In the current economy with people losing their jobs left and right, the one word we have not heard as frequently as “recession” is “bankruptcy.” There are more mentions of foreclosures in the aftermath of the credit crash than mentions of people filing for personal bankruptcies. When I was on the LA Talk Radio with TJ McCormack last month, we chatted about the possible boons of filing for bankruptcy and
[Read More]

As a tax resolution specialist, I help individuals and businesses resolve tax problems every day - and I can help you get the help you need to solve your IRS problems!
Got tax questions about tax audits, wage garnishments, IRS bank levies, payroll tax problems, or income tax relief in general? Call us today at 1-866-IRS-PROBLEMS or visit www.taxresolution.com for a risk-free tax resolution consultation.
——————
Question: I am in the middle of
[Read More]

Return preparer fraud made this year’s IRS Dirty Dozen list of common scams taxpayers should avoid. In this down economy, the promise of large refunds may seem tempting to taxpayers, but victims of tax schemes will end up facing more tax problems in the long run.
Dishonest tax return preparers are scam artists that skim money from their clients’ refunds and charge inflated fees for return preparation services. They attract new
[Read More]

As a leading tax expert, I’ve  helped thousands of taxpayers resolve their federal and state tax collection problems. I love what I do and helping people solve their IRS problems is already incredibly rewarding - so on top of that, it’s a real honor to be named a Finalist in the Executive of the Year category in the 2009 American Business Awards. I was also recently recognized by CPA Magazine
[Read More]

Join me and KFI radio host Bill Handel on Saturday for Law Day 2009 at Whittier Law School. This event is FREE and open to the public!
Law Day at Whittier Law School (3333 Harbor Blvd., Costa Mesa, CA)
Saturday, May 30,  2009 /9:00am to 2:00pm
Bill Handel will be on hand to give you marginal legal advice during a LIVE taping of his show Handel on the Law. There will also be
[Read More]

While Geithner has told Congress that there will be no income tax increases until 2011, his recent proposal to Congress requested additional funding for improved IRS collection operations and increased scrutiny of tax returns.
We’re already seeing the IRS cracking down on both small businessess and individuals with increased tax audits and aggressive collection tactics including bank levies.
Anyone who owes back taxes in this down economy will need to know how
[Read More]

Bill Handel is a nationally syndicated talk show host who offers expert legal advice on his entertaining show Handel on the Law.
Here’s some great income tax relief advice from Bil:
Do you owe the IRS over $15,000 in back taxes or do you have unfiled tax returns? Don’t hide from the IRS!
Tax Resolution Services can help you negotiate a settlement of up to 85% of the original amount owed including
[Read More]

I was just featured in CPA Magazine as one of the top 40 CPAs in the nation!
I’m really honored as I take my job very personally and it’s really great to be recognized for my work as a Certified Tax Resolution Specialist. Since 1998, I’ve helped clients with IRS problems save in excess of $40 million.
Check out the April/May 2009 issue of CPA Magazine to read about the Top
[Read More]

This is the second tax case I’m blogging about today that relates to taxability of canceled debt.
When a lender cannot collect debt and subsequently cancels the debt (which we are seeing alot of in the form of foreclosures in this struggling economy) -  the IRS considers the canceled debt as taxable income.
The IRS offers guidelines for exceptions or exclusions in which canceled debts are not taxable.
Additionally, the IRS may also
[Read More]

Great news for troubled taxpayers! New legislation has been introduced to end Offer in Compromise down payments and make it easier for recession burdened taxpayers to enter into a tax settlement with the IRS.
Qualifying for the Offer in Compromise program can save taxpayers thousands of dollars in taxes, penalties and interest. Negotiating a compromise on your back tax deb is the closest thing to “amnesty” that the federal government offers
[Read More]

Obama proposed nearly doubling funds to enforce tax compliance and has asked Congress for a $400 million boost for IRS enforcement activities in fiscal year 2010, to support its goal of cracking down on offshore tax dodgers.
The additional $400 million is an increase of about 8% that would bring the total IRS enforcement budget to around $5.5 billion for FY 2010. By doubling the tax law enforcement budget, the White
[Read More]

There are currently 35 million taxpayers in trouble with the IRS. When I appeared on LA Talk Radio with T.J. McCormack earlier this week we talked about income tax relief advice for the 15% of the population of tax paying adults that are in trouble with the IRS.
We’re past the April 15th tax deadline, but this is when people start thinking about the tax returns they haven’t filed. If you’re
[Read More]

President Obama announced an overhaul of the tax code to “detect and pursue” U.S tax evaders and go after their offshore tax shelters.
The President’s two-part plan calls for nearly 800 new IRS agents to enforce the U.S. tax code - and help wage war against multi-national corps and their offshore tax havens.
Under the current tax code, companies with operations overseas pay U.S. taxes only if they bring the profits back
[Read More]

CCH (http://tax.cchgroup.com/) reports:
The Treasury Inspector General for Tax Administration (TIGTA) released a new report praising the IRS’s performance with respect to the issuance of 119 million economic stimulus payments in 2008. The report, entitled, “Evaluation of Efforts to Ensure Eligible Individuals Received Their Economic Stimulus Payment” (Reference Number: 2009-40-069), concluded that the IRS made significant efforts to ensure eligible individuals received their economic stimulus payment and also initiated actions to
[Read More]

CCH (http://tax.cchgroup.com/) reports:
The IRS will move from the process of modernization to actually arriving at “being modern” within the next year or two, IRS officials forecasted during the Council for Electronic Revenue Communication Advancement (CERCA) Spring 2009 conference held on April 30 in Arlington, Va. IRS Deputy Commissioner Mark Ernst and IRS Electronic Tax Administration Director David Williams both reiterated the Service’s continuing commitment to utilizing electronic administration to promote
[Read More]