Tax Defense

mistake on taxes already filed

When You Make a Mistake on Taxes Already Filed, Here’s What Happens

Filling out your tax return is incredibly complicated. There are dozens of numbers to add, deductions to find, and countless forms and schedules to include. With all that, the average American spends roughly eight hours preparing their tax return each year. That’s the length of the average work day! So, it makes sense that mistakes …

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IRS seizure

Keep Your Stuff: How to Protect Yourself from an IRS Seizure

Constitutional requirements and amendments demand all citizens pay taxes. Naysayers argue and advocate against tax law, but no one is exempt from paying them.  Foregoing regulated prerequisites of tax law could subject you to an IRS seizure.  Miseducated tax filers account for $458 billion in unpaid taxes. Blame confusion, accounting mishaps or nefarious deception. Tax filers …

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IRS contractors

Pioneer and Other IRS Third-party Contractors

On behalf of Silver Tax Group posted in Tax Defense on Tuesday, November 21, 2017. “As you were previously notified Pioneer Credit Recovery, Inc., (PCR) a private collection agency, is a contractor for the Internal Revenue Service (IRS) assigned to collect your past due tax obligations.” When did the IRS start using third party collection agencies to collect back …

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new bill regarding digital currency

Failing to Report Side Income Has Consequences

On behalf of Silver Tax Group posted in Tax Crimes on Wednesday, September 27, 2017. From the perspective of the IRS, all income from any source is subject to taxation. However, many taxpayers (including those living in Michigan) are failing to report all of the money they receive. Data about failure to report side income According to an article from …

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tax sharing agreements and IRS

Tax-sharing Agreements not Binding upon the IRS

On behalf of Silver Tax Group posted in Back Taxes on Thursday, June 15, 2017. There is much that Michigan taxpayers need to consider before entering tax-sharing agreements with other parties. Most importantly, these sorts of agreements are not binding upon the IRS. Joint income tax return For example, the IRS recently disallowed a number of rental property loss …

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IRS tax refunds

The Seizure of IRS Tax Refunds

On behalf of Silver Tax Group posted in Back Taxes on Wednesday, May 24, 2017. Many Michigan taxpayers anticipate receiving a tax refund. However, sometimes the processing of a refund takes time. And, unfortunately, there are also certain circumstances when the refund may never come. The Treasury Department’s Bureau of the Fiscal Service does more than just issue tax refunds. …

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retirement tax mistakes and tax consequences

Retirement, tax mistakes and tax consequences

On behalf of Silver Tax Group posted in Tax Defense on Wednesday, March 15, 2017. The last thing any retiree would like to see happen is to have their plans interrupted due to tax difficulties. Yet with the complex rules regarding calculating income, minimum withdrawals from retirement accounts, and deducting various expenses, mistakes made in filing tax returns are …

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fantasy sports and IRS tax

Fantasy Sports And IRS Tax Mistakes: A Case Study

On behalf of Silver Tax Group posted in Tax Defense on Thursday, October 13, 2016. Fantasy sports have become a booming business in recent years, and that trend looks to continue through 2016 and beyond. In recent years, Forbes estimated that fantasy football itself was between a $40 billion and $70 billion industry. When these traditional game types are …

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