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TRS Files: Don’t Let the IRS Seize Everything You Own, Get Help with IRS Audit!

Tuesday, November 3rd, 2009

Matt C. was a freelance worker who never saved enough money to pay taxes at the end of the year.  When the letter from the IRS came, stating that they were going to seize everything he owned – his heart sunk!  Watch how he solved his IRS problems on the video below from TRS Files.

Matt was either going to flee somewhere and hide for the rest of his life or seek help. Thankfully, he chose door two and with the help of TRS expert and tax attorneys, his back taxes liability of $40,000 was reduced to only $1,500 bucks.

He made the decision to call TRS and they kept him at ease and saved him from major tax debt. Matt admits, “taxes are complicated enough and he wanted to maintain a good relationship with his tax guy.  It was easy choosing TRS because they were so friendly, competent, and they put him at ease when he was panicking inside.” 

TRS tax attorneys and professionals kept their word and reassured him that if he followed the tax debt relief plain, laid out by them, they would be able to save Matt form his IRS problems and they did!

Matt is now debt free and an advocate of TRS, the only national certified tax resolution firm. TRS saved Matt from his IRS Problems and they can save you too!

If you have received a letter from the IRS telling you that you owe a lot of money to the IRS because of tax problems, pick up the phone and call 1-800-477-9609 because TRS will help you, solve your IRS problems, and save you!

If you owe back taxes to the IRS, our team of TRS tax attorneys, CPAs and Tax Resolution specialists can help you resolve your tax debt.  Find a resolution to your IRS problems today and call TRS now at 1-800-477-9609 for your free consultation.

TRS Files: Innocent Spouse with IRS Problems Can Finally Sleep at Night!

Friday, October 30th, 2009

This is a story I wanted to share with you because the guy featured in this video, Gib, discovered that he was going to owe the IRS more than 35,000 dollars in back taxes, interest, and penalties.  To hear how Gib was finally able to sleep at night because of a provision in the tax code called Innocent Spouse, watch the video from TRS Files now!

Gib was truly innocent of his partner’s tax  tax problems and TRS helped the IRS realize this.   TRS stopped the IRS from chasing Gib for his spouse’s back taxes and now he is debt free!

Gib was very satisfied and especially grateful for the “best night’s rest since he was baby” after TRS reassured him that he was was no longer responsible for the tax debt because he qualified for innocent spouse tax relief.

He has told all of his friends that if they have any problems with the IRS to be sure to call TRS because he wants his friends to experience the same quality treatment when resolving any IRS problems they have.  And it was because of the the expert services provided by TRS tax attorneys and tax professionals that Gib’s tax burden was reduced to zero dollars!

If you find yourself in a tax problem with your spouse, and feel that you qualify for Innocent Spouse Tax Relief, you will need a tax professional to help you through the process.  TRS tax experts and tax attorneys can help you find tax relief.

Resolve your back taxes with the IRS and call TRS now at 1-800-477-9609 for your free consultation.

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Got IRS Problems, IRS Payment Plan Questions, IRS Audit Concerns? Tax Resolution Services Wants to Hear from You!

Friday, October 30th, 2009

Whether you’d like to avoid the IRS, contact the IRS, settle with the IRS or just want to refer a friend, relative or client, I’d love to hear from you. I would be happy to provide you or that special person you refer a free no-obligation confidential tax consultation to explain every option available to solve IRS problems.   Tax relief client testimonials show some of the tax clients we have successfully served!

As we close this month, I want to say Thank You!  Thanks to my clients and friends who graciously referred me to their friends, clients and relatives last month!  I enjoy building my business based on the positive comments and referrals from people just like you.

Thanks this month to George Theofanis & Richard Moss.        

 I just couldn’t do it without you!

IRS Tax Debt Relief News-The TRS Files Offers Hope to Taxpayers Who Owe the IRS

Thursday, October 29th, 2009

Tax problems are tough to deal with–especially when the economy is not looking good. While it may be difficult to talk about your tax problems, it’s important for you to know that there are many taxpayers just like you who have resolved their overwhelming IRS debt by seeking professional tax help.

