NYC Tax Advocates

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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.

Wednesday, January 31, 2018

Trump orders IRS to Seize Passports, Bank Accounts & Motor Vehicles

“THE STATE OF THE UNION”


"Trump Orders IRS to Crackdown on Deadbeats"

President Trump says he’ll spend Trillions of Dollars on Defense and other special interest programs. “His mouth wrote a check that his wallet can’t cash!” says an IRS insider. And now the Trump Administration has ordered us [the IRS] to aggressively collect all past-due tax debts. The IRS has been given the green light and New Yorkers’ Business-Owners, Women and Minorities will be hit the hardest. Passports will be revoked. Bank Accounts, Homes, Jewelry and Motor Vehicles will be Seized! “New Yorkers will experience a level of enforcement that hasn’t been seen in years!” says David Selig of Selig & Associates. 




Honest Tax Advocates To schedule a FREE legally privileged consultation with a licensed Federal Tax Practitioner and Attorney call Selig & Associates directly (212) 974-3435

Successful Tax Representation We practice before the Internal Revenue Service (“IRS”) the New York State Department of Taxation and Finance (“NYSDTF”) the Department of Justice Tax Division (“DOJ”) and the Defense Office of Hearings and Appeals (“DOHA”). *To schedule a legally privileged consultation call Selig & Associates directly (212) 974-3435 

Proven Results  We successfully resolve: Tax Crimes; Tax Evasion; Failure to File a Tax Return and Criminal Non-Filing; Filing False Tax Returns; Installment Agreements; Partial Payment Agreements; IRS Audits; Sales Tax Audits; Sales Tax Controversies; Wage Garnishments; Bank Levies; Seizure of Real Property; Innocent Spouse Relief; Trust Fund Recovery Penalty; Payroll Taxes; Workers Compensation Insurance Audits ("Workers Comp"); Statute of Limitations; Offer in Compromise ("OIC"); Administrative Appeals; Collection Due Process Hearings ("CDP") and most other tax matters. *To schedule a legally privileged consultation call Selig & Associates directly (212) 974-3435


Professional Service Guaranteed We meet with our clients personally. We return telephone calls promptly, answer emails and provide regular updates and status reports. *To schedule a legally privileged consultation call Selig & Associates directly (212) 974-3435

Trump orders IRS to Seize Passports, Bank Accounts & Motor Vehicles 

Friday, January 26, 2018

He should have hired SELIG & Associates



TORN FROM THE HEADLINES


Attorney Douglas M. Marinos, 56, has pleaded guilty to one count of willfully failing to collect, truthfully account for and pay over federal taxes owed by his law firm. Marinos pleaded guilty to failing to pay over to the IRS withholdings from the paychecks of his firm’s employees. He faces up to five years in prison, three years of supervised release, a $10,000 fine and a $100 assessment. As part of his plea agreement, Marinos is also required to pay some $285,000 in restitution to the IRS.

Honest Tax Advocates To schedule a FREE legally privileged consultation with a licensed Federal Tax Practitioner and Attorney call Selig & Associates directly (212) 974-3435

Successful Tax Representation We practice before the Internal Revenue Service (“IRS”) the New York State Department of Taxation and Finance (“NYSDTF”) the Department of Justice Tax Division (“DOJ”) and the Defense Office of Hearings and Appeals (“DOHA”). *To schedule a legally privileged consultation call Selig & Associates directly (212) 974-3435 

Proven Results  We successfully resolve: Tax Crimes; Tax Evasion; Failure to File a Tax Return and Criminal Non-Filing; Filing False Tax Returns; Installment Agreements; Partial Payment Agreements; IRS Audits; Sales Tax Audits; Sales Tax Controversies; Wage Garnishments; Bank Levies; Seizure of Real Property; Innocent Spouse Relief; Trust Fund Recovery Penalty; Payroll Taxes; Workers Compensation Insurance Audits ("Workers Comp"); Statute of Limitations; Offer in Compromise ("OIC"); Administrative Appeals; Collection Due Process Hearings ("CDP") and most other tax matters. *To schedule a legally privileged consultation call Selig & Associates directly (212) 974-3435

