Archive for the ‘Delayed IRS Collection and Currently Not Collectible St’ Category

Tax Client Saves Over $100,000 Through IRS Offer in Compromise

Monday, May 13th, 2013

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]

Weekly Tax Relief News Round Up

Friday, September 21st, 2012

Happy Friday! It’s time for a review of this week’s mixed bag of tax relief topics:
Currently Not-Collectable Status – Status 53
A new video from the Tax Man series explains how Currently Not-Collectable Status works for taxpayers having trouble with tax debt repayment because their current expenses are higher than their income. Currently Not-Collectable Status gives these folks time (sometimes up to two years) whereby they are not obligated to
[Read More]

Currently Not-Collectable Status – Status 53

Thursday, September 20th, 2012

The purpose of the Tax Man series is to explain IRS practices and tax relief solutions that are implemented to help taxpayers get out from underneath tax debt issues. One solution is the “Currently Not-Collectable” or Status 53 as defined by the IRS.
In a recent Tax Man video, Tax Team member, Parham explains that the “Currently Not-Collectable” Status often works for taxpayers whose expenses are higher than their income and
[Read More]

Changing an IRS Tax Settlement after Negotiation

Thursday, August 30th, 2012

Given the deep and prolonged recession, many are finding it impossible to make ends meet including taxpayers with an IRS tax settlement wanting to renegotiate their payments with the IRS. In over 14 years of working with tax resolution cases, I’m currently seeing taxpayers in record numbers facing this challenge. Often their original tax settlement was based on income and finances that have since disappeared leaving them with a payment
[Read More]

Need Tax Relief? Do Your Homework Before Hiring A Specialist

Monday, August 1st, 2011

The reason I got into this business was to help people with their tax issues. Our clients found that dealing with the IRS directly often made their situation harder to resolve and more difficult to understand.  The nature of tax problems is inherently complicated and we sought to simplify that process by providing expert guidance that resulted in getting the best possible tax settlement on behalf of our clients.
Tax Resolution
[Read More]

IRS Tax Relief Interview with Tax Resolution Services, Co.

Friday, July 29th, 2011

There are a myriad of reasons why people have tax issues.  In my decade plus of expertise in guiding people to resolve theirs, I’ve just about seen them all. Our tax mediation firm specializes in working with the IRS to secure the best deal for clients seeking relief for their tax problems. Years of practice in careful listening and observing combined with a brazen approach and natural proclivity
[Read More]

Tax Resolution Tip: What Is The Statute of Limitations?

Friday, June 17th, 2011

Today’s Tax Resolution Tip:
Quick tax lessons: The Statute of Limitations are laws regarding IRS timings:
- The IRS have 3 years to issue a refund to consumers
- The IRS have 3 years to audit your tax return
- The IRS have 10 years to collect any tax due from consumers
Find our more about the Statute of Limitations and expiration of back taxes. For more tax help, check out our tax relief FAQs and keep
[Read More]

Need For Tax Resolution Grows as IRS Gets 5,000 New Employees to Catch Tax Cheats in 2012

Tuesday, February 15th, 2011

President Obama has decided to give the IRS an extra $1.1 billion in the 2012 budget to create an additional 5,000 jobs for the IRS to go after tax delinquents.
According to a recent Bloomberg article, this increase in the budget to $13.3 billion will allow the IRS to focus on fighting tax evasion and to seek out fraudulent tax preparers.
Furthermore, almost half of the increase ($460 million) would support the
[Read More]

Tax Relief FAQ: How Does “Currently Not Collectible” Status Affect IRS Collection of Back Taxes?

Monday, July 26th, 2010

Owing back taxes and interest to the IRS is a surprisingly common problem: thousands of Americans feel the burden of it every year. Therefore it is important to take the steps to resolve your IRS problems now. The worst thing you can do is ignore letters from the IRS, hoping your troubles will go away. They will not do so on their own – you must take the appropriate steps! If
[Read More]

Tax Relief FAQ: You Owe The IRS Back Taxes. What If You Cannot Pay The Full Amount Now?

Sunday, July 25th, 2010

If you are one of thousands of Americans who owe back taxes and interest to the IRS, it is important to take the necessary steps to resolve your IRS problems. The worst thing you can do is ignore letters from the IRS in hopes your troubles will go away. They will not- unless you take the appropriate steps now!
If you have back taxes to settle, it is essential to know your
[Read More]

Six Tips If You Receive an IRS Tax Collection Notice to Collect Back Taxes

Wednesday, June 23rd, 2010

The Internal Revenue Service will be mailing tax collection notices this month to collect back taxes. If you get one of these IRS tax collection notices, you will need to take action quickly with the help of a tax attorney or Certified Tax Resolution Specialist in order to protect yourself, your loved ones, your assets and your job.
If you get one of those terrifying IRS tax collection notices to collect
[Read More]

IRS Tax Relief Options: What To Do If You Can’t Pay Your Taxes

Friday, April 30th, 2010

With the April 15th tax filing deadline already passed, what can you do if you’re one of thousands of taxpayers who just don’t have the cash to pay Uncle Sam?
The good news is, there are still IRS tax relief options for you if you did not pay two weeks ago. According to a  MarketWatch article, your best bet is to still file your tax return even if you don’t have
[Read More]

IRS Tax Relief For Last Minute Filers as April 15th Approaches

Tuesday, April 13th, 2010

There are only two days left until the April 15th tax filing deadline.
For taxpayers who are not yet ready with their tax returns, it’s time to buckle down. Whether you haven’t filed your taxes because you’ve been busy or because you don’t have enough money to pay your taxes in full, it’s time to get serious about your tax return in order to avoid IRS tax problems.
I recently appeared on
[Read More]

Tax Help For Offshore Account Holders as US-Swiss Protocol Allows Handover of Account Holder Info

Monday, April 5th, 2010

For those who thought the heat from the UBS-IRS deal has passed, it’s time to think again.
The United States and Switzerland recently announced a new protocol where it will allow the Swiss government to provide information to the IRS on U.S. account holders of Swiss bank UBS.
According to Journal of Accountancy, “The protocol has been approved by the Swiss Federal Council and was signed in Washington on Wednesday, but the
[Read More]

Tax Help From the IRS: Upcoming Saturday Open Houses For Resolving Tax Problems

Thursday, March 25th, 2010

Believe it or not, the IRS is doing its best to provide tax help to struggling taxpayers.
According to the IRS news room website, IRS will hold hundreds of special Saturday open houses to give struggling taxpayers more opportunity to work directly with IRS employees to resolve tax issues. The offices will be open on March 27 and three additional Saturdays in the spring and early summer. Future dates, times and
[Read More]