Tax Help

I'm now working with the tax help company Tax Relief Info which has a free to use website www.taxreliefinfo.org and offers a free phone consultation on tax issues. It was created by tax pros I've worked with for more than 15 years and they specialize in the IRS Fresh Start Initiative and Offer In Compromise program. If nothing else make use of the free consultation.

Former Trump Organization Chief Financial Officer Allen Weisselberg will have to make full repayment of taxes, penalties and interest due to the New York City and New York state tax authorities totaling $1,994,321.

My buddy inherited a lot of dough but quickly pissed it and his retirement away at the roulette tables in an epic journey into darkness.

Teetering on bankruptcy, in debt to the IRS, he determined not to file bankruptcy, if for no other reason than to punish himself for his weakness.

He had a very good result with a tax relief service in Portland: not a national concern, just a guy in a seedy office, sloppy but he got the job done, reducing the tax debt by more than ninety percent.

Still, had he been able to maintain even a vestige of control he wouldn't have had to fail so badly but hey, that's (degenerate) gambling.

Egad.

It appears to my jaundiced eye that Alan just committed a serious, intentional violation of rule 3, which states:

"No free advertising. If you want to advertise on this site then expect to pay. Members in good standing may plug their own product or service, with prior permission. However, "good standing" must be earned. Definitely don't post an ad in your very first message!"

He admits elsewhere that he hasn't used the service himself and that they are clients of his and that he has done their advertising and marketing for 15 years.

As it is not his company no prior permission / dispensation can give him a bye.

So he's spamming the board, shilling for a client.

Quote: MrV

Egad.

It appears to my jaundiced eye that Alan just committed a serious, intentional violation of rule 3, which states:

"No free advertising. If you want to advertise on this site then expect to pay. Members in good standing may plug their own product or service, with prior permission. However, "good standing" must be earned. Definitely don't post an ad in your very first message!"

He admits elsewhere that he hasn't used the service himself and that they are clients of his and that he has done their advertising and marketing for 15 years.

As it is not his company no prior permission / dispensation can give him a bye.

So he's spamming the board, shilling for a client.
link to original post

This must have been a great moment for MrV to tell the forum that I'm "spamming the board, shilling for a client."

But alas my post is in the Kiosk where it says "Plug your Las Vegas business interests here. NO INTERNET GAMBLING ADS."

Sorry MrV. But do continue to attack me on the other forum.

By the way, there is information about Gaming and taxes.

Nice try.

The kiosk is for LAS VEGAS business interests, i..e. stuff unique to sin city, and the rule requires it be YOUR business.

The taxrelief you shill seems national, not local in scope, i.e. not "unique" to sin city.

Also, are YOU the owner?

You said you "joined" it (in your video), but not that it is your business, and that you were involved with them for 15 years.

Just curious: does that predate your moving to Las Vegas?

Were you pitching them when you still lived in LA?

If it is your business, what qualifies you to do this kind of specialized tax work?

You were a reporter, not a CPA: what training would you have to give professional tax relief?

Oh, wait a minute...maybe you own the site and use it to find potential clients that you then refer out to competent pros across America (for a fee, of course)?

If so that is still a violation.

Quote: MrV

(snip)

You were a reporter, not a CPA: what training would you have to give professional tax relief?
(snip)link to original post

I used to moonlight for H&R Block decades ago. Yes, I was desperate.

I will never forget the day that three clients came in. Luck of the draw, no simple 1040As, they ended up with me. All three owned multi-family homes, lived in one part, rented the rest. Each of the three had been getting their taxes done by a CPA. All had been kicked to the curb by their CPAs due to workload. All brought the previous year's returns. Every single one of those CPAs had amortized those multi-family homes incorrectly. Straight line, or used the wrong MACRS amortization table or wrong column, or used ACRS instead. Wrong, wrong, wrong. One client had their home down to zero--full amortization, ten years early. Their taxes owed were startlingly high because of it.

CPAs, nearly always, don't do individual income taxes full-time or year-round—there's not enough money in it. Business accounting is much more lucrative. But every January, just hang out their tax prep shingle and hope nothing strange walks in the door. I learned fast that if someone came in and said "my taxes were done by a CPA last year," then that's the red flag to start looking for trouble. Because it's there.

If you can read, comprehend what you're reading, and can operate a four function calculator, then you can do your own taxes.

Quote: BillHasRetired

Quote: MrV

(snip)

You were a reporter, not a CPA: what training would you have to give professional tax relief?
(snip)link to original post

I used to moonlight for H&R Block decades ago. Yes, I was desperate.

