Brooklyn Tax Preparer Pleads Guilty to Criminal Tax Fraud For Stealing Sales Tax Payments From Clients

 

The New York State Department of Taxation and Finance, along with the Brooklyn District Attorney’s Office, announced that Yehad Abdelaziz and his corporation The Five Pillars Financial Services, LTD, pleaded guilty to criminal tax fraud. A Tax Department investigation determined that between March 2015 and August 2017 Abdelaziz received money from business owners and filed sales tax returns on their behalf. However, he underreported sales or reported zero gross sales and instead pocketed the sales tax payments his clients entrusted him to remit on their behalf. “We will continue to aggressively pursue unscrupulous tax preparers who betray the trust of clients and deprive communities and the state of revenue needed for vital services,” said New York State Commissioner of Taxation and Finance Michael Schmidt. Brooklyn District Attorney Eric Gonzalez said, “Tax preparers who cheat don’t only shortchange their clients, but effectively steal from all of us. They must be held accountable and pay restitution to victims. My Office will continue to work with our partners to prosecute tax fraud and other forms of larceny schemes.” Abdelaziz and The Five Pillars Financial Services, LTD, paid more than $191,000 in restitution. The payment includes the forfeiture of more than $6,700 that was seized as part of a search warrant executed by the Tax Department. Both Abdelaziz and his corporation are also prohibited from providing tax preparation services of any kind for one year.

Specializing in COVID-19 Related Tax Problems Free consultation (in person or telephonic) with Federal Tax Practitioner, CPCU and Attorney. Our offices are conveniently located in New York City and emergency appointments are always available. Practice limited to Tax Representation and Insurance Audits.

 

 

Effective Tax  Advocates We successfully solve COVID-19 and Coronavirus related tax problems, including unpaid income, sales and payroll taxes. Negotiating affordable payment plans and tax settlements since 2006. Practicing before Internal Revenue Service (IRS) and the New York State Department of Taxation and Finance. Call us today at  (212) 974-3435 or contact us Online. 

 

Difficult Insurance Audits Effectively challenging Workers' Compensation & NYSIF premium increases, payroll discrepancies, employee misclassification, experience and other rating issues. Additionally if your Business pays over $75,000 for W/C Insurance, you may be entitled to a large refund of premium. For more information, call us directly or contact us Online. 

New York City Restaurateur Sentenced to Jail For Tax Evasion Scheme

 Torn from the Pages of the Department of Justice

A New York City restaurateur was sentenced to prison for a tax evasion scheme. Adel Kellel, 63, of New Hyde Park, New York, the owner of Raffles Bistro, formerly a restaurant located in New York City, was sentenced to 24 months in prison for tax evasion by U.S. District Court Judge Paul G. Gardephe. “All taxpayers have an obligation to honestly report their income and pay their share of taxes,” said Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division. “For those who attempt to avoid these obligations and cheat the IRS, as this sentence shows, there are serious consequences.” “Adel Kellel cooked his books to conceal income from the IRS and his own accountants,” said Acting U.S. Attorney Audrey Strauss for the Southern District of New York. “He spent the ill-gotten gains on personal luxuries like a Mercedes, a Porsche, and a Maserati. Now he will spend two years in federal prison.” “The accurate reporting of income is an important responsibility of all business professionals,” said IRS-Criminal Investigation Special Agent in Charge Jonathan D. Larsen. “In this case, Adel Kellel attempted to evade his taxes by diverting funds for personal use and failing to report substantial gross receipts. IRS-Criminal Investigation will continue to serve the American taxpayer by investigating individuals who hide their true income from the IRS.” According to the allegations contained in the information to which Kellel pled guilty, documents filed in court, and statements made in court: In 2011, Kellel was the President and a 45 percent owner of K&H Restaurant Inc. (K&H), which operated Raffles Bistro (Raffles), a coffee-shop and full service restaurant then located in a Manhattan hotel (the Hotel). From 2012 through 2015, Kellel was the 100 percent owner of K&H. From 2011 to 2015, Kellel filed false personal returns and corporate returns for K&H, and evaded his taxes by diverting and failing to report substantial gross receipts to the IRS For example, as part of his tax evasion scheme, Kellel diverted over 150 hotel checks, totaling over $2.1 million or approximately 43 percent of the Hotel payments K&H received by check, and then hid the gross receipts from his accountants and the IRS by depositing the checks into more than a dozen undisclosed bank accounts. These included personal accounts that Kellel held either individually or jointly with his wife, as well as accounts held in the name of K&H, some of which were opened solely to have an additional place to deposit diverted checks. Kellel also diverted substantial cash income received from Raffles’ customers, a portion of which he deposited into personal bank accounts or spent directly on personal expenses, again, without disclosing to his accountants or paying taxes. Kellel used the diverted income for personal expenses, including overseas transfers; condominium fees; rent for a high-end Manhattan apartment; college tuition payments for his children; luxury retailers, such as Hugo Boss and Saks Fifth Avenue; Mercedes, Porsche, and Maserati vehicles; and domestic and international travel. On Jan. 24, 2020, Kellel pled guilty to one count of tax evasion relating to the 2011 to 2015 tax years. In total, Kellel caused a combined tax loss of at least approximately $771,195 to the IRS and the New York State Department of Taxation and Finance (NYSDTF). In addition to the sentence of imprisonment, the court ordered Kellel to pay restitution of $613,478 to the IRS and $157,717 to NYSDTF. Kellel was also ordered to serve three years of supervised release after completing his jail sentence. Principal Deputy Assistant Attorney General Zuckerman and U.S. Attorney Strauss praised the efforts of IRS-CI in the investigation. Trial Attorney Jorge Almonte of the Tax Division and Assistant U.S. Attorney Olga I. Zverovich are in charge of the prosecution.

