Thursday, April 29, 2010

The IRS-Hitman Celebrity Hit List

This list is just the beginning... so many celebrities think they can get away with not paying the IRS. What makes them think they can get away with not paying the biggest collection agency in the world? We may never know, but these examples should be a lesson learned for the hundreds of taxpayers out there that owe the IRS or have yet to file their taxes. If Tax Debt can happen to any of these celebrities, it can certainly happen to you, too!

- Thomas ‘Hitman’ Hearns debt to IRS was $450,000

- Ruben Studdard owes nearly $200,000 in state and federal taxes.

- Joe Francis spent 10 months in jail for tax evasion, paid $250,000 in back taxes.

- Nicolas Cage reportedly owes $14,000,000 in taxes.

- Jose Canseco reportedly owes the IRS more than $320,000 in back taxes.

- Alexis Stewart (Martha Stewart's daughter) reportedly owes $737,000 in taxes.

- Willie Nelson at one time owed the IRS $16.7M in back taxes.

- Richard Hatch (first survivor winner) went sentenced to 51 months in prison and
fined $600,000 for tax evasion.

- Leona Helmsley, served two years for tax evasion.

- Zsa Zsa Gabor, reportedly owes $118,000 in back taxes.

- Gisele Bundchen has a state of California tax lien filed against her for $72,003.

- Patti LaBelle, owes more than $337,000 in federal taxes.

- Val Kilmer, owes $538,858 in federal taxes.

- Sinbad, owes $8.15 million in taxes.

- Terrence Howard, owes $1.1 million in taxes.

- One of Steve Harvey’s companies (Wonder Love Inc.) owes more than $2.1 million in delinquent federal taxes.

- Toni Braxton owes $396,000 in delinquent federal taxes.

- Corey Feldman owes $30,996 in back taxes.

Wednesday, April 28, 2010

What Happens AFTER You File Your Taxes?

It's been nearly two weeks since the tax filing deadline, and many that filed on time are anxious. Maybe you're waiting on your return, or maybe you've made a few mistakes that you need to fix. This quick guide will let you know what to expect AFTER you file your taxes and answer some frequently asked Post-Tax-Filing Questions.

Where's My Tax Refund?

It's easy to check on the status of your refund, you can do this by phone or online 72 hours after the IRS acknowledges receipt of your e-filed return, or 3 to 4 weeks after you send a paper return in the mail. Keep a copy of your 2009 tax return handy, you'll need to know your filing status, SSI number, and the exact amount of the refund. Use the following options to check on your refund status:

- Go to IRS.gov, and click on "Where's My Refund"

- Call 1-800-829-4477 24 hours a day, seven days a week for automated refund information

- Call 1-800-829-1954 during the hours shown in your tax form instructions

What Records Should I Keep?

Most recommend you keep tax records for three years. Some documents, like records relating to stock transactions, home sales or purchase, IRAs, and business and rental property should be kept longer than three years.

I recommend keeping copies of filed tax returns as part of your records. You may need to them help file an amended return or file future returns. Worst case scenario, you may need them in the event of an audit.

What if I moved after I filed?

If you move after you filed your return, you should send Form 8822, Change of Address to the IRS. If you are expecting a refund through the mail, you should also file a change of address with the U.S. Postal Service.

What If I Made a Mistake?

Errors may delay your refund and could even result in IRS notices coming to you. If you realize an errors you can correct your return by filing an amended return using Form 1040X, Amended U.S. Individual Income Tax Return.

If you have more tax questions, you can always send them to me at irs-hitman@taxdefensenetwork.com.

Tuesday, April 27, 2010

Christina Ricci and her $179K Tax Debt

Tax Season has recently ended, but it hasn't for those that owe. Recently, actress Christina Ricci has joined the roster of celebrities that owe Tax Debt.

According to the Federal Tax Lien filed earlier this month, Christina Ricci owes the IRS $179,568.30 in unpaid taxes from 2008.

