Newsletter November 22, 2018

 

Inside this edition:  Some Real and Really Bad Excuses for Not Filing Taxes, Where in the U.S. is Jeffrey Schneider?, Former Justice of the Peace at War with the IRS, A Bit of Humor, Couple Could Face a Whopping 261 Years in Prison, Tap the APP, Schneider receives ACT-E Designation, IRS Question & SFS Answer, For the foodies…

 

November 22, 2018

Tax Controversy Specialist, Lecturer
Author of Now What? I Got a Tax Notice
from the IRS. Help!

Inside this edition:

  • Some Real and Really Bad Excuses for Not Filing Taxes
  • Where in the U.S. is Jeffrey Schneider?
  • Former Justice of the Peace at War with the IRS
  • A Bit of Humor
  • Couple Could Face a Whopping 261 Years in Prison
  • Tap the APP
  • Schneider receives ACT-E Designation
  • IRS Question & SFS Answer
  • For the foodies…

Enrolled Agent Jeffrey Schneider, EA, CTRS, NTPIF
of SFS Tax & Accounting Services Earns ACT-E Designation

Jeffrey Schneider, EA, CTRS, NTPIF, ACT-E of SFS Tax & Accounting Services in Stuart, Florida, a tax preparation and tax resolution firm, has
received the Advanced Crypto Tax Expert designation (ACT-E).

The cryptocurrency taxation training and designation assures that the tax professional can handle even the most complicated crypto clients and that they understand the tax complexities of cryptocurrency and blockchain and can provide quality crypto tax preparation.
Schneider specializes his practice in tax preparation and problem-solving. He opened his firm in 1999 and received his master’s degree from Long Island University in New York City. He also holds the designation of Enrolled Agent and CTRS, Certified Tax Resolution Specialist.

“Jeff and his team helped us resolve a complex issue with the IRS. We continue to use SFS for all of our business and personal tax needs. They are extremely knowledgeable and helpful.” – Bob Zalewski

SFS Tax & Accounting Services and SFS Tax Problem Solutions has been serving clients in Florida and throughout the U.S. for more than 40 years. years. They offer a wide variety of services that include crypto tax preparation, cannabusiness tax compliance, tax problem resolution, and individual and business tax preparation.

“If you receive a “certified message in a bottle with an audit notice, be sure to have the most complete records and do not forget those receipts before the IRS boards your vessel for inspection.”

 

 

Quote from Chapter 4

To download a PDF of Now What? I Got a Tax Notice from the IRS. Help! click here.

Please review the book here

Some Real and Really Bad Excuses for Not Filing Taxes

  • I couldn’t complete my tax return because my husband left me and took our accountant with him. I am currently trying to find another accountant.
  • I work for myself, but a colleague borrowed my tax return to photocopy and lost it.
  • My tax return was on my yacht, which caught fire.
  • A wasp in my car caused me to have an accident and my tax return, which was inside the car, was destroyed.
  • I suffer from late filling syndrome.
  • My child scribbled all over my tax return, so I wasn’t able to send it in.
  • My religious beliefs preclude my income from being taxable.

Where in the U.S. is Jeffrey Schneider?

November 2018

14th-15th – Washington D.C.- IRSAC meeting

20th – Orlando – teaching “Taxation and the Gig Economy” to EAs and CPAs for the Orlando Chapter of the FSEA

29th – West Pam Beach – teaching Cannabis and Taxes to EAs and CPAs for the Palm Beach Chapter of the FSEA

Former Justice of the Peace at War with the IRS

Keith Bee, a former Justice of the Peace, in Pima County, AZ, faces three counts of making a false tax return and one count of corruptly endeavoring to impede the administration of internal revenue laws.

