Posts Tagged ‘bank levy’

Actor Chris Tucker Pays Nearly $1 Million toward Tax Debt

Thursday, May 30th, 2013

It appears actor and comedian, Chris Tucker is taking a bite out of his huge $12 million dollar tax debt. According to a article titled: “Chris Tucker’s Tax Debt – $1,000,000 Down, 12 More to Go!“, it seems that the actor recently wrote checks totaling $985.028.98 to pay off two Georgia state tax liens: one for $592,594.82 for tax year 2007 and $392,332.16 for tax year 2006.
We reported in
[Read More]

Businessman Doesn’t Comply with IRS Levy and Evades Taxes, Faces Up to Five Years in Prison

Wednesday, April 28th, 2010

If an IRS levy is filed against your business, you’re facing serious tax trouble.  The IRS files a bank levy or wage levy against you or your business as a last attempt to collect taxes and is usually a result of poor or no communication between the taxpayer and the IRS.  If the IRS files a levy against you, there is no doubt that you will need professional tax help and this
[Read More]

Don’t Hide from the IRS if you Owe Over $15,000 in Back Taxes or Have Unfiled Tax Returns

Friday, May 22nd, 2009

Bill Handel is a nationally syndicated talk show host who offers expert legal advice on his entertaining show Handel on the Law.
Here’s some great income tax relief advice from Bil:
Do you owe the IRS over $15,000 in back taxes or do you have unfiled tax returns? Don’t hide from the IRS!
Tax Resolution Services can help you negotiate a settlement of up to 85% of the original amount owed including
[Read More]

Ask the Tax Resolution Expert: When Does the IRS 10 Year Collection Statute Expiration Date Begin?

Thursday, April 30th, 2009

Question: Does the 10 year collection statute begin when the civil penalties are due?  Or, when the installment agreement has begun?  Or, as in my case, when the installment agreement was reinstated?
Answer: The 10 year Collection Statute Expiration Date (CSED) begins on the ASSESSMENT date, not when the taxes are due and not when you begin an Installment Payment Plan.
There are exceptions to this rule, including if the taxpayer agrees
[Read More]

More from My BigBiz Show Interview: Don’t Ignore the IRS Unless You Want Them to Levy Your Bank Account

Thursday, April 23rd, 2009

When I was on the BigBiz Show with Russ and Sully ealier this month, we talked about what taxpayers should know about working with the IRS to solve their tax problems.  We also talked about the tough economic times that we’re experiencing and how it’s not so much a Great Depression – but a Great Correction.
And as Sully pointed out, for many Americans, April 15th is not tax filing deadline,
[Read More]

5 Reasons to File Delinquent Tax Returns: There’s Still Hope if You Haven’t Paid Your Taxes This Year

Monday, April 20th, 2009

Did you pay your taxes this year? You can run, but you can’t hide from the IRS! However, there is hope for struggling taxpayers to resolve back taxes and avoid IRS penalties!
For the millions of Americans who failed to file legally required tax returns, there’s still hope for receiving income tax relief! Even taxpayers who received an extension for filing are not granted more time for the payment of taxes
[Read More]

KLOS Tax Tip #44: Individuals Get a Tax Break – But Get Tax Help if You Owe Back Taxes!

Tuesday, March 10th, 2009

As the KLOS Tax Man, I give free tax advice to listeners who need help with their tax debt. It’s a great way for be to share my IRS problem solving skills and help more Americans qualify for tax relief. Check it out!
Tax Tip #44: Individuals finally get a tax break. For 2009 and 2010, taxpayers will see an immediate increase in their take home pay by between $400 to
[Read More]

IRS May Help Taxpayers Facing Financial Hardships

Sunday, January 11th, 2009

The IRS issued a statement saying that they are taking steps to help financially distressed taxpayers. Depending on the circumstances, taxpayers in hardship situations may be able to adjust payments for back taxes, avoid defaulting on payment agreements or possibly defer collection action.
In other words, for taxpayers who have lost their job, seen a significant decline in their income, been forced to close down their business – the IRS “may”
[Read More]

Delayed IRS Collection and Currently Not Collectible Status

Saturday, December 29th, 2007

Delayed IRS Collection
IRS policy states that whenever the taxpayer raises a question or presents information creating reasonable doubt as to the correctness or validity of an assessment, “reasonable forbearance” will be exercised with respect to collection efforts as long as the interests of the government are not jeopardized.

This does not mean the taxpayer’s debt will be forgiven, or a tax lien will not be
[Read More]