A rep says Christina was told about the lien on Wednesday, and she is taking "immediate action to address it in a responsible manner."

Lesson Learned: Yet again, another celebrity owes the IRS. Even taxpayers with unlimited resources and likely multiple accountants somehow end up owing Uncle Sam. If you haven't filed your taxes yet, get to it. It might not happen immediately, but the IRS will catch up with you!

Monday, April 26, 2010

You Can Still File For FREE Online

There's a common theme as I go through my inbox this morning...many taxpayers still haven't filed their taxes. Sure, the deadline has passed, but you can still file your taxes for free online. And it's better now than never.

It's easy to file your taxes for free online. Here's the step-by-step instructions for filing for free online:

Step 1. How to Get Started: From the "Free File Home – Your link to Free Online Filing" page, click on the "I Will Find a Company" button at the bottom of the page. You will go to an IRS.gov Free File page where you may start your search for a Free File company.

Step 2. Determine Your Eligibility: You must first determine your eligibility for using a particular company. Each company has a simple description of their eligibility criteria for using their free service.

Step 3. Link to Free File Company Service: After choosing a company, click on the company's name, which sends you directly to the company's Web site (you will be notified you are leaving IRS.gov and being sent to a commercial Web site). You may then begin the preparation of your tax return.

Step 4. You may exceed eligibility criteria after selecting a company

You may determine after you start preparing your tax return with a particular company you are not eligible for the company's Free File service and you may be subject to a fee.

If this notification occurs you have the following options:

1. Return back to the IRS' Free File homepage and review the list of companies and their services and select another company you may qualify for;

2. Continue completing your return but take note of the fee displayed on the company's Web site or

3. If your income was above $57,000 you can use the Free File Fillable Forms tool to complete your tax return and file it electronically

Go here to Free File. If you have additional questions about Tax Filing and Tax Debt you can always send me an e-mail.

Friday, April 23, 2010

Fake IRS agent ordered to Pay Hotel $55,000

Smart Move: An IRS Agent live for free in a California hotel for two years, racking up a $55,000 bill. There's only one problem with this scenario- this woman wasn't an IRS Agent at all! She's caught, and now she has to pay it all back!

Police reports state that he woman began living in a hotel in Novato, California in 2002. This is when she started making up stories about being an agent for the IRS. She continued to pay her bill on time until around 2008, when she told the hotel co-owner that she wouldn't pay her bill again until the completion of her IRS investigation.

To add insult to injury, she had the hotel owners write letters to the IRS, which she promised to deliver. But the charade is up, and she has pleaded guilty to charges of impersonating a federal officer.

Instead of sending the fake IRS agent (who is in her 60s and his diabetic) to prison, she was sentenced to give years of supervised probation and ordered to pay the $55K back to the hotel owners.

Lessons Learned IRS scammers are out there. You have to be careful of who you trust when it comes to your Tax Debt issues. These hotel owners may now be deeper in debt because they actually believed this woman was an IRS Agent.

Thursday, April 22, 2010

Tax Mistakes? It's Not Too Late! File an Amended Tax Return

Amid the chaos with filming a show, I'm making time to address all of my e-mails. (Tax Questions? I'm here to help, just send an e-mail to this address.) Many of you are stumped on IRS Form 1040X, you need to know how to File an Amended Tax Return. IRS 1040X is less confusing than it seems. Here's some step by step tips that will help you prepare your Amended Tax Returns.

1. First, you have to fill out a NEW Form 1040. You will report the differences between your ORIGINAL tax return and your NEW tax return on Form 1040X.

2. A Form 1040 is required when you file an amended tax return even if you used a different form to file your taxes. Fill out Form 1040 in it's entirety, as the IRS scrutinizes Amended Tax Returns even more carefully than they scrutinize regular tax returns.

Attach all necessary schedules, forms, and documents to the new Form 1040.

