Posts Tagged ‘federal’
Federal Tax Lien 941 on Business?
Hi..I work in a small business, have been there several years. Family owned, nice people. Seem on the up and up, honest and all that.
The last few years have been tough for the business, and a check of the county records show a fed tax lien, code 941, for failure to pay payroll taxes, for the last 3 quarters. It appears he owes about 30 grand.
What happens next?
No one has said anything at work..Im sure he’s worried, he also has unpaid property taxes…we are being paid still, and there is business,but obviously, not enough money is coming in.
Can this lien turn into a levy? At what point, would the IRS say, enough is enough?
Im just curious as to what to expect if he is unable to pay. Would
the IRS really come in and shut everything down?
Any info would be greatly appreciated!
Thanks!
Thank you people for some very valuable answers…I’m sure he is stuck. Im just clerk reporting to work everyday…and I did wonder if he was paying the irs the most recent payroll taxes…so, I suppose it’s a snowball effect. Thanks again for taking the time to tell me the truth!
How can I find out if there is a federal tax lien on my automobile?
I have the title and I am the only one listed on it. However, there was a federal tax lien filed about a month ago. How do I find out if the lien affects my car? I do not have any other assets.
Automobile, federal, Find, Lien, ThereBernanke testifying to crisis inquiry panel (AP)
AP – Federal Reserve Chairman Ben Bernanke is set to appear before a panel investigating the financial crisis to give his take on the meltdown and his views on potential systemwide risks posed by large financial institutions.
See original here:
Bernanke testifying to crisis inquiry panel
(AP)
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Determining the Federal Excise Tax on SBC/ATT Invoices?
I have been able to determine the Federal Excise Tax on my past Sprint, MCI, and Cingular bills but I am not quite sure about my past SBC/ATT bills since they do not use the word Excise on the bill.
Now before anyone tells me to take the standard credit or starts copying and pasting from the IRS website, let me save you the trouble. With the 3 carriers listed above, I am already well above the standard credit (not to mention you cannot claim interest on the standard credit) and have read the IRS’s “Telephone Tax Refund Questions and Answers” document thoroughly. I know the time frame allowed, I know that the Excise tax has to apply to Long Distance charges (unless it is a bundled service where the tax is not broken a part for local and long distance). There is a portion of the IRS document that says to look for phrases such as Federal, Federal Excise 3%, Federal Excise @ 3%, Federal Excise Tax, Federal Tax, Fed Excise Tax, and FET.
On my earlier bills (2003), the taxes are not broken apart by Local/Long Distance and under the taxes section there is an entry “Federal at 3%”. On my newer bills (Early 2006), the Local/Long Distance are broken apart and under Long Distance, there is an entry for taxes that simply says Federal. Am I correct in assuming that these are the values I should be using? I called ATT support but they were of no help. They tried pointing me back to the IRS’s website in which I told them I understood the rebate, but not how they list the Excise tax on the bill. They tried to claim that if the word Excise was not on my bill, I was not charged Excise tax. I am not sure I buy that. Anyone have any insight? Preferably someone with experience that is knowledgable with SBC/ATT bill layout?
Determining the Federal Excise Tax on SBC/ATT Invoices?
I have been able to determine the Federal Excise Tax on my past Sprint, MCI, and Cingular bills but I am not quite sure about my past SBC/ATT bills since they do not use the word Excise on the bill.
Now before anyone tells me to take the standard credit or starts copying and pasting from the IRS website, let me save you the trouble. With the 3 carriers listed above, I am already well above the standard credit (not to mention you cannot claim interest on the standard credit) and have read the IRS’s “Telephone Tax Refund Questions and Answers” document thoroughly. I know the time frame allowed, I know that the Excise tax has to apply to Long Distance charges (unless it is a bundled service where the tax is not broken a part for local and long distance). There is a portion of the IRS document that says to look for phrases such as Federal, Federal Excise 3%, Federal Excise @ 3%, Federal Excise Tax, Federal Tax, Fed Excise Tax, and FET.
On my earlier bills (2003), the taxes are not broken apart by Local/Long Distance and under the taxes section there is an entry “Federal at 3%”. On my newer bills (Early 2006), the Local/Long Distance are broken apart and under Long Distance, there is an entry for taxes that simply says Federal. Am I correct in assuming that these are the values I should be using? I called ATT support but they were of no help. They tried pointing me back to the IRS’s website in which I told them I understood the rebate, but not how they list the Excise tax on the bill. They tried to claim that if the word Excise was not on my bill, I was not charged Excise tax. I am not sure I buy that. Anyone have any insight? Preferably someone with experience that is knowledgable with SBC/ATT bill layout?
