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Posts Tagged ‘law’

Question: The IRS wont ever forget to tax your ass, but where are they on this 1?

http://www.youtube.com/watch?v=BRBekRRBYfY&feature=player_embedded#

And go here for the simple, straightforward rule on this one. Page Five: Jeopardizing Tax-Exempt Status:

All Internal Revenue Code Section 501(c)(3) organizations, including churches and religious organizations, must abide by certain rules: They must not participate in, or intervene in, any political campaign on behalf of (or in opposition to) any candidate for public office…

Martin Luther King, Jr. would be appalled at what is going on today. When being in permanent campaign mode, aka being all rhetoric and no substance, finds its way into the church….

Their is a reason its against the law for churches to preach about politics…. I wonder why has the IRS ignored this 1?….

Answer: That rule is BS. How can a church not have an opinion on politics? The people can take it or leave it: votes are secret.

Provident Announces 2010 Second Quarter Results and August Cash Distribution

CALGARY, ALBERTA–(Marketwire – 08/11/10) – All values are in Canadian dollars. Provident Energy Trust (Provident) (TSX: PVE.UN – News ) (NYSE: PVX – News ) announces its 2010 second quarter interim financial and operating results and the August cash distribution of $0.06 per unit. “While two significant transactions impacted the results of the quarter, results from our core midstream business …

CCHR (Scientology) violates IRS tax law

Question: My husband and I were told we could form a c corporation and roll our retirement over into it without being

penalized for drawing it out before we we are 59 1/2. The company that told us about it calls it a versatile entrepreneur retirement savings account plan. They said it is legal and takes the employee retirement income security act (ERISA) and the Internal revenue Code of 1986 (IRC) into consideration. In calling around checking prices to have something like this done we were told that it is illegal to invest your retirement into a business that you will be working in. They said there was someone in Little Rock Arkansas that was doing it and that the IRS was going after them and the people who took part in it with them. Does anyone know the truth about this and how to go about getting it done if it is legal? Also we have found a business where the owner told us if we bought it we could transfer the corporation they set up for the business into our names….Is this possible and whats involved in it? Any help would be greatly appreciated

Answer: IRS has ruled that is a tax scam.

I sould illegal to me. IRS takes tax evasion very very seriously.

I have a self directed IRA. I can write checks to buy property and I can even own a business. But I cannot work in the business nor draw any money. I formed an LLC to do this. Eventually all this money goes back to the IRA and I have to pay taxes like everyone else.
I cannot take anything early wo a penalty.

Your guy sounds like a scam or ripoff.

Pay income taxes on a foreign CD account?

U.S. citizens with a CD account held in a foreign bank still have tax obligations.

Compliance Cost of the Internal Revenue Code IRS

Question: Employer failed to send me a 1099 form. What should I do?

I worked as an independent contractor for a small law firm for about 2 months. I don’t have copies of my checks or the total amount i earned. They did not send me the 1099 at the end of the year and did not respond to any of my requests to do so. What shoould I do? How do I file my taxes? Is there any way to force the employer to send me that 1099?

Answer: most people do not get their 1099 until early to mid february. and yes you can contact your employer. but you have to wait until feb 15th before you can contact the irs. they number is 1-800-829-1040 and be preparer to give employer information. if you dont receive it in time to do your taxes you can use form 4852

i love it when i get thumbs down for giving a correct answer especially related to something i do for a living.

IRS Sees Need for More Tax Information Reporting

IRS Commissioner Douglas Shulman defended the increased amount of information reporting that the agency will be expecting from businesses in the next few years.

Question: IRS audit question…

You are an accountant and a client of yours is under audit by the IRS. The Revenue Agent contacts you after she has spent some time investigating the taxpayer’s records. She says that there are certain items that she has not been able to locate and she wishes to review your work papers, retained copies of returns and files.
A. Do you grant her request?
B. Assume that the revenue Agent sent you a letter stating that under Code Section 7602 she has the right to request, review and copy the records and that she is formally requesting them. Do you comply with her request?
C. If you turn the records over under either or these circumstances, do you expose yourself to any potential liability to your client?

Answer: Yes–generally a practitioner is required to provide the records (per IRS Circular 230) unless they believe in good faith and on reasonable grounds that the records or information are privileged.

Source: read more at page 15 http://www.irs.gov/pub/irs-pdf/pcir230.pdf

Labour and Employment

One of the changes made by the Patient Protection and Affordable Care Act (PPACA) that has received a great deal of attention is the required coverage for adult children until age 26, which is effective for plan years beginning on or after September 23, 2010.

Narconon Michigan Explains How To File An IRS 501(c)(3) Complaint against Scientology

Question: If I get a 1099 from the 2nd mortgage holder after a foreclosure sale does that stop a lawsuit by them?

My residence was foreclosed and sold at auction. I had a 1st and 2nd mortgage. The home was sold for a little more than what was owed on the 1st mortgage. I do not know if the 2nd mortgage holder received a dime. I contacted an attorney before the sale and he said that in his 30 years of practice he has only seen one time that the 2nd mortgage holder filed a lawsuit. I figured that since we are in a foreclosure climate they probably won’t come after me. I am now wondering if I do get the 1099 that they are forgiving the debt and that frees me from a lawsuit. It would certainly relieve some stress even though I would owe tax.

Answer: it really depends on the state laws where the property is located. If there are deficiency laws in that state, do not be suprised if the 2nd goes after the full deficiency. I would call the 2nd lien holder to see what they intend to do.

Unemployed? 10 tax tips for a bigger refund

Worries about taxes among the unemployed may be one reason IRS statistics show returns are coming in slower this year. Here are 10 tips to ease your fears. Tax – Internal Revenue Service – Tax refund – United States – Accounting

Sovereign Contract Redemption Hr 1- Pt 7 Strawman freeman A4V 1099-OID Gordon Hall