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When forgiveness of debt will lead to a tax bill

When forgiveness of debt will lead to a tax bill

What are the tax consequences of forgiving debts? Or having your debts forgiven?   Give us this day our daily bread,and forgive us our debts,as we also have forgiven our debtors. Matthew 6:11-12   Now, before you go ahead and forgive all your debtors, you may want to think about the context of what this Gospel verse is trying to say. Is Jesus telling you to really forgive you actual debtors of actual money? Really. People who actually owe you […]

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Unpaid Connecticut sales and use taxes: A bigger threat to your freedom than an IRS bill

Unpaid Connecticut sales and use taxes: A bigger threat to your freedom than an IRS bill

Keep up with the CT Sales and Use Tax for Your Connecticut Business…or else As you may know, if you are a Connecticut business owner, you have many taxing authorities to report to, collect taxes for, and pay on a timely basis. The CT Sales and Use Tax is just one of them, and the reporting requirements can change, depending on the amount of tax liability you have. Excellent planning is required to stay on top of the whole process […]

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Restricted stock tax problems

Restricted stock tax problems

Common income tax problem with restricted stocks.   Not-quite 40 and a millionaire? Chances are, if you didn’t inherit a fortune, you owe a sizable portion of your wealth due to selling restricted stock. In this article, I will talk about some of the tax problems that come about as a result of restricted stock. What is restricted stock? It is company stock which a corporation gives to an employee. The restriction means that the stock cannot be sold until […]

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Tax planning seminar in Panama? Read this article first

Tax planning seminar in Panama? Read this article first

Going to a tax planning seminar in Panama? Read this article first   Why you really really might not want ever speak, or even be in the same room as San Diego Tax Attorney Christopher Rusch In yesterday’s post about Chris Rusch, a self-claimed tax attorney mastermind who will be meeting potential tax clients in Panama shortly, I wrote:   But there is more to the story. According to criminal tax attorney Michael Minns of Houston, Texas : I tend […]

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San Diego Tax Attorney turns on his own clients, celebrates with offshore marketing initiative

Convicted San Diego Tax Attorney turns on his own clients, celebrates with offshore tax marketing initiative   Why it may be a good idea to avoid Tax Attorney Chris Rusch.   This is incredible. I try not to “punch down” and give too much legitimacy to the various tax scam artists our there. But this one is too unbelievable, to bold to allow go unnoticed.  From last May, a story written by Robert Angen at Azcentral:   Christopher Rusch: No […]

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Unfiled tax returns

Unfiled tax returns

How to Get Those Unfiled Tax Returns Out of Your Life   If you have unfiled tax returns that are making you lose sleep, then you realize that unless you deal with them, you are looking at an uncertain future. So if you have past due or unfiled tax returns, the team at IRSMedic.com wants you to know that we stand ready to help you *mixed metaphor alert*  weather the storm and get the best resolution possible!   If you […]

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Is there any law that says you have to pay income tax?

Is there any law that says you have to pay income tax?

Is there any law that says you have to pay income tax?   The internet, YouTube especially, is loaded with people making claims that there is no actual law that requires that individuals pay income taxes. Ex-IRS Agent Sherry Jackson claims she could find nothing in the statutes or regulations that requires individuals to pay taxes, and thus could claim a $50,000 prize. She served 4 years in prison for sticking to her guns.     In this video, while […]

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What is an IRS summons?

What is an IRS summons?

IRS Summons? What Is This? An IRS summons can be understood to be an escalating step taken by the IRS in any investigation they may be making into a case. If it’s your case we’re talking about, then you may have already received, and possibly ignored, the first tool the IRS uses for information gathering: the Information Document Request, Form 4564. Known as an IDR, this form is just what it says—a request—and it packs no legal punch. At this […]

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Tax Debt Relief Companies

Tax Debt Relief Companies

Getting IRS help: How to tell if an IRS tax debt relief company is legitimate. This is a true story:  In 2011, “Steve,”  a taxpayer in New York City, is in serious trouble with the IRS.  He searches the internet for an “IRS tax attorney.” He makes the mistake of believing a tax resolution firm in California are attorneys (because they claim to be).  He gives them $32,000 to solve his tax problem. Two years later, his tax balances have […]

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