Determining the Federal Excise Tax on SBC/ATT Invoices?
I have been able to determine the Federal Excise Tax on my past Sprint, MCI, and Cingular bills but I am not quite sure about my past SBC/ATT bills since they do not use the word Excise on the bill.
Now before anyone tells me to take the standard credit or starts copying and pasting from the IRS website, let me save you the trouble. With the 3 carriers listed above, I am already well above the standard credit (not to mention you cannot claim interest on the standard credit) and have read the IRS’s “Telephone Tax Refund Questions and Answers” document thoroughly. I know the time frame allowed, I know that the Excise tax has to apply to Long Distance charges (unless it is a bundled service where the tax is not broken a part for local and long distance). There is a portion of the IRS document that says to look for phrases such as Federal, Federal Excise 3%, Federal Excise @ 3%, Federal Excise Tax, Federal Tax, Fed Excise Tax, and FET.
On my earlier bills (2003), the taxes are not broken apart by Local/Long Distance and under the taxes section there is an entry “Federal at 3%”. On my newer bills (Early 2006), the Local/Long Distance are broken apart and under Long Distance, there is an entry for taxes that simply says Federal. Am I correct in assuming that these are the values I should be using? I called ATT support but they were of no help. They tried pointing me back to the IRS’s website in which I told them I understood the rebate, but not how they list the Excise tax on the bill. They tried to claim that if the word Excise was not on my bill, I was not charged Excise tax. I am not sure I buy that. Anyone have any insight? Preferably someone with experience that is knowledgable with SBC/ATT bill layout?
Mexicans hope drug lord’s arrest may turn tide (Reuters)
Reuters – Mexico paraded one of its most violent drug lords on Tuesday after a police raid that President Felipe Calderon’s government hopes will mark a breakthrough in its campaign against powerful cartels.
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Mexicans hope drug lord’s arrest may turn tide
(Reuters)
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FDA looks to curb abuse of cough medicine (AP)
AP – Federal health regulators are weighing restrictions on Robitussin, NyQuil and other cough suppressants to curb cases of abuse that send thousands of people to the hospital each year.
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FDA looks to curb abuse of cough medicine
(AP)
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I want to start a mponey market account with my bank (Navy Federal) what is a money market account?
How will it benefit me if I start one?
Florida: Preparing for the New Federal Estate Tax
wfplaw.com In 2010, the dreaded death tax was replaced by a capital gains tax in an attempt to get more money from owners of real property and stocks with very low cost basis. In 2011, the estate tax will return with a vengeance. The level at which all estates will be taxed at will be a measly 1 million dollars. A million dollars may sound like a large amount of money but it is really quite small when you consider that it includes life insurance proceeds, the value of your home, stocks, bank accounts, retirement accounts, jewelry, paintings, and anything else that you may have had titled in your name at the time you died. After all of your assets are probated and given a fair market value dollar amount, your family will be taxed at 55 percent for everything over the first million. That means that they will be forced to pay 55 cents to the government for every dollar you left to them. This tax has bankrupted families. When Joe Robbie died, he left the Miami Dolphins and the stadium they played in (formerly known as Joe Robbie Stadium) to his children. He did not have a trust in place at the time he died. Since he owned all of his assets in his own name at death, the team and the stadium were probated and nine months after his death, his children were handed a $50 million tax bill. Almost all of Joe Robbies net worth was in the team and the stadium so the kids couldnt come up with the cash. The government had no interest in being a partner in a football team so the Robbie …
federaL student Loan consoLidation caLcuLator
The amount up to $10000 can be suitable for many purposes such as car purchasing, home remodeling, paying education, wedding, setting up any new business, combing multiple debts and so on. Out of the blue, your business will be collapsed then the main question crops up in your mind how to execute the mischief of business break down. In that situation, $10000 signature loan fast no questions is proved a great boon to get you out from any serious situation especially business collapse. Deriving this loan you have no questions of pledging assets, displaying credit history, faxing foremost manuscripts. But for providing $10000 signature loan fast no questions, lenders have got quick and easy mode of providing cash. Lenders need only your signature on the signed activation letter. This kind of process carries you to meet the amount up to $10000. This amount is provided you on the basis of unsecured loans. Thats why the repayment period of this loan is varied from 6 months to 7 years. The rate of interest is slightly higher than secured loans to cover the risk factor. No quota of your security as home, jewelry, land, bank account, etc is necessitated for this kind of loan. Therefore, borrowers who are fear to lose their valuable property in the loan security; they can also apply for $10000 signature loan fast no questions and can get cash in no time. Borrowers with bad credit history can also entertain the benefits of this loan to enhance their low credit scores. If such …
