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Tuesday, August 17th, 2010
In the featured article below, a priest learns that God wasn’t the only one watching him cheat on his taxes – the IRS was too! Tax evasion, under reporting income, or hiding income is all the same. It is a federal offense and is usually punishable by a hefty fine and prison time. I have said it on this tax blog time and again – if you are cheating on taxes, you will get caught. The more money you hide, the bigger your punishment will be. So if you owe back taxes, there is no time like the present to ask for tax help from Tax Resolution Services. Let me reiterate, we do not help you evade taxes, we settle your tax debt and help you find permanent tax relief so you can go forth with a clear conscience!
A Roman Catholic priest, Samuel R. Ciccolini, 66, of Akron, Ohio, was charged with one count of structuring financial transactions to evade reporting requirements and one count of making and subscribing to a false tax return.
The information alleges that from April 2003 to June 2003, Ciccolini, knowingly and for the purpose of evading the reporting requirements for financial transactions, made a structured deposit of $1,038,680 in U.S. currency by 139 individual cash deposits at bank branches in the Akron area.
The information further alleges that on April 15, 2004, Ciccolini willfully made and subscribed an individual tax return and verified in writing that his personal taxable income for the tax year 2003 was $101,064, whereas he then knew his actual income was $407,062.00. The information charges that the unreported taxes for the 2003 tax year was $129,432.00.
In addition to being a Roman Catholic priest, Ciccolini is executive director of Interval Brotherhood Home, a drug and alcohol rehabilitation facility.
The investigation leading to the information was conducted by the IRS and the Bureau of Immigration and Customs Enforcement.
Tax Resolution Services offers a free tax consultation by calling (888) 699-7630 or filling out this simple form on our website. Let us find a way to settle your back taxes. View our complete list of tax relief services.
Tags: evading taxes, filing false tax returns, help with back taxes, help with taxes, settle back taxes, settle tax debt, tax blog, tax consultation, tax evasion, tax relief, tax resolution services, under reporting taxable income, under reporting taxes
Posted in IRS Tax Cases, IRS Times and Inquirer | No Comments »
Monday, August 16th, 2010
I am proud to announce that in addition to providing expert tax relief for individuals and small businesses, our team at Tax Resolution Services has now extended our reach to the more than 50 percent of American homes that now regularly utilize Facebook.
You may or may not already know that one in six Americans today faces some type of tax problem. Through Facebook, we are now extending our social media reach to those millions who are facing IRS problems including debilitating tax levies and liens, wage garnishments, IRS penalties and interest from back taxes and unfiled tax returns.
Our team at TRS distinguished ourselves as social media forerunners and industry leaders in social media in 2007 with the launch of the Tax Resolution University blog. Since then, we have reached taxpayers through Twitter (@taxresolution) and through income tax relief videos on YouTube. Now, we are posting tax relief tips, advice and news on its Facebook page at www.facebook.com/taxresolution.
I find that social media not only helps me achieve higher visibility for my company but also enables me to provide much-needed tax help to more people than ever before. I’ve really enjoyed connecting and sharing with people I wouldn’t otherwise know.
While the tax relief advice on Facebook can help orient a bewildered or overwhelmed taxpayer, I still recommend seeking out experienced tax professionals who are best able to represent taxpayers and negotiate with the IRS on their behalf.
I’ve been asked if I ever worry about giving away too much information in my quest to educate taxpayers regarding their tax debt options. The answer is ‘never.’ While I’m passionate about educating the public, I also know that the tax code is very complicated and technical, so the taxpayer who is being targeted by the IRS will still need expert help to resolve their tax problems.
Tax Resolution Services, Co. is dedicated to providing affordable solutions to businesses and individuals alike who find themselves in trouble with the IRS. Our expert team of tax attorneys, CPAs, and Certified Tax Resolution Specialists has a success rate of 90% – second to none in the industry – and an Offer in Compromise Settlement Rate of $0.11 on the dollar. For more information or to receive a FREE tax relief consultation, visit www.TaxResolution.com or call (888) 851-5894.
Tags: Back Taxes, certified tax resolution specialist, facebook tax tips, Free Tax Consultation, IRS help, irs problems, IRS tax help, Michael Rozbruch, tax attorney, tax expert, tax help, tax relief, tax resolution services
Posted in Back Taxes, Expert Help From Tax Attorney, IRS help, Seeking Professional Tax Help, income tax relief, tax help | No Comments »
Monday, August 16th, 2010
Yes! If you decide, without prompting from the IRS, that you want to settle back taxes, you will most likely avoid prison. The first step to settling back taxes is to contact a tax professional. At Tax Resolution Services, we can help you get tax relief and set up a reasonable IRS payment plan or negotiate an Offer in Compromise settlement where you may end up paying pennies on the dollars that you owe! Filing false income tax returns or claiming false deductions will not reduce your tax debt – as this man in the article below found out!
