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Can I get my tax refund if I owe back taxes?

  • October 10th, 2019
  • David Greene
  • Comments Off on Can I get my tax refund if I owe back taxes?

Unfortunately, the IRS will take any refund to which you are otherwise entitled until your delinquent tax is paid in full.  Until your tax is paid in full, I suggest that you revisit your W-4 form and possibly adjust it…

What is the responsibility of non-owners for the Trust Fund penalty?

  • October 9th, 2019
  • David Greene
  • Comments Off on What is the responsibility of non-owners for the Trust Fund penalty?

The IRS can pursue any employee of a company if they determine that the person is a “Responsible Party” for the Trust Fund penalty. The trust fund portion of the payroll taxes is all of the federal taxes that are…

How to generate proof of expenses in an audit.

  • October 2nd, 2019
  • David Greene
  • Comments Off on How to generate proof of expenses in an audit.

As you know the IRS will not accept your word for expenses.  They want to see backup documents and proof of payment.  If you did not keep receipts, you can order old bank statements from your bank and then go…

I owed more than $3,000 additional tax on my return this year and didn’t have the money to pay. How can I prevent that from happening next year?

  • September 25th, 2019
  • David Greene
  • Comments Off on I owed more than $3,000 additional tax on my return this year and didn’t have the money to pay. How can I prevent that from happening next year?

This is a good question, but I wish you had asked that question closer to April 15.  If you owe more than $1,000 in additional tax on April 15, then, according to the IRS rules, you must make Estimated Tax…

When does an incorrect tax return become criminal, Part 2?

  • September 20th, 2019
  • David Greene
  • Comments Off on When does an incorrect tax return become criminal, Part 2?

Last week I stated that that only fruadulent acts lead to criminal trouble and I listed five things that can cause real trouble. This week I will add four more things you do notwant to do that, if done, can lead…

When does an incorrect tax return become criminal?

  • September 10th, 2019
  • David Greene
  • Comments Off on When does an incorrect tax return become criminal?

If you make a mistake on your return, that is not criminal.  However, filing a wilfully fraudulent return iscriminal and can land you in jail.  Here are some things you do not want to do that, if done, can lead to…

Hints to help new businesses stay out of tax trouble.

  • September 4th, 2019
  • David Greene
  • Comments Off on Hints to help new businesses stay out of tax trouble.

There are many hints or suggestions I can give a new businessman, but I do not have that much room.  I will give you five very important hints to keep you straight with the IRS.  First, form your business as…

Can the IRS seize property in a non-liable taxpayer’s name?

  • August 15th, 2019
  • David Greene
  • Comments Off on Can the IRS seize property in a non-liable taxpayer’s name?

Yes they can for two reasons.  First the Statute of Frauds states that when one transfers property after he has notice of a potential lawsuit or debt, the Court can reverse the transfer as being done to avoid the debt. …

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