TaxEsqBlog -by Ronald J. Cappuccio, J.D., LL.M.(Tax)

The Internal Revenue Service has an onerous and expensive 2-step process for approval of exempt organizations. Because of the new IRS 990 annual filing requirement for non-profits, the IRS is changing the process. Instead of giving a 5-year preliminary approval requiring a review after 5 years to demonstrate the charity receives public support, the initial letter in now a final "Letter of Determination." This will eliminate the review but does not make up for the extra work of filing the 990,

The IRS seized $97,000 from Raceland, Ky. The Mayor told a startled city council at an emergency meeting Wednesday night that the Internal Revenue Service has seized close to $100,000 from the city coffers because of non-payment of 2006-2007 taxes. This means the muncipal employees will lose their jobs and leaves the town in a precarious position for supplying fire and police services. Read more about this IRS attack.

Here is a video of Ron Paul Summarizing some of his positions: Click Here... Remember to Contribute to Dr. Paul's Campaign onm December 16, 2007 Click Here...

The IRS has started a big push to collect money. Bank Levies and Wage Executions are up. There is also an attack against late filers. One client who is late filing a 941 for the third quarter (due Oct 31) has already received an IRS assessment based upon inflated figures. If that happens to your business, you have only 30 day from the DATE OF THE ASSESSMENT to file the actual return. If the IRS knocks on you door, get the card of the person, but give no information other than referring them to Ronald J. Cappuccio at (856) 665-2121. DO NOT LET THEM INTO YOUR HOME OR BUSINESS! For more information on Confronting the IRS, click here...