Archive for August, 2010
« Previous EntriesTaxpayer Resolves $91,000 in IRS Back Taxes with Help From Nation’s Leading Tax Relief Firm
Tuesday, August 31st, 2010If you are a struggling taxpayer who owes fortunes in back taxes, you may be skeptical when you hear that the IRS would discharge your debt for less than the amount owed if you qualify for the IRS Offer in Compromise program.
One of our clients, Gregory T. was a skeptic before, but he is a [...]
Nation’s Leading Tax Relief Firm Helps Distressed Homeowners Resolve Back Taxes
Monday, August 30th, 2010Many Americans who have lost their homes to foreclosure, may find a nasty and expensive surprise awaiting them. The IRS may pursue them for back taxes relating to the foreclosure, which, for tax purposes, may be treated like a sale. The IRS may deem the foreclosure a form of debt cancellation, which potentially renders it taxable [...]
Discharging Income Tax Debt – Bankruptcy Laws in Brief
Monday, August 30th, 2010In reality, IRS taxes, penalties and interest can qualify for complete 100% discharge in Bankruptcy. Naturally, the IRS does not like to present and discuss the use of Bankruptcy to remove such tax liabilities. At Tax Resolution Services, Co., we are actually hired by bankruptcy attorneys to determine whether or not the taxpayer’s taxes are [...]
IRS Bank Levies: Tax or Wage Levy
Monday, August 30th, 2010The IRS is the most brutal collection agency on the planet and they have beefed up their collection efforts – they are at the peak level of brutal enforced collection with Congress having appropriated much money for collection efforts this fiscal year. If you seek tax relief over your IRS tax troubles, you need proper [...]
Innocent Spouse Tax Relief – Act Swiftly to File Your Claim with the IRS
Sunday, August 29th, 2010The Seventh Circuit Court of Appeals has in recent tax relief news ruled the IRS can continue to apply the two-year deadline for those taxpayers looking to file for “innocent spouse” relief. This treasury ruling upholds that taxpayers claiming innocent spouse tax relief have to make their claims within 2 years of the IRS’s commencement of collection action.
What is [...]
Offshore Bank Accounts – Get Tax Help if You Missed the FBAR Amnesty Deadline for IRS Voluntary Disclosure
Sunday, August 29th, 2010If you have undeclared funds in foreign bank accounts, now is the time to act!
Did you know that FBAR tax penalties can amount to 200-300% of the asset value of an offshore account? If you have an offshore account and missed the IRS’s Foreign Bank and Financial Accounts (FBAR) amnesty deadline (October 15th), it is not [...]
Bank Reform Bill Offers Some Relief for Taxpayers, Though the IRS Continues to Enforce Collections to Pay for Bailout
Saturday, August 28th, 2010President Obama has signed into law the most comprehensive set of changes to the American financial regulation since the 1930s, commenting that “every American from Main Street to Wall Street has a stake in our financial system”.
The Dodd-Frank Wall Street Reform and Consumer Protection Act imposes new restrictions on the derivatives market (worth $450 trillion), places new [...]
IRS Back Taxes Case: Family of California’s Lt. Governor Settles $100,000 Tax Bill
Friday, August 27th, 2010Yet another IRS case of the rich and famous owing back taxes has sprung up! Last month, the family of the lieutenant Governor of California, Abel Maldonado, paid $111,146 in back taxes to the IRS, after the government placed a tax lien on the business, the family farm.
The family of the governor paid the back taxes [...]
Top Tax Relief Firm Tax Resolution Services, Co. is Honored in Inc. Magazine as Top 5000 Fastest Growing Private Companies in US
Wednesday, August 25th, 2010On behalf of my excellent team, I am excited to share that Tax Resolution Services was named to Inc. magazine’s 2010 list of the 5,000 fastest-growing private companies in the country. We earned the position of 1,691 on Inc’s annual rankings honoring the significant accomplishments, contributions, and creativity of the nation’s top businesses and entrepreneurs.
I [...]
Tax Relief News: 7 Critical Errors to Avoid When Filing For an IRS Offer in Compromise
Wednesday, August 25th, 2010 Find out how to protect yourself from committing the 7 deadly sins of IRS Offer in Compromise settlements so you can successfully get out of back taxes Purgatory to achieve tax relief salvation.
Even though the IRS is more aggressive than ever to collect unpaid back taxes from people, taxpayers who are in severe financial [...]