About the Author Charles Corsello

Charlie Corsello, a graduate of Georgetown University, is a licensed enrolled agent who has been working in the tax resolution industry for over 10 years now. He is a previous owner of a tax resolution firm. Consequently, after opening a tax resolution firm, he became a tax professional, passing. Finally, Charlie regularly contributes by providing blog posts and tax articles.
October 3, 2019By: Charles Corsello

In September 2019, the Internal Revenue Service (IRS) released tax gap estimates for tax years 2011 through 2013. The numbers indicate that the gap has stayed the same as the previous tax years. However, the IRS will continue to pursue taxpayers who are not compliant. Here’s what you need to know.

February 28, 2012By: Charles Corsello

As you prepare your taxes, it becomes fairly evident that there are many different forms and schedules to fill out. Which forms you fill out depends on your financial situation, especially where you are getting your money.

February 13, 2012By: Charles Corsello

The current economy is changing the makeup of our households. With unemployment high, many are finding that they are supporting relatives and non-relatives alike by allowing them houseroom.

December 4, 2011By: Charles Corsello

Christie Brinkley reportedly owes $531,720 in back taxes on her $30 million Bridgehampton, NY mansion. The IRS filed a tax lien against the 57-year-old former supermodel on November 21st.

November 22, 2011By: Charles Corsello

It’s become almost a matter of course: If you are running for public office, you are expected to release your tax return each year. This is especially true if you are running for “higher” offices. Most mayoral candidates aren’t expected to release their tax returns, but if the candidate is running for a federal position (Congress, President), many citizens want to see what their finances look like.

October 18, 2011By: Charles Corsello

Sometimes, travel is necessary in order to improve your business. The good news is that the IRS allows you to deduct many of the expenses that come with your business-related travel.

October 11, 2011By: Charles Corsello

As you complete your tax planning for this year (and continue to plan for the future), it is important to take the time to consider the many advantages associated with utilizing a Health Savings Account (HSA). If you are looking for additional ways to lower your taxable income through a tax-advantaged savings account, an HSA might be just the thing you need.

October 11, 2011By: Charles Corsello

Home foreclosures are still a major problem around the country with foreclosure starts jumping nearly 20% from July through August according to a report by Lender Processing Services. If losing a home is not one of the worst things that can happen, to add insult to injury, a taxpayer may owe Federal and/or State taxes as a result of the foreclosure. For the sake of this article, the focus will be on Federal taxes, and there are two possible tax consequences that need to be considered:

September 22, 2011By: Charles Corsello

Stock options are a common way to compensate employees or retain employees.  A stock option is a benefit given to an employee whereby the employee can purchase a certain number of shares of their company’s stock in a specific time frame at an established price. Stock options often cost a business little to issue but are a great benefit for an employee if the company is successful and the stock’s value increases. The equity gained from owning stock options can be far more valuable to the employee than what the equivalent cash would have been. However, there are tax implications involved, which vary depending on whether the company issues non-qualified or qualified stock options.