Tuesday, August 23, 2016

Anthony Parent & Erika Arias on Connecticut's Sales Tax Holiday

Anthony Parent & Erika Arias on Connecticut's Sales Tax Holiday
In the segment for from August 23nd of Fox61's morning news show, Anthony and Erika discuss the yearly Connecticut Sales Tax Holiday and what kind of items are exempt. http://youtu.be/poCEWZnAzlo IRS Medic

Avoiding IRS Form 926 Penalties

Avoiding IRS Form 926 Penalties
http://ift.tt/1RfwK1f - Concerned about unfiled, or misfiled IRS Forms? Contact us for help at 888-727-8796 or info@irsmedic.com (your information is subject to the attorney client privilege). We can review your returns and let you know if you have issues, and how to fix them. With over 10 years of international tax experience, we are here to help. The IRS is currently using a fairly new program call the "International Practice Units" to target easy audits that will generate the most revenue for them. One of these IPU's focuses on IRS Form 926. It's fairly easy for them to track down people and businesses that should have filed it and quickly search to see if it was filed. For example, if you filled out Form 5471, you may need to also fill out Form 926. The penalties for not filing, or mis-filing this form are 10% of the fair market value of the transferred property (up to $10,000), and an open assessment on your returns. In this video, Attorney Parent and Claudine discuss what to do if you're concerned about this issue). IRSMedic.com is the website for Parent & Parent LLP, a tax law firm of IRS resolution attorneys, Certified Public Accountants, and Enrolled Agents who want to be the team that permanently resolves your tax problem where others have failed. We have developed a proven system of solving any tax problem in the least amount of time, for the smallest amount of headache. We serve US taxpayers worldwide for IRS, US Tax Court and state revenue agency issues. 888-727-8796 info@irsmedic.com Serving U.S. taxpayers worldwide http://youtu.be/DvW_A3lMxQ4 IRS Medic

Thursday, August 18, 2016

Is tax reform possible? Then we wouldn't need things like "Tax Free Weeks"...

Is tax reform possible? Then we wouldn't need things like "Tax Free Weeks"...
http://ift.tt/1RfwK1f In this video, Anthony and Claudine talk about the possibility of tax reform, and how it would affect our outlook on taxation. Would it cut down on lobbying, and pandering to taxpayers with things like "Tax free weeks?" And do tax free weeks actually stimulate the economy? Parent & Parent, LLP - The IRSMedic 888-727-8796 info@irsmedic.com IRSMedic.com is the website for Parent & Parent LLP, a tax law firm of IRS resolution attorneys, Certified Public Accountants, and Enrolled Agents who want to be the team that permanently resolves your tax problem where others have failed. We have developed a proven system of solving any tax problem in the least amount of time, for the smallest amount of headache. We serve US taxpayers worldwide for IRS, US Tax Court and state revenue agency issues. http://youtu.be/16JQQ4hP6u8 IRS Medic

Tuesday, August 16, 2016

IRS International Practice Units - What they are, and why they're important

IRS International Practice Units - What they are, and why they're important
http://ift.tt/1RfwK1f If you are concerned that you may be audited, or need any tax help - contact us. 888-727-8796 or info@irsmedic.com. We are an actual law firm with attorney's, CPA's, and Enrolled Agents. The IRS seems to have a new target for audits. The agency is understaffed, yet they still need to bring in revenue! They have created something called International Practice Units (or IPUs) to help them target people and businesses that will bring easy revenue for them. In this video, we talk about who will be targeted (anyone from expats to LB&I's and MNC's), why, and what they can do about it. A list of all the current IPU's: http://ift.tt/2bbtFTb Parent & Parent, LLP IRSMedic 888-727-8796 info@irsmedic.com All communication is subject to the attorney client privilege. http://youtu.be/b1l5hriEvJM IRS Medic

Wednesday, August 10, 2016

Can you be liable for someone else's unpaid tax bill?

