Jeopardy Assessments Allow IRS to Freeze Assets The recent tax troubles of Barcelona soccer star Neymar da Silva Santos serve to point out the very powerful nature of tax collection agencies. Earlier this month, a Brazilian judge froze almost $50 million in assets to prevent to Neymar from hiding funds that might be needed to… Continue reading →
Settlement
Tax Debt Reduced by Filing Past Due Returns
Tax Debt Reduced Through Filing of Past Due Tax Returns Sometimes resolving a back tax balance is as simple as filing past due tax returns. The case of Mr. P involved just that! When he contacted our office, he had not filed either his corporate tax returns or his personal income tax returns for the… Continue reading →
Franchise Tax Board Assessment Stopped
Franchise Tax Board Assessment Stopped Just one month after finalizing an Offer in Compromise with the Internal Revenue Service, Mr. C contacted Professional Tax Resolution with another tax settlement issue. Having successfully settled his federal income tax debt for less than 20% of the initial amount owed, he now needed our services to help with… Continue reading →
Pros & Cons of Outsourcing the Collection of Tax Debt
Pros and Cons of Outsourcing the Collection of Tax Debt The Senate Finance Committee has recently revived their discussion of outsourcing the collection of back taxes. According to certain estimates, turning the collection of delinquent taxes over to private collection agencies would save the government more than two billion dollars over a period of ten… Continue reading →
Back Tax Balance Reduced by 80%
Back Tax Balance Reduced by 80% Mr. C was referred to Professional Tax Resolution by a friend who had previously used our services. Having failed to respond to a Notice of Intent to Audit for tax year 2005, he had recently received an IRS Notice informing him that he owed over 150k in back taxes…. Continue reading →
Tax Debt of $200k Settled for $1000!
Tax Debt of $200k Settled for $1000! Mr. W is a self-employed individual and the main provider for his family. As a member of the construction industry, his income fluctuates with the housing market which was in a downturn for an extended period of time. As a result, he had difficulty generating enough income to meet… Continue reading →