A North Carolina man received 30 months in prison after pleading guilty to aiding the filing of false income tax returns.
Julio Spiro Dibbi, of Forsyth County, N.C., was charged with nine counts of willfully aiding the filing of false income tax returns and five counts of interfering with internal revenue laws for the tax years 2005 and 2006.
The charges alleged, among other claims, that Dibbi knowingly claimed false Schedule A business deductions to include employee expenses, business travel, work telephone and uniform cleaning.
Our team of tax professionals at Tax Resolution Services have been solving IRS problems since 1997. Let us add you to our list of satisfied client tax relief testimonials! Call today for a free tax consultation: (888) 699-7630!
Tags: Back Taxes, filing false tax returns, Free Tax Consultation, get tax relief, IRS payment plan, Offer in Compromise, reduce tax debt, settle back taxes, tax professional, tax professionals, tax relief testimonials, tax resolution services, tax resolution services testimonials
Posted in Back Taxes, IRS Installment Agreements, IRS Tax Cases, IRS Times and Inquirer, Seeking Professional Tax Help, Working with the IRS, tax help | No Comments »
Monday, August 16th, 2010
Not everyone receives a refund check from the IRS every year. If you’re one of the many taxpayers who will be receiving a bill from the IRS, don’t panic.
There are many different options for you to pay your tax bill without going broke. Check out these 9 tax help tips from the IRS (www.IRS.gov) for taxpayers who owe money to Uncle Sam:
- If you get a bill this summer for late taxes, you are expected to promptly pay the tax owed including any penalties and interest. If you are unable to pay the amount due, it is often in your best interest to get a loan to pay the bill in full rather than to make installment payments to the IRS.
- You can also pay the bill with your credit card. The interest rate on a credit card or bank loan may be lower than the combination of interest and penalties imposed by the Internal Revenue Code. To pay by credit card contact one of the following processing companies: Official Payments Corporation at 888-UPAY-TAX (also www.officialpayments.com/fed) or Link2Gov at 888-PAY-1040 (also www.pay1040.com) or RBS WorldPay, Inc at 888-9PAY-TAX (also www.payUSAtax.com).
- You can pay the balance owed by electronic funds transfer, check, money order, cashier’s check or cash. To pay using electronic funds transfer you can take advantage of the Electronic Federal Tax Payment System by calling 800-555-4477 or online at www.eftps.gov.
- An installment agreement may be requested if you cannot pay the liability in full. This is an agreement between you and the IRS to pay the amount due in monthly installment payments. You must first file all returns that are required and be current with estimated tax payments.
- If you owe $25,000 or less in combined tax, penalties and interest, you can request an installment agreement using the Online Payment Agreement application at IRS.gov.
- You can also complete and mail an IRS Form 9465, Installment Agreement Request, along with your bill in the envelope that you have received from the IRS. The IRS will inform you usually within 30 days whether your request is approved, denied, or if additional information is needed. If the amount you owe is $25,000 or less, provide the highest monthly amount you can pay with your request.
- You may still qualify for an installment agreement if you owe more than $25,000, but a Form 433F, Collection Information Statement, is required to be completed before an installment agreement can be considered. If your balance is over $25,000, consider your financial situation and propose the highest amount possible, as that is how the IRS will arrive at your payment amount based upon your financial information.
- If an agreement is approved, a one-time user fee will be charged. The user fee for a new agreement is $105 or $52 for agreements where payments are deducted directly from your bank account. For eligible individuals with incomes at or below certain levels, a reduced fee of $43 will be charged.
- Taxpayers who have a balance due, may want to consider changing their W-4, Employee’s Withholding Allowance Certificate, with their employer. There is a withholding calculator available on IRS.gov to help taxpayers determine the amount that should be withheld.
While these tax tips from the IRS are very useful, the most important thing to know is WHEN you need to consult expert tax help from a Certified Tax Resolution Specialist so that you do not end up in the deep end.
You may have noticed that the IRS recommends taxpayers to apply for IRS installment agreements in order to pay their back taxes. It is extremely important to know that these agreements are difficult procedures with many caveats that should not be attempted without the expert tax help of a professional Certified Tax Resolution Specialist. Hiring professional tax help to negotiate a settlement with the IRS on your behalf can significantly increase your chances of qualifying for an installment agreement or in some cases, remove financially crippling liens and bank levies.
