I’ve blogged before about how IRS Commissioner Douglas Shulman has pledged greater flexibility for taxpayers who have fallen on hard times and owe IRS back taxes.  However, it’s still important to remember that “Revenue” is still the IRS’s middle name.
Due to the economic challenges of the current recession, more tax settlements than ever are expected to be submitted to the IRS this year. While taxpayers with back taxes
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Recent news reports that many Americans who found there homes underwater are now drowning in back taxes.  In the Wall Street Journal article, A Surprise Hit on Foreclosures, Jeff D. Opdyke recounts the stories of some of the millions of homeowners across the nation who “are discovering that their decision to walk away from a mortgage could result in tax bills running into the thousands or tens of thousands of
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Just in case you thought we were exaggerating, here’s an interesting video (see below) that reflects how tax collection agencies (at both the federal and state level) are becoming increasingly aggressive!
Joseph Abrams reports that the Pennsylvania Department of Revenue has taken on Big Brother scare tactics in the latest search for delinquent taxpayers – despite recent headlines that say taxing authorities have become kinder and gentler to help struggling taxpayers
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Did you manage to file your taxes by the deadline? Perhaps you squeezed in your returns at the last minute? According to MarketWatch.com filling has gone down by 3% in the first week of April compared to that time last year.  This means that less people are filing legally required tax returns due to the current economy. Because more people than ever are struggling to pay their taxes, they will
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This latest news goes to show how no one is safe from IRS scrutiny-not even its own employees.
One IRS employee was found guilty of deliberately under-reporting her actual income by neglecting to disclose the money she made from selling her used clothing and other merchandise on eBay.
According to WebCPA, “She had unreported income of $15,320 in 2004 and $21,062 in 2005. Between 2000 and 2005, she was involved in over
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IRS Commissioner Douglas Shulman recently announced that IRS agents would have more flexibility to reach settlements with taxpayers who have fallen on hard times. However, struggling taxpayers who turn to the IRS online payment service or toll-free Tax Help Line for IRS tax help may be putting their financial future at risk.
When you attempt to handle your tax problems over the phone with help from IRS agents, you’re essentially putting
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Most of the time, we hear stories about taxpayers seeking tax help from tax relief experts, but who does the IRS turn to when it comes to resolving tax problems?
Recently our team at Tax Resolution Services received a cold call from a taxpayer in IRS trouble. It turns out, the taxpayer was referred to our expert team of tax attorneys, CPAs, and Certified Tax Resolution Specialists by her daughter, who
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With a record number of bankruptcies filed in the last year it’s important for taxpayers to know whether it’s possible to discharge taxes in bankruptcy. If you qualify for discharging your IRS tax debt through bankruptcy, you have an opportunity to achieve permanent tax relief and a fresh start. Find out more about eliminating your back taxes with these important tax relief bankruptcy tips.
Most taxpayers don’t realize that IRS tax
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In the latest news about tax evasion charges for UBS account holders, five more has just been found guilty for hiding funds overseas.
According to Wall Street Journal, “A number of UBS clients have agreed to plead guilty to criminal charges for failing to report funds held overseas or by overseas entities.”
In many cases, people who know they are facing tax evasion charges will plead guilty for a lesser penalty than
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April 15th has come and gone–if you’re one of many struggling taxpayers who either did not have enough money to pay your taxes in full or have not yet filed your return, there’s still hope!
The key is to file any tax returns that are due as soon as possible to avoid additional interest, penalties and potential IRS collection tactics, such as a levy on your bank account.
Even if you were
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Every year, millions of taxpayers fail to file legally required tax returns by the April 15th deadline, and this year that number is expected to rise due to the economic recession and the dramatic increase in unemployment.
If you have unfiled tax returns it is always better to file them — whether they’re a couple days or a couple years late — than to not file them at all. Filing any
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With April 15th’s tax filing deadline come and gone, taxpayers still need to stay alert about their IRS tax relief options, what common filing mistakes to watch out for, and how to avoid tax relief scams.
Recently, Brian Compton–president of Tax Resolution Services and tax relief expert, was interviewed for the Loop21 to share some top tax help tips with taxpayers who have been busy this tax season.
Read on for expert
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Our team at Tax Resolution Services is honored to have our Tax Resolution University blog featured as #8 on the “20 Best Blogs for Tax Advice” this year.
As a team of dedicated tax attorneys, CPAs, and Certified Tax Resolution Specialists, we are happy to be nationally recognized for our devotion to educating taxpayers and business owners on their tax relief options. We understand that it can be very overwhelming to
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Make no mistake about it, the IRS is serious about getting your tax return. Filing your tax return every year is not a voluntary act–and you had better file your own than let the IRS do it for you.
According to NYTimes, through mid-March, the IRS reportedly received 68.7 million returns, 3 percent fewer than at the same time in 2009.
In this economy, many Americans may opt to not file because
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With just days until federal and state taxes are due, taxpayers who cannot afford to pay their 2009 taxes need to know that they still have IRS tax relief options they can utilize in order to avoid severe IRS penalties and the long-term consequences of unfiled tax returns.
If you don’t have enough money to pay the IRS this year, send in a $10 check with your tax returns on April
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