I am getting a lot of great feedback from last week's podcast episode withMichelle Weinstein- The Pitch Queen. Check out the episode and listen as she gives yours truly advice about our consult charges! And yes, we followed her advice and clients have not batted an eye!https://taxrepllc.com/tax-rep-network-podcast/ Thank youMichelle Weinstein! 07/10/2020

With high unemployment and increased uncertainty during these times, a recent TaxAudit survey shows that almost 2/3 of taxpayers are very concerned about the financial impact the pandemic is causing in their lives, including being forced into tax debt. This will be in addition to the 14+ million people the IRS already says are in collections! Additionally, the survey found that 1/3 of all taxpayers do not have the resources to pay their 2019 taxes!The time is now to set you and your practice up with the right tools and knowledge to actually help these people! Join Eric Green as he examines the exactly what needs to be done to position yourself to serve those that are going to need you most, and while you’re at it, add $100,000 or more to your bottom line doing it.The workshop will inclu... 06/29/2020

Join us for this very special workshop where Tax Attorney and National Speaker Eric Green will walk you through the IRS Collections process and how to utilize the rules to resolve your client’s nightmare with regards to everything from tax liens and tax levies to collection appeals.  Given the current economic uncertainty there has never been a better time to add this specialized and highly sought-after service to your current practice.  With 15 million taxpayers in the collection division’s inventory, and another 7 million non-filers BEFORE the COVID-19 pandemic began, the need for trained representatives to help taxpayers is going to explode.  This special workshop will include the following: The IRS Collection Process The IRS Notices Tax Liens Tax Levies Installment Agreements Uncoll... 06/20/2020

I focus my practice on civil and criminal taxpayer representation.  A federal grand jury in Roanoke, Virginia, returned an indictment today, charging a Virginia resident with evading payment of employment taxes and attempting to obstruct the Internal Revenue Service (IRS), announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division and U.S. Attorney Thomas T. Cullen for the Western District of Virginia. According to the indictment, Jeffrey Tharpe was the owner and operator of Shearin Construction Inc. (Shearin Construction), an excavating and heavy construction business located in Charlotte County.From 2002 through 2013, Tharpe allegedly caused payroll taxes to be withheld from Shearin Construction’s employees’ wages, but failed to... 06/20/2020

I will be speaking at this year's NYU Tax Controversy Forum, where I will be interviewing IRS Deputy SB/SE Commissioner Darren Guillot and IRS Director of Collection Paul Mamo regarding what we can expect in IRS Enforcement.  Topics will include the new fraud office, what IRS will be doing after 7/15 when the moratorium lifts on enforcement, and what to tell our clients.  Check out the entire conference for FREE at CPAacademy.org here: https://www.cpaacademy.org/webinars/a0D2S00000ktkQQUAY Eric L. GreenGreen & Sklarz LLCOne Audubon STreet, 3rd FloorNew Haven, CT 06511Ph. (203) 285-8545egreen@gs-lawfirm.comwww.gs-lawfirm.com   06/12/2020

Join us this Thursday June 4th for a free two hour program on IRS Offers-in-Compromise vs. Bankruptcy, and when you and your clients should choose one resolution alternative over the other.  Joining me will be Amanda Evans, EA and Joanna Kornafel, Esq. and we will walk through the IRS OIffer-in-Compromise program and the mechanics of bankruptcy, and what factors does a client need to have to select one over the other.  There are two credits available for CPAs and Enrolled Agents, and the program is free.CHeck it out and register for the program here: https://gs-lawfirm.com/program-20200604-resolving-tax-issues/We look forward to seeing you all on Thursday!Eric Green, Esq.Green & Sklarz LLCwww.gs-lawfirm.com  05/31/2020

The Accountant's Guide to Resolving Payroll Tax Debts and Personal Liability was just released by TG Publishing!Payroll taxes are the number one reason why small businesses get into tax trouble.  Why?  Because payroll taxes are the easiest loan to take and the hardest to repay.  Easy to take because there is no loan document to complete and no banker to refuse: just keep the tax money and spend it.  They are the hardest loans to pay back because once the IRS applies the various penalties and interest the balance increases to the point the business cannot easily pay it back.  In addition, the IRS will begin pursuing the owner and other responsible employees personally for the trust fund portion of the taxes!  Payroll Tax cases also are an opportunity for practitioners to make money while... 05/09/2020

