This is the last couple days to complete financial task which could result in major tax deductions next year. Keyword: tax loopholes

Always remember, you are required to report all income, regardless of how you earned it. IRS whistleblower program is active.

Always remember, regardless of "how" you earn your income, report it. IRS whistleblower program pays 15 to 30% of collected taxes!

Remember: You can deduct $25 for business gifts you give directly or indirectly to each person during your tax year. A tip from: http://ping.fm/UcgJ7

Making Work Pay Tax Credit may cause over 13M to get higher tax bill: http://ping.fm/zMuHp

Need legal tax writeoffs? Single/family? High earnings, no dependents? Year end/future tax loopholes http://ping.fm/t9o1p

Do your research. Why are heavy hitting investors buying gold? Every day citizens can purchase gold from the US Gov. Use search engines

In 2009 there were over 144 million Individual tax returns filed. Of thoes, 1.2 million were examined by the IRS.

In 2009 over 33 million tax returs were filed late. IRS filed 965,618 Notices of Federal tax liens. Back taxes prepared http://ping.fm/iezxP

Need to learn more? IRS new Form 8941 Employer Health Insurance Premium Credit http://ping.fm/WfPdy

Don't wait until April 15 to find out your status with the IRS, use the IRS Withholding Calculator http://ping.fm/tQS6U

IRS has $164.6 million in undelivered refund checks. 111,893 taxpayers-wrong address Tell a friend. http://ping.fm/SDKU0

Needed San Jose, area: tax preparers for a contract assignment starting the 2nd wk Dec Spanish/English/CTEC $23p/hour contact more info.

No your make-up is NOT a legal tax deduction, unless you are employed as a model, actor, or entertainer. How many times do I have to say it?

Do you know what an Invoice Line of Credit is? Working Capital, without a credit check! http://ping.fm/y67pp

If you don't legally have to file a tax return, you may want to read this article. The IRS may still owe you! http://ping.fm/ccUDI

If you could give to charity, help others and get a write off, would you? Learn how: http://ping.fm/2sYfa

Inspirational article: How to Realize Success by Recognizing Failure: http://ping.fm/UkWvn

Third post is a charm. Investment Tip: Gold. You can purchase gold coins from the US Gov. Small investment, high returns!

How one young couple avoided a large capital gain tax. http://ping.fm/Q0Ywa

If you own a web site for the purpose of making a profit, ALL expenses connected to that web site are tax deductible. http://ping.fm/ObSja

Article on how to select small cap stock that will increase. http://ping.fm/mCMnf information

What factors do you look for in a stock that you hope will make you wealthy?

Tax Trivia: What factors make the IRS computer suspicious of a tax return?

Did you forget to save for retirement? Now What?Web site has options for retirement living. http://ping.fm/vLCHr

Commission only, sales/marketing job opening. AR Specialist, p/t Providing money to cash strapped businesses! http://ping.fm/tqaq7

Remember, when deciding on IPOs, wealth is in the picture when an entire industry can be displaced or changed!

Home office expenses, which can be deducted on your taxes, http://ping.fm/Jg97R more extensive list to come

Tax Loophole 101. Can you say "defer income?" That's how the CEOs, avoid massive taxes. Defer, defer, defer. Invest my defered income.

Is the idea of creating a non-profit organization, to funnel your "for profit corporation's" profits, dead? hint, hint, hint ... investigate

Looking for ways to legally avoid capital gains taxes this year? Check out http://ping.fm/6r2d6

The Number One Reason Taxpayers Loose in an IRS Audit, http://ping.fm/aFpQ1

Buffett and Gates now have $1.9 billion in this one stock. Information on SEC reporting http://ping.fm/jdGGk

Please, check with an experienced tax professional before you invest in an Offshore Company to avoid taxes on currency exchanges. IRS is awake

Latest news on Iraq and the Dinar updates, Veterans involved in speculation http://ping.fm/F0lTE

Heads up. Congress preparing to vote on Transaction Tax for Dinars - 1%s

New law signed today, tax cuts for small businesses, up to $14 billion in federally funded loans aimed at stimulating job creation http://ping.fm/7nUlz

New Energy Tax Credits for Non-Business - Credits increasing- http://ping.fm/pwK0N

The buzz about dinars is growing stronger. Reliable says not to worry about where to exchange foreign currency. Iraq is moving forward.

