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

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

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

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