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
[Read More]

I was recently interviewed for This Week In Chaves County, which airs Sunday at 7:00 a.m. on KEND 106.5 FM (Roswell, NM). I talked about opportunities for recession burdened Americans to settle IRS debt.
Please tune in – or check out the video below for a preview of the interview. Resolve your back taxes and say goodbye to wage garnishment, bank levies, and IRS penalties!

If you are in trouble with the
[Read More]

It’s always great to hear from satisfied clients after we’ve helped them resolve their tax problems. We recently helped a taxpayer in Southern California gain his financial livelihood back. He was sick and unable to pay his back taxes. We were able to negotiate a penalty abatement on his behalf.
Peace of mind. Shelly has been outstanding and very helpful. I have Stage 4 Pancreatic Cancer and Shelly has always had
[Read More]

A recent article in the Wall Street Journal looked at how the broad-based tax increases may be just around the corner in 2009 as many state budgets are being ravaged by the recession.  There may also be a push to boost personal income taxes as well as state sales taxes.
The article suggested a few revenue tricks for states to employ to stave off major tax increases including:
Dangling tax amnesties. Offering
[Read More]

Yesterday I wrote about Charles J. O’Byrne, the top government aide who claims that his 5 years of tax debt amounting to $300,000 was a by-product of his bouts with depression and a condition that makes it difficult for him to fill out his tax returns.
Tax evaders have been claiming to suffer from “failure to file syndrome” for years – even though it’s really not likely to hold up in
[Read More]

A team of our IRS debt relief specialists recently attended the IRS Problem Resolution Boot Camp in Los Angeles to further their professional education and help better serve their clients. The special two-day seminar, held by the American Society of Tax Problem Solvers (ASTPS), attracted attendees from all over the United States who successfully took their tax problem resolution skills, knowledge, and professionalism to the next level.
 The program titled “The Current Climate
[Read More]

Continuing education courses for tax attorneys and CPA’s.
Tax resolution means providing solutions to businesses and individuals alike who find themselves in trouble with the IRS. This guide can help hundreds of individuals and business with their IRS Collection Problems. To resolve tax matters with the IRS, the IRS’ Offer in Compromise (OIC) program encourages delinquent taxpayers to settle their back taxes – often for pennies on the dollar. The
[Read More]

Abatement A partial or complete cancellation of taxes, penalties or interest owed by a taxpayer.
ACS See Automated Collection System.
Automated collection System (ACS) A computerized collection process for IRS collectors to contact delinquent taxpayers by telephone and mail.
Collateral Agreement An agreement sometimes secured by the IRS prior to acceptance of an Offer in Compromise when the IRS wants to cover a future, reasonably possible event, such as a
[Read More]

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
[Read More]

Q: You have received a notice (CP-504) from the IRS?
Q: You owe the IRS. What if you cannot pay it all right now?
Q: What Is “Currently Not Collectible” ?
Q: What is Installment Agreements (Ias)?
Q: What is the Taxpayer Advocate Service?
Q: Who can file an Offer In Compromise?
Q: What are the requirements for an OIC?
Q: What is the most common reason for the large
[Read More]