federaL student Loan consoLidation companies
If you’ve ever applied for a loan from a bank you know it can be a very long process. Banks have to practice solid investing. The world of personal cash loans is a bit different. A payday advance is a helpful tool when used the right way. One significant incentive to a paycheck advance is that bad credit history doesn’t matter. Past credit problems usually don’t count against you. The majority of lending companies have the same general guidelines to qualify. Other benefits include minimal paperwork and quick turnaround. Because there are no credit checks, however, the lending company considers this a high-risk loan. As steep as the danger is for the lender, the reward for the borrower is just as high. There is little negative that could be said if you take a payday loan responsibly. The most essential rule is to pay back your loan at the proper time. This is a good practice for any loan, but it is even more important for cash advance loans. There are very stiff penalties for late repayments. If you have bad credit or are already in financial hot water, you certainly don’t want to compound your problems by adding more debt. To avoid trouble, you want to be sure you repay the loan in full on the due date. Some companies may even allow you to repay ahead of schedule. Another tip is to be conservative with the amount of money you borrow. For most borrowers the max loan amount is $1500. Consider carefully how much money you can afford to borrow and pay back. When an emergency …
In reference to a Federal Tax Lien, is my business considered an asset?
I have just started my own business and have received notification that I have a Federal Tax Lien filed against me for my person taxes. Is my business considered property or an asset that the IRS can attach to satisfy the lien? My business is an LLC.
What is the role of the Federal Government in alcohol abuse treatment? or Substance abuse Treatment?
I need some topics or suggest that I can talk about in my essay
Can I use a federal or private student loan to cover my living expenses?
Can I use my private student loan to pay for my apartment’s rent/utilities/and my other personal living expenses? My parents have agreed to pay for all of my college expenses, but they said I will have to find a way to pay for my apartment and living expenses. Is this doable? If so, do federal student loans and/or private student loans cover these costs? By the way…the apartment is not affiliated with the university…so the apartment doesn’t count as “room & board” does it? Please help me!
Federal Loan Modification California-based $2,999 retainer?
I am considering giving 2,999 dollars to federal loan modification program (based in Cali) to help me negotiate with my lender.
1. Is this a good company?
2. How much will they help?
3. They have said that they have a 99% success rate in helping people lower theire mortgage payments. Is this true?
4. What if they take my money even if they do not help??
5. Can you recommend any other company?
Thank you
Fed policy on right course, economists say (Reuters)
Reuters – Most economists in a recent survey said they approved of the Federal Reserve’s current course on monetary policy and see deflation as a risk for the short term.
See the rest here:
Fed policy on right course, economists say
(Reuters)
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Fed policy on right course, economists say (Reuters)
Reuters – Most economists in a recent survey said they approved of the Federal Reserve’s current course on monetary policy and see deflation as a risk for the short term.
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Fed policy on right course, economists say
(Reuters)
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How do I file an offer in compromise for both federal and state taxes?
I am disabled and unable to make full payment on past due taxes owed to the IRS and state of California Franchise Tax Board. I am somewhat familiar with the IRS rules for allowable monthly expenses used to determine the offer amount. Based on the allowable expenses (local standards) on the IRS website, I have about $90 per month beyond what they claim that I need in my area. What confuses me is what I should do if filing both state and federal offers. Will the IRS and state both want 100% of my disposable income or can I split the offer 50/50 between the two?
How many years is a federal tax lien valid?
Does anyone know if an IRS tax lien filed 10 years ago is still valid, and if not, how to expunge it?
Since the Federal Reserve Notes are evidence of debt how is it possible to be free of debt?
And if the Federal Reserve is all notes evident of debt,and all they have are debts,how do they operate? And what is their collateral?
With the Federal Interest rates so low can I refinance into a lower fixed rate with not so good credit?
