IRS Problem Solver Attorney Mary King Discusses New Issues For Filing 2014 Tax Returns
Jan 12, 2015
Attorney Mary E. King appeared on the talk radio show Money For Lunch to discuss new considerations taxpayers must deal with when filing their 2014 tax returns.
Chief among the concerns were the changes made to many tax forms to include additional information for the implementation of the Affordable Healthcare Act often referred to as ACA or Obamacare.... read story...
Tax Attorney Mary King Wins Two Awards At The EXPYS
May 12, 2014
IRS Tax Relief Attorney Mary King has Won Two Awards at The 2014 National Association of Experts, Writers and Speaker Awards.
Attorney Mary King With Kevin Harrington of "Shark Tank"
Mary King, owner of the Law Office of Mary King P.L. In Sarasota Florida, received an Award for her contribution as an expert author of Protect And Defend. In the bo... read story...
Florida Tax Attorney Mary King Joins Elite MasterMind Group, The X-Group
May 08, 2014
Mary King, attorney and tax lawyer, was recently selected to be a part of the exclusive “X-Group” – a new Dicks + Nanton Ultimate Celebrity Expert® Mastermind group.
Sarasota, Fla. – May 8, 2014 – Best-selling author Mary King, a tax attorney and frequent public speaker for civic organizations, is proud to announce that she has been accep... read story...
Florida Tax Attorney Mary King Now Taking IRS Criminal Defense Cases
Mar 01, 2014
Sarasota Florida Based IRS Tax Defense Attorney Mary E. King Esq., has expanded practice areas to include representing clients for criminal tax cases.
The IRS resolution law firm Law Office of Mary King P.L. Has added to it's list of tax-related practice areas and will be accepting new cases for individuals and businesses with criminal tax problems. Th... read story...
Is The IRS Fresh Start Program For Real?
The IRS has a way to help tax payers who get behind. This is called the Fresh Start Program. This program helps both individuals and businesses create a plan to settle their back taxes and move forward. The program can help a payer avoid tax liens and seizures that make it difficult for the payer to continue to live or conduct business.
Development of the program
The U.S. government began the Fresh Start program in 2008. Changes in 2012 make it even easier for taxpayers to settle old debts. For example, if the payer faces a period of unemployment, they might qualify for penalty waivers. Payers can also qualify for extensions without penalty. Users can take advantage of installment agreements and compromise programs. It's important to work with a team of skilled and experienced attorneys in order to help you choose the best option in your case.
If you owe back taxes, you may be able to arrangement for a payment plan. This is called an installment agreement. You can pay monthly amounts instead of worrying about the IRS trying to seize... ...read full post
What Happens When You Face Wage Garnishment From the IRS?
The Internal Revenue Service (IRS), can garnish an individual's wages if he or she has a tax debt that has not been settled, similar to a creditor. However, the IRS is unique from creditors because it can garnish an individual's wages before receiving a judgment. In addition, the IRS also has the power to garnish more funds than other creditors. Fortunately for taxpayers, the IRS offers several payment options for individuals wanting to avoid wage garnishment.
What Tax Obligation Options Does the IRS Offer?
After an individual files his or her taxes, they will either owe the IRS money or be issued a tax refund. For those who owe the IRS money, there are several payment options. Although it is ideal to write a check to the IRS for the full amount owed, many individuals do not have the funds to make the full payment all at once, so these individuals will need to seek out other payment options. The IRS offers the following payment options for those not able to pay the full amount at once:
Arrange... ...read full post
Tax Problems Business Owners Should Watch Out For
Taxes are one of the major problems that many businesses run into. What can be deducted from your expenses? What happens if the Internal Revenue Service audits you? Those are just a few of the many business tax problems that people often run into. Fortunately, there are things that you can do in order to avoid problems.
Not Deducting Business-Related Expenses Properly
Start-up costs can create major problems for businesses when it is time for businesses to do their taxes. Many small business owners think that they can deduct all of their expenses from their taxes. However, you cannot do that until you make a sale. Any expense that you incur prior to making your first sale is considered a start-up cost. This includes things such as renting an office space, buying equipment or buying a computer. You can deduct these costs over the next 15 years.
You can deduct $5,000 in start-up costs during your first year of business. You can also deduct $5,000 in organizational costs. Legal fees and the cost of setting up a corporation are examples of organizational costs.
However, these deductions only apply... ...read full post
9 Ways You Can Settle Tax Money You Owe
There are several ways to settle tax debt. Ignoring the problem is always a mistake. Ignoring the debt can cause penalties to rapidly increase. In addition, the interest on the tax debt is likely to increase rapidly when the debt is ignored. Here are some things that you can do if you owe money to the IRS:
1. Utilize Services Of A Tax Relief Professional
A tax relief professional can give advice that's tailored to your situation. This may help you to pay the money back in full or create a successful compromise. While this advice will cost you something, it generally pays off. Here are possible solutions that you might be able to implement either with or without the advice of a tax relief professional:
2. Installment Programs
Installment programs are the most common way to pay the IRS if you don't have the money to pay in full. Often times, installment programs allow for monthly payments that are quite reasonable.
3. Installment Program-Like Arrangements
If you aren't able to pay back the money with a traditional installment program, there is another option. Partial payment installment programs allow for smaller payments than traditional installment programs, but they... ...read full post
6 Things You Need to Know About Offshore Bank Accounts
Keeping money in an offshore bank account isn't a way to get out of reporting it to the IRS. Foreign banks are increasingly likely to provide information about their US clients to the IRS.
Here are some important things you need to know about having a foreign bank account:
1. All Income Must Be Reported
If you are earning money in a foreign country, it still might be taxable. This includes interest from foreign bank accounts. If you are living or working abroad, you might not have to pay US tax on money that you earned m the country that you're residing in. A foreign tax credit may be available. However, you are still obligated to report the income to the IRS.
2. You May Need A Special Form When You Report Your Foreign Bank Account(s)
Individuals who have $10,000 or more in foreign bank accounts have to report to the IRS using the FINCEN form. This form is due on a different date than other tax forms. The FINCEN form is due on April 15th. It is also necessary to report foreign bank accounts on the standard tax form.
People who have less than $10,000 in foreign bank accounts don't need the FINCEN form. Still,... ...read full post