The thing that usually gets people looking for back tax help is the dreaded audit. But what exactly do you do when you get audited? We have all heard the horror stories of the tax man wreaking havoc in people’s lives, so how do you prepare adequately for something like this? Luckily, aside from our fantastic guide, we also thought we would provide a few tips for those who are facing this arduous process.
First of all, do not lie. These people sniff out lies for a living, so what makes you think that you are going to get one by them? All lying does is make things worse, just like mom always said. What she did not tell you is that, if you lie, the IRS may use such unpleasant words as “fraud” when you meet with them, and then you need far more than back tax help–you need back tax representation. Speaking of meeting with the IRS, do not invite them into your house or business. Instead, go to their office and conduct the audit there. This is not because they are bad people (at least, in theory), but because you do not want to give them any more information than is necessary.
The fact that you are reading this is a good sign that you like to get prepared, and that is good, because you are going to be doing a lot of that in preparation for your audit. Contact the person who did your return and have them prepare records that justify the things they put on your return, and also to find out if they already sent you back anything. Back tax help can be as simple as having these things prepared ahead of time. However, we know that not everyone who receives an audit is going to end up in the super-organized category.
What you should never, ever, under any circumstances do, though, is ignore the tax notice. Putting your head in the sand is not going to make the tax man go away, and when your head finally pops out, Uncle Sam will be standing there with his money bags looking way more angry than before. The best back tax help we can offer is to at least do something constructive when presented with the issue at hand. In some cases that may mean hiring a tax specialist, but many times this can be resolved with just a little knowledge and elbow grease.
In either event, and in some part related to being prepared, knowing your rights is one of the most important things you can do, and falls just underneath “for the love of all that is good in the world, do not ignore the notice!” in terms of importance. Knowing your rights is one of the best back tax help tips that we can offer. If you know your rights, you have a lot more power during the audit process, even if you have representation. After all, it is hard to invoke your rights if you don’t know what they are.
Today, we want to give you some insight into some misconceptions you may not find in every back tax guide. These are tips that many may find obvious, but sometimes the fundamentals trip up even the most seasoned taxpayer. Since this is graduation season, it seems appropriate that we cover these tips now so that those heading into the job market can get used to wrapping their heads around some of these esoteric guidelines before crunch time arrives next year. And, not to be Negative Nancys, but hopefully you will find a job with a taxable income by this time next year.
One important key to remember is that “tax credits” and “tax deductions” are not the same thing. Would you rather have an amount deducted from a dollar, or would you rather have a credit for a dollar? This is an easy thing to forget, but a back tax guide is doing a disservice to those who do not make note of this important distinction. Deductions are based upon your income bracket, and thus when multiplying the percentage of your tax bracket to the value of your deduction, you get the worth of the deduction. And you wondered why people hate doing their taxes so much…
Speaking of things people hate about their taxes, there are ways in which you can avoid getting audited. Frankly, the best way of avoiding an audit is to be honest on your taxes. Honesty should always be the first step in a back tax guide, but we realize that is not usually the case. When the IRS notices consistent trends in your income history, number of dependents, etc, then there is little cause for concern from their standpoint, as everything looks as it should. When you start suddenly earning a fourth of your income and add 12 new dependents, that’s when Uncle Sam starts to get a little worried you might not be playing by the rules.
Dependents, since we are on the subject, are a temptation for some. Although we know you’d never do this (right…?), some people go so far as to list pets as dependents, and although your pets may be dependent upon you for survival, the IRS does not consider them dependents. This might seem a little obvious, but what good is a back tax guide if it only tells you the obvious. What might not be so obvious, though, is that your girlfriend or boyfriend who crashes at your place half the time cannot be claimed as a dependent if her/his parents are doing so as well. Be aware that this also pertains to children as well.
These may not be news for some, but they are the kind of questions that many people are afraid to ask because they are so basic. Needless to say, our back tax guide is a lot more comprehensive and deep than this, but we can’t offer golden advice for free. That said, though, our guide is affordable, and can also save you tons of money in IRS fees. It’s a win-win.
We recently spoke of some notable celebrities who had some trouble for failure to Pay Back Taxes. We stumbled across a story today about a company that was financed by US tax dollars (for the somewhat paltry sum of $33 million) and not only did the company go bankrupt but now still owes $1.5million in back taxes. Raser Technologies was given a $33 million dollar grant in 2010 to build a “green” power plant in Utah only to collapse like a house of cards amidst accusations of political shenanigans and financial impropriety. While we won’t get political it did give us an idea to explore further some well known or high profile companies that have had problems paying back taxes.
Continuing our list, we would be remiss to not go with some very low hanging fruit of Warren Buffet and his little mom and pop known as Berkshire Hathaway. And after reading this, private citizens looking for help to pay back taxes probably do not feel quite so bad, provided the amount owed in back taxes is less than one billion dollars. According to Berkshire Hathaway’s official 2010 report the company has been in a struggle with the IRS dating back to 2002.One website even went as so far to speculate that Berkshire Hathaway may owe as much as one billion dollars. Without looking at the record book-we are positive this may be the largest back tax amount owed in US History.
