The use of offshore accounts to avoid taxes is not particularly new. However, in a globalized world, are they still a safe way for tax dodgers to hide their income? Check out some of these recent tax scandals to see.
When he came to Direct Tax Relief, James* was in IRS debt to the tune of over $118,000 in back taxes, fees and penalties. DTR immediately filed a settlement offer on James’ behalf. The IRS took nearly six months to assign an Offer Examiner to the case, and, despite repeated contact with DTR, the offer was rejected. Luckily, that didn’t stop them from continuing to pursue a resolution.
Recently CNN reported on a raid of Gladys Knight’s Signature Chicken & Waffles restaurant by Georgia’s Department of Revenue. Shanga Hankerson, Knight’s son, was accused of stealing roughly $650,000 by withholding sales taxes owed to the state. This high-profile case should serve as a cautionary tale to small businesses everywhere: The risk of not complying with sales tax just isn’t worth it.
Everyone has heard the tried-and-true business tips. Things like “identify your target consumers,” “emphasize customer service” and “network, network, network.” But what about all of the other stuff that goes into running a successful small business? We’ve gathered a few lesser-known small business tips to help you grow.
Small businesses are weighed down with a bevy of taxes (and soon they will face changing overtime policies, too). For every employee, businesses have payroll taxes that are paid throughout the year (rather than just on April 15). But what happens if you get behind and can’t pay? Or what if your business goes under? Read on to learn more about employer taxes and payroll tax debt relief.
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