At Tax Resolution Services, we can help you analyze your current financial situation and records to determine the exact amount owed to the IRS – and ensure you are not obligating yourself to pay a penny more than what you have to. Our team of experts and Certified Tax Resolution Specialists will help you get the tax settlement you need and move on with your life. For a free tax resolution consultation, visit www.taxresolution.com or call 1-888-699-7630.
Tags: Back Taxes, certified tax resolution specialist, Free Tax Consultation, Installment Agreement, IRS debt, IRS help, IRS payment plan, Michael Rozbruch, tax attorney, tax help, tax relief, Tax Tips
Posted in Back Taxes, Expert Help From Tax Attorney, IRS Installment Agreements, IRS help, Seeking Professional Tax Help, Tax Liens and Levies, Tax news and tips, income tax relief, tax help | No Comments »
Sunday, August 15th, 2010
We know that bad things can happen to good people–after all, it’s a part of life! What many taxpayers may not know is that the IRS is indiscriminately aggressive when it comes to chasing tax evaders–whether you’re a multi-million dollar celebrity or a Joe Six-Pack. It’s easy to erroneously believe that the IRS is too busy to scrutinize the “small fries” and will instead focus only on catching “The Big Ones.”
One of the worst mistakes a taxpayer can make is to underestimate the power and reach of the IRS. Tax problems can result from a number of different causes. Recently, we have seen how serious the IRS is about collecting back taxes and penalizing those who have inadvertently or deliberately evaded their tax payments.
Take the latest celebrity tax evaders roundup for example:
- Wyclef Jean Owes the IRS More Than $5 Million in Back Taxes.
The runner-up for Haiti’s president, Wyclef Jean (real name Nel W. Jean) allegedly owes the IRS more than $5.2 million in back taxes from three different states: New York, New Jersey, and Florida. Given that this is Wyclef Jean’s second financial scandal–the first being his questionable spending of the funds from the Wyclef Jean Foundation which was established to help rebuild Haiti after the earthquake, Wyclef Jean has more than a handful to deal with.
- Khloe Kardashian Officially Has More Back Than Kim–Taxes, That Is.
Owing a whopping $18,490.74 to the State of California, Khloe Kardashian is now frying in the IRS spotlight instead of bathing in the sunny California sunshine.
- Former G-Unit Rapper Young Buck’s Home Gets Raided by IRS.
The IRS raided Buck’s house on August 3rd at gunpoint to seize any possessions of his that may be applied toward the payment of his $300,000 in back taxes. The IRS let Young Buck keep his house and car, but seized personal computers, his son’s PlayStation, and the rapper’s home studio–with which he uses to make music.
The truth is, no one is safe from the IRS’s grasp – not even A-list celebrities like Wesley Snipes, Nicholas Cage, O.J. Simpson, and many others. These celebrities have faced some severe IRS charges and penalties for evading large sums of tax payments.
While it may be difficult for many taxpayers to directly relate to owing the IRS millions of dollars in back taxes, these celebrity IRS tax evasion stories still teach regular taxpayers a valuable lesson: the IRS will absolutely find you if you cheat on your taxes.
Don’t fall for the common misconception that the IRS “only goes after the big fish.” The truth is, the IRS is just as enthusiastic about going after the average folks–taxpayers like you or your neighbor.
Don’t mistake your chances of getting caught by the IRS. If you think that you may be in IRS trouble, the best thing to do is to be proactive about resolving your tax problems. Many times, the IRS penalties are much more severe if the IRS finds you before you go to them. Get tax help now if you fear that you may be next.
At Tax Resolution Services, we are dedicated to providing affordable solutions to businesses and individuals alike who find themselves in trouble with the IRS. For more information or to receive a FREE tax relief consultation, visit www.taxresolution.com or call 888-699-7630.
Tags: Back Taxes, Celebrity Tax Woes, IRS debt, IRS help, irs problems, Khloe Kardashian, Michael Rozbruch, tax attorney, tax help, tax relief, Wyclef Jean, Young Buck
Posted in Back Taxes, Celebrity Tax Woes, IRS help, Seeking Professional Tax Help, Tax Blogs, Tax news and tips, Unfiled Returns - Delinquent Tax Returns, tax help | No Comments »
Saturday, August 14th, 2010
Every month Tax Resolution Services chooses a very special Tax Client Of The Month. It’s our way of acknowledging good friends and saying “thanks” to those who support Tax Resolution Services with referrals, word of mouth and repeat business.