I bought my first home from my parents about 2 years ago. The loan at the time was 8%. With the federal interest rates so low is it possible to refinance my fixed rate loan to a lower interest rate with not so good credit. I have a few lates on my mortgage along with an apartment eviction this year and collection accounts. Am I doomed to fail?
With the Federal Interest rates so low can I refinance into a lower fixed rate with not so good credit?
I bought my first home from my parents about 2 years ago. The loan at the time was 8%. With the federal interest rates so low is it possible to refinance my fixed rate loan to a lower interest rate with not so good credit. I have a few lates on my mortgage along with an apartment eviction this year and collection accounts. Am I doomed to fail?
Federal Sentencing : A Good Departure IS Hard TO Beat
The central purpose for the enactment of the United States Sentencing Guidelines was to obtain uniformity in sentencing on a national level. While the Guidelines were intended to eliminate Judge’s personalities and personal proclivities as well as eliminate disparities in regions or districts, the simple fact of the matter is that there are some districts in which downward departures are the rule and other districts where downward departures are either the exception or just never done. Even within districts, the guidelines have done nothing to address the disparity among different judges with regard to their views of downward departures in similar cases. In addition, federal prosecutors are including in written plea agreements a stipulation that no additional downward departure beyond those concessions or agreements contained in the written plea agreement can be sought by the Defendant in what is an obvious effort to eliminate what has certainly become a very fruitful area for creative lawyering in federal sentencing proceedings.
In an effort to put together a meaningful presentation for this seminar, I sought out success stories from my partners and colleagues (Miami criminal defense lawyers), both in the Southern District of Florida, my home court, and from around the country. While the grounds for downward departure are limited only by one’s imagination, here are some departure ideas that have worked successfully and which you might apply in your federal cases in which your client is facing sentencing pursuant to the United States Sentencing Guidelines.
I. Extraordinary post offense rehabilitation.
Unquestionably, the heartland criminal case in federal court is a case in which the arrest and prosecution of the defendant follows very shortly after the offense conduct. There are, however, many federal criminal prosecutions that are not initiated, often times, until the eve of the running of the statute of limitations. In those circumstances, pose the question: What has the defendant done with his or her life subsequent to the offense conduct but prior to the prosecution being initiated?
In United States of America vs. Alexander Chiong, United States District Court for the Middle District of Florida, Tampa, Division, Judge Moody, the defendant was indicted in a significant cocaine distribution case. The Indictment was returned four years and eleven months after the last distribution. There was almost an additional full year before the Defendant came before the Court for resolution of those charges. The amount of cocaine exceeded 150 kilograms (in fact, the government alleges 1,500 kilograms) and the plea agreement provided for stipulations regarding the amount of cocaine, acceptance of responsibility, role in the offense and an agreement that no downward departures pursuant to Chapter 2 of the Sentencing Guidelines would be permitted. In the roughly five years that had transpired since the offense, there was no evidence that the defendant had continued in the drug trade; the defendant worked at extremely laborious jobs in order to provide modest support for his family including lawn maintenance (pushing a lawnmower), pressure cleaning of homes and businesses and auto detailing. In addition, the defendant coached soccer, football and baseball teams that his children were involved in at local parks resulting in the usual plaques and certificates of appreciation given out by the local optimist club, etc. The motion for downward departure was based upon the defendant’s claim that his post offense conduct took the case outside of the heartland of federal drug prosecutions and warranted a downward departure based upon this “extraordinary post offense conduct.” The pre-sentence investigation report accurately concluded that the adjusted offense level required a sentence between 135 and 157 months. The court was persuaded that the defendant was not all bad as the government had alleged and that his post offense conduct warranted a four level downward departure resulting in a 97 month sentence.
What tax liens can be placed on your State and Federal returns?
I know IRS and Child Support can be intercepted, are there any others that can be levied against your tax returns?
what pays the interest the federal reserve puts on all the money it loans?
I hear the fed puts interest on all the money it loans. Which is basically all the money in the entire country, therefore a perpetual debt that is impossible to pay off.
I hear ALL of our income tax goes straight to paying off the interest (debt) generated by the fed. I also hear our income tax gets divied up amongst certain programs. Can it be possible both are true at the same time?
