Thursday, December 22, 2016

Paper returns, the Alternative Minimum Tax (AMT) and fraudulent CP2000 notices

Paper returns, the Alternative Minimum Tax (AMT) and fraudulent CP2000 notices
NOTE: IT IS LINE 33, NOT LINE 31 MENTIONED IN VIDEO THAT THE SOFTWARE CUTS OFF AT. There are new tax scams where people receive fraudulent IRS notices that try to strong arm them into paying money the scammers are not entitled to. A big telephone scam was recently shut down in India, and another will certainly rise from the ashes. So, it is safe to say that taxpayers will always have to worry about fraudulent notices scaring them into having to pay something they don’t. Unfortunately, one could argue that they have to worry about fraudulent notices from the IRS as well. http://ift.tt/2h6UWX9 http://youtu.be/CUzqMYDcKCk IRS Medic

Tuesday, December 13, 2016

The amazing tax benefits of Cost Segregation

The amazing tax benefits of Cost Segregation
info@irsmedic.com http://ift.tt/24xCz51 In this video, Anthony and Claudine discuss the benefits of a great tax savings tool called Cost Segregation. So many people do shady (dare we say, sometimes even illegal) things to lower their tax liabilities, when there are legitimate ways to do so hiding in plain sight. Cost Segregation can be found right on the irs.gov website. Using Cost Segregation, or having a Cost Segregation Study done will NOT raise any red flags with the IRS! But...it can be confusing to do correctly. Maybe that's why only about 5% of people that are eligible use it, and use it correctly. Cost Segregation is an IRS method of "re-classifying" components and improvements of commercial and residential real estate. In this video, we talk about exactly that that means, and how it could potentially save you hundreds of thousands of dollars. It's a way to take advantage of certain depreciation values immediately, instead of waiting 39.5 years to do so. We go over the details of the program, talk about why it's important to use engineers to help you, how it can be used on prior years, and how US persons can even use this tax savings on property they own overseas. So how do you know if this tax benefit is right for you? Make sure you have a Cost Segregation Study done by a reputable Cost Seg company. If you have any questions or need additional information about using Cost Segregation, or any tax planning, contact us. IRSMedic, The Law Offices of Parent & Parent, LLP 888-727-8796 info@irsmedic.com http://youtu.be/OZOpwtrFiUE IRS Medic

Thursday, December 8, 2016

IRS announces slew of Foreign Individual Facilitators...like, actual people

IRS announces slew of Foreign Individual Facilitators...like, actual people
http://ift.tt/1RfwK1f The IRS list of Foreign Financial Institutions or Facilitators, or as we refer to it, "the Bad Boy list" has not been updated until recently. And until recently all of the names on the Bad Boy list weren't people, but entities. On November 15, 2016 that all changed as the IRS added a large amount of individuals (along with a few more entities) to the list. The 47 new names added to the list consist of 40 individuals and 7 entities, bringing the new grand total to 144. The list can be found here: http://ift.tt/2apJDIu In this video, we talk about the consequences of what this means. We also discuss the different programs, options, and penalties associated with each. The mere fact that someone you dealt with is on this the list does not automatically mean you must enter into the OVDP and pay the 50% penalty. If you have not made a disclosure yet and you recognize an individual below it is essential you understand your outcome is highly dependent on implementing the best legal strategy. We recommend you contact us for a first or second opinion. IRSMedic, the Law Offices of Parent & Parent, LLP 888-727-8796 info@irsmedic.com More about our services and fees here: http://ift.tt/1TUcrWR http://youtu.be/sneTBGC_9cw IRS Medic

Wednesday, December 7, 2016

The consequences of being an "Accidental American" with special guest Keith Redmond

The consequences of being an "Accidental American" with special guest Keith Redmond
http://ift.tt/2h70D9d http://ift.tt/1RfwK1f In this video Anthony and Claudine talk with Keith Redmond about Accidental Americans, and the tax consequences associated with being an Accidental American. Keith Redmond does extensive work globally in addressing the serious problems affecting personally and professionally the 9 million Americans overseas and associated populations by addressing the untenable taxation issues like the US practice of Citizenship Based Taxation, FATCA, the enforcement tool of Citizenship Based Taxation and its tax treaties, FAST ACT US Passport Revocation, US nationality laws as it affects Accidental Americans. Keith said it best: “The Accidental American does NOT have a US tax compliance problem; they have a US citizenship problem.” We discuss the definition of “Accidental American”, what issues they may encounter, and what options they have as they move forward. Keith will be testifying in front on the new Congress in January of 2017 as he continues his work to bring these issues and more to light. IRSMedic, the Law offices of Parent & Parent, LLP info@irsmedic.com 888-727-8796 http://youtu.be/v_PA_to9Dfo IRS Medic

Monday, November 28, 2016

Our special guest, Keith Redmond on the harm of FATCA and universal tax jurisdiction

Our special guest, Keith Redmond on the harm of FATCA and universal tax jurisdiction
LEAVE A COMMENT FOR THE TOPIC YOU WOULD LIKE US TO DISCUSS NEXT http://ift.tt/1RfwK1f In this video Anthony and Claudine talk with Keith Redmond and his efforts along with some others to repeal the terrible terrible law known as the Foreign Account Tax Compliance Act, or FATCA. a Keith is fighting for the rights of Americans overseas and the associated affected populations and will be terrifying in front on the new Congress in January of 2016. Keith Redmond is currently: - International Senior Consultant at Leadership Across Borders - Worked in the life sciences industry globally for 20 plus years doing communications, advocacy, and government relations work. - Founding Member Cercle K2, an international think tank Keith does extensive work globally in addressing the serious problems affecting personally and professionally the 9 million Americans overseas and associated populations by addressing the untenable taxation issues like the US practice of Citizenship Based Taxation, FATCA, the enforcement tool of Citizenship Based Taxation and its tax treaties, FAST ACT US Passport Revocation, US nationality laws as it affects Accidental Americans. http://youtu.be/7s-8iXmrDt8 IRS Medic

Tuesday, November 15, 2016

Why US Brokerage Accounts of Americans are Being Closed with Tom Zachystal from www.iamadvisors.com

Why US Brokerage Accounts of Americans are Being Closed with Tom Zachystal from www.iamadvisors.com
http://ift.tt/2gchsTx http://ift.tt/1RfwK1f We are joined today by Tom Zachystal , President of Individual Asset Management, a US Registered Investment Advisor specializing in investment management and financial planning services for American Expats. Americans abroad are being informed by U.S. banks and brokerage firms that their accounts have been restricted or even closed due to their status as non-U.S. residents. This is happening with financial institutions such as Morgan Stanley, Fidelity, Merrill Lynch and Wells Fargo. There are two issues; brokerage accounts and US mutual funds. This is not so much a problem for taxable accounts, which could possibly be moved to the country of residency, but big problem for tax-deferred retirement accounts. There are definitely work arounds to the issue. We talk about the important questions to ask, time limits to request a waiver, and what to do if you miss an opportunity to rollover. Tom also discusses the importance of being proactive with financial planning as well as investment management. A pure brokerage or investment management firm may offer you only the one solution that is best for them or easiest for them to implement. A financial planning firm will consider alternatives and discuss them with you – a great example is whether it might be a good idea to transition money in a traditional IRA account to a Roth account. Feel free to contact Tom at www.iamadvisors.com for assistance. IRSMedic, the law offices of Parent & Parent, LLP 888-727-8796 info@irsmedic.com Helping US taxpayers around the world http://youtu.be/v3m6lN9Kjio IRS Medic

