Doctor Sentenced for Failing to File FBAR Reports

Thursday, February 2nd, 2012

Michael Reiss, New Jersey doctor, professor and medical researcher, was sentenced on January 11, 2012 for failing to report his offshore (UBS) bank accounts. According to the IRS, Reiss was sentenced to eight months in a community confinement center for failing to file Reports of Foreign Bank and Financial Accounts (FBAR) with the IRS. Reiss pleaded guilty in August 2011 and agreed to pay back taxes of at least $400,000

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Doctor Sentenced for Failing to File FBAR Reports

Thursday, February 2nd, 2012

Michael Reiss, New Jersey doctor, professor and medical researcher, was sentenced on January 11, 2012 for failing to report his offshore (UBS) bank accounts. According to the IRS, Reiss was sentenced to eight months in a community confinement center for failing to file Reports of Foreign Bank and Financial Accounts (FBAR) with the IRS. Reiss pleaded guilty in August 2011 and agreed to pay back taxes of at least $400,000

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IRS Tax Help for Disaster Victims

Friday, January 27th, 2012

The National Oceanic and Atmospheric Administration (NOAA) reported 12 natural disasters in 2011 that each caused more than $1 billion in damages, ranging from Hurricane Irene, to severe wildfires, tornadoes and flooding.  As the victims of these disasters rebuild their lives from utter destruction, this tax season many are receiving IRS tax help.
USA Today’s article Tax Relief Possible for Losses in Natural Disasters reports the good news that taxpayers affected

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Offshore Tax Evaders Get Preferred IRS Help

Wednesday, January 25th, 2012

An article in Bloomberg entitled IRS Called Easy on Criminal Tax Evaders in Watchdog’s Critique outlines Nina Olson of the National Taxpayer Advocate’s concerns that intentional tax evaders get more IRS help than those who weren’t intending to hide money from the U.S.government. Olson warns that future IRS collection efforts could be jeopardized due to confusion over the treatment of accidental tax evaders. The IRS sees

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IRS Incentives Provide Small Business Tax Help for 2011

Friday, December 30th, 2011

At Tax Resolution Services, we help individuals and small businesses find a solution for their IRS tax problems. For a small business owner, this means not only spelling out the resolution process, but also the assessment and prevention of future tax issues down the road. It cannotbe said enough that sound legal and financial advice helps to streamline operations and is key to small business success both in good

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Offshore Accounts and Swiss Banks– No Longer a Secret

Saturday, December 24th, 2011

This Tuesday, a deadline passed in which 11 Swiss banks were given an IRS ultimatum to hand over account information and pay billions in fines to avoid US tax evasion prosecution. However, what the banks have not divulged are the claims that they would also have to provide all correspondence of their offshore clients over the last 11 years. An online article from “US tax “ultimatum” has Swiss banks sweating”

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IRS Halts Fingerprint Requirement for Tax Preparers

Saturday, December 10th, 2011

The IRS has temporarily suspended its controversial plan to fingerprint tax preparers in large part due to objections raised by the American Institute of CPA’s (AICPA). An excerpt from Accounting Today’s article, IRS Delays Tax Preparer Fingerprinting Requirements, shows IRS chief Doug Schulman, acknowledging  they got the message and have decided “to hold off fingerprinting” while they consider all the information obtained by “interested parties.”  The AICPA letter to the

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Tax Resolution Tip: Selecting the Right Tax Help Service

Saturday, December 3rd, 2011

If you are considering seeking expert tax help for your back taxes or IRS problems, you might be feeling overwhelmed by the sheer amount of tax attorny and tax relief agencies available. Don’t rush into selecting the first tax resolution service that claims to rid you of yourIRS debt for life. That is probably a scam and could cost you a lot more in addition to what you already

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Bad Real Estate Situation Turns into IRS Problems for Retired Couple

Monday, November 7th, 2011

Retired and on a fixed income, our client Carol and her husband ended up owing the IRS $18,000 after a bad real estate situation.  With no options, Carol started to do some research and discovered the great help Tax Resolution Services had done for others in her situation. Tax Resolution Services negotiated with the IRS and Carol and her husband’s IRS debt was reduced to $5300. To hear Carol’s personal

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Glenn Beck Endorses Tax Resolution Services on GBTV

Wednesday, November 2nd, 2011

On his new channel, GBTV, multi-media personality Glenn Beck gives a rousing “thumbs up” to Tax Resolution Services as the best firm in the business to settle back tax issues. Beck, no fan of the IRS and never shy to share his opinion, concludes (in the video clip below) that we all must take care of our tax responsibilities, no matter what. Glenn Beck’s main points include: Being honorable and paying your

