The Pappas Group - US and Florida Tax Law

Win big in the office Super Bowl pool? Don’t forget to tell the IRS

We have all done it. Participated in the office pool for the Super Bowl. I once won $250 a few years back by betting $20 on my team to win. Should I have reported those winnings to the IRS? Good question. According to Kay Bell, tax blogger for this recent article published by bankrate.com, I…

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Happy 100th Birthday to the American Tax Code. Here’s the Best Tax Quotes of All Time…Enjoy!

What do Ben Franklin, Albert Einstein and Plato have in common? All have provided memorable quotes about taxes over the last 100 years. Since the American Tax Code is celebrating it’s 100th birthday tomorrow, it is only fitting to revisit the notable commentary provided by such a diverse collection of Americans, all with the same thing in…

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Uncle Sal preparing your taxes this year? 5 signs to make you reconsider

As Americans start gathering their 2012 tax documents for the annual pilgrimage to their tax preparers office, here are 5 signs your tax preparer may be trouble waiting to happen. As Brian O’Connell, of MSN Money in 5 Signs of a Lousy Tax Preparer shares these tips can save you a lot of financial headaches and heartaches if you…

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Can I Settle my IRS Debt? A Questionnaire

As published in the Winter Park/Maitland Observer, Thursday Jan. 3, 2012 Edition Offers in Compromise (IRS settlements) are very difficult to get, but the IRS does grant them. I put together this short questionnaire for taxpayers to use to determine whether or not they qualify for an IRS settlement. Form 656 is the Offer in…

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IRS Aggressively pursues business owners who fail to remit payroll taxes

As published in the Seminole Voice Newspaper, July 13-July 26, 2012 The IRS Aggressively Pursues Business Owners who Fail to Remit Payroll Taxes We have been helping business taxpayers with their IRS tax problems for a very long time. One of the worst tax violations we encounter is the failure of an employer to remit payroll…

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The 3 most frequently prosecuted tax crimes

As published in the Winter Park/Maitland Observer Newspaper on December 6, 2012 The IRS criminal investigation division investigates and refers for prosecution some tax crimes more than others. Here are the three most frequently prosecuted tax crimes: Failure to File Tax Returns The Law 26 U.S.C. § 7203 – Willful failure to file return, supply…

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5 Rules for Keeping Your Tax Records

As published in the 1st Quarter 2013 Osceola ReView Magazine for Osceola County Realtors For disorganized people April is indeed the cruelest month. If you haven’t gotten your tax information to your tax preparer by now, it’s probably because you’ve been running around like Robin Williams on Red Bull trying to locate your receipts. You look…

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Happy Valentine’s Day Taxpayers! First Round of Refunds to Hit the Mail Mid-February

In spite of the delays in tax season, early bird tax filers, could see their refund checks as early as mid February, just in time for Valentine’s Day, with an average refund of $2,700, according to the IRS. For the average American household, this refund equates to a full month’s income for a couple. And what will…

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Just won the Florida Lottery? Uncle Sam congratulates you

Congratulations, just don’t reserve that round-the-world- cruise quite yet. According to state of Florida lottery laws, winnings of just $600 or more must be collected at a Florida Lottery District Office and not the location where the ticket was purchased. Winners must prove their identity (state approved list below), and that information is cross-checked with the IRS to…

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IRS Offers Taxpayers PIN #’s to Prevent Theft of Refunds

You use them at ATM’s; you use them at your bank; you use them at the grocery store. Now, you will use them to access your tax refund with the IRS. In an effort to crack down on taxpayer identity theft – there were tens of thousands of such instances in 2012 – the IRS…

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