Zuccotti Park made headlines recently as the occupy Wall Street movement chose Zuccotti Park as their official headquarters and rallying point of the movement. Those who looked deeper into Zuccotti park and more importantly, the owners of Zuccotti park discovered that park owner Brookfield Properties and its parent company owe the city more the $139,000 in their failure to pay back taxes. We could probably list just a few of the ironies of the whole sordid affair. Merely the gall and audacity of those facts alone speaks volumes.
On a similar note, one county in Michigan decided to take on a true heavyweight when it was discovered that Fannie Mae and Freddie Mac were not complying with tax laws when a Fannie and Freddie owned property was sold. Oakland County treasurer Andy Meisner discovered that Fannie and Freddie’s refusal to pay back taxes had resulted in the loss of $1.6 million to the County and $10.8 million to the state. “We think it’s a pretty strong case,” Meisner was on record as saying. “There are some very inconvenient truths that Fanny and Freddie are working around.” Fannie and Freddie claimed that as a government entity they were excluded from regulations that extended to private companies…even though Freddie and Fannie are publicly traded companies that actually has the words “a private company serving a public purpose” on its own website.
Something tell us that we are just scratching the surface as to some major companies and corporations that are failing to pay back taxes. Sadly time and space limitations are prohibiting us from doing more research on the subject. However, we can say that for those looking for help for information and online ebooks providing information on how to pay back taxes; GraceForms.com is your premiere source for back tax, college scholarship, and how to get a grant information.
It’s a cliché, but completely true: “The bigger they are, the harder they fall.” Just because celebrities make a lot more than the average American does not mean that they know how to manage that money better. In fact, some celebrities have lost as much as 280 times the average American household’s income. When the tax man comes knockin’, though, then finding a good back tax guide would certainly be helpful for some of these top stars. Even if you have not lost the amount that some of these A-thru-C list names have, our guides are perfectly attuned to helping you solve your tax issues.
When your spending habits are more out of hand that Lindsay Lohan, or Pamela Anderson, chances are, you could probably use some back tax help too. Some of the names that should have realized that even celebrities have to pay back taxes range from Ozzy Osbourne (who owed $1.7 million in back taxes) to Chris Tucker (who owes a staggering $12 million in unpaid taxes). How someone “forgets” or is unaware that they owe millions of dollars in taxes is more than a little bit perplexing. Are not these the same people who buy Swarovski crystal iPhone cases?
Not everyone gets away scot-free, though, as some celebrities have actually been arrested for their failure to pay back taxes. Rapper Method Man was arrested for failing to pay $33,000, but this is nothing by comparison to some other bogus-tax alumni. And who might that be? Why, none other than Wesley Snipes, who received a three-year prison sentence for failing to pay $17 million in back taxes. Apparently, the threshold for going to prison for years like Snipes, and slipping through the cracks like Chris Tucker lies somewhere between his $12 million and the $17 million that the daywalker owed.
No, having tons of money does not come with the ability manage that amount of money. Perhaps it should be a requirement that the IRS send those owing these amounts a back tax guide, but then again, part of the reason most of these people are being so persistently sought (well, more specifically, their money) is that the government is too broke. Without getting political, it is no mystery that governments are looking to collect where ever they are able.
Eduardo Saverin is in hot water with some of the political big dogs on Capitol Hill. Senators Chuck Shumer and Bob Casey announced that they will be pushing a bill that keeps highly-successful expats from re-entering the US if they renounce their citizenship, since it will be assumed that it was done for tax reasons. After all, a person does not need back tax help if they are not citizens. Unless they can prove to the IRS that, no, they are not dodging taxes, but are like every other person who renounces their citizenship who is not wildly wealthy, then they will face not just prevention from entering the US, but also be subject to a 30% capital gains tax on any US investments made after renouncing their citizenship.
There’s only one problem: Saverin does not have to pay back taxes, since he is current for the time in which he was a citizen, and has agreed to pay “hundreds of millions of dollars in taxes to the United States government…on everything I earned while a U.S. citizen,” to use his own words. That means, even if the reasoning behind the two senators’ bill was valid (which it is not), they are still not going to be any piece of that big Facebook pie. Some have wondered if this bill would mean that his Facebook fortune is subject to those taxes, but since Saverin renounced his citizenship prior to Facebook’s IPO, the government has no claim to any part of that. Therein lays the problem for the senator. Lots of money that they feel they could have had, but it slipped through their fingers.
And one has to pause and wonder, does the fact that wealthy producers are fleeing the United States serve to benefit anyone and does a high ranking member of the Senate demonizing such actions going to hasten the swift exit? With so many people looking for a quality back tax guide, it makes little sense for the senators to be so committed to getting this one person, who renounced his citizenship in January 2011, well before any talk of Facebook’s IPO were even considered. One question to ponder is what rate would be high enough to take in revenue and at the same time low enough for those in the high income to stay in the country?