This month’s Tax Client Of The Month is Ms. Brenda Villabisencio
Ms. Villabisencio owed the IRS over $38,000, when she contacted our firm. We were able to settle her debt for just $582.00 through the IRS’s Offer in Compromise program. Amazing!!!
– Congratulations Ms. Villabisencio –
You might be my next Tax Client Of The Month too! Watch for your name in our Tax Blog in an upcoming month.
Thanks for the Kind Words…
“I wanted to thank all of you at Tax Resolution Services for all the help and support you have given me. I have been dealing with this Tax issue for so many years. When I called, the gentleman who answered told me not to worry that TRS could help me and they did. I definitely would recommend Tax Resolution Services”.
-B. Villabisencio
If you owe a considerable amount of back taxes, like the tax client above, you may be eligible for the IRS Offer in Compromise program. This was set up to help taxpayers resolve their tax debt and get a fresh start, if they qualify. To find out if you may qualify for the Offer in Compromise program, contact Tax Resolution Services at (888) 699-7630. We offer a free tax consultation! Let one of our Certified Tax Resolution Specialists assist you today!
Tags: Back Taxes, certified tax resolution specialist, Free Tax Consultation, Offer in Compromise, offer in compromise settlement, Tax Client of the Month, tax debt, tax resolution services
Posted in IRS Tax Cases, IRS Times and Inquirer, Tax Client of the Month | No Comments »
Friday, August 13th, 2010
As you know, I often turn to many fellow tax bloggers for the latest tax news and IRS regulations. And while Stacie’s More Tax Tips blog features tax help and tips, I am particularly drawn to her candid refreshing take on the triumphs and woes of today’s taxpayer.
From why she thinks American Express sucks to the true story of a magazine door-to-door sales person who encountered nightmarish tax consequences from her self employment status, Stacie’s unique take is both entertaining and enlightening.
Stacie’s More Tax Tips provides a wide and eclectic mix of tax information. The blog is well organized and quite informative – taxpayers can find excellently categorized information concerning tax, accounting and business advice, mixed in with quirky commentary. The blog offers information published by the IRS, such as IRS Patrol and IRS Presents, news releases and tax tips.
Other great content featured on the blog includes interviews with interesting individuals who put a new spin on everything tax, book reviews, Education Credits, Tax Guidance (need any help filing out those numerous tax forms?), coaching, and types of tax explained. You can even check out Abigail’s story of sex, drugs, and taxes for a bit of jolting tax reading.
Or for a bit of light reading, Stacie’s personal take on all tax absurdity (laws, events and news) peruse The Duh Factor. Another popular feature is the Stupid Preparer Files featuring the follies of tax preparers gone bad.
Stacie knows her stuff, with over 20 years experience in tax, accounting and business consulting. She’s co-authored “Domestic Production Activity Deduction: A Walk Through Section 199″ and is a contributing author to “The Fundamentals of the Corporate Income Tax Return.”
You can follow Stacie’s Tax Tips on Twitter @Stacies_TaxTips.
For more tax resources and news, you can check out some of the other tax blogs I follow. If you seek IRS tax help, our IRS Tax Relief FAQs is a great place to start. Please feel free to leave a comment if you have any suggestions for tax blogs you would like to recommend for fellow tax readers! OK, I need to stop reading blogs and get back to providing tax relief assistance!
At Tax Resolution Services, we are dedicated to providing affordable solutions to businesses and individuals alike who find themselves in trouble with the IRS. For more information or to receive a FREE tax relief consultation, visit www.TaxResolution.com or call 888-699-7630.
Tags: IRS help, IRS tax problems, Stacie Clifford Kitts, Stacie's More Tax Tips, tax advice, Tax Blogs, tax expert, tax help, Tax news and tips, tax relief, tax relief tips, Tax Tips
Posted in IRS help, Tax Blogs, Tax Debt Help News, Tax Problem FAQs, Tax news and tips, Useful Tax Resolution Websites, tax help | 2 Comments »
Wednesday, August 11th, 2010
If you are hiding income in an offshore account, it’s not too late to come clean with the IRS. Although the tax amnesty deadline for voluntary disclosure has expired (in November 2009), you can still get professional tax representation to help you possibly reduce severe tax penalties and work out a structured IRS payment plan. At Tax Resolution Services, we recommend seeking tax help first before the IRS finds you. If that happens, the true story below is what you may be facing!
