Archive for the ‘income tax relief’ Category

Tax Problems-What to Do if You Inherit Them

Monday, July 22nd, 2013

After recently writing a post about the estate of James Gandolfini, I ran across a follow-up article for Reuters by Amy Feldman titled: “What to Do When You Inherit a Tax Mess.” This article focuses on the types of tax mistakes people make when planning their estate that can inadvertently cause future tax chaos for beneficiaries.
Here are some key points about estate tax issues the article highlights:

Every one in 10
[Read More]

Businessman Pleads Guilty to Hiding Offshore Accounts

Monday, July 22nd, 2013

In a previous blog post, I noted that since 2009, the IRS has collected $5.5 billion in unpaid taxes and IRS penalties through the amnesty programs it offered. With offshore tax collection a major government focus, it’s hard to imagine anyone attempting to conceal offshore assets. Yet a recent article by Accounting Today titled: “Businessman Pleads Guilty to Not Declaring Israeli Bank Account on Tax Return” reports on a man
[Read More]

Tax Relief News Round-Up Top Stories

Friday, July 12th, 2013

The top tax relief news this week ranged from tax evasion, to prison time for a false tax claim, troubles at the IRS, to a giant tax bill for the estate of actor James Gandolfini. Here is a recap of the tax stories we found interesting:
Tax Evasion by Guilty Texas Pharmacist– This post highlighted the story of Grapevine, Texas pharmacist Joseph Moss who was sentenced to one year and a
[Read More]

James Gandolfini’s Estate to Pay Tax Man 40 Percent

Monday, July 8th, 2013

In spite of making millions playing tough guy Tony Soprano, it appears actor James Gandolfini was not as “tough” in keeping Uncle Sam’s hands off his estate. A New York Daily News article titled: “James Gandolfini will a tax ‘disaster,’ says top estate lawyer,” reports that giving 80 percent of his $70 million estate to his sisters and daughter as the will states is “disastrous” according to veteran estate tax
[Read More]

Tax Resolution Success Story-Client Saves $27k

Friday, June 21st, 2013

Facing the IRS alone is like going up against an army. A new video clip on Glenn Beck’s, The Blaze TV tells the story of a viewer who learned first-hand just how tough the IRS can be. Not only did the viewer have several years of unfiled returns, he knew he needed to pay back the $33,000 in back taxes he owed. (*Below the video clip is information on how to
[Read More]

IRS Scrutiny of Bitcoin and Virtual Currencies

Thursday, June 20th, 2013

Virtual currencies such as Bitcoin have created a whole new way to pay for things. However, the tax rules governing how to report virtual currency use are not as defined as they should be – possibly causing tax problems down the line. A recent Forbes article titled, “Bitcoin in IRS Crosshairs, Says Government Report” explains a new Government Accountability Office report (GAO) that suggests the IRS should watch Bitcoin and
[Read More]

Satisfied Tax Resolution Services Client Saves Over $40k

Monday, June 17th, 2013

At Tax Resolution Services, Co. (TRS) we are committed to providing exceptional client care. A new video clip on The Blaze TV highlights one of Glenn Beck’s viewers who shared his TRS experience with the nationally televised show. This satisfied client said that a TRS quality assurance manager was with him every step of the way to make sure his case was on track. His original tax debt amounted to nearly $50,000.
[Read More]

Tax Relief Weekly News Round Up-Top Tax Stories

Friday, June 14th, 2013

The tax stories that peaked our interest this week included the following: new online sales tax law challenged by some states, the differences between Offer in Compromise and Installment Agreement, musician Jack White’s generous tax payment for the Detroit’s Masonic Theater, recordkeeping tips from the IRS and Beyoncé’s father and his massive tax debt. Just in case you missed any posts, here’s a recap:
Internet Tax Law Challenged by Team of
[Read More]

Internet Tax Law Challenged by Team of Attorneys General

Thursday, June 13th, 2013

Well, it looks like some states are not taking the new internet sales tax regulations lying down. According to the Washington Post article titled: “Attorneys general from 3 states without sales taxes urge House to vote down Internet tax bill“, the attorneys general from Montana, Alaska and Oregon all sent letters to U.S. House representatives Wednesday urging them to oppose an Internet tax bill. They allege that the measure is
[Read More]

Musician Jack White Pays 142k Tax Bill for Detroit Landmark

Tuesday, June 11th, 2013

If there were tax angels, musician Jack White would be one of them. According to the Detroit Free Press, it appears that the anonymous benefactor who recently paid $142,000 of the Detroit’s Masonic Temple’s back taxes was none other than musician Jack White. White played at the Masonic twice as a solo artist and seven times with his former band, the White Stripes.
The article mentions that White was born in
[Read More]

Tax Resolution Services Success Story – Client Saves $30k

Friday, June 7th, 2013

Sharing client success stories is important because it shows that IRS tax problems can happen to anyone including hard-working honest people, often through no fault of their own.
A new video clip on The Blaze TV highlights a viewer who called Tax Resolution Services, Co. (TRS) after hearing Host Glenn Beck talk about client success stories on his program. This viewer owed more than $33,000 in back taxes but TRS was able
[Read More]

National Tax Expert Disputes Talk of IRS Audit Decreases

Friday, May 31st, 2013

I wrote this latest press release after reading a CNN Money article titled “Spending cut bright spot: Fewer IRS audits.” I needed to dispute the article’s assertion that there would be fewer questioned tax returns as a result of the sequestering budget by Congress. The CNN article states that over $600 million in cuts to the IRS could result in IRS employee layoffs including examiners who audit tax returns. I agree
[Read More]

Tax Relief Weekly News Round Up-Top Tax Stories

Friday, May 31st, 2013

This was a short, yet busy week for tax relief news. Stories ranged from celebrity tax woes and prison sentences for tax evaders to tax tips and benefits for military personnel.
Actor Chris Tucker Pays Nearly $1 Million toward Tax Debt – Chris Tucker has been in the spotlight over the last few years, not so much for his talent but sadly, for his huge $12 million tax debt. A recent
[Read More]

Actor Chris Tucker Pays Nearly $1 Million toward Tax Debt

Thursday, May 30th, 2013

It appears actor and comedian, Chris Tucker is taking a bite out of his huge $12 million dollar tax debt. According to a TMZ.com article titled: “Chris Tucker’s Tax Debt – $1,000,000 Down, 12 More to Go!“, it seems that the actor recently wrote checks totaling $985.028.98 to pay off two Georgia state tax liens: one for $592,594.82 for tax year 2007 and $392,332.16 for tax year 2006.
We reported in
[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]