Blog

Bankruptcy or Offer in Compromise? Let’s look closer.

Bankruptcy or Offer in Compromise? Let’s take a deeper look together. In my blogs, I make every attempt to present complex information in as clear and understandable a format as possible. Here is another example of my goal. Bankruptcy or Offer in Compromise; This topic is one  my colleagues would argue is best left to the professionals. I […]

Should You Negotiate with the IRS if you Owe less than $15,000?

  Imagine for a moment, it is a beautiful late summer day when you go out to get the mail. A letter from the IRS has arrived. Negative images spring to mind. The IRS never writes unless it is bad news. You immediately open it to find 6 pages of detailed explanation you don’t understand, […]

The US Busts a Huge Fraud Ring – Heck Yes!

The News After a three-year investigation, the Department of Justice arrested 56 people in the US, and five call centers in India, accused of running a phony IRS phone call scheme. The case involves over 15,000 victims and more than $300 million in stolen money. Starting in 2013, the scammers initially used the “Grandma scam”, […]

Three Types of IRS Installment Agreements

HOW IT STARTS The first step in the collection process for the IRS: They will establish a liability does exist. once this is done the IRS can demand payments. the approach taken by the IRS is through a series of computer generated notices sent to the taxpayer. those cases not settled through Automated Collections System […]

Owner of First Touch Payment Solutions Co. Has the Last Touch of His Worker’s Employment Taxes

  Q: What happens if I don’t pay Employment Taxes A resident of Germantown, TN, Larry Thornton was sentenced to one year in prison and ordered to pay more than $10 million in restitution for failing to pay more than $8 million in employment taxes. Thornton owned 2 companies, First Touch Payment Solutions, a credit […]

Reasons I am Thankful this Year.

Thanksgiving has historically been the time of year I review the successes and difficulties of the recent past. I tally up our investments, review our health, and explore where will we be celebrating the holidays. This year has been unique and special presenting two wonderful reasons to be thankful.  The first is the opportunity to […]

Yes, I signed the tax return… but I’m innocent!

Imagine for a moment, it is a beautiful late summer day when you go out to get the mail. A letter from the IRS has arrived. Negative images spring to mind. The IRS never writes unless it is bad news. You immediately open it to find 6 pages of detailed explanation you don’t understand, except […]

Let’s Work together to end your relationship with the IRS.

The IRS is a non-stop juggernaut whose purpose is to collect money to fund the operation of the US government. With the advent of improved automation and computing power combined with the faster transfer of information to the IRS it has at its fingertips more information about you and your financial activity then at any […]

Trust Fund Recovery Penalty Investigation: Criminal Proceedings

Trust Fund Recovery Penalty Investigation: Criminal Proceedings IRS Criminal Investigation (CI) investigates and prosecutes suspected lawbreakers to promote taxpayer compliance. It is true that CI recommends prosecution of only a small number of taxpayers each year (a few thousand), the takeaway here is that most cases result in convictions. Early identification of potential criminal liability […]

Tennessee State Representative Blames His Accountant for Not Disclosing More Than $300,000 in Earnings to the IRS

In a trial that began in early August, 2016, Tennessee State Representative Joe Armstrong is being tried for tax evasion stemming from not disclosing a gain of $300,000 on his 2007 tax returns. Prosecutors claim that Armstrong conspired with his accountant to hide proceeds from a scheme involving cigarette tax stamps. In 2007, Armstrong purchased […]