Tax Preparer Penalty Defense Firm + Former IRS Agents + We Know the System

Posted on by Michael Sullivan Fresh Start Tax Expert

 

We are AFFORDABLE tax firm that can help resolve any IRS tax problem including tax preparer penalties.   Since 1982.  A plus Rated BBB, use Former Agents who know the system!

 

You can have back tax assistance by former IRS agents that were teaching instructors with the Internal Revenue Service.

As former IRS agents supervisors and teaching instructors we had great value to any tax  preparer trying to sort out any problem.

We have over 65 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service.

We are one of the most experienced tax firms in the industry and are available for free initial tax consultation.

 

Summary of Preparer Penalties under Title 26

IRC § 6694 – Understatement of taxpayer’s liability by tax return preparer.

IRC § 6694(a) – Understatement due to unreasonable positions.  The penalty is the greater of $1,000 or 50% of the income derived by the tax return preparer with respect to the return or claim for refund.

IRC § 6694(b) – Understatement due to willful or reckless conduct.  The penalty is the greater of $5,000 or 50% of the income derived by the tax return preparer with respect to the return or claim for refund.

IRC § 6695 – Other assessable penalties with respect to the preparation of tax returns for other persons.

IRC § 6695(a) – Failure to furnish copy to taxpayer.  The penalty is $50 for each failure to comply with IRC § 6107 regarding furnishing a copy of a return or claim to a taxpayer. The maximum penalty imposed on any tax return preparer shall not exceed $25,000 in a calendar year.

IRC § 6695(b) – Failure to sign return.  The penalty is $50 for each failure to sign a return or claim for refund as required by regulations.  The maximum penalty imposed on any tax return preparer shall not exceed $25,000 in a calendar year.

IRC § 6695(c) – Failure to furnish identifying number.  The penalty is $50 for each failure to comply with IRC § 6109(a)(4) regarding furnishing an identifying number on a return or claim.  The maximum penalty imposed on any tax return preparer shall not exceed $25,000 in a calendar year.

IRC § 6695(d) – Failure to retain copy or list.  The penalty is $50 for each failure to comply with IRC § 6107(b) regarding retaining a copy or list of a return or claim.  The maximum penalty imposed on any tax return preparer shall not exceed $25,000 in a return period.

IRC § 6695(e) – Failure to file correct information returns.  The penalty is $50 for each failure to comply with IRC § 6060.  The maximum penalty imposed on any tax return preparer shall not exceed $25,000 in a return period.

IRC § 6695(f) – Negotiation of check.  The penalty is $500 for a tax return preparer who endorses or negotiates any check made in respect of taxes imposed by Title 26 which is issued to a taxpayer.

IRC § 6695(g) – Failure to be diligent in determining eligibility for earned income credit.  The penalty is $500 for each failure to comply with the EIC due diligence requirements imposed in regulations.

IRC § 6700 – Promoting abusive tax shelters
The penalty is for a promoter of an abusive tax shelter and is generally equal to $1,000 for each organization or sale of an abusive plan or arrangement  (or, if lesser, 100 percent of the income derived from the activity).

IRC § 6701 – Penalties for aiding and abetting understatement of tax liability.
The penalty is $1000 ($10,000 if the conduct relates to a corporation’s tax return) for aiding and abetting in an understatement of a tax liability.  Any person subject to the penalty shall be penalized only once for documents relating to the same taxpayer for a single tax period or event.

IRC § 6713 – Disclosure or use of information by preparers of returns.
The penalty is $250 for each  unauthorized disclosure or use of information furnished for, or in connection with, the preparation of a return.  The maximum penalty on any person shall not exceed $10,000 in a calendar year.

IRC § 7206 – Fraud and false statements.
Guilty of a felony and, upon conviction, a fine of not more than $100,000 ($500,000 in the case of a corporation), imprisonment of not more than three years, or both (together with the costs of prosecution).

IRC § 7207 – Fraudulent returns, statements, or other documents.
Guilty of a misdemeanor and, upon conviction, a fine of not more than $10,000 ($50,000 in the case of a corporation), imprisonment of not more than one year, or both.

IRC § 7216 – Disclosure or use of information by preparers of returns.
Guilty of a misdemeanor for knowingly or recklessly disclosing information furnished in connection with a tax return or using such information for any purpose other than preparing or assisting in the preparation of such return.  Upon conviction, a fine of not more than $1,000, imprisonment for not more than 1 year, or both (together with the costs of prosecution).

