Category Archives:Not Filing Taxes

I Don’t Have All the Information Necessary to File My Return and I Owe Taxes

Around the tax deadline, people will call and ask the following questions:

  • Should I file if I cannot pay the tax due on the return?
  • Should I file if I don’t have all of my tax information?
  • Should I file my tax return if did not pay enough taxes throughout the year?
  • Should I file if the person for whom I work didn’t take out any taxes?

You should always timely file no matter what. Not timely filing a tax return is reckless, financially devastating, and exposes you to criminal prosecution. If you owe money and don’t file, then you will cost yourself a lot of money in penalties and interest. If you owe taxes and file your return late, then the IRS will assess the failure to file penalty. The failure to file penalty is a penalty based on the amount of tax owed that accrues at 5% per each month that the return is late for a maximum of 25%.

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Mike ‘The Situation’ Sorrentino and Brother Marc Sorrentino Face IRS Tax Fraud Case

mike the situation tax fraudReality television personality from the Jersey Shore, Mike “The Situation” Sorrentino and his brother, Marc Sorrentino, are under arrest and are facing tax fraud charges because they did not properly pay income taxes on $8.9 million.  The $8.9 million was received from Mike’s promotional activities after he gained fame on the MTV reality series.

Marc Sorrentino, who is also Mike’s manager, and “The Situation” are being charged with filing false tax returns for the tax years 2010, 2011 and 2012. Additionally, Mike faces an added charge of failing to file his tax return for the year of 2011. The brothers also both face charges of conspiracy to defraud the United States government.

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Owe New Jersey Back Taxes? The NJ Division of Taxation Offers a Way to Resolve Unpaid Tax Debt with No Penalties

NJ Back Taxes ResolutionThe New Jersey Division of Taxation has offered businesses and individuals a way to resolve back taxes from 2005 through 2013 at a reduced cost. The details of the plan are as follows:

  • Most of the penalties that were assessed to your account will be reduced to zero.  The Amnesty Penalty (5%) imposed on taxes due on or after 1/1/2002 and before 2/1/2009 is still applicable.
  • Interest will be calculated only on the tax and the reduced penalties.
  • The 10% recovery fee which is imposed on each tax liability that is forwarded to NJ’s outsourced, collection unit, Pioneer, is waived.
  • The 10% cost of collection fee charged for filing a Certificate of Debt (Judgment) may be eliminated.

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Ohio Lieutenant Governor Candidates Backs Out After Tax Questions Surface

dfgdfAs news broke by several Ohio newspapers that Lieutenant Government candidate Sen. Eric Kearney (D) and his wife owed significant back taxes to the Internal Revenue Service and to state taxing agencies, the candidate decided to pull out of the race.

Races Heats Up as Candidates Face Questions

The race is a heated one, with Cuyahoga County Executive Ed FitzGerald (D) picking the state senator as a running mate in November. And, with only a few weeks to go, this puts the democratic candidate on the line. 

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Thousands of Tax Delinquents have Security Clearances

gggThousands of people holding security clearances are also tax cheats — a major problem considering that financial troubles are frequently considered a threat to national security. The reason? The farther in debt a person is, the more likely it is that they will turn to illegal activity to obtain needed funds. Russia has shown repeatedly that it is willing to pay cash for national secrets and has previously bought off former CIA and FBI agents.

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Do You Have a NY Back Tax Problem? Resolve it or call a Cab

aIf you owe back taxes that exceed $10,000 in NY State, your driver’s license may be suspended.

The New York State Department of Taxation and Finance is sending 16,000 suspension notices to delinquent taxpayers. Delinquent taxpayers will then have 60 days from the mailing date to work out a payment plan. The failure to act will result in the NY Department of Motor Vehicles sending a warning letter. If the taxpayer fails to work out a tax payment plan, within 15 days from the date of the second letter, their driver’s license will be suspended. In order to reinstate their license, full payment or a plan to full pay is necessary.

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Dolce and Gabbana to go on Trial for Tax Evasion

Dolce & GabbanaIn December, co-founders of the famous high fashion label Dolce & Gabbana will go on trial for tax evasion in their native Italy.

Domenico Dolce and Stefano Gabbana are accused of selling their business to Gado Srl, a Luxembourg-based holding company, in 2004. The pair are said to have created the company in order to carry out a plan not to pay taxes, Women’s Wear Daily reports.

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Beanie Sigel Rapper Sentenced to 2 Years for Tax Evasion

Philadelphia rapper Beanie Sigel, born Dwight Grant, was sentenced to two years in federal prison stemming from charges that he failed to file income tax returns. The rapper began serving his sentence on September 12, 2012.

Sigel was accused and convicted of failing to file tax returns from 2003 to 2005. He was reported to have earned over $2.2 million dollars from 1999 to 2005 and owed a total of $728,536 to the federal government. He was ordered to pay all back taxes and penalties and will endure a year of supervised release once his sentence is completed.

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