There is a lot of buzz happening about the Dinar. Remember, when cashing in the Dinar, the IRS will be notified of large transactions.

There is a thin line between a mistake and fraud, on a tax return. The penalty is 75% of the amount you underreported, if deemed fraud

If you file a tax return late, and don't owe any taxes, there is no penalty.

If the IRS is threating to Levy your assets, You can "cry hardship," especially if you are recently unemployed.

Tax loopholes for web site owners. Get same benefits as ordinary home businesses. http://ping.fm/8F7Gy

If you have received a 1099-MISC, for the first time, here is what you must do, http://ping.fm/PsKps This information has been reported to the IRS and can cause serious problems, if not dealt with correctly.

How to avoid an audit when filing back taxes, especially if filed after April 15
http://ping.fm/zjwAj The IRS is not so rushed and they have more time to investigate red flags.

The number one tax loophole: Defer Income
12 Major tax loopholes, which can make a difference, http://ping.fm/tgOp6

If you have not filed your 2009 taxes, this page will give you a summary of new tax laws and changes for 2009 http://ping.fm/Tcgoy

If you are over 40, this site might be of help, especially if you forgot to save for retirement, http://ping.fm/pIkbi There are options. Infact the options appear to be better than the normal retirement choices Americans select. Take a look, it will reduce your stress over saving for retirement.

Starting off right with the IRS, Tax Tips for Students working his summer, http://ping.fm/sHZTu Getting in trouble with the IRS is no joke. You feel as if you are not in control of your life or your future. It's a vast feelilng of empty. This short article will help students understand what the IRS expects of them. Getting off on the right foot is half the battle. Following through, is the other half

Information on IRS Penalties and Getting them Eliminated! Do you qualify? http://ping.fm/x01iD

Work Related Stress Contributing to Unfiled Tax Returns http://ping.fm/uKJVO

The Internal Revenue Service announced that interest rates for the calendar quarter beginning October 1, 2010, will remain the same.

IRS Announces Interest Rates for Fourth Quarater of 2010

The Internal Revenue Service announced that interest rates for the calendar quarter beginning October 1, 2010, will remain the same. The rates will be:

four (4) percent for overpayments [three (3) percent in the case of a corporation];
four (4) percent for underpayments;
six (6) percent for large corporate underpayments; and
one and one-half (1.5) percent for the portion of a corporate overpayment exceeding $10,000.

The IRS is making every effort to help unemployed taxpayers who owe back taxes. However, unfiled past due tax returns must be filed. http://ping.fm/0H4Jb

Invoice Lines of Credit available-no credit checks for small biz owners. Fees 100% tax deductible http://taxeswilltravel.com/Application.htm

Working Capital, Use Your Invoices, No Credit Scores Necessary

For immediate working capital solutions, try Invoices Lines of Credit. Fees are 100% tax deductible. 36 hr funding for corporate invoices, http://Taxeswilltravel.com/Application.htm slightly longer for Government Factoring. Helps to eliminate cash flow concerns, and enables companies to continue to bid on higher and more contracts, before receiving payments from clients

Does the IRS Send a Levy Every Time They Want to Garnish My Wages

An IRS Levy on your wages, salary or other income for personal services, does not have to be served each time you are paid. Once the IRS levies your accounts, or garnishes your wages, the levy is in place, until the debt is paid.

An IRS payment plan, or applying for hardship status, are two ways, to stop wage garnishment and bank levies. Of course there is always BK.

Can the IRS Levy My Social Security Benefits, Because of Unfiled Taxes?

Yes. however, I am not sure how often the IRS uses this Notice

There is a CP 91 Notice, which is used to notify someone that the IRS is going to levy their Social Security Benefits.

The notice states that there is a balance due and is still unpaid. (Even if you didn't file, the IRS will prepare a Substitute Return, and file for you)

The notice goes on to say that the IRS intends to take up to 15% of your Social Security Benefits, and explains what steps the taxpayer needs to take, to prevent the collection actions.

For clarification on Tax Codes, visit irs.gov

My friend said I could be charged with fraud, because I haven't filed my taxes in 3 years, is this true?

I had to look this one up, to be sure I got the wording correct.

