Blogs

The IRS phone scam began even before the 2014 tax filing season and was called the largest tax scam ever of its kind. Sadly, it did peter out with the tax filing season, and still continues, claiming victims from across the country.The scam is carried out by the scammers pretending to be from the IRS,... Continue reading →

The Foreign Account Tax Compliance Act (FATCA) was established to fight tax evasion. On July 1, 2014, the law will take full effect. Under FATCA, both U.S. citizens living overseas and foreign financial institutions are required to report to the IRS.Before FATCA, the U.S. had agreements with various countries to limit tax evasion, but those... Continue reading →

Small businesses can get important information about their tax liabilities directly from the IRS through its webinars. The IRS conducts webinars on different topics to help taxpayers and tax professionals to gain information about tax laws. This year, the IRS is holding two webinars on small businesses on 13th May and 15th May. The webinars... Continue reading →

Identity theft has been a major problem for the IRS for years. Identity theft topped the IRS’ list of the top 12 tax scams in the country for two years running. Given the difficulty in identifying and tracking the fraudster, along with the complexity of the scam, the IRS continues to struggle in keeping this... Continue reading →

A large number of U.S. citizens living overseas have renounced their U.S. citizenship because of the hefty penalty for tax evasion, intentional or not, and strict complying factors. Many others are left with the additional burden of complying with the U.S. tax laws or face heavy penalties and risk imprisonment.Americans living overseas voiced their displeasure... Continue reading →

The end of the year, preferably before the holidays, is the best time to review your financial and tax planning for the year, and make any corrections necessary.  If you want to make investments or take advantage of the tax credits and deductions for 2014, then you must do so now to lower your tax... Continue reading →

The 2015 tax season is just a couple of months away.  Though you have months to file your 2014 taxes, it is advisable to do so early. Filing your return in the beginning of the tax season helps to avoid fraud and scam attempts, such as identity theft.  Also, filing early helps you get your... Continue reading →

According to a 2013 Census Bureau data, “the majority of the retirement-age population had some source of household income besides earnings at their disposal. Only 11% of workers and 4% of non-workers reported no other source of income.” The net worth of a household income is a vital factor in the economic well-being of people... Continue reading →

Tax scammers continue to change their methods of operation. As taxpayers become familiar with their tactics, the methods of scamming evolve. The latest tax scam that the IRS has alerted taxpayers to is the ‘Update your IRS e-file’ scam. This is a phishing scam where the email appears to be from the IRS and has... Continue reading →

Blue Tax, who recently improved its position within Consumer Tax Reviews’ top 10 list, has been presented with the Best Customer Support Award for 2013 due to the company’s ongoing efforts to assist taxpayers with their tax debt more efficiently.Blue Tax has stayed within the top 5 of Consumer Tax Reviews’ top 5 list since... Continue reading →