Bee was also the owner of Bee Line Transportation, a bus company, and from 2011 to 2013, claimed business expenses for his bus company which included the purchase of six Ford Mustangs, a Porsche 911 Carrera, a swimming pool, spa, landscaping and custom concrete work at his residences in Tucson and Washington State. In addition, for those tax years, Bee claimed depreciation of personal assets as business expenses and in 2012, failed to report $178,000 in capital gains.

The IRS began an audit of Bee’s 2011 tax returns and it was expanded to include the 2012 and 2013 tax years. Bee met with IRS agents during the course of the audit and provided the IRS with vendor invoices which did not match the invoices obtained from the vendors.

According to Bee’s attorney, Michael Piccarreta, he said, “The evidence will show, reasonable, good-faith disputes over what is deductible but no ill intent. I certainly don’t think there was any criminal behavior.”

A trial date is set for November 2018.

A Bit of Humor…

“Tax day is the day that ordinary Americans send their money to Washington, D.C., and wealthy Americans send their money to the Cayman Islands.” – Jimmy Kimmel

Couple Could Face a Whopping 261 Years in Prison

A federal grand jury issued a 34-count indictment against a Louisiana couple, Denis and Donna Joachim and their company, The Total Financial Group, Inc. In addition to 14 counts of aiding or assisting in the preparation of false statements on federal income tax returns, one count of conspiracy to defraud the IRS, the remaining charges ranged from wire fraud to money laundering.
Court records indicate that the couple operated a fraudulent medical reimbursement program that resulted in a $40 million loss to the IRS and participants in the program.  The program was marketed to employers as a supplemental benefits plan for their employees to reimburse them for medical expenses such as co-pays and deductibles. Total Financial charged employees a fee of between $150 and $250 per month and the employer a fee of 5% of each employee’s contribution amount.

I’d like to hear from you…

If you have an 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.

Jeffrey Schneider, EA, CTRS, NTPI Fellow
Phone: 877.355.8010
738A Colorado Ave
Stuart, FL 34994

Thank you for your kind words

“I have used SFS Tax & Accounting Services for many years now, and have found them to be reliable and always responsive to any questions I have had. They are always top-notch, friendly as well as professional and I would recommend them to any individual or business.”
-Jordan Zandstein.

Q & A

Question: Do I have to pay taxes on my cryptocurrencies?

Answer: If you live in the US or are a US citizen, you owe taxes on a cryptocurrency sale. Whether it is a sale of bitcoin for dollars. Or if you sold bitcoin for ripple. You still owe taxes! In fact, every single sale of a bitcoin or any other cryptocurrency– whether it was for crypto or for dollars, needs to be reported to the IRS.

The IRS has already established a team dedicated to tracking down cryptocurrency tax evaders, and they’ve forced some of the biggest exchanges (e.g. Coinbase) to turn over user information on trades. So yeah, you could avoid the taxman for a while, but if you don’t include crypto trades on your tax return and you’ve been trading they will eventually catch up with you and wipe away all your gains.

Our clients generally NEVER meet or speak with the IRS. We handle everything for you, so you don’t have to take time away from your job or business to deal with all of the IRS’s paperwork. Just forward your notice to us, and we’ll handle the rest. Don’t let them walk all over you. We know the law. We know your rights. We can help!

Cranberry- Cherry Compote

Jeff loves the side dishes that I prepare for our Thanksgiving feast. His most favorite is the cranberry compote. He has hinted often enough to make it more often…to no avail! Maybe this year I’ll give in… LOL!!!

It was all hands on deck again this year. Jeff deep fried a turkey for the first time and our daughter baked the apple pie. My Dad enjoyed doing nothing but eating and watching football along with Austin, Marissa’s boyfriend.

I was so happy to have my family participate in the holiday preparations. It made my day.

The recipes will be posted to the Pinterest board, Holiday Feasting.

Find the recipes on the SFS Tax Problem Solution Pinterest page along with other pins and videos.

SFS Tax Problem Solutions | info@sfstaxacct.com | 772.337.1040 | sfstaxproblemsolutions.com

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