Robert C Olivieri, Jr. - Call Bob now at 215.550.3636 for Solutions

Fraudulent Tax Return Preparer Sentenced to Prison

Rodrick Williams, a former tax return preparer from District Heights, Md., was sentenced to 24 months in prison for preparing false tax returns for customers, the Justice Department and Internal Revenue Service (IRS) announced. In May 2008, Williams pleaded guilty to conspiracy to impede the IRS. Williams’s co-defendant, DaJuan Jackson was convicted in November 2008, by a Greenbelt, Md., jury of eight counts of aiding and assisting in the preparation and presentation of false tax returns. According to the evidence introduced in the plea agreement and at trial, Williams and Jackson, both currently of Atlanta, prepared tax returns at a branch office of American Tax Associates Inc. (ATA), located in a Run ‘N Shoot gym in District Heights. Williams and Jackson were the two main preparers in the branch office, which was responsible for preparing almost 1000 tax returns per year at the height of its business in 2004. Williams cooperated with the government, and at trial, he testified that he and Jackson devised a scheme to place false information on the tax returns of ATA clients. In particular, Williams and Jackson falsified itemized deductions and business expenses so clients could fraudulently obtain bigger refunds. Jackson was sentenced to 51 months in prison Contact the accounting, tax and financial consulting firm of Robert C Olivieri, Jr. PC if you still have any other questions or are looking to have your personal, corporate, payroll or sales tax returns prepared.  Take advantage of our 30 plus years of Accounting, Tax and Financial Consulting experience to reduce your IRS liabilities and show you our provocative Retirement Strategies.  Our retirement suggestions are not stockbroker friendly because we are not in the business of selling stocks or mutual funds.  Feel free to call Bob, almost anytime, at 215.943.3296 for any questions you may have.  Is it not time you dealt with Accounting and Tax Professionals that are available at your convenience?

You can not avoid having your property foreclosed on by transferring it to a friend or relative. If you don’t receive an amount substantially equal to the fair market value of the property, give or take 10%, the IRS (or other creditor) can still put a lien on the property. That’s what happened in Denise Cook (2003-1 USTC 50,242; U.S. District Court, East.
Dist. Calif.). The Court held that the IRS could foreclose on property that was transferred to another part for a nominal amount.

Contact the Accounting, Tax and Business Consulting firm of  Robert C Olivieri, Jr. PC with any IRS problems, tax liens, tax levies, tax notices or if you are behind on filing any individual, business or payroll tax returns.  We have over 30 years experience in dealing with various governmental agencies. 

We have CPA’s on staff to handle your most challenging tax situations.  We have flexible hours and are available most weeknights and weekends.  Do not hesitate!  You may be entitled to a tax refund.   Call Bob, almost anytime, at 215.943.3296 for resolution of your IRS tax matters. 

Remember the saying “slow and steady wins the race”?

Keep in mind, “Stock Brokers” are not “Financial Planners” and “Financial Planners” are “Stock Brokers”.
Has the stock broker you use profited your portfolio during the calender year of 2008?  If not, why not?  Ask them why not.  Their job is to grow your portfolio, not lose you “any” money.

It might be time for a change.

Contact the Retirement Consulting and Strategic Specialists at Robert C Olivieri, Jr. PC if you have any questions or are looking to have your retirement portfolio analyzed by a “non stock broker”.  We are not in the business to sell you products.  You need to find someone you are able to trust and we are the professionals that will guide you and your family to a fruitful retirement. 

Take advantage of our 30 plus years of Strategic Guidance in Retirement and Financial Planning using investments that have “Guaranteed Returns”, “No Risk” and better value for your investment and retirement dollar. 

Our unique retirement suggestions and strategies are not stockbroker or insurance agent friendly because, again, we are not in the business of selling stocks, mutual funds, annuities or life insurance.  Feel free to call Bob, almost anytime, at 215.943.3296 for any questions you may have. 

Is it not time you dealt with Retirement and Investment Specialists that are able to pave your way to wealth and freedom without the sleepless night and knots in your stomach when the stock market has it moments of volatility?

Did you know you may be able to file for a “corporate” tax refund if your business operates as a Subchapter S Corporation and the business paid you a salary and had a loss for the tax year?   And, did you also know that you may go back, three years in time, to file for those refunds? 

Call Bob, almost anytime, at 215.943.3296, with the Accounting, Tax and Business Consulting firm of Robert C Olivieri, Jr. PC, with your questions and concerns and let us handle fighting the IRS!  We will minimize your IRS tax liability and file for any refunds legally due your corporations using our aggressive techniques not know by most accountants.

The IRS changed the amount of the recovery rebate that was claimed on the tax return because the amount entered was computed incorrectly.

