BANKER CHARGED WITH HELPING U.S. TAXPAYERS CONCEAL SECRET ISRAELI BANK ACCOUNTS (ADVANCE TAX RELIEF LLC www.advancetaxrelief.net (800)790-8574)

Shokrollah Baravarian, of Beverly Hills, California, was charged today in the U.S. District Court for the Central District of California with conspiracy to defraud the United States, the Justice Department and Internal Revenue Service (IRS) announced.

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According to the indictment, Mr. Baravarian, a former senior vice president at the Los Angeles branch of a bank headquartered in Tel Aviv, Israel, conspired to conceal the existence of undeclared accounts owned and controlled by U.S. customers in Israel. The indictment alleges that these accounts were concealed from the IRS by opening them under pseudonyms, code names and the names of nominee entities set up in the British Virgin Islands and the island of Nevis.

"IRS-Criminal Investigation and Tax Division prosecutors have been investigating the use of undeclared bank accounts globally, and charges have been brought against not only the U.S. taxpayers with undeclared Israeli bank accounts but also those who facilitate the hiding of assets and income abroad," said Assistant Attorney General Kathryn Keneally for the Tax Division. "Whether it be Israel, Switzerland, the Caribbean or elsewhere, the Justice Department is finding the hiding places and is committed to prosecuting tax cheats."

If convicted, Baravarian faces a potential maximum prison term of five years and a maximum fine of $250,000. The charge contained in the indictment is only an allegation. The defendant is presumed innocent and it is the government's burden to prove guilt beyond a reasonable doubt.

This is not a game guys!!!!

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"My husband lost his job and the IRS was garnishing my wages. I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful" - Shirley W, Tampa FL.

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MOTHER AND SON CHARGED WITH CONSPIRING TO DEFRAUD INTERNAL REVENUE SERVICE (ADVANCE TAX RELIEF LLC www.advancetaxrelief.net)

WASHINGTON – Sherri Davis and her son, Andre Davis, were charged in a superseding indictment with conspiring to defraud the Internal Revenue Service (IRS) and with aiding and assisting in the preparation of false individual income tax returns, the Justice Department and IRS announced today. Sherri Davis was also charged with filing her own false individual income tax returns for tax years 2007 to 2009.

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According to the superseding indictment, Sherri Davis was the previous owner and operator of 2FT Fast Facts Tax Service, a tax return preparation business located in Washington, D.C. Andre Davis is the current owner and operator of Davis Financial Services (DFS), a tax return preparation business also located in Washington, D.C. From January 2006 through April 15, 2013, Sherri Davis and Andre Davis conspired with others to defraud the IRS by preparing and filing false income tax returns that contained fraudulent deductions, expenses, losses and credits to which 2FT and DFS clients were not entitled, thereby generating fraudulent income tax refunds.

The superseding indictment alleges that Sherri Davis and Andre Davis falsified tax documents for 2FT and DFS clients in order to reduce their taxable income and to get a larger refund than what the client was entitled to receive. The superseding indictment also alleges that from 2007 through 2009, Sherri Davis filed her own false individual income tax returns which underreported 2FT's gross receipts and falsely claimed business losses for 2FT.

An indictment merely alleges that crimes have been committed and the defendants are presumed innocent until proven guilty beyond a reasonable doubt. If convicted of the conspiracy charge, the defendants face a statutory maximum sentence of five years in prison and a $250,000 fine. The charges of filing a false income tax return and aiding or assisting in filing a false return carry a statutory maximum sentence of three years in prison and a fine of $250,000 for each count.

Are you facing an IRS Audit or getting levied? contact us now:
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"My husband lost his job and the IRS was garnishing my wages. I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful" - Shirley W, Tampa FL.

No more sleepless nights. Call Advance Tax Relief at (800)790 8574 and get started today!

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TAX PREPARER INDICTED FOR STOLEN IDENTITY REFUND FRAUD (ADVANCE TAX RELIEF LLC www.advancetaxrelief.net)

WASHINGTON – Teresa Floyd, of Phenix City, Alabama, was indicted for her alleged involvement in a stolen identity refund fraud scheme, Deputy Assistant Attorney General Ronald A. Cimino of the Justice Department's Tax Division and U.S. Attorney George L. Beck Jr. for the Middle District of Alabama announced today following the unsealing of the indictment.