3. BEFORE you start on your Form 1040X you need to have your original tax return and your new Form 1040 in front of you, place them side by side for ease. Now get out Form 1040X, you'll notice the three columns.

COLUMN A reports various items from your original tax return. COLUMN C reports the same items from your revised 1040. COLUMN B reports the difference between the old and the new numbers. If the difference is an increase, the number will be positive. If the difference is a decrease, there will be a negative number in Column B.COLUMN A plus COLUMN B should add up to COLUMN C.

4. Remember, the most important part of Form 1040X is on page two of the form. This is the area where you report what changes you made to your 1040 and the reasons for the changes. Be clear and consider in your explanations. The IRS may reject and return your Amended Return if your explanations lack detail. Tell the IRS EXACTLY why the changes are being made.

EXTRA TIPS:

- Be sure to write the tax year you are amending your tax returns at the top of Form 1040X.

- Check your numbers and your math! Then Double Check them!

-Sign and date your amended return, if you filed jointly have your spouse sign it as well. Many people forget this crucial step.

Tuesday, April 20, 2010

NEW REALITY TV SHOW Filming Here in Jacksonville!

This real life, High Def TV drama is now shooting right here in Jacksonville! Co- Produced by Jacksonville born, Academy Award Considered filmmaker, (Young at Hearts) Don Campbell, The "IRS (+) Hitman," is a cross between "Till Debt Do Us Part" & "Extreme Home Make Over;" the show featuring real life EX-IRS Hitman & former IRS Agent, whose Father was also a career IRS man; one day in a cold sweat, "The Hitman" awoke & realized he could no longer be apart of an organization that destroyed peoples lives! "It was living a waking nightmare... I realized that I had to change my life in order to make a positive change in the lives of others," say's the Hitman himself.

And now...
Helmet clad, head to toe black bike leathers, and armed with a lifetime of IRS knowledge, the IRS (+) Hitman uses his IRS prowess, barely legal black on black motorcycle, street smarts, & calculator, to free the devastating weight of the IRS from the shoulders of the American TaxPayers!

Through a local Craig's list ad, The IRS (+) Hitman, discovered its first taxpayer family in need... right here in Jacksonville.
"We're not building houses but we're definitely putting lives back together and keeping the IRS from derailing the American Dream," says the Hitman.

And agreeing whole heartily is RJ, wife Barbara, & their 4 mega talented R&B crooning sons who are potentially only 1 CD away from achieving musical stardom with their highly popular band, called Jonra!

"All we want is what's best for our family & and for the boy's singing careers...
But with this IRS debt of over 20 k, and me, having to run to the ATM machine every week to get the cash before the IRS does. We're on the verge of losing everything and we're so close in achieving the dream of a lifetime." We needed help and we didn't know where to turn." "That's when we reached out to the IRS (+) Hitman. We had no idea there was someone out there like the Hitman to get us the help we need… to free us from this IRS nightmare. We’re counting on the Hitman… plain and simple.”

“Reality TV with A Bullet.” Show teaser, behind the scenes interviews and special footage can be seen for the first time ever at irs-hitman.com.

Follow the Hitsquad on Facebook at
http://www.facebook.com/pages/IRSHitman-Reality-TV-Show/110542558970751?ref=ts

The IRS Hitman is interested in press inquiries and can be reached at:
HitsquadIRS@Gmail and 904 200-5453

www.irs-hitman.com
904 200-5453
Don Campbell

Reality TV with A Bullet!

Friday, April 16, 2010

Launch Party Update!


Happy Friday everyone! Thanks again to everyone for joining us last night LIVE on Ustream. Did I mention live?  Success was had, April 15th is behind us, irs-hitman.com is live... 


And another LIVE... (yes live) HITMANIRS Ustream Event is in the works for our April 30th, IRS (+) Hitman Show, so mark your calendars!   

Thursday, April 15, 2010

IRS-Hitman.com Launched Full Throttle- Kick Off Party 9PM Tonight!