Don’t Let This Happen To You

Selig & Associates Free consultation (in person or telephonic) with Federal Tax Practitioner, CPCU and Attorney. Our offices are conveniently located in New York City and emergency appointments are always available. Practice limited to Tax Representation and Insurance Premium Audits.

Effective Tax Advocacy Negotiating affordable repayment plans and realistic tax settlements since 2006. Practicing before Internal Revenue Service and the New York State Department of Taxation and Finance. We effectively resolve unpaid income, sales and payroll tax problems. Call us today at (212) 974-3435 or contact us Online.

 

Insurance Audits and Premium Increases  We successfully challenge Workers' Compensation premium increases, payroll discrepancies, employee misclassification, experience and other rating issues. Additionally if your Business pays over $50,000 for W/C Insurance, you may be entitled to a large premium refund. For more information, call us directly or contact us Online. 

 

(212) 974-3435

Medical Doctor Sent to Slammer [because] He Failed to Pay Employment Taxes

 

 

A dejected Medical Doctor was just sentenced in the United States District Court to serve six months in prison after pleading guilty to Failure to Pay Employment Taxes. The despondent Doctor was also ordered to serve three years of supervised release, pay a $10,000 fine, and a $100 special assessment to the Crime Victims' Fund. And if that wasn’t enough, he was also ordered to pay $721,394.34 in restitution (which he has already paid in full).

If you’ve fallen behind with your payroll withholding responsibilities, you’re in trouble. To schedule a FREE legally privileged consultation, call (212) 974-3435 today. 

Effective Tax Advocacy Negotiating affordable repayment plans and realistic tax settlements since 2006. Practicing before Internal Revenue Service and the New York State Department of Taxation and Finance. We effectively resolve unpaid income, sales and payroll tax problems. Don't Delay, Call Today. 

Despondent Chiropractor and his Disgruntled Wife Plead Guilty to Tax Evasion (they should have hired SELIG)

 

On 20 November 2020 a despondent chiropractor and his disgruntled wife pleaded guilty to tax evasion, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Department of Justice’s Tax Division and U.S. Attorney Kurt G. Alme. According to court documents and statements made in court, the chiropractor understated his taxable income by $284,691 for tax years 2013, 2014, 2015, 2017, and 2018. In total, the defendants caused a tax loss to the IRS of $74,486.

New York City Tax Advocate  Specializing in unpaid Income, Sales and Payroll Taxes. We represent Individuals and Businesses before the Internal Revenue Service (IRS) and New York State Department of Taxation and Finance. Federal Tax Practitioner, CPCU and Attorney. *Negotiating excellent Tax Settlements and reasonable Payment Plans since 2006. 

Selig & Associates  Free consultation (either in person or telephonic). Our offices are conveniently located in New York City and emergency appointments are always available.

 

 

Did Your Business Overpay for Workers’ Compensation Insurance?  If your Business paid $50,000 + for Workers’ Compensation insurance in 2017, 2018, 2019 or 2020, you may be entitled to a large cash refund. Premium refunds are usually received in as little as 90 days. *If we don’t win, you don’t pay. 

