The U.S. Treasury Department announced this week a proposal for new regulations intended to make it easier for overseas banks to comply with Foreign Account Tax Compliance Act, or FATCA requirements.
An article in Reuters U.S. enlists 5 EU nations in offshore tax crackdown explains these proposals as the U.S. Government not only addressing concerns of foreign financial institutions regarding the Foreign Account Tax Compliance Act, or FATCA, but also the
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Two articles recently published in the Wall Street Journal demonstrate that current Swiss offshore collection tactics are working to bring Swiss banks and American account holders into U.S. tax compliance. The latest bank to feel the heat of enforcement efforts is the Julius Baer Group, the largest private bank in Switzerland.  Julius Baer, hoping to avoid U.S. indictment, is already preparing to incur stiff fines from U.S. authorities for hiding
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Question: I’ve been struggling with IRS debt for a couple of years now. How do I know whether the Offer in Compromise or Installment Agreement is the right program for me?

Answer: Ultimately you’ll need to consult in person with a qualified tax professional to find out exactly whether the Offer in Compromise or Installment Agreement is right for you, but it might help if you understand each program and
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Question: I’m really behind on my taxes, and now I’m getting letters from the IRS. I’m having trouble sleeping. I don’t know how I can pay this tax debt. I also have a mortgage and my daughter starts college next year. How can you help?

Answer: I know that feeling. I know what you’re thinking and why you’re worried. The reason for that is because I’ve had so many clients
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I’m Michael Rozbruch, a Certified Tax Resolution Specialist, Founder and CEO of Tax Resolution Services. Consumers come to us everyday for tax relief help, especially when it comes to settling back taxes. Some people have heard of the Offer in Compromise program – though not everyone qualifies. Below is a recent question from one of our clients about settling tax debt, and my answer follows, which may be insightful for
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Tax questions from people facing tax problems are common in our office.  Here is a question from a person owing back taxes and our advice on what can be done.
Question: I closed my business a year ago, and then I took some bad advice. I just found out I owe a lot in back taxes, and I’m feeling hopeless and helpless. What can I do?

Answer: Let me first assure
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Many of our clients at Tax Resolution Services inquire about the Offer in Compromise program - a program established by the IRS to help consumers settle tax debt, usually at a fraction of what they owe.  What most people don’t know is that the Offer in Compromise is a privilege set forth by the IRS and that a person needs to qualify for this program.  How does someone qualify?   Read more from the IRS Question Corner of
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I blog about tax evasion cases almost daily on my tax blog!  Why, you may ask?  Because I am trying to highlight that no matter how rich, or how poor, how famous, or non-famous, someone is does not matter to the IRS.  The IRS wants their taxes and they will come after you, if not today, than some time in the future.  Who wants to live constantly looking over their
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Do you think that only celebrities get targeted for tax evasion?  Not true! The IRS will come after you – famous or not – if you are cheating on your taxes, especially if you are making millions.  I’ve blogged about how the IRS is zooming in on tax cheats in the millionaire category and the following article supports that case:
A Colorado loan preparer has pleaded guilty to tax evasion, admitting
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Tax day has come and gone.  Do you find yourself fretting about back taxes owed and wondering how you are going to pay them off?  You are not alone!  At Tax Resolution Services, we get inquiries everyday about settling back taxes and what tax help services are available.  The questions below are perfect examples – and the answer is from one of our Certified Tax Resolution Specialists:
Question: How do I know if
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Today’s Tax Resolution Tip:
If you owe the IRS a large amount of money and can’t afford to pay the lump sum at once, don’t panic. Consider an Installment Agreement, which is a payment plan used to break up payment on a monthly basis. This is a common route taken by qualifying consumers to settle their back taxes.

Read the Installment Agreement FAQ for more information on IRS Payment Plans and Installment
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Ian Prout, 38, of Essex, Conn., was sentenced to three months in prison, to be followed by one year of supervised release, for failing to report more than $250,000 in income on his federal tax returns between 2005 and 2007.
According to court records, Prout was a self-employed race car specialist. Typically, Prout rented the facilities for the weekend and was paid to teach high-performance car owners how to drive and
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Many people don’t know that the IRS will work with you if you owe back taxes and feel that you cannot afford to pay them all at once.  For many of our clients at Tax Resolution Services, we have set up an IRS Installment Agreement plan, simply known as an IRS Payment Plan, which is an arrangement a consumer enters into with the IRS to pay back taxes owed.  This allows the person to
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Do you owe back taxes and feel panicked about how you are going to pay them?  At Tax Resolution Services we meet clients everyday who feel this way.  By seeking out professional tax services, they have started on the right road to tax relief.  Although ignoring your back tax problem may be tempting, it’s not the right thing to do.  And eventually the IRS will catch up to you.  Even
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At Tax Resolution Services, we see many consumers who are concerned about how to pay their current taxes owed in addition to any back taxes, interest and penalties they may have accrued for unpaid tax debt.  We reassure them that there are tax relief resolutions available to them.  Our team of Certified Tax Resolution Specialists, tax attorneys, and CPAs find solutions for each and every consumer tax problem that is
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