness of an IRS debt is achieved taxpayers who clear strict qualifying guidelines, taxpayers can make efforts to get their penalties reduced or forgiven to... Continue reading →

Investigations into Apple Inc’s tax strategy reveal how the multi-national giant evaded taxes in the U.S. by creating an Irish subsidiary. Apple, which is based in Cupertino, California, paid close to no taxes in Ireland while making billions in profit. It is believed the Irish subsidiary of Apple has no employees.Shifting income to low-tax countries... Continue reading →

U.S. multi-national companies are being investigated to ensure they are complying with the U.S. tax code. During a U.S. Senate investigation of Apple Inc., it was found the company used subsidiaries in Ireland to pay a much lower corporate tax rate and minimize its tax liability in the U.S.Although Ireland denies it gave special privileges... Continue reading →

Apple Inc. is unapologetic about its tax strategy in Ireland, which helps the company evade taxes in the U.S. legally. The company is accused of using loopholes in the tax code to minimize its tax liability. An investigations into the tax strategy of Apple led investigators to Ireland where the company has subsidiaries that pay... Continue reading →

The resolution of tax debt may or may not require the payment of the debt. Currently Not Collectible is an IRS payment plan where taxpayers receive a stay of collections and the postponement of payment because of their inability to fulfil the tax debt in their current financial situation.If taxpayers do not have the ability... Continue reading →

There are various IRS tax debt payment plans taxpayers can use to achieve a successful tax debt resolution. Although some payment plans involve the full payment of tax debt, there are IRS plans that allow taxpayers to pay a partial amount or postpone the payment of tax debt.Taxpayers need to calculate their financial strength, including... Continue reading →

Questions about Apple’s tax activities led to the discovery that the company used shell companies based in Ireland to keep a large part of its profits in Ireland in order to evade taxes in the U.S.Irish Prime Minister Enda Kenny, who was attending an EU summit on tax evasion said, “Ireland’s corporate tax rate is... Continue reading →

Tax evasion by the wealthy and large corporations amounts to billions in lost revenue for the Treasury each year. The U.S. government, looking to increase revenue, is now going after taxpayers who do not fulfil their tax obligations by hiding assets overseas. Apple Inc. is currently in the news for evading billions in taxes by... Continue reading →

It is becoming increasingly difficult for tax evaders to hide their assets overseas. The Foreign Account Tax Compliance Act (FATCA) has brought greater transparency in financial dealings of U.S. taxpayers with offshore bank accounts. The IRS is making deals with more countries in order to cut down on tax evasion by wealthy taxpayers who hide... Continue reading →

Most taxpayers believe that if they cannot pay their IRS debt, they cannot resolve it. It is a myth that leads to many taxpayers facing tax liens and tax levies. Therefore, it is essential for taxpayers to know that the IRS provides them with various options to satisfy their tax debt.The IRS has payment plans... Continue reading →