Recent articles by Darrin Mish.http://www.trcb.com/en-Us60Sat, 26 May 2012 08:02:41 ESTCopyright 2012 Darrin Mish, TRCB.com All Right Reservedhttp://www.trcb.com/finance/taxes/cancelled-debt-is-considered-taxable-income-1166.htmFor anyone who's ever been in a serious debt, getting the credit card company or any other creditors to reduce or even cancel your debt is like the best thing that could ever happen to you and your family. You record will be clear, and you no longer will have the burden of all that debt hanging over your head.Thu, 28 Aug 2008 18:59:26 ESThttp://www.trcb.com/finance/taxes/cancelled-debt-is-considered-taxable-income-1166.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/consequences-of-not-filing-your-taxes-as-soon-as-possible-1165.htmMany people have heard of the horror stories of those who have experienced an IRS problem. Unfortunately, no matter how ridiculous some stories are, most of them are factual in one way or another.Thu, 28 Aug 2008 18:59:18 ESThttp://www.trcb.com/finance/taxes/consequences-of-not-filing-your-taxes-as-soon-as-possible-1165.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/what-to-do-in-the-event-of-an-irs-audit-1164.htmYou have rights to ensure that you will be fairly treated regardless of what your IRS problem is. You need to know what your rights are to be safeguarded during an IRS audit.Thu, 28 Aug 2008 17:09:35 ESThttp://www.trcb.com/finance/taxes/what-to-do-in-the-event-of-an-irs-audit-1164.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/stop-storing-those-tax-records-1163.htmIn case you ever get audited, it's better to save your tax records, rather than throwing them away. Unfortunately, you will end up keeping more papers and documents than you have to keep.Thu, 28 Aug 2008 17:09:28 ESThttp://www.trcb.com/finance/taxes/stop-storing-those-tax-records-1163.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/whats-an-irs-oic-1162.htmAn Offer in Compromise is usually known as an IRS OIC. By paying only a percentage amount of the total bill, you can basically clear up your tax debt if an IRS OIC is accepted.Thu, 28 Aug 2008 17:08:43 ESThttp://www.trcb.com/finance/taxes/whats-an-irs-oic-1162.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/correctly-file-your-taxes-while-working-overseas-1161.htmYou have to understand that you're obliged to pay taxes by the US government if you are an American citizen living overseas. If you do not know how, you will find that it's a rather simple process.Thu, 28 Aug 2008 17:08:33 ESThttp://www.trcb.com/finance/taxes/correctly-file-your-taxes-while-working-overseas-1161.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/what-if-the-irs-makes-a-mistake-1160.htmThere is a horror story that each tax advisor can tell about the IRS committing mistakes in the thousands of dollars. In 1986 alone, nearly $2.5 billion in penalties were assessed by the IRS, while $890 million were dropped.Thu, 28 Aug 2008 17:08:24 ESThttp://www.trcb.com/finance/taxes/what-if-the-irs-makes-a-mistake-1160.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/relocate-to-florida-or-alaska-to-steer-clear-of-additional-taxes-in-retirement-1158.htmWhen retired, you can accomplish anything you want to do. But it also means you will be living on a fixed income, so cutting corners where possible is a necessity. The taxes you pay the IRS are no exception.Thu, 28 Aug 2008 17:08:17 ESThttp://www.trcb.com/finance/taxes/relocate-to-florida-or-alaska-to-steer-clear-of-additional-taxes-in-retirement-1158.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/irs-negotiation-advice-1154.htmThe first law when negotiating with the IRS with regards to back taxes and tax debt is that you should assess whether or not they will make a deal or compromise with you on an alternative payment figure.Thu, 28 Aug 2008 17:08:09 ESThttp://www.trcb.com/finance/taxes/irs-negotiation-advice-1154.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/finance/hire-the-best-tax-lawyer-1152.htmAddressing IRS problems and tax problems are definitely a serious case. Getting an experienced, knowledgeable, and ethical IRS tax lawyer is in your best interest.Thu, 28 Aug 2008 17:08:03 ESThttp://www.trcb.com/finance/finance/hire-the-best-tax-lawyer-1152.htmTRCB.comFinance / Financehttp://www.trcb.com/finance/taxes/three-of-the-most-common-deductions-that-people-often-miss-1150.htmThe sad fact is, people are not able to benefit from all legal tax deductions simply because they don't know that these exist. They only find out about these deductions only when they have already filed their returns and it's already too late.Thu, 28 Aug 2008 17:07:43 ESThttp://www.trcb.com/finance/taxes/three-of-the-most-common-deductions-that-people-often-miss-1150.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/the-irs-flags-charitable-donations-so-do-it-right-1146.htmThe fact that you actually get something in return is one of the attractive reasons for giving to charitable institutions. Simply knowing that you have helped someone gives a general light feeling.Thu, 28 Aug 2008 17:07:31 ESThttp://www.trcb.com/finance/taxes/the-irs-flags-charitable-donations-so-do-it-right-1146.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/procedures-in-filing-for-your-tax-returns-1145.htmWhen tax season rolls around every year, people have a tendency to go through the motions and file their taxes the same way that they have always filed them. This is a wonderful scenario as basically, they are complying with their tax obligations.Thu, 28 Aug 2008 17:07:24 ESThttp://www.trcb.com/finance/taxes/procedures-in-filing-for-your-tax-returns-1145.