Archive for the ‘Offers in Compromise’ Category

“Man Up” to Your IRS Tax Problems

Tuesday, July 26th, 2011

The “Be A Man” slogan (seen in the video below) is the advertising tagline that I used when starting Tax Resolution Services. The burnout performance by my co-star, the 1968 Oldsmobile 442, emphasizes the serious point of tax problem avoidance.
Unlike a classic muscle car that gets more valuable with age, tax issues, if not dealt with promptly, only get worse.
“Be A Man” simply means that
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Offer in Compromise Program Saves Tax Client of the Month$49,000

Sunday, July 17th, 2011

Every month 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 Tax Resolution Services with referrals, word of mouth and repeat business.
This month’s Tax Client Of The Month is Mr. Shawn M.
Mr. Shawn M. owed the IRS close to $50,000 in back taxes. Our negotiations and advocacy resulted in the IRS accepting a settlement of
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FBAR Filing Deadline around the Corner

Monday, June 27th, 2011

The FBAR… anyone familiar with that term?  I would assume that most people aren’t, so let me explain. The FBAR is an acronym for the Report of Foreign Bank and Financial Accounts and is actually a form known as the TD F 90-22.1, a pdf directly downloadable from the IRS for your filing convenience.  Kelly Phillips Erb, aka: Tax Girl,  wrote an article for Forbes online explaining the important
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Back Taxes Owed by ‘Celebrity Apprentice’ Star Marlee Matlin

Tuesday, June 7th, 2011

Back tax debt happens to many people.  The IRS does not discriminate – they aim to collect overdue taxes from everyone, including celebrities.

One of the stars of Celebrity Apprentice owes the Internal Revenue Service $50,000 in back taxes.

Actress Marlee Matlin, 45, told People magazine that she is negotiating a payment arrangement with the IRS. She and her husband, a Burbank, Calif., police officer, are also trying to sell their five-bedroom home
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The IRS Offer in Compromise Program Can Resolve Tax Debt for Qualifying Consumers

Wednesday, May 18th, 2011

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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IRS Offer in Compromise Program Saves Tax Client Over $30,000

Monday, May 16th, 2011

Every month Tax Resolution Services chooses 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. Anita W.
Ms. Anita W. owed the IRS over $32,000 in back taxes. Our negotiations and advocacy resulted in the IRS accepting a settlement of just $1,793.00 via the federal government’s
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Tax Expert Educates About Offer in Compromise and IRS Installment Agreement Plans

Wednesday, April 20th, 2011

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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IRS Offer in Compromise Program Saves Tax Client $26,000

Sunday, April 17th, 2011

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 Tax Resolution Services with referrals, word of mouth and repeat business.
This month’s Tax Client Of The Month is Mr. Markos G.
Mr. Markos G. owed the IRS over $27,000 in back taxes when he sought our help. After several months of negotiations, our team of tax professionals was
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Tax Help on Big Biz Show: 7 Things Business Owners Must Know About Payroll Taxes

Tuesday, March 22nd, 2011

Last week I appeared on the Big Biz Show to continue the Tax Resolution Tax Day Countdown with Russ & Sully to talk about the 7 top things business owners must know about payroll tax problems.
The IRS assigns a much higher priority to the collection of payroll taxes mainly because at the end of the year, most employees can claim the taxes deducted on their W-2s as a credit and
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Filing False Tax Return Drives Race Car Specialist to Prison Finish Line

Tuesday, March 22nd, 2011

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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Tax Client of the Month Saves Over $35,000 From The IRS Offer in Compromise

Friday, March 18th, 2011

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 tax relief business with referrals, word of mouth and repeat business.
This month’s Tax Client of the Month is Ms. Jennifer C.
Jennifer owed the IRS over $38K in back taxes when she sought our help.  After several months of negotiations, we were able to settle
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IRS Announces Effort to Help Struggling Consumers Get a Fresh Start

Saturday, March 12th, 2011

I recently mentioned the new effort by the IRS  to help consumers with delinquent back taxes avoid tax liens and become compliant in these economically challenging times.
While these tax relief efforts from the IRS would seem to be welcome news, we tax resolution experts have little hope that these changes will result in much of a break for the consumers who need it most.
Here’s why: from my experience, I have
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Tax Professionals Offer Tax Relief Solutions For Back Taxes Owed

Monday, March 7th, 2011

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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Tax Relief Expert Breaks Down Changes to IRS Lien Process For Struggling Consumers on Big Biz Show

Monday, March 7th, 2011

As I continue my weekly appearances on the Big Biz Show for the Tax Resolution Tax Day Countdown, I sat down last week for a chat about the latest IRS announcement to offer tax relief for struggling consumers by making changes to the lien process.
We’ve heard this before: the IRS is kinder and gentler by promising to speed up tax relief for homeowners who are looking to refinance (2008) and
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Tax Relief News: IRS Announces 2011 Limited Amnesty Program for Offshore Account Holders

Friday, February 18th, 2011

When the IRS announced in 2009 a limited amnesty program for those with offshore accounts, the response was overwhelming—some 15,000 consumers came forward to disclose undeclared funds in foreign accounts, pay the piper, and become compliant. In all, the IRS netted $400 million. Buoyed by its success, the IRS has now announced a second chance at offshore tax amnesty.
As reported by the Wall Street Journal, consumers holding undisclosed offshore accounts
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