IRC § 7407 – Action to enjoin tax return preparers.
A federal district court may enjoin a tax return preparer from engaging in certain proscribed conduct, or in extreme cases, from continuing to act as a tax return preparer altogether.

IRC § 7408 – Action to enjoin specified conduct related to tax shelters and reportable transactions
A federal district court may enjoin a person from engaging in certain proscribed conduct (including any action, or failure to take action, which is in violation of Circular 230)

 

Call us today for a free initial tax consultation and speak directly to a former IRS agent, former manager or teaching instructor about the various options available to you.

We can help you with any taxpayer defense and representation.

Free professional evalulation.1-866-700-1040

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Tax Preparer Representation for IRS Problems + Former IRS

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    We are affordable tax firm that can resolve any IRS tax problem including tax preparer penalities and issues.   Since 1982.  A plus Rated BBB   We are true experts on giving you every possible  option to resolve you tax preparer issue. You can have back tax assistance by former IRS agents that were teaching instructors with the Internal Revenue Service. As former IRS agents supervisors and teaching instructors we had great value to any tax  preparer trying to sort out any problem. We have over 65 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service. We are one of the most experienced tax firms in the industry and are available for free initial tax consultation.   Summary of Preparer Penalties under Title 26 IRC § 6694 – Understatement of taxpayer’s liability by tax return preparer. IRC § 6694(a) – Understatement due to unreasonable positions.  The penalty is the greater of $1,000 or 50% of the income derived by the tax return preparer with respect to the return … Continue reading

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TAX PREPARER + Help with IRS + Preparer Penalties + FORMER IRS, AFFORDABLE EXPERTS

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  We are affordable tax firm that can resolve any IRS tax problem including tax preparer penalities and issues.   Since 1982.  A plus Rated BBB.   We are true experts on giving you every possible  option to resolve you tax preparer issue. You can have back tax assistance by former IRS agents that were teaching instructors with the Internal Revenue Service. As former IRS agents supervisors and teaching instructors we had great value to any taxpayer trying to sort out the different options. We have over 65 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service. We are one of the most experienced tax firms in the industry and are available for free initial tax consultation.   Summary of Preparer Penalties under Title 26 IRC § 6694 – Understatement of taxpayer’s liability by tax return preparer. IRC § 6694(a) – Understatement due to unreasonable positions.  The penalty is the greater of $1,000 or 50% of the income derived by the tax return preparer with respect to the return or … Continue reading

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Is Debt Cancellation Taxable + What you Need To Know

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  Debt Cancellation May be Taxable   If a lender cancels part or all of a debt, a taxpayer must generally consider this as income. However, the law allows an exclusion that may apply to homeowners who had their mortgage debt canceled in 2016. Here are tips about debt cancellation: 1. Main Home. If the canceled debt was a loan on a taxpayer’s main home, they may be  able to exclude the canceled amount from their income. They must have used the loan to buy, build or substantially improve their main home to qualify. Their main home must also secure the mortgage. 2. Loan Modification. If a taxpayer’s lender canceled or reduced part of their mortgage balance through a loan modification or ‘workout,’ the taxpayer may be able to exclude that amount from their income. They may also be able to exclude debt discharged as part of the Home Affordable Modification Program, or HAMP. The exclusion may also apply to the amount of debt canceled in a foreclosure. 3. Refinanced Mortgage. The exclusion may apply to amounts canceled on a … Continue reading

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Immediate Levy Releases and Settlements +Ft.Lauderdale, Miami

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    Immediate Levy Releases and Settlements at the same time! Affordable. Former Agents who know system. Since 1982     954-492-0088       If you are currently dealing with the Internal Revenue Service and need immediate and permanent tax resolution contact us today and we can get your IRS tax levy or wage garnishment levy removed once and for all. We can not only get your IRS tax Levy or wage garnishment levy removed we can also settle your case with the Internal Revenue Service at the same time. We have worked hundreds and hundreds of cases right here in South Florida and are one of the most experience in seasons tax firms in Fort Lauderdale and Miami. We are one of the most affordable choices for South Florida and have been in practice right here since 1982. We are A+ rated by the Better Business Bureau. You need help dealing with a IRS Tax Levy or Wage Garnishment, contact Former IRS Agents today who know the remedies of relief. Dealing with a IRS Tax Levy, Wage Garnishment, Tax Liens … Continue reading

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Child and Dependent Care Tax Credit + What You Need To Know

