Blogs

Keeping yourself informed about the various threats you may face because of tax scams is your best safety. There is little taxpayers can do once they have fallen into the trap of fraudsters. Therefore, it is important to stay protected from harm.Tax Scams to Watch Out ForTop scams that you need to stay aware of... Continue reading →

If you have U.S. filing or income reporting requirements and are required to use an Individual Tax Identification Number (ITIN) on your tax return, there are some important factors to remember. If you have not submitted a return with your ITIN for five consecutive years, then your ITIN may be deactivated by the IRS. Even... Continue reading →

President Barack Obama’s controversial healthcare plan, which requires all Americans to have healthcare insurance, was upheld by The Supreme Court. This victory is now leading to many questions concerning the penalty and how the IRS will enforce the new plan.Some sections are of the opinion that because the penalty for non-compliance is so little ($95... Continue reading →

The controversial healthcare plan put forward by President Barack Obama and upheld by The Supreme Court will put more burden on the IRS. Now, the IRS will need to enforce the new healthcare plan, a role which it is not comfortable doing.Steven Miller, IRS deputy Commissioner, said, “We will not use levies, liens or criminal... Continue reading →

The IRS is reluctant to use its agents in enforcing the new health insurance plan that requires all Americans to buy health insurance. Under the plan, which was upheld by the court this year, anybody who does not have health insurance will need to pay penalty to the government.Although the penalty is $95 or 1... Continue reading →

The IRS sends notices for the payment of back taxes with details about the amount of taxes owed and the various options of payment. The taxpayer then has the choice to either to resolve their tax debt or challenge the IRS’ claim. The IRS has been known to make a mistake when determining the amount... Continue reading →

The IRS can begin the collection process for taxes owed at any time, and when it does, the total taxes owed are usually much more than original amount stated due to penalties and interest.Michael Jackson is in the news for back taxes years after his death. The IRS claims that the Jackson estate owes $702... Continue reading →

If you have an unused Individual Tax Identification Number (ITIN), the IRS may deactivate it if you have not used it for five consecutive years. This is in accordance with the new IRS policy that the IRS announced last week. Even though at present the IRS has not deactivated any ITINs, it will begin to... Continue reading →

Offshore Voluntary Disclosure Program (OVDP) allows taxpayers that have evaded taxes to get back into tax compliance without facing harsh punishment for it. The IRS initiated OVDP again in 2011 after its 2009 success. Along with Foreign Account Tax Compliance Act (FATCA), the IRS is using OVDP to get taxpayers that have been hiding income... Continue reading →

Currently, 13 U.S. states recognize same-sex marriage, including California, Connecticut, Delaware, Iowa, Maine, Maryland, Massachusetts, Minnesota, New Hampshire, New York, Rhode Island, Vermont, and Washington), plus the District of Columbia, several counties in New Mexico, and six Native American tribal jurisdictions.The movement to achieve equal marriage rights for same-sex couples began in the 1970s, but... Continue reading →