Question: I owe a lot of money to the IRS, and having just filed my taxes for 2012, I owe even more! I need to do something, and soon. How do I know if I qualify for the Offer in Compromise program?

Answer: The Offer in Compromise is a great program for consumers who owe a substantial amount to the IRS but who cannot pay off their tax debt, even
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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
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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
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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
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Apparently, Lauryn Hill’s “Miseducation” may relate to how badly she handled her IRS tax problems. According to Accounting Today’s article titled: Fugees Singer Lauryn Hill Sentenced to Prison for Tax Evasion, Hill was sentenced Monday to three months in prison plus three months home confinement for failing to file tax returns for five years and not reporting more than $2.3 million in income. The article explains the terms of her
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Every year after the tax day, clients inquire as to what tax documents they need to keep and for how long. Last tax season I wrote a blog post on the subject, inspired by a Forbes article by Tax Girl, Kelly Phillips Erb titled: “How Long Should You Keep Records after Tax Day?” I thought the information would be helpful for those who may be wondering what documents to hold
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Many of us who have worked tirelessly to restore the credibility of the tax resolution industry were pleased to hear our efforts commended by the IRS’ Office of Professional Responsibility (“OPR”). Yesterday’s press release mentioned news of the OPR’s review of the National Association of Tax Resolution Companies (NATRC) code of conduct, and how it was commending the organization in a follow up letter for establishing meaningful standards for its
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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
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I came across an interesting Fiscal Times article titled: “High Income, No Taxes: How Big Money Beats the IRS“. The article highlights an IRS report written by economist Justin Bryan that provides comprehensive data on the number of taxpayers who make more than $200,000 and pay zero income taxes.
The report contains detailed data and summary data for the period 1977 to 2008 as well as charts and graphs of almost 4
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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
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With just 13 days until Tax Day, I thought many of you might need some tax relief humor. The article from @TodayMoney titled: “Happy birthday, modern tax system: 100 toasts and roasts“ could be just what the accountant ordered if you are agonizing over preparing your taxes. Here are some historical points of interest from the article about how our current tax system came into existence:

The current tax system was formalized
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Thanks to Frank Byrt at The Street, we learned that the IRS announced the release of their “2012 Internal Revenue Service Data Book [1],” This annual report provides an overview of agency activities, including information and statistical tables dating from October 1, 2011, to September 30, 2012. The report provides helpful data and information on the following: returns filed, taxes collected, enforcement actions, taxpayer assistance, IRS budget and workforce, and
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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
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I wrote a Tax Matters post last week on the news that 311,566 federal workers (including retirees) owe over $3.5 billion in back taxes. Many of the details came from both Forbes and MSN who reported on this story. While this topic is quite galling in many respects, the simple fact remains; more government employees with presumably decent incomes are struggling to pay their tax debt and need tax relief.
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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
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