There are many reasons why taxpayers procrastinate on resolving their tax problems. Oftentimes, it can be easy to get paralyzed by anxiety and helplessness when you don’t have enough money to pay the IRS. You are not alone.

While you don’t have to be a cheat or criminal to end up on the wrong side of the IRS, it is still difficult for many people to talk about their tax problems and seek the help they need. Check out The TRS Files for more real-life tax resolution stories and find out how people like you have successfully put their IRS problems behind them!

To read more about how you can resolve your tax debt, check out our IRS tax debt relief newsletter.

If you are in trouble with the IRS, our specialized staff of attorneys, CPAs, EAs and tax professionals can help. Visit the Tax Resolution Services web site for a free tax relief consultation or call us at 866-IRS-PROBLEMS.

Tax Scams are Not the Way to Resolve Tax Problems or Back Taxes as Witnessed by an Attorney Who Was Involved in a Tax Evasion Scam and Anti-IRS Promotion and Now Faces His Day in Court

Thursday, October 29th, 2009

Facing back taxes can be overwhelming, but must be done!  Did you know that working through your back taxes owed doesn’t have to be done alone?  I recommend professional tax services to help you find tax relief.  Tax Resolution Services specialize in helping people resolve their tax debt one step at a time.   Remember that no one can avoid taxes.  Eventually the IRS will catch on to you like this attorney who thought his tax scam was above the law!

An Oklahoma and an Arkansas man were charged with conspiracy to defraud the United States, tax evasion and failure to file taxes.

Lindsey Kent Springer, 43, of Kellyville, Okla., used the name Bondage Breakers Ministry to solicit and receive money. Springer’s stated purpose for Bondage Breakers Ministry was “to get rid of the Internal Revenue Service.”

The indictment alleges that Oscar Amos Stilley, 45, of Fort Smith, Ark., an attorney, assisted Springer’s tax evasion through a variety of means. Stilley maintained an interest-bearing account which lawyers use to deposit and hold client funds. The pair allegedly used the account and various other devices — such as cashier’s checks, check cashing services, money orders, cash and other means — to conceal Springer’s actual income and avoid creating the usual records of financial institutions.

Springer allegedly told IRS employees that all funds he receives are gifts and donations to his ministry and that he does not have any income and he does not provide any services for payment. The indictment lists numerous transactions that dispute this.

Springer faces up to 22 years and Stilley up to 15 years in federal prison if convicted of all counts.

Tax Resolution Services’ road map to resolving tax debt outlines the steps towards tax relief.  The first step is a free tax consultation - fill out the form online – or call us – 1-866-IRS-PROBLEMS.  Tax relief is only a click or phone call away!

Who Does the TRS Files Commercials with Real-Life Tax Resolution Stories?

Wednesday, October 28th, 2009

You may have seen our new campaign featuring The TRS Files, real-life tax resolution stories designed to help Americans with IRS tax problems know that they’re not alone. We created the campaign to educate taxpayers on their options for immediate and permanent tax relief – so they don’t have to bear the burden of dealing with the IRS on their own!

People have been asking me about the TRS Files spokesman. That’s Fred Dryer – who’s probably best know for starring in the 80’s crime drama Hunter with Stepfanie Kramer. We thought the former NFL star would be perfect for the TRS Files.  See for yourself below as he shares true stories of Americans who have made the life-changing decision to put their tax troubles behind them.

If you owe more than $15K to the IRS or have 3 or more years of unfiled tax returns, you can get expert tax help from TRS. TRS employs only top CPAs, tax attorneys and tax resolution specialists who meet our demanding standards for professional and ethical excellence. Our mission and passion is to provide tax help to those who feel hopeless against the IRS.

Call us today at 1-866-477-7762 for your free consultation! And check out the TRS Files for more true tax resolution stories!

Tax Problems of the Stars – Celebrities Owing IRS Back Taxes Though the Years

Wednesday, October 28th, 2009

I recently blogged about the Worst Cases of Celebrity Tax Evasion- and the tax resolution lessons we can learn from these high-profile cases to make sure you don’t land in IRS trouble!

