Personal Health Records

Not Alone: IRS Goes After 60 Health Care Providers Thursday, December 17th, 2009 While President Obama is optimistic about the passage of the Health Care Bill which is set to provide some 30 million Americans currently without Health insurance affordable coverage without raising the federal deficit, the IRS is under scrutiny for its tax collection efforts from 60 Health care providers who owe large sums of unpaid back taxes . The latest news involves the Senate Finance Committee holding the IRS accountable for deficient tax collection from Health care providers. This shows just how no one is safe from IRS’ grasp. The current tax

W-2 will Be Affected by New Health Care Law Friday, July 16th, 2010 I got an interesting email recently regarding the new Health care law (see below for full email message) . The email FALSELY claims that the new legislation would require workers to pay income tax on the value of employer-provided Health insurance. This is simply not the case. It’s true that the value of employer-paid Health insurance will be added to employees’ W-2 forms for information purposes, however, contrary to this widely circulating chain e-mail, it definitely will be considered taxable income. There’s a great article on Snopes.com that talks

using the Swiss banks whose records many considered impenetrable by the U.S. government, are now at risk of total exposure and prosecution by the IRS and the Department of Justice. While the news is certainly surprising, it isn’t shocking. For several years, the IRS has been moving more and more aggressively toward tax cheats who use offshore accounts to hide their assets. Many tax cheats once used offshore accounts linked to credit cards that then were employed to purchase goods and services in the United States — seemingly a way of keeping money off the IRS’s books. That, of course, stopped working once the IRS forced MasterCard to turn over

differ substantially from a personal one. Therefore, it is the most prudent to first understand your personal tax situation before seeking a the appropriate tax attorney’s help. Here are a few questions to ask yourself in order to fully understand the type of tax representation you will need: * Are you looking at personal income tax issues (you are an innocent spouse or a victim of tax fraud), business tax problems (such as unpaid payroll taxes, sales taxes), estate taxes, foundation or charity tax issues? * Are you dealing with just federal or state taxes too? * Do you have tax problems in multiple states or jurisdictions? * Does the IRS

fact disbursements for his personal benefit. Among these disbursements were checks deposited into a nominee bank account French controlled. As a result of the overstatement of costs, the corporate returns also understated the corporation’s income, which was reportable on French’s personal returns as distributive income. French attempted to evade his personal income taxes for 2002 and 2003 by filing false tax returns on which he understated his income and tax liabilities by reporting his falsely understated business income. If you find that you’ve had an IRS tax lien filed against you, you will need professional tax help to resolve this tax

are asking for all corporate records, bank statements, copies of leases, etc etc. My tax representative informed me that as my offer is related to personal taxes, and not my business, that this request is both invalid and irrelevant and in fact I don’t have to provide this. I’d be curious to know what you think… Answer: The IRS, during its investigation of the taxpayer’s Offer in Compromise, can and will ask the taxpayer to disclose any and all assets and income. A corporation that is owned by the taxpayer is a personal asset and is included in determining Reasonable Collection Potential and how much of an asset it is.  This is

differ substantially from a personal one. Therefore, it is the most prudent to first understand your personal tax situation before seeking a the appropriate tax attorney’s help. Here are a few questions to ask yourself in order to fully understand the type of tax representation you will need: * Are you looking at personal income tax issues (you are an innocent spouse or a victim of tax fraud), business tax problems (such as unpaid payroll taxes, sales taxes), estate taxes, foundation or charity tax issues? * Are you dealing with just federal or state taxes too? * Do you have tax problems in multiple states or jurisdictions? * Does the IRS

Tax Refunds to Enforce Health Insurance Mandate Tuesday, April 27th, 2010 Under the new Health care mandate, the IRS has authority to withhold a portion of your federal tax return if you can’t demonstrate that you have Health insurance coverage. Starting in 2014, penalties for lacking qualifying coverage will range from $695 to 2.5% of your household income, whichever is greater. According to a recent Fox Business article, Steven T. Miller, IRS Deputy Commissioner for Services and Enforcement, commented that the IRS can reduce a tax refund to collect the penalty. The article titled “IRS May Withhold Tax Refunds To

revenue measures for health care reform during meetings in the week beginning May 18. As the committee explored ways to pay for health care reform, including modifying the current unlimited exclusion for employer-based health insurance, White House Press Secretary Robert Gibbs maintained it is possible to make “sustainable progress in cutting the cost of health care without raising taxes.” He noted that President Obama opposed taxing employer-provided health insurance during the presidential campaign. Gibbs said that the president wants to preserve the employer-based health care system but in a way that “envisions significant

individuals into revealing personal financial information that can be used to access their financial accounts by making promises relating to the economic stimulus payment, often called a “rebate.”  To obtain the payment, eligible individuals in most cases will not have to do anything more than file a 2007 federal tax return.   But some criminals posing as IRS representatives are trying to trick taxpayers into revealing their personal financial information by falsely telling them they must provide information to get a payment.  For instance, a potential victim is told by phone or e-mail that he or she is eligible for a rebate but must provide a