Frequently Asked Questions
What Your Accountant And The IRS Never Told You! How to Participate In The Great IRS Give Away Program
This Special Report Reveals Little Known Secrets On The Most Amazing and Powerful Program Offered By The IRS.
Millions of U.S. citizens find themselves at odds with the IRS. In fact over $300,000,000,000 (that’s 300 Billion Dollars) is owed to the IRS in taxes, penalties and interest.
Do they really think they’re going to collect this money? Personally I don’t think so! They know that many people simply don’t have the money to pay these old tax liabilities. But have they given up trying? Of course not!
Will the IRS just roll over and play dead on these old tax liabilities? Never! It would ruin their reputation. They would lose all credibility to collect current taxes. It would cause the entire tax system to break down. It might even cause the U.S. Government to cease to exist.
So it’s fair to say,” the IRS will not stop trying to collect from taxpayers who owe old taxes!” But how are they going to collect old taxes from the taxpayers that just can’t pay? We know they won’t declare amnesty, so they’ll have to do something else.
Well, quietly the IRS has been trying to solve this problem of collecting old taxes from taxpayers that simply don’t have what they owe. What they have been doing may surprise you! In fact, it shocks most taxpayers.
The IRS Has Been Making Deals! Deals so good you may not even believe the amounts.
What would you say if I told you that the IRS has been accepting on average 13.5 cents on the dollar as complete settlement? I mean complete! They are making deals where the total of your taxes, penalties and interest owed to the IRS are completely wiped out. For only a fraction of what you owe!
Let’s talk about this IRS deal program and what it’s called. The IRS program is called OFFER IN COMPROMISE.
How You Can Stop The Emotional Suffering That Every IRS Problem Creates For You And Your Family.
How Does the IRS Expect You to Pay Off Your Taxes If They Keep Adding Penalties?
What Do They Expect You To Do With Federal Tax Liens on Your Credit Report?
Taxpayers With IRS Problems Are Always Looking Over Their Shoulder For The IRS!
If you own any type of small business and have IRS Payroll Tax troubles you are in danger of losing your business
You see the IRS really doesn’t care if you and your employees are out on the street. In fact, it makes their job easier! Less paperwork!
It seems wrong, because it is! Nobody should have the right to just walk in and close you down… but the IRS does!
Well, from what I’ve seen the IRS doesn’t lay off. What they usually do to small business owners is liquidate all of their business assets and then come after them personally.
What is going in these initial contacts is that the IRS is sizing you up. To see how much money they can shake out of you before you know what hit you. Believe me, they don’t care that your receivables or current cash is already spoken for, they want it all, and they want it now!
Don’t wait until the IRS is standing at the front door
Avoid Losing Your Home and Your Real Estate Practice Over Little IRS Problems That Grow Quickly.
Running a successful real estate practice is tough! Many people think all realtors are on easy street and the money just flows in like a dam with a huge hole in it. They have no idea of the stress most realtors operate under.
The amount of time involved in successfully running your real estate practice is overwhelming.Constantly being on call to handle a client’s every wish and demand can be exhausting. Keeping all your deals together right up until closing requires the patience of a saint. Most people, and especially IRS employees, will never understand all the little details that you attend to on a daily basis just to make a decent living in your real estate practice.
In addition to keeping your current transactions on track and closing them, you have to constantly be looking for the next listing or buyer to keep your cash flow on track. With all these other objectives to consider it’s easy to forget about the IRS and taxes as you struggle and strive to be successful in your real estate practice.
The IRS knows that every realtor who files a Schedule C with his or her tax return is now a candidate for a lucrative audit from the IRS point of view. Your odds of being audited are extremely high just because you have reported your income and expenses on Schedule C.
Most realtors file tax returns with a Schedule C attached just like all the other self-employed people, which substantially increases their risk of being audited. Assuming of course that you have filed your tax returns in the first place.
Let me share with you five strategic secrets regarding how to end IRS problems:
Avoid IRS problems by not getting into them in the first place. Sounds simple, but how? When it comes to filing your income tax returns, you MUST file on time each year regardless of whether or not you can pay the taxes due. No exceptions! Even if you have not made any estimated tax payments. Like the sneaker commercial says “Just Do It!”
Consider incorporating your real estate practice and stop filing a Schedule C. Why would anyone want to file a tax return that was 6-7 times more likely to be audited than all the other taxpayers? If you incorporate yourself then all your real estate commissions would be paid to your corporation.
Make some estimated tax payments. Even if you can’t pay the amount you know is due, at least pay something. Sure, you may be liable for a penalty for underpaying, but it’s insignificant as compared to completely missing the estimated tax payment.
Instead of trying to deal with the estimated tax payment schedule, you should send them one every month. Even if you had the money to make your estimated payments on time, the oddball dates make it difficult to remember when they are due and for how much.
Just take last year’s tax liability (assuming you filed last year) and divide the total tax liability by 12 months and pay in that much each month. If you have some IRS 1040 ES Forms, copy them and make some extras so you can stick one in the envelope you mail to the IRS each month with your estimated payment check.
If you find yourself not filing or not paying or both, call a professional for help or at least a consultation. Realtors who try to solve their own IRS problems are just like FSBOS. There are some things in life that you can’t practice for, and dealing with the IRS is one of them.
You Can Avoid The Nasty IRS Techniques Used To Abuse Contractors and Collect Taxes!
The IRS has absolutely no idea of the constant stress you are under. And if they did they wouldn’t even care!
This is where the nasty part of the IRS comes in
This is where the nasty part of the IRS comes in. If you wait for them to get to you, then you’ll be operating at a severe disadvantage. Like fighting Mike Tyson with one hand tied behind your back.
It’s easy to find yourself in this position. If you relate to all this, the rest of the information in this report will be of the utmost importance to you, your business and your family.
There is so much bad information out there about what the IRS does and does not do. You don’t know what to believe and what applies to you. Once someone gives you the straight and narrow, you’ll have all the information you need to avoid the nasty things the IRS can do to you, your business, and family.
Let’s look at the most common ways contractors get into IRS trouble and how you can avoid them.
I seriously think it’s a tossup regarding which is more common, not filing or not paying.
The reality is that both of these IRS problems are often found together. Just like where there is smoke there is fire.
Not paying estimated taxes is an easy way to start your IRS problems. The dates the quarterly estimated tax payments are due: April 15th, June 15th, September 15th, and January 15th make no sense.
These dates are not the end of quarters and some of the due dates are only 60 days apart. What’s up with this? No wonder contractors are confused as to making estimated payments!
If you can remember the quarterly estimated tax due dates you’re in the minority. Another confusing IRS calculation that often causes contractors to skip their estimated payment is how are you supposed to know how much to pay.