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...
Won the lottery? Better Be Ready For Taxes!
Most people dream about what they would do if they won millions in a lottery but no one thinks about the applicable tax. The 2016 Powerball, which went up to $1.5 billion, generated a flurry of ticket-buying activities across the country and the issue of how much tax its winner would incur came up. Many variables influence the taxes you pay after getting lucky in a lottery.
These taxes are sources of revenue for the state that participates in a particular competition. Put simply, both federal and state laws consider lottery winnings as incomes. A lot of half-truths and misconceptions about what lottery winner owe the state can confuse you even more. However, an experienced attorney who is well-versed in tax laws can help.
Federal Taxes on Lotteries
Most people already know about the federal taxes on lottery winnings- the federal withholding tax that applies to winnings that exceed $5,000. However, you can pay more than 25% because the highest limit for the federal income tax bracket is 39.6%. Your federal income tax will also depend on how you get the payment.
For mega-jackpots like the $1.5 billion Powerball, most winners choose to get... ...read full post
How Does IRS Pursue Payroll Trust Fund Penalty Funds?
You have probably heard stories about tax indictments and convictions. It is scary to hear about those things because you may be worried about your own taxes. The IRS can be aggressive when they are pursuing income taxes. However, they are even more aggressive when it comes to collecting payroll tax.
The money that is withheld from an employee's paycheck is supposed to go straight to the IRS. If the IRS does not receive this money, then the losses will quickly add up. The money that is withheld from the paycheck is often referred to as trust money. This is money that belongs to the government. Even if the employer has a good reason for not sending this money to the IRS, they can still face serious penalties.
For example, some people use their payroll tax in order to cover business expenses. This may seem like a good way to use payroll tax because a business has to pay bills in order to stay open. However, this excuse will not be accepted by the IRS.
People can also get in trouble for paying the payroll taxes late. In some cases, the payroll... ...read full post
Tax Day Is Over So What Happens If I Missed Filing My Taxes
Late tax filing is extremely common. In many cases, people simply forget to file their taxes. Many people are surprised after they file a tax return and find out that they owe more than can pay. When many people find out that they have tax problems, they want to ignore them. However, your problems will only get worse if you ignore them.
The Internal Revenue Service can be very aggressive when they are pursuing collection. They are also increasing the number of audits that they do. They have a good reason for doing this. The government needs money in order to function. Most of this money comes from your income tax.
What Happens if you Have Missed Filing Your Taxes?
There are many negative things that can occur as the result of late tax filing. You could possibly be charged penalties if you do not file your tax return. Failing to file a tax return is a misdemeanor, so you could be sent to jail for up to a year. However, the IRS would rather collect the money instead of send you to... ...read full post
What Happens When The IRS Moves To Seize My Property?
If you have defaulted on your taxes, IRS will take all the necessary steps to ensure you clear your debt. After a tax lien fails to compel you to pay your overdue taxes, IRS will use a tax levy. A levy is simply the legal seizure of your assets to compensate for taxes owed.
While a tax lien is just a claim to a tax defaulter's assets, a levy gives IRS the right to seize your assets. IRS may levy your investment accounts, bank accounts, accounts receivable, social security, wages, insurance policies, pensions, and physical assets. Read on to learn about IRS property seizures.
The IRS Seizure Process
There are three steps that IRS uses when seizing taxpayer's property. The whole procedure ensures that a taxpayer has sufficient notice about IRS's intention to seize their property and has enough time to contest or appeal the tax levy. The IRS is legally required to follow these steps before seizing your property.
The first step that IRS takes when seizing property is sending a "Notice of Demand for Payment". This notice informs you about the tax assessment issues in question and demands that... ...read full post
What Assets and Property are Exempt From IRS Seizure and Levy
The Internal Revenue Service (IRS) can be very aggressive when collecting from debtors. The IRS applies certain tactics to compel the taxpayer to comply and to minimize the balance owed on a taxpayer's accounts. One of the tactics adopted by IRS for collecting from tax defaulters are the use of liens and levies. IRS can levy all the property that a taxpayer owns in an attempt to satisfy an outstanding obligation. However, there are some assets and property that IRS cannot seize or levy. The following web page will guide you on how IRS uses liens and levies, and the assets and property protected from IRS seizure.
If the IRS cannot recover overdue taxes through a lien, their next resort is to use levies. An IRS levy is the practical seizureof the assets of a taxpayer. It is the final way that taxation is enforced when all attempts at collecting taxes fail. IRS will issue tax levy notices to financial institutions and employers associated with the taxpayer.
Contesting an IRS Tax Levy
Before IRS seizes property or money, they must issue you with a notice of their... ...read full post