Robert J. Fedor, Esq., L.L.C.

January 2014 Archives

How to keep IRS auditors at bay this tax season

The April 15 deadline for filing individual and business tax returns is quickly approaching. As Ohio residents wait for or attempt to locate necessary tax-related documents, many likely have questions and concerns about whether they can look forward to a refund or will be stuck paying Uncle Sam. As individuals and business owners prepare tax documents and forms, it's wise to remember the types of red flags that may catch the attention of the IRS.

Business owner charged with tax evasion after using company card

In previous blog posts, we've discussed some of the tax faux pas small business owners may make. Small business owners are the backbone of the American economy and the men and women who work hard to start, grow and sustain a business are often juggling many priorities and the lines between what's business and what's personal may be blurred or crossed.

Why hobbies and tax deductions rarely go together

Many Ohio residents enjoy a variety of hobbies. Traveling, breeding dogs and motor cross racing are just a few examples of the varied hobbies that are not only fun and enjoyable to those who participate, but may also be tax deductable. Sounds great right? Enjoy a favorite hobby or pastime while also getting a tax break. Well, it's not that easy and individuals who plan to write off expenses associated with a hobby, and avoid scrutiny by the Internal Revenue Service, would be wise to adhere to the following rules.

Clients may be punished for tax preparer's tax crimes

As tax time approaches, many Ohioans will likely turn to a tax professional when preparing and filing tax-related documents. Small business owners are especially likely to reach out to a professional tax preparer for advice and assistance. Tax preparers are familiar with tax codes and are in the business to ensure clients are able to take advantage of appropriate tax deductions and retain wealth.

Independent report sheds light on consequences of IRS budget cuts

Few Americans are fans of the Internal Revenue Service, yet drastic cuts to the federal agency's annual budget have ultimately served to punish everyday Americans. This belief was the underlying theme of a recent report provided to the agency by National Taxpayer Advocate, Nina E. Olson. In the report, Olson contends that continuous cuts to the agency’s annual budget have made the agency highly ineffective and punitive towards taxpayers.

Beanie Babies billionaire soon to be sentenced for tax evasion

Many Illinois residents likely recall the beanie babies craze of the 1990s. Few, however, may be familiar with the story of the man behind the small plush toys. Details related to the life of beanie babies creator Ty Warner were recently detailed as his criminal defense attorney requested Warner receive probation rather than prison time for tax evasion.

Tips on how to avoid tax troubles during 2014 and beyond

Few Americans likely enjoy paying taxes. Yet the potential penalties for not paying taxes or for making tax-related errors can adversely impact an individual’s life in a number of ways. As Ohio residents resolve to make changes and improvements for the new year, there are several tax-related matters that should be considered.

Ohio fraud case linked back to Miami Heat basketball team

If you're charged with a tax crime, you've probably wondered if you have any options. You do; you may be able to defend against the criminal tax investigation and make sure you are treated fairly during this trying time in your life. In Ohio, one recent tax fraud case has come to light, and now Miami Heat, the popular basketball team, has also been pulled into the case. According to the Dec. 31 news release, an Ohioan has been accused of operating multimillion-dollar fraud campaigns that have cheated people like the basketball players of Miami Heat.

Ohio lieutenant governor quits ticket over tax debts

Tax debt can get you into plenty of trouble with the IRS, but it's safe to say that the IRS isn't always right, either. Sometimes, you may forget to file a return or miss reporting something, but that doesn't make you a criminal; you deserve to be heard. If you're being charged due to tax debt or other tax crimes, you may want to get into contact with an attorney.