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Potential Tax Debt for Los Angeles Religious Center

The tax-exempt Kabbalah Centre and many of its charities is being investigated by the Internal Revenue Service for financial improprieties. Many of the charities are backed and supported by celebrities. Madonna had even replaced the CEO of one of the charities, Raising Malawi. The singer later moved the charity out of the Kabbalah Centre’s office after learning plans of building a girl’s school in Malawi were abandoned despite raising millions of dollars for that purpose. The former CFO has accused the Centre of financial improprieties and plans on coordinating with the IRS in bringing the group down. Several instances of tax fraud had been uncovered that could potentially bankrupt several directors due to tax debt and penalties. ( If you have incurred business tax debt, … Continue reading

Survey Finds Financial Stress of Employees is Decreased

According to a survey by workplace financial education provider Financial Finesse, roughly 34 percent of employees reported having high to overwhelming financial stress in 2009. Since then, the percentage has dropped significantly to 21 percent in the first quarter of 2011. Financial stress was reported as higher for woman than men. While 9 percent of women claimed to have overwhelming financial stress, merely 3 percent of men reported the same. Women, employees ages 30-44 and middle-income Americans making between $60,000 and $74,999 per year, are the key demographic group most vulnerable to having financial stress. Despite finances being cited as the number one cause for divorce, married employees reported less stress than single employees. Many times financial stress can stem from our IRS tax debts. … Continue reading

FAQ about the IRS Notice of Deficiency

If you received an IRS Notice of Deficiency, the following article outlines some frequently asked questions about what a ‘Notice of Deficiency’ is, what the letter states about your situation, and both how and when you should respond. Continue reading

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