Thursday, November 10, 2016

Time for a change: The US-Australian Tax Treaty with Dr. Karen Alpert

Time for a change: The US-Australian Tax Treaty with Dr. Karen Alpert
https://www.irsmedic.com/2016/05/20/join-us-superannuation-funds-group/ In this video, we are joined by Dr. Karen Alpert to talk about common issues that expats encounter when living and working overseas. Tax traps, FATCA, and the new difficulty in getting a bank account overseas when you are a US person. Karen has experienced this and more as she and her family have been living and working in Australia for many years. This has added another layer of frustration as they quickly learned that the Australian Superannuation funds and US/Australia tax treaty were not the easiest things to navigate. As Karen leaned more and more about the tax treaty, she decided that she was going to take action. She, her husband, and daughter all renounced their US Citizenship; an action she did not take lightly. Next, she created a plan to try to make positive changes to the treaty and other issues. Karen created http://fixthetaxtreaty.org/, and a Facebook group; Fix the Australia/US Tax Treaty! She hopes to educate people, help others that may be experiencing the same issues, give specific actions people can do to help the cause, and - most importantly - work directly with the government to make suggestions and work to change to the current laws. We encourage you to visit Karen's website. IRSMedic, the Law Offices of Parent & Parent, LLP Serving US Taxpayers worldwide 888-727-8796 info@irsmedic.com http://youtu.be/38GGtXhmfBM IRS Medic

Monday, November 7, 2016

Total Tax Diagnosis with Kona, the IRSMedic super-dog.

Total Tax Diagnosis with Kona, the IRSMedic super-dog.
http://ift.tt/2fwsD7R We had a little bit of extra time, an IRSMedic banner left over from the New Haven GP, and our gorgeous super-dog, Kona, was just begging for a starring role. What do you think? Does she represent the brand well? http://youtu.be/Ul3Y3_PIBnc IRS Medic

Total Tax Diagnosis with Kona, the IRSMedic super-dog.

Total Tax Diagnosis with Kona, the IRSMedic super-dog.
http://ift.tt/2fwsD7R We had a little bit of extra time, an IRSMedic banner left over from the New Haven GP, and our gorgeous super-dog, Kona, was just begging for a starring role. What do you think? Does she represent the brand well? http://youtu.be/CWXit6P4VgY IRS Medic

Friday, November 4, 2016

Before you take the bait...

Before you take the bait...
http://ift.tt/2eHj7Lw The Fresh Start initiative was created to “encourage taxpayer utilization and improve successful resolution and payment of tax liabilities.” Basically, make it easier for the IRS to collect back tax debts. Are there benefits? Sure. Especially to the IRS as it helps them get more revenue. They changed some of the guidelines of existing programs to make things like an Offer In Compromise, Installment Agreements, and Penalty Abatement “easier” for taxpayers to use. The “Fresh Start Program” – sounds like you are wiping the slate clean, but it’s not really a “forgiveness program”. What it actually is, is a marketing program designed to make taxpayers expose themselves to the IRS. What happens is you hear about this program and you let your guard down, so you call the IRS. You may not be speaking to the right person about your issue. And once you call, you could be raising a red flag about your issue and put into the automated collection process. In 30 days you begin receiving notices from the IRS. It’s a great way for the IRS to figure out what they can actually get from you. If you need assistance, contact us BEFORE you call the IRS. Is there a possibility you could easily reach out to them and simply solve your tax issue? Sure, a tiny possibility. But there's a greater chance you could end up raising unnecessary red flags. Get professional advice first. IRSMedic, the Law Offices of Parent & Parent, LLP 888-727-8796 info@irsmedic.com http://ift.tt/1RfwK1f For more about our services and fees, visit: http://ift.tt/1TUcrWR http://youtu.be/gwK9aWzTX9c IRS Medic

Wednesday, November 2, 2016

Should I call the IRS myself?

Should I call the IRS myself?
http://ift.tt/1RfwK1f People are concerned about calling the IRS, they often wonder if doing so will raise red flags. The first question our clients ask us is "Will hiring an attorney make me look guilty?" The answer is no. The person that is reviewing the Power of Attorney that we submit is doing just that. They are not opening your case or looking at any of your tax details. Now, if you contact the IRS on your own the first thing they do is look up your info and verify your identification. Next, they let you know if you owe anything to the IRS and ask if you would like to pay the balance in full (they accept credit cards!). They may try to strong arm you or intimidate you. It's important to be objective; don't get defensive or emotional. If you choose not to pay in full (and you really should not agree to that), the IRS will then tell you that you have 30 days to get back to them with your financial info. While they won't be following up with a phone call to you, your case is now coded and is part of a collection process. This will initiate the IRS "notice stream" and you will begin getting collection letters after that 30 days. If you instead choose to have representation call the IRS on your behalf, they can gather all of the appropriate information needed to find out exactly what's going on with your case. This way, they can come up with a plan of exactly how to address your issue. Another benefit of having representation call the IRS is that they will have more experience in negotiating with the IRS. You need to know how to communicate with them in the best way possible. A professional will also understand how structure your financial information and allowable expenses in the most beneficial way possible. If you have a tax issue you need assistance with, don't hesitate to contact us. With over 10 years of experience in dealing with the IRS, our team knows what to say...and what not to say to them. Our in house team of attorneys, CPAs, Enrolled Agents and tax preparers are here to fight for you. IRSMedic, the Law Offices of Parent & Parent, LLP Serving US taxpayers worldwide 800-727-8796 info@irsmedic.com More about our services and fees here: http://ift.tt/1TUcrWR http://youtu.be/nRiumsYhGyI IRS Medic

Thursday, October 27, 2016

How will bankruptcy affect FBAR penalties?

How will bankruptcy affect FBAR penalties?
FBAR penalties can be severe. We often have clients ask how bankruptcy will affect their FBAR penalties. http://ift.tt/1TUcrWR In this video, we talk first about how FBAR penalties are collected. Collecting FBAR penalties is not like collecting back taxes. Aside from intercepting tax refunds, the government actually has to file a lawsuit to collect FBAR penalties it has assessed. The government also has a limited amount of time to file a lawsuit to recover FBAR penalties. This is called the ‘FBAR Collection Statute Expiration Date’ (CSED). The FBAR CSED is two years from the date of the assessment of FBAR penalties. Generally, the IRS has 10-years to collect on an assessed tax debt. Normally, when you file bankruptcy, the CSED on taxes stops, or tolls. But with the FBAR — the CSED does not toll in Bankruptcy. So, if your bankruptcy petition is open for 12 months, that would be a year (plus some additional time) your CSED on taxes won’t run. This gives the IRS additional time to collect after you are no longer in bankruptcy (this assumes the Bankruptcy did not discharge your tax debts). Yet, if you file for Bankruptcy the two-year FBAR CSED continues to run! This means the government will be given at least 30-days to file a suit after the bankruptcy is withdrawn or closed-out. So, according the I.R.M 5.9.4.20.16, the technical answer is no, bankruptcy will not discharge FBAR penalties. But there are legal ways to use bankruptcy to your advantage. If you need assistance with a domestic of offshore tax issue, contact us. With over 10 years of experience, we know how to successfully navigate the muddy waters of the IRS. Any information you share will be subject to the attorney client privilege and will be kept confidential. http://ift.tt/24xCz51 IRSMedic, the Law offices of Parent & Parent, LLP 888-727-8796 info@irsmedic.com Serving taxpayers worldwide http://youtu.be/go9OR3WCnR0 IRS Medic