I came across another article on FoxNews.com about the Tax Problems of the Stars – which feature both recent headlines and some blasts from the past. Here are some highlights:

Nicholas Cage recently made headlines for his huge tax liabilities – the IRS has filed more than $6.3 million in tax liens against the actor for back taxes owed. And earlier this year it was reported that celebrity chef Gordon Ramsay owed £7 million in back taxes.

Famed photographer Annie Leibovitz landed in financial trouble lately, including a reported $1.5 million owed in back taxes

Country singer Willie Nelson got hit with a $16.7 million bill for back taxes in 1990 and consequently recorded the album “The IRS Tapes: Who’ll Buy My Memories?”  – with all proceeds going directly to Uncle Sam to pay off the IRS debt.

In 2002, tennis champ Boris Becker was convicted of tax evasion in Germany, sentenced to two years probation and was ordered to pay 3 million euros in back taxes and another 500,000 euros in fines and charitable contributions.

For more information on achieving a tax resolution for your back taxes or IRS debt, visit www.taxresolution.com for a free tax relief consultation or call 866-IRS-PROBLEMS.

77-Year Old Developer Evades Taxes and Sentenced to Prison Time – Don’t Evade Taxes, Set Up an IRS Payment Plan if You Owe Back Taxes

Monday, October 26th, 2009

If you owe taxes to the IRS, and feel like you do not have the money to pay them back, you can work out a payment plan with the IRS, also known as an Installment Agreement, which allows you to pay your tax liabilities over time.  Some people are able to negotiate their tax payment plans, but if you owe $25,000 and over, I would highly recommend working with a tax professional to negotiate a payment plan that you are comfortable with.  Remember that the IRS does not discriminate!  Evading taxes is a severe crime whether you owe just a few thousand or a few million!  This multimillionaire in the article below is a great example, he may be rich but he will still be sitting in prison like everyone else. 

The developer of a Morris County, N.J., condominium community was sentenced to a year in prison for evading corporate income taxes.

Morton Salkind, 77, of Denville, N.J., and Aventura, Fla., was ordered to turn himself in to the federal Bureau of Prisons on Oct. 5 to begin serving his prison sentence at a facility yet to be determined. He was also ordered to pay a $30,000 fine and to serve two years of supervised release after leaving prison.

Salkind had previously agreed to pay back civil taxes, penalties and interest on his individual income taxes of approximately $17 million and to date has paid $11.5 million. That leaves a balance to the government of nearly $6 million for which he remains liable.

“Today’s sentence sends a strong deterrent message that tax evasion is not a victimless crime,” said William P. Offord, Special Agent in Charge of the IRS Criminal Investigation Division, in a statement.

In pleading guilty, Salkind admitted that the false accounting entries included claiming approximately $5.7 million in expenses related to the development of Fox Hills that were never incurred. He also admitted that false accounting entries inflated legitimate project expenses.

Tax Resolution Services is a team of tax attorneys and IRS specialists who are here to help you find tax relief.  Our tax attorneys can help you negotiate an IRS Payment Plan that fits your lifestyle and needs.  Fill out our online tax consultation form – it’s a free tax consultation to get you on the road to tax relief.  Get free tax advice everyday by subscribing to our tax blog!

Two Tax Rules: Avoid Tax Scams and If You Need Tax Relief Consult a Tax Professional

Friday, October 23rd, 2009

As I’ve blogged before, tax scams will only get you in trouble with the law!  If you are having tax problems, seek professional tax help.  Tax Resolution Services can help you find tax relief as we have helped many others.  Our tax help testimonials speak for themselves!  Our Offer in Compromise tax settlement rate is $0.13 on the dollar!  Read more about our tax relief road map - what to expect when resolving your tax debt!  Stay on the right side of the IRS and don’t end up in prison like this family:

Kevin M. Flannery, 62, Margaret A. Flannery, 60, and Keith M. Flannery, 40, all of Gatlinburg, Tenn., have been indicted by a federal grand jury and charged with one count of conspiracy to impede the lawful government functions of the IRS. They face up to five years in prison for this charge.

