self employed: MAYOR OF TEXAS TOWN OWES $1.1 MILLION IN UNPAID TAXES TO IRS - 12/22/20 03:51 PM
David Turner said the seven-figure tax debt is due to a “mix-up” but wouldn’t elaborate.
 The mayor of Odessa, Texas, owes the IRS $1.1 million in unpaid payroll taxes, according to records obtained by the Odessa American newspaper.
 Mayor David Turner said the $1.1 million debt was due to a paperwork error that “has been taken care of.”
 “There was a mix-up, but we got it resolved,” Turner told the told the Odessa American. “My attorney is waiting for a receipt from the IRS. Due to COVID everything has been slowed down.”
 Turner declined to explain what type of “mix-up” caused the tax issue, … (1 comments)

self employed: CHICAGO LAWYER GETS 18 MONTHS IN TAX CASE - 12/22/20 03:11 PM
He admitted to helping another lawyer evade taxes on income from a tobacco company settlement.
 A former attorney in Illinois was sentenced to 18 months in federal prison for assisting another lawyer in evading taxes on income received from a multibillion-dollar legal settlement with tobacco companies.
Edward R. Vrdolyak, 82, of Chicago, pleaded guilty to one count of tax evasion. Vrdolyak admitted in a plea agreement that he assisted another lawyer, Daniel P. Soso, in evading federal income taxes on income from a $9.2 billion settlement between the State of Illinois and a number of tobacco companies in the 1990s. At the time … (1 comments)

self employed: A New York City restaurateur sentenced to prison for tax evasion - 12/13/20 06:35 PM
Adel Kellel, 63, of New Hyde Park, New York, the owner of Raffles Bistro, formerly a restaurant located in New York City, was sentenced to 24 months in prison for tax evasion.
According to the allegations contained in the information to which Kellel pled guilty, documents filed in court, and statements made in court:
From 2011 to 2015, Kellel filed false personal returns and corporate returns for K&H, and evaded his taxes by diverting and failing to report substantial gross receipts to the IRS.
For example, as part of his tax evasion scheme, Kellel diverted over 150 hotel checks, totaling over $2.1 million or … (2 comments)

self employed: How to settle tax debt? - 12/13/20 06:26 PM
If someone is struggling financially and paying the IRS would cause them significant hardship, they may be able to temporarily delay the collection process by applying for currently not collectible status. When the IRS accepts their request, it will stop all collection activity until the taxpayer’s situation improves. However, this does not stop the clock on penalties and interest and they will continue to accrue until the debt is paid off.
The second option is offer in comprise. Under this program the taxpayer can negotiate the entire debt including penalties and interest with the IRS. A taxpayer may qualify if only is … (0 comments)

self employed: What does the IRS consider when negotiating the tax debt? - 12/11/20 07:56 AM
There are a couple of things taxpayers need to know. In order to negotiate a tax debt with the IRS, a taxpayer needs to be in compliance. That is all legally required tax returns must be filed and taxpayer must be up to date with the current year tax payments. That means taxes must be properly withheld on your pay checks if you are an employee, quarterly estimated taxes must be timely paid if you are self-employed and payroll tax deposits must be made if you are a business.
The other thing is, the IRS looks at the taxpayer’s ability to … (0 comments)

self employed: Interview on Networking Arizona Radio show, KFNX 1100AM - 12/10/20 01:24 PM
I was interviewed on December 8, 2020 by Networking Arizona  Radio Show host Carol Blonder on KFNX 1100AM. I had a great time sharing my insights on how we, at Tax Relief Central, can help taxpayers reduce their  IRS debt  and help protect Taxpayer rights!
Have a listen to this!

self employed: Alabama salesman sentenced to prison for tax evasion - 12/03/20 03:16 PM
A Hoover, Alabama, salesman was sentenced to 24 months in prison on October 28, 2020 for tax evasion.
According to court documents and statements made in court, Ivan Scott "Scott" Butler was an automobile industry consultant and sold automobile warranties as an independent salesman. In 1993, Butler stopped filing tax returns and attended tax defier meetings and purchased tax defier materials. Starting in 1998, Butler used several Nevada nominee corporations to receive his income and conceal it from the IRS. In or around 1999, Butler moved hundreds of thousands of dollars to bank accounts in Switzerland and hid his assets in offshore … (2 comments)

self employed: High income non-filers may end up in Criminal Investigation Division - 12/03/20 03:04 PM
In the latest IRS executive column "A Closer Look", Eric Hylton, Commissioner, Small Business Self-Employed explained that taxpayers who exercise their best efforts to file their tax returns and pay their taxes, or enter into agreements to pay their taxes, deserve to know that the IRS is pursuing others who have failed to satisfy their filing and payment obligations.
He added that in Small Business/Self Employed organization, IRS has hired more revenue officers  who are IRS's very own civil enforcement officers and prioritized the most egregious non-filer cases so they can reach out to non-responsive taxpayers directly. Some of the high income … (0 comments)

self employed: Construction Company Owner Pleads Guilty To Employment Tax Fraud - 11/11/20 12:41 PM
On October 5, 2020 a Great Falls, Montana, businessman pleaded guilty to employment tax fraud.
According to court documents and statements made in court, Trennis Baer owned and operated Baer Construction based in Great Falls, Montana. Beginning in 2010 and continuing through 2018, Baer did not file quarterly employment tax returns, nor did he pay employment taxes withheld from his employees’ wages to the IRS. Baer did not meet these legal requirements, despite the fact the company’s outside accountant from at least 2013 on prepared the appropriate employment tax returns and calculated the employment taxes due. In addition to not complying with … (0 comments)

self employed: Offer in Compromise - 10/02/20 06:19 PM
An Offer-in-Compromise is an agreement where the IRS agrees to accept less than the total amount owed to it and the taxpayer agrees to pay the amount negotiated, as well as maintain his or her tax compliance for 5 years following the acceptance of the Offer-in-Compromise (“Offer”).
The basis for an Offer is a formula referred to as “Reasonable Collection Potential” or “RCP.” RCP is effectively the net equity in assets plus the taxpayer’s excess future income for 12 or 24 months, depending upon how the Offer is structured. There can be significant planning done to help a taxpayer maximize the potential … (2 comments)

self employed: IRS Installment Agreement news alert! - 09/27/20 07:00 PM
Revisit the amount of money you owe on your installment agreement with the IRS!  The IRS has recently released new payment guidelines that may provide you the opportunity to lower your payment, settle you debt for less than the full amount owed, or make it so you do not have to repay your debt at this time.  Further, if your economic circumstances have been changed due to the COVID-19 epidemic, you may be entitled to relief from your tax debts. 
At this difficult time, you may have the ability to reduce your obligations to the IRS.  If you are interested in taking … (0 comments)

self employed: What is Tax Compliance & Why is it important? - 05/31/20 12:37 PM
In short it means all tax returns have been filed and tax has been paid timely. In general, a taxpayer needs to take the following steps to get into tax compliance:
file all tax returns due on time if you are an employee, sufficient taxes need to be withheld to cover your tax bill if you are self-employed, estimated tax payments need to be made each quarter as required if you are a business, payroll taxes need to be deposited on time for each period all future tax returns that are due must be filed in a timely manner Self employed … (1 comments)

Vani Murthy, CPA, IRS Problem Resolution (Tax Relief Central)

Vani Murthy, CPA

IRS Problem Resolution

Mesa, AZ

More about me…

Tax Relief Central

Address: 3707 E SOUTHERN AVE, MESA, AZ, 85206

Office: (602) 904-6535

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