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Floyd has been charged with several counts of wire fraud and aggravated identity theft. According to the indictment, Floyd owned and operated a tax preparation business called T & L Tax Service that was located in Phenix City. Floyd obtained the means of identification of individuals and used those identities to file fraudulent income tax returns. In order to conceal her scheme, Floyd created fictitious identification documents and bills in the names of those individuals. The indictment also seeks to forfeit $320,397 from Floyd.

An indictment merely alleges that crimes have been committed and the defendant is presumed innocent until proven guilty beyond a reasonable doubt. If convicted, Floyd faces a statutory maximum sentence of 20 years in prison for each wire fraud count and a mandatory two year sentence for the aggravated identity theft counts. Floyd is also subject to fines, forfeiture and restitution if convicted.

Are you facing an IRS Audit or getting levied? contact us now:
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"My husband lost his job and the IRS was garnishing my wages. I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful" - Shirley W, Tampa FL.

No more sleepless nights. Call Advance Tax Relief at (800)790 8574 and get started today!

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ILLINOIS MAN PLEADS GUILTY TO OBSTRUCTION OF JUSTICE AND FILING FALSE MULTI-BILLION DOLLAR LIENS AGAINST TWO FEDERAL JUDGES AND OTHER GOVERNMENT EMPLOYEES

WASHINGTON – Tyree Davis Sr., 42, of Flossmoor, Illinois, pleaded guilty to two counts of obstruction of justice and two counts of filing false retaliatory liens against government officials, the Justice Department announced today.

Davis pleaded guilty earlier today before U.S. District Judge Michael M. Mihm of the Central District of Illinois. Davis faces a statutory maximum sentence of 10 years in prison for each of the obstruction of justice charges as well as a statutory maximum sentence of 10 years in prison for each of the filing false retaliatory liens charges at his sentencing on Oct. 15.

A federal grand jury in Chicago returned an eight count federal indictment on July 24, 2013, charging Davis with obstruction of justice and filing fraudulent multi-billion dollar liens against government employees. According to the court documents, Davis obstructed justice by sending correspondence threatening to arrest two federal judges, including the judge who presided over the 2010 criminal tax trial of LaShawn Littrice. Littrice, whom Davis refers to as his wife, was convicted by a jury in June 2010 and sentenced to serve 42 months in prison in December 2010. Davis also filed false liens, titled Notice of Maritime Liens, claiming that each judge owed Littrice $100 billion. Davis then notified others, including credit bureaus, that he had filed the multi-billion dollar liens. In addition, Davis filed false liens against the U.S. Attorney and Clerk of Court for the Northern District of Illinois, an Assistant U.S. Attorney and an Internal Revenue Service (IRS)-Criminal Investigation special agent. The liens were all publicly filed with the Cook County Recorder’s Office and claimed that each individual owed Littrice $100 billion. Each of the liens were re-recorded in order to add real property descriptions.

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"My husband lost his job and the IRS was garnishing my wages. I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful" - Shirley W, Tampa FL.

No more sleepless nights. Call Advance Tax Relief at (800)790 8574 and get started today!

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U.S. POSTAL SERVICE EMPLOYEE PLEADS GUILTY TO TAX FRAUD (ADVANCE TAX RELIEF LLC www.advancetaxrelief.net (800)790-8574)

WASHINGTON – Aaron H. Kelly, a U.S. Postal Service employee, pleaded guilty today in the U.S. District Court for the District of Maryland to aiding and assisting in filing a false tax return with the Internal Revenue Service (IRS), the Justice Department and IRS announced today. Kelly was indicted on Feb. 24, 2014, for allegedly engaging in a scheme to defraud the IRS, the Thrift Saving Plan and the Educational Systems Federal Credit Union by sending fictitious financial instruments to fraudulently extinguish the debts he owed to them, and for aiding in filing false tax returns with the IRS.

According to the plea agreement, in 2008, Kelly submitted a false individual income tax return for tax year 2006 to the IRS. On this tax return, Kelly falsely claimed that he had substantial federal income tax withheld, and fraudulently represented that he was entitled to a refund of $193,653. Sentencing is set for Feb. 2, 2015, where Kelly faces a statutory maximum sentence of three years in prison.