Check it out IRS-Hitman.com is officially launched Full Throttle.
 

The new IRS Hitman website has been launched! Details on the IRS Hitman Reality TV are now avaialble. Check out the website to:

- See previews of our upcoming show
- Meet "The Johnsons" the first IRS Hitman family
- Learn how you can be on the IRS Hitman show
- For those that are camera shy, tell us your Tax Stories. Share it with the world!
- Meet and intereact direct with "The Hit Squad", my back bone and support team of tax experts

Don't forget our Live After Launch Party: Tune in and watch my ustream.tv broadcast live tonight at 9:00PM. Bring your Tax Questions and I will answer them for you, live!

Go here http://www.ustream.tv/channel/hitmanirs/v3# to RSVP for the event. Scroll down to the bottom of the page and click "RSVP". When you do this will prompt you to create a new account. Go ahead and do this so you can

Pamela Anderson owes Over $493K in Taxes- Who You Gonna Call?

Pamela Anderson, the iconic Baywatch Bombshell and Dancing with the Stars contestant had a tax lien of $493,144 filed against her recently. Every year the California Franchise Tax Board publishes their list of the state's top 250 tax delinquents. Pamela Anderson is one of the top three of the list, which also includes Halsey Minor and Tim Blixseth.

Dancing with the Stars contests sure seem to have issues paying up to the IRS. First there was Helio Castroneves, and now Pamela Anderson is singing the IRS Tax Debt blues. These famous examples just go to show you, even celebrities with access to the best resources and accountants mess up and end up owing the IRS. It's important to ask questions and work with the professionals to avoid Tax Mistakes.

Take this important lesson with you on this day, the dreaded Tax Day. I'd like to personally let Ms. Anderson know that I would be ready and willing to help her if she ever needs professional tax advice.

Don't forget to tune in and watch my ustream.tv broadcast live tonight at 9:00PM. Bring your Tax Questions and I will answer them for you, live!

Go here http://www.ustream.tv/channel/hitmanirs/v3# to RSVP for the event.

Wednesday, April 14, 2010

IRS (+) Hitman Reality Show Launch Tomorrow!

The Countdown Begins.... The 24 hour countdown has begun. Tomorrow evening, I will appear live on my Ustream.tv channel! Tune in at 9:00PM to ask me tax questions, live!

Here's what you do:

1. Click here: http://www.ustream.tv/channel/hitmanirs/v3#

2. Scroll down to the bottom and click RSVP

3. Tune in at 9:00PM Tomorrow, April 15, 2010

I'll answer ANY Tax Question

1. Issues with Tax Debt? I've got the answers

2. Want a Tax Debt Settlement? I'll tell you if you qualify

3. Need Tax Filing Help? I'll help you, step by step

4. Don't know what to do next with your taxes? I'll point you in the right direction

5. Want "Innocent Spouse Relief"? I'll tell you how to get it

See you tomorrow, let's ride!

Tuesday, April 13, 2010

IRS Payment Options- Pay on Time to Avoid IRS Penalties & Interest

The deadline approaches, Taxes must be paid to the IRS by April 15 if you want to avoid failure-to-pay penalties from the IRS. If you need an extension of time to file your taxes, you can request one. But remember, an extension of time to file is not an extension of time to pay your taxes.

Remember, Filing and Paying on time Saves Money

If you can't afford to pay the full amount you owe the IRS, file your return and pay as much as you can by April 15. Interest and failure-to-pay penalties are due only on the unpaid balance.

A Tip for Our Men in Uniform

Members of the military and some others currently serving in combat zones can wait until after April 15 to file and pay. Those eligible get the extra time penalty- and interest-free without having to ask for it. Normally, the filing and payment deadline is postponed until 180 days after the service member leaves the combat zone. Victims of recent natural disasters, listed on IRS.gov, also have extra time.

