Times are rough and no IRS debt is too small to justify a personal visit.
In recent news, two IRS agents showed up at a Sacramento car wash in pursuit of 4 cents. The business owner found this comical because it demonstrated a poor sense of IRS priorities–are there really no bigger fish out there to fry?
According to the Sacramento Bee, “penalties and taxes accruing on the debt - stemming from
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With the rise in unemployment, less people are expected to file their taxes by the April 15th deadline.
H&R Block recently announced that year-to-date tax returns prepared have fallen by 8.2% from the prior year. While some taxpayers are opting to prepare their taxes themselves or using tax preparation software to save on fees, there are also many Americans who simply can’t afford to pay their taxes.
There are many reasons why
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Our team at TRS recently helped Charles M., a man from Shreveport, LA, who owed the IRS over $5 million in back taxes, interest, and penalties settle his IRS debt for just under $14,000 by qualifying for an Offer in Compromise tax settlement.
Taxpayers should know that the IRS Offer in Compromise process is a complex and time-consuming procedure. While the IRS typically rejects a high percentage of Offers, you
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While the IRS announced it will loosen its rules for negotiating tax settlements to help recession-burdened Americans struggling to meet their tax obligations this year, the reality is that the IRS is still the most unrelenting collection agency on the planet.
Distressed taxpayers who want to take advantage of this unique opportunity to resolve their IRS debt will be required to provide full financial disclosure - and if they plan to
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Many small business owners are feeling the heat with the struggling economy this tax season; on top of worrying about how to pay the bills just to keep the lights on, they have to figure out how to make payroll taxes in order to avoid harsh IRS penalties.
While it may be tempting to skip payroll tax payments in order to keep business doors open, not paying the IRS what you
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Did you know that if you owe the IRS back taxes, you still have a right to file a delinquent tax return, no matter how late?  If you knowingly did not file taxes last year, or years before that, and the IRS has not contacted you (yet!), it would be wise to settle back taxes before you end up like this Nebraska couple, who will be facing a hefty fine
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Did you know that the IRS does not like to talk about the use of bankruptcy to remove tax liabilities, but the reality is that many IRS taxes, penalties and interest do qualify for complete 100% discharge in bankruptcy?
The IRS is not able to collect on expired back taxes. The IRS has 10 years from the date of assessment (usually close to the filing date) to collect back taxes.
Don’t miss
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Taxpayers with foreign funds may have felt the heat back last summer when UBS struck a deal with the US government to release some 4,500 names of American bank account holders to the IRS. That frenzy may seem far back in the past now but this wave of aggressive tax evasion crackdown is nowhere near over.
Recently, Wall Street Journal reported that UBS is increasing its lobbying efforts for the Swiss government
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An experienced tax attorney or Certified Tax Resolution Specialist (CTRS) can help taxpayers secure offer in compromise settlements, IRS payment plans, penalty abatement, innocent spouse relief, release of liens or levies, non-filer issues and many other tax settlements. Before you hire professional tax help for resolving your IRS problems, you need to get informed on how to choose a good tax relief expert.
While taxpayers are allowed to represent themselves before
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The economy has been tough on a lot of taxpayers this year. Whether you are a small business owner or you’re employed but short on funds, you are not alone in your financial struggle.
So what do you do this tax season if you can’t gather up enough cash to pay what you owe Uncle Sam? Do you file an extension? Do you “ignore” your taxes in hopes that the IRS
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As Congress allocates another $12.2 billion to hire 2,000 more tax collectors, more Americans than ever will need professional tax relief to resolve back taxes, unfiled returns, and IRS audits.
In the weeks leading up to Tax Day on April 15, more struggling taxpayers facing IRS debt are seeking relief from their tax troubles during a record year for federal spending on tax enforcement. Glenn Beck, one of America’s leading
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The IRS  Offer in Compromise (OIC) program is designed for struggling taxpayers who, for whatever reason, are absolutely incapable of paying off their tax debt in full. It can be a powerful tool in helping you permanently eliminate your tax debt. If you owe back taxes to the IRS and you are unable to pay the debt in full, you may be eligible for tax relief through the offer in
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Brian Compton, president of Tax Resolution Services was delighted to be a guest on the Big Biz Show with Russ and Sully to dish some free tax help tips on the 7 secrets the IRS does not want taxpayers to know about.
As the April 15th tax filing deadline draws closer, taxpayers may be growing nervous about paying their taxes in a struggling economy or about how to resolve their current
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Did someone tell you that filing taxes is voluntary? That only foreign-source income is taxable? You better read about today’s frivolous tax arguments.
If you’re receiving tax advice that sounds otherworldly, it no doubt is.
Maybe someone finally told you that filing your income tax return and paying taxes every year are voluntary? You were a sucker all these year, filing returns and paying taxes, weren’t you?
Well, no. You’d be a sucker
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This week, the nation’s leading tax expert Brian Compton, president of Tax Resolution Services, chatted with Caz Taylor and Ruben Garcia on SBA Radio to share some great tax help tips for small business owners on how to avoid IRS audits.
As the tax filing deadline draws nearer, many small businesses already struggling with the state of the economy must face yet another challenge–filing and paying taxes.
It has been reported that
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