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...
IRS Resolution attorney Mary King has opened a new office location serving southwest Florida in downtown Punta Gorda.
Jan 01, 2014
The new office will serve the entire southwest Florida area from North Port down to Naples by helping troubled tax payers negotiate debt reduction settlements with the IRS.
Expanding from Sarasota the law Office of Mary King has worked with clients across Florida from Jacksonville to Miami and even helped international clients resolve IRS issues. The n... read story...
Preparing For Several Types Of IRS Audits
Getting an IRS audit can be quite frustrating. However, if you know your rights, then it will be a lot easier for you to deal with an audit. It is a good idea to get legal help for audit. In fact, you should contact a professional as soon as you get a notice saying that you have been audited. Ignoring the problem will not make it go away.
Before you get IRS audit help, it is important to note that there are four types of audits. You will have to prepare differently for each type of audit.
This is an IRS audit that is less common than the other types of audits. The Internal Revenue Service will send you a letter in the mail saying that you need to send in a certain part of your return. They may ask you questions about your charitable deductions and ask you to send in your receipts. This will typically not cause any issues if you are able to send in the information that they request.
In fact, if you have a legitimate tax return and the other necessary information, then you may... ...read full post
How To Respond To An Offer In Compromise Rejection
An Offer In Compromise is a settlement that one makes with the Internal Revenue Service. A person will make a lump sum payment that is less than what they originally owed. An Offer In Compromise can alleviate the tax burden that one is experiencing. Unfortunately, Offer In Compromise rejection is not that common. In fact, the Internal Revenue Service rejected 57.4 percent of the offer in compromise applications in 2014.
Reasons for Offer In Compromise Rejection
- The Internal Revenue Service believes that the amount is too low, and you will need to pay more.
- You have high expenses or are living above your means.
- The Internal Revenue Service believes that you are able to pay the full amount that you owe.
It is important to remember that a rejection is not the same thing as a return. You have the right to get an Offer In Compromise apeal if your application is rejected. However, you cannot get an appeal if your application is returned. Here are some of the reasons your application may be returned:
- The Internal Revenue Service requested additional information, and... ...read full post
5 Tips for People Who Owe Money to the IRS
Owing the IRS back taxes can make you feel like you don’t have any options. But you do have your rights as a taxpayer, there is a law adopted by the IRS called the "Taxpayer Bill of Rights." Everyone has options, especially if you act quickly. Below are some tips for people who owe back taxes to the IRS.
1. Pay in Full if Possible
If you are able to do so at all, it is always in your best interest to pay the whole amount you owe in full. This is best because it will save you from having to pay hefty penalties and interest. After penalties and interest accrues, it can be even more difficult to convince the IRS to work with you.
2. Request Penalty Relief
As a taxpayer, you have the right to give the IRS more information to help back up your claim that you owe less in taxes than they are requesting. Also, you may offer information to suggest that you should be considered for penalty relief from paying the full amount due. Some reasons people qualify for this type of relief may be due to illnesses or military... ...read full post
How to Get Rid of Your Tax Lien
A tax lien affects every part of your life, but what you may not have known is that it actually can negatively affect your credit. It can cause your credit score to drop by dozens or even hundreds of points. And the effects of the lien won't go away quickly.
Tax liens can appear on your credit report for an indefinite period. However, most credit bureaus will remove them after ten years. Once the tax lien gets paid and released, it must be removed from your credit report seven years after it got initially filed.
Not every taxpayer that has a tax lien knows about it. The Notice of Federal Tax Lien, or NFTL for short, is a tool that the IRS uses to tell your creditors that you owe a tax debt. If you're not able to pay your tax debt, the IRS may file an NTFL. If you owe more than $10,000, the filing of the NTFL will be automatic.
When the NTFL gets filed, the credit reporting agencies will pick it up. Models of credit scoring don't like tax liens, and the effect on your credit scores can be similar to bankruptcy,... ...read full post
What to Do With Your Foreign Bank Account
For many years, many Americans used foreign bank accounts to hide money from the IRS without fear. In an effort to crack down on this problem and ensure that American citizens pay all required taxes on their income, the IRS has recently begun suing various foreign banks and basically attempting to eliminate the offshore banking secrecy protections that have long been in place.
These efforts have led to dramatic changes that affect all Americans with bank accounts in foreign countries. Whereas your money may have been safely hidden in years past, the IRS now requires all foreign banks to provide reports on all American-owned accounts. Furthermore, it is now considered a crime to fail to report any foreign accounts and foreign income. Almost all foreign banks are now cooperating with the IRS and automatically turning over all information about American-owned bank accounts.
What to Do If You Have a Foreign Bank Account?
The legal actions the IRS has taken against numerous foreign banks have completely eroded most banking privacy rules, which means that anyone who has not reported should be worried. This not only includes those with personal offshore accounts, but also any company-held accounts... ...read full post