Tax Filing: ?Scams That Tax Payers Need to Avoid?
New York, NY
March 26, 2005 -? The Internal Revenue Service (IRS) has released a report on tax scams and Tax-Definition.org (http://www.tax-definition.org) is happy to share them with tax filers to alert them to any potential issues -Tax Tips for E-filers: http://www.tax-definition.org/tax-tipsThere have been many cases of tax scams that have been unveiled by the Internal Revenue Services (IRS) in their annual listings called the "Dirty Dozen". There are various tax agencies and schemes that have been listed for making false claims to the taxpayers.Studies have shown that most of the tax agencies manipulate the tax laws and try to look for the loopholes in them for tax deductions and benefits. Getting involved in tax scams can be avoided if you understand the concepts on which some of the fraud tax agencies work.Most of the credit counseling agencies that claim to help you in fixing your credit ratings should be avoided. They generally aim at charging high fees, or monthly charges that add to your debt. The IRS Tax Exempt and Government Entities Division is making audits on such agencies to avoid the exploitation that takes place due to the debts of low-income customers.
The agencies are tax-exempt, yet they charge high fees for providing credit and debt counseling to their customers.There are many unscrupulous tax agencies that advise the tax filers to move all their assets in a trust. According to them, by putting your assets under a trust you will be able to reduce your taxes, as the income that is subject to tax will become lower. This will show deductions in your personal expenses due to your reduced estate. You will be expected to pay lower gift taxes.However, most of the agencies that make suck promises fail to deliver them. It is important for the taxpayer to hire a qualified professional to help out in matters like entering a trust.
On the other hand, even the IRS is keeping an eye on such agencies.Some of the agencies want their customers to utilize a "claim of right" doctrine. According to this, a taxpayer tries to file a return with an aim to get a deduction that is equivalent to the wages that he/she gets. Such a deduction is placed under is interpreted wrongly and has no basis in law. Therefore, a taxpayer must gather all possible information before falling in the trap of fraud tax agencies. The real clause in the Internal Revenue Code is manipulated by such agencies that propagate tax scams.Filing a return is optional, wages cannot be considered as income, and there are amendments in the tax codes that discriminate against the tax payers are a few of the false arguments that are advertised by the tax agencies.
One should not fall for any of these lousy statements. They have been challenged and thrown out of the courts. More and more of such scams have been unearthed that refute, or manipulate different arguments and codes for tax exemption. A tab on the identity thefts; on the telephone, Internet, and frauds posing as IRS members; is essential.If the IRS catches hold of such con agencies and people involved with them; fine and imprisonment are inevitable. But, even the tax payer should be aware of all the legalities involved in filing their taxes to avoid taking help from outside.
Stay tuned for our second report on what tax payers / electronic filers need to watch out for: http://www.tax-definition.org/Define-File-a-return.htmlYou can also review Tax deinitions here: http://www.tax-definition.org/Define-Form-1040.htmlReprint rights: You are free to use / reprint this article - please just include the below copyright and URL / link to website:(C) 2005 Tax-Definition.orghttp://www.tax-definition.org.
Taxhead.com Proves again that it's Tax Software and EFile Service is Fast and Easy
(ContentDesk) October 31, 2005 -- Based upon actual results, half (49%) of Taxhead.com customers completed their tax return in less than 30 minutes. Three-quarters (76%) of customers were able to complete and efile their taxes in under 60 minutes.Data is based on an analysis of tax year 2004 customers who completed entering their tax information in a single sitting (84% of customers), and whose tax returns were accepted by the IRS on their first attempt (about 90% of customers). For more information please go to - http://www.Taxhead.com?page=speedFor comparison purposes, the IRS reports that the average completion time for tax form 1040 is over 13 hours, and over 10 hours for form 1040A. Online tax preparation together with e-file has proven itself to be a more accurate, less time-consuming method for preparing and filing income tax returns. IRS statistics show that in 2003, over 54 million tax returns were filed electronically (e-File) versus mailed paper forms.
In 2004, for...
Taxhead.com Proves again that it's Tax Software and EFile Service is Fast and Easy
Tax help > Taxhead.com Proves again that it's Tax Software and EFile Service is Fast and Easy
Tax Fraud Attorneys
Tax fraud is a white collar crime involving offenses like tax evasion, non filing of tax returns, non declaration of income and assets, misrepresentation of conditions for exemption, forgery, and any other crimes related to the payment of taxes. Tax fraud attorneys are lawyers who fight criminal cases on behalf of those charged with tax fraud.
Tax fraud attorneys, unlike attorneys handling income or business tax, are employed only after a person or organization has been charged with tax fraud. They don't generally advise on tax planning or filing of returns, but are hired after a person suspects he may be under investigation, or when authorities start a tax audit.
A skillful tax fraud attorney will negotiate with the authorities on behalf of his client and draw attention to mitigating circumstances.
Navigating between tax planning and tax fraud is risky for a person without proper knowledge of tax laws. For example, many tax frauds...
Tax Fraud Attorneys
Tax help > Tax Fraud Attorneys
Some Calling for End of Non-Profit Tax Exemptions - Heated Debate on Blarbitration.com
(ContentDesk) March 19, 2006 -- Are churches and other non-profit organizations tax exempt status draining our communities of valuable revenue and using the funds to push their own agenda? The idea of giving tax exemptions to non-profits is to foster organizations that give back to communities.
However there are people who argue non-profits are not held accountable for the benefits afforded them by tax payers which have created a system that is easily hi-jacked.
Do you agree?Join the debate on www.blArbitration.com, calling for an end to the tax exempt status of religious organizations and other non-profit organizations.One debater argues, "...there is no statistical support to show that church goers are better citizens. And considering the news, it seems that when it comes to some crimes, the inhabitants of the churches are more likely to be sinners. So it infuriates me that...
Tax help > Some Calling for End of Non-Profit Tax Exemptions - Heated Debate on Blarbitration.com
Website Provides Taxpayers With Potential Federal Income Tax Deductions by Profession or by Occupation and Much More
Baltimore, Maryland (ContentDesk) March 20, 2006 -- With millions of American taxpayers filing, or
preparing to file their 2005 tax returns, now more than ever will they need to know what avenues are available to legally reduce their tax burdens and/or maximize their tax refunds. Unfortunately, while many of these taxpayers are making their tax filing plans, they neglect several of the legal tax deductions they may qualify to claim, or have qualified to claim. They also neglect several potential tax deductions that may be available to them based on their profession or occupation, or based on
special circumstances unique to their situation.The website www.myustaxdeductions.com takes the guesswork out of determining or exploring which expense items are tax deductible and which are not. Importantly, it provides a user with a listing of potential tax deductions that may be available to him/her by profession...
Tax help > Website Provides Taxpayers With Potential Federal Income Tax Deductions by Profession or by Occupation and Much More
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