Superheros, Lawyers and CPA's
Vern Hoven was one of the principal instructors at the Indiana CPA Society’s Vern Hoven Two Day Federal Tax Update on November 9th and 10thin Indianapolis. Vern has been a leading instructor for the past 20 years. Tom and Rick found Vern Hoven to be a walking encyclopedia on CPA tax issues. He’s "the teacher" to the experts. He is also the author of The Real Estate Investor's Tax Guide: What Every Investor needs to Know to Maximize Profits (3rd edition). Vern has been instructing CPA’s throughout Indiana with Indiana CPA Society seminars in Indianapolis, Carmel, Evansville, South Bend, and Fort Wayne.
Vern stated IRS audits will increase: be prepared. To be prepared Vern emphasized that it is important for CPA’s to involve attorneys early in the IRS audit process. The IRS is playing hardball and he believes that CPA’s should not be waiting to see how the audit comes out. Vern stated that attorneys should be involved at the beginning of an audit because once it is completed, it is too late. The same is true when there are Trust Fund payment issues, tax money that the employer is by law required to pay on employee’s wages.
Which makes more sense? Calling Batman on the Bat phone when the Joker first arrives in town or after the Joker has been running all over town? You would immediately call Batman, right? Our experience also is that the earlier an attorney is involved in tax matters, the greater the opportunity for a more favorable outcome for a client. That is how CPA’s can be a Superhero to their clients, bringing in an attorney to work as a team on the client’s tax issues. A good team includes CPA’s, attorneys, and great clients working together on tax issues. It can make an important difference. That’s why we encourage CPA’s to become Superheros to their clients!
Ebbinghouse Law Group was proud to be a Gold Sponsor at the Indiana CPA Society’s Two Day Federal Tax Update.
Tax Returns for 2010 Due April 18, 2011
The Indiana Department of Revenue has announced that like federal income tax returns for 2010, the filing deadline for Indiana Income tax returns for 2010 is April 18, 2011 due to observance of Emancipation Day in Washington, D.C. on the usual date (April 15).
Even if you cannot pay the tax that is due, you can avoid penalties by filing your tax return on time. Congress has mandated to the IRS that it shall impose a penalty for filing your tax return late. The penalty is five percent per month up to a maximum of 25%, of the tax due but unpaid by the due date of the return. This works out to be an annualized rate of 60%!! When you add in interest, and late penalty, this can be an effective annual rate of interest in excess of 75%.
Many people also forget that failing to file your tax return is a crime.
Do You Want Your Tax Challenges To Make You An Example?
You’ve worked hard in your profession and in your business and your success has brought you recognition and notoriety. When you go to the club or out to dinner, you get treated differently because of who you are. The same could be true when you have a tax challenge. Only in this case, the IRS might want to make an example out of you. According to CNNMoney.Com: “Prevention seems to be the most effective way for the IRS to get its money. The best tactic? Setting examples of celebrities who run afoul of tax laws.”
Penske Racing's Helio Castroneves, Willie Nelson, and Wesley Snipes are three examples of successful people whose tax challenges have made the papers and been on TV. Doctors, securities brokers, loan officers, businessmen, dentists, pastors, salesmen, owners of businesses, accountants and attorneys are all prominently identified by their profession on the IRS website detailing 2009 tax fraud investigations.
Failing To File Your Tax Return Is A Crime
Most people have heard of the civil money penalties and interest for failing to file their tax returns: the failure to file penalty and the interest that is owed on the amount that they did not pay. They think that the worst thing that can happen is that they have to give the IRS more money when they finally straighten things out.
Warning: it is a crime to not file your return.
Wesley Snipes found out this out the hard way. Wesley Snipes is reported to have originally have been charged with federal tax fraud and conspiracy as well as the charges for failing to file a return. He was convicted of failing to file his returns for three years. 26 USC §7203 states that willfully failing to file a tax return is a misdemeanor federal offense and those convicted shall be fined not more than $25,000 ($100,000 in the case of a corporation), or imprisoned not more than 1 year, or both, together with the costs of prosecution. Snipes continues to appeal his conviction.
Why Choose Ebbinghouse Law Group
Six reasons to choose Ebbinghouse Law Group LLC for your IRS tax challenge.
Reason One.
You will be a priority with the Ebbinghouse Law Group. You might think you and your problem will get lost or become a number given that we work with so many clients.
You might think you will receive more personalized service and attention from a less successful attorney. There is a difference between “more attention” and best possible results for you.
The point of the process is to resolve your tax challenge quickly with the best outcome possible for you and with the least inconvenience and hassle for you.
We deliver an outstanding, exceptionally responsive client experience. We are organized and equipped to efficiently and successfully manage your tax challenge with the IRS, yet have each client feel as if they were our only client.
We do not compromise-there is no reason to sacrifice experience and knowledge, when you have an attorney with more than 40 years experience working for you, in order to get personalized “V.I.P. treatment.”