Wednesday, October 26, 2016

Obamacare penalties and IRS tax debts

Obamacare penalties and IRS tax debts
Obamacare is confusing enough on it's own, but it's also important to understand how it will affecting any past or future tax debts. If you need assistance with you tax issue, don't hesitate to contact us. http://ift.tt/1TUcrWR Obamacare imposes a penalty on individuals if they don’t carry health insurance and don’t qualify for an exemption. The maximum Obamacare penalty for 2015 is $975, but is increasing to $2085 in 2016. The penalty is called the “Shared Responsibility Payment,” or “SRP.” The IRS is in charge of administering assessment and collection of the SRP. But, due to how the law was written, the IRS does not have the same ability to collect the SRP as it does with unpaid income taxes. They can levy or garnish bank accounts and wages to pays for tax debts, but for these Obamacare penalties, the IRS is usually left to intercepting refund checks, if any. Many people have owed or will owe taxes along with an SRP. The problem is that new IRS tax debts default tax settlements — both installment agreements and Offers in Compromise. So how does the SRP work with both accepted and proposed installment agreements and Offers in Compromise? In this video, Attorney Parent and Claudine discuss the following scenarios: If you have an existing installment agreement and you incur additional SRP penalties only. Will this default your agreement? If you have an existing installment agreement and you incur an SRP and new tax liabilities. Would this default your existing Installment Agreement? If you owe taxes and SRP and want to get an Offer in Compromise accepted, can you roll in the SRP? (and should you?) And finally, if you had an Offer in Compromise accepted, but you have have just been assessed with an SRP. Will this SRP default your Offer in Compromise? If you need assistance with an Installment Agreement, Offer in Compromise, or any tax issue, contact us at 888-727-8796 or info@irsmedic.com. Your information will be kept confidential and is subject to the attorney client privilege. IRSMedic, the Law Offices of Parent & Parent, LLP Servicing US taxpayers worldwide http://ift.tt/24xCz51 http://youtu.be/I8IQuDt0H5Y IRS Medic

Monday, October 24, 2016

OVDP - Changes to the Offshore Voluntary Disclosure Program FAQ's

OVDP - Changes to the Offshore Voluntary Disclosure Program FAQ's
http://ift.tt/2dGzb1L There have been a couple of small changes to the IRS posted OVDP FAQ's. In this video, we talk not only about the changes, but our irritation when it comes to others trying to instill fear in taxpayers through agitation. Recently, we've seen haedlines like: "Beware of FAQ changes! Be careful out there!" The US tax code is already the most complicated thing in the history of time. Instilling fear is unnecessary. Taxpayers need help, not fear. The changes made are:  There was a duplicate paragraph they removed  The LDC fax number to request pre-clearance before making an offshore voluntary disclosure has been changed to 267-466-1115.  And a phone number change: “For all other offshore voluntary disclosure questions call the IRS OVDP Hotline at 267-466-0020.” If you need help with any offshore program, contact us to schedule a consultation. We won't try to scare you or make you commit to a program you don't need to sign up for. Your information will be kept confidential, and is subject to the attorney client privilege. info@irsmedic.com 888-727-8796 IRSMedic, the Law Offices of Parent & Parent, LLP Serving US taxpayers worldwide For more about our services and fees visit: http://ift.tt/1TUcrWR http://youtu.be/LODz8f4VGqI IRS Medic

Friday, October 21, 2016

Voluntary Disclosure of Foreign Assets & Income - When you need help

Voluntary Disclosure of Foreign Assets & Income - When you need help
http://ift.tt/2dGzb1L It is easy to get into trouble with the IRS. First, some things you may think of as non-taxable are things the IRS wants to know about… and collect taxes on. Foreign pensions, foreign life insurance, foreign gifts and trusts, and foreign bank accounts. If you own any of these, you probably have a reporting requirement. Second, something called “Universal Tax Jurisdiction” creates a lot of confusion. What it boils down to is that the US is the only country in the world that effectively taxes based on citizenship status. So, even if you're a US citizen living and working overseas, you're still subject to the IRS. The IRS has made it clear that they are looking for tax returns and incorrect voluntary disclosures with technical errors to scrutinize. They are looking at taxpayers as targets for quotas, and not as actual people. The IRS is the most complicated thing in the history of history. International taxation is even more complicated! We do not expect our clients to have a full (or even partial) understanding of the IRS. We know that you are probably confused, and don’t know the right questions to ask. We expect you to be nervous —with everything at stake, who wouldn’t be? If you’re concerned and need help, contact us to set up a consultation. Your information is subject to the attorney client privilege. 888-727-8796 or info@irsmedic.com. IRSMedic is the law office of Parent & Parent LLP, and we have over 10 years of experience in dealing with international tax issues like yours. We can answer questions like: Do you really have to pay the 27.5% (0r 50%) offshore, FBAR penalty? What if your bank is “blacklisted”? How to find out if you are really “willful.” Are there alternatives to using the Offshore Disclosure Program? How can you keep your wits about you through this whole process? Remember, you have the moral high ground — not the IRS. We have clients all around the globe, and while every case is unique, your issues — no matter how complicated — are probably things we have seen before and have dealt with successfully. http://ift.tt/1TUcrWR http://ift.tt/24xCz51 IRSMedic, the Law offices of Parent & Parent, LLP Located in Connecticut, serving taxpayers around the globe http://youtu.be/l6Xq4aYUV7M IRS Medic

Tuesday, October 18, 2016

Determining US Shareholder and CFC status for your Corporation

Determining US Shareholder and CFC status for your Corporation
http://ift.tt/1RfwK1f The IRS has publicly stated that they are targeting international issues in their audit process. They have even created something called an IPU, or International Practice Unit. These IPU's breakdown how to audit certain situations for the IRS employees. The IPU on determining US Shareholder and CFC status is an important one. Once the IRS determines this, they can then audit all the reporting requirements that go along with that status. For instance, did you file Subpart F or Form 5471? If not, there are steep penalties that you could owe. In this video, we talk about the IPU instructions. They list step by step instructions for the auditor to follow. First, they must determine if the foreign corporation is a CFC. This is dependent on the stakes that US shareholders hold in the corporation. They also outline what exactly makes someone a US shareholder. Once a determination is made, the IRS outlines exactly what other IPU's should be investigated to make sure you are in compliance! Even if they find you do not meet the CFC standards, they will still investigate other alternatives. And let's say we found some loopholes in their determination facts. If you have any questions about your corporation, or an international or domestic tax issue contact us for a consultation. Any information you share with us is subject to the attorney client privilege. IRSMedic, the law offices of Parent & Parent, LLP 888-727-8796 info@irsmedic.com http://youtu.be/9MRgvd4XL7M IRS Medic

Wednesday, October 12, 2016

How non-US persons can avoid tax traps when living or investing in the United States

How non-US persons can avoid tax traps when living or investing in the United States
http://ift.tt/2e7WQ94 The United States is the land of opportunity for non-US persons that are looking to live or invest here. It is also full of dangerous tax traps. The good news is that many of these traps can be avoided. In this video, we talk about the four biggest tax traps for those looking to live or invest in the US and how to avoid them. Trap #1 - the Capital Gains trap We discuss what a capital gain is, and what to do before you become a US citizen is if you own stocks. Trap #2 - the Foreign Life Insurance trap Bear in mind what "foreign" means in this case! It means "non-US". If you are from China and have a Chinese bank account, it's not foreign to you! But it is foreign to the US. Foreign life insurance is not considered to be life insurance under the US tax code. It is treated as an investment, which means you are taxed much more on it! also, you are also going to pay a 1% excise tax it...not yearly, but quarterly. The good news is that if you have any foreign life insurance, there are ways to handle it. Trap #3 - the Ownership of Real Estate Real estate should not be in your name for both tax and liability purposes. You need a plan in place to avoid heavy estate taxes (up to 35%!). Also bear in mind that if you own rental property, you will be taxed on that income. Trap #4 - Foreign Reporting Requirements There are NUMEROUS IRS forms that need to be filled out, some quarterly and some yearly. If you fail to file these forms, there are severe monetary penalties. You need to report things like foreign bank accounts and assets, mutual funds, and partnerships, just to name a few. If you are considering becoming a US person, or living/investing in the US, make sure you have a plan in place to avoid these nasty tax traps. Contact us for assistance. Our team of attorneys, CPAs and tax planners have international experience. Any information you share with us is subject to the attorney client privilege. 888-727-8796 info@irsmedic.com IRSMedic - The law offices of Parent & Parent, LLP http://youtu.be/toqTlc_oPDU IRS Medic

Monday, October 10, 2016

What medical expenses can be deducted from your taxes?