In pleading guilty to a federal charge of willfully subscribing to a false tax return, a Milltown, N.J., man admitted he concealed more than $2 million in a Swiss bank account.
Leonid Zatlsberg admitted that he signed and filed a false tax return for 2003 that failed to disclose his UBS account and income generated from the account’s assets. Zaltsberg also failed to file a Report of Foreign Bank or Financial Accounts (FBAR) for the UBS account.
The account, originally opened in 1993, was transferred into the name of Belton Capital Corp., a nominee Panamanian corporation, in 2000. Zaltsberg established Belton in late 2000 with the assistance of a foreign lawyer and a Swiss banker in order to hide the account from the IRS.
Zaltsberg admitted that his failure to file the FBAR and his failure to disclose the existence of the UBS account on his personal income tax returns allowed him to under report personal income for the years 2000 to 2006. In 2002, the account reached a high balance of $2.6 million.
Zaltsberg faces up to three years in prison and a fine of up to $250,000, or twice the amount of financial loss to the IRS. In addition, Zaltsberg agreed to pay a 50 percent civil FBAR penalty for the calendar year, from 2000 through 2007, with the highest balance in the UBS account.
Tax Resolution Services offers a free tax consultation – by filling out the simple form online or calling (888) 699-7630.
Tags: failing to file income from overseas accounts, FBAR, filing false tax return, Free Tax Consultation, hiding income, IRS payment plan, preparing a false tax document, seeking tax help, seeking tax help with overseas accounts, Swiss bank accounts, tax resolution services, UBS, underreport income, Voluntary Disclosure
Posted in IRS Tax Cases, IRS Times and Inquirer, IRS help, Seeking Professional Tax Help, Voluntary Disclosure, Working with the IRS | No Comments »
Wednesday, August 11th, 2010
Recently, President Obama signed into law the most thorough set of changes to the American financial regulation since the 1930s, with the comment that “every American from Main Street to Wall Street has a stake in our financial system”.
The bill, called the Dodd-Frank Wall Street Reform and Consumer Protection Act places new fees and limits on the biggest banks, imposes new restrictions on the $450 trillion derivatives market, and crafts a major new consumer-protection division for mortgage and credit-card products. The main aim of signing this new law in place is to avoid and be protected against a future banking system failure, such as the one that led us into the current recession we are experiencing now. (Note: the failure of the big banks makes this the largest recession since the Great Depression.)
No surprise that such an immense bill would be rather complicated, long-winded and full of debatable and unclear areas. However, here’s a quick summary of the key new measures that will be put up in place to achieve the desired future financial protection:
* Volcker Rule will force big banks to sell hedge funds (read more about what this means here: Volcher Rule)
* New transparency, reporting and capital rules for derivatives
* Liquidation mechanism for big failing banks to minimize market impact
* Combine two bank regulators at the center of the crisis
* Create a council of regulators to watch for systemic risk
* Give shareholders more power in corporate governance and CEO pay
* Audit of the Fed’s emergency and other lending facilities
The the average American consumer these provisions sound like a good idea, albeit a bit vague and meaningless as they will indirectly affect taxpayers. But the good news is that the new Consumer Financial Protection Bureau (housed in the Federal Reserve) is aimed at addressing this by purely focusing on fighting consumer abuses in the marketplace. Specifically, it will aim to do this through four big changes affecting consumers:
-Credit Scores
-Mortgage Risk
-Credit and Debit Cards
-Financial Adviser Disclosures
You can read more about the consequences of each of these four measures, both positive and negative in the quick summary offered by GE Miller on mint.com.
In summary, taxpayers as consumers will experience greater protection from this immense new law. Specifically they will no longer have to ‘foot’ the bill for big bad banks as there will be no more bailouts. The bill is aimed to offer all around protection in the marketplace, from the big banks, small businesses and to the individual taxpayer.
Though it is a good point to mention the 2,000+ page bill goes in great depth regarding what and how it aims to accomplish this change. Keeping this in mind, the future of this bill will not reflect an immediate and overnight change. For example, the Securities and Exchange Commission, is expected to be responsible for writing 95 new rules, while the Federal Reserve would be required to create 54. This will take years to implement and as of now, it is unclear how tough the final law will be until regulators approve the hundreds of new rules required by the statute.
