It appears the bankster bailout of last year wasn’t enough to fill the coffers of the to big to fail banks. The Economic Recovery Advisory Board lead by Paul Volcker in an amazing statement actually supports a VAT (value added tax) to help fight the growing colossal debt problem in this country. He also supports [...]
If you work then you have a legal responsibility to pay income taxes on a yearly basis. It is advisable for you to file and pay your taxes when they come due. If you are unable to do this then you will likely be assessed an income tax penalty. You will receive a statement or [...]
If you work then you have a legal responsibility to pay income taxes on a yearly basis. It is advisable for you to file and pay your taxes when they come due. If you are unable to do this then you will likely be assessed an income tax penalty. You will receive a statement or [...]
Under all circumstances when the IRS threatens a levy, you have the right to representation. If you communicate openly with the IRS, levies can be avoided. With cooperation prior to an issued levy, negotiating positions are in good principles.
Bank Levy
A bank levy is a one-time levy. You are free to use your account in a [...]
Our government designed a system long ago that requires each individual and entity of the country to pay its fair share of taxes. These taxes are vital to the ability of the nation to function and grow. Without them, our government would not be able to protect our lands, maintain and improve public systems and [...]
Everyone has heard horrible stories about people getting audited by the IRS and the IRS wasting a lot of their time for tiny mistakes or the IRS forcing the taxpayer to pay much more in taxes than they already paid. Statistics show that only about 1% of tax returns get audited in a given year, [...]
The IRS has outlined tax penalties in the Internal Revenue Code. These IRS penalties are supposed to encourage “voluntary compliance” from taxpayers. The IRS has over one-hundred and forty different federal tax penalties. IRS penalties can be assessed for a wide variety of issues including; tax fraud, accuracy related penalties, late filing penalties, late payment [...]
Tax payers make mistakes all the time; some are fixable but others can be lethal. If you don’t know how the IRS collection process works, you should not attempt to do it yourself. IRS agents will attempt to collect the greatest amount possible, and often have the upper hand when dealing with innocent taxpayers. However, [...]
One always has to be aware that tax avoidance is a legal means of minimizing your tax bill where as tax evasion is illegal and must be avoided. HMRC (Her Majesty’s Revenue & Customs) have increasing powers and this is a very strong deterrent to ensure that one does not become involved in evasion.
There are [...]
It seems a little too old fashioned for a lot of people to write a check, seal it in an envelope, and a stamp, and mail it in the nearby mailbox so there is a new way to pay your taxes without having to do all these out of date procedures. This new way is [...]
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