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  Understanding the Child and Dependent Care Tax Credit   The IRS urges people not to overlook the Child and Dependent Care Tax Credit. Eligible taxpayers may be able claim it if they paid for someone to care for a child, dependent or spouse last year. Taxpayers can use the IRS Interactive Tax Assistant tool, Am I Eligible to Claim the Child and Dependent Care Credit?, to help determine if they are eligible to claim the credit for expenses paid for the care of an individual to allow the taxpayer to work or look for work. Eight other key points about this credit include:   1. Work-Related Expenses. The care must have been necessary so a person could work or look for work. For those who are married, the care also must have been necessary so a spouse could work or look for work. This rule does not apply if the spouse was disabled or a full-time student.   2. Qualifying Person. The care must have been for “qualifying persons.” A qualifying person can be a child under age 13. … Continue reading

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Help STOP IRS Levies on Wage Garnishment, Paycheck, Bank Accounts + Former IRS Agents, System Knowledge

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  Immediate Levy Releases and Settlements at the same time! Affordable. Former Agents who know system. Since 1982   If you are currently dealing with the Internal Revenue Service and need immediate and permanent tax resolution contact us today and we can get your IRS tax levy or wage garnishment levy removed once and for all. We can not only get your IRS tax Levy or wage garnishment levy removed we can also settle your case with the Internal Revenue Service at the same time. We have worked hundreds and hundreds of cases right here in South Florida and are one of the most experience in seasons tax firms in Fort Lauderdale and Miami. We are one of the most affordable choices for South Florida and have been in practice right here since 1982. We are A+ rated by the Better Business Bureau. You need help dealing with a IRS Tax Levy or Wage Garnishment, contact Former IRS Agents today who know the remedies of relief.   Dealing with a IRS Tax Levy, Wage Garnishment, Tax Liens   Being a … Continue reading

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Are Unemployment Benefits Taxable + What YOU Need to Know, Former IRS

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    Unemployment Benefits   Taxpayers who received unemployment benefits need to remember that it may be taxable.   Here are  key facts about unemployment: 1. Unemployment is Taxable. Include all unemployment compensation as income for the year. Taxpayers should receive a Form 1099-G, Certain Government Payments, by Jan. 31. This form shows the amount received and the amount of any federal income tax withheld. 2. There are Different Types. Unemployment compensation includes amounts paid under federal law or state law as well as railroad, trade readjustment and airline deregulation laws. Even some forms of disability payments can count. For more information, see IRS Publication 525. 3. Union Benefits May be Taxable. Benefits received from regular union dues as income might be taxable. Other rules may apply if a taxpayer contributed to a special union fund and those contributions to the fund are not deductible. In this case, report only income exceeding the amount of contributions made. 4. Tax May be Withheld. Those who receive unemployment can choose to have federal income tax withheld by using Form W-4V, Voluntary Withholding … Continue reading

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IRS Tax Negotiation Experts + Ft.Lauderdale, Miami, West Palm Beach + Former IRS

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  We are an affordable professional tax firm with over 95 years of direct IRS work experience. Since 1982, Local South Florida Tax Experts IRS experts.   We worked out of the local South Florida IRS offices. We worked in the audit, collections, and appeals division as well as former IRS teaching instructors. We have over 95 years of working directly in the South Florida IRS offices. There is no South Florida firm with that much experience. We know all the systems in the IRS  formulas and methodologies to resolve/negotiation  any IRS tax debt or problem. I was a former IRS agent that taught the offer in compromise program. I know all the formulas to negotiate tax debt.   Last year over 78,000 offers in compromise were filed by taxpayers and over 38% of those were accepted for average of $6500 per case. Keep in mind this is a national average in your case is completely dependent on your individual financial statement. We will not file for an offer in compromise unless you are a true candidate for the program. … Continue reading

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IRS Tax Garnishment Help + Wages, Payroll, Bank + Affordable, Former IRS + Ft.Lauderdale Experts

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    We are affordable professional tax firm that can get relief an IRS tax levy, garnishment immediately.     Since 1982 A+ rated by the BBB.   We are your best course of action for IRS tax levy, garnishment, payroll help and tax defense. We are the affordable local professional firm that knows the system inside and out. We are composed of CPAs and former IRS agents who have over 65 years of working directly for the Internal Revenue Service in the local, district, and regional South Florid tax offices of the Internal Revenue Service. We are a local tax firm practicing in South Florida since 1982. There is a very specific system used to get an IRS tax levy released, whether it be a bank levy or wage garnishment levy. Being former IRS agents we know the system to get the levy and or garnishment released and settle your case. Not only were we former IRS agents and teaching instructors we also taught new IRS agents or jobs. When you have received an IRS tax levy it only makes sense … Continue reading

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