NYC Tax Advocates

My photo
Specializing in IRS and NYS Tax Representation. Workers Compensation Audits, Payroll, Sales and Income Tax representation for Businesses, Individuals, Restaurants and Construction Companies. Civil and Criminal Workers Comp Audit representation includes: NYSIF Examinations, Premium Disputes, Employee Misclassification, Underreporting, Unreported Income, and Failure to Keep Accurate Payroll Records.

Thursday, November 10, 2016

Rick Ross should have hired Selig & Associates: Rolling Stone, Rick Ross & Selig & Associates

Rick Ross responded to allegations that he owes an estimated $5.7 million in back taxes. The rapper/business mogul blamed his financial issues on an "incorrect filing" dating back to the 2012 tax year. 


"I am fully aware of my current dealings with the IRS," Ross said in a statement. "This issue arose from an incorrect filing by a prior accountant for the 2012 tax year. My new team of accountants have corrected the prior filing, and as anyone who has dealt with the IRS understands, it is a process. We have already satisfied a large portion of these issues and I can assure you that we are working very closely with the IRS to bring a full resolution shortly and will continue moving forward in a positive direction!"
"I've been fortunate enough to experience financial success on a large scale through both my music career and my many business ventures," he added. "With this type of financial success comes financial responsibility. As artists we are blessed to be able to make money, but on the same note, are held accountable for our federal tax obligations just like everyone else."
TMZ broke news of Ross' financial troubles Tuesday. According to legal documents obtained by the site, the rapper owed over $4.6 million for 2012 and around $570,000 for both 2013 and 2014. 
Ross released his last album, Black Market, in 2015, but he's remained active throughout the year. He recently released the Soundcloud track "No U-Turns,"teamed with the Lox for their song "Feel My Pain," added a boastful spin to Solange's "Cranes in the Sky" and united with Skrillex for the Suicide Squad collaboration "Purple Lamborghini."


At Selig & Associates, we can help you get back on the right track - even if you haven’t filed a tax return in years. In fact, in most cases we can help you obtain legal filing compliance in less than ONE week. And by the by, all State and Federal Tax Returns are prepared by licensed professionals, viz. Certified Public Accountants and Enrolled Agents. Call us today and schedule a free face-to-face consultation at our 7th Avenue offices. Call (212) 974-3435 or visit us online at: truetaxhelp.com
BUSINESS OWNERS BEWAREANYTHING YOU SAY MAY BE USED AGAINST YOU.
FYI - Some IRS Agents are specially trained to look for tax crimes and to obtain evidence that may be used against you at trial. Unfortunately, many people still think IRS Audits are strictly civil, and that if they cooperate, no criminal consequences will apply.
In reality, this misunderstanding has caused a great deal of heartache and has been the ruin of many a business. When contemplating criminal activity, an IRS Agent will typically ask “gateway questions” that are designed and intended to "lead you down the garden path". For example, you may be asked "do you lease your employees? Do you pay your employees in cash? Are your payroll returns accurate?" (and similar "pre-spanking" questions) 
If you’re being audited, it pays to be represented by a competent professional who knows the score. At Selig & Associates, every client is represented by a licensed Tax Practitioner and Attorney - call us today and get the facts (212) 974-3435

No comments:

Post a Comment

Selig & Associates is a boutique Tax Representation and Risk Management Firm specializing in unpaid tax obligations and commercial insurance coverage

  Tax Advocacy      Federal Tax Practitioner, CPCU and Attorney. Practicing before the Internal Revenue Service and New York State Departmen...