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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Question:
I have several years of unfiled tax returns and owe around $25 thousand dollars in back taxes to the IRS for my small business. I know I need to take care of this huge burden but I’m overwhelmed, what help is out there get me out of this mess?
Answer:
First, addressing your IRS tax issues right now is the first step towards finding the tax relief you need. There is a
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It is always a pleasure to be able to speak to others about the work I do as a tax resolution expert.
I recently had the unique opportunity to be interviewed by Opportunist Magazine’s Managing Editor, Leslie Stone for her article Talking With the Tax Expert-Michael Rozbruch.  She asked about the business of tax resolution, a subject of which I am WELL informed. The questions ranged from how my early business
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The Internal Revenue Service recently proposed new guidelines aimed at providing tax relief for more innocent spouses who request equitable relief from their income tax liability. A Forbes article entitled IRS Lowers The Bar For Innocent Spouse Relief, details how the new proposals address the criteria used in making innocent spouse relief determinations in equitable relief cases and adjust the factors used in granting equitable relief.
Since 2003, the Internal Revenue
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An article from TMZ titled Lil’ Kim Breaks the Million Dollar Tax Lien Mark reported on rapper Lil Kim and her current $1,026,862.42 IRS tax lien. Lil’ Kim appears to be no stranger to tax troubles as hers are well documented and stretch out over a ten year period. A spokesperson for Lil’ Kim said that she “hired professional attorneys to handle this matter” and that “she, along with her
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The latest chapter of the IRS versus the Swiss Banks, reveals U.S. Prosecutors taking on the oldest Swiss bank of them all: Wegelin & Co.,
An article in the Wall Street Journal entitled Swiss Bank Wegelin Indicted on U.S. Tax Charges, outlines the criminal charges filed by U.S. Prosecutors on February 2, 2012 against Wegelin & Co., Switzerland’s oldest bank (founded in 1741) alleging that Wegelin knowingly aided wealthy Americans in
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The National Oceanic and Atmospheric Administration (NOAA) reported 12 natural disasters in 2011 that each caused more than $1 billion in damages, ranging from Hurricane Irene, to severe wildfires, tornadoes and flooding.  As the victims of these disasters rebuild their lives from utter destruction, this tax season many are receiving IRS tax help.
USA Today’s article Tax Relief Possible for Losses in Natural Disasters reports the good news that taxpayers affected
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While cutting government spending is often seen as a good thing, in the case of the IRS, it may be having the opposite effect. Forbes featured an article IRS Advocate: New Taxpayer Rights Crisis Is Brewing highlighting the release of a recent annual report to Congress by National Taxpayer Advocate, Nina E. Olson. Olson, known for being one of Washington’s most outspoken officials, states her concerns for current IRS policies
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Many Americans like preparing their taxes every year; it helps them feel in control of their finances and they don’t want to pay someone else to do it. With a tough economy still lurking and the availability of low-cost often free tax preparation software, many are inclined to cut their basic costs, and doing their own taxes is one place they believe they can save. If a taxpayer has a
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Question: I’ve read that you can greatly reduce your tax debt by signing up for an Offer in Compromise? What is that, and how can I sign up?

Answer: Great questions. In fact, those are the types of questions I’ve seen change the lives of tax clients.
I know that sounds ridiculous. But it’s true.
Here’s why: For taxpayers in substantial debt to the IRS, an Offer in Compromise can eliminate that
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Like an emergency facility does for an incoming patient, we deal with our client’s immediate tax problems by assessing their individual situation and then taking the necessary steps to relieve their burden of stressful tax related issues. I talked about this (see video below) at Tax Resolution Services, Co. headquarters but wanted to expand on it more here on our Tax Resolution University blog.
The current economic climate has contributed to
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Latest edition of tax help news covering all things tax, from small business tax break checklists to furry feline tax court. This week we’ve Stumble(d)Upon the following tax news and cases:
The Real World: Tax Tips for Summer Workers – Is your son or daughter still looking for a job this summer? Consider employing them for your business and save big time on taxes! Check out this checklist for tax-saving tips as posted
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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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Check out this week’s edition of Tax Help News Round Up – bringing you news for anything and everything tax! At Tax Resolution Services, Co. we offer expert tax help not only by fighting on your behalf to settle back taxes and resolve any IRS debt, but we strive to educate consumers on tax news and developments to be aware of. The tax world is not stagnant – just because
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I was recently quoted in the Fiscal Times article “Tax Bill Blues: What to do if You Can’t Pay the IRS.” Writer Emma Johnson explores how American consumers can feel paralyzed with anxiety when they are looking at a big tax bill but just don’t have the cast to pay it. She also emphasizes the importance of taking action – because ignoring the problem is only going to make  the Internal
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