Professional Service Guaranteed We meet with our clients personally. We return telephone calls promptly, answer emails and provide regular updates and status reports. *To schedule a legally privileged consultation call Selig & Associates directly (212) 974-3435

We Settle Commercial & Residential Property Damage Claims for Top Dollar David Selig PA and Attorney Dorin successfully settle residential and commercial property insurance claims, including business interruption, burglary, fire, windstorm and losses caused by water damage. *For a free consultation call David Selig directly (212) 974-3435


Will a False Sexual Harassment Claim Destroy Your Business in 2018? We provide legal, insurance and other asset protection strategies for Business-Owners and Medical Service Providers. *To schedule a consultation or a comprehensive evaluation of your existing plan call Selig & Associates directly (212) 974-3435 

Monday, January 22, 2018

Slam Dunk the Funk – IRS seizes Passports – Martial Law to Follow




WASHINGTON — The Internal Revenue Service today strongly encouraged taxpayers who are seriously behind on their taxes to pay what they owe or enter into a payment agreement with the IRS to avoid putting their passports in jeopardy.
This month, the IRS will begin implementation of new procedures affecting individuals with “seriously delinquent tax debts.” These new procedures implement provisions of the Fixing America’s Surface Transportation (FAST) Act, signed into law in December 2015. The FAST Act requires the IRS to notify the State Department of taxpayers the IRS has certified as owing a seriously delinquent tax debt. See Notice 2018-1. The FAST Act also requires the State Department to deny their passport application or deny renewal of their passport. In some cases, the State Department may revoke their passport.
Taxpayers affected by this law are those with a seriously delinquent tax debt.  A taxpayer with a seriously delinquent tax debt is generally someone who owes the IRS more than $51,000 in back taxes, penalties and interest for which the IRS has filed a Notice of Federal Tax Lien and the period to challenge it has expired or the IRS has issued a levy.
There are several ways taxpayers can avoid having the IRS notify the State Department of their seriously delinquent tax debt. They include the following:
  • Paying the tax debt in full
  • Paying the tax debt timely under an approved installment agreement,
  • Paying the tax debt timely under an accepted offer in compromise,
  • Paying the tax debt timely under the terms of a settlement agreement with the Department of Justice,
  • Having requested or have a pending collection due process appeal with a levy, or
  • Having collection suspended because a taxpayer has made an innocent spouse election or requested innocent spouse relief.
A passport won’t be at risk under this program for any taxpayer: 
  • Who is in bankruptcy
  • Who is identified by the IRS as a victim of tax-related identity theft
  • Whose account the IRS has determined is currently not collectible due to hardship
  • Who is located within a federally declared disaster area
  • Who has a request pending with the IRS for an installment agreement
  • Who has a pending offer in compromise with the IRS
  • Who has an IRS accepted adjustment that will satisfy the debt in full
For taxpayers serving in a combat zone who owe a seriously delinquent tax debt, the IRS postpones notifying the State Department and the individual’s passport is not subject to denial during this time.
  • In general, taxpayers behind on their tax obligations should come forward and pay what they owe or enter into a payment plan with the IRS. Frequently, taxpayers qualify for one of several relief programs, including the following:
  • Taxpayers can request a payment agreement with the IRS by filing Form 9465. Taxpayers can download this form from IRS.gov and mail it along with a tax return, bill or notice. Some taxpayers can use the online payment agreement to set up a monthly payment agreement for up to 72 months.

