Posts Tagged ‘unfiled tax returns’

Tax Relief Tips for How Long to Keep IRS Records

Monday, May 6th, 2013

Every year after the tax day, clients inquire as to what tax documents they need to keep and for how long. Last tax season I wrote a blog post on the subject, inspired by a Forbes article by Tax Girl, Kelly Phillips Erb titled: “How Long Should You Keep Records after Tax Day?” I thought the information would be helpful for those who may be wondering what documents to hold
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Tax Changes to Know before Filing a 2012 Tax Return

Thursday, February 28th, 2013

An article by Forbes titled “11 Changes You Must Know Before Filing Your Tax Return for 2012” reminds us that the recent changes to the tax code could affect many of us and our wallets this tax season. Here are eleven important changes that the article highlights:

Payroll Tax Credit for Self-Employed Taxpayers
W-2 Forms Changed This Year Due to the Affordable Care Act (ACA)
2010 Roth Conversions May Be Subject to Tax
Tax
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Tax Resolution Services, Co. Saves Client $35,000

Monday, February 18th, 2013

Sometimes clients describe their tax situation as “Tax Armageddon.” That’s how our client Mike felt when he first came to Tax Resolution Services, Co. facing huge tax debt issues. While it may “feel” like Armageddon, it really isn’t because there is a solution to every problem even Mike’s. Here’s his story:
“I went through a divorce several years ago and found myself strapped for cash because all of a sudden there
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Tax Resolution Services Co. Client Saved $80,000

Friday, January 25th, 2013

On the run up to tax day, I will continue posting client success stories and testimonials. The purpose is to remind taxpayers with IRS tax debt issues they are not alone. Often through these client’ stories, which may be similar to their own, struggling taxpayers will be inspired to take the first steps and get tax help.
It’s rewarding when we get the best IRS tax settlement for our clients that
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Weekly Tax Relief News Round-Up

Friday, December 14th, 2012

Happy Friday! Here is a recap of some of the tax relief news reported on this week.
Tax Liens and Levies – I am proud to announce the release of the 14th episode of my national network television show, Tax Man. This episode was designed to feature many different tax topics so that people in trouble will have a reference and better understanding of what to do when tax problems occur. The
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Avoid an IRS Audit-Tax Tips for Charitable Giving

Tuesday, December 11th, 2012

‘Tis the season for gift giving and with the tax season approaching quickly, the IRS has sent out a “special addition tax tips“ bulletin regarding charitable contributions to help taxpayers understand how their generosity can benefit their taxable income. However, every year thousands of taxpayers overstate these “gifts” and claim charitable deductions significantly higher than their their income level, raising red flags and often triggering an IRS audit. This is not
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IRS Tax Relief with the Cohan Rule

Monday, December 10th, 2012

Taxpayers facing IRS debt problems due to unfiled tax returns are not alone; a typical Tax Resolution Services non-filing client has between 4-7 years of unfiled tax returns.  The good news is that even if they have no documents, we can still file the missing tax returns and begin the process of getting these taxpayers into tax compliance. This is possible due in large part to vaudevillian entertainer, George M.
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To Avoid Tax Issues-Americans Give Up Passports

Monday, May 14th, 2012

There is little doubt that wealthy Americans are under scrutiny for tax collection. Nowhere is this more obvious than for those who have offshore bank accounts. More U.S. citizens living abroad are deciding to renounce their U.S. citizenship instead of facing IRS tax problems concerning new U.S. tax regulations namely the Foreign Account Tax Compliance Act (FATCA) aimed at curbing tax evasion.
The subject of renouncing citizenship made front page headlines
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Tax Man Gives Tax Relief Tips on Big Biz Show Blog

Tuesday, May 1st, 2012

I recently posted tax relief tips on the Big Biz Show blog. Here is a link to the blog post and I would encourage readers who missed the tax deadline to take a look.
With tax season a recent memory and many still facing difficult tax issues, the topics covered in the post focused on how to deal with these common IRS tax problems:

IRS audits
Delinquent tax returns
Tax debt payment options: using
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Tax Relief Weekly News Round-Up

Friday, April 27th, 2012

Happy Friday! The common theme in last week’s news was aimed at giving tax relief advice to those who did not make the tax filing deadline of April 17.
Here are some of the highlights:

The IRS just released a video entitled Employee or Independent Contractor? aimed at getting employers to properly classify their workers as either an employee or independent contractor. Improper classification can result in steep IRS penalties but many
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Back Tax Help-How Long to Keep IRS Records

Wednesday, April 25th, 2012

Like clockwork, about a week or two after the April 17 tax deadline, I begin fielding taxpayer questions regarding what tax documents to keep and for how long.  A recent article in Forbes by Tax Girl Kelly Phillips Erb entitled How Long Should You Keep Records after Tax Day? provided good guidelines on the subject.
Here are seven basic recommendations for keeping tax documents both individuals and small businesses can follow:
In
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Tax Resolution Services Offers Returning Veterans Free Tax Advice

Wednesday, April 18th, 2012

As a member of the American Society of Tax Problem Solvers (ASTPS) Returning Combat Veterans Program, Tax Resolution Services is honored to offer free tax services for to military personnel returning from combat duty facing IRS problems and in need expert tax relief.
According to a USA Today article released yesterday entitled Troops owe IRS $390 million, some military men and women are finding themselves exiting a war zone to come
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Proposed Law Could Revoke Passport for Tax Debt

Wednesday, April 18th, 2012

If another tax day has passed you by without resolving your IRS tax issues, take note. There is current legislation making its way through the Senate that aims to revoke your passport privileges if you have significant tax debt. I wrote a previous blog post on the bills introduction but a recent article in msn.com entitled “In the hole to Uncle Sam? Bill aims to strip your passport” reports on
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Tax Expert Gives Tax Filing Info on Fox News

Tuesday, April 17th, 2012

As tax day April 17 is coming to a close, some may be wondering if they should file or even if they need to. During my recent interview on Midday Sunday Fox 11 with host Tony Valdez program, Tony inquired about how people don’t file their taxes and become tax delinquent. I explained that at Tax Resolution Services, Co., we work with a lot of non-filers with the average client
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Tax Man Explains IRS on Big Biz Show

Wednesday, April 11th, 2012

Countdown to Tax Day: 6 Days
On a recent episode of the Big Biz Show, we discussed the creation of the Tax Man TV show on Biz Television that morphed out of yours truly giving tax advice as a guest on the Big Biz Show for five years.
The Tax Man Show combines my 30 plus years in the tax business including running Tax Resolution Services, Co. for 15, to gives taxpayers
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