Due to the harsh reality of the current economy, more Americans are filing for bankruptcy. Although there may be a certain negative connotation attached to filing for bankruptcy, it is also an effective way for many people to get fresh new starts.
Filing for bankruptcy is one way in which you can discharge some of your tax liabilities. In fact, many IRS taxes, penalties and interest qualify for complete 100% discharge
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Russ and Sully with the Big Biz Show welcomed back Brian Compton, President of Tax Resolution Services, for more tax relief wisdom – this time about IRS debt and bankruptcy. People are forced to file bankruptcy for different reasons. And I know a lot of folks filed bankruptcy last year because they lost their jobs or they lost their pension.
Bankruptcy is really designed to give people a fresh start, people
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This is the 7th highest year on record for bankruptcies nationwide, with 1.4 million bankruptcies reported in 2009.
In my opinion, we have not seen the end of this torrid pace.  Regardless of what Washington and the media would have you believe, more and more individuals and small businesses will seek protection from the bankruptcy code in 2010.  I would suspect that 2010 will see a higher number of bankruptcies
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I’ve blogged before about how there are actually 3 persons permitted to practice before the IRS – including representing taxpayers at appeal hearings, tax audits and IRS appeals that are held administratively and in the civil arena (per IRS Circular 230). They either have to be an active licensed member of the state bar (tax attorney), a certified public accountant actively licensed or an enrolled agent. And no matter where
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The General Motors bankruptcy may become an unthinkable reality as the company faces a Monday deadline to prove its financial viability to the federal government. The looming bankruptcy could financially cripple the community of Flint, Michigan, where GM is based.
If the company files Chapter 11, the region will be have to weather plant closings and massive layoffs. The consequences of the company’s pending bankruptcy are very complex,  and will affect
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I was recently interviewed by Thom Senzee for the San Fernando Valley Business Journal.  We talked about companies that utilize online technologies like webinars and online video to reach customers and educated the public.
In addition to this blog, I Twitter (@taxresolution), author tax help articles, and use YouTube to share helpful income tax relief videos. We use these online channels to educate users on some lesser known facts about tax
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WHICH IRS TAX SOLUTION OPTION IS BEST? ALTERNATIVES TO AN OFFER IN COMPROMISE

This is a key question which must be addressed. Left to only the IRS or the taxpayer, this question is usually not fully or adequately explored.
There are 10 options commonly employed to resolve a tax collection matter (see full explanations below):

Full pay the tax owed
File unfiled returns to replace Substitute for Returns
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