Tax Relief Companies

Corporate tax evasion has been in the news for a while. When Apple Inc. faced charges of evading taxes by not bringing their profits made overseas to the U.S., the company quoted high corporate tax rate as the reason many multinationals evade taxes legally. Even though this argument is considered to be the reason for…

Even though tax evasion is illegal, but there are plenty of tactics corporations use to reduce their tax liability to zero. One such method is known as tax inversion. Providing excessive bonuses to employees and showing these as legitimate expenditures are another. Loopholes in the tax code provide opportunities for companies to evade taxes legally….

It’s common knowledge that large corporations with resources legally evade taxes using subsidiaries in countries with lower tax rates. Another method of legally reducing tax liability is to pay employees millions of dollars. That’s how many top companies managed to reduce their tax liability to zero.According to a story by USA Today, an analysis of…

A number of individuals with tax debt use installment agreements to settle their liability in payments, rather than all at once. Even though taking care of the full debt amount in one payment is advantageous, as it minimizes the penalties and interest to be paid, installments tend to be more convenient for most.An installment agreement…

When you’re required to file and pay taxes but don’t, the IRS uses information from your previous tax returns and third party sources to calculate the amount you owe. The IRS then files a substitute tax return on your behalf. It’s important to remember that what the IRS assesses is an estimation of your liability,…

Tax fraud doesn’t just occur during tax season. Fraudsters are finding new ways to bilk taxpayers and you may expect scam attempts during the entire year. The IRS phone scam is a prime example of a current and overwhelming problem. However, by following a few simple tips, you can protect yourself from becoming a tax…

Even though most tax preparers are honest, there are a few that file fraudulent tax returns on behalf of their clients to claim huge refunds. Sometimes, the fraud is conducted without the knowledge of the taxpayer client and sometimes with consent taken through persuasion or deception. There are a few signs that will help you…

In complex tax debt cases or if taxpayers are intimidated about interacting with the IRS, it is wise to use outside help. If a taxpayer can pay the entire amount of back taxes in a single payment, or if the amount of back taxes due is smaller where they have full capability of payment, there…

When you do not pay your taxes on time, the IRS will start collection efforts to recover the full amount of the tax debt. It’s important to remember that the IRS will always look to collect the most it can under the present circumstances, but will consider tax debt reduction or postponement of payment if…

The Treasury loses billions of dollars of revenue each year due to tax evasion. This sizable loss of money is due to both legal and illegal tax evasion. In an effort to thwart illegal practices such as hiding income in overseas banks or tax havens and under-reporting income, the IRS implemented the foreign account tax…