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Articles about or concerning Tax Relief, IRS Tax Relief, Tax Relief Refunds, Tax Relief Checks.
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Inheritance Tax Deductions in Galicia

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 Steve Mcgrath (September 26, 2011)  Just as in the other seventeen autonomous communities of Spain, the regional parliament in Galicia is responsible for setting the inheritance tax rates as well as deductions and exemptions that are available to residents there. This follows as a result of the devolution of responsibility from the central government which occurred in 2001 when the entire system of funding was overhauled .. (Taxes Relief)

Property Sales Tax in Madrid

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 Steve Mcgrath (September 21, 2011)  A major cost associated with the purchase of a property in any country is the sales tax. Known in the UK and Ireland as stamp duty, in Spain a distinction is drawn between the sales tax that is payable on the purchase of a second-hand as opposed to a new property. In effect the central government in Spain controls the tax rate that applies to the sale of new properties, and it is .. (Taxes Relief)

Inheritance Tax Deductions in Madrid

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 Steve Mcgrath (September 21, 2011)  Since competency to set inheritance tax rates was devolved to the autonomous communities in Spain in 2001, it has been left to each regional parliament to decide the inheritance tax rates, deductions and exemptions that should apply within their region. As a result there has been a progressive easing of this tax over the years to the point that those who are ordinarily resident in a .. (Taxes Relief)

Income Tax Reductions and Property Transactions In Castilla La Mancha

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 Steve Mcgrath (September 08, 2011)  Many homeowners in the UK and Ireland will be used to the notion of getting tax relief on home mortgage repayments and traditionally the same has held true in Spain - up until very recently. The current socialist government has decided to curtail that tax break by making it available only to those who qualify under the strict new income limits that are being applied. Due to the complex . (Taxes Relief)

Income Tax Deductions Relating to Property Transactions in Asturias

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 Steve Mcgrath (August 24, 2011)  Anyone with earnings in Spain is of course subject to income taxes here. However a number of different tax deductions are available and some of those are in respect of dealings with property. Typically there is a variation in the tax breaks available as between autonomous communities and so, in order to determine what deductions exist it is necessary to consider the issue at a regional .. (Taxes Relief)

Inheritance Tax Deductions Available in the Balearic Islands

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 Steve Mcgrath (August 17, 2011)  At the turn of the century the Spanish central government decided to change the manner in which the seventeen autonomous communities, each with their own regional government and parliament, would be financed. As part of this overhaul competency in the matter of setting the tax rates with regard to succession and gift taxes has been devolved to the regional governments. As a result many . (Taxes Relief)

Resolving Your Tax Bill in Chapter 7 Bankruptcy

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 Manuel Davis Jr. (July 11, 2011)  It is a common myth that Chapter 7 bankruptcy has no effect on tax debt. Although there are better ways to deal with tax debt, bankruptcy is still something that you should consider. Before we go any further, it is important to note that only individuals can have tax debt discharged through Chapter 7 bankruptcy. Business entities do not qualify. Along with this, only federal tax can be . (Taxes Relief)

Inheritance Tax Deductions in Aragón

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 Steve Mcgrath (July 01, 2011)  A number of important tax deductions are available for anyone who is facing the prospect of dealing with an inheritance in Aragón in north-eastern Spain. Most of the deductions have been available for a number of years though some measures only came into effect in 2011. The most important deductions available are as follows: 1) An exemption for beneficiaries who are children of .. (Taxes Relief)

What to do when there is no Spanish will made

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 Steve Mcgrath (June 14, 2011)  It is probably fair to say that most of us have planned for our ultimate demise in much the same way as we have gone about planning our lives i. e. virtually not at all. Well, perhaps that is an overstatement but it is certainly true to say that most people delay dealing with the question of what happens to their worldy possessions once they have ‘shuffled off this mortal .. (Taxes Relief)

Spanish Inheritance Tax and the Need to Make a Will

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 Steve Mcgrath (June 07, 2011)  Inheritance tax has been referred to as the most unfair of all taxes and in Spain while this fact becomes readily obvious it is further compounded by the strictness of the applicable rules and the readiness of the authorities to apply those strict rules even in cases where it may seem completely unfair. Remember in no jurisdiction is ignorance of the law a defence and knowledge of this .. (Taxes Relief)

State Exemptions to Inheritance Tax Spain

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 Steve Mcgrath (June 07, 2011)  Laws, and one might argue tax laws specifically, are particularly complex beasts. As a general statement this can be applied to any of a hundred jurisdictions. However, in Spain it is even more accurate given that while the laws that govern gift and inheritance taxes there were enacted by the state parliament, there exists regional legislation as well. Control of inheritance duty rates . (Taxes Relief)

What If You Can't Pay Taxes When Due?

