Archive for May, 2012

New Offer in Compromise Policies Bring Tax Relief

Wednesday, May 30th, 2012

The May 21st IRS announcement offering flexibility to the Offer in Compromise Program (OIC) is BIG NEWS as it could provide tax relief to many financially distressed taxpayers like never before. The erecent Forbes articles Are Tax Collectors the New Men in Black? and New IRS Offer in Compromise Policies discuss the IRS changes of two criteria: the financial analysis used to determine who qualifies for an Offer in Compromise
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Tax Resolution After Receiving IRS Audit

Tuesday, May 29th, 2012

For over fourteen years, my firm, Tax Resolution Services, Inc., has provided tax relief services to great people who were badly in need of tax help.
In the latest Tax Man episode, I sit down with a Tax Resolution Services client, Dan R to ask him how he reacted after receiving his first IRS audit notification in the mail.

Dan was overwhelmed because he didn’t know what to do and were to
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New Changes to Offer in Compromise – More Flexibility

Thursday, May 24th, 2012

The IRS announced this week it changed some of the rules that govern the Offer in Compromise (OIC) program – more flexibility meaning more folks can qualify.  An article in Reuters entitled IRS Widens Taxpayer Debt Forgiveness Program and in Accounting Today entitled IRS Makes Offer in Compromise Program More Flexible outline these changes aimed at giving more American taxpayers flexibility to repay their tax debt as part of the
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National Association of Tax Resolution Companies Inaugural Conference

Tuesday, May 22nd, 2012

The National Association of Tax Resolution Companies (NATRC) inaugural conference in Washington D.C., May 20-21 had several important agenda items. Perhaps the most important was the discussion on how to best regulate companies using deceptive and misleading advertising practices to lure in vulnerable consumers looking to resolve their IRS tax issues.
These companies, called lead aggregators/generators, hook unwitting consumers by promising IRS debt relief for “pennies on the dollar” then hand
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The National Association of Tax Resolution Companies

Monday, May 21st, 2012

The National Association of Tax Resolution Companies (NATRC) Inagural Conference held in Washington D.C., May 20-21 ended today, but not without some exciting highlights. There was a great turn out; about 45 members including attorneys, EA’s and CPAs representing over 30 tax resolution companies from all over the country.
The goal with the NATRC is to see fair and reasonable regulation of the tax resolution industry and to restore a
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The Tax Man Gives a Tour of Tax Resolution Services

Friday, May 18th, 2012

For fourteen years, I have helped people just like you solve IRS tax problems including IRS audits and having no money to pay off back tax debt. For those currently needing IRS relief, I’m happy to announce that you are in luck; the Tax Man is here with a new tax help video series.

The purpose of this Tax Man video series was to give taxpayers in need of tax relief
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Tax Expert Ponders GM-Facebook Ad Pull

Wednesday, May 16th, 2012

I’m taking a break from tax issues as a certified tax resolution specialist to comment on an interesting news story that will have an effect on business advertising. Yesterday, a Wall Street Journal article GM Says Facebook Ads Don’t Pay Off announced that General Motors was going to stop advertising on Facebook claiming that their paid advertising on the site did little to influence consumer car purchases.
Analysts think this move
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Tax Relief-Bankruptcy and Tax Debt

Tuesday, May 15th, 2012

With the recession in its fourth year, financially distressed consumers are turning to bankruptcy as a means to wipe their financial slate clean including getting rid of their tax debt. However, what many do not realize is that not all tax issues are discharged in bankruptcy. A Bloomberg BusinessWeek article entitled Court says farmers must pay bankruptcy tax reported on a recent Supreme Court ruling that firmly stipulated there be
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To Avoid Tax Issues-Americans Give Up Passports

Monday, May 14th, 2012

There is little doubt that wealthy Americans are under scrutiny for tax collection. Nowhere is this more obvious than for those who have offshore bank accounts. More U.S. citizens living abroad are deciding to renounce their U.S. citizenship instead of facing IRS tax problems concerning new U.S. tax regulations namely the Foreign Account Tax Compliance Act (FATCA) aimed at curbing tax evasion.
The subject of renouncing citizenship made front page headlines
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Tax Relief Weekly News Round-Up

Friday, May 11th, 2012

This week’s tax relief news has been quite exciting especially for Tax Resolution Services.
Here are some of the highlights:
Tax Resolution Services-2012 Stevie Award Finalists for Business
I am extremely proud to announce that both Brian Compton and I have been selected as 2012 finalists for the 10th Annual Stevie Awards. Brian was selected for Executive of the Year for Accounting, Banking, & Financial Services and I am a finalist for Maverick
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Tax Resolution Services-Finalists for 2012 Stevie Awards for Business

Thursday, May 10th, 2012

It’s a great day at Tax Resolution Services. I am honored to announce that both Brian Compton and I have been selected as 2012 finalists for the 10th Annual American Business Awards, otherwise known as the Stevies.  I was a nominee in 2009 and 2011 -while it’s great to be recognized again by the ABA, I’m especially happy to Brian receiving recognition for his outstanding leadership.
Brian was selected as a
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Tax Help Tips-Amending Your Tax Return

Wednesday, May 9th, 2012

If you recently discovered errors on your recent tax return, you don’t have to wait another year, just amend it. I just read two separate (but related) articles on how common it is to find errors after filing that address how taxpayers can amend their returns.  Combined tips inspired by articles from the Orange County Register’s How to Fix Your Messed-Up Tax Return and Wall Street Journal’s How to Amend
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Tax Expert Leads Free Webcast for Tax Practitioners

Tuesday, May 8th, 2012

Eva Rosenberg is known as the TaxMama®, giving out much needed tax information to those in trouble with the IRS and doing all of it with a mother’s touch.
Tomorrow, Wednesday May 9th at 12:00pm (Pacific) it’s time for me, the TaxMan to meet the TaxMama and deliver sound advice through a complimentary (that’s FREE) live webcast. The topic we’ll be focusing on is “IRS Practice: Overview of Collection Issues.”
If you
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Divorce, IRS tax issues and Innocent Spouse Relief

Monday, May 7th, 2012

Going through a divorce is difficult enough. Settling financial matters with your ex (or soon to be ex-spouse) can be tough to accomplish…but in order to avoid future IRS tax issues; necessary. To help with divorce and IRS stress, I wanted to share a Reuters article called Tax Planning for The Divorcing and the Newly Divorced provides information on the most common tax planning questions so couples can begin to
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IRS Payroll Tax Problems Claim Alabama Town

Monday, May 7th, 2012

Small business is no stranger to payroll tax problems, but when a city becomes a victim, it makes headlines. An article from Channel 11 entitled IRS Says York Failed to Make Payroll Tax Payments reported that a representative from the Internal Revenue Service traveled to York, Alabama to meet with city officials to discuss their specific tax issue: unpaid payroll taxes.
It appears that the city administrator, Tim Sweezey and
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