Archive for January, 2009

Know How To Select an Ethical and Professional Tax Resolution Firm – With or Without the Help of the Better Business Bureau

Saturday, January 31st, 2009

I was so fired up after blogging about the BBB’s skewed ratings system and David Lazarus’ Los Angeles Times article titled Better Business Bureau grades companies on a peculiar curve, that I decided to write Mr. Lazarus to let him know about our experiences with the BBB.
I’ve already mentioned the fatal flaw in the BBB ratings equation that does NOT take into account a business’s size relative to the number
[Read More]

Deciding Who to do Business With? Think Again if You’re Counting on the Better Business Bureau to Guide You

Friday, January 30th, 2009

I came across an interesting article in the Los Angeles Times about how the Better Business Bureau grades companies on a peculiar curve. It calls attention to the fact that paying the BBB to be listed as an accredited business appears to have instant benefits in the agency’s ratings.
So an accredited business automatically receives a half-grade boost to its rating. A B-minus business, in other words, will become a B.
And
[Read More]

What Fraud Victims Need to Know About Claiming Theft Loss Deductions under Section 165: Be Prepared to be Audited

Friday, January 30th, 2009

I was recently asked to write an article for CPEthink.com, an organization dedicated to providing industry-leading online Continuing Professional Education (CPE) and Professional Development courses and exams for CPAs, licensed professionals, general practitioners, and individuals.
My article discussed how victims of investment fraud are turning to Uncle Sam for relief  – but they should be ready to face increased IRS scrutiny. I’ve blogged before about how Section 165 of the IRS
[Read More]

Tele-Seminar Featuring Insider Secrets of Tax Relief for Small Business Owners on February 18, 2009

Friday, January 30th, 2009

NOTE: TELE-SEMINAR SCHEDULED FOR FEB. 18 HAS BEEN RESCHEDULED AND WILL NOW TAKE PLACE ON WED, MAY 13.

I’ve blogged about this before, but it’s important to mention it again: Small business owners are the largest source of uncollected taxes.
During this economic downturn, we are also seeing lots of people who are laid off or are no longer employed, going out on there own. They’re reinventing themselves, setting up home-based businesses,
[Read More]

Silver Lining for Recession Burdened Americans – This May Be the Perfect Time to Settle Your IRS Debt

Thursday, January 29th, 2009

I was recently interviewed for This Week In Chaves County, which airs Sunday at 7:00 a.m. on KEND 106.5 FM (Roswell, NM). I talked about opportunities for recession burdened Americans to settle IRS debt.
Please tune in – or check out the video below for a preview of the interview. Resolve your back taxes and say goodbye to wage garnishment, bank levies, and IRS penalties!

If you are in trouble with the
[Read More]

Livestock Sales Mean Tax Trouble in Nebraska

Thursday, January 29th, 2009

Melvin Buckley, 77, of Gothenburg, Neb., was fined $30,000 and sentenced to five years of probation for filing a false income tax return for the year 2001. Buckley was charged with filing a false income tax return for 2001 by reporting sales of livestock from his ranch business which he reported to be $191,441 when, in fact, the sales were determined to be approximately $393,142.

Penalty Abatement Helps Taxpayer Resolve Back Taxes

Wednesday, January 28th, 2009

It’s always great to hear from satisfied clients after we’ve helped them resolve their tax problems. We recently helped a taxpayer in Southern California gain his financial livelihood back. He was sick and unable to pay his back taxes. We were able to negotiate a penalty abatement on his behalf.
Peace of mind. Shelly has been outstanding and very helpful. I have Stage 4 Pancreatic Cancer and Shelly has always had
[Read More]

Why the IRS Picks on Small Businesses and How to Avoid Triggering an Audit

Tuesday, January 27th, 2009

I was recently interviewed by Business Pundit blogger Lela Davidson. She asked me lots of great questions about small business taxes and how to avoid being an IRS target. I provided her with insight into important tax issues facing new businesses and how to avoid the big mistakes that many small business owners make.
There are many things small businesses can do to avoid getting audited. But if you still find
[Read More]

Tax Resolution Client of the Month

Tuesday, January 27th, 2009

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 business with referrals, word of mouth and repeat business.
This month’s Client Of The Month is Merlinda M.
When Merlinda contacted our firm, she owed the IRS over $85K. Our negotiations resulted in the IRS accepting a little over $2K,  via the federal government’s Offer
[Read More]

We’ve Expanded to Help More Taxpayers Resolve Their IRS Tax Problems!

Monday, January 26th, 2009

Just wanted to let everyone know that we’ve recently expanded to help even more Americans seek tax relief!
It’s very exciting – we’ve just finalized lease negotiations for 11,000 square feet of commercial office space just north of Los Angeles, at our headquarters in Encino, California. Our company now boasts more than 50 legal and tax specialists, and our licensed professional staff consists of 6 Tax Attorneys, 4 CPAs and 2
[Read More]

Helping the Average Citizen Do Battle with the IRS

Monday, January 26th, 2009

Just had to share this great note that I recently received from a client.
Douglas T., of Tioga, Louisiana says:
TRS is a wonderful organization that is prepared to help the average citizen do battle with the IRS. The result I got from TRS was no less than a small miracle. After having the IRS threaten me time and time again, and then to finally have someone on my side was just
[Read More]

In Ailing Economy, More Taxpayers Are Likely to Qualify for Offer in Compromise

Sunday, January 25th, 2009

Faced with overwhelming tax debt, more Americans than ever will be hoping to qualify for the IRS Offer in Compromise (OIC) program and save thousands of dollars in taxes, penalties and interest.
In 2007, approximately 46,000 offers were submitted to the IRS nationally and only 12,000 were accepted. This year, there will be more offers submitted this year, as well as a higher IRS acceptance rate due to the state of
[Read More]

Feds: Ohio Doc Tried to Conceal $950,000 in Tax Evasion Case

Saturday, January 24th, 2009

An Ohio physician has been charged with trying to conceal more than $950,000 in income. A federal grand jury indicted Dr. Dominic Joseph Maga, 60, of Dayton, charging him with tax evasion and willful failure to file income tax returns on his taxable income of more than $220,000 per year for the past four years.
Maga is an emergency room doctor employed at Grandview Medical Center and Southview Hospital, both located
[Read More]

Last-Minute Tax Saving Tips – New IRS Changes Could Save You Money

Friday, January 23rd, 2009

I’ve blogged about ways to save on your taxes in 2008.  But is there anything you can do to trim last year’s IRS bill now that 2009 is here?
The following tax saving tips for 2008 include a second go at the economic stimulus rebates, new property tax deductions, and new personal loss casualty write offs.
If you are a new home owner, someone who missed out on the last round of
[Read More]

How Will FICA Affect Your Paycheck?

Thursday, January 22nd, 2009

I’ve blogged before on President Obama’s plan to raise income taxes on Americans making more than $250,000 a year.
But something that has not been in the spotlight quite as much is Obama’s proposal to raise the cap on the Federal Insurance Contributions Act (FICA). FICA is a tax that funds Social Security and Medicare.
Brian Compton, my associate and the President of Tax Resolution Services, was recently interviewed by Craig Clough
[Read More]