Paying by Mail

Taxpayers may also pay any taxes by check made out to the “United States Treasury.” Include Form 1040-V, Payment Voucher, along with the payment and tax return. If you have already submitted your tax return but still need to pay all or some of the balance, you may mail the check to the IRS with Form 1040-V.

Installment Agreements and Online Applications
If you can’t pay in full by April 15, consider applying for an installment agreement.

An installment agreement allows you to pay any remaining balance in monthly pieces. Attach Form 9465, Installment Agreement Request, to the front of your tax return to request this. You must show the amount of your proposed monthly payment and the date you intend to pay each month. The IRS charges $105 for setting up the agreement, or $52 if the payments are deducted directly from your bank account. Qualified lower-income taxpayers pay $43.

You will be required to pay interest plus a late payment penalty on the unpaid taxes for each month or partial month after the due date.

Offers in Compromise
This filing season the IRS has supposedly given its personnel additional flexibility on offers in compromise for struggling taxpayers. However, this is still the hardest "payment option" to qualify for with the IRS.

According to the IRS, their employees will be permitted to consider a taxpayer’s current income and potential for future income when deciding on an offer in compromise. The standard practice is to judge an offer amount on a taxpayer’s earnings in prior years. Try to take advantage of these news steps and see if you qualify to settle your tax Debt with an Offer in Compromise. But remember, nothing is ever easy when it comes to negotiating with the IRS.

Monday, April 12, 2010

Small Business Filing Tips: Start Right and Avoid Tax Debt

Starting a new summer business? Before you do anything else, you need to read up on your tax obligations. Nothing will ruin your Small Business' chances of survival more than an IRS issue. Here's the first steps a budding entrepreneur should take to avoid tax mishaps.

Step 1: Determine your Business Type
The type of business you choose will determine which tax forms you use. The five most common business types include:

- LLC
- Sole Proprietorship
- Partnership
- Corporation
- S Corporation

Step 2: Determine Your Business Tax Type
The type of business chosen also determines the taxes you'll encounter and how you'll pay them. Four general types of business tax are:

- income tax
- self-employment tax
- employment tax
- excise tax

Step 3: Get your ID Number
An EIN or Employer Identification Number is used to identify your business. You can apply for an EIN online on the IRS website.

Step 4: Keep Records
With few exceptions, the law does not require you to keep records for your business. This might be a calculated move on the IRS's part, because keeping accurate records is an almost guaranteed method for preventing IRS issues later in your operation! Records you need to keep vary from business type to business type, but some universal things to keep track of include:

- All expenses
- All receipts
- All income
- All invoices

You can keep records manually, with excel, or with accounting programs. Consider hiring an accountant if this all seems intimidating.

Step 5: Calendar or Fiscal Year
Every business taxpayer must figure their taxable income every "Tax Year," which is the annual accounting period of a business. The calendar year and the fiscal year are the most common tax years used.

- Calendar year
- Fiscal year

Step 6: Choose your Accounting Method
As a business you are required to report income and expenses to the IRS throughout the year. You have to choose a consistent accounting method for doing this. The two most commonly used methods are:

-Cash Method: you generally report income in the tax year you receive it and deduct expenses in the tax year you pay them.

-Accrual Method: you generally report income in the tax year you earn it and deduct expenses in the tax year you incur them.

The IRS does not require any courses on running a small businesses. You don't need to know anything about your tax obligations before you receive your Employer Identification Number. This is why so many small businesses are in huge trouble with the IRS. Use the Resources below to educate yourself and prevent problems before they happen.

Tax Resources for Small Businesses:


The A to Z Index for Business- Just like the title suggests, covers a variety of subjects relating to the IRS and Business.

The IRS Small Business Resources Guide, 2009 This guide covers everything, from starting up, to preparing Tax Returns.

Tax Changes for Businesses - Stay up-to-date on the various Small Business Changes with news directly from the IRS.

Economic Stimulus Payment Info Center for Business- Find information on the business provisions of the economic stimulus payments.