Can you be liable for someone else's unpaid tax bill?
http://ift.tt/1RfwK1f If you have a payroll tax issue, contact us to schedule your confidential consultation at 888-727-8796 or info@irsmedic.com. Can you be liable for unpaid taxes even if you aren't the employer? The answer is yes. Here are two examples: 1) If the IRS deems you to be a "responsible person" at the business. 2) If you are married to the employer and you file jointly with the employer. This is true even if you had no knowledge of the the unpaid tax, even if you had no control, even if you didn't receive any profits from the business. There are solutions to getting rid your spouses -- or that of someone else-- unpaid payroll taxes. In this video, Attorney Anthony E. Parent talks about your options including innocent spouse and an Offer in Compromise. Learn more about our services and fees here: http://ift.tt/1TUcrWR IRSMedic.com is the website for Parent & Parent LLP, a tax law firm of IRS resolution attorneys, Certified Public Accountants, and Enrolled Agents who want to be the team that permanently resolves your tax problem where others have failed. We have developed a proven system of solving any tax problem in the least amount of time, for the smallest amount of headache. We serve US taxpayers worldwide for IRS, US Tax Court and state revenue agency issues. Parent & Parent, LLP "Real tax attorneys for tough tax problems" 888-727-8796 info@irsmedic.com http://youtu.be/QfbDxgm93aw IRS Medic

Tuesday, August 9, 2016

Are payroll taxes excluded from the Foreign Tax Credit? Maybe.

Are payroll taxes excluded from the Foreign Tax Credit? Maybe.
For more commentary and insight on this decision see Part II: https://youtu.be/8pjykNCAYk8 The answer to this question is "it depends." If the country you are paying payroll taxes includes payroll taxes into the Totalization Agreement, you likely will not get a credit for those payroll taxes. If on the other hand, if payroll taxes are not included in the Totalization Agreement, they will likely be allowed as a credit. A Totalization Agreement is like a tax treaty but it involves social security so it is the Social Security Administration makes a quasi-treaty with other countries involving social security like payroll taxes. The US-France Totalization Agreement can be found here: http://ift.tt/2aPIhIH So how does it work in real life? In this video, we discuss a recent DC Circuit Court case, Eshel V Commissioner and lay out the facts why the Tax Court held that the French Payroll taxes were not allowed as a credit. @IRSMedic http://youtu.be/1LZfcj3Ffrw IRS Medic

Monday, August 8, 2016

Are you smarter than a circuit court judge? Understanding the foreign tax credit

Are you smarter than a circuit court judge? Understanding the foreign tax credit
Watch this video and you'll be amazed at how much you'll understand about one of the most complicated international tax issues. You'll see how "smarter minds" get confused themselves and punt the problem to someone else to solve. The case of Eshel v. Commissioner, decided August 5, 2016, by the DC Circuit Court of Appeals admittedly is not for the faint of heart. However, by the end of this video, you will understand the court's concluding statements below or your money back*: "The Totalization Agreement is an international executive agreement that must be interpreted in light of its text and the shared expectations of the contracting governments. Because the tax court committed legal error in its analysis of those question, we reverse the judgment of the tax court and remand for further proceedings consistent with this opinion." We could just claim this is a Reason #5497 why international taxation is so blisteringly mind-boggling complicated and leave it at that. But no. We go head first, risking our own lives** and confronting the demons that lurk behind convoluted international tax court decisions***. However, that would be the easy way out. A foreign tax credit is a credit you are able to apply to your tax bull to taxes actually paid in a foreign jurisdiction. However, not all taxes qualify. In order to qualify, the tax must be related to income. But not all income-related taxes qualify. Oh wait. Now it just got more confusing. Just watch the video. This will all totally make sense. Trust us.**** * No money back. ** Our lives not actually risked. *** No demons actually confronted. **** This one comes back clean. It is OK to trust us. http://ift.tt/1RfwK1f http://youtu.be/8pjykNCAYk8 IRS Medic