February 23rd, 2015 → 10:01 pm @ Lance R. Drury // No Comments
Not only did song and dance playwright, George M. Cohan lead the way on Broadway, he also broke new ground with the IRS. Cohan who wrote Broadway hits like “Give My Regards to Broadway” and “Yankee Doodle Boy” paid for much of his travel and entertainment with cash and was bold enough to go up against the IRS when, back in the 1920’s they denied all his deductions.
We all know how important it is to keep our receipts in case we ever get audited, especially travel and entertainment receipts the IRS already looks upon with suspicion. However, most people don’t know about or think about the Cohan case.
Blog &IRS &IRS tax &IRS Tax Help &Lance Drury &Lance Drury Law &Resources &tax issues &Tax Law &Tax Relief &tax resolution &Tax Resolution Attorney
February 19th, 2015 → 7:21 pm @ Lance R. Drury // No Comments
This story is music to my ears! Earlier this month, the IRS apologized for seizing the bank accounts of innocent, law-abiding citizens. Not only did they say, “I’m sorry”, they also said they were going to change their ways. That’s a first.
The Associated Press published the article which stated, “Pressured by Congress, the IRS said Wednesday it is changing its policies and apologizing for seizing banks accounts from otherwise law-abiding business owners simply because they structured bank transactions to avoid federal reporting requirements.”
(www.finance.yahoo.com/news/irs-apologizes-seizing-bank-accounts-172627143.html)
The interesting thing about the above statement is that the IRS, while apologizing, is also alleging that the business owners whose accounts were seized were actually guilty of structuring their bank deposits in order to avoid paying taxes.
Blog &fraud &IRS &IRS tax &IRS Tax Help &Lance Drury &Lance Drury Law &Resources &tax issues &Tax Law &Tax Masters &tax resolution &Tax Resolution Attorney &tax solutions &taxes
February 12th, 2015 → 9:38 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” writes about the burden imposed on do-it-yourself tax filers who have been used to the robust IRS customer service programs that no longer exist.
St Genevieve, MO, February 9, 2015: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 “Budget Cuts at The IRS Spell Disaster for Many Taxpayers” just when Americans thought tax season couldn’t get any more stressful!
Blog &IRS &IRS tax &IRS Tax Help &Lance Drury &Lance Drury Law &Resources &tax issues &Tax Law &tax problems &tax resolution &Tax Resolution Attorney
December 29th, 2014 → 8:00 am @ 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” small businesses, home based entrepreneurs and companies offering health care flexible spending accounts get a little tax relief.
St Genevieve, MO, December 29, 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 “New Tax Breaks For Small and Home Based Businesses.”
It may not be the year-end celebrating causing that headache, but the prospect of the looming tax season.
April 10th, 2014 → 4:30 am @ danielle // No Comments
Owner of Tax Cash Sooo Fast pleads guilty to filing false income tax returns.
Apparently, the IRS gives no points for creative writing.
Kesha Spencer, 39, of Cincinnati, Ohio, recently found this out the hard way, as she pled guilty to one count of aiding and assisting in the preparation of false federal income tax returns.
According to court documents, Spencer operated a tax preparation business located in Cincinnati, Ohio known as Tax Cash Sooo Fast. She prepared and electronically filed approximately 200 false federal individual income tax returns with the IRS for each of the 2010 and 2011 income tax years.
April 3rd, 2014 → 4:26 am @ danielle // No Comments
A New Mexico farmer has been ordered to pay more than $18 million in restitution and sentenced to 14 years in prison for tax fraud and fraudulently collecting government-sponsored farm subsidies.
According to prosecutors, Bill Melot, of Hobbs, hasn’t filed a personal income tax return since 1986.
They say he owes the Internal Revenue Service more than $25 million in federal taxes.
Melot was convicted of tax evasion, failure to file tax returns, making false statements to the USDA and impeding the IRS following a four-day jury trial in Albuquerque.
He must pay nearly $18.5 million in restitution to the IRS and about $227,000 to the U.S.
March 28th, 2014 → 4:23 am @ danielle // No Comments
If a tax preparer promises a return that sounds too good to be true, it probably is.
This tax season, the U.S. Attorney is promising a crackdown on unscrupulous tax-preparers. Here is a cautionary tale.
Bryan Gardner is serving six-and-a-half years in prison. His brother, Jeremy Lasane, is serving 12 years, and he also has to pay back almost $800,000.
They were convicted of income tax fraud and identity theft for ripping off the social security numbers of innocent victims and filing false tax returns.
They are just two of the many white-collar criminals the U.S. Attorney’s office is targeting this tax season.
March 21st, 2014 → 12:00 pm @ danielle // No Comments
Did you know that you have the power as an individual taxpayer to appeal almost any decision made by the IRS? In fact, you can appeal audit findings, penalties and interest, rejected offers-in-compromise, liens, seizures, garnishments and other collection actions.
According to the IRS, “Appeals is not for you if:
– Your only concern is that you cannot afford to pay the amount you owe.
– The correspondence you received from the IRS was a bill and there was no mention of Appeals.”
So in these two instances, an appeal would be a premature action to take. If you are concerned that you cannot afford the pay the tax you owe, there are channels to go through before you would begin the appeal process.
March 17th, 2014 → 12:00 pm @ danielle // No Comments
If you owe money to the IRS, and you are receiving Social Security benefits due to: Federal Old-Age and Survivors Trust Fund (or) Disability Insurance Benefits. The IRS can take 15% of your Social Secu-rity payments to satisfy your tax debt.
Prior to 1996, there was a $750/month “off limits” amount that had to be left for the Social Security recipient. However, that changed with the introduction of the Federal Payment Levy Program, which allowed for 15% of the total monthly payment to be collected – regardless of the amount.
However, benefit payments such as lump sum death benefits, benefits paid to children are not eligible.
March 14th, 2014 → 4:26 am @ danielle // No Comments
The government recently argued that it has the authority to regulate tax return preparation businesses using a “dead horse” law as precedent. Tax preparers, represented by the Institute for Justice, challenged the ruling in the case Sabina Loving et al v. Internal Revenue Service.
At the hearing of the Court of Appeals for the District of Columbia circuit, both sides argued about the applicability and precedent of an 1884 law that applied to loss claims regarding horses dead or missing because of the Civil War.
The proposed regulations call for tax preparers to pass a competency test upon opening shop. Tax preparers would also be required to keep up with annually updated continuing education.
Though this case is obviously a cause of concern for many tax return preparers, the issue is far from settled.
