Scams & Alerts

Burger King is now among the many well-known multinational companies that are accused of legally evading taxes. It’s now common knowledge that for many companies, the 35% corporate tax rate is just a number. Reuters shares the story of how Burger King has been paying less in taxes by using sophisticated means of circumvention. “Some…

When resolving back taxes, individuals should be aware of the IRS’ requirements regarding payment options. Even though each case is unique, there are certain qualifications that every taxpayer must meet. It’s important to apply for a payment plan only after considering all of the applicable eligibility requirements. Back Taxes Resolution: Payment of Penalties and Interest…

Due to technological developments and efforts made by the IRS, taxpayers can now more easily file their tax returns. Along with ease in filing, the IRS has also introduced other applications such as ‘Where’s My Refund?’ where taxpayers can check the expected date when they will receive their tax refund. The Motley Fool shares with…

When the IRS makes you aware of a tax debt and you don’t respond, they will eventually pursue collection efforts. In order to be compliant, you’ll need to resolve the tax debt, which does not necessarily mean paying back the entire amount at once. If your financial situation doesn’t allow for one, full payment, you…

According to a recent USA Today article, “20 big profitable companies paid no taxes”, U.S. corporations are going to great lengths to lower their tax liabilities: “U.S. companies are looking for all sorts of ways to reduce their tax bill. But scores of big U.S. companies just paid no taxes or effective tax rates of…

In seeking relief from a tax debt, a taxpayer may pursue a formal resolution, such as an installment agreement, or a temporary resolution (such as currently not collectible). When deciding on an appropriate solution, a taxpayer must ensure that he or she can meet the requirements and conditions of the agreement. Key factors to look…

Scammers count on volume. They will file as many fraudulent tax returns as they can, sometimes preparing hundreds of fakes. Even though the IRS successfully blocks numerous fraudulent tax returns each year, many get through. There have been reported cases where tax scammers have received huge refunds – sometimes totaling in the millions – by…

It’s extremely important for a taxpayer that owes a back tax debt to understand the methods the IRS uses to collect unpaid taxes.  Various techniques are used as explained below: Back Taxes Relief: IRS Notices If you do not file a tax return and pay taxes that you owe, the IRS files a substitute tax…

There has been much talk about the need to overhaul the tax code to fix loopholes that are exploited to evade taxes, and to make the tax code simpler. Corporate inversions, the new storm to hit the government, came about because of the weaknesses in the tax code. President Obama responded to it during his…

If you have unpaid taxes, before you contact the IRS to resolve your case, you should understand some essential information about how these taxes impact you. Also, you’ll need to understand how the tax debt may affect you in the future, and what type of resolution you should seek. Back Taxes: Penalties and Interest Any…