So you or your clients got your PPP Loan money - Congratulations...now what?Congress has allocated more than $600 billion to PPP loans, with, maybe, more to come.  Many questions have arisen how businesses should use these funds and account for them to obtain the promised loan forgiveness.  In the wake of large well-heeled companies such as Shake Shack and the LA Lakers applying for PPP loans, the Government has quickly released an ever more byzantine web of off the cuff rules, in the form of FAQs.  Thus, the goal of PPP loans – to provide fast money to small businesses to avoid widespread failure and unemployment – has become more complicated to realize.This program, presented in two parts, will, first, analyze how the money has to be used to obtain forgiveness and explain best practic... 05/09/2020

Though I sit in New Haven, Connecticut most days we assist taxpayers all over the country to resolve their tax debts with the IRS.  There is a lot of confusion surrounding the IRS Offer-in-Compromise program, so I wanted to clear up some misconceptions. There is no magic to an Offer-in-Compromise.  At its core, the IRS Offer program is based upon a formula called "Reasonable Collection Potential", or RCP. Many taxpayers believe that if they cannot tap equity in assets than that equity is not included.  That is wrong.  What the Offer-in-Compromise program is effectively is calculating the amount of money the IRS is willing to accept to settle the tax debt.  It is not a  measurement of what the taxpayer can easily access.  If the taxpayer has equity they cannot tap and cannot get from som... 04/22/2020

The Paycheck Protection Program (“PPP”) is geared to small business. The Small Business Administration (“SBA”) uses a very specific and complicated definition to determine which businesses can generally qualify for SBA loans. Generally, qualifying business must be a “small business concern” to obtain a loan. The CARES Act adopts SBA terminology and allows businesses that are a “small business concern” as defined by § 3 of the Small Business Act, 15 U.S.C. § 636 and its regulations, and other “business concerns” to obtain PPP loans.Among other requirements, the SBA determines whether a business is a “small business concern” by looking to regulations defining the number of employees or gross revenue. Pursuant to 13 C.F.R. § 120.100: “To be eligible for an SBA business loan, a small busine... 04/16/2020

Over the past week, I’ve been asked whether there is anything in the CARES Act that can facilitate entrance, DIP, or exit financing for a chapter 11 debtor? The short answer is likely not the longer answer is maybe.The Act delegates rule making authority to Treasury and the SBA. Given the short timeframe for the programs to be introduced, guidance has come in the form of circulars, FAQs, and forms. Thus, the guidelines are less than clear and incomplete. The forms that borrowers must complete all prohibit obtaining a paycheck protection loan or EIDL loan if (a) the company is presently in bankruptcy or (b) has previously defaulted on any government loan in the past 7 years. Moreover, if the borrower has access to other credit, it cannot typically obtain an EIDL loan, which must be colla... 04/07/2020

 For the past several weeks I have been closely following the legislation and rule making concerning the CARES Act, payroll protection loans, and related provisions.  One of the most confusing is how attribution/affiliation rules apply to companies that want to take out payroll protection loans.  Two interesting issues that that I’ve seen are: Can the owner of an operating business use payroll protection loan proceeds to pay rent (a covered expense) to her affiliate real estate holding company? Can VC-backed start-ups, that would qualify as small businesses if they were stand-alone companies, apply for payroll protection loans? Before attempting to answer these questions, we have to know a little about SBA’s rules concerning ownership attribution and affiliation.  First, these rules are... 04/03/2020

The Internal Revenue Service today urged taxpayers to be on the lookout for a surge of calls and email phishing attempts about the Coronavirus, or COVID-19. These contacts can lead to tax-related fraud and identity theft."We urge people to take extra care during this period. The IRS isn't going to call you asking to verify or provide your financial information so you can get an economic impact payment or your refund faster," said IRS Commissioner Chuck Rettig. "That also applies to surprise emails that appear to be coming from the IRS. Remember, don't open them or click on attachments or links. Go to IRS.gov for the most up-to-date information."Taxpayers should watch not only for emails but text messages, websites and social media attempts that request money or personal information.“His... 04/03/2020