Are you facing an IRS Audit or getting levied? contact us now:
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"My husband lost his job and the IRS was garnishing my wages. I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful" - Shirley W, Tampa FL.

No more sleepless nights. Call Advance Tax Relief at (800)790 8574 and get started today!

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NEBRASKA "SOVEREIGN CITIZEN" CONVICTED OF FILING FALSE LIENS AGAINST FEDERAL OFFICIALS AND FEDERAL TAX CRIME (ADVANCE TAX RELIEF LLC www.advancetaxrelief.net)

WASHINGTON – A federal jury in Omaha, Nebraska, found Donna Marie Kozak guilty on Friday of conspiracy to file and filing false liens against two U.S. District Court judges, the U.S. Attorney for the District of Nebraska, two Assistant U.S. Attorneys and an Internal Revenue Service (IRS) special agent, the Justice Department announced.

The federal jury also convicted Kozak of filing a false claim against the United States for $660,000 and for corruptly endeavoring to obstruct the due administration of the internal revenue laws. Kozak was remanded into custody pending sentencing. The maximum prison term for each false lien charge is 10 years, five years for the false claim charge and three years for the obstructing the IRS charge. Many of the offenses have an additional 10 years of potential imprisonment because they were committed while Kozak was on pretrial release.

Based on the evidence introduced at trial and court filings, Kozak, a former member of the so-called sovereign citizen group "Republic for the united States of America," engaged in a conspiracy to retaliate against federal officials involved in the criminal investigation and prosecution of David and Bernita Kleensang, associates of Kozak who were convicted of federal tax crimes in 2012. Kozak initially retaliated against the federal judge who presided over the Kleensang trial by filing a false lien against her for $19 million with the Boyd County, Nebraska, clerk's office. After a federal grand jury indicted Kozak for filing the false lien and for federal tax crimes, she filed five $18 million false liens against federal officials at the Washington County, Nebraska, register of deeds office while on pretrial release.

The evidence introduced at trial and court filings also showed that since the late 1990s, Kozak has engaged in a long series of fraudulent schemes to obstruct the internal revenue laws. These included placing her property in sham trusts, establishing a sham charitable foundation, sending harassing correspondence to IRS employees and filing bogus tax returns, trust returns, private-foundation returns and other false documents with the IRS. In 2008, she filed a tax return based on fictitious income and tax withholdings on Form 1099-OID statements that claimed a refund of $660,000.

Are you facing an IRS Audit or getting levied? contact us now:
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"My husband lost his job and the IRS was garnishing my wages. I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful" - Shirley W, Tampa FL.

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JUSTICE DEPARTMENT SEEKS TO SHUT DOWN LOS ANGELES AREA TAX RETURN PREPARER (ADVANCE TAX RELIEF LLC (800)790-8574 www.advancetaxrelief.net)

Allegedly Overstated Deductions and Withholdings and Intercepted Clients' Tax Refunds

WASHINGTON – The United States has asked a federal court in Los Angeles to bar Elton L. Barnes Jr. from preparing tax returns for others, the Justice Department announced today.

In 2002, Barnes pleaded guilty to aiding and assisting in the preparation of false tax returns, but he resumed preparing returns when he was released from prison, the government alleges. Since then, according to the complaint, Barnes has repeatedly prepared federal income tax returns, sometimes working under the names McNair Group, So Cal Financial Services and Anderson Investment Group, with fraudulent claims such as falsely inflated charitable contribution deductions and losses from imaginary home businesses. The complaint further alleges that Barnes has prepared returns that intentionally overstate the amount of federal income tax that has been withheld from his clients' paychecks in order to claim a larger refund.

According to the complaint, the Internal Revenue Service (IRS) has chosen to audit more than 180 tax returns that Barnes prepared and that have been filed since his release from prison in 2009. The complaint also alleges that, although it has not completed its audits of all those returns, the IRS has already identified almost $2 million in false refund claims and understatements of taxes owed.

