SFS Tax Resolution Times

"Read About Taxpayers with IRS Problems 
& Find Out How to Solve Them" 
September 2017
Tax Controversy Specialist 
Lecturer, Educator
   Inside this edition:

  • Owner of Pegasus Home Corporation Gets His Wings Clipped by the IRS
  • Health Care Company Owner Convicted for Tax Evasion
  • Funny Tax Quotes
  • Teller at Check-Cashing Business Gets Bounced by the IRS
  • Your IRS Questions Answered Here...
  • For the Foodies ...
  • A bit of tax humor
Owner of Pegasus Home Corporation Gets His Wings Clipped by the IRS
David J. Simard, of Maryland, pled guilty in the U.S. District Court of one count of obstructing the lawful functions of the Internal Revenue Service and four counts of failing to file personal and corporate income tax returns.

Simard, a real estate flipper, received a notice from the IRS that he needed to supply documents in connection with an audit of his personal tax returns. In less than one month after receiving this notice, Simard formed the Pegasus Home Corporation and starting buying and selling houses in the name of the corporation instead of his own. Simard claimed that the ownership and control of Pegasus was his relative and had this relative apply for an employer identification number for Pegasus. Simard also had this relative open a bank account in the name of the Pegasus Corporation. Despite earning income, Simard did not file personal or corporate tax returns for 2009 and 2010.

Simard will be sentenced on October 12th and faces a maximum of three years in prison for obstructing the IRS and one year in prison for each count of failure to file tax return, as well as restitution and monetary penalties.
Health Care Company Owner Convicted for Tax Evasion
Las Vegas resident Maria Larkin, was convicted of tax evasion after a jury found her guilty of refusing to pay employment taxes to the IRS for money she withheld from her employees.

Larkin operated the Five Star Home Health Care, Inc. from 1996 until 2009. From 2004 to 2009, evidence showed that not only did she fail to pay the employment taxes, she also tried to conceal her income and assets by lying about her ability to pay. She changed the name of her business and instructed her employees to cash checks for her. She also bought a home in the name of a nominee. 

Larkin faces up to 5 years in prison at her sentencing later this yea r.
Thank You for the Kind Words...
Funny Tax Quotes
“Income tax has made more liars out of the American people than golf . ”
-Will Rogers

“The hardest thing in the world to understand is the income tax . ”
-Albert Einstein

“Today it takes more brains and effort to make out the income tax form that it does to make the income.”
-Alfred E. Neuman

“Did you ever notice that when you put the words, “The” and “IRS” together, it spells “THEIRS ? ”
-Anonymous

“People who complain about taxes can be divided into two classes: men and women.”
-Unknown

“ Few of us ever test our powers of deduction, except when filling out an income tax return.”
-Laurence J. Peter, author

“Some taxpayers close their eyes, some stop their ears, some shut their mouths, but all pay through the nose.”
- Evan Esar
Your IRS Question Answered Here...
Question : I received a Notice of Federal Tax Lien via certified mail for unpaid back taxes and I’m scared and don’t know what to do. Can you help? 

Answer: Yes, I can help you. Let me explain... A Notice of Federal Tax Lien (NFTL) is public record and is generally filed with the County Recorder where you reside. A federal tax lien will also negatively impact your credit report scores. It is notice to all your other creditors that the IRS has a secured interest in all your real and personal property you have now and acquired in the future.
 
A federal tax lien will make it very difficult, if not impossible, for you to purchase a home, vehicle and other property on credit. It may also prevent you from accessing the equity in real property you may have built up over the years.  

However, the IRS has several different solutions that can resolve your NFTL if you qualify. You can resolve a federal tax lien by paying it in full or if that is not an option you can find out if you qualify for a “Release of Lien”, a “Lien Subordination”, a Lien Discharge” or “Lien Withdrawal”. It is important to keep in mind that your IRS problems didn’t just happen overnight and will take some time to resolve. The good news is that generally you won’t have to meet or even speak with the IRS while we’re retained. It’s important to consult with a tax resolution professional to see which lien relief solutions you may be eligible for before the IRS starts enforcing aggressive collection action against you. We can help protect what you have and preserve your rights!!
Teller at Check-Cashing Business Gets Bounced by the IRS
Krystal Proctor, a former teller at a check-cashing business, was indicted by a grand jury in the District of Maryland with theft of public money and conspiring to defraud the United States.

It’s alleged that from 2011 through 2013, Proctor and an unnamed co-conspirators filed false tax returns with the IRS using stolen IDs. Refund checks were taken to Proctor, who then entered false information into the check cashing businesses database. Proctor processed the stolen checks under the names of existing customers instead of the individuals named on the checks.

According to the indictment, Proctor cashed over 100 checks totaling more than $500,000.

If convicted, Proctor faces a maximum sentence of five years in prison for conspiracy and 10 years for each count of theft of public money. She will also have to pay restitution and penalties.

A trial date is pending.
I'd Like to Hear From You...
If you have an IRS issue, or just want to refer a friend, relative or client, I'd love to hear from you. I can provide a no-obligation confidential consultation to help you solve your IRS problems.

772-337-1040
Jeffrey Schneider, EA, CTRS, NTPI Fellow
10570 S US Highway 1, Ste. 203
Port St Lucie, FL 34952
A Bit of Tax Humor......
Recipe of the Month
Gumbo-laya served over Cauiflower Rice
This is totally yummy. Chock full of goodness; shrimp, spicy sausage and chicken. We like very spicy food so we up the spice and heat factor.

To serve as a carb friendly meal, substitute cauliflower rice for white rice.

Find the recipe on our Pinterest page, It's all about the carbs for Jeff. For Ali, it's all about the red zinfandel that pairs so nicely with this spicy dish that she doesn't eat!
SFS Tax Problem Solutions | [email protected] | 772.337.1040 | sfstaxproblemsolutions.com