Honest Tax Advocates To schedule a FREE legally privileged consultation with a licensed Federal Tax Practitioner and Attorney call Selig & Associates directly (212) 974-3435

Successful Tax Representation We practice before the Internal Revenue Service (“IRS”) the New York State Department of Taxation and Finance (“NYSDTF”) the Department of Justice Tax Division (“DOJ”) and the Defense Office of Hearings and Appeals (“DOHA”). *To schedule a legally privileged consultation call Selig & Associates directly (212) 974-3435 

Proven Results  We successfully resolve: Tax Crimes; Tax Evasion; Failure to File a Tax Return and Criminal Non-Filing; Filing False Tax Returns; Installment Agreements; Partial Payment Agreements; IRS Audits; Sales Tax Audits; Sales Tax Controversies; Wage Garnishments; Bank Levies; Seizure of Real Property; Innocent Spouse Relief; Trust Fund Recovery Penalty; Payroll Taxes; Workers Compensation Insurance Audits ("Workers Comp"); Statute of Limitations; Offer in Compromise ("OIC"); Administrative Appeals; Collection Due Process Hearings ("CDP") and most other tax matters. *To schedule a legally privileged consultation call Selig & Associates directly (212) 974-3435

Professional Service Guaranteed We meet with our clients personally. We return telephone calls promptly, answer emails and provide regular updates and status reports. *To schedule a legally privileged consultation call Selig & Associates directly (212) 974-3435

We Settle Commercial & Residential Property Damage Claims for Top Dollar David Selig PA and Attorney Dorin successfully settle residential and commercial property insurance claims, including business interruption, burglary, fire, windstorm and losses caused by water damage. *For a free consultation call David Selig directly (212) 974-3435

Will a False Sexual Harassment Claim Destroy Your Business in 2018? We provide legal, insurance and other asset protection strategies for Business-Owners and Medical Service Providers. *To schedule a consultation or a comprehensive evaluation of your existing plan call Selig & Associates directly (212) 974-3435 

Friday, January 19, 2018

TAX NEWS TORN FROM THE HEADLINES




Now that a little thing called economic reality has overtaken months of dishonest media reporting about the Republican tax bill signed into law by President Trump last month, a plurality of 47 percent support the bill, while only 34 percent remain opposed.


This is a huge (and predicable) turnaround when compared to those polls released  in the heart of the media campaign to kill the tax bill. In early December, Gallup showed just 29 percent support for the bill; as did Quinnipiac. Less than a month ago, the left-wing cable news network CNN released a poll that showed support for the bill cratering with opposition climbing from 45 percent to 55 percent. Only one-third of Americans were in favor of the tax cut.
Considering the media’s 24/7 opposition to the bill, these negative polls were not all that surprising. In a cynical and partisan effort to kill the GOP tax cut through the use of lies to gin up opposition, including the wildly false claim that only the rich and corporations would benefit, some outlets even went so far as to claim that taxes on working people and the middle class would increase. And polls showed that too many people actually believed that nonsense.

Thankfully, neither the GOP nor President Trump blinked. The important bill passed late last month (strictly along party lines) and the benefits to working Americans was immediate. So far, thanks to the lowering of their taxes, 164 corporations have announced substantial bonuses and pay raises. That means some two million workers are already enjoying the trickle-down effect of the most consequential tax reform in 30 years.

President Donald Trump’s “big, beautiful Christmas present” to the American people came Dec. 22, when he signed into law a tax plan that will benefit business owners big and small and give individual taxpayers a slight break in 2018.
The GOP didn’t fulfill their promise of simplifying the tax code—you’re not going to be able to file your taxes on a postcard any time soon, and experts say changes to business rates will likely lead more people to try to game the system. But they did change the number of tax brackets from seven to...seven and eliminate some popular deductions.

When It Takes Effect

The tax plan starts to take effect January 1, 2018, meaning it doesn’t affect the taxes you file in April 2018 (unless you make a few last-minute moves). Some aspects of it won’t be implemented until 2019 or beyond.
Tax brackets, for example, change on January 1, 2018, to the following:
Source: Heritage Foundation
The IRS announced that workers could begin seeing the difference in withholding in their paychecks as early as February. The new brackets expire after 2025. As Marc Goldwein, senior policy director for the bipartisan Committee for a Responsible Federal Budget, told Vox, “People get eight years of tax reform.”
The individual mandate for health insurance will be repealed starting in 2019, meaning if you don’t purchase health insurance next year you’re still liable for the penalty. The Congressional Budget Office estimates 4 million fewer people in 2019 and 13 million fewer in 2027 will have health insurance as a result.

