In this challenging economy, more taxpayers are going to need tax help and will be hoping to pay their tax debt by negotiating payment plans with the IRS to pay their liabilities over time.
It is important to note that the IRS continues to add penalties and interest while you are making monthly payments. This may cause you to be paying what you consider a large monthly payment to the IRS
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Tax resolution specialists Michael Rozbruch and Brian Compton at Mind Your Own Business 2009, originally uploaded by taxresolution.com.
Brian and I attended Finance Day 2009 last weekend. The All-You-Need-To-Know-About-Your-Money Event was a big success. I conducted several seminars on strategies for alleviating tax debt. I was also featured on a panel with KFI’s Bill Handel, host of “Handel on the Law.”
But the best moment of the whole event by far, was
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If you are in a position when you think you can settle your tax debt over time, you should consider negotiating an Installment Agreement with the IRS. If you qualify for this program, the IRS allows you to pay your debt in small installments that allow you to chip away at your tax liabilities without leaving you so broke you can’t live your life. You can think of it like
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An Installment Agreement is a payment arrangement whereby the government allows a taxpayer to pay liabilities over time. Once a payment plan is established, the IRS will not take enforced collection action, including the levy of bank accounts or wages, as long as the taxpayer remains current with all filing and payment obligations. However, interest and penalties would continue to accrue until the outstanding balance is satisfied. Additionally, a tax
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Although the IRS is pledging to be kinder and gentler to taxpayers in these challenging times, it is still important to meet your installment payment requirements. However, the IRS has announced that they will “try” to be more flexible with taxpayers who miss an installment payment.
One way recession-burdened Americans can settle back taxes is by negotiating an Installment Agreement with the government that that allows payment of liabilities over time.
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An Ohio gambler will spend the next 18 months in prison after pleading guilty to tax evasion charges.
Paul E. Sabatino, of Streetboro, Ohio, who pleaded guilty to the charge, was also ordered to perform 150 hours of community service and continue treatment for gambling addiction.
From 2002 to 2005, Sabatino embezzled approximately $1.7 million from a client of the CPA firm where he worked as an accountant. During that period, Sabatino
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A Texas woman faces up to three years in prison after pleading guilty to tax charges.
Donna J. Nelson, of Sulphur Springs, Texas, pleaded guilty to false income tax reporting. According to information presented in court, Nelson admitted to understating her 2006 income by $136,100 on her Form 1040 U.S. Income Tax return. Other court documents also showed she had similarly underreported earnings for tax years 2003 through 2007, totaling $479,781.36.�
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Check out my small business tax tips on AccountingSolver.com: Don’t Let Payroll Taxes Sink Your Small Business.
There are plenty of ways to bring down the wrath of the IRS, but failing to file and pay payroll taxes is one of the swiftest and most efficient ways to close your doors. Trouble with payroll taxes can be the downfall of otherwise successful small businesses. I’ve been picking the brain of tax
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Today Bernie Madoff’s client list was made public revealing even more high-profile individuals defrauded by the $50 billion Ponzi scheme. Among the names disclosed today are John Malkovich, Barbara Bach (Ringo Starr’s wife), Kevin Bacon and Dodgers great Sandy Koufax.
What these fraud victims need to know is that they can recoup 30-40% of their losses if they take advantage of Internal Revenue Code Section 165. So if you’ve paid taxes
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Just a quick note that the Small Business Teleseminar “Standing Up to the IRS Un-Armed Can and Will Cost You” scheduled for Feb. 18 has been cancelled.
It has been rescheduled for Wednesday, May 13.

It is a known fact that 1 in 6 (or about 16%) of the taxpaying public have tax problems.  Given the current state of the economy, I expect that rate to increase significantly.  It’s not surprising that high profile people have tax problems too. As a matter of fact, it is not uncommon for high income earners to have issues with the IRS.
Unfortunately, the Obama Administration may be sending the
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In Wilmington, N.C., four women were sentenced for their involvement in a tax fraud scheme.
Pamela D. Evans, 33, received 15 months in prison; Bertha Battle, 28, received 15 months in prison; Tasha Battle, 28, received 180 days of home confinement with electronic monitoring; and Gwendolyn P. Evans, 49, received one month in prison and up to 150 days of home confinement with electronic monitoring.
All four pleaded guilty to conspiring to
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Join me and KFI’s Bill Handel on Saturday, February 7 for Finance Day: Mind Your Own Business 2009 at Orange Coast College. This event is FREE and open to the public!
Finance Day 2009 at Orange Coast College (2701 Fairview Rd., Costa Mesa, CA)
Saturday, February 7,  2009 /9:00am to 2:00pm
Bill Handel will be on hand to provide marginal legal advice during a LIVE broadcast of his show Handel on the
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Thomas B. Parker, 64, and his wife Margaret A. Parker, 65, were each found guilty of seven counts of filing false tax returns and five counts of failure to file a tax return following a two-day jury trial. The couple caused a potential tax loss to the government of $106,564.
According to court records, the Parkers filed amended U.S. Individual Income Tax Returns for 1993, 1995, 1996, 1997, 1998, 1999 and
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