February 9th, 2015 → 4:56 pm @ Lance R. Drury // No Comments
As more Americans are becoming aware of the controversial and, frankly criminal program that has caused the ruin of small businesses and damaged the lives of thousands of innocent people, Civil asset forfeiture has, according to a recent Washington Post article “become one of the few public policy and social issues that united activists and lawmakers across the political spectrum, some of whom dubbed the system ‘policing for profit.’”
The program which includes monitoring bank deposits began more than 30 years ago as part of the war on drugs. The Post article reports that, “Since 2008, thousands of local and state police agencies have made more than 55,000 seizures of cash and property worth $3 billion under a civil asset forfeiture program at the Justice Department called Equitable Sharing.” They are entitled to make these seizures “without proving that a crime occurred”, as stated by Attorney General Holder who finally, last Friday, barred local and state police from using federal law to make any further seizures without proving that a crime occurred.
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February 4th, 2015 → 6:32 pm @ Lance R. Drury // No Comments
In a recent article, I wrote about the highly controversial Civil Asset Forfeiture program, which allows the IRS to monitor and seize the assets of small businesses and individuals without ever having to prove they were in any way involved in criminal activity. Initially originated as a way to target alleged terrorists and tax evaders, the IRS decided to target anyone who makes a series of small deposits in a relatively short period of time that adds up to $10,000 or more.
All financial institutions in the U.S. are required by law to fill out forms and submit them to the IRS alerting them to this type of activity.
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December 29th, 2014 → 12:20 am @ Lance R. Drury // No Comments
With the closing of the year, it’s time to start thinking about preparing to file your taxes. Never a pleasant topic, but it is one that must be broached. The sooner you begin preparing, the sooner you can file and the sooner it will be over. To make it a little easier on the indigestion, there are a few new tax breaks that pertain to small businesses, home based entrepreneurs and employers offering health care flexible spending accounts.
First, according to “Key tax changes for 2014 and beyond” on Bankrate, referring to new tax rules favoring small and home based businesses, the article states, ““Under the new rule, you can bypass detailed expense records and simply deduct $5 for every square foot of home office space used, up to a maximum of 300 square feet, or $1,500.
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December 10th, 2014 → 3:14 pm @ Lance R. Drury // No Comments
Tax resolution attorney Lance Drury, founder of the Law Firm of Lance R. Drury, and best selling author of “Successonomics” encourages anyone with a Federal Tax Lien filed against them by the IRS to seek the guidance of a reputable attorney.
St Genevieve, MO, December 10, 2014:Tax resolution attorney Lance Drury, founder of the Law Firm of Lance R. Drury, and best selling author of “Successonomics” posted a new article on the LANCE DRURY LAW website entitled “How to Make an IRS Tax Lien Disappear as Though It Was Never There.” Surprises are not always good, especially when it’s an IRS tax lien. According to Drury, “You could have an IRS tax lien attached to your business or personal assets and not even know it.”
Here’s why.
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December 10th, 2014 → 3:01 pm @ Lance R. Drury // No Comments
You could have an IRS tax lien attached to your business or personal assets and not even know it. Why? Because the IRS notifies taxpayers after they’ve filed the lien. Once the IRS has filed the lien with the county you live in, then they will send you a Notice of Federal Tax Lien. The lien then becomes effective ten days after the IRS issues a written demand for payment of outstanding taxes.
So, those who know they owe the government taxes may not be surprised to find out they have a tax lien. However, many unsuspecting people are in the dark about how and why the lien is attached and what to do when they find out.
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December 8th, 2014 → 5:27 pm @ Lance R. Drury // No Comments
Tax resolution attorney Lance Drury, founder of the Law Firm of Lance R. Drury, and best selling author of “Successonomics” elaborates on the different types of business bankruptcies and the tax implications.
St Genevieve, MO, December 8, 2014:Tax resolution attorney Lance Drury, founder of the Law Firm of Lance R. Drury, and best selling author of “Successonomics” posted a new article on the LANCE DRURY LAW website entitled “Taxes and Business Bankruptcy.” Whether a business is small or large, a partnership or corporation, deciding on bankruptcy is never an easy decision.
As Drury launches into his article he states, “Complex tax codes make filing for bankruptcy something no business should ever attempt to do without the services of a very seasoned tax resolution attorney.
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December 8th, 2014 → 5:21 pm @ Lance R. Drury // No Comments
Complex tax codes make filing for bankruptcy something no business should ever attempt to do without the services of a very seasoned tax resolution attorney. From determining which type of bankruptcy to file, to understanding the tax implications are just the beginning of a long and complicated process.
Two types of bankruptcy exist for businesses that find themselves in financial distress and are unable to pay their debts. Chapter 11 Bankruptcy is also known as “reorganization.” Very often the business continues to function with Chapter 11 Bankruptcy. Chapter 7 Bankruptcy for a business requires liquidation of all assets. A court appointed trustee is assigned to oversee the sale of the assets and to oversee the entire bankruptcy process.
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December 4th, 2014 → 3:47 pm @ Lance R. Drury // No Comments
Tax resolution attorney Lance Drury, founder of the Law Firm of Lance R. Drury, and best selling author of “Successonomics” provides an overview of taxes that can be discharged under Chapter 7 Bankruptcy and the specific requirements that must be met.
St Genevieve, MO, December 4, 2014: Tax resolution attorney Lance Drury, founder of the Law Firm of Lance R. Drury, and best selling author of “Successonomics” posted a new blog on the LANCE DRURY LAW website entitled “A Guide To Taxes That Can and Cannot Be Eliminated in Chapter 7 Bankruptcy.” Sometimes the only way out of mountainous debt is bankruptcy.
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December 3rd, 2014 → 4:02 pm @ Lance R. Drury // No Comments
When bankruptcy is the only route to take in the face of overwhelming debt, it is important to be aware that some tax debt may be discharged while other taxes are not eligible for discharge. Most tax debt is eliminated under Chapter 7 Bankruptcy while Chapter 13 Bankruptcy requires a payback plan. Use this review of taxes that can and cannot be eliminated as a guide, and always retain the most experienced tax resolution attorney you can find to help you navigate the sea of paperwork and filing requirements.
Determinations That Allow Tax Discharge.
The Law allows certain tax debts to be discharged in Chapter 7 Bankruptcy.
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November 12th, 2014 → 5:16 pm @ Lance R. Drury // No Comments
Tax resolution attorney Lance Drury, founder of the Law Firm of Lance R. Drury, and best selling author of “Successonomics” issues a warning to both business owners and individuals to be more cautious about making deposits to their accounts that would make them IRS targets.
St Genevieve, MO, November 12, 2014:Tax resolution attorney Lance Drury, founder of the Law Firm of Lance R. Drury, and best selling author of “Successonomics” posted a new blog on the LANCE DRURY LAW website entitled “Beware: If You Make a Series of Deposits Totaling $10K, The IRS Could Seize Your Accounts.” Being a law-abiding businessperson or wage earner is no guarantee of safety from having assets seized by the IRS.
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