In addition, Kevin Flannery was charged with three counts of filing false income tax returns, and his wife, Margaret Flannery, was charged with four counts of filing false income tax returns. They face up to three years in prison for each of these charges.

The Flannerys owned several businesses in Gatlinburg. The indictment alleges that Kevin and Margaret Flannery maintained two sets of books for their auto dealership and restaurant — one set of books for actual income and the other containing fabricated numbers which under reported the businesses’ gross income.

Many people don’t know where to turn when seeking tax reliefTax Resolution Services is a professional tax team made up of tax attorneys and IRS specialists who can help you find tax relief from all sorts of tax problems including IRS audits, delinquent tax returns, IRS tax liens,  IRS Payment Plans and more.  Visit Tax Resolution Services to view our full list of tax relief services.   Call 1-866-IRS-PROBLEMS for a free tax consultation to get you on the road to tax relief!

Top 7 Tax Resolution Lessons Learned from the Worst Cases of Celebrity Tax Evasion

Thursday, October 22nd, 2009

Celebrities, just like average taxpayers, can run into serious IRS problems. You have an edge over the high-profile celebrity tax cheats in that you can learn how to avoid IRS tax problems from the worst celebrity tax evasion cases.

Recently Access Hollywood compiled a list of celebrity tax cheaters who found themselves in deep IRS trouble with Uncle Sam. With thousands of fans and loyal followers, ending up on the California’s list of people who owed the most in back taxes does not sound very good for publicity.

The old trick of moving overseas no longer work for tax evasion as many foreign bank accounts are seriously contemplating not accepting American account holders (after the latest UBS ordeal). Some countries like the UK has set up special VIP celebrity tax evasion squads to come after those who are rich and famous with a dislike of paying taxes.

The list of celebrity tax cheaters is impressive: Leona Helmsley, Al Capone, Judy Garland, Annie Liebovitz, O.J. Simpson, Luciano Pavarotti, Martha Stewart, “Stone Cold” Steve Austin, David Brenner, Anna Kournikova, Lea Thompson, Method Man, Floyd Mayweather, Jim Thorpe, MC Hammer, Nicolas Cage, Stephen Baldwin, Toni Braxton, Robin Givens, Dionne Warwick, Sinbad, Buster Keaton and Willie Nelson.

Some of the most famous celebrities are on the California’s Top Delinquent Tax Bill List. Read more on my blog post about how celebrity tax evasion added to the $143 Million in California Back Taxes. Let these celebrity tax cheaters’ pains be your gain. Here are some important tax evasion lessons you can learn from these celebrity tax cheaters:


1. Marc Anthony’s celebrity tax evasion lesson: Trust, but verify.
Celebrity tax cheater Anthony’s (singer, actor and J.Lo’s husband) tax evasion problems started with four years of unfiled tax returns. With the help some of the best tax attorneys money can buy, he convinced the IRS that he didn’t commit tax evasion because he trusted his financial team to file the returns for him. According to Anthony, he didn’t know he was a celebrity tax cheater and was surprised to discover his team had gotten him on the hook for tax evasion. Because he convinced the IRS he wasn’t complicit in the unfiled tax returns, Anthony escaped the celebrity tax cheater label (and more importantly tax evasion jail time), but still had to pay $2.5 million in back taxes. The tax evasion lesson here is to confirm that your taxes have been filed. If you suspect someone on your team is making you a tax cheater, or hasn’t been acting properly, contact a tax attorney immediately.


2. Sophia Loren’s celebrity tax cheating lesson: Even an innocent spouse can end up doing jail time.
The tax evasion case against the Italian screen siren had more to do with her celebrity tax cheater husband Carlo Ponti’s unpaid taxes, but Loren ended up doing 17 days of a 30-day sentence in a Naples jail for tax evasion. If you file a joint return, your neck is on the tax evasion line for your tax cheater spouse’s taxes. Many couples appoint one partner to handle the finances. If you feel your tax cheater spouse hasn’t been faithful with their taxes, take your returns to a tax attorney or tax resolution specialist to see if you qualify for innocent spouse relief.


