Is a mistake on a tax return criminal?
- June 8th, 2022
- David Greene
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If you make a mistake on your tax return, that is not criminal. However, filing a wilfully fraudulent return is criminal and can land you in jail. Here are some things you do not want to do that, if done,…
What is the “Effective Tax Administration” doctrine?
- May 13th, 2022
- David Greene
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There are three methods under which an Offer In Compromise is considered. The first two are Doubt as to Collectability and Doubt as to Liability. The third (and newest) method under which you can submit an Offer is Effective Tax…
Can criminal charges result from the Trust Fund Penalty?
- April 29th, 2022
- David Greene
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A business owner who has not paid the payroll taxes of his employees will have the trust fund penalty assessed against him. Most trust fund cases are not criminal because the IRS recognizes that the employer failed to pay the…
What to do if you owe on your return but cannot pay.
- April 13th, 2022
- David Greene
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First let me remind everyone that Tax Day is getting very close. The deadline to file is April 18 this year due to a Washington, DC holiday. Also, let me make it clear that you always need to file your…
How likely is it for an S-Corporatoin to be audited?
- April 6th, 2022
- David Greene
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It is true that an S-corp or partnership is less likely to be audited than a sole proprietorship. However, the IRS is increasing pass-through entity audits as their computers become more powerefu. Also, several years ago the IRS was directed…
What are acceptable proofs of filing a tax return?
- February 16th, 2022
- David Greene
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There are five ways to file that the IRS recognizes as providing proof of time of filing. 1. USPS Registered mail – You must keep your receipt to prove time of mailing. 2. USPS Certified mail – You must keep…
HAPPY NEW YEAR
- January 6th, 2022
- David Greene
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I hope all of my readers had a very nice Christmas holiday and I hope you are looking forward to a New Year filled with hope and promise. Of course, the way to make those hopes and resolutions come true…
A recent question was: How many different ways can the IRS try to collect taxes I owe?
- December 30th, 2021
- David Greene
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First, let me say that I hope all my readers had a wonderful Christmas. Two weeks ago I mentioned several collection methods. This week I will discuss seizure of property in more detail. If the taxpayer still does not pay…
Can one who owns a business in name only be responsible for delinquent taxes of the business?
- December 1st, 2021
- David Greene
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I had a recent client who set up a business in his son’s name. He is now going to close it. It owes over $50,000 in unpaid payroll taxes and has no assets. He wanted to know if his son…
Headed for divorce? Here are some tax tips.
- November 17th, 2021
- David Greene
- Comments Off on Headed for divorce? Here are some tax tips.
There are several things I recommend you do if you think you might find yourself going through a divorce, both for future tax audit sake and to make sure all assets are revealed. First, copy all of your financial records…