In the largest criminal tax case ever filed, KMPG has copped a plea to using fraudulent tax shelters to bilk the government out of 2.5 billion dollars. KMPG has agreed to pay a fine of $456 million dollars, but nine of its executives still are under indictment.Son of Boss Tax SheltersFrom 1996 to 2003, KMPG promoted a tax strategy known as the Son of Boss. This shelter was used to create phony tax losses that could be claimed by...more
There are many websites on the Internet today that gives much needed income tax help for those who have no idea of what's going on during tax time. Income tax is a tax paid on income, unfortunately no matter how little it is. It's paid by employees and people who are self-employed and may also be payable if you are not working but you have an income, such as a retirement pension or an occupational pension. Not all types of income...more
It is unfortunate but true, that many people do not even consider consulting a tax attorney until they open their mailboxes one day and there is that dreaded letter from the IRS. A tax attorney is a lawyer that specializes in all areas of taxes. The tax attorney is required to attend law school for one to three more years, after regular law school, to receive their Masters in taxation.The IRS has its own group of experienced tax attorneys, so if there is ever a time when you need to face the IRS for any reason, it is imperative that you have your own tax attorney with you. A tax attorney has all the tools and means necessary to handle any tax matters that come up during any tax disputes or issues.If you have been contacted by the IRS and are looking to retain the services of a tax attorney, there are certain things to keep in mind when looking for the right one.First, you need to choose a tax attorney that has extensive knowledge and experience in all areas of taxation. This means your chosen tax attorney should be up to date on all tax regulations, laws, recent and past tax court cases, recent and past tax rulings, appeal procedures, audit procedures, tax litigation...more
In today's economic hardship the changes seem giant. Just last year a number of tax laws were made to bail us out of dire situations. These are a few new tax laws that you should know about.The first is about new car sales and tax deductions. If you bought a new vehicle, including a car, motorcycle, light truck or motor home, on or after February...more
Tom Brady hate the New York Jets Jerseys,Rex Ryan did not like the New England Patriots,this confrontation before the start of the season playing on the big war of words,and their two real battle until about 4 weeks after.Monday,Brady participated in a Boston radio show, talked about the HBO channels are the fiery television program broadcast on...more
If you have any question regarding Form 1040 or seeking relevant information on this subject than this article will prove to be very helpful for you. In this article, we will highlight some of the most vital aspects of filing federal taxes. 1. Filing Status Filing status basically is the state or status of an individual at the end of the tax year. The following are the status option available to the taxpayers a. Single – Person who has not married at the end of the year. b. Married filing jointly – It is for those couples who file their return jointly. c. Married filing separately – In majority of the cases filing taxes jointly is preferred. However in certain situation, filing taxes separately can save you a lot of money due to deductions and similar things. d. Head of Household – Many times head of household is confused with MFS. However, two persons who are married cannot claim the HOH status. 2. Income Tax exemptions are something which every one of us likes. To know what all comes under tax exemptions you need to spend a bit time researching. The form 1040 A and EZ form is less complex and has few blanks and boxes. Hopefully, this article has given you a...more
Every year the number of people paying taxes increase. With this, also increase the number of people who file their taxes late. In case of late payment of taxes ones needs to file for a federal tax extension. For people who are already...more
Have you experienced to be one of those people who needs immediate tax relief help? If you are, then there is nothing to worry. There are numerous solutions outlined for you. In this type of set-up, it is where what you know is...more
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The head of the National Audit Office has criticised HM Revenue & Customs (HMRC) for failing to make enough progress in reducing a backlog of 18.2 million cases where there is potentially overpaid or underpaid income tax.The report on the 2009-2010...more
Former Pittsburgh Steelers coach Bill Cowell thought,Ben Roethlisberger early access to the Super Bowl champion, has continued to stir up trouble puzzling,This year Big Ben for sexual harassment by the police investigation, although exempt from...more