2015 IRS tax filing deadlines for Foreign Income and Expats

2015 IRS tax filing deadlines for Foreign Income and Expats

A spoonful of sugar helps the IRS deadlines go down, the IRS deadlines go down…wait. What’s the sugar in this analogy? Fear of non-compliance? Hmmm. Still not buying it. Maybe I should have picked a song from Slayer’s catalog for this post, as opposed to Mary Poppins.

Important 2014 IRS 1040 Expat and foreign income changes

Important 2014 IRS 1040 Expat and foreign income changes



What is the deal with ObamaCare Penalties and US Expats? Let our friend Vlad explain it for you.

How to Deal With IRS Payroll Tax Problems

You run a business. Your sales have decreased, profits were down and cash flow has turned negative. You're in short of cash to pay your bills/vendors and your payroll tax deposit is due this week as well. There will be a temptation for you to hold paying for 941 employment taxes and pay your employees only their net pay. You want to use that tax money to pay most of your bills. Since the IRS looks far away from your world of business, so why not forget about them? You can always catch up paying the past dues sometime later like once after your cash flow gets better right? Wrong.

It's a completely different case, if your bookkeeper decides to embezzle your payroll tax deposit but your main problem is with the cash flow. The gross sales went down all of a sudden or the payments from the clients were not showing up on time. And then once you did get money, you are prepared to pay the IRS as much as and as far as possible. You think that this approach can solve your problem as well as keep Uncle Sam happy.

But then you learn that the IRS wants you to pay the entire payroll tax dues; they never like receiving just a portion of it. And since the late payment penalties are going to be huge with payroll tax deposits, you're now pushed into a world of never-ending tax problem. But can you come out of it? What is the solution to deal with the IRS payroll tax problems where you don't have to contend with the devil?

This is what you need to know. When you have a viable business that is experiencing problems with cash flow, the IRS has got a vested interest in keeping that business afloat! They want to see you be successful again on your business so they can collect unpaid payroll taxes as much and as quickly as they possibly can. The IRS may even encourage you to borrow on credit cards or take a loan to pay back the tax owed while putting levies on your business and personal assets at the same time.

What are the available options for you to deal with your payroll tax problems? Offer in Compromise, negotiating an Installment Payment Agreement, Non-Collectible Status and Penalty Abatement are a few solutions that might be available to you. Negotiations might include having your federal tax lien removed if it hinders in getting a loan to pay for your tax obligations. Also you should look for alternatives to stop the assessment of Trust Fund Recovery Penalties.

However, when you are not able to generate revenue and profits even after months of hard work, your business will be considered as not viable. And to top it all off, the Internal Revenue Service will not look kindly on people who aren’t able to pay up their payroll taxes. They just want their taxes no matter how bad your scenario is. The IRS views nonpayment of payroll tax liabilities a critical issue and they won't think twice in shutting down your company and then sell its assets to recover their taxes. And remember, pay-roll taxes cannot be discharged by filing a bankruptcy.

In such situations, a presence of legal professional can create a huge difference in the result of your case. The expert lawyers at IRS Medic have helped thousands of taxpayers with payroll debt problems throughout the country. We will make use of the very best solutions to stop aggressive collection efforts by the taxing entities and ensure the continuation of your business operations. Whether you are “in business” or “out of business” we can help you to put your payroll tax issues behind you!

2014 tax return changes

2014 tax return changes

Some of the ugliest tax return changes for 2014

2015 IRS tax filing deadlines

2015 IRS tax filing deadlines



This is the domestic schedule that you have been looking forward to seeing. Or perhaps not. 

International Tax Planning Strategies

International Tax Planning Strategies



Robert Hanson and I discuss why it is that Google and Apple can minimize US taxes via such devices as the "Dutch Sandwich," but why you can not. And then we get into some domestic and international tax planning strategies that do work for the individual and small and medium sized businesses.

IRS Post-Appeals Mediation

IRS Post-Appeals Mediation

If IRS Appeals "does not seek to take sides in a dispute" but rather offers "an objective point of view on each individual case," then should that not foreclose the necessity of Post-Appeals Mediation? What possible value could a Post-Appeal Mediation program could add if IRS Appeals was able to perform its core mission properly?

2015 Tax Law Changes Round-up

2015 Tax Law Changes Round-up

The hidden suffering caused by an IRS tax problem

The hidden suffering caused by an IRS tax problem

The Stress-Related Mental Health Issues caused by an IRS tax problem can end!

Many
of the people we work with well their IRS tax problems may exacerbate
or create issues such as depression, anxiety, alcoholism, and gambling
problems. In very rare instances, these issues can rise to such a level
that someone takes their own life. This is true. If someone in your life has an IRS tax problem go find them, tell them that you will help them and then give them a big old bear hug. Do not be surprised if they cry no matter how stoic they normally are.

If you are the one with an IRS tax problem

If
you the one are suffering from an IRS tax problem, and you can’t quite
break the news to someone important in your life. Then simply share this
blog article with your family  and close friends.  Let them know that
what we are saying is 100% correct, and let them know you need to have
them on your side.

Latin America FATCA update

Latin America FATCA update

FATCA: providing ugly acronyms for your reading displeasure

FATCA, itself an acronym, 
provides fertile grounds for many additional acronyms — for a world
apparently starved of esoteric lingo.  One important FATCA-related
acronym is FFI — which stands for Foreign Financial Institution.

Yes, one could get bothered by the ego-centrism of the US tax code, i.e., a Costa Rican bank in San Jose is not actually foreign
to itself, but there is so much to dislike about the over-regulation of
the worldwide economy via FATCA, that one should really keep their
powder dry for other outrages. ¿no es correcta