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Tax Fraud

Owner of Construction Companies Pleads Guilty to Tax and Mail Fraud

Dariusz Pietron, owner of TJM Construction, Inc. and Point Construction, Inc., has pleaded guilty to defrauding the IRS and Travelers Insurance Company by failing to report employee wages and pay required employment taxes, and underreporting wages to reduce workers’ compensation insurance premiums. This scheme led to over $1.1 million in unpaid taxes and $244,000 in defrauded insurance premiums. Pietron faces up to 25 years in prison and substantial fines. This case highlights the severe consequences of tax fraud and underscores the importance of compliance for business owners.

July 11, 2024 No Comments

IRS tax planning

Tackling Bad Tax Advice on TikTok: A Challenge for the IRS

The IRS is facing a significant challenge in combating bad tax advice circulating on TikTok, a platform it cannot access due to federal restrictions. National Taxpayer Advocate Erin Collins highlighted this issue, explaining the difficulties in reaching users who rely on social media for tax guidance. The IRS has included misleading tax information on its Dirty Dozen list of tax scams and issued alerts on various credits being misused. Business owners are urged to rely on official IRS resources and trusted tax professionals to avoid falling victim to misinformation.

July 11, 2024 No Comments

Testimonials

How We Helped Eliminate Over $310,405.29 in Tax Debt for One Business Owner

Hey everyone, Randy Martin here, and I recently had the privilege of working with Chris Hayes to help him eliminate a staggering $310,405.29 in tax

July 10, 2024 No Comments

Self-Employed Tax Mistakes

Understanding Self-Employment Taxes for Active Limited Partners

As a business owner, navigating self-employment taxes can be challenging, especially if you’re an active limited partner in a partnership. Recent IRS rulings and court decisions have clarified that simply holding the title of a limited partner isn’t enough to avoid these taxes if you actively participate in the business. Understanding the implications of these changes and exploring alternative business structures like S corporations can help you strategically minimize your tax liabilities.

July 10, 2024 No Comments

Tax Relief Insights & IRS Help Articles

A Guilty Plea Deal does not Relieve You of Your Tax Liabilities

A Guilty Plea Deal does not Relieve You of Your Tax Liabilities. Learn from Salvatore Groppo’s case about the lingering financial consequences after legal proceedings.

July 5, 2024 No Comments

IRS

Over $1 Billion in EV Tax Credits Issued Upfront to Buyers, Treasury and IRS Announce

The federal government has issued over $1 billion in upfront tax credits to buyers of new and used electric vehicles (EVs) as part of the Inflation Reduction Act. This initiative, which began on January 1, 2024, allows car buyers to receive tax credits of up to $7,500 for new EVs and $4,000 for used EVs directly at the point of sale, making EVs more affordable and competitive with traditional gasoline-powered vehicles.

July 4, 2024 No Comments

Business

Map Out Deductions for Business Travel

Combining business travel with personal leisure can be a smart way to take a break while also saving on taxes. By ensuring that the primary purpose of your trip is business-related and keeping thorough records, you can maximize your deductions and enjoy some well-deserved downtime.

July 2, 2024 No Comments

Tax Refund Strategies

Q&A: How the IRS Disappears Tax Refunds on Unfiled Tax Returns

Understanding the IRS’s refund statute of limitations is crucial, especially if you’ve missed filing your tax returns for several years. Learn how to navigate the complexities of reclaiming overpaid taxes and avoid losing your hard-earned refunds by staying on top of your annual tax filings.

July 1, 2024 No Comments

Self-Employed Tax Mistakes

Business Owners Beware: The Costly Consequences of Failing to Pay Employment Taxes

As a business owner, properly managing your employment tax obligations is not just a legal requirement—it’s a crucial aspect of running a successful and ethical business. The potential consequences of failing to do so, as illustrated by this recent case, are simply too severe to ignore. Stay informed, stay compliant, and don’t hesitate to seek professional help if you’re unsure about your tax obligations.

July 1, 2024 No Comments