Archive for October, 2009

Democrats Offer Bill to Prevent International Tax Evasion–Taxpayers Can No Longer Use Foreign Bank Accounts to “Hide” Income

Friday, October 30th, 2009

Earlier this week, Democrats offered a bill that will strengthen the IRS’s ability to crack down on tax cheats who “hide” their full income by using foreign bank accounts.
Following the latest UBS deal that brought 7,500 Americans forward who had previously concealed their foreign bank accounts from the IRS, this new bill “would impose new reporting requirements on foreign financial institutions doing business in the United States, and on American
[Read More]

TRS Files: Innocent Spouse with IRS Problems Can Finally Sleep at Night!

Friday, October 30th, 2009

This is a story I wanted to share with you because the guy featured in this video, Gib, discovered that he was going to owe the IRS more than 35,000 dollars in back taxes, interest, and penalties.  To hear how Gib was finally able to sleep at night because of a provision in the tax code called Innocent Spouse, watch the video from TRS Files now!
Gib was truly innocent of
[Read More]

Got IRS Problems, IRS Payment Plan Questions, IRS Audit Concerns? Tax Resolution Services Wants to Hear from You!

Friday, October 30th, 2009

Whether you’d like to avoid the IRS, contact the IRS, settle with the IRS or just want to refer a friend, relative or client, I’d love to hear from you. I would be happy to provide you or that special person you refer a free no-obligation confidential tax consultation to explain every option available to solve IRS problems.   Tax relief client testimonials show some of the tax clients we have
[Read More]

IRS Tax Debt Relief News-The TRS Files Offers Hope to Taxpayers Who Owe the IRS

Thursday, October 29th, 2009

Tax problems are tough to deal with–especially when the economy is not looking good. While it may be difficult to talk about your tax problems, it’s important for you to know that there are many taxpayers just like you who have resolved their overwhelming IRS debt by seeking professional tax help.
There are many reasons why taxpayers procrastinate on resolving their tax problems. Oftentimes, it can be easy to get paralyzed
[Read More]

IRS Heightens Scrutiny of the Wealthy – High Incomers Can Expect Tougher Tax Auditing Strategies

Thursday, October 29th, 2009

While the IRS is still busy sifting through some 7,500 names of Americans who disclosed their foreign bank accounts before the amnesty deadline earlier this month, Uncle Sam is already focusing its resources on catching other wealthy people who may have been evading taxes through other creative means aside from using foreign bank accounts.
This latest IRS reorganization program is lead by the “Global High Wealth Industry Group,” which will will
[Read More]

First Prosecution of an Offshore Account Holder in a UBS Tax Case Sends Message: IRS Will Not Tolerate Offshore Tax Evasion

Thursday, October 29th, 2009

On Friday, the first American was prosecuted in a UBS tax case and sentenced to house arrest after admitting he concealed about $6 million in assets from the IRS.
Americans who missed the October 15th deadline for tax amnesty can still reduce severe IRS penalties for offshore accounts (including FBAR penalties that can amount to 200-300% of the asset value of the account!) Account holders need to get expert tax help
[Read More]

Tax Scams are Not the Way to Resolve Tax Problems or Back Taxes as Witnessed by an Attorney Who Was Involved in a Tax Evasion Scam and Anti-IRS Promotion and Now Faces His Day in Court

Thursday, October 29th, 2009

Facing back taxes can be overwhelming, but must be done!  Did you know that working through your back taxes owed doesn’t have to be done alone?  I recommend professional tax services to help you find tax relief.  Tax Resolution Services specialize in helping people resolve their tax debt one step at a time.   Remember that no one can avoid taxes.  Eventually the IRS will catch on to you like this attorney
[Read More]

Who Does the TRS Files Commercials with Real-Life Tax Resolution Stories?

