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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As an independent contractor, Sharon fell behind on her quarterly estimated taxes, resulting in penalties and back taxes totaling $93,000. When Sharon knew she would never be able to catch up she turned to Tax Resolution Services to help negotiate down her penalties, saving her around $70,000 dollars. You can listen to Sharon’s story below to hear how Tax Resolution Services helped her:
Tax Resolution Service Client Testimonial: Sharon

If you are
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As a self employed individual trying to make it, Sharon ran into huge IRS problems when she fell behind on her quarterly estimated tax payments. The penalties were horrific and in the end Sharon ended up owing around $93,000 dollars in back taxes and fines. That’s when Sharon decided to call Brian at Tax Resolution Services.  TRS stepped in to take over Sharon’s dealing with the IRS and we were
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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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I took a short break from tax resolution this week to travel from Los Angeles to Florida.
I was able to meet Rush Limbaugh – one of Tax Resolution Services’ endorsers.  He says:
“You don’t want to fight this fight alone. You need experts. You need Tax Resolution Services, Co. If you owe $20,000 or more in back taxes, are under audit, or have unfiled returns, they can help.” – Rush Limbaugh

One of the most effective ways to eliminate back taxes is through the Expiration of Back Taxes: Statute of Limitations on IRS Collections tax resolution option. This option is particularly useful for eliminating tax debt if the back taxes have been assessed against you years ago.
You may be surprised to hear that it is a fact that the IRS is prohibited, by law, from collecting on expired back taxes.
Generally, the
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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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I was recently interviewed by BusinessNewsDaily for their CEO Roundtable “How Do You Innovate?” and I enjoyed sharing my thoughts on how innovation plays a part in my business.
Small businesses rely on innovation – and by “innovation” it doesn’t necessarily mean technology. Whether in your office, on your laptop or Blackberry, or your day-to-day management, innovation is the wheel that drives a business forward. However, how this translates into the daily issues facing
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This is a good, logical question that many taxpayers have, understandably, asked before. The answer is a definitive ‘no’.
The IRS have had a considerable boost in their enforcement budget, allowing them to pursue all tax delinquencies, both personal and business finances. In many circumstances, the IRS is willing to accept less than the total amount owed by taxpayers, in order to bring them back into compliance. Usually these agreements are made with the help
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As the economy begins to slowly rebound, there are some 26 million Americans plagued with tax problems including audit or collection-related issues. And with the IRS collection efforts on the rise supported by a record enforcement budget of $5.5 billion, Americans need to know their rights and options for tax relief.
While taxpayers may always represent themselves in front of the IRS, many turn to professional tax help (a specialized tax
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What’s worse than having IRS tax problems? How about ending up with even more tax problems and less money? As horrific as this scenario sounds, it happens to more average taxpayers every day as tax relief companies are actually scamming distressed taxpayers instead of helping them.
I was recently quoted in an AOL Daily Finance article: “Have Tax Problems? A Tax-Relief Firm May Only Add to Them” by Sheryl Nance-Nash about
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When you are working to resolve your back taxes, your definition of “success” will depend on the specifics of your situation. Some taxpayers find success in lowering their tax bill. However, not everyone is eligible to pay “pennies on the dollar” on their IRS back taxes, and in many cases, preventing or halting debilitating IRS collection tactics is vital to help struggling taxpayers preserve their finances to the greatest degree
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Sometimes back taxes happen to good people. If you owe the IRS money for unpaid taxes, then you are probably feeling overwhelmed by the desire to stick your head in the sand and are in desperate need of professional back tax help. If you owe back taxes you can’t afford to pay, don’t panic. Check out these insider tax tips that can help you obtain immediate tax relief to help
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One of our clients, Brenda V., a taxpayer from West Covina, CA, owed 6 years’ worth of back taxes to the IRS –  amounting to more than $38,000 before qualifying for a tax settlement of $582 through the IRS Offer in Compromise (OIC) program. The OIC program enables a taxpayer without the means to pay off IRS debt to permanently settle that debt for less than the amount owed.
Brenda V.
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