Tax Law BlogPage 12 of 28
Expert insights on IRS tax resolution, criminal tax defense, and compliance from our attorneys.
The Long and Short of It – This Attorney is Going to Jail
New Jersey attorney Douglas M. Long pleaded guilty to evading more than $250,000 in federal taxes on income generated from his law firm. Long, managing partner of Long & Marmero LLP, had primary control over the firm’s finances and supervised the firm’s bookkeeper. He used the company’s bank account
Gregory McCauley Jr., Esq.•1 min readJun 18, 2020Form 433-D IRS Installment Agreement [with video]
Form 433-D is used for the application for an Installment Agreement with the IRS to know when and how much to automatically draft from a bank account. What a Form 433-D is used for This form is used for the application of an Installment Agreement with the IRS. An Installment Agreement is the underst
Gregory McCauley Jr., Esq.•2 min readJun 17, 2020Federal Tax Lien Statute of Limitations
A fact that is not widely advertised by the Internal Revenue Service is the statute of limitations on Federal Tax Liens. The Federal Tax Lien Statute of Limitations is 10 years. This means that the Internal Revenue Service has 10 years to collect unpaid tax debts from you. After the 10 years expires
Gregory McCauley Jr., Esq.•4 min readJun 16, 2020How Does the IRS Calculate Penalties
According to law, IRC § 6651(a)(1), the your Internal Revenue Service has to impose penalty for failure to pay tax that is due on your return. The same law, IRC § 6651(a)(2), provides the IRS with percentage of penalty to impose or fine the taxpayer. The IRS calculates penalties according to law and
Gregory McCauley Jr., Esq.•4 min readJun 16, 2020How to file form 3921 electronically
IRS Form 3921 is used to report the exercise of an incentive stock option. This form is used by corporations to document each transfer of stock to a person. If your corporation offers incentive stock options and you accept, you must file Form 3921 for each transfer. Where to find Form 3921 If employ
Gregory McCauley Jr., Esq.•2 min readJun 16, 2020What happens if you owe the IRS money and don't pay
Year after year, some taxpayers end up owing more money because it accrues year over year with more debt. But what if you don't or can't pay? Well, in some cases they will use your assets to pay back the debt. The IRS can place a lien on your property and assets, which could later […]
Gregory McCauley Jr., Esq.•2 min readJun 16, 2020A Buffet of Lies and Deceit
The owners of the New China Buffet and Grill in Tennessee have been charged with employment and income tax fraud, conspiracy to harbor illegal aliens and money laundering. Quanwei Shi and Chongqiang Chen, both 29, are accused of hiring undocumented workers from China and Guatemala to work at their r
Gregory McCauley Jr., Esq.•1 min readJun 16, 2020Tax Penalty Relief
McCauley Law Offices, P.C. can help you if you are dealing with large penalty amounts and interest fees being applied to your back taxes. Hopefully, the fact that the IRS charges penalties and interest fees on the debt that you owe does not come as a surprise to you. You may feel as if you […]
Gregory McCauley Jr., Esq.•4 min readJun 15, 2020What is the Fresh Start Initiative and Can I Qualify?
You are not alone if you are a struggling taxpayer that hopes that the IRS will just forget about your tax debt. Unfortunately, the IRS will not forget about your tax debts and leave you alone if you decide to ignore your tax liability and fail to pay them. Failing to pay taxes that are […]
Gregory McCauley Jr., Esq.•3 min readJun 12, 2020I have Unfiled Payroll Taxes…What Should I do?
Payroll taxes are taxes paid on the wages and salaries of employees. These taxes fund social insurance programs such as Medicare and Social Security. A company owner, or chief officer is typically held personally liable for paying payroll taxes, however the IRS can pursue more than just one person f
Gregory McCauley Jr., Esq.•3 min readJun 11, 2020What is an IRS Installment Agreement and How do I pay?
Owe back taxes? Facing wage garnishment? You may have heard about an IRS Installment Agreement but you are unsure of how to proceed. McCauley Law Offices, P.C. can help you negotiate an IRS Installment Agreement that puts your mind at ease and allows you to pay your tax debts in a reasonable way. If
Gregory McCauley Jr., Esq.•4 min readJun 11, 2020What is Form 8027 and how to file electronically
Form 8027 is used for food or beverage establishments where tipping is customary. If your employees make more than $20 in tips per month, they are required to send you a document stating how much they made so you can record this on Form 8027. They can use Form 4070 to record tips to share […]
Gregory McCauley Jr., Esq.•2 min readJun 11, 2020The IRS Returns, But This Tax Preparer Taketh
Michigan tax preparer, Mark Alan Patterson has been charged with wire fraud. Patterson worked for Shuster Tax Service as a tax return preparer from 2015 until February 2020, when the fraud was discovered. He is accused of stealing a portion of his clients’ tax refunds by directing portions of refund
Gregory McCauley Jr., Esq.•1 min readJun 11, 2020I Cannot Pay My Taxes…..Now What?!