What medical expenses can be deducted from your taxes?
http://ift.tt/1TUcrWR A lot of people don't know that you can deduct some medical expenses on your taxes! It's important to understand all of the rules the IRS has about who can claim these deductions, and what are considered allowable expenses. The IRS allows you to deduct qualified medical and dental expenses if they exceed 10% of your adjusted gross income (AGI) for the tax year. Right now if you or your spouse is 65 or older, the threshold is 7.5% of your AGI, but that is scheduled to increase to 10% in 2017. You can add together expenses for yourself, your spouse, and your dependents. This actually includes not only your children, but "qualifying relatives" such as siblings and parents. In the video, we also discuss what is a "qualified" medical expense, along with the single most important thing to do if you are going to take advantage of this tax deduction. If you need assistance with any tax prep, planning, or resolution, contact us. We're here to help. IRSMedic, the law offices of Parent & Parent, LLP 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://ift.tt/1jKT9Ip http://youtu.be/TWyoWCfE5pU IRS Medic

Tuesday, October 4, 2016

How long should I keep my tax records?

How long should I keep my tax records?
http://ift.tt/1RfwK1f We have had so many clients ask us this question. As with many IRS and tax issues, the answer is "it depends". In this video, Attorney Parent and Claudine discuss why you should err on the side of caution and hold on to them as long as possible. There are two instances in which you may need to hold onto your tax records indefinitely. First, if the IRS suspects you filed a fraudulent return. But wait, if you didn't file a fraudulent return you would have gotten rid of your records so how would you be able to prove it wasn't fraudulently filed?! Second, the IRS is outright targeting those who have money overseas. There are many reporting requirements for those that have money in offshore accounts. With many of the forms, if you do not file them (or improperly file them), your return could remain open for assessment FOREVER. Learn more about the ASEDs here (assessment statute expiration date). 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. If you need assistance with a tax issue or tax planning, contact us. We're here to help. IRSMedic The Law offices of Parent & Parent LLP 888-727-8796 info@irsmedic.com http://youtu.be/mzyOPW2fzc4 IRS Medic

Friday, September 16, 2016

Total Tax Diagnosis by IRSMedic

Total Tax Diagnosis by IRSMedic
http://ift.tt/2cLbe9W Video introduction to Total Tax Diagnosis by IRSMedic. Find out about your history with the IRS so you can find the best solution for you. A real diagnosis of your tax matter so you can find real relief. http://ift.tt/1RfwK1f 888-727-8796 ttd@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/eZuREwL7wjQ IRS Medic

Friday, September 9, 2016

IRSMedic, Parent & Parent LLP - Total Tax Diagnosis

IRSMedic, Parent & Parent LLP - Total Tax Diagnosis
http://ift.tt/2bYeDxM If you have a tax issue you need assistance with, contact us. 888-727-8796 or info@irsmedic.com. In this video, Attorney Anthony E. Parent and Claudine Gindel talk about some of the services offered by IRSMedic - Total Tax Diagnosis. TTD Services Total Tax Diagnosis Report: The goal of the report is to find out what the IRS thinks about you – this is critical to figuring out how to solve the problem. Some things the report will show are: - The Penalty and interest amount that the IRS claims you owe - Exactly what returns have been filed – are there any missing or incorrectly filed returns? - If you are you eligible for First Time Penalty Abatement - If the IRS is actively trying to levy or garnish you - If your tax debt could be discharged in bankruptcy - When the IRS loses its’ ability to collect your tax debt - How to get proof of every letter the IRS claims they sent you - Whether or not you’re at a heightened risk of being audited - Where your tax payments have been applied, and if the IRS lost any of your money! You'll also get the IRSMedic Handbook; this breaks down the report so you can understand the information. You can book a Strategy Session; our team of Enrolled Agents, CPA’s and Attorneys will review your investigation. You will be scheduled for a one-on-one strategy session with a tax resolution specialist. You will be given legal guidance as well as suggested strategies in writing on how to rid yourself of an IRS problem forever. If you don’t think you got your value, you can simply request a full refund. For information about the different packages, visit http://ift.tt/2bYeDxM 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/IRjpM9uYclQ IRS Medic

Thursday, September 8, 2016

What exactly is a "Foreign Bank Account"?

What exactly is a "Foreign Bank Account"?
http://ift.tt/1RfwK1f If you need assistance with a domestic or international tax problem, contact us at info@irsmedic.com or call 888-727-8796. Thanks to the Bank Secrecy Act of 1970, there are strict reporting requirements of offshore bank accounts on an FBAR form. Not to mention hefty penalties for non-filing. But...there is no official list, anywhere, of what exactly a foreign bank account is. In this video, Attorney Parent and Claudine discuss things like online gambling accounts and Bitcoin - should they be reported? 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. Learn more about our services and fees here: http://ift.tt/1TUcrWR Fill out our online submission form here: http://ift.tt/2c0WYbY http://youtu.be/5ZRoOOhmkCQ IRS Medic

Tuesday, September 6, 2016

Israel stands up to FATCA

Israel stands up to FATCA
Need help with a tax issue, or offshore reporting requirements? Contact us at info@irsmedic.com or 888-727-8796. http://ift.tt/1RfwK1f We've talked extensively about FATCA's affect on US taxpayers, especially those living and working overseas. It's an intrusive law requiring US taxpayers to report certain foreign financial accounts and offshore assets to the IRS. But FATCA is more than just that; there is now officially a requirement that affects international financial institutions as well. Effective September 30, 2016, all non-U.S. financial institutions globally have to report financial information of American clients and U.S Green Card holders who have accounts holding more than $50,000 directly to the IRS. All along, we've been hoping that some country, any country, would stand up to the U.S. We thought for sure that the invasive nature of the program plus the extremely high costs of implementation would cause some kickback. At first it seemed that all of the countries were simply too afraid to fight the Superpower bully. Until Israel. Just days prior to the program going into operation, Justice Hanan Meltzer ordered officials to stop work leading up to implementation. Meltzer, a judge in the Supreme Court of Israel. made his decision because of Rinat Schreiber. Schreiber, a dual citizen of the US and Israel, filed a tort claiming that FATCA violated the nation’s Basic Law on Human Dignity and Liberty. His argument is that the reporting requirement contradicts right to privacy, property, and equal treatment. We agree with him. Some additional information from Nigel Green here: http://ift.tt/2clLijn IRSMedic, the law offices of Parent & Parent LLP Helping US taxpayers around the globe for over 10 years 888-727-8796 info@irsmedic.com http://youtu.be/St_GWDi3p-M IRS Medic