The complaint also alleges that Barnes met with a customer and obtained the customer's personal identifying information, including his name, address and social security number. Allegedly, without the customer's knowledge, Barnes then used the customer's information to file a tax return that directed the IRS to deposit the claimed tax refund into Barnes' bank account. The United States has identified more than 50 tax refunds that were deposited into bank accounts Barnes controls, although some deposits may have been made with the knowledge of Barnes' clients. It is against federal law for a tax return preparer to deposit a client's tax refund into his own bank account. According to the complaint, Barnes violated other laws that apply to return preparers by failing to sign returns he prepared or use his preparer tax identification number on them.

Return-preparer fraud is one of the IRS' Dirty Dozen Tax Scams for 2014. The IRS has some tips on their website for choosing a tax preparer. In the past decade, the Tax Division has obtained injunctions against hundreds of fraudulent tax preparers. Information about these cases is available on the Justice Department website. An alphabetical listing of persons enjoined from preparing returns and promoting tax schemes can be found on this page. If you believe that one of the enjoined persons or businesses may be violating an injunction, please contact the Tax Division with details.

Are you facing an IRS Audit or getting levied? contact us now:
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"My husband lost his job and the IRS was garnishing my wages. I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful" - Shirley W, Tampa FL.

No more sleepless nights. Call Advance Tax Relief at (800)790 8574 and get started today!

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FIVE FACTS ABOUT UNEMPLOYMENT BENEFITS (ADVANCE TAX RELIEF LLC www.advancetaxrelief.com)

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If you lose your job or your employer lays you off, you may be able to get unemployment benefits. The payments may be a welcomed relief. But you should know that they’re taxable.

Here are five important facts from the IRS about unemployment compensation:

1. You must include all unemployment compensation in your income for the year. You should receive a Form 1099-G, Certain Government Payments. It will show the amount paid to you and the amount of any federal income taxes withheld.
   
2. There are several types of unemployment compensation. They generally include any amount received under an unemployment compensation law of the U.S. or a state. For more about the various types, see Publication 525, Taxable and Nontaxable Income.
   
3. You must include benefits paid to you from regular union dues in your income. Different rules may apply if you contribute to a special union fund and those contributions are not deductible. In that case, only include as income any amount you get that is more than the contributions you made.
   
4. You can choose to have federal income tax withheld from your unemployment. You make this choice using Form W-4V, Voluntary Withholding Request. If you do not choose to have tax withheld, you may have to make estimated tax payments during the year.
   
5. If you are facing financial difficulties, you should visit IRS.gov. “What Ifs” for Struggling Taxpayersexplains the tax effect of events such as the loss of a job. For example, if your income decreased, you may be eligible for some tax credits, such as the Earned Income Tax Credit. If you owe federal taxes and can’t pay your bill, contact the IRS as soon as possible. In many cases, the IRS can take steps to help ease your financial burden.

For more details, see IRS Publications 17, Your Federal Income Tax, or IRS Publication 525. You can download these booklets and Form W-4V at IRS.gov. You may also order them by calling 800-TAX-FORM (800-829-3676).

"My husband lost his job and the IRS was garnishing my wages. I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful" - Shirley W, Tampa FL. 

No more sleepless nights. Call Advance Tax Relief at (800)790 8574 and get started today! 

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FIVE TAX CREDITS THAT CAN REDUCE YOUR TAXES (ADVANCE TAX RELIEF LLC www.advancetaxrelief.net)

Tax credits help reduce the taxes you owe. Some credits are also refundable. That means that, even if you owe no tax, you may still get a refund.

Here are five tax credits you shouldn’t overlook when filing your 2013 federal tax return:

