It is a common misconception that when it comes to the IRS, you have little or no rights concerning tax issues. With thousands of tax codes to contend with, it is not unusual for taxpayers to feel overwhelmed and intimidated by the entire tax process. While it is true that the IRS is a powerful and sometimes unforgiving ... Read More
Hold Up! 4 More Rappers Added to Our Back Tax List
After our last post on infamous rappers known for more than one thing (to us - rapping; to the IRS - owing back taxes), we’ve discovered four more artists with recent tax issues. If Method Man, Swizz Beatz and Fat Joe didn’t satisfy your oh-so-unfortunate-rappers-who-owe-money-to-the-IRS fix, then maybe these guys will. Lil ... Read More
Healthcare Bill Disaster: Send 1099s to Everyone
The IRS 1099-Misc form has always been used to track payments made from one company to either an individual or another company that are not salary-based. If you hire someone to design a website, it's a one time payment. If that payment is more than $600, then you issue that person a 1099-Misc form, and send one to the IRS, so ... Read More
3 Rap Artists Who Can’t Seem to Wrap Up Back Tax Issues
Private jets, luxury suites, and the finest bottles of champagne - ‘necessities’ popular among America’s most loved and admired rappers may soon have to take on a lower priority. Why? The rappers have got to focus on paying off something a little more important first - their back taxes. With Method Man’s latest tax evasion ... Read More
Having Trouble Paying Your Installment Agreement with the IRS?
So, you've entered into an installment agreement with the IRS and now realize that you are unable to pay, what do you do? First off, don't panic or become discouraged- the economy is extremely volatile and tough economic situations are understandable- even to the IRS. Take a moment to consider your situation, and how you arrived ... Read More
Teresa Not the Only Housewife with Real Money Issues
As headlines regarding New Jersey Housewife Teresa Giudice's $11 million liability and bankruptcy filing surface newspapers, magazines, and blogs alike, America is beginning to realize that financial hardship can face anyone- regardless of social status. And, while the focus seems to lie solely on Teresa's "breaking news," turns ... Read More
Filing Back Tax: A Five Step Process to Late Filing
So, you’re late on filing your back taxes and aren’t sure of how to handle it. Well, you have one of three options: file now, file later, or file never. Our advice? You guessed it, file now. Filing late back taxes as soon as possible is imperative, not only because you’re already late, but because the longer you wait, the ... Read More
What Happens After I File My Tax Return?
So, you have filed your tax return – good for you! While this is something that you need to do every year in a timely manner, just because you have filed your return does not mean that you can forget about taxes for the next 12 months. Instead, concentrate on what you need to know about what happens after you file your return. ... Read More
Tax Credits to Keep in Mind for 2010 Taxes
While it may be too late to take advantage of tax credits for 2009, now is the best time to look forward to next year. If you know which tax credits are available for 2010, there is a much better chance that you will find a way to benefit from them. Here is a list of tax credits to keep in mind for 2010: Child Care Credit. ... Read More
Macy Gray Owes Over $50K in Back Taxes
Macy Gray is the latest celebrity with tax problems. Macy owes the California Tax Franchise Board more than $50,000 in unpaid taxes, according to The Detroit News. Macy Gray is an American R&B soul singer who is known for her distinctively raspy voice. Some of her better-known hits are "I Try" and "Beauty in the ... Read More
Mekhi Phifer and LeVar Burton Square Off with the Tax Man
It seems as if there's a new celebrity running into tax problems with the IRS or state revenue collectors almost every day. Here are two recent notable celebrities who owe state back taxes, according to The Detroit News. Mekhi Phifer, is best known for his role in the movie 8 Mile as Eminem's best friend. He has also appeared ... Read More
Philadelphia Tax Amnesty Ends June 25th – Act Now!
Philadelphia, PA - The city of Philadelphia is offering a tax amnesty for property owners, residents, workers, and businesses who currently owe back taxes. This is the first time the city of Philadelphia has offered a tax amnesty. Right now the city of Philadelphia has about $1 billion in back taxes and tax amnesty programs in ... Read More