Tuesday, August 30, 2016

FinCEN expands Real Estate 'Geographic Targeting Orders' for large transactions

FinCEN expands Real Estate 'Geographic Targeting Orders' for large transactions
http://ift.tt/1RfwK1f If you have a tax issue or question (domestic or international), don't hesitate to contact us at 888-727-8796 or info@irsmedic.com. Back in April we talked about FinCEN's (Financial Crimes Enforcement Network) latest press release/project: “FinCEN takes aim at real estate secrecy in Manhattan and Miami. ‘Geographic Targeting Orders’ requires identification for high end cash buyers”. This was effective March 1, 2016 and was set to expire on August 27, 2016. Alas - it did not expire...instead the program was expanded. The originally targeted areas were Manhattan, and Miami-Dade County, FL. In this video, we talk about the expanded areas, the new reporting dollar amount thresholds, and the scope of "covered transactions". ***Jurisdiction Price Thresholds*** The Borough of Manhattan $3,000,000 The Borough of Brooklyn $1,500,000 The Borough of Queens $1,500,000 The Borough of Bronx $1,500,000 The Borough of Staten Island $1,500,000 Miami-Dade County $1,000,000 Broward County $1,000,000 Palm Beach County $1,000,000 San Diego County $2,000,000 Los Angeles County $2,000,000 San Francisco County $2,000,000 San Mateo County $2,000,000 Santa Clara County $2,000,000 Bexar County $500,000 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 http://youtu.be/s-r5RWwJ2bQ IRS Medic

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

Tuesday, August 2, 2016

Tax Preparations Services at IRSMedic/Parent & Parent LLP

Tax Preparations Services at IRSMedic/Parent & Parent LLP
Need help with tax prep, tax planning, or a tax problem? Contact us at 888-727-8796 or info@irsmedic.com. Our team of Enrolled Agents, CPA's and Tax Attorneys specialize in complicated tax returns. Here at the law firm of Parent & Parent LLP/IRSMedic, we started out fixing the things that can go wrong with tax returns and offshore reporting requirements. But what if you didn't have to wait for something to go wrong before you hired us? What if you could hire us to avoid something going wrong? With over 10 years of experience of fixing the toughest tax problems, we know how to do it once, and do it right. You can rest easy knowing your finances are in our hands. - We prepare both complicated personal, and business tax returns - We specialize in helping US citizens investing worldwide, and expats – those living and working overseas - We are familiar with the intricate details needed to complete IRS forms such as Forms 1120, 1120-C, 1065, 5471, 5472, 8858, and 8621 - Our team understands FATCA, FBAR, and other foreign reporting requirements such as BE-10 - We stay up to date with tax treaty, tax law, and reporting requirement changes - If we see that you do have any reporting requirement issues, or have an area where you can save money on taxes, we can help! To discuss tax preparation or tax planning, call us at 1-888-727-8796, send an email to info@irsmedic.com, or fill out our online contact form. We can meet with you in person or conduct a teleconference; our clients are from all over the world and over 90% don’t ever step foot in our office. www.irsmedic.com Parent & Parent LLP http://youtu.be/NYUHvzQLhww IRS Medic

Thursday, July 28, 2016

FATCA updates from the lawyers at Parent & Parent LLP/IRSMedic

FATCA updates from the lawyers at Parent & Parent LLP/IRSMedic
http://ift.tt/1RfwK1f Need help? Contact us to schedule a consultation. All communication is subject to the attorney client privilege. info@irsmedic.com 888-727-8796 http://youtu.be/Tc1igJ4agAw IRS Medic

Tuesday, July 26, 2016

Common tax attorney mistakes: an update

Common tax attorney mistakes: an update
From big firms, small firms, tax resolution firms and CPA firms. The attorney at IRSMedic, Parent & Parent LLP take over tax cases where the original counsel wasn't able to get the job done. In this update, Anthony E. Parent relays his more recent experiences of tax lawyers who bungled cases and the harm caused to the clients. More importantly he gives advice to tax attorneys on how to avoid being fired. http://youtu.be/tfEQm-KmGas IRS Medic

Wednesday, July 20, 2016

Updates on the IRS and your Passport

Updates on the IRS and your Passport
The IRS is now authorized by law to have the State department revoke your passport if you are a "Seriously delinquent" taxpayer. In this update we will explain what a serious delinquent taxpayers is, how to avoid being classified as one (even if you owe hundreds of thousands of dollars to the IRS), the process the IRS must follow to revoke your passport, and what happens if your passport is revoke while you are out of the country. http://youtu.be/AgKqeDVW8Cs IRS Medic

Updates on the IRS and your Australian Superannuation

Updates on the IRS and your Australian Superannuation
Your Australian Superannuation has tax benefit in Australia. But what happens when you also happen to be a US person. Do these benefits carry over to favorable tax treatment for your US taxes? If not, what can you do to avoid harsh treatment? What happens with a Self-managed Superannuation? And what happens if you haven't been reporting your Superannuation on an FBAR form or reporting any income to the IRS? In this live event that tax attorneys at IRSMedic explain why the difficulties exists and the action you can take to avoid penalties (or worse) down the road and protect your Superannuation form IRS danger. http://youtu.be/g_I4prFeppw IRS Medic

Tuesday, July 19, 2016

Offshore Disclosure updates from the OVDP lawyers at Parent & Parent LLP/IRSMedic

Offshore Disclosure updates from the OVDP lawyers at Parent & Parent LLP/IRSMedic
IRS OVDP Attorneys from the law firm of Parent & Parent LLP share with you important updates on the IRS offshore voluntary disclosure programs. These programs are a way for taxpayers to “come clean” and report their undisclosed (intentionally or not) offshore accounts and foreign bank accounts using these IRS amnesty programs. Topics to be discussed: “Bureaucracy by Blogpost” : How webpages such as 2012 OVDP FAQs become de facto law The types of offshore diclosures: Standard OVDP Standard OVDP with opt-out Streamlined Domestic Offshore Process Streamlined Foreign Offshore Process Delinquent information return Understanding Form 8938 vs. FBAR penalty base for Streamlined Disclosures OVDP processing times - accelerate the new. The old 2011...sometimes it take a while. Removal audits. Practitioners who dabble in OVDP and the problems they cause OVDP and offer and Compromise. Must have Form 906 Incomplete submissions/ screwed up OVDPs and how to fix them. Incompetent representation and what to do about it http://ift.tt/1RfwK1f Need help? Contact us to schedule a consultation. All communication is subject to the attorney client privilege. info@irsmedic.com 888-727-8796 http://youtu.be/FE4sEEp29yA IRS Medic

Monday, July 18, 2016

FBAR Updates from Parent & Parent LLP

FBAR Updates from Parent & Parent LLP
The FBAR lawyers at IRSMedic Parent & Parent LLP go over important FBAR updates for July 2016. Learn from the nation’s number one IRS disclosure firm the latest changes including: Form 114 /FBAR reporting instructions How to file the FBAR online: Step-by-step guide completed by FBAR attorneys at IRSMedic. The new FBAR deadlines for reporting offshore accounts and assets FBAR audits — penalty updates on unreported foreign bank accounts More LB&I —no longer SB/SE. TIGTA recommended doesn’t apply Offshore credit cards Unfiled returns Not hitting FBARs by themselves 6-year audit review Substantial 25% Hire Act Swiss banks playing ball. All “bad boy” banks playing ball. “We have everyone at UBS.” Hammer waiting? The IRS doesn’t know the rules yet. They are trying to figure things out. Extending S.O.L. that have been run. Why your attorney should be doing their best to educate IRS examiners. Updates on Willful and non willful FBAR penalties in OVDP/OVDI opt-outs Look to mitigation for lower penalty cases Taxpayers continue to be #1 source of information for the IRS. FBAR auditors don’t understand standards of review. “Negligent disregard” http://youtu.be/Czg2LDgiL00 IRS Medic

Friday, July 8, 2016

Guaranteed outcomes from the IRS - Pick one!