1. The Earned Income Tax Credit is a refundable credit for people who work but don’t earn a lot of money. It can boost your refund by as much as $6,044. You may be eligible for the credit based on the amount of your income, your filing status and the number of children in your family. Single workers with no dependents may also qualify for EITC. Visit IRS.gov and use the EITC Assistant tool to see if you can claim this credit. For more see Publication 596, Earned Income Credit.
2. The Child and Dependent Care Credit can help you offset the cost of daycare or day camp for children under age 13. You may also be able to claim it for costs paid to care for a disabled spouse or dependent. For details, see Publication 503, Child and Dependent Care Expenses.
3. The Child Tax Credit can reduce the taxes you pay by as much as $1,000 for each qualified child you claim on your tax return. The child must be under age 17 in 2013 and meet other requirements. Use the Interactive Tax Assistant tool on IRS.gov to see if you can claim the credit. See Publication 972, Child Tax Credit, for more about the rules.
4. The Saver’s Credit helps workers save for retirement. You may qualify if your income is $59,000 or less in 2013 and you contribute to an IRA or a retirement plan at work. Check out Publication 590, Individual Retirement Arrangements (IRAs).
5. The American Opportunity Tax Credit can help you offset college costs. The credit is available for four years of post-secondary education. It’s worth up to $2,500 per eligible student enrolled at least half time for at least one academic period. Even if you don’t owe any taxes, you still may qualify. However, you must complete Form 8863, Education Credits, and file a tax return to claim the credit. Use the Interactive Tax Assistant tool on IRS.gov to see if you can claim the credit.Publication 970, Tax Benefits for Education, has the details.

Before you claim any tax credit, be sure you qualify for it.

"My husband lost his job and the IRS was garnishing my wages. I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful" - Shirley W, Tampa FL. 

No more sleepless nights. Call Advance Tax Relief at (800)790 8574 and get started today! 

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SPECIAL EXCLUSION FOR CANCELLED HOME MORTGAGE DEBT (ADVANCE TAX RELIEF LLC www.advancetaxrelief.net)

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If a lender cancels or forgives money you owe, you usually have to pay tax on that amount. But when it comes to your home, an important exception to this rule may apply in 2013. Here are several key facts from the IRS about the special exclusion for cancelled home mortgage debt:

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• If the cancelled debt was a mortgage loan on your main home, you may be able to exclude the cancelled amount from your income. To qualify you must have used the loan to buy, build or substantially improve your main home. The loan must also be secured by your main home.
• If your lender cancelled part of your mortgage through a loan modification, or ‘workout,’ you may be able to exclude that amount from your income. You may also be able to exclude debt discharged as part of the Home Affordable Modification Program. Visit IRS.gov for more details about HAMP. The exclusion may also apply to the amount of debt cancelled in a foreclosure.
• The exclusion may apply to amounts cancelled on a refinanced mortgage. This applies only if you used proceeds from the refinancing to buy, build or greatly improve your main home. Proceeds used for other purposes don’t qualify. For example, a loan that you used to pay your credit card debt doesn’t qualify.
• Other types of cancelled debt do not qualify for this special exclusion. This includes debt cancelled on second homes, rental and business property, credit card debt or car loans.
• If your lender reduced or cancelled at least $600 of your mortgage debt, you should receive Form 1099-C, Cancellation of Debt, in January of the following year. This form shows the amount of cancelled debt and other information. Notify your lender if any information on the form is wrong.
• Report the excluded debt on Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness. File the completed form with your federal tax return.
• Use IRS e-file to file your tax return. E-file is the easiest way to file because the software will do the hard work for you. You can use IRS Free File to prepare and e-file your tax return with either free, brand-name software or online fillable forms – all for free. Otherwise, you may file electronically with commercial software, or through a paid preparer.
• Whether you use IRS e-File or mail a paper return, you can use the Interactive Tax Assistant on IRS.gov to find out if you must pay tax on cancelled mortgage debt.

For more on this topic, see Publication 4681, Canceled Debts, Foreclosures, Repossessions and Abandonments. You can get IRS forms and publications online at IRS.gov or by calling 800-TAX-FORM (800-829-3676).

"My husband lost his job and the IRS was garnishing my wages. I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful" - Shirley W, Tampa FL. 

No more sleepless nights. Call Advance Tax Relief at (800)790 8574 and get started today! 

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TIPS FOR SELF-EMPLOYED TAXPAYERS (ADVANCE TAX RELIEF LLC www.advancetaxrelief.net)

If you are an independent contractor or run your own business, there are a few basic things to know when it comes to your federal tax return. Here are six tips you should know about income from self-employment:

1. Self-employment income can include income you received for part-time work. This is in addition to income from your regular job.
   
2. You must file a Schedule C, Profit or Loss from Business, or Schedule C-EZ, Net Profit from Business, with your Form 1040.
   