However, the approval of this bill is a huge triumph for Obama in his effort to ‘rein in’ Wall Street after the excesses that drove our economy to the brink of collapse in 2008. The recent government bailouts largely contributed to the growth in the federal deficit. And since the $750 billion financial bailout, the only place for the government to get revenues to pay for this is to go after non-filers and tax cheats. Congress has appropriated a record budget this fiscal year for the IRS to beef up collection efforts. They are at the highest level of brutal enforced collection than I have witnessed during in the past 11 years.
So make no mistake – the government is still intent on zeroing in on individual taxpayers as the IRS is poised to do whatever it takes to collect every penny missing from the government bank account.
Our company is dedicated to providing affordable solutions to businesses and individuals alike who find themselves in trouble with the IRS. Our expert team of tax attorneys, CPAs, and Certified Tax Resolution Specialists has a success rate of 90% – second to none in the industry. If you have back taxes or are seeking tax relief, visit www.TaxResolution.com or call (888) 699-7630 for a free tax relief consultation.
Tags: Back Taxes, Dodd-Frank Act, income tax relief, IRS debt, irs problems, tax help
Posted in Back Taxes, Banking & Finance, Business Services, General Business, Tax Relief News, Tax news and tips, tax help | No Comments »
Tuesday, August 10th, 2010
Leonid Zaltsberg has lived an extraordinary life. The 76-year-old from Milltown, N.J., played for the Soviet Union’s national soccer team, competed in the World Cup, and now works with Ukraine’s national team.
He’s also now part of another extraordinary group: U.S. tax cheats who’ve been convicted of evasion following the release of account information from Swiss bank UBS.
Zaltsberg pleaded guilty in New Jersey to subscribing to a false tax return, admitting that he concealed more than $2 million in a UBS account. What’s more, Zaltsberg also admitted that, as with other U.S. taxpayers who kept secret accounts in Switzerland, he did not disclose the account on the IRS’s required form, known as a Report of Foreign Bank or Financial Accounts.
For that, Zaltsberg will pay dearly. He faces up to three years in prison and a fine of up to $250,000. In addition, Zaltsberg will pay a civil penalty equal to 50 percent of his highest Swiss bank balance during the period from 2000 to 2007.
Zaltsberg’s guilty plea, his possible prison sentence and his substantial civil penalty were made possible only through a historic deal between the Swiss and U.S. governments that effectively pierced the once impenetrable Swiss banking veil.
That deal, which came with a $780 million fine to UBS for helping U.S. taxpayers evade income taxes, forces the Swiss to release the details of more than 4,450 account holders suspected of evading U.S. income taxes.
For a man such as Zaltsberg, the news is that he’s not alone. There could 4,449 others who will receive similar punishments.
But for U.S. taxpayers who may be using other means to hide their monetary assets from the IRS, Zaltsberg’s prosecution and agreement with the Swiss government should be terrifying.
Here’s why: By piercing the Swiss banking veil, the U.S. government shows its ability to take down the world’s largest offshore banking center — once long viewed as the globe’s most secure tax shelter. And now that the Swiss tax shelter has been pried opened, the U.S. government is going after tax shelters in other nations. At the top of the list are banks in Singapore and Hong Kong.
In fact, the U.S. Department of Justice is opening a criminal inquiry into Asian clients of HSBC Holdings, Europe’s largest bank.
Reuters, the financial newswire, quoted unnamed IRS officials in July saying the tax-collecting agency expects a significant amount of tax cases to come out of Asia.
Those who follow the use of offshore tax shelters say Asia benefited from Switzerland’s vulnerability, with many bank account holders moving their money to places like Singapore and Hong Kong as U.S. officials put heats on Swiss banks and government officials.
Ask yourself: Are they following your money?
Contact out special division for overseas tax evasion defense TODAY! If you are in IRS trouble for undisclosed foreign funds, call our office at (888) 699-7630 for a free, no-risk tax resolution consultation or visit www.taxresolution.com.
Tags: FALSE TAX RETURNS, i need tax help, IRS enforcement, offshore accounts, tax advice, tax cheat, tax evasion, tax help, tax relief
Posted in IRS Tax Cases, IRS Times and Inquirer, IRS help, Offshore Tax Settlements, Tax Scams, Tax news and tips, income tax relief, tax help | No Comments »
Friday, August 6th, 2010
In recent U.S. Tax Court News, Treasury Secretary Tim Geithner, who owed $34,000 in back taxes and didn’t pay all of it until Obama nominated him, was not granted penalty abatement. His defense that he relied on TurboTax to prompt him to pay his self- employment taxes was rejected and does not excuse him from penalty or errors on his tax return.
