Archive for the ‘IRS Overview’ Category

IRS Faces Potential Tax Issues-Affordable Care Act

Thursday, July 12th, 2012

The June 28 Supreme Court decision to uphold most of the Affordable Care Act (ACA) has been a hot tax topics in recent weeks.  This decision will impact most American taxpayers. As a certified tax resolution specialist that helps clients avoid IRS tax issues, new expanded IRS powers are of particular interest to me. A recent Washington Post article entitled Supreme Court’s decision renews questions about IRS capability to enforce
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Tax Expert Leads Free Webcast for Tax Practitioners

Tuesday, May 8th, 2012

Eva Rosenberg is known as the TaxMama®, giving out much needed tax information to those in trouble with the IRS and doing all of it with a mother’s touch.
Tomorrow, Wednesday May 9th at 12:00pm (Pacific) it’s time for me, the TaxMan to meet the TaxMama and deliver sound advice through a complimentary (that’s FREE) live webcast. The topic we’ll be focusing on is “IRS Practice: Overview of Collection Issues.”
If you
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Income Tax: Wars, the Supreme Court and Donald Duck

Friday, March 23rd, 2012

“How the U.S. wound up with the income tax is the story of two wars, a Supreme Court justice on his death bed, and Donald Duck” begins an article from NPR’s Planet Money Team entitled From Abe Lincoln to Donald Duck, the Story of the Income Tax. This interesting article illuminates the obstacles income taxes faced so that ultimately every citizen was responsible to pay their share to help the
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Tax Relief News: Joint Tax Committee Releases Top 10 Tax Expenditures

Wednesday, August 3rd, 2011

The Joint Tax Committee recently released their list of Estimates of Federal Tax Expenditures for Fiscal Years 2009-2013. The Joint Committee on Taxation is a nonpartisan committee of the United States Congress who assists Members of the majority and minority parties in both houses of Congress on tax legislation (see the website here). In Congress tax expenditures are what we like to call tax breaks or deductions;  the tax rules
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Tax Problem Tip: The Difference Between IRS ROs, RAs and Special Agents

Thursday, July 21st, 2011

Tax problems are no laughing matter. Hiding under a rock is not the answer.  If you fail respond to letters and notices from the IRS, an agent or officer may be assigned to your case for the purpose locating you and collecting the tax.  IRS Agents may come to your home or place of business.  They may also contact friends, neighbors, relatives, co-workers, business associates and colleagues.
It is important to
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How to Get IRS Tax Relief from Back Taxes or Unfiled Tax Returns

Friday, May 28th, 2010

With the IRS enforcement budget reaching a record $5.5 billion, more Americans than ever will need to know their options for income tax relief and IRS help to resolve IRS problems and avoid financially debilitating penalties and levies. If you owe back taxes or have several years of unfiled tax returns, here are a few tips to help you get the IRS tax relief you need.
You can run, but you
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Tax Help Tips: Tax Deductions You Should Not Forget to Claim-Thursday, April 1st at 1:40pm PST

Monday, March 29th, 2010

Are you taking full advantage of your allowable tax deductions? Have you saved as much as you possibly could on your 2010 tax bill?
Join us this Thursday, April 1st on the Big Biz Show at 1:40pm PST to hear part one of what Brian Compton has to share on the tax deductions you should not forget to claim.
By taking advantage of your allowable tax deductions, you can save hundreds of
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Don’t Miss Tax Help Tips on Bankruptcy From Nation’s Leading Tax Expert Brian Compton on the Big Biz Show-Thursday, March 18th at 1:40pm PST

Tuesday, March 16th, 2010

Did you know that the IRS does not like to talk about the use of bankruptcy to remove tax liabilities, but the reality is that many IRS taxes, penalties and interest do qualify for complete 100% discharge in bankruptcy?
The IRS is not able to collect on expired back taxes. The IRS has 10 years from the date of assessment (usually close to the filing date) to collect back taxes.
Don’t miss
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Offer in Compromise: How to Get the Tax Help You Need Through an IRS Offer in Compromise

Tuesday, March 9th, 2010

The IRS  Offer in Compromise (OIC) program is designed for struggling taxpayers who, for whatever reason, are absolutely incapable of paying off their tax debt in full. It can be a powerful tool in helping you permanently eliminate your tax debt. If you owe back taxes to the IRS and you are unable to pay the debt in full, you may be eligible for tax relief through the offer in
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Tax Resolution News: IRS Warns Against Frivolous Tax Arguments That Can Incur Severe Penalties

Thursday, March 4th, 2010

Did someone tell you that filing taxes is voluntary? That only foreign-source income is taxable? You better read about today’s frivolous tax arguments.
If you’re receiving tax advice that sounds otherworldly, it no doubt is.
Maybe someone finally told you that filing your income tax return and paying taxes every year are voluntary? You were a sucker all these year, filing returns and paying taxes, weren’t you?
Well, no. You’d be a sucker
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Tax Help: Nation’s Leading Tax Relief Expert Shares Tips on How Small Businesses Can Avoid IRS Audits

Wednesday, March 3rd, 2010

This week, the nation’s leading tax expert Brian Compton, president of Tax Resolution Services, chatted with Caz Taylor and Ruben Garcia on SBA Radio to share some great tax help tips for small business owners on how to avoid IRS audits.
As the tax filing deadline draws nearer, many small businesses already struggling with the state of the economy must face yet another challenge–filing and paying taxes.
It has been reported that
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Tax Help News: IRS Enforcement to Get Priority, Big Bucks in 2010

Tuesday, February 2nd, 2010

Congress is sending another $12.2 billion to the IRS this year. Most of the money will be used for enforcement. It’s time to watch out.
The United States Congress is finally putting to use the old cliché: its money where its mouth is.
That is to say, while Congress has always had a loud bark regarding tax cheats, its members haven’t always been eager to spend money on the bite.
That changed in
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Tax Help For Individual Taxpayers to Take Advantage of Expiring Tax Incentives to Save Money Whiling Planning For Taxes in 2010

Saturday, December 26th, 2009

As 2009 draws to a close, it’s time to start planning your 2010 taxes. A good place to start is to educate yourself on the latest tax law changes so that you can successfully plan your 2010 taxes in advance. There are still plenty of soon-to-expire tax incentives that you can take advantage of before it’s too late. Also, if your financial situation has changed (loss of a job, closing
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Tax Hikes in 2010 Expected to Fund Health Care Reform-Brian Compton Shares Thoughts With CNBC

Tuesday, December 15th, 2009

As 2009 draws to a close, taxpayers may be growing anxious about what to expect in 2010 in terms of tax policy changes. With the current economy still dragging its feet, it is highly likely that tax raises are on the horizon–especially if the health care bill passes.
My associate, Brian Compton (tax expert and president of Tax Resolution Services) was recently interviewed by CNBC for their article on “Death-Health Care
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Get the IRS Tax Benefits You’re Entitled to and Avoid Tax Penalties by Documenting Your Business Expenses

Monday, July 13th, 2009

Keeping a consistent and clear record of your business expenditures is not only good business practice; it will also ensure you to receive the full amount of tax deductibles to which you are entitled. If you use your car for your business, it is extremely crucial for you to keep a clear record of the mileages you drive for your business each time you use it.
Recently, a self-employed individual was
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