It’s pretty clear Beyonce’s former manager and father, Mathew Knowles knows a thing or two about managing a superstar. However, it appears he’s less knowledgeable about what it means to owe back taxes to Uncle Sam. According to a Source article titled: “Mo’ Money, Mo’ Problems! Mathew Knowles Owes 1.2 Mil In Taxes“, Knowles, who failed to pay his taxes during 2010 and 2011, has now received a huge tax
[Read More]

Question: I owe a lot of money to the IRS, and having just filed my taxes for 2012, I owe even more! I need to do something, and soon. How do I know if I qualify for the Offer in Compromise program?

Answer: The Offer in Compromise is a great program for consumers who owe a substantial amount to the IRS but who cannot pay off their tax debt, even
[Read More]

Question: I am filing bankruptcy to get out from underneath debt brought on by some bad financial decisions. Can I discharge in bankruptcy the IRS back taxes I owe for tax years 2008 and 2009 that amount to roughly $25,000? I am struggling financially to pay off all the debt I incurred in this mess but am particularly overwhelmed with the tax debt. Do I have any chance at tax
[Read More]

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. & Mrs. Ford Sr.
Mr. & Mrs. Ford Sr. owed the IRS $112,000 in back taxes when he sought help.  After several months
[Read More]

This was a busy week in tax relief and IRS news. The stories that caught our attention ranged from how long to keep IRS tax records, to celebrity tax woes and finding tax debt solutions to the pro’s and cons of IRS prepared returns.
This week started with a helpful post titled: Tax Relief Tips for How Long to Keep IRS Records. A general rule of thumb guideline suggests that
[Read More]

If you have tax troubles that haven’t been addressed, it’s time for you to see a tax professional and get to know your options.
———————————-
I remember his face, clear as day.
Panicked — that’s the only word to describe it.
I shook his hand; it was a clammy. He was nervous.
For the sake of this column, I’ll call him Bill. At the time, he was my newest client.
Bill was holding a copy of
[Read More]

Actor Stephen Baldwin pleaded guilty to failure to file income taxes for three years and will pay $300,000 in back taxes to the government.
Baldwin, the youngest of the Baldwin brothers and best known for his roles in The Usual Suspects and The Flintstones in Viva Rock Vegas, was arrested in December on charges that could have resulted in a prison sentence of up to four years.
According to Balwin’s attorney, if
[Read More]

Apparently, Lauryn Hill’s “Miseducation” may relate to how badly she handled her IRS tax problems. According to Accounting Today’s article titled: Fugees Singer Lauryn Hill Sentenced to Prison for Tax Evasion, Hill was sentenced Monday to three months in prison plus three months home confinement for failing to file tax returns for five years and not reporting more than $2.3 million in income. The article explains the terms of her
[Read More]

I recently wrote a post for the Tax Matters blog about a newly released Government Accountability Office (GAO) report showing IRS budget cuts forcing the furlough of 100,000 employees therefore reducing the ability to audit taxpayers at the same rate. A Huffington Post article titled: “Offshore Tax Havens: Sequestration Damages IRS Battle with Tax Evasion“ provides additional GAO report information shining a light on how the sequester/IRS budget cuts will
[Read More]

For fifteen years, I have helped resolve IRS tax issues for good people who made past tax mistakes and got into trouble with the IRS. These folks got the the tax relief they needed because they hired expert tax representation capable of handling cases such as theirs. A new Tax Resolution Services commercial for The Blaze TV reminds taxpayers who owe back taxes how important hiring certified tax representation to handle
[Read More]

Just because the April 15 tax deadline passed doesn’t mean people who owe back taxes should stand idly by. It’s time to “man up” to the challenge and resolve your IRS tax issues with the help of an expert tax resolution professional. But who do you choose? On a video episode from the Midday Sunday Fox 11 with host Tony Valdez program, I explain how the tax resolution industry has
[Read More]

Tax Day is here! For those of you who have filed already: Congratulations! However, there are still many taxpayers who didn’t file because they owe back taxes and don’t have the funds to pay their tax debt. Very often these folks fall into what I call the delinquent tax return trap. On a video episode from the Midday Sunday Fox 11 with host Tony Valdez program, I explained how many
[Read More]

Terrell Owens, a six-time NFL Pro Bowl wide receiver, has caught an enormous tax bill from the Internal Revenue Service.
According to celebrity news website TMZ, Owens — popularly known by his initials, T.O. — owes $430,000 in unpaid taxes for the years 2007 and 2009.
During the years Owens racked up the IRS debt, he had lucrative contracts to play football for the Philadelphia Eagles, Dallas Cowboys and Buffalo Bills.
Since not
[Read More]

Reminder: 18 days left until Tax Day!
Here’s a review of the tax relief news covered this week. Featured topics include: IRS releases 2013 Dirty Dozen Tax Scam/Scheme List, businessmen guilty of tax evasion and filing false returns, IRS apologies for expensive Star Trek training video and hiring a tax professional versus tax preparation software.
IRS Releases 2013 Dirty Dozen Tax Scam-Scheme List – as well as a video to remind taxpayers
[Read More]

I wrote a Tax Matters post last week on the news that 311,566 federal workers (including retirees) owe over $3.5 billion in back taxes. Many of the details came from both Forbes and MSN who reported on this story. While this topic is quite galling in many respects, the simple fact remains; more government employees with presumably decent incomes are struggling to pay their tax debt and need tax relief.
[Read More]