Reason Two.
You will have an attorney working for you who was admitted to the Tax Court, has litigation experience, and is a member of the American Society of Tax Problem Solvers.
You may be tempted to have a friend, relative or someone else that is less qualified who will offer a bargain basement price. We understand the temptation to give business to a friend or relative, especially if that person offers to cut their fees. Bluntly, there is no point in wasting your time attempting to negotiate fees; we do not discount fees. Anyone cutting/discounting fees must also cut and compromise the investment made in time and consideration given to your tax matter. Someone’s inexperience may cost you months to years of delay, may cost you thousands or even tens of thousands of dollars.
We know your tax challenge is of substantial financial importance to you. We understand the consequences to your lifestyle, reputation, ability to work in your community, and future for your family.
Reason Three
Teamwork - you will have an attorney whose focus is tax resolution. It is what we do full time and we put that to work for you from the beginning of the process, such as the initial investigation, to resolution with the best possible outcome custom-designed for your benefit. We work as a team and take a team approach to resolve your tax problem. You should know that each member of the Ebbinghouse Law Group has been hand-picked and trained. Your team has the resources, training, and leadership to manage your tax issue through every step to a successful resolution, with every “i” dotted and “t” crossed. Peace of mind for you!
Reason Four
You will have an experienced tax attorney working for you who focuses on tax problem resolution. Certainly, all tax attorneys do basically the same things in the broad, general sense; they investigate, review options, and present opportunities concerning tax laws. But this is like saying all doctors do basically the same thing. However, there are certain doctors with a much higher level of experience and knowledge in their chosen area. There are doctors that affluent, knowledgeable patients travel great distances to see.
Admittedly, the Ebbinghouse Law Group is not the best choice for all people with tax challenges. We attract, and have engineered our entire approach to tax problem resolution and serving our clients for individuals who have a profound preference for “the best”, for having the most respected, qualified, and capable professional handling their affairs. If they have a medical need, they seek out the best doctor, not just any doctor. So, for the very important financial matter of a tax problem, they seek out and choose the most experienced and knowledgeable tax attorney they can retain who handles tax challenges. If this describes you, then you know very well that all tax attorneys simply cannot be the same.
Reason Five
You will have a tax attorney who knows how to deal with the IRS. It may be true that you can get your tax issue resolved by just any tax representative, or even by doing it yourself. In less stressed economic times it makes it easier for inexperienced attorneys, or attorneys with limited resources to investigate and offer suitable resolutions. But with our new economic reality, the IRS is becoming more and more difficult to work with and less amenable to a resolution that is in your best interest.
There can be a very big difference between just getting your tax problem resolved and it being solved with the solution that is right for you.
Experience and knowledge really matter-at any time, in any type of economic climate. Here’s why: You not only want your tax problem resolved as quickly as possible, but you want it resolved with the best possible outcome for you. You want it determined without embroiling you in messed up documents, disputes, confusion, or unnecessary meetings with IRS officials, disrupting your life. You want a smooth, flawless business transaction. This is the kind of totally satisfying experience we pride ourselves on delivering to the client.
Reason Six
You will have the satisfaction of knowing that you have received wise counsel that is based in reality and has worked with you to discover the right solution for you. Anybody can promise anything! The thing is, if a representative makes you feel good by suggesting a solution that is actually unrealistic and unattainable, there’s no downside to him/her. He/She can later start bringing substantially worse offers and urge you to accept them. Stating a solution that is too low and unreasonable to the IRS is a costly mistake. We avoid solutions that will be rejected as not meeting the requirements that the IRS must have and we continue to monitor what the IRS is doing through our sources across that United States. Our process may mean more time in preparing a solution that will meet the requirements of the IRS, that will take into account your unique needs and financial position, and will actively help you rearrange your situation to your best advantage to solve your tax problems; however, this may actually save you weeks or months in getting your tax problem resolved because you are not wasting time with "solutions" that would never work.
Given all the facts of what we provide for our client, we frankly cannot imagine any good reasons to choose another tax attorney.
Except One-
You might not qualify to be an Ebbinghouse Law Group client, or we may not accept your tax problem. If we do not believe we can successfully bring resolution to your tax issue in a period of time that will satisfy you or for an outcome that will financially satisfy you, we will not accept you as a client and we do, in fact, turn down potential clients. We also only accept and manage a certain number of cases at any one time, so there may be a time when we cannot immediately take your case, and you will have to be put on a waiting list or choose a different attorney. Finally, you have to understand and embrace our Ebbinghouse Law Group team approach. If we decide that you will not be well served or fully satisfied with our services, we will not accept you as a client.
Peace of Mind
If you have an IRS problem, you can reach me at 317-614-2355. I can help you with your Audit, Installment Agreement, Offer In Compromise, or just finding out where you are with the IRS. Many clients find peace of mind with me on the case because you never have to talk directly to the IRS again. I will handle all contact with the IRS.