I know from negotiating cases with the IRS day in and day out on behalf of taxpayers that Geithner’s defense would not hold. The standard is the same for all Americans and ignorance of the law is no excuse.
Here’s a great example of someone who is really smart and yet still can’t seem to get it right when it comes to paying federal taxes. Even if TurboTax didn’t prompt him to pay his self-employment taxes, this is not reasonable cause for the understatement of taxes. If you’ve had a life-altering event such as divorce, business closing, severe illness, or loss of a job, you can argue that you have a reasonable cause and in certain situations, the IRS will work with you and forgive some penalties.
But blaming TurboTax for inadequate tax filings will not excuse you from paying penalties even if you are the head of the Treasury department.
At TRS, we are very successful in reducing IRS penalties for our clients in need of tax relief. We have the client complete an in-depth questionnaire and request that they submit proof or documentation that supports their good reason. We take this information and compose a legal letter, citing recent or past court cases where these verdicts were in favor of the client with the same or similar set of circumstances you have.
Generally, our penalty abatement request cases are heard and settled, in the client’s favor, at the appellate level of the IRS, as IRS personnel, at the first line of defense, are trained to just “say no”. Remember, the IRS is not in the business of writing off penalties. They are most brutal Collection Agency (and penalty happy bunch) on the planet.
If you have unfiled tax returns or other IRS problems, contact our specialized staff of tax attorneys, CPAs, EAs and tax professionals. Visit the Tax Resolution Services web site for a free tax relief consultation or call us at 888-699-7630.
Tags: Back Taxes, IRS penalties, Penalty Abatement, tax penalties, tax relief, Timothy Geithner, turbotax defense, turbotax geithner
Posted in Back Taxes, IRS Tax Cases, Penalty Abatement, Tax Relief News | No Comments »
Friday, August 6th, 2010
Tax cases can be very complicated. At Tax Resolution Services, our tax attorneys have helped all kinds of people find tax relief – from the everyday taxpayer to large companies – altogether more than 9,000 tax cases have been handled by our skilled tax team. If you find yourself in tax trouble, ask for help! Tax Resolution Services is made up of Certified Tax Resolution Specialists and tax attorneys who can help you resolve IRS problems from the past, help you qualify for a tax relief settlement, and find permanent tax relief (translation: no tax problems in the future). Don’t be afraid to contact a tax attorney- over a person’s life time, it is almost inevitable that they will need some sort of tax help – whether it be small or big:
The Internal Revenue Service has billed Conrad Black for $71 million in unpaid taxes, and the former media mogul is challenging the hefty tax bill in U.S. Tax Court.
The former chief executive of Hollinger International, Black was for a time the world’s third largest newspaper magnate, with ownership of papers including Chicago Sun-Times and The Daily Telegraph in London.
Black is free today on a $2 million bond while a Chicago judge considers whether to throw out his 78-month federal prison sentence for diverting Hollinger funds for personal benefit. Black is challenging the IRS’s claim he did not pay U.S. taxes on $120 million in taxable income.
Born in Canada, Black is a British citizen. Despite having spent significant time in the United States, Black is arguing that the $120 million in question is not subject to U.S. income tax.
One of our tax attorneys is standing by to help you resolve your tax debt! Call (888) 699-7630 for a free tax consultation today!
Tags: certified tax resolution specialist, Conrad Black, Free Tax Consultation, resolve IRS problems, resolve tax debt, tax attorney, tax bill, tax relief, tax resolution services, tax specialist, tax team
Posted in IRS Tax Cases, IRS Times and Inquirer | No Comments »
Wednesday, August 4th, 2010
Every month Tax Resolution Services chooses a very special Tax Client Of The Month. It’s our way of acknowledging good friends and saying “thanks” to those who support Tax Resolution Services with referrals, word of mouth and repeat business.
July’s Tax Client Of The Month is Mr. Gregory Thieme.
Mr. Thieme owed the IRS over $91,000 in back taxes. After several months of negotiations, we were able to settle his debt for just a little over $4,600 through the IRS’s Offer in Compromise program. That’s 5 cents on the dollar!! Incredible!!!
Congratulations Mr. Thieme!
You might be my next Tax Client Of The Month too! Watch for your name on our tax relief blog!
Thanks for the Kind Words from Mr. Thieme:
“TRS did an amazing job. TRS was able to negotiate a settlement for me, where I only paid 5 cents on the dollar. I always felt that Shelly and TRS had my best interests at hand.”
