Archive for October, 2011

Sick Retiree Seeks Tax Relief from Owed Back Taxes

Monday, October 31st, 2011

Our client Bill was incredibly ill and racked up three years of failure to file his tax returns. All said and done, Bill owed the IRS $66,000 dollars in taxes, penalties and fines. With nowhere to run and no means to pay the full amount, Bill turned to Tax Resolution Services for help.  The Tax Resolution Services team was able to step in and help Bill to clear his debt
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IRS Offer in Compromise Program Saves Tax Client Over $70,000

Sunday, October 30th, 2011

Every month at Tax Resolution Services we choose a very special Tax Client Of The Month.  It’s our way of acknowledging good friends and saying “thanks” to those who supports our business with referrals, word of mouth and repeat business.
This month’s Tax Client Of The Month is Mr. Thomas H.
Mr. Thomas H. owed the IRS over $70K in back taxes when he sought our help.  After several months of negotiations,
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Tax Evasion Guilty Plea by Lawyer, Admits Hiding $1.5 Million

Saturday, October 29th, 2011

A Maryland attorney pleaded guilty to tax evasion and structuring financial transaction to avoid reporting $1.5 million.
Stanley Needleman, 68, of Pikesville, Md., is a criminal defense attorney, practicing law for more than 30 years in state and federal court. Clients made payments mostly in cash, which was kept in a large bank envelope. At the end of each business day, Needleman took the bank envelope with the day’s receipts home
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Failure to Pay Employment Taxes by South Carolina Company Owner

Friday, October 28th, 2011

The owner of a South Carolina construction company did not pay employment taxes.
Francisco De Leon Campa, 43, of Bluffton, S.C., pleaded guilty to one count of willfully failing to truthfully account for and pay over withholding taxes for the second quarter of 2007.
According to court records, Campa was the sole shareholder and registered agent of Francisco Campa General Carpentry. Campa had a duty to collect and pay to the IRS
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Reputable Tax Resolution Professionals Play by the Rules

Friday, October 28th, 2011

A recent press release cites the contribution I made to an article written by Tax Analysts Document Service, Tax Debt Representation Industry Continues to Act in the Shadows. The article was about the criticism lodged against the tax negotiation-resolution industry. In this article, I was quoted as an ethical industry expert, responding to the Federal Trade Commission’s (FTC) incorrect “one-size-fits-all” approach to regulations.
Certainly, there are some firms, whose questionable business practices
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IRS Problems for Independent Contractor Behind on Quarterly Estimated Taxes

Friday, October 28th, 2011

As an independent contractor, Sharon fell behind on her quarterly estimated taxes, resulting in penalties and back taxes totaling $93,000. When Sharon knew she would never be able to catch up she turned to Tax Resolution Services to help negotiate down her penalties, saving her around $70,000 dollars. You can listen to Sharon’s story below to hear how Tax Resolution Services helped her:
Tax Resolution Service Client Testimonial: Sharon

If you are
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Self Employed with Huge IRS Problems

Thursday, October 27th, 2011

As a self employed individual trying to make it, Sharon ran into huge IRS problems when she fell behind on her quarterly estimated tax payments. The penalties were horrific and in the end Sharon ended up owing around $93,000 dollars in back taxes and fines. That’s when Sharon decided to call Brian at Tax Resolution Services.  TRS stepped in to take over Sharon’s dealing with the IRS and we were
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Businessman Filed False Corporate Tax Return, Faces Prison Time

Wednesday, October 26th, 2011

John Joseph Bridge of Minnesota pleaded guilty to one count of filing a false return for his business, Fineline Lakeshore Inc. He admitted that he filed a false 2008 corporate tax return, specifically understating the amount of Fineline’s gross revenue by approximately $89,000. Bridge was one of three partners at Fineline and responsible for preparing the corporate tax return. He faces up to three years in prison.

Avoid Getting Ripped Off When Hiring a Tax Professional on The Big Biz Show Blog

Wednesday, October 26th, 2011

Last week, I shared a checklist questions to ask that will help you avoid getting ripped off by a tax relief “professional” or firm on “The Big Biz Show” Blog.  You can visit the site and read the complete post here:
Tips from The Taxman: Ask the Right Questions to Avoid Getting Ripped Off When Hiring a Tax Professional
“The Big Biz Show” is hosted by Sully & Russ ‘T’ Nailz, two
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Tax Tip: Look for a Certified Tax Resolution Specialist to Resolve IRS Problems

Tuesday, October 25th, 2011

Want to know the difference between a tax specialist and a Certified Tax Resolution Specialist (CTRS)?   Tax specialist has no meaning. Certified Tax Resolution Specialists are certified by the American Society of Tax Problem Solvers (ASTPS), a national, not-for-profit organization of professionals who specialize in representing taxpayers before the IRS.
Becoming a Certified Tax Resolution Specialist is not easy, In order to obtain this certification, licensed professionals (tax attorneys, CPAs
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Tax Cheater Warning: Odds Are Against You

Monday, October 24th, 2011

Between piercing the Swiss banking veil and deploying an algorithm to identify possible tax cheats, it’s never been a worse idea to be cheating on your taxes.
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$2.2 billion.
That’s how much the Internal Revenue Service has collected from people who participated in a 2009 program that offered amnesty to those who came forward and disclosed money held in foreign banks.
“This dollar figure will grow in the months ahead,” IRS Commissioner Doug
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More Americans Need Tax Relief from the IRS

Monday, October 24th, 2011

More people owe IRS back taxes today than ever before due to the economic conditions facing the country.  This long extended recession has resulted in millions losing their jobs and being unable to find suitable employment to generate a paycheck. To make up for this, many families are using their savings and 401k accounts to live on and incurring penalties as a result.
With poor economic conditions persisting for so long
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Budget Cuts to Slow Down IRS

Saturday, October 22nd, 2011

Budget cuts are a common topic these days regarding anything surrounding the United States government, so it goes as no surprise to hear that the IRS is next on the list of drastic budget reductions. On the Wall Street Journal’s blog The Tax Blog, Jonnelle Marte keeps us informed on the latest news in her post IRS Cuts: Good News for Deadbeats?
According to the article, Congress plans to reduce the
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Tax Relief Tips for Job Seekers

Friday, October 21st, 2011

Tax relief can come in many forms for taxpayers and deductions are a great way to take some tax burden off of your shoulders. But what about those of us who are on the job hunt? What are the rules surrounding deductions while looking for work? Laura Saunders of the Wall Street Journal explores the best ways to get some tax relief while on the job search in her article
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Paying Off Tax Debt: There Are Options Available

Thursday, October 20th, 2011

Question: I’m really behind on my taxes, and now I’m getting letters from the IRS. I’m having trouble sleeping. I don’t know how I can pay this tax debt. I also have a mortgage and my daughter starts college next year. How can you help?

Answer: I know that feeling. I know what you’re thinking and why you’re worried. The reason for that is because I’ve had so many clients
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