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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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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November 11th, 2014 → 2:06 pm @ Lance R. Drury // No Comments
Law abiding, small business owners and ordinary citizens must be increasingly cautious to avoid getting into trouble with the IRS. For the last few years, the IRS has been implementing a process referred to as “civil asset forfeiture” to seize bank accounts and other assets. Originally created as a way to track the cash of criminals such as drug traffickers and terrorists, the IRS has turned their sights to average business owners even though they have no criminal records, nor have they committed any serious crimes.
Once the IRS seizes an account, they can take the money without filing a criminal complaint.
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November 10th, 2014 → 4:43 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” tells employers that as trustees of the U.S. government they are obligated to send in payroll taxes or suffer the consequences.
St Genevieve, MO, November 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 blog on the LANCE DRURY LAW website entitled “Using Withheld Payroll Taxes For Other Expenses is Dangerous Business.” Once you become an employer you also become a trustee of the U.S.
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November 6th, 2014 → 3:33 pm @ Lance R. Drury // No Comments
Unfortunately many employers fall into this very dangerous trap during financially stressful times. Be forewarned though that any other means of meeting financial obligations is preferable to using payroll taxes.
Any individual within a company who distributes payroll checks to anyone considered an employee is automatically considered a trustee for the U.S. government. A percentage of the payroll taxes that are withheld are called “trust fund taxes” and belong to the government.
If payroll taxes are misused to pay other expenses instead of making payment to the IRS, they will assess what is called a trust fund civil penalty also known as a trust fund recovery penalty (TFRP).
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September 18th, 2014 → 3:09 pm @ Lance R. Drury // No Comments
St Genevieve, MO, September 18, 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 “Are You Inviting IRS Troubles by Misclassifying Employees as Independent Contractors?” Businesses are always looking for tax loopholes and ways to legally avoid paying taxes. Classifying employees as independent contractors is tempting and may work temporarily, but the IRS is always looking for employers trying to evade taxes this way.
Lance Drury says, “The IRS does not like to lose money. So when they see workers designated as independent contractors, it is like an open invitation to initiate an audit.” He continues advising employers, “Be very careful before deciding who is and who is not an independent contractor.
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September 17th, 2014 → 3:38 pm @ Lance R. Drury // No Comments
Don’t do it. This happens to be one of the most common mistakes many business owners make today. In an attempt to get away with not paying payroll taxes they intentionally misclassify certain people who do work for their businesses as independent contractors. Be very careful before deciding who is and who is not an independent contractor. It could cost you tens of thousands of dollars or more in heavy penalties, fines and back taxes owed to the IRS. The IRS does not like to lose money. So when they see independent contractors, it is like an open invitation to initiate an audit.
July 9th, 2014 → 3:54 pm @ Lance R. Drury // No Comments
You’ve run into trouble with the taxman. After doing your research and finding someone to work with, you’ve decided to hire a tax resolution attorney to help you get through this challenging time. That is the smartest thing you can do. But, please, don’t stop now. Even though you do not have to deal directly with the IRS, you still have work to do. Even the best tax resolution attorney cannot help if you do not provide the appropriate paperwork on time.
Patience is a virtue the IRS requires of everyone, especially when they owe you money. However, when it comes to owing them, they do not have any patience whatsoever.
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July 2nd, 2014 → 8:14 pm @ Lance R. Drury // No Comments
Being at odds with the IRS is one of the things in life everyone goes to great lengths to avoid. Unfortunately it happens – and far more frequently than the average person might expect. People from every socio-economic group find themselves owing money to the IRS. It happens to people you know are decent and responsible and to those you might judge as being less than exemplary. Rich and poor alike make mistakes that can land them owing back taxes. No one is immune.
If you find yourself faced with IRS problems, do not despair. While we’ve all heard horror stories about people whose lives have been ruined by federal tax issues, if you can keep your wits about you and remember a few things from the start, you can avoid devastating consequences.
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