3. Abbott and Costello’s celebrity tax cheating lesson: Don’t let your nice guy image get in the way of avoiding a tax evasion problem.
Although he played the fool in the movies, Lou Costello (the dumb one of the comedy duo) was the more astute businessman and Bud Abbott (the smart one) was constantly making bad business decisions. Sometimes our self or public image prevents us from being assertive with our business and financial advisers when it comes to the topic of tax evasion. This lack of follow-through cost the celebrity tax cheating comedy duo dearly. According to Wikipedia, in 1956, the Internal Revenue Service charged the celebrity tax cheaters with tax evasion, forcing them to sell their homes and most of their assets, including their lucrative film rights. In 1957 they formally dissolved their partnership. Don’t let a tax evasion problem destroy your partnerships, always asks tough tax evasion questions of your financial team. And contact a tax evasion attorney or certified tax resolution firm immediately if you need tax help with your IRS problems.


4. Wesley Snipes’s celebrity tax cheating lesson: Write your politics on your blog, not on your tax forms
. According to his tax evasion trial coverage, one of the reasons celebrity tax cheater Wesley Snipes didn’t file his tax returns was due to bad tax evasion advice that was politically motivated. Although failure to file your taxes is a misdemeanor, celebrity tax cheater Snipes was sentenced to three years of jail time and millions in back taxes and tax evasion penalties. You may have heartfelt political or religious feelings about how your taxes are used, or even the validity of the U.S. Government to levy taxes, but put those tax evasion thoughts in your blog, not on your tax forms. Once you file (or don’t file) your taxes, it becomes tax evasion, which can send you to jail. If you’ve gotten on the tax cheating side of a political tax protest, contact a tax evasion attorney before the IRS or other G-men come knocking on your door.


5. Richard Hatch’s celebrity tax cheating lesson: Don’t “forget” to pay taxes on income (especially when 51 million people saw you get it).
As the first winner on Survivor, celebrity tax cheater Richard Hatch argued that he wasn’t guilty of tax evasion because he believed that CBS had paid the taxes on his million-dollar win (despite clear language in his contract explaining that he was liable for paying all taxes). If you get advice that says you don’t have to pay taxes on income, get a second opinion. If you make serious bucks, have your financial team’s tax work audited by another firm. If you think you’ve been given bad tax evasion advice, run, do not walk, to your nearest tax attorney or tax resolution specialist.


6. Joe Francis’s celebrity tax evasion lesson: Just because you’re incorporated, doesn’t make everything you grope a “deduction”.
The celebrity tax cheater producer of the Girls Gone Wild videos claimed more than $20 million in phony tax deductions. His tax cheating returns were more like Accountants Gone Wild. If you’ve got some filer’s remorse, and suspect that you might be guilty of tax evasion, you can always file an amended return, but consult with a tax evasion attorney first. You don’t want your amended return to be seen as an admission of guilt for more serious tax evasion charges.


7. Darryl Strawberry’s and Pete Rose’s celebrity tax evasion lesson: What part of INCOME taxes don’t you get?
At one time, celebrity tax cheaters Darryl Strawberry and Pete Rose were baseball’s biggest stars, making their autographed memorabilia very valuable. While these celebrity tax cheaters could rattle off their statistics for every season, the one figure they forgot to include was the income from autograph and memorabilia shows. When they autographed their tax returns without that income, they became celebrity tax evaders. Celebrity tax cheater Strawberry was ordered to pay $450,000 in back taxes, while celebrity tax cheater Rose had to pay $366,000 and went to jail for five months for tax evasion. If you’ve “forgotten” some income (such as eBay profits), you’re a tax cheater. Consult a certified tax resolution specialist or tax attorney on how to amend your IRS return without getting hit with severe penalties for tax evasion.

It is true that even the beautiful and rich cannot escape Uncle Sam, but some people may not realize that the IRS doesn’t only go after the “Big Fish.” I recently blogged about how average Joes are just as likely to get into IRS trouble. You may envy the celebrities for their glam and fortune–but if you take these tax evasion lessons to heart, you will have something much more valuable than fame. You will have your financial and personal freedom.

