Tax Resolution Services-Weekly News Round-Up

This week’s tax topics ranged from tax evasion cases to getting tax relief with the IRS Offer in Compromise Program. Here are highlights from the ones covered on the Tax Resolution University Blog:

Tax Evasion

  • Nancy Armienti, 59, of Elmer, New Jersey, admitted to evading federal income taxes in 2008 on nearly $700,000 in income she took from her former employee of Atlantic County Concrete and Material Company. Armienti created false business expense records to conceal the withdrawals and purchases she made with company funds. Armienti faces up to five years in prison and a fine of up to $250,000.
  • Former resident Aneal Maharaj, 65, of Las Vegas received eight years in prison for fraud and tax evasion. From 1990 to 2004, Maharaj defrauded 17 people out of $1.5 million in a multi-level marketing program “PowerNet Marketing Systems ” where he promised participants could pay off a 30-year mortgage in five years or less. Not only did Maharaj not pay commissions to the 17 investors because he knew the system was a fraud, he did not file a tax return since 1995 and used the investor payments for his own gain.

Tax Resolution Services – Client Success Stories and Tax Client of the Month

  • Tax Audit Success Story – In a recent episode of the national network television show, TaxMan, I interviewed former client Mike several years after he first came to TRS under audit and facing a huge tax bill for over $100 thousand dollars (we helped Mike settle his case for $5,000). Mike’s case is a good example of when bad things happened to good people. I wanted Mike to share his story so others who need IRS tax relief know there really is a solution to their tax problems. 
  • Offer in Compromise Success Story - Former client Phillip L. owed about  $130,000 to the IRS when he contacted our offices looking for tax help. We determined Philip was an excellent candidate for the Offer in Compromise program and were able to negotiate an IRS tax settlement for $13,000 reducing his IRS debt by $117,000! 
  • Tax Client Of The Month –This is our way of acknowledging good friends and saying “thanks” to those who support our business with referrals, word of mouth and repeat business. This month’s tax client success story: Mr. Michael T. who owed $55,000 in back taxes when he sought tax relief.  We determined Michael was a good candidate for the IRS’s Offer in Compromise program and after many months of negotiation, we were able to settle his tax debt for just $10,090!

Recent Tax Report – Tax Liens, IRS levies and seizures

  • IRS Collection Increases Over last 10 Years – A recent report shows IRS levies, tax liens and seizures increasing significantly over the last ten years, confirming increased collection efforts. Here are some of the increases revealed in the report. Over the last ten years:
    • IRS levies increased over five times.
    • IRS liens increased nearly two and a half times.
    • IRS seizures increased nearly two and a half times.
    • Criminal tax cases grew over one and a half times.
    • Sentences increased nearly one and a half times.

Next week: Stay tuned for more episodes of the national network television show, TaxMan, client success stories and up to the minute tax news and information.

Have a great weekend!

More Tax Help, IRS News and Tax Relief Tips:

  1. Delinquent and Unfiled Tax Returns? 8 Steps to Resolving Them
  2. Tax Man Explains IRS on Big Biz Show
  3. New Offer in Compromise Policies Bring Tax Relief
  4. TaxMan Episode Defines Installment Agreement Process
  5. Tax Relief Weekly News Round-Up

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