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 Manuel Davis Jr. (January 20, 2011)  If you owe taxes but cannot pay, you are clearly in a predicament. Of course, there are things you can do to quickly better your situation. Remember, this is not the end of the world. Some people think that they are going to jail if they don’t pay their taxes when due – this probably isn’t the case. You need to realize that there are some actions you can take to .. (Taxes Relief)

IRS Collections & Statute of Limitations

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 Manuel Davis Jr. (January 05, 2011)  Did you know that the IRS must collect a tax debt within 10 years if they are going to do so? This is known as a statute of limitations. This period starts with the date of assessment, not the year for which the tax is due like many people believe. For example, if a return for 2005 is not filed until 2007 and the tax is assessed in 2008, the 10 years begins in 2008 and expires in 2018. . (Taxes Relief)

Roth IRA- Weapons of Mass Deductions...

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 Dan Doyle (December 11, 2010)  Weapons of Mass Deductions… Eliminate Your Roth Conversion Taxes WHAT?? That’s right! Using our Smart Shelter IRA™ your 2010 conversion from a traditional IRA to a Roth will allow you (if you qualify) to eliminate your entire Roth roll over conversion taxes. Doesn’t allow you to skip out on the taxes you owe. You still have to pay income tax on the amount you .. (Taxes Relief)

Tax Negligence vs. Tax Fraud

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 Manuel Davis Jr. (December 07, 2010)  There is a big difference between negligently filing a return and tax fraud. Do you know the difference, as well as how the IRS makes a final determination? It is important to be 100 percent aware of what the IRS looks for. Along with this, make sure you know how to avoid both negligence and fraud. IRS auditors are trained to find fraudulent returns. With this, they are looking for .. (Taxes Relief)

IRS Hardship Status Brief Overview

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 Sally Pratt (November 16, 2010)  You want to pay the IRS but do not have the money right now to do so. If you feel that paying your tax liability would put you in a compromising financial position, you must look into all your options. You may qualify for IRS hardship status, which means that you do not have to pay your taxes at the time being. Just remember that this is not going to last forever. IRS hardship status .. (Taxes Relief)

Top 8 Reasons Penalties Can Be Abated

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 Sally Pratt (November 12, 2010)  Are you interested in having IRS penalties abated? If not, and you owe them, something is wrong. You may be surprised to find that the IRS is willing to wipe out any penalties that you have been assessed. This has nothing to do with the actual back taxes that you owe, but at least you can save some money. Unfortunately, the IRS does not clear all penalties for no reason. If you are .. (Taxes Relief)

Benefits of Hiring a Tax Debt Relief Attorney

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 Sally Pratt (November 11, 2010)  Are you thinking about hiring a tax debt relief attorney? If so, you must be having some tax-related trouble. There are many benefits of hiring a tax debt relief attorney, some of which will be more important to you than others. Realizing what what a professional can do for you will make it much easier for you to determine your next step. If you are looking for a legal analysis of your . (Taxes Relief)

Appealing an IRS Tax Levy

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 Manuel Davis Jr. (November 03, 2010)  If you need to appeal a tax levy there are several steps to take, as well as many details that you have to keep in mind. While you have the right to appeal a levy, you do not want to waste your time if you have no chance of the determination being overturned. In order for the IRS to use a levy they must follow this procedure: A letter was sent to the taxpayer requesting payment after . (Taxes Relief)

Be Aware of This Tax Settlement Scam

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 Manuel Davis Jr. (August 09, 2010)  If you have unsettled back taxes and are in desperate need of help, beware of those looking to take advantage of your vulnerability. We mean all of those companies promising to help settle your debt for ‘pennies on the dollar, ’ specifically. Like the age old advice, if something sounds too good to be true, it probably is. And this stance holds true for taxes, too. Tax .. (Taxes Relief)

Effective CPA Practice Marketing Strategies

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 Bruce Markey (April 26, 2010)  When it comes to the topic of how to effectively go about marketing your accounting and tax services, the sheer number of methods can be overwhelming. You may be asking, where do you start and which methods produce the best results? Of course there are a mixture of traditional and newer online marketing methods that are ideal for any business including accounting services and CPA firms. . (Taxes Relief)

