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...
International Agreements Turning Up Pressure For Offshore Bank Account Disclosure
The IRS and U.S. Justice Department, now more than ever, due to a the combined efforts of willful witnesses, whistleblowers, and data from the Foreign Account Tax Compliance Act (FATCA, are able to track down offshore accounts. Offshore account holders have been warned that they either disclose now or face severe consequences. Banks all over the world now want to know if account holders are in compliance with the IRS. It is easier to be discovered by the IRS. The list of accounts that are facing costly penalties has expanded considerably. As of 2016, with the help of these offshore account programs,the IRS has collected over $8 billion in taxes and penalties.
It is becoming increasingly difficult for offshore account holders to go unnoticed from the IRS. Under FACTA, the U.S. and partnering territories now have an complicated web of intergovernmental agreements (IGAs). The IRS now has an updated and expanded list of foreign banks with a cost-prohibitive 50% penalty (formerly 27.5%) with the Offshore Voluntary Disclosure Program (OVDP).
Since 2009, the OVDP has offered offshore account holders with undisclosed income, the opportunity to get up-to-date with their taxes and other pertinent tax information. The OVDP encourages taxpayers to cooperate... ...read full post
8 Tips To Keep Your IRS Problem From Getting Worse
If you’re in trouble with the IRS, it’s important to address the issue head-on, and not allow the problem to get any worse. Mary E King has been a tax attorney for over 20 years, and these are the common mistakes that she sees folks make that only makes their problems worse:
1) Open Your Mail
As soon as you get something in the mail from the IRS, open it. I know, I know, it’s not easy. But letting mail from the IRS stack up on your desk or kitchen table unopened can be one of the worst mistakes you can make. Chances are very good that they’ve given you a deadline to respond, and if you don’t respond, things will get worse. It may seem a little scary, but it’s better to know exactly what’s going on at all times. If you open your mail from the IRS and it’s a letter that’s threatening to garnish your wages, put a lien on your property, or levy your bank account, download the free report called “The 5 Things You MUST Do IMMEDIATELY If You've Received a Threatening... ...read full post
Not Just IRS Defense - Tax Attorneys Are Uniquely Qualified For Business Planning
Assuming they are thought of at all, and that may be a rather charitable assumption, tax attorneys tend only to come up in relation to a looming IRS issue. Without the terrifying prospect of an IRS incursion, taxes are usually little more than an annoyance to be handled by either an accountant or the adventurous souls who will brave mountains of paperwork to self-file.
Even when the tax attorney's talents are deployed, it tends to be at a late stage in the game. Many citizens attempt to handle IRS issues on their own, using the attorney as a measure of last resort. Their options compromised by their clients prior actions, many attorneys in these circumstances are only able to mitigate damage, as opposed to acting as a bulwark against the IRS.
Almost every tax issue should be handled by a tax attorney, and the term 'tax issue' is far broader than episodes featuring an IRS investigation.
A competent tax attorney can provide services that reach far beyond cleaning up sloppy or incomplete tax filings. While there are a wide range of benefits employing a tax attorney can... ...read full post
What Is The Payroll Trust Fund Recovery Penalty?
Potentially the most important legal aspect of operating a business involves payroll reporting and regulations governing the funds transfer process to the Internal Revenue Service. The IRS does offer a certain amount of business management latitude to business owners who must collect payroll and social security taxes. However, sometimes business operators make the serious mistake of not transferring the deducted funds when the operation faces financial difficulties, including failure to meet the legal requirement of matching the FICA deductions for Social Security. This is a very slippery slope when managing a business, and solid attention should always be given to details concerning legal fiduciary responsibilities. The IRS is very serious about recovering these funds, and many times fines and even incarceration can be part of the final decision. That is why it is imperative to have an experienced and aggressive IRS tax relief attorney representing your case.
Many businesses operate by allowing specific employees to sign financial instruments and and have access to bank deposit information. In most instances, these documents will also be included in the Internal Revenue Service investigators report. In addition, these particular employees will more than likely be a potential target of the investigation. The question... ...read full post
How Much Longer will The IRS Offer Amnesty For Offshore Disclosure?
The Internal Revenue Code (IRC) imposes taxes on U.S. citizens’ income, regardless of where in the world that income originates. It also requires reporting of some types of assets located in foreign countries. Violation of these IRC provisions can result in jail time and substantial fines. For people who find themselves out of compliance with the law, though, there is still hope. The Internal Revenue Service (IRS) has offered a number of amnesty programs to encourage self-reporting of foreign income and assets.
Offshore Voluntary Disclosure Programs
In 2009, the IRS issued its first Offshore Voluntary Disclosure Program. Under the program, taxpayers who had undisclosed foreign assets or foreign income were encouraged to come forward and make disclosures. By doing so, they generally avoided facing criminal prosecution, and they were generally able to pay a settlement amount to resolve their past legal obligations. The program was continued with some modifications in subsequent years.
By 2012, the program had reportedly brought in over $5.5 billion in tax revenue, from about 38,000 taxpayers. This revenue was pure gain for the IRS, because it is unlikely that any of it would have been collected in the absence of the amnesty program. In 2014, in an effort to... ...read full post