A recent report released by Treasury Inspector General for Tax Administration (TIGTA) found that taxpayers may be getting their statutory rights violated by the IRS’s improper adherence to tax lien notification requirements. The report released on June 25 revealed that the IRS failed to take the necessary actions when notifying taxpayers and their tax representatives of liens. Procedurally, the IRS is required to mail written notification of the lien to
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In economic times when people are strapped for cash, it is tempting to cut corners when filing taxes in order to save some of your disposable income. After all, small tax savings from many different areas can add up to a substantial amount of money. However, no matter how tempting tax evasion may seem - whether it is small or large in sum - it is a terrible financial strategy
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President Obama has been working hard to ensure that American taxpayers are held more financially accountable. I recently blogged about how new tax enforcement regulations have been put in place in order to make it more difficult for business owners and wealthy people who put their assets overseas to escape taxes. In my recent interview with Mike Jaxson on KSVP, I discussed with him some important new changes to tax
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When our clients retain our tax help services, the first thing they often want to know is how their life will change and when they can expect these changes to happen. Upon retaining our firm to resolve your tax debt, some of the relief will be instant and some will be over time. Remember that IRS problems don’t start overnight and consequently they can take some time to resolve.
To help
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I was just featured in CPA Magazine as one of the top 40 CPAs in the nation!
I’m really honored as I take my job very personally and it’s really great to be recognized for my work as a Certified Tax Resolution Specialist. Since 1998, I’ve helped clients with IRS problems save in excess of $40 million.
Check out the April/May 2009 issue of CPA Magazine to read about the Top
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This is the second tax case I’m blogging about today that relates to taxability of canceled debt.
When a lender cannot collect debt and subsequently cancels the debt (which we are seeing alot of in the form of foreclosures in this struggling economy) -  the IRS considers the canceled debt as taxable income.
The IRS offers guidelines for exceptions or exclusions in which canceled debts are not taxable.
Additionally, the IRS may also
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Great news for troubled taxpayers! New legislation has been introduced to end Offer in Compromise down payments and make it easier for recession burdened taxpayers to enter into a tax settlement with the IRS.
Qualifying for the Offer in Compromise program can save taxpayers thousands of dollars in taxes, penalties and interest. Negotiating a compromise on your back tax deb is the closest thing to “amnesty” that the federal government offers
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The IRS has announced a six-month Voluntary Disclosure program that offers lower penalties to those who come forward and pay taxes due on the secret holdings in offshore accounts. Until now, the IRS could impose penalties of at least 50% for all years in which an account wasn’t disclosed. In some cases, that could exceed the value of the offshore holdings.
The announcement comes amid a U.S. legal battle to
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There are currently 35 million taxpayers in trouble with the IRS. When I appeared on LA Talk Radio with T.J. McCormack earlier this week we talked about income tax relief advice for the 15% of the population of tax paying adults that are in trouble with the IRS.
We’re past the April 15th tax deadline, but this is when people start thinking about the tax returns they haven’t filed. If you’re
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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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I was recently the guest tax expert on the BigBiz Show with Russ and Sully earlier this month. I love these guys - they’re hilarious. Plus, I found out that I’m apparently the only guest they’ve had on the show twice!  Listen to the full interview or catch some of the highlights below.
Last time I was on the BigBiz Show, we talked about what people can do if they are
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A recent Los Angeles Times article examined the resentment that’s brewing among Americans who feel that there is a double standard applied to delinquent taxpayers, which appears to favor powerful people like recent Cabinet nominees.
The most highly criticized nominee has been Treasury Secretary Tim Geithner, who owed $34,000 in back taxes and didn’t pay all of it until Obama nominated him.
His excuse? Geithner told the committee that he prepared his
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It’s the morning after April 15… Did you file your taxes?
Every year, millions of taxpayers fail to file legally required tax returns by the April 15 deadline, which can lead to more significant financial problems in the long run including huge penalties and jail time. But it’s not too late for delinquent taxpayers to resolve tax debt and avoid IRS penalties.
The longer you put off dealing with overdue taxes, the
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According to the IRS annual Dirty Dozen list of most common tax schemes, phishing “expeditions”  are on the rise this year along with frivolous tax arguments.  I even got a phishy email the other day.  These scam email look real too.. on IRS simulated letterhead complete with the logo and all.
It’s no surprise that these tax scams are being peddled to Americans in full force -  as IRS enforcement is
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Failure to file your legally required tax returns can cause you to incur significant penalties and may be construed as a criminal (misdemeanor and potentially a felony!) act by the IRS. However, there are circumstances where an individual may have “reasonable cause” for not filing or paying taxes due (divorce, job loss, death in the family, illness, etc).
The law allows for the abatement of penalties for reasonable cause, which is
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