Guaranteed outcomes from the IRS - Pick one!
If someone promises you a specific resolution to your tax problem, please call us for a second opinion: 888-727-8796. It is nearly impossible to say exactly what the IRS will approve. In this video, Anthony and Claudine talk about one of our clients, "Ethel", and how we thought her case was going to be an easy slam dunk. Unfortunately, it wasn't that easy (but we still helped her in the end!). There are no guarantees for acceptance for things like an Offer in Compromise, payment plans, or partial payments. To learn more about our law firm, visit: http://ift.tt/1TuHXAv To learn more about our services and fees, visit: http://ift.tt/1TUcrWR You can call us at 888-727-8796 or email us at info@irsmedic.com. Your communications with us are subject to the attorney/client privilege. www.irsmedic.com The Law Offices of Parent & Parent, LLP Real Tax Attorneys for Tough Tax Problems With clients from around the world http://youtu.be/qSfrt4_5TPg IRS Medic

Wednesday, June 29, 2016

FBAR filers - File on time! Willful vs non-willful and audit risks

FBAR filers - File on time! Willful vs non-willful and audit risks
Contact us at 888-727-8796 if you need assistance filling out your FBAR, or if you have questions or concerns about past FBARs you may have misfiled (or not filed at all...and yes, your information will be subject to the attorney client privilege). You can also email info@irsmedic.com. The impending FBAR deadline has our clients asking us a lot of questions! In this video we answer: If I file the 2015 FBAR now, it will be my first time to ever report it. I’m afraid that it may raise a red flag and increase my chance of being audited. I feel like it’s a bad idea to report it now before I start the streamlined process. How is filing it now helping me instead of putting me at risk? What's the disadvantage of filing FBARs altogether for the past 6 years through the streamlined process past the filing deadline? For information about our Offshore Services, visit: http://ift.tt/1ZmyGZG For information about our services and fees, visit: http://ift.tt/1TUcrWR www.irsmedic.com The Law Offices of Parent & Parent, LLP Real Tax Attorneys for Tough Tax Problems With clients from around the world 888.727.8796 http://youtu.be/tV_eSc_kE7o IRS Medic

Tuesday, June 28, 2016

The Treasury Inspector General takes on OVDP

The Treasury Inspector General takes on OVDP
Contact us at 888-727-8796 if you need assistance with your foreign or domestic tax problem (and yes, your information will be subject to the attorney client privilege). We’ve successfully assisted thousands of clients deal with IRS issues. You can also email us at info@irsmedic.com. Learn more about our offshore relief here: http://ift.tt/1ZmyGZG Learn more about our services and fees here: http://ift.tt/1TUcrWR OVDP/TIGTA: I could hardly contain my excitement. Finally, the Treasury Inspector General for Tax Administration (TIGTA) was riding in to give a blistering report on the unfair, onerous slog that is the IRS Offshore Voluntary Disclosure Program (OVDP). But alas, I was disappointed. In this video, we discuss errors not only in their findings, but in their suggestions as well. www.irsmedic.com The Law Offices of Parent & Parent, LLP Real Tax Attorneys for Tough Tax Problems With clients from around the world 888.727.8796 http://youtu.be/5V4BxAeYF0k IRS Medic

Monday, June 20, 2016

H.R.4450 - Yet another disclosure law?

H.R.4450 - Yet another disclosure law?
If you have a tax issue you’re concerned about us, contact us to schedule a consultation. We have over 10 years of experience in successfully fighting the IRS. To learn more about our firm of Attorney’s, CPA’s, and Enrolled Agent’s, click here: http://ift.tt/1TuHXAv And to learn about our services and fees, click here: http://ift.tt/1TUcrWR H.R.4450 is a bill that was introduced on February 2, 2016 by Carolyn Maloney. It would amend title 31, United States Code to: "to ensure that persons who form corporations or limited liability companies in the United States disclose the beneficial owners of those corporations or limited liability companies, in order to prevent wrongdoers from exploiting United States corporations and limited liability companies for criminal gain, to assist law enforcement in detecting, preventing, and punishing terrorism, money laundering, and other misconduct involving United States corporations and limited liability companies, and for other purposes." Do they really think they'll be catching criminals? We can already think of loopholes... To follow the progress of this bill, visit here and sign up for alerts: http://ift.tt/1qpomVi www.irsmedic.com The Law Offices of Parent & Parent, LLP Real Tax Attorneys for Tough Tax Problems With clients from around the world 888.727.8796 http://youtu.be/Arf1wneoE1o IRS Medic

Thursday, June 9, 2016

How does an IRS Offer in Compromise really work?

How does an IRS Offer in Compromise really work?
Contact us at 888-727-8796 if you need assistance with your tax problem (and yes, your information will be subject to the attorney client privilege). We’ve successfully assisted thousands of clients deal with tax issues. You can also email us at info@irsmedic.com. We deal with both domestic and offshore issues. www.irsmedic.com Doesn’t this sound too good to be true? You run up a huge tax bill with the IRS. That IRS. The meanest, nastiest, most powerful collection agency in the world…and then magically, with something called an IRS Offer in Compromise, your tax bill is settled much less then what you actually owe. Can that be be true? Is this how an IRS Offer in Compromise works? Why would the IRS settle a tax bill? And then there are other questions — what percentage of Offer in Compromises are accepted? How does an Offer in Compromise work when I am unemployed? How much should I offer? Should I do an Offer in Compromise myself or hire a tax attorney? In this video we answer these questions. To learn more about our firm, visit: http://ift.tt/1TuHXAv For information on our services and fees, visit: http://ift.tt/1TUcrWR www.irsmedic.com The Law Offices of Parent & Parent, LLP Real Tax Attorneys for Tough Tax Problems With clients from around the world 888.727.8796 http://youtu.be/NzfCzBs7Gvc IRS Medic

Wednesday, June 8, 2016

IRS Appeals - A helpful taxpayer tool

IRS Appeals - A helpful taxpayer tool
Contact us at 888-727-8796 if you need assistance with your tax problem (and yes, your information will be subject to the attorney client privilege). We’ve successfully assisted thousands of clients deal with IRS issues. You can also email us at info@irsmedic.com. We deal with both domestic and offshore issues. www.irsmedic.com If you disagree with the IRS’s determination or collection actions on your case, you may request an IRS appeal conference by filing a written request protesting their decision. The two main types of appeals are Collection Due Process and Collection Appeals Program. Collection Due Process (CDP) is available if you receive one of the following notices: - Notice of Federal Tax Lien Filing and Your Right to a Hearing under IRC 6320 - Final Notice – Notice of Intent to Levy and Notice of Your Right to a Hearing - Notice of Jeopardy Levy and Right of Appeal - Notice of Levy on Your State Tax Refund – Notice of Your Right to a Hearing - Post Levy Collection Due Process (CDP) Notice Collection Appeals Program (CAP) is available for the following actions: - Before or after the IRS files a Notice of Federal Tax Lien - Before or after the IRS levies or seizes your property - Termination, or proposed termination, of an installment agreement - Rejection of an installment agreement - Modification, or proposed modification, of an installment agreement You cannot go to court if you disagree with the CAP decision. You may also appeal other collection actions: - Rejected Offer in Compromise - Proposed Trust Fund Recovery Penalty - Denied Trust Fund Recovery Penalty Claim - Denied request to abate penalties (i.e., late payment, late filing, or deposit penalties) You will want professional representation at the hearing. I know we’re a law firm so you may thing we’re just saying that…but again…we’ve dealt with so many clients, so many Revenue Officers, so many IRS Agents that we truly know what happens behind the scenes. We sincerely want to help people deal with this nasty agency and come out on top. You are dealing with a situation where you could lose your livelihood. You cannot mess around with the IRS and expect to win on your own. We have had IRS employees tell us that they look at taxpayers who have an attorney representing them in a better light than those who don’t. If you need assistance, contact us. Learn more about our services and fees here: http://ift.tt/1TUcrWR More about our firm here: http://ift.tt/1TuHXAv And success stories from some of our satisfied clients. We've been in business for over 10 years and have helped thousands of taxpayers: http://ift.tt/1TuI0MK www.irsmedic.com The Law Offices of Parent & Parent, LLP Real Tax Attorneys for Tough Tax Problems With clients from around the world 888.727.8796 http://youtu.be/cYLglzv-VWs IRS Medic

