Posts Tagged ‘Penalty Abatement’

Bad Real Estate Situation Turns into IRS Problems for Retired Couple

Wednesday, November 2nd, 2011

Retired and on a fixed income, our client Carol and her husband ended up owing the IRS $18,000 after a bad real estate situation.  With no options, Carol started to do some research and discovered the great help Tax Resolution Services had done for others in her situation. Tax Resolution Services negotiated with the IRS and Carol and her husband’s IRS debt was reduced to $5300. To hear Carol’s personal
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Sick Retiree Seeks Tax Relief from Owed Back Taxes

Monday, October 31st, 2011

Our client Bill was incredibly ill and racked up three years of failure to file his tax returns. All said and done, Bill owed the IRS $66,000 dollars in taxes, penalties and fines. With nowhere to run and no means to pay the full amount, Bill turned to Tax Resolution Services for help.  The Tax Resolution Services team was able to step in and help Bill to clear his debt
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IRS Problems for Independent Contractor Behind on Quarterly Estimated Taxes

Friday, October 28th, 2011

As an independent contractor, Sharon fell behind on her quarterly estimated taxes, resulting in penalties and back taxes totaling $93,000. When Sharon knew she would never be able to catch up she turned to Tax Resolution Services to help negotiate down her penalties, saving her around $70,000 dollars. You can listen to Sharon’s story below to hear how Tax Resolution Services helped her:
Tax Resolution Service Client Testimonial: Sharon

If you are
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Self Employed with Huge IRS Problems

Thursday, October 27th, 2011

As a self employed individual trying to make it, Sharon ran into huge IRS problems when she fell behind on her quarterly estimated tax payments. The penalties were horrific and in the end Sharon ended up owing around $93,000 dollars in back taxes and fines. That’s when Sharon decided to call Brian at Tax Resolution Services.  TRS stepped in to take over Sharon’s dealing with the IRS and we were
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Tax Relief News: Geithner’s TurboTax Defense is Not Reasonable Cause for Understatement of Taxes

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
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Tax Resolution Services, Co., Helps Taxpayer Resolve $150K in Back Taxes and Receive IRS Refund

Friday, May 21st, 2010

Tax Resolution Services, Co., (TRS) recently helped Eddie S. from Los Angeles, CA, who owed over $150,000 in back taxes, interest, and penalties permanently settle his IRS debt. With our help, Eddie had over $75,031 in penalties forgiven and received a refund from the IRS for more than $84,000 on interest paid!
There are 148 different types of penalties that the IRS can hit you (as a taxpayer) with. Fortunately, you
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Tax Client of the Month Receives Over $84K in Penalty Abatement Refund!

Thursday, April 29th, 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 our business with referrals, word of mouth and repeat business.
This month’s Tax Client Of The Month is Mr. Eddie S!
Eddie owed the IRS over $150k in taxes including penalties and interests. We successfully abated the penalties in the sum of over $75,031
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Tax Relief Options Available to Americans Who Fail to File Legally Required Tax Returns

Wednesday, March 24th, 2010

As unemployment continues to rise and many Americans struggle to pay their monthly bills, less people are expected to file their taxes by the April 15th deadline, including those unable to pay their IRS bill.
H&R Block recently announced that year-to-date tax returns prepared have fallen by 8.2% from the prior year. While some taxpayers are opting to prepare their taxes themselves or using tax preparation software to save on fees,
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Tax Help News: IRS Announces it Will Ease Rules on Tax Settlements, Offers in Compromise

Wednesday, March 17th, 2010

While the IRS announced it will loosen its rules for negotiating tax settlements to help recession-burdened Americans struggling to meet their tax obligations this year, the reality is that the IRS is still the most unrelenting collection agency on the planet.
Distressed taxpayers who want to take advantage of this unique opportunity to resolve their IRS debt will be required to provide full financial disclosure – and if they plan to
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Offer in Compromise: How to Get the Tax Help You Need Through an IRS Offer in Compromise

Tuesday, March 9th, 2010

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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Your Unfiled Delinquent Tax Return Checklist: Stop the IRS Now and Avoid Steep Interest and Penalties from Accumulating

Thursday, January 28th, 2010

Unfiled delinquent tax returns can weigh on you like a disease. Every unfiled delinquent tax return eats at you, year after year, compounding fear until you feel hopeless. So if you’ve got a late delinquent tax return, follow the simple steps outlined in this unfiled delinquent tax return checklist and get expert help from a tax attorney or a Certified Tax Resolution Specialist to check the IRS off your worry
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Retire Your IRS Back Taxes Forever: How Tax Resolution Services Helped Save a Taxpayer $130,000

Wednesday, January 27th, 2010

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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IRS Payroll Tax Problems: Are You a Responsible Party Liable for the Trust Fund Recovery Penalty?

Wednesday, January 20th, 2010

In a time when the government is desperate for revenue, it is very important for business owners to stay on top of their payroll taxes game to avoid IRS payroll tax problems.
For those who may not be familiar with payroll taxes, unpaid payroll taxes are considered “trust fund taxes” because the employer’s failure to pay payroll taxes is equated to holding the employee’s money in trust until a federal tax
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Release Your IRS Bank Levy: How a Tax Attorney or Certified Tax Resolution Specialist Can Give You an Advantage

Tuesday, January 19th, 2010

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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Don’t Settle for a Busy Signal if You Need Tax Help: IRS Can Only Service 70% of Taxpayer Phone Calls

Monday, January 18th, 2010

A recent report from DetNews reveals that the IRS is expected to be unable to serve 30% of in-bound callers to its toll-free helpline.
According to the IRS, its service helpline has seen an increase of calls in the past two years from taxpayers who need tax help while filing their income tax returns. Many of these taxpayers have inquiries about the temporary tax breaks passed by Congress or general questions
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