Get the 2009 Business Tax Calendar- This Calendar will help you make quarterly payroll payments and other important deposits on time.

E-File for Business and Self-Employed Taxpayers- This is for helping you find the E-filing option to suit your business needs.

State Taxes- Business tax required by the federal government are tough enough. But you also need to know about you State Tax obligations. This source provides access to key resources that will help you learn about your state tax obligations.

Specific Questions? And if none of the resources help, I'm always available to answer any specific questions you may have. Send me an e-mail at irs-hitman@taxdefensenetwork.com

Friday, April 9, 2010

IRS Hitman, Reality TV with a Bullet Arriving Full Throttle April 15, 2010



We've released the latest preview for the IRS Hitman Reality TV Show. It's arriving full throttle on April 15, 2010.  Until then, follow me on Facebook and Twitter to find out how to win the Free Ipad!

Thursday, April 8, 2010

Where's My Refund? The Hitman Has the Answers

Filed on time? If you're one of the 80% of Americans that file on time, you're already ahead of the game. But now you're haunted by lingering regret. You're asking yourself, "Did I sign it...did I take advantage of the right deductions...did I write my name in wrong...where's my return...what should do?" Don't fuss, the IRS won't throw you in prison over an honest mistake.

Where's my Refund?
You want your money and you want it now. Don't worry, you can actually go online to check on the status of your 2008 refund. You can do this 72 hours after the IRS acknowledges receipt of your e-filed return, which is usually 3 to 4 weeks after you mail a paper return.

In order to check on your return status you need your filing status, the first SSN shown on the return, and the exact whole-dollar amount of the refund.

Three Options for Checking on your Tax Return Status:
• Go to IRS.gov, and click on “Where’s My Refund.” Accessible here for now.
• Call 1-800-829-1954 during the hours shown in your form instructions.
• Call 1-800-829-4477 (24 hours) for automated refund information.

Quick Warning, Phishing Scams: The time is ripe for scammers to fool the unsuspecting. If you receive an e-mail from the "IRS" asking for personal information in exchange for your tax refund or information on it's status, that is NOT an e-mail from the IRS. Never give your personal information by e-mail.

HELP, I Made a Mistake!
Small blunders on your Tax return may delay your refund or result in IRS notices coming in your mail. But don't stress out, you can file an Amended Return. Use Form 1040X, Amended U.S. Individual Income Tax Return.


Wednesday, April 7, 2010

Step by Step Guide for Filing an IRS Extension

If you feel like you're running out of time, it's a good idea to File an IRS Extension of Time to File. Remember, the deadline is April 15th. It's right around the corner and it sneaks up on you fast. Don’t say I didn’t warn you!
Extension of Time to File, Step by Step Guide

Step One: Pull your head out the sand and get to work. There are more colorful ways to state this, but really, stop putting this off!

Step Two: File Form 4868 Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. (Available at IRS.gov)

Step Three: File this form by April 15, 2009. I’d recommend downloading the form and getting this out of the way NOW before your forget to do it later.

There you have it, three steps and it couldn’t be easier. But how do you know if you qualify? As always, I’ve got you covered:

Qualifying for an Extension of Time to File

To get extra time you must:

1. Properly estimate your 2008 tax liability using the information available to you
2. Enter your total tax liability on line 4 of Form 4868, and
3. File Form 4868 by the regular due date of your return.

Word of Caution: I’m not trying to mislead anyone. An Extension of time to File is not an Extension of Time to PAY taxes owed. No matter what, they’re due April 15th. If you do not pay on time you will be charged penalties and interest. Form 4868 does not extend the time to pay taxes.

If You Owe the IRS and you can’t pay by April 15th, I suggest getting in touch with a reputable tax professional or tax resolution company and discussing possible solutions. It’s vital to do this before you wind up with a huge debt on your hands.

