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
Tax Blog
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
What to Know About Receiving an IRS Notice
If you have received a notice from the IRS the first and most important thing is to not panic. Most notices are minor and should not be of long-lasting concern and many do not even require any action on your part. Here is some information that will help guide you through the process and put your mind at ease. First, read the ... Read More
How to Spot a Tax Scam and What to Do Next
In a perfect world we could be rest assured that any person, company, or offer we came across was legitimate. Unfortunately, since this is not the reality of the world in which we live, consumers across the nation must always be on the lookout for scams perpetrated by con artists. Criminals looking to make a quick buck have been ... 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
Why the State Corporate Income Tax Should be Eliminated
Ronald Reagan once proposed eliminating the federal corporate income tax. That was in 1983 and the same issue has been brought back to the table; however it doesn’t seem like too many people are taking notice. What is the Deal With the Corporate Tax? Under the current tax regulations, corporate earnings are being taxed twice. ... Read More
How the FTC Wants To Tax and Subsidize Journalism
Journalism is not what it used to be and the Federal Trade Commission is exploring ways to reinvent the craft. The FTC proposed that the US government should be the hub of a media overhaul but some are worried it is not the right course of action. Concern now is that the Internet has changed the way things are being done. The ... 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
