The U.S. Treasury Department announced this week a proposal for new regulations intended to make it easier for overseas banks to comply with Foreign Account Tax Compliance Act, or FATCA requirements.
An article in Reuters U.S. enlists 5 EU nations in offshore tax crackdown explains these proposals as the U.S. Government not only addressing concerns of foreign financial institutions regarding the Foreign Account Tax Compliance Act, or FATCA, but also the
[Read More]

It is always a pleasure to be able to speak to others about the work I do as a tax resolution expert.
I recently had the unique opportunity to be interviewed by Opportunist Magazine’s Managing Editor, Leslie Stone for her article Talking With the Tax Expert-Michael Rozbruch.  She asked about the business of tax resolution, a subject of which I am WELL informed. The questions ranged from how my early business
[Read More]

The Internal Revenue Service recently proposed new guidelines aimed at providing tax relief for more innocent spouses who request equitable relief from their income tax liability. A Forbes article entitled IRS Lowers The Bar For Innocent Spouse Relief, details how the new proposals address the criteria used in making innocent spouse relief determinations in equitable relief cases and adjust the factors used in granting equitable relief.
Since 2003, the Internal Revenue
[Read More]

An article from TMZ titled Lil’ Kim Breaks the Million Dollar Tax Lien Mark reported on rapper Lil Kim and her current $1,026,862.42 IRS tax lien. Lil’ Kim appears to be no stranger to tax troubles as hers are well documented and stretch out over a ten year period. A spokesperson for Lil’ Kim said that she “hired professional attorneys to handle this matter” and that “she, along with her
[Read More]

An article in Boston.com called Too Late to Lower Your 2011 Taxes? Not At All listed a few of the deductions a business owner can still take advantage of this year.
Here are three Tax Help Tips that every business owner needs to know about for this tax year:

1. Fund a Retirement Account
You can reduce your 2011 taxes by starting a retirement plan or Simplified Employee Pension (SEP) for you
[Read More]

A recent article in Forbes, With Indictments, The IRS Will Get More Data From the Swiss stated that banks prosecuted by U.S. authorities moved money to smaller, discreet establishments such as Wegelin & Co..  Because of this, the U.S. authorities have stepped up their determination to go after IRS tax cheats and the banks that are hiding them, relentlessly.  With large AND small banks like Wegelin & Co. facing indictments,
[Read More]

With tax season fast approaching, those who need IRS tax relief are encouraged to examine the qualifications of tax resolution specialists before they hire help. Searching the Better Business Bureau’s (BBB) TrustLink Reviews is a great resource for such an investigation. Every year, the BBB receives feedback from people suffering from IRS debt.
TrustLink reviews include comments from consumers acknowledging their experiences, good and bad. Tax Resolution Services, Co. (TRS) holds
[Read More]

Michael Reiss, New Jersey doctor, professor and medical researcher, was sentenced on January 11, 2012 for failing to report his offshore (UBS) bank accounts. According to the IRS, Reiss was sentenced to eight months in a community confinement center for failing to file Reports of Foreign Bank and Financial Accounts (FBAR) with the IRS. Reiss pleaded guilty in August 2011 and agreed to pay back taxes of at least $400,000
[Read More]

With tax day just around the corner, many taxpayers will soon scramble to get their documents organized in order to take full advantage of all the tax breaks available to them. Of these taxpayers, homeowners have a lot to gain but to getting the tax help they need, will mean preparing the dreaded and often confusing itemized deductions.  A Fox Business Article entitled Six Tax Breaks Every Homeowner Should Know
[Read More]

Self-employment can be a liberating experience. You get to make your own rules, work your own hours and say goodbye to the horrors of a demanding boss. With this freedom comes responsibility and handling all your business affairs now solely rests on your shoulders, including paying your own taxes. A recent Ledyard-Patch article entitled Self-Employed? IRS Says You Should Read This reminds us that the self-employed are urged to get
[Read More]

An article in Bloomberg entitled IRS Called Easy on Criminal Tax Evaders in Watchdog’s Critique outlines Nina Olson of the National Taxpayer Advocate’s concerns that intentional tax evaders get more IRS help than those who weren’t intending to hide money from the U.S. government. Olson warns that future IRS collection efforts could be jeopardized due to confusion over the treatment of accidental tax evaders.

The IRS sees
[Read More]

Happy New Year! This year, why not keep on top of your taxes? If you owe IRS back taxes, read on! The IRS has a new tool in tax collection, aimed at better recovering taxes owed from taxpayers. The IRS is now using analytics to:
–collect back taxes
–detect tax fraud schemes
–reduce the number of fraudulent refunds the agency pays out
The IRS has contracted SAS Institute for $6.25 million to use their data
[Read More]

This Tuesday, a deadline passed in which 11 Swiss banks were given an IRS ultimatum to hand over account information and pay billions in fines to avoid US tax evasion prosecution. However, what the banks have not divulged are the claims that they would also have to provide all correspondence of their offshore clients over the last 11 years. An online article from “US tax “ultimatum” has Swiss banks sweating”
[Read More]

The IRS has temporarily suspended its controversial plan to fingerprint tax preparers in large part due to objections raised by the American Institute of CPA’s (AICPA). An excerpt from Accounting Today’s article, IRS Delays Tax Preparer Fingerprinting Requirements, shows IRS chief Doug Schulman, acknowledging  they got the message and have decided “to hold off fingerprinting” while they consider all the information received by “interested parties.”  The AICPA letter to the
[Read More]

If you owe back taxes to the IRS, the Offer in Compromise could be the solution to a debt-free life. The Offer in Compromise program does not make outrageous claims – it is a tool that consumers can use to reduce and eliminate their debt, if they qualify.
The Offer in Compromise is not a free gift from the IRS. It can however significantly reduce your debt. The IRS offers this program
[Read More]