Posts tagged "filing taxes"

Comptroller applicant withdraws more than $34,000 federal tax lien

There is one city comptroller in Grand Rapids that is withdrawing from consideration following a MLive inquire about a federal tax lien for his property.

The comptroller applicant named Mark Pospiech disclosed delinquent city income taxes on his application. Supposedly, he also owns $34,813 in federal income tax for 2009-2011, according to a tax lien that was filed in November of 2012 with the Kent County register of deeds.

Jerry Czaja, the county’s chief deputy register, says that it looks pretty clear that Pospiech didn’t pay his 1040 tax. When a person doesn’t pay their 1040 tax, the federal government will file a lien in the office, and the lien will become attached to any interest they have in any property. Currently, it doesn’t seem like a discharge will be recorded to release the lien.

Pospiech was one of the three applicants for the position of comptroller that was vacated when Donijo DeJonge stepped down from the position in December. He responded to MLive calls about the talked about lien with a written statement that he is going to withdraw from consideration of the comptroller position.

Pospiech said that throughout the application and interview process for the comptroller position, he said that the focus of the Press was more on his situation, eclipsing his abilities for the position. He believes that there are a variety of factors that have led to his current tax issues, but those factors are personal, and shouldn’t be drawn out by public opinion.



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Posted by Taxmaster - June 5, 2013 at 8:33 pm

Categories: Federal Tax, Income Tax, State Tax, Tax Evasion, Tax Law   Tags: , , , , , , ,

Useful tax tips for filing your federal tax return

It’s the time again: tax season.  Although individual tax returns aren’t due until April 15, America’s CPAs would like to remind you that the taxpayers that get working on their taxes early will make the filing process easier. Below are some of the things you might like to know about getting your taxes done, especially if you’re new at doing them:

First of all, you’re going to need to gather your W-2s and 1099s. When you get this paperwork, put them in a place where you won’t easily lose them, and in a place where you’ll remember because you can’t complete a tax return without them.

Remember that you should check on the rules to see if you’re required to file a federal tax return due to the amount of income that you earn. In other cases, it may benefit you to file a federal income tax return because you had too much income tax withheld.

You’ll have to collect your records. This means you have to round up all of your canceled checks, receipts, and various documents that support your current income. You will also need to gather your deductions and credits that you will be reporting or claiming on your tax return. Try and get your records in the best shape possible so that you’ll only be paying what you owe and nothing extra.

Keep in mind that you may have credits and deductions that may apply to you; you may not need to pay more tax than you need to. This includes the earned income tax credit, child tax credit, adoption credit, and so forth. It’s best to check with your local CPA or the IRS website for qualifications.



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Posted by Taxmaster - May 15, 2013 at 7:58 pm

Categories: Federal Tax, Income Tax, State Tax   Tags: , , , , , ,

Tax Season Tips: The Dos And Don’ts When You’re Filing


Welcome to Tax Season 2013. New rules, regulations and stipulations have added a steeper learning curve this year for filers. Don’t worry, we’re here to help. With internet services leading more and more people to file for themselves, some less obvious rules and warnings have been overlooked. Here are a few things you might want to ask your accountant.

Affordable Care Act

In order to fund the new Affordable Care Act, individuals with an income of more than $200,000 or married couples filing jointly with over $250,000 will be responsible for a 3.8% surcharge. Sure, this is aimed at higher-income families but the relatively low threshold will certainly affect married couples or middle class income filing jointly.

Social Security Wage Ceiling

One of the most talked about changes of this year’s tax law is the raising of the taxable wage ceiling to $113,00

0 to fund Social Security. There is no limit to the taxable wages for Medicare; however, an additional .9% will be assessed for individuals making more than $200,000.

Relief for Low-Income Workers

As part of the new 2013 tax laws, eligible low-income workers and families will reap the benefits of a relief in place to help ease their financial woes. The earned income tax credit is a refundable credit that reduces or eliminates tax paid. In other words, double check to see if you qualify and you might not have to pay a dime in income tax this year.

Higher Rates for Higher Incomes

For one thing, high-income filers will see an increase in their obligation – raising the rate from 35% to 39.5% for single citizens earning $400,000 or more and married couples earning over $450,000. Also, our 2% Social Security reduction has expired, meaning we now pay 6.2% of our income as opposed to the 4.2% from the past two years.


of your financial situation, these new tax laws will certainly alter your filing – either for better or for worse. Low income families might be able to take advantage of the earned income tax credit, while it seems high income individuals will be footing the bill to make up for it. Higher tax rates for Social Security, payroll and the Affordable Care Act will be hurting in the wallets of many Americans, and are reason to watch your return carefully. So if you are filing online, be smart. If you hire a personal accountant, ask the right questions. And most importantly, be sure to safeguard yourself against identity theft while you are sharing your vital personal information.

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Jason Sherman is a former accountant and enjoys writing about financial news and offers money advice to his readers.


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Posted by Taxmaster - March 7, 2013 at 6:52 pm

Categories: Federal Tax, Income Tax, State Tax   Tags: , , , ,

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