The IRS computed the recovery rebate credit.

For one or more of the dependents, the last name did not match the IRS records or the records provided by the Social Security Administration.

EIC was figured or entered incorrectly.

All or part of the earned income credit that was claimed was unallowed. For one or more of the dependents, the SSN was missing or the last name did not match the IRS records or the records of the Social Security Administration.

 

Contact the accounting, tax and financial consulting firm of Robert C Olivieri, Jr. PC if you still have any other questions or are looking to have your personal, corporate, payroll or sales tax returns prepared.  Take advantage of our 30 plus years of Accounting, Tax and Financial Consulting experience to reduce your IRS liabilities and show you our provocative Retirement Strategies.  Our retirement suggestions are not stockbroker friendly because we are not in the business of selling stocks or mutual funds.  Feel free to call Bob, almost anytime, at 215.943.3296 for any questions you may have.  Is it not time you dealt with Accounting and Tax Professionals that are available at your convenience?

The IRS is using a multi-prong approach to reduce erroneous Earned Income Tax Credit (EITC)claims.

Agents and criminal investigators will visit “paid preparers” identified as filing highly questionable EITC claims to discuss remedies, responsibilities and possible civil or criminal penalties. Agents also will conduct traditional onsite compliance reviews of EITC due diligence records.

The first IRS acknowledgements have been available as of January 18, 2009.

IRS Rule 6695 regarding Earned Income Credit due diligence knowledge requirements is effective January 1, 2009, and institutes the following requirements:

- The tax return preparer must make reasonable inquiries if a reasonable and well informed tax preparer knowledgeable in the law would conclude that the information furnished to the tax return preparer appears incorrect.

- The tax return preparer must also contemporaneously (simultaneously, concurrently) document the reasonable inquiries made and the responses to these inquiries.

If you qualify for an Earned Income Credit, use a professional, paid preparer that is open all year round, does not “do” tax returns on the side and has a real office.  If the tax preparer does not sign his name on the return, you may be using a suspicious individual not familiar with the IRS laws.

Contact the accounting, tax and financial consulting firm of Robert C Olivieri, Jr. PC if you still have any other questions or are looking to have your personal, corporate, payroll or sales tax returns prepared.  Take advantage of our 30 plus years of Accounting, Tax and Financial Consulting experience to reduce your IRS liabilities and show you our provocative Retirement Strategies.  Our retirement suggestions are not stockbroker friendly because we are not in the business of selling stocks or mutual funds.  Feel free to call Bob, almost anytime, at 215.943.3296 for any questions you may have.  Is it not time you dealt with Accounting and Tax Professionals that are available at your convenience?

 

Investment advice will be more accessible for millions of Americans in 401k and 403b type plans and individual retirement accounts (IRAs). Access to professional investment advice is particularly important now for workers as they manage their 401k and 403b plans and IRAs in changing and volatile financial markets since most of us know not what to do or in what type of securities to invest now that portfolios are down between 20% and 40% since October 2007.

The PPA amended ERISA by adding a new prohibited transaction exemption that allows greater flexibility for participants of 401k and 403b plans and IRAs to obtain investment advice. One of the ways in which investment advice may be given under the exemption is through the use of a computer model certified as unbiased. The other way is through an adviser compensated on a “level-fee” basis. Several other requirements also must be satisfied, including disclosure of fees the adviser is to receive.

Millions of American workers are responsible for managing their 401k, 403b and IRA accounts. The department took extraordinary steps to engage a broad spectrum of participants, employers, plan fiduciaries and others throughout the rulemaking process. The final rule expands access to investment advice without compromising the critical protections for plan participants and beneficiaries.

Remember, a 401k, 403b or an IRA is not a “pension plan”; it is “your own money”.  Times are not like the old days when dad worked 30 years for a big company and received a “pension” after he retired.  We all now have to fend for ourselves when it comes to our investment dollars. 

Contact the Retirement Consulting and Strategic Specialists at Robert C Olivieri, Jr. PC if you have any questions or are looking to have your retirement portfolio analyzed by a “non stock broker”.  We are not in the business to sell you products.  You need to find someone you are able to trust and we are the professionals that will guide you and your family to a fruitful retirement.  Take advantage of our 30 plus years of Strategic Guidance in Retirement and Financial Planning using investments that have “Guaranteed Returns”, “No Risk” and better value for your investment and retirement dollar.  Our unique retirement suggestions and strategies are not stockbroker or insurance agent friendly because, again, we are not in the business of selling stocks, mutual funds, annuities or life insurance.  Feel free to call Bob, almost anytime, at 215.943.3296 for any questions you may have.  Is it not time you dealt with Retirement and Investment Specialists that are able to pave your way to wealth and freedom without the sleepless night and knots in your stomach when the stock market has it moments of volatility?