Friday, June 3, 2016

Commonly asked questions people ask before hiring IRSMedic

Commonly asked questions people ask before hiring IRSMedic
http://ift.tt/1RfwK1f Watch this video to find out the answers to the most frequently asked question our clients have before deciding to hire us. 1. Are all communications subject to the attorney-client privilege? Yes. 2. Is the telephone call recorded? No. We do not record calls. 3. What happens to my information if I decide not to hire you or you decide not to take my case? Any physical information is actually shredded, any digital information is virtually shredded. In either case, the information is impossible to recover. 4. Can you give me a ballpark fee of what your services will cost prior to me schedule a consultation? No. We would love to,but because each case is so fact dependent, it is impossible. We can tell we are not the lowest cost tax team. But we can also tell you that our fees tend to be lower than "Big Law" or what the "Big Four" charges. Also, we do not charge hourly, so we can give you a guaranteed fixed price quote at the end of the consultation process. 5. How secure is your secure document exchange (SDE)? The connection between your computer and our server has the highest level of encryption allowed by law. Moreover, the SDE is actually not on the internet. Its address is secret and fairly impossible to guess. hackers would have a difficult time finding the SDE, let alone hacking into it. While there are systems as secure as our SDE, we don't know if there any any systems more secure, outside those employed by sovereign nations. 6. How do you figure out what my fee will be? Why are your fees so low/high? Our fees are calculated based on our experience of seeing cases from start to finish. This also includes a warranty on our work to fix mistakes caused by the IRS failing to follow their own procedures, and a guarantee to fix any mistakes we may have made. Yes, sometimes that happens. Our flat fee means we have no incentive to create additional work. 7. Could I just hire a CPA or do this myself? You could do whatever you want to do. But something is telling you that you shouldn’t hire a CPA or do it yourself, right? That’s why you are considering hiring someone like us. If you feel the IRS is an agency with limited power, that always works in the boundaries of the law, that always works to a fair result, that follows a clear logic process…if you think the IRS understands its own rules, and if you think you can understand them and implement them to effect the perfect strategy, then sure, why not. Our clients look at the IRS as a mortal threat to their financial security. The question to ask yourself to figure out if you are making the right decision in hiring a firm like ours, is if you see the same risks. 9. What happens if I need tax preparation for original or amended returns? What happens if those returns are complicated? At many law firms, in addition, you will also have to hire a CPA firm. Not so at IRSMedic. We handle all accounting and tax preparation work work in-house. We find this structure gives us a built-in advantage: it creates a more consistent, more timely work product. And complicated tax issues are our specialty. 10. How much money can you save me?...Approximately how much will my settlement be?...How long will it take to resolve my case? Can I just paid what I originally owed…Can you lower my penalties? We’ve grouped these questions together because we can answer them all the same way…it depends. The IRS is a poorly organized, insanely large organization. They don’t always follow their own rules, and will sometimes make decisions based on emotion (which they really shouldn’t be doing). After doing this for over 10 years, and working on thousands of cases, we still can’t predict how the IRS will act. Every case is different. Our flat fee billing ensures that we will be efficient and will work hard to get everything done correctly the first time. 11. Will the IRS remove penalties and interest? They might remove penalties, but will not remove interest (yet they will remove interest that was running on abated penalties). 12. Will the IRS assume I’m “guilty” if I hire an attorney? We’ve had IRS employees straight up tell us they deal with people who hire attorneys differently – but in a good way. They are much less likely to try to walk all over you. Hiring legal representation for an IRS issue doesn’t make you look guilty. It makes you look like you take the power of the IRS seriously. Other attorneys and partners at Big Four accounting firms routinely hire us. Even though they know they could potentially handle their IRS issue, they also know the stakes are far too high to take unnecessary risks. http://youtu.be/YC5EQJZWZ4g IRS Medic

Thursday, June 2, 2016

Most common FAQs before hiring IRSMedic, Parent & Parent LLP

Most common FAQs before hiring IRSMedic, Parent & Parent LLP
http://ift.tt/1RfwK1f Thinking about making IRSMedic, the law offices of Parent & Parent LLP part of your team? Well then, in this video we answer the most common questions our clients have before hiring us. IRSMedic Parent & Parent LLP 144 S. Main St Wallingford, CT 06492 http://youtu.be/9-l2wXWOc4o IRS Medic

The what, why, when, where, and how of Federal Tax Liens

The what, why, when, where, and how of Federal Tax Liens
Contact us at 888-727-8796 if you need assistance with your foreign or domestic tax problem (and yes, your information will be subject to the attorney client privilege). We’ve successfully assisted thousands of clients deal with IRS issues. You can also email us at info@irsmedic.com. www.irsmedic.com In this video, Anthony and Claudine discuss Federal Tax Liens: - What is a tax lien? - How does the IRS put a lien on your assets? - Is it possible to get a tax lien removed? - Common misconceptions about tax liens - How to qualify to get a lien withdrawn - What if you don't qualify? - Is Chapter 7 bankruptcy an option? - What if you do qualify? - The difference between having a tax lien withdrawn vs. having a tax lien released If you want to learn more about our services and fees: http://ift.tt/1TUcrWR If you want to learn more about our firm: http://ift.tt/1TuHXAv If you want to read success stories about our firm: http://ift.tt/1TuI0MK If you want to contact us: http://ift.tt/24xCz51 www.irsmedic.com The Law Offices of Parent & Parent, LLP Real Tax Attorneys for Tough Tax Problems With clients from around the world 888.727.8796 http://youtu.be/vDv_FRsmDY4 IRS Medic

Thursday, May 26, 2016

US tax traps of Superannuation Funds

US tax traps of Superannuation Funds
We see opportunities for the best and brightest Superannuation fund holders and advisers to collaborate and come up with imaginative and legitimate solutions to the nasty tax treatments of these funds. Join our LinkedIn group or comment below as you see fit. http://ift.tt/1Z399Vn In this video, we talk about why foreign retirements are a mixed blessing, how the Australian Tax Office failed in the US treaty, and grantor vs employee trust. Also, how there is no set of guidelines created by the IRS about how these funds should be handled. If you are a Supperannuation fund ‘expert’, or have knowledge on the tax treatments, contact us or join our group to share your knowledge! Contact us at 888-727-8796 if you need assistance with your tax problem (and yes, your information will be subject to the attorney client privilege). We’ve successfully assisted thousands of clients deal with IRS issues. You can also email us at info@irsmedic.com. We deal with both domestic and offshore issues. www.irsmedic.com Learn about our services and fees here: http://ift.tt/1TUcrWR Learn about our firm here: http://ift.tt/1TuHXAv Learn about our warranty and guarantee here: http://ift.tt/1TUcqlL Read our success stories here: http://ift.tt/1TuI0MK www.irsmedic.com The Law Offices of Parent & Parent, LLP Real Tax Attorneys for Tough Tax Problems With clients from around the world 888.727.8796 This website includes general information about legal issues and developments in the law. Such materials are for informational purposes only and may not reflect the most current legal developments. These informational materials are not intended, and must not be taken, as legal advice on any particular set of facts or circumstances. http://youtu.be/1IeXRL2qEXw IRS Medic