3. You may have to pay self-employment tax as well as income tax if you made a profit. Self-employment tax includes Social Security and Medicare taxes. Use Schedule SE, Self-Employment Tax, to figure the tax. Make sure to file the schedule with your tax return.
   
4. You may need to make estimated tax payments. People typically make these payments on income that is not subject to withholding. You may be charged a penalty if you do not pay enough taxes throughout the year.
   
5. You can deduct some expenses you paid to run your trade or business. You can deduct most business expenses in full, but some must be ’capitalized.’ This means you can deduct a portion of the expense each year over a period of years.
   
6. You can deduct business costs only if they are both ordinary and necessary. An ordinary expense is one that is common and accepted in your industry. A necessary expense is one that is helpful and proper for your trade or business.

Visit the Small Business and Self-Employed Tax Center on IRS.gov for all your federal tax needs. You can also get IRS tax forms and publications on IRS.gov or by calling 800-TAX-FORM (800-829-3676).

"My husband lost his job and the IRS was garnishing my wages. I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful" - Shirley W, Tampa FL. 

No more sleepless nights. Call Advance Tax Relief at (800)790 8574 and get started today! 

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HOME OFFICE DEDUCTIONS FEATURES THE SIMPLER OPTION (ADVANCE TAX RELIEF LLC www.advancetaxrelief.net)

If you work from home, you should learn the rules for how to claim the home office deduction. Starting this year, there is a simpler option to figure the deduction for business use of your home. The new option will save you time because it simplifies how you figure and claim the deduction. It will also make it easier for you to keep records. It does not change the rules for who may claim the deduction.

Here are six facts from the IRS about the home office deduction.

1. Generally, in order to claim a deduction for a home office, you must use a part of your home exclusively and regularly for business purposes. Also, the part of your home used for business must be:
   • your principal place of business, or
   • a place where you meet clients or customers in the normal course of business, or
   • a separate structure not attached to your home. Examples might include a studio, garage or barn.
2. If you use the actual expense method, the home office deduction includes certain costs that you paid for your home. For example, if you rent your home, part of the rent you paid could qualify. If you own your home, part of the mortgage interest, taxes and utilities you paid could qualify. The amount you can deduct usually depends on the percentage of your home used for business.
3. Beginning with 2013 tax returns, you may be able to use the simplified option to claim the home office deduction instead of claiming actual expenses. Under this method, you multiply the allowable square footage of your office by a prescribed rate of $5. The maximum footage allowed is 300 square feet. The deduction limit using this method is $1,500 per year.
4. If your gross income from the business use of your home is less than your expenses, the deduction for some expenses may be limited.
5. If you are self-employed and choose the actual expense method, use Form 8829, Expenses for Business Use of Your Home, to figure the amount you can deduct. You claim your deduction onSchedule C, Profit or Loss From Business, if you use either the simplified or actual expense method. See the Schedule C instructions for how to report your deduction.
6. If you are an employee, you must meet additional rules to claim the deduction. For example, in addition to the above tests, your business use must also be for your employer’s convenience.

"My husband lost his job and the IRS was garnishing my wages. I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful" - Shirley W, Tampa FL. 

No more sleepless nights. Call Advance Tax Relief at (800)790 8574 and get started today! 

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THESE TWO TAX CREDITS HELP PAY FOR COLLEGE (ADVANCE TAX RELIEF LLC (800)790-8574 www.advancetaxrelief.net)

Did you, your spouse or your dependent take higher education classes last year? If so, you may be able to claim the American Opportunity Credit or the Lifetime Learning Credit to help cover the costs. Here are some facts from the IRS about these important credits.

The American Opportunity Credit is:

• Worth up to $2,500 per eligible student.
  
• Only available for the first four years at an eligible college or vocational school.
  
• Subtracted from your taxes but can also give you a refund of up to $1,000 if it’s more than your taxes.
  
• For students earning a degree or other recognized credential.
  
• For students going to school at least half-time for at least one academic period that started during the tax year.
  
• For the cost of tuition, books and required fees and supplies.

The Lifetime Learning Credit is:

• Limited to $2,000 per tax return, per year, no matter how many students qualify.
  
• For all years of higher education, including classes for learning or improving job skills.
  
• Limited to the amount of your taxes.
  
• For the cost of tuition and required fees, plus books, supplies and equipment you must buy from the school.