Wednesday, October 28th, 2009

You may have seen our new campaign featuring The TRS Files, real-life tax resolution stories designed to help Americans with IRS tax problems know that they’re not alone. We created the campaign to educate taxpayers on their options for immediate and permanent tax relief – so they don’t have to bear the burden of dealing with the IRS on their own!
People have been asking me about the TRS Files spokesman.
[Read More]

Tax Problems of the Stars – Celebrities Owing IRS Back Taxes Though the Years

Wednesday, October 28th, 2009

I recently blogged about the Worst Cases of Celebrity Tax Evasion- and the tax resolution lessons we can learn from these high-profile cases to make sure you don’t land in IRS trouble!
I came across another article on FoxNews.com about the Tax Problems of the Stars – which feature both recent headlines and some blasts from the past. Here are some highlights:
Nicholas Cage recently made headlines for his huge tax liabilities
[Read More]

The IRS Voluntary Disclosure Program is Over for Those Hiding Money Overseas – Reducing IRS Penalties is Still Possible with Help from a Tax Professional

Tuesday, October 27th, 2009

The IRS Voluntary Disclosure Program ended on October 15th.  For U.S. taxpayers who have been hiding money in Zurich, expect indictments and harsh prison sentences from the IRS.

By Michael Rozbruch, Certified Tax Resolution Specialist
———————————-
For the more than 4,450 U.S. taxpayers who have bank accounts in Switzerland and haven’t told Uncle Sam, time’s up.
In an unprecedented settlement with the Swiss government and Swiss bank UBS, the Department of Justice and Internal Revenue
[Read More]

77-Year Old Developer Evades Taxes and Sentenced to Prison Time – Don’t Evade Taxes, Set Up an IRS Payment Plan if You Owe Back Taxes

Monday, October 26th, 2009

If you owe taxes to the IRS, and feel like you do not have the money to pay them back, you can work out a payment plan with the IRS, also known as an Installment Agreement, which allows you to pay your tax liabilities over time.  Some people are able to negotiate their tax payment plans, but if you owe $25,000 and over, I would highly recommend working with a
[Read More]

Ask The Tax Resolution Expert – How You Can Avoid Paying Taxes on “Cancellation of Debt”

Monday, October 26th, 2009

Got a question for our tax expert? Call our office at 1-866-IRS-PROBLEMS or visit www.taxresolution.com
As many Americans have lost their homes due to the real estate crash, some are wondering whether they can avoid paying taxes on “cancellation of debts”  like the one below.
————
Question: We own a 2001 Monaco Windsor Motor Home.  Current market value is approximately $95,000.  We owe approximately $155,000 on this vehicle.  For tax reasons it is treated
[Read More]

IRS Audit News: Expect Increased Tax Audits Due to Taxpayer Abuse of First Time Homebuyer Credit

Friday, October 23rd, 2009

The IRS is set to audit many more returns in 2009 and 2010 due to abuses by taxpayers of the first time home buyer tax credit. The first-time homebuyer tax credit is a tax break of up to $8,000 for qualified home sales before December 1, 2009.
Not everyone qualifies for this credit and I’ve also blogged about common misconceptions about the first time homebuyer tax credit.  Knowing the rules and
[Read More]

Two Tax Rules: Avoid Tax Scams and If You Need Tax Relief Consult a Tax Professional

Friday, October 23rd, 2009

As I’ve blogged before, tax scams will only get you in trouble with the law!  If you are having tax problems, seek professional tax help.  Tax Resolution Services can help you find tax relief as we have helped many others.  Our tax help testimonials speak for themselves!  Our Offer in Compromise tax settlement rate is $0.13 on the dollar!  Read more about our tax relief road map - what to expect when resolving
[Read More]

TRS Files: Taxpayer Conquers Fear, Panic and $43,000 in IRS Debt

Friday, October 23rd, 2009

When you get a letter from the IRS demanding money from you, it’s like getting a letter from the mortuary. That’s how Gary felt – he knew that he was about to enter the place that he never wanted to enter. (See his whole story below as captured on The TRS Files.)
Gary knew he had to do something when he got one of those scary IRS letters saying “You owe
[Read More]