 

Insurance Audits and Premium Disputes  Workers' Comp and NYSIF audit representation. We aggressively challenge premium increases, payroll discrepancies, employee misclassification, experience and other rating issues. *Premium disputes are usually settled within 60 days of our being retained. 

 

Operators of Charity Scam Sentenced to Prison for Mail Fraud Conspiracy and Tax Evasion – But Don’t Let That Stop You from Getting the 501(c)(3) Designation Your Non-Profit Desperately Needs

A crafty couple that operated a charity that purported to provide goods to the needy was sentenced to prison for conspiracy to commit mail fraud and tax evasion. The bewildered lovebirds were sentenced to 15 months in the Slammer, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division and U.S. Attorney Robert S. Brewer, Jr. for the Southern District.According to court documents and statements made in court, they operated a tax-exempt charitable organization whose stated mission was to provide assistance to low income families and individuals in need. From 2011 through 2016, they fraudulently obtained more than $1.35 million in donated clothing and other items by falsely representing to the donors that the items would be given to needy recipients. In fact, they only gave about $13,000 in charitable donations, and then sold the remaining donated items, and used the proceeds to support themselves and their family members. 

Selig & Associates specializes in Tax Representation and Workers Compensation Insurance Audits. Our office is conveniently located in New York City and same day and emergency appointments are available Monday through Friday. Call Selig today for a free no obligation consultation. 

 

IRS & NYS Tax Representation We represent individuals and businesses before the Internal Revenue Service and New York State Department of Taxation and Finance. We negotiate excellent tax settlements and repayment agreements and specialize in unpaid Income, Sales and Payroll taxes. 

 

Workers’ Compensation & NYSIF Audits We help businesses with difficult insurance audits and successfully challenge large premium increases, payroll discrepancies, employee misclassification, experience and other rating issues. *Most premium disputes are settled within 60 days of our being retained.

 

Did Your Business Overpay for Workers’ Compensation Insurance? If your Business paid $100,000 + for Workers’ Compensation insurance (during 2017, 2018, 2019 or 2020) you may be entitled to a Large Cash Refund. *Premium refunds are usually received in as little as 90 days. Call Selig for a free no obligation consultation. If we don’t win, you don’t pay. 

 

Salesman Sentenced to Slammer for Tax Evasion

 

On October 27^th 2020 a silver-tonged salesman was sentenced to 24 months in the federal slammer for tax evasion, announced the Principal Deputy Assistant Attorney General of the Justice Department’s Tax Division and the U.S. Attorney. According to court documents and statements made in court, the fast-talking salesman was an “automobile industry consultant” which is a highfaluting way of saying he sold automobile warranties (which isn’t a crime). The nitty-gritty down and dirty happened when he stopped filing tax returns and started attending “Tax Defier” meetings. Apparently, he was so excited about what he heard, that he purchased “Tax Defier” materials, and taking it to heart, began using Nevada nominee corporations to receive his income [and] more importantly, to use those shady Nevada corporations to conceal his income from the IRS. 

Tax Representation 

 

Specializing in unpaid sales and payroll withholding taxes. We represent individuals, businesses and entrepreneurs before the Internal Revenue Service and New York State Department of Taxation and Finance. Negotiating reasonable tax settlements and payment plans since 2006. Consultations are available in person or by telephone and emergency appointments are available upon request. To speak with a Federal Tax Practitioner, CPCU and Attorney call (212) 974-3435 or contact us Online. 

Insurance Audits

 

We successfully challenge large dollar premium assessments, payroll discrepancies, employee misclassification, experience and other rating issues. Specializing in Workers' Compensation and NYSIF audit representation. Most premium disputes are settled within 60 days of our being retained. Assistance with insurance coverage, loss reduction and risk management services. Consultations are available in person or by telephone and emergency appointments are always available. 

 

Workers Comp Audits, Tax Evasion [and] You

 

During a Workers Compensation Audit your company's payroll be reviewed, scrutinized and ostensibly verified. Auditors look at company payroll because  your  Workers Comp premium is based [in part] on the amount of compensation paid to your employees. 

Employment Tax Evasion Schemes

 

Employment tax evasion schemes can take a variety of forms. Some of the more prevalent methods of evasion include pyramiding, employee leasing, paying employees in cash, filing false payroll tax returns or failing to file payroll tax returns.

 

Pyramiding

 

"Pyramiding" of employment taxes is a fraudulent practice where a business withholds taxes from its employees but intentionally fails to remit them to the IRS. Businesses involved in pyramiding frequently file for bankruptcy to discharge the liabilities accrued and then start a new business under a different name and begin a new scheme.

 

Employment Leasing

 

Employee leasing is another legal business practice, which is sometimes subject to abuse. Employee leasing is the practice of contracting with outside businesses to handle all administrative, personnel, and payroll concerns for employees. In some instances, employee-leasing companies fail to pay over to the IRS any portion of the collected employment taxes. These taxes are often spent by the owners on business or personal expenses. Often the company dissolves, leaving millions in employment taxes unpaid.

 

Paying Employees in Cash

 

Paying employees, whole or partially, in cash is a common method of evading income and employment taxes resulting in lost tax revenue to the government and the loss or reduction of future social security or Medicare benefits for the employee.

 

Filing False Payroll Tax Returns or Failing to File Payroll Tax Returns

 

Preparing false payroll tax returns understating the amount of wages on which taxes are owed, or failing to file employment tax returns are methods commonly used to evade employment taxes.

 

 

Tax Representation

 

Specializing in unpaid sales and payroll withholding tax problems. We represent individuals, businesses and entrepreneurs before the Internal Revenue Service and New York State Department of Taxation and Finance. Negotiating reasonable tax settlements and payment plans since 2006. Consultations are available in person or by telephone and emergency appointments are available upon request. To speak with a Federal Tax Practitioner CPCU and Attorney call (212) 974-3435 or contact us Online. 

 

Insurance Audits

 

Workers Compensation, NYSIF and General Liability Audit Representation. We successfully challenge large dollar premium assessments, employee misclassification, experience and other rating issues. Most premium disputes are settled within 60 days of our being retained. Assistance with insurance coverage, loss reduction and risk management services. Consultations are available in person or by telephone and emergency appointments are always available. 

Coronavirus Cancels Christmas 1000 + NYC Restaurants Permanently Closed. Sales and Use Taxes

 

More than 1000 New York City restaurants have permanently closed during the State’s mandatory lockdown. But even in the best of times, running a successful restaurant in New York City is extremely difficult. 

 

Why? 

 

1.   Rent in New York City is prohibitively high.

2.   Real Estate Agents are notorious liars. 

3.   Most restaurateurs and investors are unreasonably optimistic. 

 

What Else?

 

In addition to rent, payroll and supplies, there’s also Workers Comp and Liability insurance (and don’t forget about those expensive annual insurance audits). There’s Federal, State and local taxes that have to be paid, not to mention Sales and Use taxes. There are licenses and permits and countless forms to be filed. And don’t forget that ever-expanding pandect of perplexing rules that must be complied with. And after you’re done paying your Employees [more than they’re probably worth] there’s an army of Accountants, Lawyers and a tumultuous torrent of fees and fines and shakedowns for you to contend with.  

 

Now that it’s Over I’m finally Free

 

You’re not free and it’s far from over. Now that your business is permanently closed, the good folks at the New York State Department of Taxation and Finance want you to know that they don’t give a tinker’s damn about your financial problems. Moreover, your unpaid Sales, Use and Payroll withholding taxes aren’t dischargeable in bankruptcy and since they “pierce the corporate veil” (which is a fancy way of saying you’re personally responsible) you can expect to be hearing from the Tax Department sooner than you’d like. 

 

What Should I Do?

 

Call Selig & Associates. We specialize in unpaid sales and payroll withholding tax problems. We represent individuals, businesses and entrepreneurs before the Internal Revenue Service and New York State Department of Taxation and Finance. Negotiating reasonable tax settlements and payment plans since 2006. Consultations are available in person or by telephone and emergency appointments are available upon request. To speak with a Federal Tax Practitioner CPCU and Attorney call (212) 974-3435 or contact us Online. 

The Sovereign Citizen Movement (is coming back like a bad penny)

Individuals and groups who identify with the Sovereign Citizen Movement claim that the Federal Government is operating outside its jurisdiction. They generally do not recognize the authority of Federal, State or local governments, and renounce their obligation to adhere to the laws, policies or regulations created by those governments. Since the 1990s, the IRS and Treasury Inspector General have been investigating illegal activities that pose direct threats to the IRS and its operations by individuals who identify themselves as Sovereign Citizens. Sovereign citizens often utilize fictitious financial instruments in attempts to satisfy legitimate debts. Sovereign citizens will often file liens against the real or personal property of Federal employees - tax officials or law enforcement officers, for example - in retaliation for those individuals’ performance of their official duties. Liens have also been filed against federal judges when those judges. 

 

Tax Representation

 

We represent individuals, businesses and entrepreneurs before the Internal Revenue Service and New York State Department of Taxation and Finance. Negotiating reasonable tax settlements and payment plans since 2006. Consultations are available in person or by telephone and emergency appointments are available upon request. To speak with a Federal Tax Practitioner CPCU and Attorney call (212) 974-3435 or contact us Online. 

Insurance Audits

 

Workers Compensation, NYSIF and General Liability Audit Representation. We successfully challenge large dollar premium assessments, employee misclassification, experience and other rating issues. Most premium disputes are settled within 60 days of our being retained. Assistance with insurance coverage, loss reduction and risk management services. Consultations are available in person or by telephone and emergency appointments are always available. 

New Yorker Pleads Guilty to Conspiring to File False Returns (He should have hired SELIG & Associates)

 

Another New Yorker pled guilty on [20 October 2020] to conspiracy to defraud the United States, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division. According to the indictment, the New Yorker filed false tax returns with the assistance of a return preparer. From 2011 through 2019, the New Yorker and others prepared and filed false returns through two tax preparation firms that reported significant tax withholdings based on fictitious Forms 1099-OID, in an effort to fraudulently obtain refunds from the IRS. The Forms 1099-OID falsely reported that financial institutions, creditors, and other entities had withheld federal income tax, when in reality no such taxes had been withheld. The New Yorker also filed false returns for himself and others, claiming more than $2,125,872 in refunds from the IRS. U.S. District Judge Eric R. Komitee scheduled sentencing for Feb. 24, 2021. The New Yorker faces up to five years in prison, as well as monetary penalties. As part of his plea agreement, the New Yorker has agreed to pay restitution to the IRS.

 

Tax Representation

 

We represent individuals, businesses and entrepreneurs before the Internal Revenue Service and New York State Department of Taxation and Finance. Negotiating reasonable tax settlements and payment plans since 2006. Consultations are available in person or by telephone and emergency appointments are available upon request. To speak with a Federal Tax Practitioner CPCU and Attorney call (212) 974-3435 or contact us Online. 

 

Insurance Audits

 

Workers Compensation, NYSIF and General Liability Audit Representation. We successfully challenge large dollar premium assessments, employee misclassification, experience and other rating issues. Most premium disputes are settled within 60 days of our being retained. Assistance with insurance coverage, loss reduction and risk management services. Consultations are available in person or by telephone and emergency appointments are always available. 

Married Couple Sentenced to 33 Months Prison for Falsifying Tax Returns

A business owner and his wife have been sentenced for federal tax violations in the Eastern District, announced the U.S. Attorney.  In February 2020, Dick Brocato, Jr., 68, and his wife, Judith L. Brocato, 65, were convicted by a jury of conspiracy to defraud the United States for purposes of impeding the government functions of the Internal Revenue Service (IRS) in the collection of income tax and six counts of making and submitting false tax returns on both their personal and business for 2012-2014.  The Brocatos were each sentenced to 33 months in federal prison by U.S. District Judge Marcia Crone.  They were also ordered to pay restitution in the amount of $617,762 to the IRS and fines of $15,000 each.

According to information presented in court, the Brocatos owned a lawn service company, which was operated as an S Corporation for tax purposes.  The Brocatos were the sole shareholders of the company, and Judith Brocato served as corporate president, maintaining the books and records of the corporation, and signing the corporate tax returns in that capacity.  The Brocatos conspired to defraud the United States for the purpose of impeding, impairing, and obstructing, the lawful government functions of the Internal Revenue Service (IRS) in the ascertainment, computation, assessment, and collection of federal income and other taxes for years 2012, 2013, and 2014. 

As part of that conspiracy, they filed false corporate and personal income tax returns for years 2012, 2013, and 2014.  To facilitate the scheme, the Brocatos cashed numerous checks from customers instead of depositing them into the company accounts.  They then underreported the income by failing to report the cash income amount on the various tax returns. According to the indictment, the underreported income amounted to $503,281 in 2012, $687,534 in 2013, and $513,498 in 2014. A federal grand jury returned an indictment on Sep. 4, 2019 charging Dick and Judith Brocato with tax violations.

Civil & Criminal Tax Representation

 

Selig & Associates represents individuals, businesses and entrepreneurs before the Internal Revenue Service and New York State Department of Taxation and Finance. Specializing in difficult income, sales and payroll tax issues including: unpaid taxes, failure to file tax returns and other tax crimes. We negotiate reasonable tax settlements, offers in compromise, penalty abatements and installment agreements. We offer prospective clients a free legally privileged consultation, and emergency appointments are always available. Discuss your case with a Federal Tax Practitioner, CPCU and Attorney today (212) 974-3435 or contact us Online.

Construction Companies - We Specialize in Hard to Place Insurance Protection

Liability Insurance If your Business is having difficulty obtaining mandatory Insurance Coverage, please contact David Selig, CPCU of Selig & Associates directly. We currently have markets for Workers Compensation, General Liability, Excess Liability, Commercial Auto, Trucking, Hazardous Materials, Waste Transporters, Pollution, Bonds and other risks. Free consultation. 

(212) 974-3435

Insurance Audit Representation Selig & Associates provides Business Owners with aggressive representation at Workers Compensation, Liability and NYSIF Audits. Specializing in Premium Disputes, Employee Misclassification, Unreported Income, Experience, Rating and other violations. Free consultation. 

Hard to Place Insurance Protection 

Call us directly if your Business is having difficulty obtaining mandatory insurance coverage. We currently have insurance markets for Workers Compensation, General Liability, Excess Liability, Commercial Auto, Trucking, Hazardous Materials, Waste Transporters, Pollution, Bonds and many other risks.

Insurance Audit Representation 

Call us directly if your Business is being audited. We provide effective representation at Workers Compensation, General Liability and NYSIF Audits. Specializing in Premium Disputes, Employee Misclassification, Unreported Income, Experience, Rating and other violations. Free consultation. 

Insurance Claims 

We successfully resolve insured property damage claims in the shortest amount of time and at the least cost to the policyholder and insurance company. We provide policyholders with a cost effective alternative to litigation. Claims representation includes: Environmental Damage, Mold (removal & remediation) Fire, Business Interruption, Burglary, Vandalism, Windstorm and Water Damage. To schedule a free legally privileged consultation with a Federal Tax Practitioner CPCU and Attorney call (212) 974-3435 or contact us online. 

Selig & Associates Can Get Your Business The Money It Needs

Selig & Associates Gets You The Money You Need

If your Business requires Financial Assistance, and you are interested in protecting your assets from the IRS and other creditors call (212) 974-3435 or contact Attorney Bradley Dorin directly at Bdorin@truetaxhelp. 

Discuss your Tax, Financial & Insurance Problems with an Attorney, Federal Tax Practitioner & CPCU 

Free Legally Privileged Consultations Available Monday through Friday

The Economic Injury Disaster Loan can provide you with up to 2 Million Dollars of financial assistance, and is available to small businesses, independent contractors, sole proprietors, nonprofits, and other businesses with less than 500 employees. This loan can be used for working capital, refinancing debt, payroll, rent, overhead, etc.  There are no upfront loan fees or prepayment penalties. Applicants must demonstrate need and collateral. For immediate assistance call (212) 974-3435.

The Paycheck Protection Program (PPP) allows eligible borrowers to obtain a loan to cover payroll, rent, mortgage interest, and utilities paid during the covered period, viz. February 15, 2020 - June 30, 2020.  In some cases, the Federal Government will pay up to 100% of the loan if the borrower uses the loan proceeds as directed. *Other financial programs are also available. For more information call (212) 974-3435 directly.  

Question 

How much is this going to cost and how does Selig & Associates get paid?

Answer

Our fee is only 1% of the loan (or less) and the lender pays us directly. 

Question 

Is Loan Forgiveness taxable? 

Answer 

No. Forgiven loans under the Paycheck Protection Program are excluded from gross income and are not taxable.

Additional information can be found at SBA Disaster Loan Assistance, or by calling the SBA Disaster Assistance Customer Service Center at: (800) 659-2955 or via email at: emaildisastercustomerservice@sba.gov. 

Selig & Associates We specialize in unpaid Income, Sales and Payroll taxes. We negotiate excellent Payment Plans, Wage Garnishment and Bank Levy release, Offers in Compromise, and most other tax matters. Missing  Tax Returns prepared and filed. For immediate assistance call (212) 974-3435.