Question:
I have several years of unfiled tax returns and owe around $25 thousand dollars in back taxes to the IRS for my small business. I know I need to take care of this huge burden but I’m overwhelmed, what help is out there get me out of this mess?
Answer:
First, addressing your IRS tax issues right now is the first step towards finding the tax relief you need. There is a
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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
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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
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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
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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
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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
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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
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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
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At Tax Resolution Services, we help individuals and small businesses find a solution for their IRS tax problems. For a small business owner, this means not only spelling out the resolution process, but also the assessment and prevention of future tax issues down the road. It cannot be said enough that sound legal and financial advice helps to streamline operations and is key to small business success both in good
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For those who owe the IRS back taxes, you will want to take note before the new tax year. There is a new tool in the IRS tax collection arsenal poised to better recover unpaid taxes, detect tax fraud schemes, and reduce the number of fraudulent refunds the agency pays out than ever before.  An Information Week article “IRS Uses Analytics to Help Collect Delinquent Taxes”, announced news of the
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The IRS is busy scrutinizing the hallowed halls of higher education. A recent article written by Michael McDonald of Bloomberg News, reports on IRS’ stepped up enforcement of non-profit colleges and universities across America to properly report income from all revenue streams. The American academic community is seeing first-hand the strong arm tactics of the IRS including the beloved Harvard University and the hotel it owns overlooking the Charles River.
Universities
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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
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I hope everyone had a great Thanksgiving.  With the holidays upon us, our attention shifts to spending more quality time with family and friends. As you take time off at the end of the year, it can be a great opportunity to do a little preparing for the new tax season just around the corner. The first order of business should be to protect your important documents by completing the
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It is always important to keep yourself educated and up to date on current tax changes and laws to make sure you stay out of problems with the IRS before they occur. The same holds true when it comes to picking your tax professional or tax attorney. Take the time to make sure that he or she is certified and can provide recommendations.
To help keep the tax preparation industry in
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Credit Suisse Group, the second largest bank in Switzerland, announced last Tuesday, November 8 that it was handing over to the IRS the names of offshore bank account holders suspected of tax evasion. Credit Suisse, (the second Swiss bank in the last two years) caved under IRS pressure to collect from financial institutions signifying, quite possibly, the beginning of the end of tax shelters.
Given the aggressive nature of US tax
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