Do you owe Uncle Sam taxes for 2016, prior years, or a combination of both? Well, under some conditions the IRS may let you settle your debts for less than you owe. Nice! This is made possible thanks to the IRS’s “offer in compromise” program. Want to learn more about how to get Uncle Sam to show you some mercy? Easy! Read my new article titled Tax Tips: Yes, You Can … [Read more...]
Tax Policy
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You have a friend at the IRS (really!)
Do you have an IRS problem that can’t seem to be resolved through normal channels? Then you should know about the free Taxpayer Advocate Service (TAS). If they take your case, this independent office within the IRS, will work to solve your issue. TAS can even order the IRS to act in your favor! So … before throwing up your hands and sobbing softly, read my new article … [Read more...]
New law erases $100-per-day penalty!
Are you one of those small-business owners who stopped reimbursing (or paying for) your employees individually-purchased health insurance? Did you simply add the cost of that insurance to your employees W-2s? If you did, you were out of compliance with the Affordable Care Act and were subject to a $100-per-day penalty of up to $36,500 per-employee, per-year. Well, here’s … [Read more...]
How to avoid fraudulent tax strategies
There are a lot of folks out there peddling tax strategies that promise to help you avoid paying federal income taxes. If you are considering adopting one of these strategies, here’s my advice: Turn around Run as fast as you can You see, if you do what the fraudsters suggest, you could wind up paying massive penalties or even face jail time. Want to learn how to … [Read more...]
Hard facts expatriates have to face
Thinking about leaving the U.S. and becoming a resident of another country? Or renouncing your U.S. citizenship? Or giving up your long-term residency and expatriating? You can take these steps if you want to but be aware that they’ll have serious tax consequences you need to know about. My advice? Before you pack your bags and wave goodbye to Uncle Sam, take a minute and … [Read more...]