Posts Tagged ‘Beating The Tax Man’
Form of Doing Business
Sunday, April 5th, 2009
business structures 101
What exactly is an LLP? What’s the difference between an LLC and a corporation? What about S-corps and C-corps? Sorting through the legal jargon and tax codes defining these business structures can be daunting for entrepreneurs – but picking the right [...]
Taxation LLC
Sunday, April 5th, 2009
TAXATION OF LLC’S
Limited Liability Companies: An Interesting Tax-Reporting Entity
A state-registered limited liability company (LLC) can be taxed as a partnership for federal income tax purposes. However, its members, like corporate shareholders, are not personally liable for the entity’s [...]
Non-Filing and Tax Crimes
Sunday, April 5th, 2009
Non-filing and Tax Crimes
Very few people are put in jail for not filing a tax return, but it can happen. A willful failure to file a tax return is a misdemeanor if you owe taxes. You can be sentenced for up to a year in [...]
Criminal Investigations
Sunday, April 5th, 2009
HOW TO AVOID AN IRS CRIMINAL INVESTIGATION
The Criminal Investigation Division (CID) of the IRS is charged with investigating offenses under the revenue laws and related offenses. These include a wide variety of tax and nontax crimes. Most prominent of the crimes [...]
Defend IRS Levies
Sunday, April 5th, 2009
How We Defend Against IRS Levy
Steps should be taken to defend against an IRS levy in three different situations: when you are the taxpayer, when you receive a levy for someone else’s taxes against property you hold and when you are a third party whose property [...]
What IRS Can Seize
Sunday, April 5th, 2009
What Can the IRS Seize?
A non-wage levy seizes the taxpayer’s right, title and interest to all property that is in the possession of the levied party (the person or company holding your property for you) at the time the levy is served. It seizes no more and [...]
Wage Levy Article
Sunday, April 5th, 2009
Getting Wage Levies Released
Wage levies are vicious collection devices used by the IRS to get your attention. A wage garnishment can take up to 85% of your gross pay, leaving you with nowhere to sleep but the street.
In most cases our immediate goal is to [...]
Protect Assets from IRS
Sunday, April 5th, 2009
HOW TO PROTECT ASSETS FROM THE IRS
INTRODUCTION –How to Protect Assets from the IRS
Taxpayers can adopt various strategies to protect their assets from the IRS. In particular, several types of transfers can be used to avoid collection without giving up practical [...]
IRS Collection Process
Sunday, April 5th, 2009
IRS Collection Process
Most taxpayers are lost when asked what stage of the collection process they find themselves in. Here is a short background account of what steps the IRS will take to collect an assessment. First, what is an assessment? An assessment [...]
Wage Garnishments
Sunday, April 5th, 2009
WHY YOU SHOULD AVOID THE IRS GARNISHMENT
I had a client contact me this morning who said she was astonished to find the IRS could take her wages without suing her first. She was the subject of an IRS wage garnishment. The IRS had just grabbed $850 [...]