Taxpayers, get ready for the fast-approaching 2010 tax season!
Yes it’s still January, but it’s not too early to start getting all your ducks in a row for the upcoming tax filing season. With the IRS tax collection efforts strengthening, it would be wise to adhere to IRS guidelines and tax filing tips when filling out your tax returns in order to avoid IRS tax problems down the line.
The IRS has
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If you owe the IRS back taxes, there is hope that you may not have to pay all of it back if you wait long enough.
Many taxpayers are unaware of the 10-Year Statue of Limitations the IRS must abide by. From the date of your assessment to the ten year mark is the only time the IRS can hold you accountable for payment of your back taxes or unpaid income
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Good news are on the horizon for taxpayers that are tired of confusing IRS notice letters.
In an act of self-assessment, the IRS is planning to change the confusing and consequently inefficient notice letters it sends out to thousands of taxpayers every year. As the IRS gears up its team of aggressive tax collectors to go after unpaid back taxes and income taxes, it is also making efforts to help taxpayers
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Recently I was featured in CPA Magazine along with an elite selection of other top CPAs and tax experts to offer tax help and advice to taxpayers like you to prepare for the upcoming 2010 tax return filings. In light of the fast-approaching 2010 tax season, I want to draw your attention to a few things that you need to know about new IRS regulations for tax preparers.
If you didn’t
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As the tax season of 2010 is underway, taxpayers need to be very careful about what kind of tax deductions they are planning to claim.
Since the IRS is stepping up its aggressive collection efforts, it would be unwise for taxpayers to claim deductions that they cannot substantiate with evidence or claim deductions that are not compliant with the IRS tax filing regulations.
If you do find yourself in IRS trouble, there
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Some taxpayers can expect to get a visit or a courtesy letter from the IRS this tax season–but not necessarily because they are being audited. This time around, the IRS wants to reach out to taxpayers in order to give them tax help advice on how to avoid tax problems.
These letters and IRS personal visits are targeted to educate taxpayers on the tax filing rules and also potential IRS penalties.
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Owing back taxes to the IRS won’t go unnoticed, even if you are infamous with millions in your bank account.  The IRS makes no exceptions and sooner or later, if you owe back taxes, you will be hit with an IRS tax lien.  IRS tax liens are no fun and are inescapable by hiding in your house and watching “Girls Gone Wild” videos!  IRS tax liens are public records and show up
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A tough year calls for tough measures. The IRS knows this better than anyone and is not afraid to show its aggression with the increasing audit rate.
Nearly 1.4 million Americans were audited in 2009, which equates to 1% of all tax returns filed. Even if you can’t pay your back taxes, you can settle your debt by negotiating a reasonable monthly IRS payment plan or an offer in compromise settlement
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Investment fraud, also known as a “Ponzi” scheme, is prevelant both on a small scale or large scale (two words: Bernie Madoff).  Tax Resolution Services offers help for those who’ve been scammed in these white collar crimes.  A Certified Tax Resolution Specialist can tell you if you are eligible to recover 30% to 40% of your losses through investment fraud representation under the Internal Revenue Code section 165.  Recoup your losses with professional investment fraud representation and enjoy the article
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Every month I choose a very special Tax Client Of The Month.  It’s my way of acknowledging good friends and saying “thanks” to those who support me and Tax Resolution Services with referrals, word of mouth and repeat business.
This month’s Tax Client Of The Month is Charles M.
Charles owed the IRS over $5 million dollars. Yes, you read correctly, $5 million. This case was more time consuming than some of our cases, but our
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As taxpayers are getting ready to file their 2010 tax returns, an important thing to remember is to only claim deductions that you can substantiate with evidence. This is an easy way to avoid incurring the wrath of the IRS–do not deduct “business” expenses that are personal!
I have blogged about many cases before where individuals were subjected to IRS penalties for falsely claiming business expenses as a part of their
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Some taxpayers make the mistake of believing that if they can get away with tax evasion, then it’s worth the risk to save the money. However, as the IRS steps up its game to collect more taxes, it’s beginning to get more risky and less worthwhile to do so.
A common problem I hear from my clients is that they want to pay their taxes but don’t have enough money.  As
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Tax debt can be serious, large and feel crippling.  When dealing with a large amount of taxes owed, it is advisable to seek professional tax services to explore your tax relief options.  If you are not sure what kind of tax help you may need, call our office at 1-866-IRS-PROBLEMS or visit www.taxresolution.com.
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Question: New Year’s Resolution: I want to get rid of my tax debt! I owe a lot too. A
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As a Certified Tax Resolution Specialist, I’ve seen how rough the last couple of years have been for tax cheats in the United States. But the bad news is the IRS has plans to put even more pressure on tax cheats in 2010.
For middle-class tax cheats, there was the Caribbean scheme. U.S. taxpayers living in the United States would stash their money in a Caribbean bank account, then link that
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The Internal Revenue’s compliance department found trouble in the back yard. As of Sept. 30, more than 276,000 federal employees and retirees owe $3.04 billion in back taxes.
Federal workers had an overall delinquency rate of 2.9 percent. The Department of Housing and Urban Development boasted the highest delinquency rate among employees at just over 4 percent.
“It’s not right for a few to shirk their obligations, and it’s especially offensive that
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