Archive for the ‘Expert Help From Tax Attorney’ Category

Offshore Bank Account Filing Deadline June 17

Monday, June 3rd, 2013

A recent IRS Press Release aims to remind taxpayers with foreign bank accounts and assets that their filing deadline to report them to the IRS is June 17, 2013. This applies to U.S. citizens and resident aliens, including those with dual citizenship who have lived or worked abroad during all or part of 2012 and military personnel outside the country. Also, some U.S. citizens abroad may be required to submit
[Read More]

Tax Relief Tips for Military Personnel

Tuesday, May 28th, 2013

Memorial Day gives us a chance to honor military personnel for their service and sacrifice. It also allows tax professionals the opportunity to remind service members of the tax benefits they are entitled to. A recent article from Don’t Mess with Taxes titled,”Memorial Day 2013: Remembering those who gave all, offering some tax help for those still giving“ provides tax tips using the IRS Publication 3, Armed Forces Tax Guide. Here are
[Read More]

IRS Question: Can I Erase Tax Debt in Bankruptcy?

Wednesday, May 15th, 2013

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]

For Those With Tax Debt, Solutions Are Available

Thursday, May 9th, 2013

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]

Tax Expert Gives Tips on Filing and Tax Payments

Thursday, April 4th, 2013

During my interview last tax season on the Midday Sunday Fox 11 with host Tony Valdez program, Mr. Valdez posed a scenario that many today may be facing: they have finished preparing their taxes, but don’t have the money to pay them. What should they do? This is a common question and the good news is that taxpayers with tax debt have options! Below the video, I offer some solutions.

If
[Read More]

IRS Lists ‘Dirty Dozen’ Tax Scams: Don’t Fall Victim!

Tuesday, April 2nd, 2013

The IRS has released its annual list of the top 12 tax scams. Make sure the tax advice you’re following isn’t on this list.
———————————-
If it’s too good to be true, it probably is.
That well-worn maxim applies to many things in life.
Including, of course, tax advice.
Someone saying you don’t need to pay taxes? Others claiming they can help you hide money off shore?
It’s all too good to be true.
In fact, some
[Read More]

Eliminating Joint Tax Filing Could Help Innocent Spouses

Monday, March 11th, 2013

A Forbes article by contributor Peter J. Reilly titled “Time to Eliminate Joint Filing?“ proposes whether joint filing is really beneficial to couples. In recent years, Reilly has come to think that joint returns for married couples are not such a great idea especially at a time when the federal government is deciding its definition is of marriage through the Defense of Marriage Act (DOMA). Other reasons for doing away with
[Read More]

Feds Still Coming After Unreported Offshore Account Holders

Thursday, March 7th, 2013

A recent Wall Street Journal article titled “Offshore Tax Probe Picks Up” shows the Feds continuing to go after Swiss banks both big and small. The government has also expanded their search for U.S. tax cheats in countries such as Israel, India, Singapore, China and elsewhere they believe citizens might be sheltering their secret accounts to evade paying taxes on them.
The article reports that on Monday Switzerland’s oldest private bank, Wegelin
[Read More]

IRS Agent Coerces Sex with Threat of Tax Audit Penalty

Tuesday, February 5th, 2013

Straight out of a soap opera script, the IRS appears to be facing its own public relations nightmare in the form of a sex scandal. A Huffington Post article titled “Vincent Burroughs Accuses IRS Agent Dora Abrahamson of Coercing Sex by Using Threat of Tax Penalty“ reveals the details of a salacious and inappropriate meeting between IRS agent and taxpayer under audit.
It appears agent Dora Abrahamson initially contacted Vincent Burroughs,
[Read More]

Swiss Bankers Caught Hiding Offshore Accounts from IRS

Monday, December 24th, 2012

If you think the saga between the U.S. government and Swiss banks was over, think again. An article titled Feds Charges Swiss Bankers with Tax Conspiracy from Accounting Today reports on the U.S. government’s continued offensive on worldwide offshore account disclosure. The most recent target: Swiss bank, Zuercher Kantonalbank (ZKB) who the U.S. Government claims attempted to hide the accounts of American clients from the IRS.
According to the article, the
[Read More]

Tax Resolution’s New Certified Tax Resolution Professionals

Friday, December 21st, 2012

It’s one thing to say you’re a “tax resolution specialist” but it’s another to back up that designation with formal credentials. At Tax Resolution Services, Co., (TRS), we require that all of our Tax Attorneys, CPAs and Enrolled Agents meet additional educational, experience, and examination requirements prescribed by the American Society of Tax Problem Solvers (www.ASTPS.org) making them Certified Tax Resolution Specialists (CTRS).
Founded in 1998, Tax Resolution Services, Co. is
[Read More]

Preparing a Plan for Alternative Minimum Tax Relief

Tuesday, December 18th, 2012

A Barron’s article titled Tax Refund Delays Could Trigger Recession reports on how the tax issue surrounding the delayed refunds could actually send our already weak economy into recession in 2013.
As I stated in a previous post, without a “patch” by Congress to the Alternative Minimum Tax (AMT), 33 million or 1 in 5 taxpayers will see their tax liabilities increase. The re-calculation of these tax liabilities means that the
[Read More]

Tax Relief Weekly News Round-Up

Friday, November 30th, 2012

The week after Thanksgiving was busy with tax news. Here are some of the topics we reported:
Tax Evasion

Scrap Metal Dealer John W. Hufgard, 59, of Bath, Ohio, was charged with three counts of tax evasion for allegedly evading approximately $397,659 in federal taxes for tax years 2007 through 2009.
John Giannelli Sr., 66, of Danvers, Mass. pleaded guilty to operating an illegal gambling business. The charges and prison sentences Giannelli is
[Read More]

Paying Off Tax Debt with the IRS Offer in Compromise or Installment Agreement Plan

Tuesday, July 24th, 2012

Question: I owe for several years of back taxes. How do I know whether the Offer in Compromise or the Installment Agreement is right for me?

Answer: Great question. The truth is, you will need to consult a qualified tax professional to be certain which of these plans is appropriate for you. But I hope by explaining in detail what these plans offer, you’ll be better informed when you meet
[Read More]

Tax Man Video Introduces Client Care Team

Friday, July 20th, 2012

Since starting Tax Resolution Services (TRS) in 1997, I have seen my share of tax resolution firms come and go with some firm closures so large their demise made news headlines. As an industry pioneer and national tax resolution expert, I discovered a few secrets to staying in the game were to provide excellent customer service and hire and train great people.
The latest TaxMan video gives viewers a chance to
[Read More]