Today’s Tax Resolution Tip:
If you’ve taken the first step in resolving your unsettled back taxes you have admitted you have a tax problem and need tax help. But where to go for help? There are many firms and individuals claiming to resolve your tax problems forever. However, you need to make sure any tax assistance you seek is relevant to your individual tax problem.
If you are considering hiring a Certified
[Read More]

Today’s Tax Resolution Tip:
Once you file your yearly tax return, you might be tempted to get rid of all the receipts, forms, calculations and documentation lying around on your living room floor or home office. However, it is important you keep your tax documents for each tax return for at least 7 years. Copies of your tax return should be kept indefinitely.
Your tax returns do not disappear once you file them.
[Read More]

U.S Tax Court is keeping tabs on every possible tax detail in the hopes to find some extra revenue and tax loopholes are being sought out to try to find funding to fill in the budget deficit. Not free from the examination are clergy members and the tax relief laws that protect them from paying taxes. Back in March the U.S. Tax Court made a surprising ruling to extend a
[Read More]

The IRS newsletter Ten Tips for Taxpayers Who Owe Back Taxes or Have Other Tax Debt published a few weeks back, alerted Americans seeking tax debt relief there are ten options available to pay off their outstanding tax debt. These new IRS programs and policies are an effort to get delinquent taxpayers to avoid additional fines penalties or tax liens by making easy payment methods available such as a
[Read More]

A former Shively, Kentucky, police officer was sentenced to 39 months in prison and three years of supervised release after being found guilty by a federal jury of multiple counts of tax fraud and lying to the IRS.
Following a three-week trial, the jury found Curtis Gordon Jr., 40, of Louisville, Kentucky, guilty of three counts of filing false federal income tax returns, three counts of failure to file federal income
[Read More]

The Joint Tax Committee recently released their list of Estimates of Federal Tax Expenditures for Fiscal Years 2009-2013. The Joint Committee on Taxation is a nonpartisan committee of the United States Congress who assists Members of the majority and minority parties in both houses of Congress on tax legislation (see the website here). In Congress tax expenditures are what we like to call tax breaks or deductions;  the tax rules
[Read More]

With the nations budget deficit increasing and negotiations over what to do about the debt ceiling still raging on, taxpayers should be looking out for changes in “relief providing” tax breaks in upcoming years. Currently the tax breaks that most tax payers rely on for tax relief could be at risk of being cut from the books.  Laura Saunders of the Wall Street Journal explores the future of your tax
[Read More]

I came across an article called Individual Taxation: Digest of Recent Developments that summarizes recent changes and developments on individual taxation. The article goes into a good amount of detail to outline both last and this year’s tax regulation changes that will affect individual consumers. I highlighted some “best of’s” from the individual taxation article below. It is important to keep informed on tax law changes as most of these changes in taxation
[Read More]

There are a myriad of reasons why people have tax issues.  In my decade plus of expertise in guiding people to resolve theirs, I’ve just about seen them all. Our tax mediation firm specializes in working with the IRS to secure the best deal for clients seeking relief for their tax problems. Years of practice in careful listening and observing combined with a brazen approach and natural proclivity
[Read More]

Effective immediately the IRS will be allowing tax relief to the innocent spouses of those with serious IRS tax problems and back taxes. The new rules will help protect partners, especially those from abusive relationships, by granting relief to those who could have been deemed liable for a spouse’s tax problems. The Wall Street Journal’s Laura Saunders explains how the new rules differ from the original rule of a 2
[Read More]

The “Be A Man” slogan (seen in the video below) is the advertising tagline that I used when starting Tax Resolution Services. The burnout performance by my co-star, the 1968 Oldsmobile 442, emphasizes the serious point of tax problem avoidance.
Unlike a classic muscle car that gets more valuable with age, tax issues, if not dealt with promptly, only get worse.
“Be A Man” simply means that
[Read More]

An exchange-traded fund is an investment fund traded on stock exchanges, much like stocks.  An ETF holds assets such as stocks, commodities, or bonds, and trades close to its net asset value over the course of the trading day (Wikipedia).  ETF’s are becoming a more popular form of investing, but the structures of the funds can be taxed very differently from your normal run-of-the-mill mutual funds. Laura Saunders and Jason
[Read More]

A former Lafayette Parish Assistant District Attorney was sentenced to 18 months in prison and three years of supervised release for tax evasion. He was also ordered to pay $179,661.59 in restitution to the Internal Revenue Service.
According to court testimony, Joseph Floyd Johnson, 50, of Lafayette, La., failed to file his federal income tax return and evaded the payment of federal income taxes for the year 2003 after receiving income
[Read More]

I recently came across a post on The Global Resolution from the Thorn Law Group. The Global Resolution is the agreement the U.S. government and European banks are currently working on in a continued effort to put a stop to offshore tax evasion.
How will it work:
1) Any foreign bank under U.S. investigation will pay a fine to the government
2) Said bank will disclose U.S. client names to the government
3) U.S. government
[Read More]

I created a video (watch it below) where I spoke at TRS’ headquarters about how so many people today are in trouble with the IRS and in need of tax relief – I thought would be worth sharing here on the Tax Resolution University Blog.

Here are my critical tax relief points from the video:
1. The economy affects back tax payment ability
One in every six Americans has a tax issue with
[Read More]