-G. Thieme
Tax Resolution Services offers tax relief services. If you need to settle back taxes, need to file taxes from a previous year (file delinquent tax returns), are wondering about IRS payment plans, are dealing with an IRS audit or tax lien, our expert tax team can help! Free tax consultation by calling (888) 699-7630. See Tax Resolution Services full array of tax relief services on our website. Read more tax client testimonials too!
Tags: Back Taxes, delinquent tax filing, IRS audit, IRS payment plan, IRS tax audit, Offer in Compromise, settle back taxes, tax blog, Tax Client of the Month, tax lien, tax relief services, tax relief success story, tax relief testimonial, tax resolution services, tax success story, tax team
Posted in Back Taxes, IRS Tax Cases, IRS Times and Inquirer, IRS tax audit, Offers in Compromise, Seeking Professional Tax Help, Tax Blogs, Tax Client of the Month, Tax Liens and Levies, Tax Relief News | No Comments »
Monday, August 2nd, 2010
If you are a taxpayer that is overwhelmed by back taxes, delinquent tax returns or interest, you may be constantly worried about the IRS knocking on your door with a collection notice. And that day may be sooner than you expect as the IRS is out to hire hundreds of new agents and using the internet to swiftly find and recruit new employees.
As the most powerful collection agency on the planet the IRS is keeping up with the times. The bureau has jumped on the social media bandwagon and is using YouTube – to recruit new graduates!
Recently the IRS launched a new YouTube playlist Working at the IRS that features IRS employees and the various jobs the bureau offers. This jobseekers playlist, “…is a great opportunity for new graduates and applicants to explore employment with the IRS and join a dedicated workforce serving our nation’s taxpayers,” says IRS Chief Human Capital Officer James Falcone.
The aim of the channel is to show applicants considering working for the IRS a first-hand account of a particular position, the agency’s work culture and a detailed breakdown of available careers. Though this may sound like a good idea to a jobseeker, it goes to show how serious the IRS is about cracking down on taxpayers with back taxes, delinquent tax returns or tax cheats - and using new channels to do so! The IRS has a record $5.5 billion budget from Congress this year to enforce tax collection and close in on tax cheats. The agency is now using mainstream YouTube to hire hundreds of new IRS agents to see these goals through.
Admittedly using YouTube to seek employees sounds like a trendy idea, but is worrisome nevertheless. The IRS boasts a wide range of jobs available to new grads and even veterans. While there are currently over 100,000 full time employees, the agency is serious about using its resources and hiring new agents – this new playlist is part of their IRS YouTube channel IRSvideos, which provides tax tips and news for individuals and businesses.
Find out more about the new IRS YouTube playlist.
While it is encouraging that potential employers are utilizing various tools and channels in recruitment during these tough economic times (and when so many people are facing unemployment), it is important to keep priorities in order. The IRS is serious about catching tax cheats and enforcing penalties for delinquent tax returns, collecting back taxes and interest. These new developments show just how serious the collection agency is. If you have back taxes or delinquent tax returns, now is now is the time to seek professional tax help! A qualified tax attorney or Certified Tax Resolution Specialist is your best solution to your IRS problems – whether coming up with an installment plan that is appropriate to your specific situation or fighting the IRS in an audit on your behalf.
Tax Resolution Services, Co. is dedicated to providing affordable solutions to businesses and individuals alike who find themselves in trouble with the IRS. If you owe $20K or more in back taxes to the IRS, contact us today to receive a FREE tax relief consultation by visiting www.TaxResolution.com or calling (888) 699-7630.
Tags: Back Taxes, certified tax resolution specialist, delinquent tax returns, IRS debt, IRS help, IRS payment plan, irs problems, tax attorney, tax debt, tax relief
Posted in Back Taxes, IRS help, Seeking Professional Tax Help, Tax news and tips, Working with the IRS, tax help | No Comments »
Saturday, July 31st, 2010
Are you hiring an accountant to help you evade taxes? If so, bad move! When you sign your tax form, it doesn’t matter who prepared them – you are fully responsible. Need solid tax advice on how to resolve your back taxes or other IRS problems? Or tax relief services? Hire a tax professional – such as a tax attorney, tax accountant or Certified Tax Resolution Specialist – all of which we have at Tax Resolution Services. We offer free tax consultations – simply by calling (888) 699-7630. In the meantime, enjoy this tax comic!
Tags: certified tax resolution specialist, tax accountant, tax advice, tax attorney, tax cheat, tax comic, tax professional, tax relief services, tax resolution services
Posted in IRS Humor, IRS Times and Inquirer, Tax Humor | No Comments »
