IRS Question: Can I Erase Tax Debt in Bankruptcy?

Thursday, May 16th, 2013

Question: I am filing bankruptcy to get out from underneath debt brought on by some bad financial decisions. Can I discharge in bankruptcy the IRS back taxes I owe for tax years 2008 and 2009 that amount to roughly $25,000? I am struggling financially to pay off all the debt I incurred in this mess but am particularly overwhelmed with the tax debt. Do I have any chance at tax

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For Those With Tax Debt, Solutions Are Available

Friday, May 10th, 2013

If you have tax troubles that haven’t been addressed, it’s time for you to see a tax professional and get to know your options.
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I remember his face, clear as day.
Panicked — that’s the only word to describe it.
I shook his hand; it was a clammy. He was nervous.
For the sake of this column, I’ll call him Bill. At the time, he was my newest client.
Bill was holding a copy of

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Tax Expert Gives Tips on Filing and Tax Payments

Thursday, April 4th, 2013

During my interview last tax season on the Midday Sunday Fox 11 with host Tony Valdez program, Mr. Valdez posed a scenario that many today may be facing: they have finished preparing their taxes, but don’t have the money to pay them. What should they do? This is a common question and the good news is that taxpayers with tax debt have options! Below the video, I offer some solutions. If

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IRS Lists ‘Dirty Dozen’ Tax Scams: Don’t Fall Victim!

Wednesday, April 3rd, 2013

The IRS has released its annual list of the top 12 tax scams. Make sure the tax advice you’re following isn’t on this list.
———————————-
If it’s too good to be true, it probably is.
That well-worn maxim applies to many things in life.
Including, of course, tax advice.
Someone saying you don’t need to pay taxes? Others claiming they can help you hide money off shore?
It’s all too good to be true.
In fact, some

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Eliminating Joint Tax Filing Could Help Innocent Spouses

Wednesday, March 13th, 2013

A Forbes article by contributor Peter J. Reilly titled “Time to Eliminate Joint Filing?“ proposes whether joint filing is really beneficial to couples. In recent years, Reilly has come to think that joint returns for married couples are not such a great idea especially at a time when the federal government is deciding its definition is of marriage through the Defense of Marriage Act (DOMA). Other reasons for doing away with

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Feds Still Coming After Unreported Offshore Account Holders

Friday, March 8th, 2013

A recent Wall Street Journal article titled “Offshore Tax Probe Picks Up” shows the Feds continuing to go after Swiss banks both big and small. The government has also expanded their search for U.S. tax cheats in countries such as Israel, India, Singapore, China and elsewhere they believe citizens might be sheltering their secret accounts to evade paying taxes on them.
The article reports that on Monday Switzerland’s oldest private bank, Wegelin

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IRS Agent Coerces Sex with Threat of Tax Audit Penalty

Wednesday, February 6th, 2013

Straight out of a soap opera script, the IRS appears to be facing its own public relations nightmare in the form of a sex scandal. A Huffington Post article titled “Vincent Burroughs Accuses IRS Agent Dora Abrahamson of Coercing Sex by Using Threat of Tax Penalty“ reveals the details of a salacious and inappropriate meeting between IRS agent and taxpayer under audit.
It appears agent Dora Abrahamson initially contacted Vincent Burroughs,

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Swiss Bankers Caught Hiding Offshore Accounts from IRS

Tuesday, December 25th, 2012

If you think the saga between the U.S. government and Swiss banks was over, think again. An article titled Feds Charges Swiss Bankers with Tax Conspiracy from Accounting Today reports on the U.S. government’s continued offensive on worldwide offshore account disclosure. The most recent target: Swiss bank, Zuercher Kantonalbank (ZKB) who the U.S. Government claims attempted to hide the accounts of American clients from the IRS.
According to the article, the

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Tax Resolution’s New Certified Tax Resolution Professionals

Saturday, December 22nd, 2012

It’s one thing to say you’re a “tax resolution specialist” but it’s another to back up that designation with formal credentials. At Tax Resolution Services, Co., (TRS), we require that all of our Tax Attorneys, CPAs and Enrolled Agents meet additional educational, experience, and examination requirements prescribed by the American Society of Tax Problem Solvers (www.ASTPS.org) making them Certified Tax Resolution Specialists (CTRS).
Founded in 1998, Tax Resolution Services, Co. is

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Preparing a Plan for Alternative Minimum Tax Relief

Wednesday, December 19th, 2012

If current debt negotiations are agreed to soon, we may avoid going over the fiscal cliff but it doesn’t mean we’re out of the woods. There will be IRS problems with getting those federal tax laws written which will result in delaying the 2012 tax season. A Barron’s article titled Tax Refund Delays Could Trigger Recession reports on how the tax issue surrounding the delayed refunds could actually send our

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Follow Tax Resolution Services on Google+

Thursday, June 28th, 2012

Good news! Tax Resolution Services is on Google+.  Find TRS on Google+ and follow our page for: Tax relief tips
Tax resolution videos
TRS photos and more. Google+ is real-life sharing, rethought for the web. Google+ aims to make sharing on the web more like sharing in real life. Check out Circles, Messenger, and Hangouts. We encourage you to create your Google+ account today and follow TRS on Google+. No related posts. No related posts.