The Tax Cuts You Can Expect on Average

Republicans are hailing the legislation as a major victory for the middle class. In the very near term, the middle class will benefit: All income groups will receive a cut, on average, in 2018, according to the nonpartisan Tax Policy Center, which estimates the average cut will be $1,600 in 2018.
How does this work? 
  • Standard deduction: For many people, the standard deduction will be essentially doubled, from $6,350 for individuals to $12,000, and from $12,700 for married couples filing jointly to $24,000. You won’t see this change until you file your taxes in April 2019.
  • Child tax credit: Another benefit to many middle class workers is the doubling of the child tax credit to $2,000 for dependents under 17, $1,400 of which is refundable (meaning if the credit is larger than your federal income tax liability, you can receive a refund of up to $1,400). More high-income earners will also qualify for this credit now. This expires in 2025. (You can also reduce your tax bill by up to $500 for other dependents, like children over 17 and elderly relatives.)
  • Personal exemptions: Personal exemptions, which reduce your taxable income, are eliminated. Currently, you’re allowed to claim a $4,050 personal exemption for yourself, your spouse, and your dependents (up to a certain amount). The doubling of the standard deduction could go a long way to make up for this, but the elimination could negate the benefits for families with three or more kids.
But the bill is much more of a win for the wealthiest Americans and business owners. One of the main criticisms of the plan is that the tax cuts are not allocated equally across the income spectrum. Taxpayers earning between $308,000 and $733,000 would receive the largest tax cut. According to TCP, middle-income taxpayers (those making between about $49,000 and $86,000) would pay about $900 less (or about 1.6% of after-tax income) in 2018, while those earning $733,000 and up would get an average tax cut of roughly $50,000 (or 3.4% of their after-tax income). If you earn $65,000, you’ll save about $930 in 2018, per TCP. If you make $500,000, you’ll save around $13,480.


Thursday, January 11, 2018

Q-ANON / SELIG & Associates “IRS Withholding Tables Frequently Asked Questions” TAX Representation





