Archive for July, 2012

Recent Celebrity Tax Issues-Tax Liens and Prison

Friday, July 13th, 2012

Press recognition can often do wonders for a celebrity career but not when the subject matter features IRS tax issues. The latest celebrities in this weeks making headlines for owing the tax man are singer Kelis (famous for the song “Milkshake”) and rapper Beanie Sigel.
Kelis’ tax troubles were recently highlighted in a TMZ article entitled Coast to Coast Tax Liens, listing her following 2004 & 2010 tax issues where she
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Offer in Compromise Settles Tax Debt, Saving Client $49,000

Thursday, July 12th, 2012

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 support our business with referrals, word of mouth and repeat business.
This month’s Tax Client Of The Month is Mr. Clifton S.
Mr. Clifton S. owed the IRS $52K in back taxes when he sought help.  After several months of negotiations, we were
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IRS Faces Potential Tax Issues-Affordable Care Act

Thursday, July 12th, 2012

The June 28 Supreme Court decision to uphold most of the Affordable Care Act (ACA) has been a hot tax topics in recent weeks.  This decision will impact most American taxpayers. As a certified tax resolution specialist that helps clients avoid IRS tax issues, new expanded IRS powers are of particular interest to me. A recent Washington Post article entitled Supreme Court’s decision renews questions about IRS capability to enforce
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TaxMan Video Introduces IRS Tax Attorney Team

Wednesday, July 11th, 2012

Tax Resolution Services employs great professionals who help struggling taxpayers resolve their IRS tax problems. A recent TaxMan video introduces some of the Tax Team members responsible for this success: expert tax attorneys Tiffany, Parham, Anna and Amir. These hard-working professionals all share common goals: a passion for helping people and a desire to work extremely hard to represent their client cases to the IRS.  As the video below demonstrates,
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Back Taxes Owed by Singer R. Kelly Amount to $4.8 Million

Tuesday, July 10th, 2012

Singer R. Kelly owes the Internal Revenue Service a whopping $4.8 million in back taxes for income from the years 2005 to 2010.
“R. Kelly is in the process of working everything out with the government and is confident that all his obligations will be satisfied,” a representative for Kelly told the celebrity news website TMZ.
Referred to as the “King of R&B,” Kelly is among the world’s best-known rhythm and blues
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IRS Announces Tax Relief for Americans Living Abroad

Monday, July 9th, 2012

The IRS has just announced some tax rule easement for Americans living abroad who still need to file their U.S. federal income tax returns or Reports of Foreign Bank and Financial Accounts (FBARs). This easing of rules is another attempt by the US government to make it easier (and less expensive) for citizens living abroad to come out in the open and become IRS tax compliant.

The Montreal Gazette featured an
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Rihanna Sues Accounting Firm for IRS Tax Issues

Saturday, July 7th, 2012

Celebrity tax problems begin when they lack interest in their own assets and personal business affairs. Sadly, this lack of interest can expose them to dishonest business professionals becoming victims of financial misdoings and facing IRS tax issues brought on by these trusted advisors.
However, some celebrities see the light and fight back against suspected financial victimization. A New York Post article titled Rihanna reveals tax troubles in $uit vs. former
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IRS Crackdown on Offshore Accounts Nets $5 Billion

Thursday, July 5th, 2012

More than 33,000 people reported offshore accounts to the IRS, resulting in revenue of more than $5 billion. But offshore accounts are only the beginning. The IRS is also looking at you.
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After the Internal Revenue Service and the U.S. Department of Justice negotiated a settlement with Swiss banking giant UBS to release account information, effectively piercing the once-impenetrable Swiss banking veil, U.S. officials offered a deal to taxpayers hiding money
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Tax Resolution Services, Co. Wins American Business Awards

Tuesday, July 3rd, 2012

In addition to solving IRS tax problems, Tax Resolution Services, Co. was honored last month with two American Business awards (aka the Stevie awards) for our work in the tax resolution industry.  I was honored with a bronze Stevie Award for Maverick of the Year and my colleague and Tax Resolution Services’ President, Brian Compton received a silver Stevie as Executive of the Year in Accounting, Banking and Financial Services.
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