Making matters worse are those who think of countries with low tax rates as somehow undercutting the US and using the phrase “off shore tax haven” as a negative connotation. The facts are we are now a global society and never before has it been as easy to shop around to see which countries are most advantageous for maximizing one’s personal finances. Throw in those who can now do business via the internet and not locked into one geographical area and this flight is understandable. If someone in need of back tax help can do the math and see that the country of Singapore will fill their pockets at a higher rate than if they lived in Santa Monica, California and it is not a mystery as to why and how successful people make the decision to leave the US. Particularly for those who have no emotional attachment to a state or a country, picking the best country in which to live is almost as blasé of choice as what toppings to order on your pizza. We can either demonize and punish those seeking greener pastures-or make our own greener pasture right here at home.
At GraceForms.com, we feel that you should be able to reach your aspirations without obstacles. There are a lot of things that many people do that seem esoteric, yet at the same time, they seem so commonplace that it feels as though everyone should know how to do it automatically. Thanks to the internet, information is at the tip of your fingertips on nearly every topic imaginable, and at GraceFroms.com, we have the information you need to get a college scholarship, for example, or how to adopt a child. The process has never been easier, and with our guides, it hasn’t been more affordable, either!
For instance, many people need back tax help, but how do you get that help if you don’t have the money to pay your taxes in the first place? Seems counter-intuitive, so we decided to provide those people with a back tax guide that everyone can use themselves, quickly, easily, and at low cost. With a little time and patience, you can take the steps necessary to pay back taxes in a way that will be most beneficial to you.
With the economy today, people are looking to make money in just about every way imaginable. One option that is becoming increasingly popular is getting government grants. How to get a grant is easy once you know what is involved, but what exactly goes into the process? If you have ever tried getting a grant through the website, you should be given money on the spot just for figuring it out! At GraceForms.com, though, our guide to government grants takes out all the mystery and outlines how you can quickly and easily get the grants that you are eligible for.
Perhaps you are considering making a new addition to the family, and knowing how many kids out there need a loving home, decide to look at adoption. The only problem is, how to adopt a child is not exactly everyday conversation material. With our adoption guide, we describe the process, the fees, regulations, and what is needed when adopting a new family member. Now that the steps and the process are all laid out, adoption looks more and more like the best option.
When that child grows up and makes his or her way to college, there is another issue: that of how to get a scholarship. College is expensive, and with student debt at the levels it’s a now, getting a college scholarship is the only option available for many people. Getting scholarship help can be easy when you know how it’s done, and with GraceForms.com, we provide everything you need to find the funds necessary to get your suddenly-not-so-young youngsters what they need to go on to higher education and better futures.
Unfortunately, though, things do not always work out so well. Sometimes, it is in everyone’s best interest for a family to separate. Sadly, though, the children get stuck in the middle, and particularly for single mothers, collecting child support can be a huge obstacle. Before they know it, back child support has mounted into the thousands of dollars, and it feels as though nothing can be done to see a dime of it. When money is tight, GraceForms.com has guides that will help you do to get the child support that is owed to you.
Whatever your needs are, GraceForms.com appreciates the DIY spirit. There’s nothing a little hard work and persistence can’t fix, and we want to make sure you can get the knowledge you need to make that reality happen.
Welcome to GraceForms.com, your online ebook store and guide resource center! We are really excited about what we have to offer you, and this being our first blog post, we thought we would give you a better idea of how we can help you get the documents and papers you need to achieve your goals.
One of our primary services at GraceForms.com is that of online ebook seller. Because our drive is to help you get your tasks done yourself, our ebooks are all focused around getting things done. With our guides, you are sure to save a lot of time and money trying to figure out the process by trial and error. We have ebooks ranging from Health and Fitness guides, how to Avoid Divorce, Coping With Depression, and a variety of other topics to help you get on track and best prepare you to face the obstacles that stand in the way of living your life to the fullest.
Many people today are facing Tax and IRS Problems, Credit Repair, and other financial problems, so we have ebook resources online right now to help you in these areas as well. If money is tight as is, it might make a lot of sense in your particular circumstance to try and find the easiest and most effective way of solving these problems on your own. Luckily, this archaic process is made a lot more simple, and gives you the opportunity to achieve the best results with the least amount of money expended, in the least amount of time spent. Especially with problems of this nature, time is of the essence–we can’t just wait and hope things work themselves out, because it isn’t going to happen. Instead, be proactive and use the guidance we have compiled to get these issues resolved quickly. The longer the wait, the more difficult the endeavor becomes down the road.
With our ebook store guides, you can find solutions for almost any area. Maybe you’re dealing with Life After Divorce, or Child Support. If you are, you’re not the only one. There are countless people out there suffering the same difficulties and hardships you are going through right now, and a far larger number who have made it through to the other side. Take this chance to learn from their experiences, and in all likelihood save yourself much of the pain and fear that those before you went through.
Whatever problems you face, in any area, GraceForms.com is sure to have an online ebook solution and guide for you to help you see the other side of this obstacle. Life has it’s challenges, but there’s no reason to make those challenges harder than they need to be. We aren’t only about the hard times, though–we offer guides downloadable forms for Adoption, Grants and Scholarships, you name it. Take a look around GraceForms.com, and we’re sure that you’ll find guides to problems you might not have even thought you had, or knew there were guides for!