For more information on achieving a tax resolution for your back taxes or IRS debt, visit www.taxresolution.com for a free tax relief consultation or call 866-IRS-PROBLEMS.

Innocent Spouse Tax Relief Not Always Applicable, But a Possibility for Some Facing Tax Charges

Wednesday, October 21st, 2009

When tax problems arise in a family, it could end the marriage.  Sometimes, the spouse is truly innocent of their partner’s tax problems and the IRS realizes that this may be the case.  There is such a thing as Innocent Spouse Tax Relief and the IRS has a series of questions and Innocent Spouse Tax Relief Rules to extricate the innocent person from being responsible for the tax problem.   If you find yourself in a tax problem with your spouse, and feel that you qualify for Innocent Spouse Tax Relief, you will need a tax professional to help you through the process.  Tax Resolution Services has a team of qualified tax experts and tax attorneys that can help you find tax relief.  Then there are other cases where spouses are aiding each other in tax evasion and they always wind up in prison and with a hefty fine, like the story below!

Lili A. Brown, 46, of Beaverton, Ore., was sentenced to four months in prison after pleading guilty to one count of tax evasion. She is required to pay $130,871 in restitution to the IRS. Brown allowed her husband, Johnny Brown, to file tax returns for her that helped him by acting as a nominee owner of various assets in order to avoid tax liability. The Browns together operated a Kirby vacuum distributorship.

Tax Resolution Services offers a free tax consultation, call us at 1-866-IRS-PROBLEMS to speak with a member of our professional tax team today!

TRS Files Features Stories of Tax-Burdened Americans and Their Life-Changing Decisions to Get Tax Help

Wednesday, October 21st, 2009

During down economic times where money is scarce, having IRS tax debt is the last thing anyone needs on their plate. Yet, many Americans are staying up at night plagued by anxiety over their tax problems without knowing what to do.

We have recently launched TRS Files, which features real-life individuals just like you who found themselves being targeted by the IRS and their life-changing decisions to put their tax troubles behind them.

The TRS Files is designed to help tax-burdened Americans know that they’re not alone and to educate them on options for immediate and permanent tax relief. The true stories of tax relief feature both individuals and business owners who made the decision to get tax help to resolve their IRS problems. Patrick G. was stressed out when the IRS demanded $94,000 from him and put a lien on his assets. With expert tax representation, he was able to make it all go away. He had the IRS levies removed and permanently settled with the IRS for $2,000.

Tax problems can be overwhelming. The important things to remember are that you are not alone and that there is tax help out there for you. Visit The TRS Files for more True Tax Resolution stories.

Getting professional tax help from qualified experts can lift that heavy weight off your shoulders.

TRS employs only top CPAs, tax attorneys and tax resolution specialists who meet our demanding standards for professional and ethical excellence. Our mission and passion is to provide tax help to those who feel hopeless against the IRS. Call us today at 1-866-477-7762 for a free consultation!

Tax Relief Firm Effectur Closes its Doors – Leaves Taxpayers Still in Need of Tax Help for Settling IRS Debts

Tuesday, October 20th, 2009

As the economy continues to lag and taxpayers battle their anxiety over IRS tax problems such as back taxes, bank levies, and paying off IRS penalties, a Southern California competitor, Effectur, has officially shut its doors.

Due to the poor economy and a lack of cash flow to sustain normal business operations, Effectur announced its closure on its website that is lender has repossessed all company assets including money paid by customers on their accounts. Read the full article on Effectur’s closure here.

Many of Effectur’s clients have expressed anger towards the company’s services–complaining that Effectur was quick to demand advanced payment for their tax resolution services but slow to turn over results. According to one of Effectur’s clients, Bill Lichtenstein of Massachusetts, ““There was a lot of pressure to make payments and as soon as those payments were made, I stopped being able to get anybody on the phone or any kind of response. I felt like they said, ‘Well, we’ve got his money, let’s move on to somebody else.”

In tough times like these when money is scarce but IRS problems cannot be ignored, taxpayers must realize that they have to be careful in choosing a tax resolution specialist or tax attorney to resolve their tax problems. It is not uncommon for some tax resolution firms to demand payments from people who are already in IRS debt in order to pay for overhead costs such as employee salaries, utilities, and advertisements.