IRS Bank Levy Definition, Reason, and Process

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 Manuel Davis Jr. (December 28, 2009)  Although the IRS bank levy may sound difficult to decipher, this is not actually the case. An IRS bank account levy is legal seizure of money from your bank account by the IRS to repay taxes owed. In fact, the process is quite simple once you know which steps are taken and the order in which they come. The first step is when the IRS assesses the taxes that you owe. If they find that .. (Taxes Relief)

Take an In-Kind IRA Distribution For Lower Taxes

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 Bob I Richards (January 16, 2009)  When you turn age 70½, you need to take a an IRA distribution each year. But if you don't need the cash to live on and you expect your the stocks in your IRA to increase in the future, consider taking an ‘in kind’ IRA distribution for improved tax benefits. Market declines have reduced the value of your stocks. Their lower values have decreased the IRA value. Since this .. (Taxes Relief)

Lower Your Nursing Home Expenses by Utilizing TFSA's

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 J Welch (January 15, 2009)  As the average age for seniors continues to increase, individuals and families are concerned with the rising costs of long term health care and of nursing homes. Approximately 2/3 of all adults will require long term health care assistance at some point during their lifetime, causing this expense to be a concern for most Canadian families. But, with the ability to save into a TFSA .. (Taxes Relief)

Start the New Year Off Right Settle IRS Tax Debts

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 Manuel Davis Jr. (December 24, 2008)  The beginning of a new year is an excellent time to reflect back on things you wish were different and how you can improve them for the coming year. A new year is a time to reflect on the changes we want to make and we are willing to take the necessary actions to be sure to follow through on those changes. Were your IRS problems a source of stress in your life the past year? Join the .. (Taxes Relief)

IRS Tax Debt - IRS Tax Debt Will Make Your Phone Ring Off the Hook!

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 Richard Close (October 01, 2008)  Stacks of Bills: If you're in debt, you're not alone. Thousands are Americans are in Debt the IRS. Maybe you lost your job, maybe you got a pay cut, and maybe there's no work out there, but your taxes are still due every year. How can you pay your IRS debt when you owe other creditors, too? The answer may shock you. The One and Only: When you're in debt, the IRS, they wants you to pay .. (Taxes Relief)

IRS Tax Debt - How to Remove an IRS Wage Garnishment & Survive This Recession

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 Richard Close (October 01, 2008)  Let's Face it: We're heading into a recession. The government won't admit it, but we know it's true.  The price of gas and food keeps going up while our paychecks stay low. So how can you possibly survive when the IRS is Garnishing your Wages, leaving you only a tiny fraction of your paycheck? Pay them off: Typically, if you enter a payment arrangement with the IRS they will no longer .. (Taxes Relief)

Taxpayers Strike Back - Fight Back and Beat the IRS

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 Richard Close (October 01, 2008)  Finally Caught: You may have found the way to beat the system for a little while. But no one escapes Uncle Sam or his team of IRS Hitmen for long. The IRS has many weapons they use to make you pay. Know the enemy. Then when the IRS strikes, you can fight back. Bank Robbery: One of the most dreaded methods the IRS uses to collect on taxes is the Bank Levy. The IRS locks you out of you .. (Taxes Relief)

IRS Tax Debt - IRS Penalties Bleeding You Dry? Know the Enemy

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 Richard Close (October 01, 2008)  Going Broke: IRS fines are expensive. Penalties were originally meant to punish taxpayers if they didn't follow the rules. Now they're a regular source of income for the IRS. Don't let the IRS extort you. Know your enemy and prevent penalties from bleeding you dry. The Penalty Box: Accuracy Penalties: The IRS can add a 20% penalty if they find you understated your income tax liability. . (Taxes Relief)

The Offer in Compromise Checklist - 5 Easy Steps to Settle Your IRS Tax Debt With an OIC

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 Richard Close (October 01, 2008)  It's Brutal: Getting your Offer approved is like winning the lottery. So be prepared. Follow this Offer in Compromise Checklist and make sure you can “win" before you start. 1. Do you have an open bankruptcy? If you have an open bankruptcy, stop now. The IRS will not approve your offer. 2. Did you file all Tax Returns before submitting an offer? You have to file all required Tax . (Taxes Relief)

