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JUNE 2023
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3 Steps to Build a Solid Tax Foundation Get Your ‘House’ in Order
Then, you should ensure you’re keeping old tax returns. The general recommendation is to keep all old tax documents for at least seven years, but sometimes, there are circumstances where you may need to keep them longer, such as if you have a business, a partnership, or long- term investments you made long ago. This is especially important for dividend reinvestments because if you haven’t been reinvesting your stock’s dividends, those old returns will show the dividend amounts you may need to know. Other records you should always keep include the following:
lost all their records during Hurricane Harvey when the Category 4 hurricane flooded many Texas homes. So, to keep your “home” safe and strong, either scan or take images of your tax documents and store them in a virtual space you can access from anywhere in case a natural disaster destroys your computers or hard drives. If you’ve lost all your tax records for any reason, it’s not the end of the world. At IRSProb.com, our software lets us pull information from the IRS onto our servers for our client’s tax records. We can get back many of the necessary documents you’ll need to solve an IRS issue. However, we won’t be able to retrieve all your records, such as personal receipts, so making digital copies of all documents is still a good idea. FINISH WITH A ROOF. The final part of your home is the roof, which I consider the last step: filing. A roof protects you and your family from many possible issues, just like filing your taxes properly protects you from the IRS. However, the roof is the trickiest part of the build, and just a few errors can lead to trouble down the line — like problems with the IRS. But the truth is that 1 out of 7 taxpayers in the United States has an IRS issue, so if you or someone you know has made a few mistakes and now has an IRS problem, you’re not alone. We can help you (or someone you know) get your tax house in order, even if that means going back and starting at the foundation. Call our experienced team at (214) 214-3000 , so we can start helping you build something that lasts, so you won’t have to worry about your future. –Randy Martin
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W-2s 1099s
Documents for your home, including invoices or receipts for any home improvement projects, the original settlement statement, closing documents, and annual mortgage statements Records of any property or assets you have inherited from a loved one Documents for any significant life changes such as marriage, divorce, death of a spouse, child custody, or adoption papers
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For many of my clients, dealing with tax problems can be one of the most stressful things in their lives. Even just discussing their situation can be panic-inducing. My goal is always to help my clients in any way I can, and part of that is often working to ease the emotional burden the IRS causes. Sometimes, this requires a bit of reframing and talking in metaphors about some of the more sensitive subjects. One example I like to use is looking at tax information as a house. When clients are unsure of where to start, I always recommend the foundation: your records. START WITH THE FOUNDATION. Your tax records create a strong foundation for filing your returns correctly. This includes receipts for medical, child care, self-employment, and unreimbursed work-related expenses.
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Charitable donations
Gambling winnings and losses
Property tax expenses
BUILD THE WALLS. Once you have your records squared away, it’s time to start building your house up! In a home, walls provide security by protecting us from the outside. So, to build the walls in your “home” and defend yourself, it’s essential to back up all of your records digitally. We see so many people with IRS problems bring in some old box full of records that have been sitting in a garage for years. Often, the box has tons of damage from water, pests, and humidity. In fact, we still handle many cases where clients
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Lady Liberty Lands in America Behind the Landmark’s Journey to US Shores It’s hard to imagine the United States without its most iconic landmark, but the Statue of Liberty didn’t arrive on our shores until more than 100 years after the American Revolution ended. The torch-bearing monument so closely associated with our nation finally reached its home in the U.S. in May 1885 — but it arrived unceremoniously in 350 pieces. Contrary to widespread assumption, the Statue of Liberty did not celebrate America’s founding. Edouard de Laboulaye was a French anti-slavery advocate who wanted to give the country a statue representing freedom as the Civil War ended. He conceived of the sculpture in 1865 to mark the recent abolition of slavery. Laboulaye and sculptor Auguste Bartholdi decided on Lady Liberty because she was a familiar icon in U.S. culture, and a similar image appeared on American currency. Though invisible from most viewing angles, the statue has a broken shackle by her feet, representing a move toward freedom. Bartholdi chose Bedloe’s Island, now known as Liberty Island, as the ideal site for the statue because he imagined the figure welcoming people to America.
We Take On the IRS! Our Tireless Negotiations Resulted in $0 Owed Whether or not you’ve gone to court for legal issues, you’re likely familiar with how the process works. Attorneys for two opposing sides argue before a jury, and a judge decides what’s legal and what’s not. However, many people don’t know that there is such a thing called “tax court,” and it’s a big part of what we do at IRSProb.com. Tax court is very different from “real court,” as nearly everything is decided on appeal. But what is similar is that we stand by our clients and negotiate with tax court officers until we reach a resolution our clients are happy with.
Intended as a gift for the United States’ 100 years of independence in 1876, construction did not begin until that year due to funding issues. Even with the help of engineer Gustave Eiffel of Eiffel Tower fame, the project was a massive undertaking that took years for workers to complete. Titling it the Statue of Liberty Enlightening the World, its creators presented the finished monument to the U.S. Minister to France on Independence Day 1884, then disassembled it for shipping. On June 17, 1885, France’s gift arrived in more than 200 cases. But unfortunately, the United States wasn’t ready. Again facing a budget shortfall, the U.S. had not yet completed the pedestal to support the statue. When workers finally finished that last piece in 1886, a construction crew of mostly new immigrants reassembled the monument. Lady Liberty debuted to the public on Oct. 28, 1886, and she was an instant hit. Originally shiny like a new penny, the copper statue took less than 20 years to oxidize from the elements and gain the distinctive green
We’ve recently had two successful negotiations with fantastic results.