                             

Our firm, experienced for over 30 years in income tax preparation, encourages the more than 81 million taxpayers who hire professional assistance each year to make an appointment now with a CPA tax preparer before their schedules fill up. CPAs are business people in your community who will be there for you, and like our firm, all year round with hours after 500pm and on the weekends.  You do not want a tax preparer who closes shop on April 15 and is nowhere to be found in case you have a question or receive a tax notice in the mail from the IRS. Tax season is underway. Most taxpayers received their W2 forms from employers telling them how much money they earned in 2008 and the April 15 filing deadline is just nine weeks away, unless you file an extension which gives you until October 15 to file your personal income tax returns. To be licensed by the states in which they practice, CPAs must pass a rigorous professional exam after they finish their college education.  After licensing, mandatory continuing professional education requirements make sure that CPAs stay current with regulatory and legal changes.  In addition, CPA’s  must adhere to strict ethical standards, and additional rules that apply to CPAs who are tax practitioners. Remember and be aware that storefront, basement and garage office “tax form preparers” may be of little help if your return is questioned. If the IRS raises a question about your return, only CPAs, attorneys and enrolled agents are authorized to represent taxpayers before the IRS. CPAs are the best trained and most skilled professionals that taxpayers can hire.  In addition, they are the most trusted professional in the business world. To find a CPA in your community, taxpayers can perform searches such as “tax preparers bensalem” or “income tax preparers langhorne” or “tax return preparers trenton”.  You also want a professional that is open all year round and not just during the tax filing season.  Lastly, remember, you only get what you pay for.  The non licensed tax preparers purchase cheap, inexpensive software, most do not sign the returns they prepare and are very aggressive with deductions for which the taxpayer is entitled.  You should be careful when your tax refund is higher than normal and your garage preparer says “do not worry about it”.  That is the time to worry! Contact the accounting, tax and financial consulting firm of Robert C Olivieri, Jr. PC if you still have any other questions or are looking to have your personal, corporate, payroll or sales tax returns prepared.  Take advantage of our 30 plus years of Accounting, Tax and Financial Consulting experience to reduce your IRS liabilities and show you our provocative Retirement Strategies.  Our retirement suggestions are not stockbroker friendly because we are not in the business of selling stocks or mutual funds.  Feel free to call Bob, almost anytime, at 215.943.3296 for any questions you may have.  Is it not time you dealt with Accounting and Tax Professionals that are available at your convenience?

Economic stimulus payments are not taxable, and they are not reported on your 2008 individual income tax returns. However, the stimulus payment does affect whether a taxpayer can claim the Recovery Rebate Credit and how much credit you may receive.  The credit is figured like last year’s economic stimulus payment except that the amounts are based on tax year 2008 instead of 2007.  A taxpayer may qualify for the recovery rebate credit if, for example, you did not receive an economicstimulus payment or had a child in 2008.  In most cases, the IRS will figure the credit.

Contact the accounting, tax and financial consulting firm of Robert C Olivieri, Jr. PC if you still have any other questions or are looking to have your personal, corporate, payroll or sales tax returns prepared.  Take advantage of our 30 plus years of Accounting, Tax and Financial Consulting experience to reduce your IRS liabilities and show you our provocative Retirement Strategies.  Our retirement suggestions are not stockbroker friendly because we are not in the business of selling stocks or mutual funds.  Feel free to call Bob, almost anytime, at 215.943.3296 for any questions you may have.  Is it not time you dealt with Accounting and Tax Professionals that are available at your convenience?

Those who bought a main home recently or are considering buying one may qualify for the first-time homebuyer credit. Normally, a taxpayer qualifies if they did not own a primary residence during the prior three years. This unique credit, of up to $7,500, works much like a 15 year interest free loan. It is available for a limited time only; on homes purchased from April 9, 2008 to June 30, 2009.  It can be claimed on the new IRS Form 5405 and is repaid each year as an additional tax.  Income limits and other special rules apply.

Contact the accounting, tax and financial consulting firm of Robert C Olivieri, Jr. PC if you have any questions or are looking to have your personal, corporate, payroll or sales tax returns prepared.  Take advantage of our 30 plus years of Accounting, Tax and Financial Consulting experience to reduce your IRS liabilities and show you our provocative Retirement Strategies.  Our retirement suggestions are not stockbroker friendly because we are not in the business of selling stocks or mutual funds.  Feel free to call Bob, almost anytime, at 215.943.3296 for any questions you may have.  Is it not time you dealt with Accounting and Tax Professionals that are available at your convenience?