The IRS  Offer in Compromise (OIC) program is designed for struggling taxpayers who, for whatever reason, are absolutely incapable of paying off their tax debt in full. It can be a powerful tool in helping you permanently eliminate your tax debt. If you owe back taxes to the IRS and you are unable to pay the debt in full, you may be eligible for tax relief through the offer in
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A man from Tennessee who owed the IRS $136,000 in back taxes, is now debt free thanks to our team of expert tax attorneys, CPAs, and Certified Tax Resolution Specialists.
In 1998, Lloyd S. faced an overwhelming tax debt of $136,000. After years of trying to handle his tax problems on his own with no success, he heard about our tax resolution services on Bill Handel’s radio show and he made
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I’ve recently blogged about what an IRS bank levy is and why you as the taxpayer must act immediately to get tax help from a tax attorney, CPA, or Certified Tax Resolution Specialist in order to save your financial well-being.
Now I want to go into more detail about just how a tax attorney can help you release your IRS bank levy. The IRS does provide some guidelines on bank levies
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Taxpayers, get ready for the fast-approaching 2010 tax season!
Yes it’s still January, but it’s not too early to start getting all your ducks in a row for the upcoming tax filing season. With the IRS tax collection efforts strengthening, it would be wise to adhere to IRS guidelines and tax filing tips when filling out your tax returns in order to avoid IRS tax problems down the line.
The IRS has
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A tough year calls for tough measures. The IRS knows this better than anyone and is not afraid to show its aggression with the increasing audit rate.
Nearly 1.4 million Americans were audited in 2009, which equates to 1% of all tax returns filed. Even if you can’t pay your back taxes, you can settle your debt by negotiating a reasonable monthly IRS payment plan or an offer in compromise settlement
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Wondering about IRS payment plans, offers in compromise, IRS tax liens, bankruptcy laws or have any other general tax questions?  Call our office at 1-866-IRS-PROBLEMS or visit www.taxresolution.com to get them answered!�
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Question: Like others who have asked questions here, I owe a substantial amount to the IRS. But I fear I won’t qualify for the Offer in Compromise programyou have mentioned, because I still make a sizeable salary. Do
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Check out our latest TRS IRS tax help newsletter for tax tips, IRS insider news, and income tax relief advice.
Many taxpayers who are in IRS trouble have found it difficult to be approved for IRS settlements such as the Offer in Compromise program. Historically, OIC application approval rates have remained under 25%. Recently, the IRS has updated the OIC application forms so that it is easier for applicants to understand.
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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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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 owner of a tire store in Alabama pleaded guilty to one count of tax evasion. Timothy Smith, of Cullman, Alabama, the owner of College Tire, was indicted in September 2008 and charged with two counts of tax evasion relating to the tax years 2002 and 2003.
According to court records, Smith diverted customer receipts from his tire business into two personal bank accounts. Smith also used cash and cashiers’ checks
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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 Client Of The Month is Mr. Jeffrey T.
When Jeffrey contacted our firm, he owed the IRS over $45k.
We negotiated with IRS and were able to settle his debt for just a
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Just got a nice note from a client in Monroe, Washington and wanted to share his kind words. Our team of tax relief experts was able to greatly reduce his tax debt by negotiating an offer in compromise settlement with the IRS on his behalf.
When he came to us for tax help, he owed the IRS $212,555. We worked on his behalf to negotiate a tax settlement of $2,400. The
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Today’s question comes from a reader who spends sleepless nights worrying about tax debt…
Given what you’ve said before, I don’t think I qualify for an Offer in Compromise. But that doesn’t mean I’m not in tax debt that’s keeping me awake at night. What can I do?
You’re right — partially. Not everyone qualifies for the Offer in Compromise program, but you’re making a huge mistake by assuming from the outset
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Question: I owe back taxes to the IRS. But how do I know if this Offer in Compromise will work for me? Am I eligible?
Answer:  I can’t say for certain whether you are eligible until I have an opportunity to meet with you in person and analyze your records. But certainly, if you owe back taxes to the IRS and you are unable to pay the debt, you may be
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With tax season quickly approaching, the IRS has announced that it will be providing help to those Americans struggling to meet their tax obligations this year. This means that distressed taxpayers plagued by mounting medical bills, heavy reliance on Social Security assistance, or recent job losses may now be eligible for a tax break. Struggling taxpayers may be eligible for relief as IRS eases enforcement and collection efforts to help
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