Scams & Alerts

Taxpayers devise new methods to evade taxes. Both individual taxpayers and corporations sometimes legally evade taxes using the loopholes in the tax code and sometimes evade taxes illegally by breaking the law. Tax inversion is one way corporations are legally avoiding paying taxes to the government. SF Gate elaborates how tax inversion works and why…

There are various factors that impact the amount you need to pay in tax debt, including the timeframe the debt goes unpaid. Many times, taxpayers have to pay more in tax debt because they delayed payment. As both penalties and interest are charged each month, they can substantially increase the original amount of the debt….

Tax scammers keep looking for new ways to dupe taxpayers. When the Supreme Court struck down the Defense of Marriage Act, followed by the IRS’ announcement that same-sex couples that are legally married can now file their federal income tax returns jointly as a married couple, it gave rise to a new form of tax…

Many times taxpayers complicate their tax debt case either by choosing an incompetent or a fraudulent tax service, or by selecting an inappropriate payment plan. These two factors can impact back tax resolution heavily. Other factors such as penalties and interest should also be considered when determining the right resolution. Back Taxes Resolution: Choosing a…

Tax scams do not happen only during the tax season, they happen all year round, which means that you need to be careful of scammers at all times. Even though tax scams are broadly categorized as identity theft or phone scams, the scammers keep using different methods to get taxpayers to share their information or…

The IRS is all geared to implement their new policy regarding the Individual Tax Identification Number (ITIN), but not before 2016. The IRS wants to give enough time to taxpayers and themselves. According to the new IRS policy regarding ITIN that became effective from January 1, 2013, ITINs that are not utilized on tax returns…

Negotiations with the IRS for debt resolution are conducted when you cannot pay the full tax debt amount and seek a resolution through a payment plan. The IRS always looks to collect as much of a tax debt as possible, but taxpayers can negotiate the conditions of an agreement with the IRS to achieve a…

It is common knowledge that multinational companies that have resources legally evade taxes through tax loopholes.  It is well known that Apple Inc. does everything it can to avoid the United States’ high corporate tax rate. Whether evasion of taxes because of the high corporate tax rate can be justified is debatable, but understanding how…

Many taxpayers are not eligible to qualify for tax debt reduction plans such as Offer in Compromise or Partial Payment Installment Agreement. Reduction in tax debt can only be achieved if the applicant taxpayer does not have the financial capability to pay the full tax debt. However, even taxpayers that have the financial capability to…

The IRS has modified the Offshore Voluntary Disclosure Program (OVDP), along with some of the features of the Foreign Account Tax Compliance Act (FATCA) for Americans living overseas. Due to the strict implementation of FATCA, taxpayers who have undisclosed assets and income in overseas banks accounts can use OVDP to gain back compliance, and face…