Tuesday, May 24, 2016

7 Lesser Known Ways the IRS is _________ you.

7 Lesser Known Ways the IRS is _________ you.
Contact us at 888-727-8796 if you need assistance with your tax problem (and yes, your information will be subject to the attorney client privilege). We’ve successfully assisted thousands of clients deal with IRS issues. You can also email us at info@irsmedic.com. We deal with both domestic and offshore issues. www.irsmedic.com We all know the IRS has their own best interests at heart. We hear the news stories about the different controversies that rock the IRS...but what you don't hear about is the lesser known ways they can screw with you. We have 10 years experience in dealing with the IRS and tax problems, and we've seen A LOT. In this video, we share our stories and insight so that you can learn how to protect yourself from the IRS. Learn about our services and fees here: http://ift.tt/1TUcrWR Learn about our firm here: http://ift.tt/1TuHXAv Learn about our warranty and guarantee here: http://ift.tt/1TUcqlL Read our success stories here: http://ift.tt/1TuI0MK www.irsmedic.com The Law Offices of Parent & Parent, LLP Real Tax Attorneys for Tough Tax Problems With clients from around the world 888.727.8796 http://youtu.be/kVwdYOsJ9bI IRS Medic

7 Lesser Known Ways the IRS is _________ you.

7 Lesser Known Ways the IRS is _________ you.
Contact us at 888-727-8796 if you need assistance with your tax problem (and yes, your information will be subject to the attorney client privilege). We’ve successfully assisted thousands of clients deal with IRS issues. You can also email us at info@irsmedic.com. We deal with both domestic and offshore issues. www.irsmedic.com We all know the IRS has their own best interests at heart. We hear the news stories about the different controversies that rock the IRS...but what you don't hear about is the lesser known ways they can screw with you. We have 10 years experience in dealing with the IRS and tax problems, and we've seen A LOT. In this video, we share our stories and insight so that you can learn how to protect yourself from the IRS. Learn about our services and fees here: http://ift.tt/1TUcrWR Learn about our firm here: http://ift.tt/1TuHXAv Learn about our warranty and guarantee here: http://ift.tt/1TUcqlL Read our success stories here: http://ift.tt/1TuI0MK www.irsmedic.com The Law Offices of Parent & Parent, LLP Real Tax Attorneys for Tough Tax Problems With clients from around the world 888.727.8796 http://youtu.be/kVwdYOsJ9bI IRS Medic

Friday, May 20, 2016

Webinar info - Dealing with an IRS Revenue Officer

Webinar info - Dealing with an IRS Revenue Officer
Join Attorney Anthony E. Parent and Claudine Gindel in a webinar where they'll discuss how to deal with an IRS Revenue Officer. They will talk about R.O. tactics, errors that they (and taxpayers) may make, and the steps you need to take to successfully deal with a Revenue Officer. We'll be posting the link to join the webinar shortly so check back for updates here or on www.irsmedic.com. Bear in mind seats are limited. Upon registering you will receive confirmation and instructions on how to watch. Contact us at 888-727-8796 if you need assistance with your foreign or domestic tax problem (and yes, your information will be subject to the attorney client privilege). We’ve successfully assisted thousands of clients deal with IRS issues. You can also email us at info@irsmedic.com. www.irsmedic.com www.irsmedic.com The Law Offices of Parent & Parent, LLP Real Tax Attorneys for Tough Tax Problems With clients from around the world 888.727.8796 http://youtu.be/qKXVNPdSlvQ IRS Medic

Webinar Teaser - IRSMedic Passport Protection Program

Webinar Teaser - IRSMedic Passport Protection Program
Join Attorney Anthony E. Parent and Claudine Gindel in a webinar where they'll discuss the new Passport Revocation law. The IRS can now revoke your passport for non-payment of taxes. They'll share the steps you need to take to keep your passport safe. We'll be posting the link to join the webinar shortly so check back for updates here or on www.irsmedic.com. Bear in mind seats are limited. Upon registering you will receive confirmation and instructions on how to watch. Contact us at 888-727-8796 if you need assistance with your foreign or domestic tax problem (and yes, your information will be subject to the attorney client privilege). We’ve successfully assisted thousands of clients deal with IRS issues. You can also email us at info@irsmedic.com. www.irsmedic.com www.irsmedic.com The Law Offices of Parent & Parent, LLP Real Tax Attorneys for Tough Tax Problems With clients from around the world 888.727.8796 http://youtu.be/ILg4wFvOni8 IRS Medic

Thursday, May 19, 2016

Breaking free from IRS Debtor's prison webinar teaser

Breaking free from IRS Debtor's prison webinar teaser
Attorney Anthony E. Parent and Claudine Gindel will be hosting a webinar, "Breaking out of IRS debtor's prison." Having a tax issue can be overwhelming and emotional. We'll give you the steps you need to take to walk out of that prison. We'll be posting a sign up link soon, so check back by the end of day for an update. Bear in mind seats are limited. Upon registering you will receive confirmation and instructions on how to watch. Contact us at 888-727-8796 if you need assistance with your foreign or domestic tax problem (and yes, your information will be subject to the attorney client privilege). We’ve successfully assisted thousands of clients deal with IRS issues. You can also email us at info@irsmedic.com. www.irsmedic.com www.irsmedic.com The Law Offices of Parent & Parent, LLP Real Tax Attorneys for Tough Tax Problems With clients from around the world 888.727.8796 http://youtu.be/9lOmsyF1L9Y IRS Medic

Wednesday, May 18, 2016

FBAR fears and how to get on with your life - Webinar teaser

FBAR fears and how to get on with your life - Webinar teaser
Click on the link below to register for the event, and bear in mind seats are limited. Upon registering you will receive confirmation and instructions on how to watch. http://ift.tt/1W2LuGI Join Attorney Anthony E. Parent and Claudine Gindel in a webinar where they'll discuss FBAR fears and how to get on with your life. Thinking you have misfiled (or unfiled) FBARs can feel terrifying - we discuss the risks, some bad advise you may be getting, and the steps you need to take to get your life back. Contact us at 888-727-8796 if you need assistance with your foreign or domestic tax problem (and yes, your information will be subject to the attorney client privilege). We’ve successfully assisted thousands of clients deal with IRS issues. You can also email us at info@irsmedic.com. www.irsmedic.com www.irsmedic.com The Law Offices of Parent & Parent, LLP Real Tax Attorneys for Tough Tax Problems With clients from around the world 888.727.8796 http://youtu.be/GlnLXxWqvnE IRS Medic

Monday, May 16, 2016

2016 FBAR Penalty Guide

2016 FBAR Penalty Guide
When people hear that FBAR penalties could potentially be up to 50% of your account balance, they rightfully get...let's say...a little upset, and a lot frightened. The world of FBAR penalties is a large, complicated one. We've created this FBAR Penalty guide to help you muddle through. We talk about: - FBAR Penalty Mitigation - Willful vs. Non-willful penalties (and how does the IRS prove that you're willful?) - FBAR Filing vs. Record-Keeping Penalties - FBAR Audit years - Large Business & International vs. Self Employed/Small Business - The Possibility of Criminal Charges - FBAR Appeals - FBAR Litigation to Enforce Judgement - FBAR Penalty Installment Agreements If you need assistance, contact us. We're here to help. www.irsmedic.com The Law Offices of Parent & Parent, LLP Real Tax Attorneys for Tough Tax Problems With clients from around the world 888.727.8796 http://youtu.be/KfwsFFTa5zI IRS Medic