21 Mar Newsletter March 21st, 2019
Inside this edition: Where in the World is John McAfee? The IRS Wants to Know!, The IRS Throws a Wrench in Mechanic’s Plan, If You Owe It, and You Have It, You Must Pay It, IRS Question & SFS Answer, For the foodies…Really good low carb meatballs
March 21, 2019
Inside this edition:
- Where in the World is John McAfee? The IRS Wants to Know!
- The IRS Throws a Wrench in Mechanic’s Plan
- If You Owe It, and You Have It, You Must Pay It
- IRS Question & SFS Answer
- For the foodies…Really good low carb meatballs
What my designations mean….
A certified tax resolution specialist (CTRS) is a tax expert who helps clients deal with tax issues and represents them before the Internal Revenue Service (IRS).
Enrolled Agent (EA) is a tax advisor who is a federally authorized tax practitioner empowered by the U.S. Department of the Treasury. Enrolled agents represent taxpayers before the Internal Revenue Service (IRS) for tax issues including audits, collections, and appeals.
Enrolled Agent status is the highest credential awarded by the IRS. The EA credential is recognized across all 50 U.S. states. Attorneys and certified public accountants (CPAs) are licensed on a state by state basis and are also empowered by the Department of the Treasury to represent taxpayers before the IRS.
ACT-E is the designation for Advanced Crypto Tax Expert.
NTPI Fellow, this designation is evidence of significant expertise in the representation of taxpayers before the IRS.
Where in the U.S. is Jeffrey Schneider?
March through April 15 2019
Tax Season- Stuart and Royal Palm Beach, Florida through April 2019
In the News!
Where in the World is John McAfee? The IRS Wants to Know!
John McAfee, the millionaire founder of the anti-virus software bearing his name, has fled the country to elude the IRS and conduct his 2020 presidential campaign from his boat in international waters.
An outspoken critic of the IRS, McAfee claims that “The IRS has convened a grand jury in the state of Tennessee to charge me, my wife and four of my campaign workers with unspecified IRS crimes of a felonious nature.”
McAfee took to Twitter recently to state that taxation is illegal and publicly declare that he hasn’t filed a return for 8 years. He recently told CNN that his constant criticism of the IRS is what has provoked the indictment. McAfee states, “I have been speaking out more and more against the IRS, both in the state when I keynote and also on my social media. I think they just had enough.”
Confident that he can conduct his presidential campaign while in exile, McAfee says that he will continue to sail in international waters as long as he’s not convicted of charges by the IRS.
The IRS Throws a Wrench in Mechanic’s Plan
Albert Strong, a North Carolina mechanic, was sentenced to 36 months in prison for wire fraud and filing a false income tax return after pleading guilty to the charges in April 2018.
Strong worked as a mechanic/machinist at a company in Charlotte. From 2008 to 2015, Strong embezzled more than $1,488,000 from the company using a fraudulent purchasing and billing scheme. Using a fake parts vendor, Strong would order fictitious parts from the vendor, creating false invoices and submitting them to the company.
The conviction was based on Strong not reporting his embezzled funds on his 2009-2015 tax returns. The loss to the IRS was approximately $450,000.
In addition to jail time, Strong was also ordered to serve two years supervised release and pay restitution of $1,941,377.32
If You Owe It, and You Have It, You Must Pay It
An independent contractor from Tulsa, Ok, John Petrig, pled guilty in Federal Court to one count of tax evasion.
Petrig worked installing ATM machines inside casinos. His company paid him a commission based on the number of transactions executed at the ATMs. On his 2015 tax return, Petrig showed an income of $394,317 but failed to pay the $110,372 in taxes owed.
In 2012, the Internal Revenue Service sent a notice of levy to Petrig’s employer, stating that any commissions earned are to be sent to the IRS to pay his tax debt. In turn, Petrig sent a letter to his employer directing that all future commissions be paid to a fictitious corporation he set up.
U.S. Attorney Trent Shores states, “The federal income tax system is based upon the compliance of the taxpaying citizens of this nation. When an individual, such as Mr. Petrig, decides to shirk his responsibility to pay what he owes, then other law-abiding citizens end up shouldering the burden. Mr. Petrig’s criminal acts cost taxpayers not only the loss of unpaid taxes but also the additional expense for investigating and prosecuting his criminal behavior.”
Petrig faces a maximum sentence of 5 years prison time, a fine up to $250,000, or both, and up to three years supervised release.
Questions and Answers
Question: I received a Notice of Federal Tax Lien via certified mail for unpaid back taxes, and I’m scared and don’t know what to do. Can you help?
Answer: Yes. A Notice of Federal Tax Lien (NFTL) is public record and is generally filed with the County Recorder where you reside. A federal tax lien will also negatively impact your credit report scores. It is notice to all your other creditors that the IRS has a secured interest in all your real and personal property you have now and acquired in the future.
A federal tax lien will make it very difficult, if not impossible, for you to purchase a home, vehicle and other property on credit. It may also prevent you from accessing the equity in real property you may have built up over the years. However, the IRS has several different solutions that can resolve your NFTL if you qualify. You can settle a federal tax lien by paying it in full or if that is not an option you can find out if you qualify for a “Release of Lien,” a “Lien Subordination,” a “Lien Discharge” or “Lien Withdrawal.” It is important to keep in mind that your IRS problems didn’t just happen overnight and will take some time to resolve.
The good news is that generally, you won’t have to meet or even speak with the IRS while we’re retained. It’s important to consult with a tax resolution specialist to see which Lien relief solutions you may be eligible for before the IRS starts enforcing aggressive collection action against you. We can help protect what you have and preserve your rights!!
The Now What Help! Series
Defining and deconstructing the scary and confusing letters that land in your mailbox. Jeff defines and deconstructs the scary and confusing letters in a fashion that mixes attention to detail with humor and an intricate clarification of what is what in the world of the IRS.
The books are available in paperback and ebook on https://amzn.to/2LR55YR
Thank you for your kind words
Through a series of unfortunate events, my husband and I found ourselves behind two years in filing and paying our federal income taxes. The shame was overwhelming. Someone gave me Jeffrey Schneider’s name.
They set up for an appointment without delay and Jeffrey had a professional yet calming manner. He took the time to listen without shaming and answered every question before giving us advice on the best way to proceed.
The portal made things a breeze when we were out of town so we could send him information safely and securely. He processed our return quickly, thoroughly and saved us money which more than paid for his services.
He set up a payment plan with the IRS and made the whole thing must less stressful than we could ever imagine.
We wouldn’t hesitate to recommend him to anyone who needs help with anything related to taxes.
Richard and Tammy Schaefer
How can I help you?
If you have a state or IRS issue, or just want to refer a friend, relative or client, I’d love to hear from you. I can provide a no-obligation, confidential consultation to help you solve your IRS problems.
Really good low carb meatballs!
While I was randomly searching Pinterest for a low carb dinner recipe, I happened upon these Keto Stuffed Meatballs. With some substitutions such as – Sami’s bakery Low carb 7-grain bread tasted and blended until they resembled bread crumbs and instead of the Marinara Sauce, I used Dei Fratelli fire roasted crushed tomatoes mixed with Hunt’s fire roasted diced tomatoes and a bunch of Italian seasonings. Of course, I added additional garlic and crushed red peppers.
I served them over zoodles, and they quickly became Jeff’s favorite.