Tax Advisor Barry G. Fowler, Gives Good Reasons to Guard Private Personal and Financial Information
Barry G. Fowler, EA, leading expert in tax resolution issues and CEO of Taxation Solutions turns the recent, alleged IRS hardware outage into a strong argument for doing everything to keep personal and financial information private.
Houston, TX – March 24, 2016 – Barry G. Fowler, CEO of Taxation Solutions, posted a new article on his website entitled “Violation, Humiliation, Litigation and Taxation,” in which Mr. Fowler reviews the tax repercussions of the Erin Andrews case.
Fowler begins with an undeniable fact, writing, “The Erin Andrews case has made headline news for months.” He continues adding, “As the case draws nearer to a close with double-digit million dollar settlement figures being bandied about, taxpayers can learn a few lessons about how in most litigation settlements the IRS gets the biggest cut of all. Between the attorneys’ fees and the IRS tax bill, Ms. Andrews is likely to see little financial gain for the violation of her privacy and for the humiliation she suffered.”
According to Fowler, “One of the most important aspects in this type of lawsuit where damages are being sought is the type of injuries incurred. To be tax free, the injuries must be physical. I’m talking broken bones and other visible damages.”
“Going against the IRS,” states Fowler, “is never an easy thing to do no matter how public your case, no matter how severe the emotional damage. If you don’t incur physical injuries, you have to pay taxes on the settlement.” Fowler adds, ”I go up against the IRS pretty much on a daily basis fighting for my clients in tax cases. I know the ins and outs in my area of expertise and know just how far to push without inciting the IRS to push back. It’s a fine line.”
The entire article can be read at http://www.taxationsolutions.net/violation-humiliation-litigation-and-taxation/
About Barry G. Fowler, EA
Barry G. Fowler founded Taxation Solutions out of a genuine concern for the IRS issues his clients face, many of whom are self-employed, contract employees, or entrepreneurs. For his contributions to his profession and expertise in tax resolution and financial planning, Fowler has been featured as one of America’s Trendsetters on CBS and Yahoo, and as a Premier Expert in Inc. Magazine. He has been instrumental in helping hundreds of people resolve complex tax issues with the IRS.
Fowler is licensed to represent taxpayers before the Internal Revenue Service, and is a longstanding member of several tax industry professional organizations: NAEA, NATP, TSEA, ASTPS.