Monthly Archives: October 2013

Do you have to pay taxes on your court settlement?

Congratulations, you’ve just settled with a former employer and received a payment of $400,000.  Do you have to pay income taxes on the settlement. More than likely, yes, you will have to pay taxes on the settlement. The only type … Continue reading

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Received a bad 1099?

Have your received a 1099 with bad information?  A 1099 that had an incorrect amount?  It certainly wouldn’t be the first time that someone issued a bad 1099. Think about it, millions of 1099s are issued each year, there are … Continue reading

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Missed Checkbox is probably going to cost millions in taxes

Worried that if you forgot to check a box the IRS or Franchise Tax Board can hit you with a bunch of penalties? Unfortunately it seems your fear is justified. A San Francisco judge recently determined that Sprint (yes, that … Continue reading

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A 2nd chance with your IRS Audit, aka an audit reconsideration

What would you do if the IRS told you you owed them a few million dollars, and they were wrong?  Wouldn’t you spring a couple thousand dollars for some legal help? It appears the taxpayer, Mr. Seifert, in a recent … Continue reading

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The FTB knows all

A couple new laws were just implemented that really point out the extent to which the franchise tax board shares information with other agencies, cities, and yes, even Mexico. Take a look at the amendments to section 19551 of the … Continue reading

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Can the IRS take away your house?

A big fear of people when they receive a notice of intent to levy from the IRS is that they are going to lose their home.  The big question is, “Can the IRS take away our home?” The simple answer … Continue reading

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Levied by the IRS, how does the shutdown affect you?

Have you had your wages or bank account garnished by the IRS?  Is the IRS taking away your social security? That’s exactly what happened to one couple, the IRS started to levy or garnish the couples social security benefits (Yes, … Continue reading

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Taxes and Ponzi Schemes

What is someone told you they had a “guaranteed” investment that was going to pay you 80% a year?  Yeah, you say that in public, but in private, when you are really desperate for some money would you consider it? … Continue reading

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Your LLC needs an attorney in court

Lawyers cost money, lots of money if there is going to be a trial involved.  We know times are tough.  We know people like to save money.  Unfortunately we also know some will try to save a few dollars when … Continue reading

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