Most people who have had the misfortune of getting behind with the IRS have heard about tax settlements, otherwise known as Offers in Compromise (OIC), as a method for repaying far less than the full amount owed. Many fewer realize that there is an alternate method that can effectuate a […]
Tax Resolution & Tax Relief
Learn about back taxes, tax resolution, offer in Compromise and IRS installment plans. Fortress Financial is an experienced national tax resolution firm. Take a look at our tax relief tips & information below.
Can The IRS Take My Social Security, IRA, 401K, Pension and Retirement?
Many people who owe taxes to the IRS are terrified that the IRS will swoop in and take their retirement nest egg or retirement income, thereby leaving them destitute for their golden years. Can the IRS really do that? Generally, such assets are “off limits” to creditors thanks to federal […]
IRS Threats: What Can They Really Do to Me?
I hear from my clients at times that an IRS Revenue Officer (tax collector) told them they could lose their house, they could be sued, their retirement and 401k will be taken, wages can be garnished, and a whole bunch of other awful scenarios. These types of threats keep people […]
The Secret to Repaying None of Your Tax Debt
You may have heard of people owing the IRS a huge sum of money who claim to have never repaid a penny of it and wondered if this can possibly be true? Are they crazy? We are, after all, talking about the IRS—the country’s most formidable creditor. If you owe […]
When Does the IRS File a Tax Lien?
If you or your business owe money to the IRS, the specter of a tax lien might be keeping you up at night. Will the IRS file a tax lien? When will they do it? How will this affect me? These are all legitimate concerns. What is a Federal Tax […]
6 IRS Collection Notices You Absolutely Need to Notice
Getting behind on your tax obligations to the IRS is very stressful. Much of that stress stems from IRS collection notices. Not only is a delinquent taxpayer’s mailbox flooded with IRS mail, but that mail almost always contains scary, bolded “PAY NOW” demands, confusing language, and seemingly conflicting numbers. Clients […]
Offer In Compromise Jaw-dropping Success Stories
Most of us have watched a TV commercial or heard a radio ad promising that a phone call to an 800 number will result in settling your tax debt for “pennies on the dollar.” Is this too good to be true? The truth is that most individuals and businesses who […]
7 Effective Methods of Avoiding and Resolving Personal IRS Levies and Garnishments
If you are an individual who owes money to the IRS, the last thing you want is for them to freeze your bank account or levy (garnish) your wages. The good news is that there are some very effective methods you can use to avoid such a potentially devastating situation. […]
5 Must-Knows About Personal Liability for Unpaid Employment Taxes (Trust Fund Recovery Penalty)
Are you an owner or employee of a business that is delinquent with employment taxes? If so, watch out! It is possible that you will be held personally liable for what is called the Trust Fund Recovery Penalty. What is the Trust Fund Recovery Penalty? In short, the Trust Fund […]
How to Negotiate IRS Debt
To most people, the Internal Revenue Service is a mystery. It collects taxes and can make your life miserable. But beyond that, how the IRS operates is relatively unknown. This is one of the reasons why, when an individual or business owes a significant debt to the IRS, sleepless nights […]
IRS Final Notice of Intent to Levy (FNIL)
If you or your business had the misfortune of winding up in collections with the Internal Revenue Service, you’ve probably been receiving what might seem like an overwhelming amount of mail from the IRS regarding your tax liability. It is not uncommon for people in this situation to feel a […]
Understanding the IRS 45 Day Rule for a Federal Tax Lien
Many businesses rely on the use of their accounts receivable or inventory as collateral for loans or for factoring. However, in my experience, few business owners fully grasp how devastating the consequences can be if they engage in this type of financing and fall behind with federal taxes. Unfortunately, fully […]
Six Reasons for Payroll Outsourcing
As an attorney who makes his living resolving tax liabilities, the majority of my clients are businesses that have accrued 941 employment tax liability. There are numerous reasons as to why a business accrues a 941 tax liability. These reasons range from mere lack of funds resulting from both internal […]
Why You Can’t “Set It and Forget It” With A Payroll Service
I recently received a phone call from a former client with a big problem. We had negotiated an Offer in Compromise for this client in 2012, saving her business a few hundred thousand dollars. One of the conditions when the IRS accepts an Offer in Compromise is that the taxpayer […]
Can I Resolve Back Taxes By Qualifying For Currently Not Collectible Status?
Benjamin Franklin once said that nothing is certain in this life but death and taxes. I’ll agree that none of us will cheat death. But I may quibble with Mr. Franklin on the issue of whether or not you have to pay all of your taxes. Under the right set […]
Can I Settle My Tax Liability Even Though I Have Enough Income?
Laws often appear to be very black or white. But, real life can feel more like one big gray area. As a governmental entity, the IRS is required to treat all taxpayers equally. With regard to evaluating Offers in Compromise (tax settlements), this means that the IRS has set standards […]
Cash And Acurral Methods Of Accounting Can Impact The Outcome Of A Tax Collection Case
To some business owners, the accounting part of their business is the last thing they want to deal with. “Leave that to the accountant or bookkeeper and let me get to work” is the sentiment I get from a lot of small business owners. Accrual Method of Accounting Many business […]
Fortress Financial Services Featured On Moving America Forward Hosted By William Shatner
Earlier this year, I received a voice message from a producer for a television show called Moving America Forward, hosted by William Shatner. The message stated that they were interested in speaking with me about possibly appearing on their nationally broadcasted television show. Moving America Forward Interviews Fortress Financial Services […]
Will The IRS Seize My Assets, Business Or My Residence?
You and/or your business have accrued a tax liability and are now receiving increasingly threatening letters from the IRS that indicate that they are going to seize your assets. Many questions arise. Can the IRS actually do this? Will they seize my corporate assets and shut my business down? Will […]
IRS Automated Collection System (“ACS”) vs. Revenue Officer: What’s the Difference?
When an IRS tax liability goes to collections, it will either be assigned to the IRS Automated Collection System (“ACS”) or to the Collection field function, where a Revenue Officer will be assigned and charged personally with attempting to collect the unpaid tax. Some delinquent accounts will initially be assigned […]