Hot Legal Topics » Tax Help

Online Tax Help: Making The Best Of It!

Rob — Fri, 08 Jan 2010 14:53:16 +0000

There are several options when it comes to online tax help. You will find tutorials, forms, web chats and filing instructions as well as a variety of software products to actually assist you to fill out your forms easily and get them turned in. The assistance you want is available within a matter of minutes. Online tax help is something that you should take advantage of since it is readily available to you. Today, you could log into any of these helpful tools, ask for help with your taxes and be speaking to a tax professional online in mere seconds. You could get your questions answered and have your taxes file fast and effectively.
You should consider the source when you are looking for online tax help. You want to make sure that you are receiving advice from a reputable provider and that the information is up to date and the most current. Since tax laws change many times during the year, in some situations, you should be careful that the tax help that you are getting is correct. Otherwise, it may result in a very costly error. Also remember that no matter who does your taxes for you, you are solely responsible for them even if there are mistakes in them!
Nevertheless, many of the online tax services available today is going to be good quality help. If you have any questions that you can not find an answer for, you could get a variety of solutions available including question and answer sections of most tax based web sites. If your question is in regards to tax forms, a great place to get all of the forms that you want is all on the IRS web site. There you may choose the correct forms as well as get the instructions for completing them. Many tax help online is also available to you from the IRS.
If you require more tax assistance, such as a professional to do your taxes for you, there are a several options available. You may begin by using good tax software that is available right online. Fill out the forms, answer the questions and they will assist you to file accurate returns. You can find these online or through programs you can buy as well, just be sure that they are 100 percent updated. Or, you may find real tax professionals working online that will help you. You can locate them and work with them online to get your taxes done. All of these solutions are options that are now available to you. Online tax help is readily available, assuming that you know what kind of help you need.

Andrew Chin is a recognized authority on the subject of Online Tax. His website Taxes Exposed provides a wealth of information on Online Tax Help. Articles may be reprinted as long as the content and links remains intact and unchanged.
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Popular Causes Of Irs Tax Debts

Rob — Sat, 29 Aug 2009 15:23:15 +0000

Failure to FileOne of the most common mistakes a taxpayer can make is failing to file a tax return. If you live and earn income in the United States above a minimum threshold amount during a particular year, you are required to pay taxes and report that income by filing a federal tax return. Many taxpayers are either uninformed or wrongly informed that they do not have tax filing obligations. Failing to file can lead to penalties and interest being assessed against you. Additionally the more delinquent tax returns you have, the more your tax liability, penalties and interest will be.Even if you do not have a tax filing requirement for a given tax year, it may still be in your best interest to file a tax return because you may have had taxes withheld or might qualify for tax credits, which could result in a refund to you.If you are required to file, but fail to do so, the IRS can file a substitute for return on your behalf. A substitute for return is a return prepared by the IRS based on any information that may have for you (W-2s, 1099s, etc.). It is prepared using a filing status of “single” with a household of 1, which ignores any eligible deductions, credits, and exemptions that you may be able to claim. The substitute for return will then calculate how much is owed and the IRS will attempt to collect that amount from you.Under WithholdingEmployers typically withhold taxes from their employees’ paychecks. If enough taxes are not withheld from an employee throughout the year, the employee will likely owe the IRS when they file their tax return during tax season. This tax shortfall is called under withholding. It is caused by an employee claiming excessive exemptions on their IRS Form W-4—completed at the time of hiring—which results in not having enough income tax withheld throughout the year.If you owe taxes when you file your tax return, you should meet with a tax attorney, CPA, or professional tax preparer to have him or her help you determine the correct number of exemptions you should be claiming. Alternatively, the IRS has a useful withholding calculator on their website that can point you in the right direction.Even if you had a refund on your taxes, a consultation with a tax attorney, CPA, or professional tax preparer may be a good idea. He or she may find that you are currently over withholding, meaning that you are having more taxes taken out of your wages every pay period than is necessary to cover your tax bill. This may not seem like a bad thing since you are getting a refund when you file your tax return. However, if you were to reduce your withholdings, you could still cover your tax obligations and also keep more of your income throughout the year.Estimated Tax PaymentsAnother common form of owing the IRS is often made by business owners or self-employed individuals. These taxpayers are responsible for paying their own taxes on a monthly or quarterly basis depending on their income and estimated tax payments. Since they are self-employed, they do not have an employer to withhold taxes from their paycheck. If they fail to make their estimated tax payments throughout the year, they will likely incur a large tax liability at the end of the year. Many self-employed taxpayers are not aware of their reporting and payment obligations until it is too late. When starting a business, it is vital that you research and be aware of the relevant tax laws.Other Causes of Tax DebtsSome other reasons people may owe the IRS relates to what is going on in their personal lives. For example, a taxpayer may have a family crisis or an emergency that occurs around tax season that prevents the taxpayer from filing a tax return on time or prevents the taxpayer from paying his or her tax bill in full. In this situation, the IRS will issue the taxpayer a bill for the amount still owing. Other taxpayers may simply misunderstand the tax laws and take exemptions, deductions, and credits that they are not qualified to claim. In this situation, the IRS will usually contact the taxpayer and inform the taxpayer of the reporting error. The taxpayer’s is then required to substantiate the exemption, deduction, or credit taken. Without substantiation, the IRS will correct the taxpayer’s tax return and the taxpayer may incur a tax liability, penalty, and/or interest.

