Archive for December, 2010

Tax Help News: Does the IRS Owe You?

Friday, December 31st, 2010

Earlier this month we mentioned that the IRS have over $164.6 million in undelivered refund checks and want to deliver them to the rightful taxpayers. 111,893 taxpayers who are owed a refund check this year never received it because of  simple mailing address errors. To solidify these almost too-good-to-be-true IRS news, Chris Knape from mlive.com reports that 2,297 of those taxpayers are Michigan residents and are owed $3 million in
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Tax Resolution Services Offers End-Year Tax Tips on San Francisco Examiner

Friday, December 31st, 2010

As 2010 is coming to a close, it is a wise move to start thinking about closing the tax year off right. At TRS we believe in taking action as early as possible, no matter what your tax debt situation is.  And we are not the only ones that think so! We were recently mentioned in The San Francisco Examiner under SF Small Business Examiner, A. Michelle Blakeley’s post: 23
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Nation’s Leading Tax Relief Firm Issues Vital Tips for Filing Tax Returns to Avoid IRS Problems

Friday, December 31st, 2010

With the holidays in full swing, tax season is right around the corner. In this time of troubled national and local economies, more Americans are finding themselves delinquent on their taxes and facing increasingly aggressive collection efforts by the IRS.
At TRS we suggests four strategies to avoid and resolve IRS problems before they multiply.
* File a return on time even if you do not have the money to pay the
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Holiday Tax Help: Beware of Gifts That Will Get You On the IRS Naughty List

Friday, December 31st, 2010

This holiday season, taxpayers may want to give gifts to family members or charitable institutions that help them make the most of allowable tax deductions and tax benefits. Unfortunately many people have made mistakes giving in ways that get them on the IRS naughty list. Learn more about how to save on your tax bill while keeping you out of IRS tax trouble with these IRS-friendly gift-giving tips.
Many individuals
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Tax Help for Taxpayers as IRS Audits Jump a Whopping 11%

Monday, December 27th, 2010

According to recently released statistics, IRS audits have jumped a whopping 11% this year-targetting the wealthiest and business owners.
According to CBSNews, “the IRS examined more than 1.58 million individual returns in the budget year that ended in September, up from 1.43 million the year before.” With people whose incomes were more than $1 million, about a little over 8% were audited while the overall audit rate for individual tax returns
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Tax Relief News: Offshore Bank Account Holders Still Need Tax Relief as IRS Plans Further Actions

Tuesday, December 21st, 2010

For those who hold offshore or other undeclared foreign accounts, it’s time to become compliant. That is the message the IRS is sending to Americans who have sheltered funds in other countries. The IRS has been putting tremendous pressure on foreign banks—with success—to disclose their American account holders. Swiss giant UBS, in the face of legal action by the IRS, finally capitulated and disclosed its American clientele, and the IRS
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Tax Help Expert Brian Compton Weighs in on Celebrity Tax Woes and What Taxpayers Can Learn

Tuesday, December 21st, 2010

Is any publicity really good publicity?
This year alone, celebrity tax woes has caught taxpayers’ eyes from coast to coast and even abroad. Earlier this month, our team’s national tax expert Brian Compton was quoted in HowStuffWorks on how celebrities get in IRS trouble and why average taxpayers need to beware.
According to the HowStuffWorks article, celebrities meet their tax problems in various ways: “the oblivious (Nic Cage: I’m just an entertainer!),
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Unpaid Payroll Taxes Lands Virginia Man in Prison for 19 Months

Friday, December 17th, 2010

This is for all the business owners out there!  Unpaid payroll taxes can cause you to lose your business and land you in prison.  The IRS is very aggressive in their collection of payroll taxes because it is considered a “trust tax” and non-payment of payroll taxes to the IRS is considered “theft”.  Perfect example in the article below.
Eric Jon Eisenhower, of Fairfax Station, Va., was sentenced to 19 months in prison
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Nation’s Leading Tax Relief Firm Emphasizes Importance of Taxpayer Compliance

Friday, December 17th, 2010

For taxpayers who are scrupulous about filing every year and paying every dime of their tax bill on time year after year, it can be galling to hear about delinquent taxpayers who manage to settle their tax debt for far less than what they owe.
Our team at TRS understands the common frustration of compliant taxpayers. People ask, Why is it a good thing when someone can settle with the IRS
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Tax Relief Professionals Can Help You Resolve Back Taxes – Don’t Cheat the IRS!

Wednesday, December 15th, 2010

Are you haunted by back taxes?  A tax relief professional can help you settle your back taxes owed, giving you peace of mind and financial freedom.   Many people ask, why would I pay money to hire a tax relief professional when I cannot even pay the back taxes owed?  It’s simple.  A tax relief professional may help you qualify for a tax relief settlement where you pay only a fraction of
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Unable to Pay Your Tax Debt? The IRS Offer in Compromise Program May Solve Your Tax Debt Problem

Monday, December 13th, 2010

Tax debt can be a huge burden and scary to face.  Many people do not know that the IRS has options for those who may not be able to pay off their tax debt.  One of these option available to qualifying taxpayers is called the Offer in Compromise program.  One of my tax relief clients asked about the Offer in Compromise program (see question below) and I believe that explaining the
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Tax Tweets from IRS Offer Timely Tax Help and Filing Tips for Taxpayers and Tax Professionals

Monday, December 13th, 2010

The IRS is fully integrating itself in social media. In keeping up with the times, our nation’s tax collection agency now offers timely tax tips, information on IRS programs like e-file, tax law changes and other quick snippets of information for taxpayers on its IRS Twitter @IRSnews. The IRS states the focus of its Twitter channel is to offer easy to use information and share timely content with taxpayers and the
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Year-End Tax Tips for Business Owners-What You Can Do Now to Save in 2011

Sunday, December 12th, 2010

As 2010 is drawing to a close, what can business owners do to wrap up the year and prepare for tax day 2011? As always, it’s much better to get all your ducks in a row before the new year starts than to wait till March rolls around. So here are some expert tax help tips for the year’s end:
(1) Get Organized. Allow enough time to get your “stuff” in
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Year-End Tax Tips For Individuals: How to Save on Taxes in 2011

Sunday, December 12th, 2010

What a a year 2010 was! With all the media exposure on tax relief scandals like Roni Deutch and American Tax Relief, celebrity tax woes, and the UBS offshore tax evasion cases. Alas, we are at a close of the year with only two weeks left before the new year rolls around, what can you do as an individual taxpayer now so that you can save some money come 2011
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Tax Resolution News: Top Reasons to Be Thankful for the IRS

Sunday, December 12th, 2010

The IRS may not be at the top of many people’s lists of things to be thankful for this year, especially with its record $5.5 billion enforcement budget. However, there are still many reasons to be thankful for America’s tax revenue agency…seriously! Read on…
The IRS has a tough job to do, and it does it better, and more fairly than many governments across the globe. For those struggling with tax
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