Tax Protesters - Great News! You Don't Have to Pay Your Taxes

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 Richard Close (October 01, 2008)  No Taxes. No Problems: We all wish we didn't have to pay our taxes. We all might fantasize, but the tax protesters take this one step further by refusing to pay their taxes. They don't believe they have to pay. But are they right? And what will happen to you if you decide to side with them? Just Letting You Know: In all my years as an IRS-Hitman, I've never seen a single court ruling .. (Taxes Relief)

IRS Tax Liens - How to Save Your Credit and Your House From a Tax Lien

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 Richard Close (October 01, 2008)  The Silent Killer You may have heard of the IRS Tax Levy. It's a vicious tool the IRS uses to seize money and assets. Tax Liens don't transfer your property to the IRS, but they certainly mess up your credit. Few people know how serious the dangers of a Tax Lien are. Educate yourself. Don't wind up with a ruined credit report and no assets to your name. Goodbye, Credit! The most common . (Taxes Relief)

IRS Tax Levy - Help, The IRS Took Everything, Even the Doghouse!

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 Richard Close (October 01, 2008)  Assets Seized: Here come the Men in Black. They knocked on your door and took your cash, cars, your jet skis, and even Fido's house! Let's face it. If you made the IRS go through the trouble of seizing your assets, you ignored them for far too long. It's going to be hard to get your doghouse back, but there's still hope. What Will They Take? Practically everything. The IRS can Levy .. (Taxes Relief)

Is There a Statute of Limitations on Tax Debt?

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 Darrin T Mish (August 26, 2008)  Sometimes, people get into thinking if there will ever come a time when after years of collecting tax debts from you, the IRS can no longer impose any of its collection strategies. They inquire of there is a statute of limitations on IRS tax debts. Yes, there is. . The law allows the IRS to collect money from you for only 10 years. After that, your debts are automatically eliminated, .. (Taxes Relief)

A Few Tax Saving Strategies For the Retired

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 Darrin Mish (August 26, 2008)  Several people spend a substantial amount of their time scouring the web and publications for the latest stock strategy, or the newest trend in the market that will earn them more money, and at a faster rate than their previous investment. In fact, too much time is spent on this undertaking and none is dedicated in trying to lessen tax dues. Sure, it's important to earn money, but you .. (Taxes Relief)

Am I Taking Advantage of Empire Empowerment Zone Benefits?

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 Rick Shaw (July 30, 2008)  The NYS Empire Zone Program and the Federal Empowerment Zone Program have great tax benefits available for companies located in designated geographical areas. Unfortunately, I believe a lot of companies are not taking full advantage of these available tax benefits which are as follows: NYS Empire Zone Program 1) Income Tax Reduction Credit - this credit is allowed against a company's .. (Taxes Relief)

How to Delay IRS Collections to Settle Back Taxes

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 Manuel Davis Jr. (July 21, 2008)  When the IRS realizes that an individual has outstanding back taxes it begins its automated collection system. Understanding the basics of how this system works can allow individuals to delay the IRS to buy more time to get the money together to pay the back taxes owed, while slowing interest and penalties. Once the automated collection system starts on an individual, they will begin .. (Taxes Relief)

Settling Back Taxes Owed With an Installment Agreement

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 Manuel Davis Jr. (July 20, 2008)  Every year there are thousands of people that cannot pay in full the amount of taxes that they owe. If you are one of these people who cannot pay their entire tax bill owed, an installment agreement could be a good choice for you. This type of agreement can solve just about any issue having to do with back taxes ranging from not being able to pay to removing a tax levy. This type of .. (Taxes Relief)

State Back Taxes Settlement

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 Manuel Davis Jr. (July 18, 2008)  Having an outstanding tax income and attempting to come to some kind of state back taxes settlement varies from each of the different fifty nifty. As a point of fact there are actually only 41 states that collect resident individual income taxes, 35 of which based their system on your returns from the federal government. Now what do you do when you have state owed taxes? The answer is .. (Taxes Relief)

3 Options With a Federal Or IRS Tax Lien

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 Charles Corsello (July 18, 2008)  A tax lien is easy to understand if you break it down as is usually the first major enforcement used by taxing authorities (State or the IRS). A lien in general is a claim or security of interest placed on personal property to secure the repayment of debt. Therefore, a tax lien is a lien imposed by Federal or state law to secure payment of back taxes. A Tax Lien can be put on your .. (Taxes Relief)

When Can I Estimate My Tax Deductions?