The Tax Lady Roni Deutch and her law firm Roni Lynn Deutch, A Professional Tax Corporation have been helping taxpayers across the nation find IRS tax relief for over seventeen years. The firm has experienced IRS tax attorneys who will fight the IRS on your behalf.
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What is Irs Tax Fraud?

Rob — Sat, 18 Jul 2009 14:29:56 +0000

According to IRS, every American citizen is responsible for filing their own tax return when required to do so through a duty known as voluntary compliance. Fortunately the majority of Americans comply by determining and paying the correct amount of taxes to the government. However, there are many that willfully and intentionally violate their legal duty of voluntary compliance by failing to pay the correct amount of income, employment, or excise taxes.

Although some Americans live in fear of the IRS because they owe back taxes to the IRS, there is a big difference between owing a few hundred dollars because of mistakes on your previous tax return and committing tax fraud. In committing tax fraud you deliberately break the tax law by providing incorrect information on your tax returns for the purpose of some type of gain. Activities the IRS determines as breaking the tax laws include but are not limited to:

* deliberately underreporting income

* deliberately omitting income

* keeping two sets of books

* overstating the amount of deductions

* making false entries in books and records

* claiming personal expenses as business expenses

* hiding assets or income

* claiming false deductions

* transferring assets or income

In order to combat tax abuses the IRS created the Criminal Investigation Division that strives to correct the issues of improper tax filing and payment. The Criminal Investigation Division of the IRS investigates a wide array of individuals and industries including business owners and self-employed wage earners. It is the main component of the IRS’s efforts to directly influence taxpayer compliance.

The Tax Fraud Program is the Criminal Investigation Division’s largest enforcement program that covers a variety of tax fraud and tax and money laundering crimes. According to IRS statistics there were 1,863 investigations initiated by the Tax Fraud Program in 2006, leading to nearly 700 people being sentenced and incarcerated for breaking the tax law.

The Tax Fraud Program classifies tax fraud crimes into two basic programs, legal source tax crimes and illegal source financial crimes. Legal source tax crimes involve people who earn wages legally but choose to evade taxes by violation of tax laws. These cases involve behaviors that threaten the tax system, such as questionable claimed refunds, unscrupulous tax return preparers, and persons who challenge the legality of income taxes. The prosecution of these cases is essential in supporting the IRS’s overall compliance goals, encouraging voluntary compliance with the tax laws, and promoting fairness and equity in the American tax system.

The second program, illegal source financial crimes, focuses on money gained through illegal sources of income, such as illegal gambling. According to the IRS, these underground operations threaten our “voluntary tax compliance system and undermine the overall public confidence in our tax system.” The IRS demands that taxes be paid on money earned through any means, therefore many recipients of illegal income attempt to legitimize their income. This process of “cleaning” the illegally obtained money is known as “money laundering.” The IRS deems money laundering as “tax evasion in progress.”

Nowadays, money launderers use various schemes and transactions to conceal income and assets. This includes manipulation of currency reporting requirements and the layering of transactions. Since money laundering and currency violations are often intertwined with tax violations, the illegal source financial crimes program encompasses many tax and tax related violations.

The punishments and penalties for tax fraud issues vary from cases to case. However, according to the US tax code (sections 18 and 26) some violations of tax law carry penalties of up to five years in prison with fines up to $250,000.00 for individuals and $500,000.00 for corporations. According to IRS statistics, the average incarceration sentence for tax fraud crimes in 2006 was 26 months.

The important thing to remember is to be completely honest when preparing your income tax returns. Alternatively, you should seek a competent professional to prepare your returns for you. If you follow your legal duty of voluntary compliance and pay your taxes without hiding income then there is never a reason to worry.

Tax Lady Roni Deutch and her law firm Roni Lynn Deutch, A Professional Tax Corporation have been helping taxpayers across the nation settle their IRS back taxes for over seventeen years.
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