The first was for a woman who owed the IRS $123,677. Her husband had recently passed, and until then, he had been the one to take care of their taxes. Her CPA tried to help her as best as he could, but eventually, the battle with the IRS was too much, and he referred her to us for a free evaluation. As soon as we met her and heard the terror in her voice, we knew we needed to help. The process took 15 months and hours of negotiations, but we got the IRS to stand down and drop the entire tax liability. Our second successful negotiation occurred after a woman who owed $48,468 came to our office for an evaluation. After speaking with her, we discovered that she had some big wins while gambling the years prior but didn’t have proof of her losses. Many people don’t realize that while you should always claim your gambling wins on your taxes, the losses are deductible — but you need proof. So the IRS denied her losses and said she owed $48,468 from her winnings. We got to work immediately and started our no-nonsense strategy against the IRS. We took her case all the way to petitioning the tax court and were with her every step of the way.
hue it has today. Despite her French origins, the Statue of Liberty is now as American as apple pie, and her unmistakable image continues to represent the country’s values of freedom for all.
Ultimately, the entire amount was knocked off, resulting in $0 owed.
While we can’t settle all cases for $0 like these two, we almost always win a better result than initially promised. So if you, or someone you know, is struggling with an IRS issue, please call us at (214) 214-3000 for a FREE case evaluation.
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Outdated Information Won’t Win Against the IRS How IRSProb.Com Stays on Top
This past May, Norma and I spent a few days in LA for a multi-day tax conference, where I was presenting. Typically, Norma and I attend at least five trainings a year, each focusing on the latest news with the IRS, changes in tax law, regulations, and procedures. This is important because while tax laws may change every few years, IRS procedures constantly change. Attending these conferences ensures we’re always up to date on the latest ways to go toe-to-toe with the IRS and win. Plus, speaking with other professionals who also solve IRS problems is always beneficial. We share what strategies have worked best for our clients and what new techniques we can use to approach our cases. Many other business owners, CPAs, and professionals present at these conferences, too, sharing their real-life insights, tips, and tricks around tax-related issues. The conference we attended in May focused on IRS controversies, which have an enormous impact on the cases we deal with every day. Presenting during this conference was an incredible experience for me, and while I’ve done it many times before, I still enjoy each presentation as if it were the first! At IRSProb.com, our team is committed to continuously learning and evolving to remain on the cutting edge of IRS trends, decisions, rules, and guidelines. Outdated information won’t help anyone when taking on the IRS. So, when you come to our team for help with your IRS issue, know that we work hard to ensure that we have every tool at our disposal to help your case receive the best result possible.
–Randy Martin
Clients With IRS Issues?
Do you have clients with IRS problems and don’t know how to lead them? We’d love to hear from you! Handling the IRS bureaucracy is something that most legal and tax professionals themselves don’t want to deal with, and the taxpayer trying to go at it alone can hurt themselves just by saying the wrong thing or failing to speak up at the right time. That’s where we come in. At IRSProb.com, we specialize in helping people resolve their issues with the IRS so they can start anew and have hope for their future. If you know anyone struggling with an IRS-related issue, we’d love to help. Send us an email at Info@irsprob.com or call (214) 214-3000 so we can get started. Se Habla Español!
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Inside This Issue
Is Your Tax House in Order? page 1 The History of the Statue of Liberty’s Arrival page 2 Tax Court Triumphs page 2 We Evolve So You Can Win! page 3 Clients With IRS Issues? page 3 The Colorful History of Medieval Smack Talk page 4
The Original Rap Battles How Disses Became Poetry
Long before diss tracks, rap battles, and “yo mama” jokes, there was medieval “flyting.” Defined as quick exchanges of witty insults, these poetic slights were popular in England and Scotland from the 5th to 16th century. Insulting someone in verse took immense effort and quick wits, and they were undoubtedly a performance you didn’t want to miss. Despite crude language and below-the-belt potshots, flyting became entertainment for royals and was dubbed “court flyting.” While these
an insult and dropping the F-bomb. Low-brow and crass, these speedy insults were simply too entertaining for even kings and queens to ignore. If you’re wondering what exactly these two “gentlemen” were saying, we’d have to admit that it would be difficult to quote without including expletives and curses. However, one tame section can be shared here. Dunbar reportedly insulted Kennedie by saying:
Maggoty mutton, gorged glutton, scurrilous certain heir to Hillhouse, Rank beggar, oyster-dredger, dismal debtor on the lawn, Lily-livered, soul-shivered, cheap as slivers in the millhouse, Bard baiter, thief of nature, false traitor, devil’s spawn.
jests are not well-documented, one flyting event made history. The iconic exchange known as “The Flyting of Dunbar and Kennedie” occurred in the early 16th century between William Dunbar and Walter Kennedie. The two were performing their court flyting for the Scottish King James IV. Both men were known for their intellect and clever nature, and their flyting did not disappoint. This famous dialogue featured two firsts: using fecal matter as
While these amusing fights were a form of entertainment, men also used them to influence the courts and improve their social profile while lowering others. So, as you can imagine, flyting could get intense (similar to rap battles and heated diss tracks).
Centuries have passed, yet some things never really change!
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