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/claiming-a-home-office-for-your-online-business-1143.htmYou will need to file your taxes even if the transactions of your business are largely offline, partly online or completely online. When it comes to tax season, you're in the same situation with other types of businesses.Thu, 28 Aug 2008 17:07:16 ESThttp://www.trcb.com/finance/taxes/claiming-a-home-office-for-your-online-business-1143.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/tax-deductions-that-are-immediate-red-flags-for-an-auditor-1126.htmIt is natural for taxpayers to try to claim as many deductions on their yearly tax returns. It is clear that they do not want the IRS any more than they actually have to, and that they want to pay less as much as possible.Thu, 28 Aug 2008 17:07:09 ESThttp://www.trcb.com/finance/taxes/tax-deductions-that-are-immediate-red-flags-for-an-auditor-1126.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/how-retirees-can-save-on-their-taxes-1125.htmPeople constantly look for tips and ways for them to earn more money and at a faster rate. Because of the focus on this task, people forget that a higher income will also cost them higher taxes.Thu, 28 Aug 2008 17:07:00 ESThttp://www.trcb.com/finance/taxes/how-retirees-can-save-on-their-taxes-1125.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/some-common-irs-flags-for-audits-1124.htmIt's necessary for any taxpayer to know what entries in the tax return will lead to potential problems with the IRS. For everyone's information, the IRS has computers that will process almost all tax returns and these will simply look for anything that is 'out of the ordinary' when compared to the statistical average.Thu, 28 Aug 2008 17:06:53 ESThttp://www.trcb.com/finance/taxes/some-common-irs-flags-for-audits-1124.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/non-filer-make-it-right-with-the-irs-1123.htmIf you haven't been filing your tax returns for quite some time, chances are, you are have been harassed by the IRS now. The IRS may have already sent you notices urging you to settle your tax obligations now.Thu, 28 Aug 2008 17:06:45 ESThttp://www.trcb.com/finance/taxes/non-filer-make-it-right-with-the-irs-1123.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/some-tax-misconceptions-that-many-people-continue-to-believe-in-1122.htmPeople believe that if they have already been filing for their taxes for so many years, they become experts in filing procedures and requirements. However, unless you are a tax professional, it will be difficult for you to remain updated with all the changes since the tax code is undergoing revisions almost annually and there are hundreds of different codes for almost all situations.Thu, 28 Aug 2008 17:01:47 ESThttp://www.trcb.com/finance/taxes/some-tax-misconceptions-that-many-people-continue-to-believe-in-1122.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/taxes-marriage-and-divorce-1120.htmWord is circulating that a large percentage of people in the United States actually pay more taxes than they are supposed to. For many, doing so is like throwing away their hard-earned money.Thu, 28 Aug 2008 17:01:34 ESThttp://www.trcb.com/finance/taxes/taxes-marriage-and-divorce-1120.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/manage-your-tax-payments-with-an-installment-agreement-1074.htmMany people discover that they owe the IRS substantial amounts of money only after they have filed their annual tax returns. Soon enough, the realization hits that they do not have the sufficient funds needed to pay such a large debt.Thu, 28 Aug 2008 17:01:27 ESThttp://www.trcb.com/finance/taxes/manage-your-tax-payments-with-an-installment-agreement-1074.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/is-there-a-statute-of-limitations-on-tax-debt-1073.htmPeople often question if there will come a point when after a period of collecting tax debts, the IRS can no longer claim the amount you owe them.Wed, 27 Aug 2008 22:46:16 ESThttp://www.trcb.com/finance/taxes/is-there-a-statute-of-limitations-on-tax-debt-1073.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/how-to-combat-the-irs-in-tax-court-1072.htmThey are human, too - IRS agents. Indeed, they might seem like they are heartless and tough. But they also commit errors.Wed, 27 Aug 2008 22:46:05 ESThttp://www.trcb.com/finance/taxes/how-to-combat-the-irs-in-tax-court-1072.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/correctly-adjusting-your-tax-withholding-allowance-1071.htmIn America, the most common way of making tax payments is through payroll withholdings. This is an automated process applied by the IRS to credit your tax bill by deducting a portion of your paycheck. Wed, 27 Aug 2008 22:45:53 ESThttp://www.trcb.com/finance/taxes/correctly-adjusting-your-tax-withholding-allowance-1071.htmTRCB.comFinance / Taxeshttp://www.trcb.com/finance/taxes/how-to-handle-irs-auditors-1070.htmThe taxpayer's worst fear is an IRS audit. You'll begin to wonder if you did your taxes correctly, even if you filed them honestly. They start fearing that they might end up in jail, or be subject to levies and penalties.Wed, 27 Aug 2008 22:44:20 ESThttp://www.trcb.com/finance/taxes/how-to-handle-irs-auditors-1070.htmTRCB.comFinance / Taxes