For both credits:

• Your school should give you a Form 1098-T, Tuition Statement, showing expenses for the year. Make sure it’s correct.
  
• You must file Form 8863, Education Credits, to claim these credits on your tax return.
  
• You can’t claim either credit if someone else claims you as a dependent.
  
• You can’t claim both credits for the same student or for the same expense, in the same year.
  
• The credits are subject to income limits that could reduce the amount you can claim on your return.
  
• Visit IRS.gov and use the Interactive Tax Assistant tool to see if you’re eligible to claim these credits.

See Publication 970, Tax Benefits for Education for more on this topic. You can get it on IRS.gov or by calling 800-TAX-FORM (800-829-3676).

"My husband lost his job and the IRS was garnishing my wages. I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful" - Shirley W, Tampa FL. 

No more sleepless nights. Call Advance Tax Relief at (800)790 8574 and get started today! 

ADVANCE TAX RELIEF LLC 
www.advancetaxreliefattorneys.com 
BBB Accredited Business

Additional IRS Resources:

• Tax Benefits for Education: Information Center
• Education Credits--AOTC and LLC
• American Opportunity Tax Credit
• Lifetime Learning Credit
• American Opportunity Tax Credit: Questions and Answers

IRS YouTube Videos:

• Education Tax Credits – English | Spanish | ASL

IRS Podcasts:

• Education Tax Credits – English | Spanish

TEN HELPFUL TIPS FOR FARM TAX RETURNS (ADVANCE TAX RELIEF LLC (800)790-8574 www.advancetaxrelief.net)

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There are many tax benefits for people in the farming business. Farms include plantations, ranches, ranges and orchards. Farmers may raise livestock, poultry or fish, or grow fruits or vegetables.

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Here are 10 things about farm income and expenses to help at tax time.

1. Crop insurance proceeds.  Insurance payments from crop damage count as income. Generally, you should report these payments in the year you get them.
2. Deductible farm expenses.  Farmers can deduct ordinary and necessary expenses they paid for their business. An ordinary expense is a common and accepted cost for that type of business. A necessary expense means a cost that is appropriate for that business.
3. Employees and hired help.  You can deduct reasonable wages you paid to your farm’s full and part-time workers. You must withhold Social Security, Medicare and income taxes from their wages.
4. Sale of items purchased for resale.  If you sold livestock or items that you bought for resale, you must report the sale. Your profit or loss is the difference between your selling price and your basis in the item. Basis is usually the cost of the item. Your cost may also include other amounts you paid such as sales tax and freight.
5. Repayment of loans. You can only deduct the interest you paid on a loan if the loan is used for your farming business. You can’t deduct interest you paid on a loan that you used for personal expenses.
6. Weather-related sales.  Bad weather such as a drought or flood may force you to sell more livestock than you normally would in a year. If so, you may be able to delay reporting a gain from the sale of the extra animals.
7. Net operating losses.  If your expenses are more than income for the year, you may have a net operating loss. You can carry that loss over to other years and deduct it. You may get a refund of part or all of the income tax you paid in prior years. You may also be able to lower your tax in future years.
8. Farm income averaging.  You may be able to average some or all of the current year's farm income by spreading it out over the past three years. This may lower your taxes if your farm income is high in the current year and low in one or more of the past three years.
9. Fuel and road use.  You may be able to claim a tax credit or refund of excise taxes you paid on fuel used on your farm for farming purposes.
10. Farmers Tax Guide.  For more details on this topic see Publication 225, Farmer’s Tax Guide. You can get it on IRS.gov or call the IRS at 800-TAX-FORM (800-829-3676) to have it mailed to you.

Additional IRS Resources:

• Schedule F, Profit or Loss From Farming
• Agriculture Tax Center
• Small Business and Self-Employed Tax Center
• IRS Free File
• E-file Options
• 1040 Central
• Interactive Tax Assistant
• IRS Tax Map

"My husband lost his job and the IRS was garnishing my wages. I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful" - Shirley W, Tampa FL. 

No more sleepless nights. Call Advance Tax Relief at (800)790 8574 and get started today! 

ADVANCE TAX RELIEF LLC 
www.advancetaxreliefattorneys.com 
BBB Accredited Business