Yes, not only can you be charged with fraud, you can go to prison for not filing an income tax return, when required to do so.

The fraud can be either a civil or a criminal charge.

Civil fraud results in a penalty of 75% of the taxes owed.

Tax evasion, on the other hand, is considered a felony with a maximum prison sentence of five years and a maximum fine of $100K.

Filing a false return, can be considered a felony as well.

If you need to file past due returns, or file a 1040X, we can help you.

How Does the IRS Know That I Didn't File My Tax Return?

The IRS uses a computerized, cross check system, to match W-2s, 1099s and other financial institution’s reports, to determine if taxpayers have submitted a return, which matches the information turned into them.

First you must understand, that Employers turn this information into the IRS, so that their expenses can be documented. An employer can claim the wages of employees, as a business expense.

True, the “IRS Computer” is very busy, however, sooner or later, it will figure out that there is no return, on file, for a particular W2 or 1099.

That’s when the letters start going out. The IRS calls them “Notices”

You will get a series of these letters over a period of time. The time frame varies, based upon, how much the IRS calculates that you owe.

It is best to respond ASAP, because the penalties and interest accrues daily. You could end up owing more in penalties and interest, than your original tax bill!

New Laws for Tax Preparers On the Drawing Table

Registration -

All tax return preparers will be required to register with the IRS and pay a registration fee, before being able to sign a federal tax return as a paid tax professional.

Target date for online registration systems is September 1, 2010.

A PTIN will also be necessary for all registered tax preparers.

Competency Testing -

Tax preparers who are NOT, Attorneys, CPAs or Enrolled Agents, will be required to take and past a competency test.

The target date for the competency test to be available is May 1, 2011. There will be two levels of competency testing.

Level 1. Will deal with wage and non business Form 1040 Series, including, Schedule A, and Schedule D

Level 2. Will include testing for wage and small business forms, including Schedule C, F and Schedule SE.

Continuing Education -

Tax preparers who are NOT Enrolled Agents, CPAs, or Attorneies, will be required to complete 15 hours of continuing education, each year.

* Federal tax law updates (3 hours)
* Tax ethics - 2 hours
* Other federal tax law topics - 10 hours

American Taxpayers Get It. Give and You Shall Receive, These Deductions are Available When Filing Your Past Due Returns

The IRS released information about filing statistics for 2007

Over 4.5 million returns were filed in 2007, which included an adjusted gross income of $200,000 or more.

This same report said that individual taxpayers, who itemized, reported $59 billion in deductions for noncash charitable contributions.

This means, American taxpayers are mainstream when it comes to charitable contributions. US taxpayers get it! Give and you shall receive.

It will be interesting to see the statistics for 2008 through 2009. However, we will have to wait for the IRS to release these figures.

IRS Nationwide Tax Forum, Dates, Location, 2010

The IRS has released the details on this year's nationwide tax forum.

This is a must attend for new tax professionals and individuals interested in becoming a tax professional. There are 3 days (mid-week) full of seminars and educational workshops.

The most helpful benefit, is the up to date information on new tax issues and laws.

If you sign up early there is a deep discount. Learn more by clicking the link above. You can choose from the different locations below.


2010 Registration Fees, Dates and Locations:

The cost of enrollment for those who pre-register is $206 per person, a savings of $129 off the late or on-site registration price of $335. Pre-registration ends two weeks prior to the start of each forum.

Location
Forum Dates
Pre-Registration Deadline


Atlanta June 22-24
June 8



Chicago July 13-15
June 29



Orlando , Fla July 27-29
July 13



New York August 10-12
July 27



Las Vegas August 24-26
August 10


San Diego August 31 – September 2
August 17

New Tax Law, Provides Tax Free Employer Health Coverage for Children Under Age 27

WASHINGTON — Because of the new, Affordable Care Act, health care provided for an employee's child, under 27, is tax-free (in most cases) to the employee. Effective March 30, 2010.

For detailed information, you can visit: http://www.irs.gov/newsroom/article/0,,id=222193,00.html and read the IRS press release

The DOJ Has Indicted 56 Tax Preparers, With 25 Convictions , Since January 1, 2010

The IRS has visited more than 5,000 tax preparers this year since January 1, 2010, in an effort to ensure that competent and ethical tax professionals are available for taxpayers.