If the government has to pay for programs, uses our income taxes for it….what pays back the interest levied on the money loaned out by the fed to begin with? They could just SAY it goes to certain programs, which it might, but the end result is that it ends up being the same amount that is going back to the fed to pay off the interest. Such as if in reality you owe Johnny (the fed) 1$, but you pay Uncle Sammy (IRS) 1$ so he can pay it to Johnny’s interest for borrowing 2.85$ on something (all programs claimed to be paid directly by income tax) that’s already been paid for through other taxes.
How long to receive money market account after death of federal employee?
Claim forms and death certificate were sent 12 days ago,was told I would get a checkbook for MMA in mail that my mom set up for me and my siblings.It took 7 weeks just to get the claim forms(they told us it was 3-4 weeks to get the forms) and now the funeral people want their money(mom passed away in june) and my medical problems are getting worse.
Cheapest Home Owner Loan & Bad Credit College Financing and Federal College Loan Payday Loans
Some OF The Loans We Offer PERSONAL LOANS Unsecured Personal Loan – Supreme Advances can help make your dreams a reality with an unsecured personal loan. Whether your plans include a vacation, a major purchase, school or consolidating your bills into one, simple monthly payment – we can…
what corp. has the best student federal loan consolidation plan?
i am looking to consolidate my student loans, none are private and unfortunately i am yrs behind in this and my balance has increased a lot. any suggestions ???
Clemens arraignment set for Monday (AP)
AP – Officials at the federal courthouse in Washington, D.C., say that seven-time Cy Young winner Roger Clemens will be arraigned on Monday afternoon on criminal charges.
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Clemens arraignment set for Monday
(AP)
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Clemens arraignment set for Monday (AP)
AP – Officials at the federal courthouse in Washington, D.C., say that seven-time Cy Young winner Roger Clemens will be arraigned on Monday afternoon on criminal charges.
See the article here:
Clemens arraignment set for Monday
(AP)
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does a federal tax lien take priority on fully disbursed secured loan?
bank gave 2 secured loans in 2005 to company A. One was 1 million used to buy equipment for the plant. the second one was line of credit partially used to buy a truck and then a later draw to buy raw material. Company A failed to file taxes end of 2005. In 2007 the irs filed a tax lien. Does the tax lien take priority over the security interest on 1st loan. Does it take priority over the truck; how about the draw used for raw material?
U.S. banks lobby Fed on debit card fee limits (Reuters)
Reuters – The Federal Reserve has begun taking the first steps to crack down on debit-card transaction fees, with the battle between merchants and banks moving from the legislative to the regulatory arena.
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U.S. banks lobby Fed on debit card fee limits
(Reuters)
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U.S. banks lobby Fed on debit card fee limits (Reuters)
Reuters – The Federal Reserve has begun taking the first steps to crack down on debit-card transaction fees, with the battle between merchants and banks moving from the legislative to the regulatory arena.
Read more:
U.S. banks lobby Fed on debit card fee limits
(Reuters)
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U.S. banks lobby Fed on debit card fee limits (Reuters)
Reuters – The Federal Reserve has begun taking the first steps to crack down on debit-card transaction fees, with the battle between merchants and banks moving from the legislative to the regulatory arena.
More:
U.S. banks lobby Fed on debit card fee limits
(Reuters)
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U.S. banks lobby Fed on debit card fee limits (Reuters)
Reuters – The Federal Reserve has begun taking the first steps to crack down on debit-card transaction fees, with the battle between merchants and banks moving from the legislative to the regulatory arena.
Read the rest here:
U.S. banks lobby Fed on debit card fee limits
(Reuters)
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OSHA Orders New Jersey Transit To Pay To Workers For Violation
Link: http://osha-safetytraining.blogspot.c… The U.S. Department of Labor's OSHA after investigating a whistle blower found that New Jersey Transit had retaliated against a worker for reporting a work-related illness thus violating the Federal Railroad Safety Act. Read
OSHA Safety Program To Protect Federal Workers
Link: http://osha-safetytraining.blogspot.c… OSHA's Federal Agency Targeting Inspection Program 2010 (FEDTARG10) is targeting hazardous federal work sites lately. The OSHA safety program emphasizes work site safety for federal workers and contractors as supervised by federal personal. Read
If I sell a residential rental property, will I have to pay 15% federal capital gains tax?
If I do a 1031 exchange and the purchase price of the other property is less then the selling price of my property, can I use the balance to pay down the mortage of another property without being taxed on the balance?