Have you have received your tax debt for the year and realize that you cannot pay the debt owed for the year? If you cannot afford to pay your debt then the first thing to remember is that you should not panic. When your debt is not collectible the IRS will continue to bill you […]
Gregory McCauley Jr., Esq.•4 min readJun 10, 2020Offer in Compromise (OIC)…Is it a Good Idea?
The offer in compromise (OIC) option that the IRS provides for settling a tax debt should not be entered into without first giving it a great deal of thought and consideration. You should receive sound advice from a tax attorney that you can trust before you make agreement for an OIC to the IRS. You
Gregory McCauley Jr., Esq.•2 min readJun 10, 2020How to Avoid an IRS Audit
It has been said that there are few certainties in life and taxes are one of them. We are positive that getting audited by the IRS is something that we all, with certainty, want to avoid. Some reporting groups say that getting audited is about as half as likely as it would have been ten […]
Gregory McCauley Jr., Esq.•4 min readJun 9, 2020Why you could have gotten an IRS notice letter
The IRS sends out millions of letters each year notifying taxpayers of important things to remember or address. If you get one of these letters with a code, you may or may not have to respond to the letter — depending on the notice. Read the letter thoroughly to learn what you need to do […]
Gregory McCauley Jr., Esq.•2 min readJun 9, 2020How to respond to an IRS notice letter
Don't panic if you get a letter from the IRS with a code listed. In most cases, you don't have anything to worry about. The IRS sends out millions of letters each year to taxpayers notifying them of account information. Read it carefully to know what you're supposed to do. If you don't need to respo
Gregory McCauley Jr., Esq.•2 min readJun 9, 2020What to do when you get an IRS notice letter
Don’t panic. People often get letters from the IRS notifying them of changes to their account. Most of the time you don't need to do anything. Other times, you will need to edit your information or send a letter back. If you get a letter with a notice code, simply follow the instructions on the […]
Gregory McCauley Jr., Esq.•2 min readJun 9, 2020She Left Her Employer Out in the Cold
Kerry Snow Yeager pleaded guilty to tax evasion, wire fraud and identity theft after embezzling $316,231 from her employer. Snow Yeager’s deceit began in 2015 and ended in 2017 when the owner of the company discovered the fraud. Snow Yeager stole the money through unauthorized ATM withdrawals, unaut
Gregory McCauley Jr., Esq.•1 min readJun 9, 2020Can I Get a Release from a Bank Levy?
The IRS can take money out of your bank account, take the cash value from any life insurance policies that have a cash value, seize your retirement accounts and keep your state tax refund. They can even take your license from you. They wield a great amount of power when collecting tax debts. They wi
Gregory McCauley Jr., Esq.•2 min readJun 8, 2020How Does an IRS Levy Work? How Do I Stop It?
Quickly stop IRS levies and resolve your IRS liabilities owed with help from McCauley Law Offices, P.C. Give us a call today. Can the IRS take money from your bank account without giving you notice? The short answer is no. They cannot take money from your bank account and garnish your wages without
Gregory McCauley Jr., Esq.•3 min readJun 8, 2020The difference between Innocent Spouse and Injured Spouse IRS relief
IRS spouse relief (Innocent Spouse and Injured Spouse) is the process of submitting forms for the reallocation or alleviation of funds so one spouse doesn't have to pay for the other spouse's tax debts, interest, and penalties. What is Innocent Spouse and Injured Spouse? These are two terms that des
Gregory McCauley Jr., Esq.•2 min readJun 8, 2020Explained: Streamlined Installment Agreements with the IRS
IRS Streamlined Installment Agreement is a faster way to pay for debts to the IRS because you aren't required to show verification of your assets, expenses, debts, or income. It can also be spread out the cost so it doesn't have to be paid back all at once. If you owe the IRS $100,000 or […]
Gregory McCauley Jr., Esq.•2 min readJun 4, 2020Reality Star Steals SBA PPP Funds and Is in A Truckload of Trouble!
Maurice Fayne, one of the stars of VH1’s “Love & Hip Hop: Atlanta” has been arrested and charged with federal bank fraud for misusing funds from the SBA’s Covid-19 Paycheck Protection Program (PPP). Fayne runs a corporation called Flame Trucking and his PPP loan application claimed that he had 107 e
Gregory McCauley Jr., Esq.•1 min readJun 2, 2020Your IRS Questions Answered Here…
Question: I have a huge tax amount owed to the IRS and they are harassing me and I need help. I got a quote from a national firm which seems extraordinarily low. Why should I go with you? Answer: If someone quoted you a bargain basement fee, think about this: do you think an experienced […]
Gregory McCauley Jr., Esq.•1 min readMay 28, 2020Did You Know?
Dr. Walton Lillehei, known as the father of open-heart surgery, was convicted of five counts of tax evasion in 1973. Among other imaginative deductions he claimed a $100 payment to a prostitute as a charitable contribution.
Gregory McCauley Jr., Esq.•1 min readMay 26, 2020Showing 298–324 of 732 articles
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