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 Paul Mahalick (July 16, 2008)  Having accurate books and records are requirements of all businesses and individuals seeking to take income tax deductions. However, in reality, businesses and individuals may not have all the required documentation and/or receipts to fully support each of their deductions. With this in mind, as professionals we ask the question - when can a taxpayer estimate tax deductions? According .. (Taxes Relief)

IRS Offer in Compromise Settle For Pennies on the Dollar?

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 Jack Manhire (July 15, 2008)  I personally hate the sales pitch “Settle for Pennies on the Dollar" when it comes to the IRS Offer in Compromise program. The IRS itself even recommends caution when seeing this phrase. Not that it is entirely inaccurate. I mean, you can actually settle your back taxes with the IRS for a small fraction of what you owe. . . IF YOU QUALIFY! The results can be amazing. My firm .. (Taxes Relief)

Finding a Professional to Help With Back Taxes

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 Manuel Davis Jr. (July 13, 2008)  More than ever, Americans are having problems with back taxes. With the increasing complexity of tax laws every year more individuals are running into issues with the IRS. Many times it can be very difficult to take on the IRS on your own and with the complexity of many issues it is a good idea to hire a tax professional to handle those complex issues. Many people feel like if they .. (Taxes Relief)

Top 5 Ways to Settle Back Taxes

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 Manuel Davis Jr. (July 13, 2008)  When it comes to settling IRS back taxes there are many options. It is best that you learn all available options and see what fits your individual situation the best before setting up a plan of attack. Some important factors to figure out prior to making your decision of what back tax settlement method to use are your tax amount owed, amount you can afford to pay, the amount of assets .. (Taxes Relief)

Back Taxes Relief From the IRS Stimulus Package

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 Manny Vetti (July 11, 2008)  Life can be busy and money is not always available so it is not uncommon for a person to have failed to file taxes at one year or another. This year however is an optimal year to catch yourself up because the economic stimulus check can be used as back taxes relief. If you owe money to the IRS that you simply do no think you have, then this is especially your year. This windfall to get .. (Taxes Relief)

Filing IRS Back Taxes

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 Manuel Davis Jr. (July 11, 2008)  The time for filing federal taxes has now lapsed and if you have not filed for the year with the IRS, back taxes may still be filed to your benefit. IRS back taxes should generally be paid as quickly as you are able. The federal government's approach to taxes is to allow the tax payer to voluntarily file their returns. This does not mean that the payment of taxes is not mandatory. The .. (Taxes Relief)

IRS Levies and Community Property States

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 Jack Manhire (July 07, 2008)  An Anonymous poster recently wrote me worried about her husband's assets. They live in California (a community property state). They file “Married Filing Separately. " She owes for three years of back taxes. He owes nothing. Everything is in his name, including the home they both live in. Anonymous wants to know: "Will the IRS put a lien on [the] house since we are married? Can .. (Taxes Relief)

Charity Car Donations The Basics

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 Jo Jude (July 03, 2008)  Car donation is the practice of giving away no-longer-wanted automobiles to charity organizations. Your charity car donation helps these organizations substantially increase their contributions to the public good. As a charitable contribution your car donation could make a big difference. However, non-profit organizations in the US have come to rely increasingly upon the revenue from .. (Taxes Relief)

IRS Tax Help Payment Plan How to Set Up a Payment Plan With the IRS on Back Taxes

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 Jack Manhire (July 03, 2008)  Ok. Let's talk about how to get the IRS to accept a pay plan for the back taxes you owe. Malcolm C. of Lexington, KY writes me asking how he can set up a payment plan with the IRS on his $19,000 tax debt. Let's review some of the facts of the case first: 1. Malcolm owes for two years; 2003 and 2004. 2. All of his tax returns are filed. 3. He is not under a current levy/garnishment. .. (Taxes Relief)

How to Get the IRS to Release Your Bank Levy and Wage Garnishment For Back Taxes Owed

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 Jack Manhire (July 01, 2008)  Tori D. from San Diego wrote me with a case where she is being garnished at work and it's only leaving her a few hundred dollars a month to live off of. OUCH! This is one of the worst things that can happen when you owe the IRS back taxes. Many of the taxpayers I have come across usually have a false sense of security when it comes to the IRS because they think “hey, I don't own .. (Taxes Relief)




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