Q: Why are these changes being made?
A: The new withholding tables are needed to reflect the changes in tax rates and tax brackets, increased standard deduction and repeal of personal exemptions that were included in the new tax reform law signed in December. The withholding guidance issued today is for employers to make changes to their payroll systems and is designed to work with existing W-4s that employees have on file.
Q: How soon will people see the changes in their paychecks?
A: Employees should begin to see withholding changes in their checks in February. The exact timing depends on when their employer can make the change and how often they are paid. It typically takes payroll providers and employers about a month to update withholding changes on their systems.
Q: Will employees need to take any action to get the new withholding rates?
A: No. Payroll changes required each year are made by employers and their payroll providers, so employees are not required to take any extra steps. However, employees should review their withholding to make sure that it is accurate. IRS will be releasing a new calculator and Form W-4 soon, to help employees ensure withholding is accurate.
Q: What is a withholding table?
A: A withholding table shows payroll service providers and employers how much tax to withhold from employee paychecks, given each employee’s wages, marital status, and the number of withholding allowances they claim.
Q: What is a Form W-4?
A: This is an IRS form that employees provide to their employers, to determine the amount of federal income tax to withhold from the employees’ paychecks. The form helps employees adjust withholding based on their personal circumstances, such as whether they have children or a spouse who is also working. The IRS always recommends employees check their withholding any time their personal or financial information changes.
Q: Will people need to fill out a new W-4 form right now?
A: No, the new withholding tables are designed to minimize taxpayer burden as much as possible and will work with the Forms W-4 that workers have already filed with their employers to claim withholding allowances. The IRS is working on revising the Form W-4 to more fully reflect the new law and provide taxpayers information to determine whether they need to adjust their withholding.
Q: Is the IRS working on a new Form W-4 to reflect the new tax law?
A: Yes. The IRS continues to work on more detailed withholding information, which will be available soon in Publication 15 and related publications. In addition, the IRS is working on revising the Form W-4 to more fully reflect the new law and providing taxpayers information to determine whether they need to adjust their withholding. The IRS is also revising the withholding tax calculator on IRS.gov to help employees who wish to update their withholding in response to the new law or other changes in their personal circumstances in 2018. The IRS anticipates this calculator should be available by the end of February.
Q: Should people check their withholding after the new 2018 Form W-4 and the withholding calculator are available?
A: Yes. It’s always a good idea for people to check their withholding status. The IRS encourages all taxpayers to check their withholding when the new information is available in February. The IRS will help educate taxpayers about the new withholding guidelines and the calculator. The effort will be designed to help workers ensure that they are not having too much or too little tax taken out of their pay.
Q: Are some taxpayers at risk of being under-withheld on their taxes with the changes to the withholding tables?
A: Some people have more complicated tax situations and face the possibility of being under-withheld. For example, people who itemize their deductions, couples with multiple jobs or individuals with more than one job a year will be encouraged to review their tax situations. The IRS will be encouraging people – particularly those with more than one income in their household—to check their withholding. The IRS is updating the 2018 Form W-4 and the IRS.gov withholding calculator to help with this process.
Q: Are many people under-withheld on their taxes?
A: Most people are over-withheld on their taxes, meaning that more taxes are held out of their paychecks than what they owe.
Q: Will the IRS be making further changes to Form W-4 in 2019?
A: In 2019, the IRS anticipates making further changes involving withholding. The IRS will work with the business and payroll community to encourage workers to file new Forms W-4 next year and share information on changes in the new tax law that impact withholding.

Honest Tax Advocates To schedule a FREE legally privileged consultation with a licensed Federal Tax Practitioner and Attorney call Selig & Associates directly (212) 974-3435

Successful Tax Representation We practice before the Internal Revenue Service (“IRS”) the New York State Department of Taxation and Finance (“NYSDTF”) the Department of Justice Tax Division (“DOJ”) and the Defense Office of Hearings and Appeals (“DOHA”). *To schedule a legally privileged consultation call Selig & Associates directly (212) 974-3435 

Proven Results  We successfully resolve: Tax Crimes; Tax Evasion; Failure to File a Tax Return and Criminal Non-Filing; Filing False Tax Returns; Installment Agreements; Partial Payment Agreements; IRS Audits; Sales Tax Audits; Sales Tax Controversies; Wage Garnishments; Bank Levies; Seizure of Real Property; Innocent Spouse Relief; Trust Fund Recovery Penalty; Payroll Taxes; Workers Compensation Insurance Audits ("Workers Comp"); Statute of Limitations; Offer in Compromise ("OIC"); Administrative Appeals; Collection Due Process Hearings ("CDP") and most other tax matters. *To schedule a legally privileged consultation call Selig & Associates directly (212) 974-3435

Professional Service Guaranteed We meet with our clients personally. We return telephone calls promptly, answer emails and provide regular updates and status reports. *To schedule a legally privileged consultation call Selig & Associates directly (212) 974-3435

We Settle Commercial & Residential Property Damage Claims for Top Dollar David Selig PA and Attorney Dorin successfully settle residential and commercial property insurance claims, including business interruption, burglary, fire, windstorm and losses caused by water damage. *For a free consultation call David Selig directly (212) 974-3435


Will a False Sexual Harassment Claim Destroy Your Business in 2018? We provide legal, insurance and other asset protection strategies for Business-Owners and Medical Service Providers. *To schedule a consultation or a comprehensive evaluation of your existing plan call Selig & Associates directly (212) 974-3435 




We Solve Tax Problems So You Can Get On With Your Life

Working with Energy and Determination (212) 974-3435 Free Consultation   Federal Tax Practitioner and Attorney. We...