Before you hire a tax attorney, you need to know what questions to ask them. As a savvy taxpayer in need of tax resolution, you need to make sure that your tax attorney will be responsible and responsive to your needs. If you are dealing with a tax resolution firm that is more concerned about when and how quickly you can pay them instead of how to best provide you with tax help, you need to get out now. Learn more about what questions to ask your tax attorney before hiring tax help.

At Tax Resolution Services, we hold true to a very client-driven philosophy: give our clients the tax help they need is our primary goal. At TRS, we only have nine of our employees working in sales while fifty of our employees work on clients’ tax resolution cases. TRS employs only top CPAs, tax attorneys, and tax resolution specialists who meet our demanding standards for professional and ethical excellence.

Tax problems tend to get worse as more time drags on–make sure you hire a tax attorney that can get the job done. Call us today at 866-477-7762 to get your free consultation today!

Tax Resolution Services is the only national tax resolution firm certified by the ASTPS to negotiate tax settlements with the IRS. We are a nationwide professional tax solution company with a team of tax attorneys and IRS specialists who can help you find tax relief.

Tax Client of the Month: Negotiating IRS Payment Plan and Penalty Abatement Helps Tax Relief Client Save $104,000

Sunday, October 18th, 2009

Every month I choose a very special Tax Client Of The Month.  It’s my way of acknowledging good friends and saying “thanks” to those who support me and my business with referrals, word of mouth and repeat business.

This month’s Tax Client Of The Month is Mr. Michael Brady.

Mr. Brady owed the IRS over $130K in taxes including penalties and interest. We successfully abated the penalties in the sum of over $36K. In addition we entered Mr. Brady into a Partial Pay Installment Plan of $435.00 a month, an additional savings of $68,000.  In all, we shaved off $104,000 from Mr. Brady’s IRS debt.  Way to go Team TRS!!!

Congratulations Mr. Brady

You might be my next Tax Client Of The Month too!  Watch for it on the Tax Resolution Services blog, “Tax Client of the Month” category!
Thanks for the Kind Words…

“I could not be happier with the results. They took the burden of dealing with the IRS directly and they successfully abated over $36K in penalties. I was floored.”

                   – M. Brady

Ask the Tax Resolution Expert: How Do Kiddie Tax Rules affect the Madoff Carry Back?

Friday, October 16th, 2009

As a certified tax resolution specialist, I help individuals and businesses get the tax help they need to solve their tax problems. I even get questions from other CPAs and tax professionals (like the one below) seeking expert tax resolution advice. If you have a question, please call our office at 1-866-IRS-PROBLEMS or visit www.taxresolution.com

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Question: I have been involved in the preparation of form 1045 carry back claims that go back five, four, and three years. In many instances, the carry back eliminated the tax liability for the parents in 2003 and 2004. These taxpayers often have children who were subject to the kiddie tax based upon their tax rates. However, 2003 and 2004 are closed years.—Matthew H. Pennsylvania

I have inquired to the Office of Chief Counsel as to if any relief would be available for this situation and it does not appear that anything is imminent. Just wondering if your firm has considered this issue and if there is any groundswell to get relief.

Answer: Hi Matthew, our team of tax resolution experts at Tax Resolution Services have not yet encountered this issue you describe in connection with any of our 1045 carry back scenarios. However, if we hear of any updates on this matter in terms of tax relief, we will be sure to update the information on our blog. Learn more about the kiddie tax.

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We have several Bernie Madoff cases that we’re working on in house. It’s important for victims of investment fraud to know that they can recoup some of their losses through IRS tax codes. You will need expert tax help amending your tax returns and carrying back losses to previous years. It’s a complicated and technical process – but it could help taxpayers who’ve gotten caught up in Ponzi schemes recoup 30-40% of your losses.

For more advice or information on investment fraud recovery, you can call us at 866-IRS-PROBLEMS (866-477-7762) for a FREE consultation and we can discuss the case in more detail.