I will never forget the day that three clients came in. Luck of the draw, no simple 1040As, they ended up with me. All three owned multi-family homes, lived in one part, rented the rest. Each of the three had been getting their taxes done by a CPA. All had been kicked to the curb by their CPAs due to workload. All brought the previous year's returns. Every single one of those CPAs had amortized those multi-family homes incorrectly. Straight line, or used the wrong MACRS amortization table or wrong column, or used ACRS instead. Wrong, wrong, wrong. One client had their home down to zero--full amortization, ten years early. Their taxes owed were startlingly high because of it.

CPAs, nearly always, don't do individual income taxes full-time or year-round—there's not enough money in it. Business accounting is much more lucrative. But every January, just hang out their tax prep shingle and hope nothing strange walks in the door. I learned fast that if someone came in and said "my taxes were done by a CPA last year," then that's the red flag to start looking for trouble. Because it's there.

If you can read, comprehend what you're reading, and can operate a four function calculator, then you can do your own taxes.
link to original post

Bill your story reminds me of when I was doing my taxes myself because-- if the news reporter who told people how to do their own taxes wasn't doing their own taxes then who could?

Well, I got my first income property...

So while researching my next series of TV tax tips i asked my IRS contacts about tips for income properties. And they told me "get Turbo Tax... that's what we all use."

Turbo tax. True story.

Quote: AlanMendelson

(snip)
So while researching my next series of TV tax tips i asked my IRS contacts about tips for income properties. And they told me "get Turbo Tax... that's what we all use."

Turbo tax. True story.
link to original post

I use TT, and don't do anyone's taxes anymore (third year free from that!) But, like anything else, you need to understand the laws behind the software to ensure the software is doing what it's supposed to. Far too many Block folks didn't. That's why I got all the 'interesting' clients.

Then there was the guy with four wives....True story.

I still do taxes for a few of my exes.

I did our taxes until a couple years ago at which time everything seemed to change.

So I hired a CPA: few regrets, he found stuff I would have missed.

One problem, though: this year my refund was delayed three months as he did not include the W2-G forms when he electronically filed our return.

When I asked him about it, he said to the effect "I never file them. This must be a year where the IRS is taking a close look at gambling return info."

That seems lame: I gave him the W2-G's and they clearly say they need to be filed with the return.

Next year I'll insist he include them when e-filing.

Quote: MrV

I did our taxes until a couple years ago at which time everything seemed to change.

So I hired a CPA: few regrets, he found stuff I would have missed.

One problem, though: this year my refund was delayed three months as he did not include the W2-G forms when he electronically filed our return.

When I asked him about it, he said to the effect "I never file them. This must be a year where the IRS is taking a close look at gambling return info."

That seems lame: I gave him the W2-G's and they clearly say they need to be filed with the return.

Next year I'll insist he include them when e-filing.
link to original post

As you know the IRS gets copies of the W2Gs given to you. As long as your electronic filing includes a W2G total equal or greater than the W2Gs received by the IRS there shouldn't be a problem.

There is an electronic filing option for W2Gs. Did your CPA forget to include them?

Tax refunds have been delayed a year or longer because of logjams at the IRS caused by a shortage of workers.

You should adjust your withholding so you dont give the IRS a loan.

My total was correct.

The IRS sent me a letter requesting I supply them copies.

I did, then they released the refund in the original, expected amount, plus accrued interest.

You can create an 'account' at the IRS, and request all the data they have related to you, including the W2-Gs. Takes about five minutes to download it. You can do that before you go to the CPA.

Quote: MrV

My total was correct.

The IRS sent me a letter requesting I supply them copies.

I did, then they released the refund in the original, expected amount, plus accrued interest.
link to original post

Sounds to me that your CPA failed to electronically submit the data found on the W2Gs which is why you were asked to submit your copies.

Simple errors delay returns.

Quote: AlanMendelson

Sounds to me that your CPA failed to electronically submit the data found on the W2Gs which is why you were asked to submit your copies. Simple errors delay returns.

Yes, and when I asked why he didn't attach them when he e-filed he said he never does and he never had a problem in not attaching them with the return.

Quote: MrV

Quote: AlanMendelson

Sounds to me that your CPA failed to electronically submit the data found on the W2Gs which is why you were asked to submit your copies. Simple errors delay returns.

Yes, and when I asked why he didn't attach them when he e-filed he said he never does and he never had a problem in not attaching them with the return.
link to original post

He's not wrong.

In the past if you reported W2Gs but didnt attach them you could have gotten a "pass."

But the IRS is tightening up now.

Next is cryptocurrency reporting.