The Internal Revenue Service today urged taxpayers to be on the lookout for a surge of calls and email phishing attempts about the Coronavirus, or COVID-19. These contacts can lead to tax-related fraud and identity theft."We urge people to take extra care during this period. The IRS isn't going to call you asking to verify or provide your financial information so you can get an economic impact payment or your refund faster," said IRS Commissioner Chuck Rettig. "That also applies to surprise emails that appear to be coming from the IRS. Remember, don't open them or click on attachments or links. Go to IRS.gov for the most up-to-date information."Taxpayers should watch not only for emails but text messages, websites and social media attempts that request money or personal information.“His... 04/02/2020

The Internal Revenue Service today announced that distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most people.These payments will based on the 2019 tax return if filed, and if not on the 2018 return.  This means that some seniors and others who typically do not file returns will need to submit a simple tax return to receive the stimulus payment.Tax filers with adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing joint returns will receive the full payment. For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$150,000 thresholds. Single filers with income exceeding $99,000 and $198,000 for jo... 04/01/2020

I spend most of my days resolving civil and criminal tax issues with the IRS and Connecticut Department of Revenue.  Whether its income tax, payroll tax or sales tax, we have seen and dealt with most issues.  The current pandemic is creating economic chaos and incredible stress on individuals who are worried about their family's health and financial well-being.So it sounds strange to write it, but there might be a silver lining to this current pandemic.  The situation actually does create an opportunity to resolve back tax debts with the government.   The IRS, as well as most states, consider collectibility for tax debts to be based upon the taxpayers current financial situation.  So for taxpayers who have hit rough times, now may be the time to modify that installment agreement you can... 03/27/2020

Join us Monday March 30th for a FREE two-hour webinar to update you on the business, economic and tax impact of the CARES Act:Preserving Businesses During the COVID-19 Recession: Understanding the Business and Tax Impact of the CARES ActYou can register for FREE here: https://gs-lawfirm.com/program-20200330-preserving-business-during-covid-19-recession/On March 25th, the Senate passed HR 478, The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). This $2.2 trillion package is the largest ever peace time expenditure in U.S. history. Its aim is to provide fiscal stimulus to save the American economy on account of the forced shut-down of many industries due to the novel coronavirus (COVID-19). In addition, all levels of government from municipalities to the IRS, as well as i... 03/27/2020

The focus of my practice is civil and criminal tax controversy.  At 2pm EST today the IRS released its response to assist taxpayers and give guidance as to what it will be doing as far as enforcement.  IR-2020-59 provides important guidance concerning:  Existing installment agreements, New installment agreements, Pending Offers-in-Compromises, Audits, and Field collection activites (i.e. tax liens and tax levies).The highlights include: All 2019 Income Tax Returns that were due April 15th are not due July 15th - no request required.  An extension may still be filed to get additional time until October 15th All tax payments due for Aprul 15th - including income tax due with the 2019 return and ist quarter 2020 estmated tax payments are also deferred until July 15th Taxpayers may suspend ... 03/25/2020

In this special episode of the Tax Rep Network podcast I am joined by my law partner Noelle Geiger, Esq. who reviews the current response to the Covid-19 panedemic by the IRS and what you and your clients need to know. Check out the episode here: https://taxrepllc.com/tax-rep-network-podcast-episode-74-the-irs-response-to-the-coronavirus/   03/19/2020

The saying “May you live to see interesting times” has never been more poignant than now. The impact of the Coronavirus on society at large will be significant as individuals and businesses struggle to get through this. Join us Friday March 20th at 1:00 pm EST for a free session on what clients, attorneys and accountants need to know right now about the impact of the pandemic and what they should and should not be doing. Join Green & Sklarz partners Jeffrey Sklarz, Eric Green Jason Marsh and Shelby Wilson as they update you on what is happening, including: The response from the IRS and the impact on clients and their taxes An update on business reorganizations, debt issues and bankruptcy Business and commercial lending issues and where clients who need capital should be looking? With th... 03/19/2020