Tax Relief Blog
IR-2013-29, March 14, 2013
WASHINGTON — Refunds totaling just over $917 million may be waiting for an estimated 984,400 taxpayers who did not file a federal income tax return for 2009, the Internal Revenue Service announced today. However, to collect the money, a return for 2009 must be filed with the IRS no later than Monday, April 15, 2013. The IRS estimates that half the potential refunds for 2009 are more than $500.
WASHINGTON — The Internal Revenue Service announced that its Office of Professional Responsibility obtained the disbarment of enrolled agent Lorna M. Walker for stealing a client's tax payments and for preparing tax returns with false deductions for multiple clients.Walker's enrolled agent status and her ability to prepare federal tax returns were revoked for at least five years. Walker practiced in the Seattle area.
You may not have filed your federal income tax return for this year or previous years. Regardless of your reason for not filing, file your tax return as soon as possible. If you need help, Omni Financial is ready to assist you.
If you are not sure you are required to file a return, refer to Publication 17 on the IRS Website, Your Federal Income Tax. If you cannot pay all of the tax due on your return, Omni Financial may be able to assist you with arranging payments.
Denver, CO – October 12, 2012 – Today, at the Hyatt Regency Convention Center Hotel in Denver, the BBB of Denver/Boulder and the BBB Foundation announced the winners of its tenth annual Torch Awards for Marketplace Trust.
For the third consecutive year, Omni Financial has been nominated for the Denver Better Business Bureau Torch Award for marketplace ethics and trust.
What is the BBB Torch Award?
The Torch Award program began Nationally in 1996 and has been adopted by many of the 135 BBB’s nationwide. The Denver/Boulder Better Business Bureau’s event is in its 6th year. Our past winners include: Downing Street Garage, Namaste Comfort Care, Levine, Hughes & Mithuen, Colorado Asphalt Services Inc. and Johnson Storage & Moving Company.
What it takes...
WASHINGTON — The Internal Revenue Service today announced a sweeping office space and rent reduction initiative that over the next 2 years will close 43 smaller offices and reduce space in many larger facilities. These measures will save more than 40 million in taxpayer dollars. Coupled with space reductions last year, the initiative will slash total IRS office space by more than one million square feet.
A client owing almost $135,000 came to Omni Financial for help his federal and state Offers in Compromise. Unfortunately, the state had rejected the Offer in Compromise, saying it was too low. Omni negotiated with the state, getting them to agree to place the client in uncollectable status.
The IRS took a little bit longer to review the Offer because they found several vehicles in the client’s DMV records that Omni was unaware of. However, with Omni Financial’s help, the client was able to finally see his Offer in Compromise accepted, saving him over $117,000.
WASHINGTON — The Internal Revenue Service today announced another expansion of its "Fresh Start" initiative by offering more flexible terms to its Offer in Compromise (OIC) program that will enable some of the most financially distressed taxpayers to clear up their tax problems and in many cases more quickly than in the past.
"This phase of Fresh Start will assist some taxpayers who have faced the most financial hardship in recent years," said IRS Commissioner Doug Shulman. "It is part of our multiyear effort to help taxpayers who are struggling to make ends meet."
Starting April 8, 2012, the FPLP will increase its continuous levy authority from 15% to 100% on all new and existing federal contractor/vendor payment levies. The 3% Withholding Repeal and Job Creation Act of 2011 expands IRC 6331(h)(3) to allow the FPLP to continuously levy 100% of vendor payments for “property, goods, or services,” instead of only “goods or services”, sold or leased to the federal government. This new law clarifies the language to cover all vendor payments that can be levied at 100%. Prior to this change, the FPLP levied only Defense and U.S.
IR-2012-41, April 4, 2012
WASHINGTON — The Internal Revenue Service reminds taxpayers that IRS YouTube videos can help them with their taxes before the April 17, 2012, deadline. The IRS channels offer information on a variety of the most frequently asked taxpayer questions at this time of year.
Videos are available in English, Spanish and American Sign Language. Among the hot topics for last-minute filers: