The Law Offices of Arnold van Dyk

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What Are Your Options After An Audit?

May 5, 2016

It was one of the worst experiences of your life. You were audited. You had to go into a Federal Building with all your books, records and receipts, and your livelihood, business and privacy was intruded upon. The IRS examiner may even have inspected your home if you have a home office. The examination was terrible, and now its done. Four weeks later, you receive a report in the mail saying you understated your tax liability by $24,000. The examiner does not believe that the office in your home is really used for business, or that your car and truck expenses were valid. What are… Read More

Presidential Candidates Tax Plans

April 26, 2016

Candidate tax plans don’t add up: Source: www.cnbc.com

Ex-US Tax Court Judge Indicted

April 26, 2016

Former U.S. Tax Court Judge Diane Kroupa and her husband were indicted on tax evasion charges. You can read all about it here: Source: www.salon.com

When Failure To File Your Tax Returns Go Really Bad: IRS Substitute For Returns

March 3, 2016

In the world of tax practice, variations of the following scenario are the most common reason why individuals or businesses end up owing the IRS more money than they can pay: John and Jane open a business. They spend all their hard work and effort establishing a business, building a client base, pumping money into the business and getting vendors. All their hard work pays off, and after 2 years their business is running well and at a profit. However, John and Jane realize that they were not filing tax returns during the past 2 years. Scared of the consequences of what… Read More

Options Available To Deal With IRS Debt

November 5, 2015

There are several options available to deal with your IRS Debt: 1. Submit an Offer in Compromise: If you qualify, you can settle with the IRS for less than you owe. When you submit an Offer in Compromise, the IRS will settle with you based on your reasonable collection potential. The IRS will take into account your monthly disposable income, as well as equity in assets to calculate your settlement amount. 2. Setup an installment agreement: If you owe the IRS less than $50,000, they will accept any installment agreement as long as it pays of your balance within 72… Read More

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