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

September 2014 Archives

Former reality star finds self in a tough "situation" with the IRS

Ohio residents were first introduced to the MTV television series Jersey Shore in 2009. Since that time, the antics of the television show's cast members on and off camera have been the subject of many news stories and legal cases.

Are non-citizens exempt from paying U.S. taxes?

The Internal Revenue Service is the federal agency tasked with both establishing and enforcing U.S. tax laws and collecting tax-related payments. While most other countries collect taxes from citizens, the U.S. is renowned as having some of the strictest and widely enforced tax laws of any country.

What's the difference between an employee and independent contractor?

The goal of many small business owners is to grow their business and business capabilities. In many cases, business owners who are successful in achieving this goal must hire individuals to assist with a variety of business-related matters. Upon hiring someone, business owners must take steps to correctly classify a worker as either an employee or independent contractor.

Addressing compliance issues related to offshore financial accounts

The Internal Revenue Service combats the circumvention of United States law by requiring U.S. citizens and residents with money in foreign accounts to report those accounts each year by completing the Report of Foreign Bank and Financial Accounts, or FBAR. Under the Bank Secrecy Act, foreign trusts, mutual funds, brokerage accounts and bank accounts, along with any dividends, interest, gains or losses associated with those accounts, must be reported.

Yes, the IRS can and will put a lien on your property if you don't pay back taxes

In a recent post we discussed an IRS-issued document called a Notice of Underreported Income. In this post we'll discuss another, more serious, type of notice an individual who has failed to respond to previous IRS inquiries may receive, a Notice of Federal Tax Lien.

Efforts of IRS to pursue tax crimes hampered by budget cuts

Washington politics are at the center of major budgetary cuts at the Internal Revenue Service that may severely hamper the agency's ability to investigate and prosecute criminal tax cases. Like most federal offices, the IRS relies upon highly skilled professionals when seeking to bring criminal charges against individuals and corporations related to tax crimes like tax evasion, tax fraud and money laundering.

When dealing with independent tax preparers, taxpayers should be wary

Each tax season, millions of Americans rely upon tax professionals to prepare and file tax-related documents. While many tax preparers are employed by reputable and well-known companies, many others are independent and self-employed and, therefore, subject to little to no oversight.

What should I do if I receive a Notice of Underreported Income from the IRS?

We've previously discussed how complex and confusing tax laws and regulations can be. As a result, many people who attempt to complete and file their own tax documents make mistakes. Tax errors related to earned income totals are common and when the IRS catches a discrepancy in reported income, and you can be assured they will, a taxpayer receives what is known as a Notice of Underreported Income.

Tax woes of the rich and famous

When it comes to some celebrities, the phrase more money, more problems seems to definitely apply. The IRS doesn't care who you are or how famous you are. If the federal government believes you owe it money, it will take action to recoup the amount in dispute, impose penalties and, if necessary, take legal action.