Archive for the ‘Offers in Compromise’ Category

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]

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]

Tax Relief News Round Up: Top IRS Tax Stories this Week

Friday, May 10th, 2013

This was a busy week in tax relief and IRS news. The stories that caught our attention ranged from how long to keep IRS tax records, to celebrity tax woes and finding tax debt solutions to the pro’s and cons of IRS prepared returns.
This week started with a helpful post titled: Tax Relief Tips for How Long to Keep IRS Records. A general rule of thumb guideline suggests that
[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 Experts Give Free Webcast on IRS Collection Issues

Friday, April 26th, 2013

Tax practitioners who would like to develop skills to prevent and or resolve IRS collections are invited to join tax expert Eva Rosenberg, aka TaxMama® and yours truly for a complimentary webcast titled: “IRS Practice – Overview of Collection Issues. This course (part of the IRS Practice Series) provides an overview of the collections process and explores the numerous collection issues a practitioner may encounter including the
[Read More]

Tax Expert on Finding a Qualified Tax Resolution Specialist

Monday, April 22nd, 2013

Just because the April 15 tax deadline passed doesn’t mean people who owe back taxes should stand idly by. It’s time to “man up” to the challenge and resolve your IRS tax issues with the help of an expert tax resolution professional. But who do you choose? On a video episode from the Midday Sunday Fox 11 with host Tony Valdez program, I explain how the tax resolution industry has
[Read More]

Tax Tips for Taxpayers Who Missed the April 15 Deadline

Tuesday, April 16th, 2013

It’s the day after tax day and for those taxpayers who don’t intend on filing a tax return, you may want to reconsider. Not filing means you will be facing significant IRS tax issues. Failure to file is considered a misdemeanor that can be punishable up to $10,000 per year and one year in jail. In fact, IRS penalties are more severe for non-filing than for non-payment. If it sounds
[Read More]

Offer in Compromise Saves Tax Client Over $100,000

Monday, April 8th, 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. Brian C.
Mr. Brian C. owed the IRS $148,000 in back taxes when he sought help.  After several months of negotiations, we were
[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]

Tax Expert Discusses Tax Professionals and Tax Software

Monday, March 25th, 2013

Some of you may still be deciding whether to hire a tax professional or purchase tax preparation software. In this informative video, (one part of a series that came from my appearance on the Midday Sunday Fox 11 with host Tony Valdez program), I offer the following tax help tips:

When tax preparation software works
Know when it’s time to hire a tax professional
When it’s time to hire a tax resolution specialist

(Below
[Read More]

Tax Client Settles Debt Through Offer in Compromise Program

Saturday, March 16th, 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 Ms. Debra W.
Ms. Debra W. owed the IRS over $73,000 in back taxes. After several months of negotiations, we were able to settle
[Read More]

Tax Resolution Services-The Week in Tax Relief News

Friday, March 15th, 2013

Let’s recap the tax relief news we covered this week. Featured topics were: eliminating joint filing to help innocent spouses, Florida brothers sentenced for tax evasion, ways to pay your back taxes, IRS tax scams and schemes to avoid, and the Southland Better Business Bureau (BBB) LA Chapter gets expelled for “pay to play” practices.
Joint Tax Filing Thought to Help Innocent Spouses
I wrote a post titled Eliminating Joint Tax Filing
[Read More]

IRS Question: How Do I Pay Off My Back Taxes?

Tuesday, March 12th, 2013

Question: I need to do my taxes for 2012, and I just don’t know what to do! I owe back taxes already, and I don’t think I can pay them. Now, this year, I’m sure I’ll just add to that tax debt. I don’t see how I can get out from under it. What options do I have?

Answer: Your situation is a tough one, but you’re asking the
[Read More]

Tax Day Is Coming. Are You Ready?

Monday, March 4th, 2013

If you are in tax debt and worried about your future, it’s time to see a professional.
———————————-
It’s coming — next month.
The dreaded Tax Day.
For some, it’s the worst day on the calendar.
Why?
Because they have tax debt.
Or they are under government scrutiny.
Or they are cheating — perhaps they prefer the term fudging? — their taxes and are concerned about getting caught.
Are you one of these U.S. consumers?
If so, you have reason
[Read More]

Pay Off Tax Debt with Offer in Compromise or Installment Agreement?

Monday, February 18th, 2013

Question: I know I have a huge tax debt. And I know I need to do something about it. I probably should see a professional. But in the meantime, I’ve been trying to do my own research, and I’m stuck. I just don’t understand the difference between the Offer in Compromise and the Installment Agreement.

Answer: Admitting that your tax debt is a problem and acknowledging that you should
[Read More]