Tuesday, April 6, 2010

Follow the IRS Hitman Reality Show Progress

One lucky blog reader could win an Ipad, but you have to follow me on one of my social networking accounts for updates.
 
My Facebook Fanpage will be updated videos and pictures of the IRS Hitman show progress. If you become a fan it's a completely interactive environment. You can ask me tax questions and I can give you the answers on the spot. You can use the Facebook Fanpage to make suggestions for the IRS Hitman Reality series or to apply as a guest on the show.

My Twitter page will post fast, up-to-the-minute and timely updates on the show progress in addition to tax news and information.

Expect more updates when we launch full throtle on April 15, 2010.

Monday, April 5, 2010

Who is the IRS Hitman? IPAD GIVEAWAY



As part of a promotion for my upcoming Reality Show, we're giving away a a Free Ipad to one lucky winner. I'll announce the details in the coming weeks. Until then, follow me on Facebook and Twitter to find out how to win the Free Ipad!

Friday, April 2, 2010

IRS Announces 2010 Tax Credit to Help Small Business Employers Provide Health Insurance

Yesterday the IRS Announced a new Tax Credit that will help many small business and tax-empty organizations that provide health insurance coverage for their employees. 

The Patient Protection and Affordable Care Act, a tax credit included in the health care reform legislation, is designed to encourage small employers to offer health insurance overage for the first time or maintain coverage they already have.

Patient Protection and Affordable Care Act, Tax Credit Facts:

- The maximum credit is 35% of the premiums paid by 2010 by eligible small business employers

- 25% of the premiums paid by eligible small business employers and 25% of premiums paid by eligible employers that are tax-exempt organizations.

-In 2014, the maximum credit increased to 50% of premiums paid by eligible small business employers and 35 percent of premiums paid by eligible employers that are tax-exempt organizations.

-The maximum credit goes to smaller employers — those with 10 or fewer FTEs — paying annual average wages of $25,000 or less.

-Eligible small businesses can claim the credit as part of the general business credit starting with the 2010 income tax return they file in 2011.

“This credit provides a real boost to eligible small businesses by helping them afford health coverage for their employees,” said IRS Commissioner Doug Shulman. “We urge small businesses and tax-exempt employers to look closely at this important tax break — which is already effective — to see if they qualify.”

Purpose: The credit is specifically targeted to help small businesses and tax-exempt organizations that  employ mostly low and moderate income workers. It is generally available to employers that have fewer than 25 full-time equivalent (FTE) employees paying wages averaging less than $50,000 per employee per year. Many businesses will qualify even if they employ more than 25 individual workers.

The IRS hasn't made all the details for the Tax Credit public yet, but I'll update you with the details when they do.

Thursday, April 1, 2010

Good News- They've Extended the Tax Filing Deadline

April Fools! Sorry, but taxes are still due by April 15! You MUST file and pay your taxes within the next 14 days. Sorry for the little April Fools gag, but there's no escaping your tax obligations. The Clock is ticking! Here's the drill...

Individuals: Form 1040, 1040A, or 1040EZ. Pay the first installment of 2009 estimated tax.

Partnerships: Form 1065 for 2008; give copy of Sch. K-1 to each partner.

Electing Large Partnerships: File a 2008 calendar year return.

For Household Employers: File Schedule H if you paid $1,500 or more to a household employee. Deadline to make corrective refunds in excess of prior year's elective deferral limit.

Corporations: Deposit the first installment of your estimated tax for 2009.

Small Business IRS Tip: Deposit Payroll tax for March if the monthly deposit rule applies. Deposit Payroll tax for payments on April 8-10 if the semiweekly deposit rule applies.

NEED HELP? It's Tax Time, and I'm working overtime. If you have any questions at all e-mail me, and I'll point you in the right direction.



Full Name*
Zip Code*
IRS Amount Owed*
Primary Phone*
--
Secondary Phone
--
Please Describe Your IRS Tax Problem


We Will Respond within 30 Minutes
During Business Hours