- Days left
Randy Nowak, a Florida resident, has been arrested and charge with attempted murder of an employee of the United States for plotting to kill an Internal Revenue Service employee. He wanted the IRS Revenue Officer killed because she was investigating his personal and business finances.

Nowak offered an undercover FBI agent $20,000 to kill the Revenue Officer, and even put $10,000 down toward the deed. He also inquired as to whether the undercover agent would be willing to burn down the IRS office in Lakeland, Florida. The taxpayer allegedly had $4 million hidden in offshore accounts, and was going to owe around $300,000 in back taxes. The tax liabilities related to un-filed corporate taxes for his construction business, R.J. Nowak Enterprises, Inc.

When negotiating with the IRS about tax liabilities, it's probably best if you're not trying to kill the person in charge of auditing you. It's much more cooperative if it doesn't think you're trying to hire a hit man to whack one of its officers. And believe it or not, the IRS does negotiate on tax bills and a taxpayer who goes about it the right way might have some success in reducing what's owed and making payment arrangements.

Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.

Increase your money and finance knowledge from home

How much house can I afford

Home buying 101, evaluating one of your most important financial decisions.

View Course »

Intro to Retirement

Get started early planning for your long term future.

View Course »

TurboTax Articles

Tax Tips for the Blind

Anyone whose field of vision falls at or below 20 degrees, who wears corrective glasses but whose vision is 20/200 or less in his best eye, or who has no eyesight at all, meets the legal definition of being blind and is eligible for certain tax deductions.

What is Form 4255: Recapture of Investment Credit?

When is a tax credit not a tax credit? When the IRS takes it back. If you're in the situation where you have to file IRS Form 4255, you might have to pay back a tax credit you've earned in prior years. This process, known as recapture, occurs if you claim a credit -- in this case, a credit for a specific type of business investment -- and then no longer qualify for that credit.

The Most Important Tax Forms for ALEs (Applicable Large Employers)

In 2015, some parts of the Affordable Care Act specifically apply to businesses, in particular, large employers. The Employer Shared Responsibility provisions affect companies with 50 or more full-time employees or an equivalent of part-time or seasonal workers. These companies are called Applicable Large Employers, or ALEs. 2015 is considered a transition year as everyone gets used to the new normal for workplace health plans.

Employer Sponsored Health Coverage Explained

The Affordable Care Act, also known as Obamacare, is simpler than some people may give it credit for. The basic rule to remember is that everyone must carry Minimum Essential Coverage (MEC) or pay a penalty. Employers with 50 full-time employees or more are obligated to sponsor plans for their workers to help them meet this requirement.

How to Report RSUs or Stock Grants on Your Tax Return

Restricted stock units (RSUs) and stock grants are often used by companies to reward their employees with an investment in the company rather than with cash. As the name implies, RSUs have rules as to when they can be sold. Stock grants often carry restrictions as well. How your stock grant is delivered to you, and whether or not it is vested, are the key factors when determining tax treatment.

Add a Comment

*0 / 3000 Character Maximum