Archive for the ‘Working with the IRS’ Category

IRS Reminder – October 15th Tax Extension Deadline

Monday, September 30th, 2013

The IRS recently posted both a video and a press release to remind taxpayers that if they filed for an extension, the due date is October 15th, 2013. According to the IRS, many of the more than 11 million taxpayers who requested an automatic six-month extension this year have yet to file. Below the video is information the IRS wants to make sure taxpayers are aware of:

Here are exemptions to
[Read More]

Willie Nelson and IRS Tax Liens Over Twenty Years Ago

Tuesday, September 24th, 2013

Today, I was reminded that it’s been over twenty years since Willie Nelson lost nearly all his possessions to IRS tax liens. Country music news website, The Boot featured an article titled: “23 Years Ago: IRS Places Liens on Willie Nelson’s Property for Back Taxes” that highlights the entertainer’s challenges with the IRS beginning on Sept. 21, 1990, when IRS placed $16.7 million in tax liens on his property. Here
[Read More]

Tax Client of the Month Saves $42,000 with IRS Offer in Compromise

Tuesday, July 16th, 2013

Every month at Tax Defense Partners 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 Ms. Florabel V.
Ms. Florabel V. owed the IRS over $46,000 in back taxes when she contacted us for help.  After several months of
[Read More]

What to Do if You Missed June 30 Business Tax Deadlines

Wednesday, July 3rd, 2013

April 15 is not the only tax filing deadline taxpayers need to be aware of. Tax expert Eva Rosenberg, aka TaxMama® reminds us in a post titled: Looming Deadlines that business owners changing employee classification and those with offshore bank accounts had until June 30th to file reports with the IRS in order to avoid hefty IRS penalties and fines.
Here is the important tax information TaxMama mentions:
Offshore bank accounts and
[Read More]

IRS Released Report Outlining Changes for Non-Profits

Wednesday, June 26th, 2013

IRS Principal Deputy Commissioner, Danny Werfel is attempting to make good on his pledge to restore the IRS’ reputation and image. On Tuesday, an IRS press release announced the release of an 83 page report titled: “Charting a Path Forward at the IRS: Initial Assessment and Plan of Action” outlining new actions and steps to fix problems with the IRS’ review of tax-exempt applications and to improve the processes and
[Read More]

Tax Client Saves Over $100,000 Through IRS Offer in Compromise

Monday, May 13th, 2013

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
[Read More]

Tax Attorney Sentenced to 8 Years for Tax Fraud Scheme

Tuesday, March 5th, 2013

Donna Guerin, 52, former CPA and tax attorney for Jenkens and Gilchrist, received an 8 year prison sentence and will be required to pay $190 million in restitution for her participation in what the Treasury Department calls “the largest criminal tax fraud in history.” An Accounting Today article titled: “Tax Attorney CPA Sentenced to 8 Years for Massive Tax Fraud Scheme“ provides some details of this landmark case:

Guerin ran a massive
[Read More]

Taxes Turn 100-A Brief Look at the 16th Amendment

Friday, February 8th, 2013

On February 3, 2013, the 16th Amendment to the Constitution authorizing the federal income tax turned 100. The 16th Amendment has certainly had its share of controversy, especially in its early years. A Forbes article titled, “Guess Who Turned 100 This Weekend?“ highlights the history and tumultuous beginning of our tax system. Here are some of the interesting facts Forbes presents:
The Federal Income Tax is Born
On February 3, 1913, Delaware became
[Read More]

IRS Tax Enforcement Described As Harsh

Monday, February 4th, 2013

IRS tax enforcement is described as harsh but the criticism highlights the need to have a qualified tax professional at your side.

———————————-
There’s more pressure than ever on the Internal Revenue Service to increase tax collections.
That’s because the sluggish economy, which has depressed wages and tax revenue, and the ballooning national debt have combined to make tax collections even more urgent.
The IRS has responded to this pressure by increasing enforcement
[Read More]

New Tax Resolution Services Customer Success Commercial

Tuesday, January 22nd, 2013

Being able to help people resolve their tax problems is the reason I enjoy coming to work every day. I especially enjoy sharing real client success stories because it shows that good people sometimes fall on hard times and have tax issues with the IRS. It also proves that there’s a solution to every tax problem if clients find the right representation.
A new commercial for The Blaze TV highlights former clients
[Read More]

Extended IRS Tax Relief for Hurricane Sandy Victims

Monday, November 5th, 2012

Late last week, the IRS updated its filing and payment requirements for victims of Hurricane Sandy in an attempt to bring more tax relief to more people. I initially blogged about the IRS providing tax help to hurricane victims by extended filing and payment requirements for business owners and their tax preparers. Since then, the IRS has more broadly extended its tax relief efforts based on the Federal Emergency Management
[Read More]

October 15 Tax Extension Deadline Looming

Tuesday, October 2nd, 2012

The deadline to submit your extended 2011 tax return is October 15!  The IRS created a video to not only remind taxpayers of the deadline but also to suggest they review their tax returns to make sure they take advantage of tax benefits that often get overlooked.

A recent Accounting Today article titled: IRS Warns of Impending Tax Extension Deadline listed the “overlooked” tax credits and deductions that low to moderate
[Read More]

New Changes to Offer in Compromise – More Flexibility

Thursday, May 24th, 2012

The IRS announced this week it changed some of the rules that govern the Offer in Compromise (OIC) program – more flexibility meaning more folks can qualify.  An article in Reuters entitled IRS Widens Taxpayer Debt Forgiveness Program and in Accounting Today entitled IRS Makes Offer in Compromise Program More Flexible outline these changes aimed at giving more American taxpayers flexibility to repay their tax debt as part of the
[Read More]

Family of Hip Hop Label Sings IRS Blues

Friday, March 30th, 2012

Once again, we have celebrities in the news facing tough IRS problems.  The most recent failure to file tax case involves the sons of the late Sylvia and Joe Robinson who in the late 70’s formed the Sugar Hill Records label and created hip-hop’s first commercial hit, the Sugar Hill Gang’s “Rapper’s Delight.” According to an NJ.com article entitled From ‘Rapper’s Delight’ to tariff-collector fight: sons of hip-hop pioneers face
[Read More]

TaxMan Gives Thanks and Tax Tips on Big Biz Show

Tuesday, March 13th, 2012

Continuing the countdown to April 16 on a recent episode of the Big Biz Show,  I offered some helpful TaxMan tax tips and advice including how to avoid more IRS “red flags” and planning for tax laws that are set to expire in 2012.

I also took opportunity to thank Sully and Troy Hazard, one of the show’s executive producers, for the launch of the TaxMan show debuting on Biz Television. This
[Read More]