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Sick Retiree Seeks Tax Relief from Owed Back Taxes

Tuesday, November 1st, 2011

Our client Bill was incredibly ill and racked up three years of failure to file his tax returns. All said and done, Bill owed the IRS $66,000 dollars in taxes, penalties and fines. With nowhere to run and no means to pay the full amount, Bill turned to Tax Resolution Services for help.  The Tax Resolution Services team was able to step in and help Bill to clear his debt

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IRS Problems for Independent Contractor Behind on Quarterly Estimated Taxes

Saturday, October 29th, 2011

As an independent contractor, Sharon fell behind on her quarterly estimated taxes, resulting in penalties and back taxes totaling $93,000. When Sharon knew she would never be able to catch up she turned to Tax Resolution Services to help negotiate down her penalties, saving her around $70,000 dollars. You can listen to Sharon’s story below to hear how Tax Resolution Services helped her:
Tax Resolution Service Client Testimonial: Sharon If you are

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How to Prevent Tax Liens-Act Now

Wednesday, October 12th, 2011

These are challenging financial times for many people. What makes this economic recession so unique is that it has gone on for so long and transcended so many income levels. In it’s wake, it has left an increasing number of consumers more financially vulnerable than ever before. These tax distressed individuals, fearful and often not sure what to do have avoided delinquent tax issues and are finding themselves on the

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Distressed Homeowners Can Resolve Their IRS Back Taxes

Monday, October 10th, 2011

The US economy has been slow to recover from the recession, and as a result, many American homeowners have lost their jobs and are unable to find new employment. These same folks, some out of work indefinitely, are struggling to pay their bills and keep a roof over their head. Households who find themselves this far underwater and unable to pay their mortgage may feel forced to consider home foreclosure

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Tax Shelters Spring a Leak-Offshore Tax Evaders Take Note

Tuesday, October 4th, 2011

In less than a month after the voluntary offshore bank declaration amnesty deadline expired, the results are showing that tax collection efforts from once elusive off-shore account holders appears to be working. A recent Reuters News Article – America’s Rich Losing Tussle with Taxman dated September 30, revealed that since 2008, the IRS has been successful at cracking down on off-shore tax shelters and going after Swiss banks (initially) and

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Tax Resolution Services interviewed by Terry Bradshaw

Friday, September 9th, 2011

“When Bad Things Happen to Good People” is an appropriate title for the recent episode of Business Day TV with Terry Bradshaw featuring an interview with the leaders of Tax Resolution Services, Co. This special episode acknowledges the poor economic realities currently facing many Americans, some for the first time and often through no fault of their own. Negative life altering events such as job loss, death of a loved one

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Tax Resolution Tip: Hiring a Tax Expert

Thursday, September 8th, 2011

Today’s Tax Resolution Tip:
If you’ve taken the first step in resolving your unsettled back taxes you have admitted you have a tax problem and need tax help. But where to go for help? There are many firms and individuals claiming to resolve your tax problems forever. However, you need to make sure any tax assistance you seek is relevant to your individual tax problem.
If you are considering hiring a Certified

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Got back taxes? It’s Never Too Late to File a Tax Return

Thursday, September 1st, 2011

For anyone with outstanding tax debt, I wanted to provide additional information to the IRS’s advisory list of Ten Tips for Taxpayers Who Owe Back Taxes or Have Other Tax Debt newsletter published a few weeks ago. The IRS’ objectives on this subject are simple; collect every cent of taxes owed as soon as possible. In order to achieve this, the IRS has made the payment process easy by widely

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Tax Debt– 10 Tips for Those Who Owe Money to the IRS

Tuesday, August 30th, 2011

The IRS newsletter Ten Tips for Taxpayers Who Owe Back Taxes or Have Other Tax Debt published a few weeks back, alerted Americans seeking tax debt relief there are ten options available to pay off their outstanding tax debt. These new IRS programs and policies are an effort to getdelinquent taxpayers to avoid additional fines penalties or tax liens by making easy payment methods available such as a

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IRS Amnesty Deadline August 31

Thursday, August 18th, 2011

Foreign Bank Account Report (FBAR) violators be warned that time is running out to report offshore bank accounts. The time to file is now! The second (and possibly the last) IRS amnesty program is set to expire on August 31, 2011. We had a recent press release hit about this called Tick, Tock, Tax – IRS Amnesty Program’s August 31st Deadline is Approaching Fast.
With no replacement program on the horizon,

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