Archive for December, 2008

How to Make Deals with the IRS on Taxes Owed – Reduce Tax Debt Including Interest and Penalties!

Wednesday, December 31st, 2008

I recently blogged about offer in compromise settlements and my guest appearance as the tax expert on Strictly Business on BlogTalkRadio.com earlier this month. In addition to sharing some insider secrets of tax relief with business owners and individuals struggling to overcome their tax burdens, I also talked to host Anna Banks about how to end audits quickly and how to make a deal with the IRS on
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Overcoming Tax Burdens – Insider Tips For Qualifying for an Offer in Compromise

Tuesday, December 30th, 2008

Far too many business owners and individuals are looking over their shoulders in fear of the IRS. I appeared as the guest tax expert on Strictly Business on BlogTalkRadio.com earlier this month to share some insider secrets of tax relief with business owners and individuals struggling to overcome their tax burdens.
I discussed some of the tax resolution strategies we employ with the program’s host Anna D. Banks, a business coach
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Thank You to all Who Sought Tax Help in 2008 from Tax Resolution!

Monday, December 29th, 2008

Thanks to YOU, the word is spreading.  Thanks to my clients and friends who graciously referred me to their friends, clients and relatives this past year!  I enjoy building my business based on the positive comments and referrals from people just like you.  An especially warm thank you to Harvey Dulgatch and Stuart Goodman.
I just couldn’t do it without you!
I’d Like To Hear From YOU!
Whether you’d like to avoid the IRS,
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Falling Tax Revenues May Make It Difficult for Madoff Victims to Recover Their Losses

Monday, December 29th, 2008

I recently blogged about how victims of investment fraud can seek relief from the IRS and today I came across an interesting story in tax-news.com about Madoff Investors turning to Uncle Sam for a Bailout.
The article says:
Given the current economic climate and the likelihood of falling tax revenues in the year ahead, the IRS, which could face tax revenue losses in the billions of dollars (as much as USD17 billion
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Businessman Pleads Guilty to Tax Evasion

Sunday, December 28th, 2008

Stephen R. Savage, 51, of Milford, Mass., pleaded guilty to three counts of income tax evasion. Prosecutors told the court government evidence showed Savage was the owner of a construction business when he subscribed to several services to hide his income and expenses from the IRS. Savage filed a false federal tax return for calendar year 2002 and failed to file tax returns for 2004 and 2005. He faces up
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Proprietors of Chinese Restaurant Receive Probation for Tax Evasion Charges

Saturday, December 27th, 2008

Californians Zhong Lin, 39; Man Chau Cheng, 37; and Zhong’s sister, Yan Lin Fong, 36, were each sentenced to one year probation for conspiracy to defraud the United States with tax evasion. Zhong was also ordered to pay $140,367 in income taxes owed from tax years 1995 to 2002. The three operated the restaurant Chinatown Buffet in Louisville, Ky.

Colorado Man Gets 12 Months for Preparing False Tax Returns

Friday, December 26th, 2008

Kennedy Oduro, 32, of Denver, Colo., was sentenced to 12 months and one day in prison and 12 months of supervised release for aiding in the preparation of false tax returns. He was also ordered to pay $21,000 in restitution to the IRS.
Oduro was charged with willfully aiding and assisting in the preparation of false federal income tax returns for the years 2003 and 2004.
He pleaded guilty to willfully aiding
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Tax Resolution Services Client Resolves $66,000 Tax Bill

Friday, December 26th, 2008

As the year is drawing to a close, I’d like to thank all our amazing clients who have come to us so we can help them solve their IRS problems. In the 11 years that I have been running Tax Resolution Services, I have helped save clients well in excess of $35 million while helping them turn their financial lives around.
This client testimonial comes from Bill, who was really sick
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Angry Taxpayer Attacks IRS Officials

Thursday, December 25th, 2008

One Alabama man thought a good defense against the IRS was a good offense.
In the end, it could cost him dearly.                
Ernest Milton Barnett, 49, of Birmingham, Ala., has been indicted for assaulting a federal employee with a deadly weapon and damaging government property.
The indictment alleges Barnett assaulted employees of the IRS and Small Business Administration by ramming his vehicle twice into the side of a government building that houses both
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Overall IRS Audit Collections Fall in 2008, While Audit Rates Increase for Large Corporations

Wednesday, December 24th, 2008

I came across an article that talks about how IRS collections from audits and other reviews fell this year for the first time in a decade as the agency shifted resources to ensure that people got their economic stimulus checks.
The decline can also be attributed to the fact that 2007 was a record-breaking enforcement year. So when comparing 2008 with 2006 and earlier years, you will probably still find a
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IRS Plan To Help Taxpayers Refinance Their Homes Offers Little Relief For Distressed Homeowners

Tuesday, December 23rd, 2008

The IRS recently announced a plan that will “try” to make it easier for homeowners in financial straits to refinance or sell their homes. The program supposedly focuses on people who ordinarily pay their taxes in full but “because of these extraordinary times are getting behind on their tax payments.”
IRS Commissioner Doug Shulman said that plan would speed up a process where financially distressed homeowners may request that a federal
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Self-Proclaimed Priest Sentenced to 54 Months for Tax Fraud

Tuesday, December 23rd, 2008

Self-proclaimed priest Earl R. Wolfe was sentenced to 54 months in prison on charges of tax fraud and was ordered to pay $224,869 in restitution. In September, Wolfe was found guilty by a Fort Lauderdale jury of conspiring to defraud the United States and filing false tax returns.
According to court records, from 1999 to 2004, Wolfe reported $600 of income on tax returns he filed with the IRS. However, evidence
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IRS Question Corner … Offer in Compromise or Installment Agreement?

Monday, December 22nd, 2008

Question: Like a lot of people these days, I have tax troubles. I hear you talk a lot about the Offer in Compromise and the Installment Agreement. How do I know which one is best for me and why?
Answer:  The truth is, it’s impossible to answer that question without going over in detail your current financial situation. For that reason, the first thing you should do is consult a qualified
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Reducing Your IRS Bill – Two-Part Interview with Tax Tips for Small Businesses and Individuals

Monday, December 22nd, 2008

Last week I appeared as a guest tax expert on New Mexico’s KSVP with Mike Jaxson. We talked about important year-end tax tips for reducing your IRS tax bill.
Check out the videos below to find out more about:

Self-employment deductions including business vehicles, equipment and furniture expenses
Tips on accelerating deductions, like paying your 2009 property taxes and estimated tax payments before the end of the year so you can take those
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Tax Resolution Client of the Month: State Tax Debt Significantly Reduced

Sunday, December 21st, 2008

Every month I choose a very special Client Of The Month.  It’s my way of acknowledging good friends and saying “thanks” to those who support me and my expert team of tax attorneys, CPAs and enrolled agents.  This month’s Client Of The Month is Ronald D.
Ronald’s debt to the California Franchise Tax Board was over $27K. After several months of negotiations, we were able to settle his tax debt for
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