Every year, hundreds of thousands of people fail to file their taxes – and this year we can expect that number to rise due to the economic recession and the dramatic increase in unemployment.
Encino, CA (Vocus) March 23, 2010
As unemployment continues to rise and many Americans struggle to pay their monthly bills, less people are expected to file their taxes by the April 15th deadline, including those unable to pay their IRS bill.
H&R Block recently announced that year-to-date tax returns prepared have fallen by 8.2% from the prior year. While some taxpayers are opting to prepare their taxes themselves or using tax preparation software to save on fees, there are also many Americans who simply can’t afford to pay their taxes.
“While people who find themselves in this position frequently don't know where to turn, it is important that they know that there are options for tax relief available,” said Michael Rozbruch, founder and CEO of Tax Resolution Services, Co., a company that provides affordable solutions to people with IRS problems. “Every year, hundreds of thousands of people fail to file their taxes – and this year we can expect that number to rise due to the economic recession and the dramatic increase in unemployment.”
According to Rozbruch, there are many reasons why taxpayers may be tempted to not file a tax return this year. In this weak economy, many Americans aren’t expecting a refund or fear owing back taxes that they can’t pay. Others may not know that they are required to report taxable income such as discharged credit card debt. Even if they can’t afford to pay their taxes, it’s important to understand that failing to file legally required tax returns often contributes to more significant problems with the passing of time.
“With the IRS increasing enforcement and taking aggressive action when pursuing tax cheats, the worst thing Americans can do is avoid their tax obligations,” Rozbruch said. “In these tough economic times, taxpayers need to know that they can get expert tax help with delinquent tax returns, qualifying for an Offer in Compromise tax settlement or negotiating an IRS payment plan to permanently settle their tax debt.”
Tax Resolution Services, Co. is dedicated to providing affordable solutions to businesses and individuals alike who find themselves in trouble with the IRS. Their expert team of tax attorneys, CPAs, and Certified Tax Resolution Specialists has a success rate of 90% - second to none in the industry - and an Offer in Compromise Settlement Rate of $0.11 on the dollar. For more information or to receive a FREE tax relief consultation, visit TaxResolution.com or call (818) 774-1813.
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