Tax Expert Leads Free Webcast for Tax Practitioners

Wednesday, May 9th, 2012

Eva Rosenberg is known as the TaxMama®, giving out much needed tax information to those in trouble with the IRS and doing all of it with a mother’s touch.
Tomorrow, Wednesday May 9th at 12:00pm (Pacific) it’s time for me, the TaxMan to meet the TaxMama and deliver sound advice through a complimentary (that’s FREE) live webcast. The topic we’ll be focusing on is “IRS Practice: Overview of Collection Issues.”
If you

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Tips from the Pros: How to Handle an IRS Audit

Friday, March 30th, 2012

I came across a great IRS article this week posted on NASDAQ.com in which a former CPA and current tax attorney shares the lessons he learns when he gained notification of an audit of his 2009 personal income taxes.
You see, even us tax professionals are subject to IRS audits justlike anyone else.  You would probably assume a tax attorney would not be intimidated by an IRS audit, but in

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IRS Audits of Wealthy Taxpayers Are Paying Off

Wednesday, March 28th, 2012

In case you haven’t noticed, the IRS is doing quite well collecting taxes from wealthy Americans. An article in the LA Times by Tiffany Hsu titled IRS collected $2.4 trillion in taxes, audited more multimillionaires demonstrates how IRS audits of millionaires has helped to contribute to the first revenue increases the IRS has seen since 2008.
From October 2010 through September 2011, the IRS collected $2.4 trillion in taxes from 234

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Tax Resolution Expert-Five Reasons to Hire One

Sunday, March 25th, 2012

While taxpayers are allowed to represent themselves before the IRS, it doesn’t mean they should. There are instances where hiring a tax resolution expert such as a tax attorney or certified tax resolution specialist is highly recommended especially if your personal or businesstax problems are too large, complicated and risky to handle on you own.
For example cases that involve IRS audit, IRS criminal prosecution, payroll/corporate tax issues and IRS

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IRS Bankruptcy-Five Tax Relief Options for Back Taxes

Wednesday, March 7th, 2012

With the economy still sputtering, many tax stressed people teetering on the edge of IRS bankruptcy enter our offices wanting to know if their IRS tax debt could be wiped away with bankruptcy protection. While in some cases back taxes can be discharged (personal income tax), in mostcases, they cannot. However,the good news is that taxpayers in this situation have options. Here are the five simple tax relief options

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Tax Expert Explains Ways to Pay IRS Debt

Saturday, March 3rd, 2012

I was recently quoted in an article for CreditCards.com entitled Pros and Cons of Paying the IRS with a Credit Card where I encourage taxpayers to compare the costs of using their credit cards to pay their taxes versus a negotiated IRS installment agreement if they don’t havethe case on hand. I enjoy lending my expertise to this conversation because all too often, I see very smart people rush

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Delinquent and Unfiled Tax Returns? 8 Steps to Resolving Them

Thursday, March 1st, 2012

If you have unfiled and delinquent tax returns, you’re probably dreading this tax season; owing back taxes to the IRS is a big burden. Doing nothing to resolve them, however only makes matters worse and more expensive. Even if the IRS isn’t currently knocking on your doorto remind you of your tax debt, you are not out of the woods and will need to devise a plan for

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Chicago Commissioner Indicted on Tax Fraud Charges

Thursday, March 1st, 2012

The Chicago politician currently on the hot seat is Cook County Commissioner and former South Side alderman William Beavers. Beavers is facing indictment on tax fraud charges for keeping campaign funds and a county stipend without paying federal taxes on them. A Chicago Tribune article entitled William Beavers Indicted on Tax Fraud Charges reported on just how far Beavers is willing to go to protect his name and perceived political

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Obama Proposes More Money for IRS Enforcement

Wednesday, February 29th, 2012

A major focus of the Obama Administration has been to reduce the “tax gap” (the difference between the amount of taxes reported and what the government actually collects). Nowhere has this become more obvious than with the President’s 2013 budget solicit.  A recentarticle in OMB Watch entitled Obama Proposes Exempting IRS from Budget Caps, reports on the Administration’s solicit to have some IRS enforcement spending be “excluded” from budget

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