Blogs

Instead of recovering from the blows of the Tea Party controversy and their $4.1 million training conference, the IRS has stepped into another mess. The IRS gave tax credits worth $2 billion to paper industry companies in 2010. This has led to suspicions and questions regarding the IRS tax credit review process. There has also... Continue reading →

The IRS seems to have one controversy after another. After the Tea Party controversy, the IRS has now found itself in trouble over tax credits. The IRS passed $2 billion worth of tax credits that benefitted the paper industry.According to a report by The Washington Post, William Henck, an IRS employee who was the legal... Continue reading →

For 2013, the IRS has simplified the tax debt resolution process for the two most commonly used tax debt resolution methods, the Installment Agreement and Offer in Compromise programs. Taxpayers who fulfill the eligibility requirments for these tax relief programs will find it simpler to pay their tax debt.The IRS has also increased the threshold... Continue reading →

Segal, Cohen & Landis, who recently improved its position within Consumer Tax Reviews’ top 10 list, has been presented with the Most Ethical Company Award for 2013 due to the company’s consistent hard work to provide honest tax advice and attainable resolutions for taxpayers.Segal, Cohen & Landis has consistently stayed within the top 5 rated... Continue reading →

Enacted in March 2010, the Affordable Care Act (ACA) aims to provide affordable health care by reducing the overall costs of health care and making it mandatory for all Americans to have coverage.Some of the provisions of the act have been implemented, and some will be implemented soon. The present provisions will impact the tax... Continue reading →

Tax Defense Network has held the top spot on Consumer Tax Review’s list consistently since 2011, due to their A rating or higher with the Better Business Bureau, abstinence from offering the highly restrictive IRS program Offer in Compromise, employing all essential tax professionals, establishment of a client-centric department, and the full tax professional profiles... Continue reading →

The Foreign Account Tax Compliance Act (FATCA), enacted by Congress in 2010, was introduced to curb tax evasion. Under FATCA, foreign financial institutions are required to share tax sensitive information about the financial accounts held by U.S. taxpayers in their country. Those U.S. taxpayers who hold a substantial ownership of interest in foreign entities also... Continue reading →

The Obama administration has been working to increase revenue through increasing taxes. For 2013, the month of April brought good news for them, as it made a record for revenue generation. The U.S. Treasury received a surplus of $113 billion for the month, which is the since 2008.The policy of increased revenue generation, coupled with... Continue reading →

To collect more revenue and improve compliance, the government is focusing on introducing new tax laws and altering old ones.  The beginning of 2013 brought many of these tax changes, and the trend seems to be continuing with a proposed Internet sales tax bill.Apart from the new tax on investment income and Medicare taxes, taxpayers... Continue reading →

In June 2012, the IRS announced that its Offshore Voluntary Disclosure Programs (OVDP) recovered more than $5 billion in hidden tax money from overseas accounts. In April 2013, government investigators stated the IRS collected more than $5.5 billion under a series of OVDP programs. The success of OVDP is apparent.Under OVDP, taxpayers with hidden assets... Continue reading →