Of these 5,000 visits, the IRS has worked with the Department of Justice to bring about 56 Indictments and 25 Convictions, since January 1, 2010 (IR-2010-44, April 7, 2010)

In California, tax professionals MUST renew their registration every year, including a Bond. Yes, Tax professionals, even from the State of California, may be at a lost for a standard why of doing things. Example: While some tax schools require tax preparers to include the 1099-MISC with the tax return, others do not.

Another such example is, some tax schools require the tax preparer to include details for large line items, other schools do not.

Because the IRS has not had a particular standard, I can image they have received tax returns prepared in a number of different ways.

The IRS is planning to do more to protect the taxpayer. Tax preparers in all states will be notified of these changes in the coming future.

The IRS has over $1 billion in unclaimed tax refunds - Must file by April 15, 2010

The IRS has over $1.3 billion in unclaimed tax refunds.

In order to claim your refund from unfiled tax returns, in the last 3 years, you will
need to file your unfiled tax return(s) by April 15, 2010. The IRS provides a 3 year window of opportunity, where a taxpayer may receive a "live" check from the IRS, for any refunds due them, from past due tax returns.

To claim the refund, a taxpayer must file a tax return for 2006 by April 15,
2010.

Finding Help for to Prepare and File Past Due Returns

Regardless if you are seeking help to file past due tax returns, or to file current year taxes online, you can find affordable help online.

The IRS's Three Year Window for Tax Refunds on Unfiled Taxes

Taxpayers have only until April 15 to file past due tax returns and qualify for an actual refund.

Past due tax returns are best filed ASAP. However, when you fail to file within the three year window, from the date the return was actually due, you can loose the actual refund check.

The IRS, usually will contact a taxpayer, in the form of a letter, when report income, suggest that the taxpayer may owe the IRS. If you have not filed your tax returns, and you have not heard from the IRS, that may be an indication that you may have a refund coming.

For help with past due tax returns, click on the title.

IRS Redesigning Notices Sent to Taxpayers

In an effort to communicate more effectively with taxpayers, the IRS has redesigning notices.

The newly formatted notices includes every day English and states what action the taxpayer should take.

The design is said to include a clear, simple and clean design.
Hopefully the new design will reduce the enormous amount of fear that many taxpayers experienced when opening the old notices.

You know, there is more to this “hope” stuff than I realized, cause “faith” surely, didn’t get the notices redesigned, or did it?

If you need help with past due returns, click on the link above.

Report from the National Taxpayer Advocate, Says the Only 64% of Taxpayers, Get Through to the IRS When Calling

National Taxpayer Advocate, Nina E. Olson in her annual report to Congress, released the following information:

"According to Olson's report, the IRS only plans to answer 71 percent of the calls it gets this year. That's barely above the 69 percent level in 1998 when Congress got so fed up with complaints about taxpayer service that it reformed the agency. And the numbers have gone down in recent years – during the 2009 tax filing season, only 64 percent of callers got through."

Tax professionals have understood this issue for a long time, but not because we experienced the problem. The IRS provides a special number for tax professionals and has, in my experienced, been more that helpful and prompt in answer Tax professionals calls.

We know that it has been a problem, because, this is the reason, often times, that we get new clients.

When a taxpayer receives a letter from the IRS, the first thing many people do, is take a moment to contact the IRS. It is because the moment, turns into many moments, people get upset, and start looking for someone to help them.

If you receive communications from the IRS pertaining, to past due tax returns, you can seek out a local tax professional or even an online tax service, to help you resolve the issue as quickly as possible.

Past Due Tax Returns, Current Year Tax Returns, Extensions Filed, IRS Payment Plans, Online Tax Service

Regardless, if you need to file your current year taxes or past due tax returns from 10 years back. Taxes Will Travel.com now offers, secure, online tax preparation.
services.

In mid 2008, the mobile tax service began providing services, to taxpayers who had not filed past due returns and didn't have a clue as to where their W2s or 1099s were.

After ironing out security and fraud alert procedures, the small tax service has continued to grow.

Because there is very little overhead, such as expensive office space and employees, the rates have remained extremely affordable. Taxpayers from all over the world visit the site daily to learn more about past due taxes and the options available, for dealing with the IRS.