When it comes to dealing with the IRS, knowledge IS power – the October 15th deadline was another reminder for people to step up to their tax troubles…and my firm’s time to do more education - separating myths from the facts
ENCINO, CA (PRWEB) October 15, 2012
The October 15th, 2012 tax extension deadline, for 2011 returns, served as a reminder for many delinquent taxpayers to resolve their IRS tax debt issues. In a recent blog post, Michael Rozbruch, founder and CEO of leading tax relief firm Tax Resolution Services, Co., points out that people searching for relief need to be wary of tax relief myths that often end up exacerbating existing problems.
"My Tax Resolution University blog serves as a hub for tax relief information, advice, and overall tax resources for people who regularly seek out up-to-the-minute news, education, and financial health," says Rozbruch. "When it comes to dealing with the IRS, knowledge IS power – the October 15th deadline was another reminder for people to step up to their tax troubles…and my firm’s time to do more education - separating myths from the facts."
For consumers confronting IRS tax debt, Rozbruch addresses six of the most common myths including:
- An IRS “Substitute for Return” (SFR) Is Final
- A Tax Extension Can Protect You from IRS Scrutiny
- You MUST Pay Your IRS Tax Bill in Full
- People Who Don’t File Tax Returns Are Lazy and Don’t Care
- Filing Dates Increase your Chances of an IRS Audit
- You can’t afford to hire a Certified Tax Resolution Specialist
Included in those common fictions needing to be dispelled is the notion that a tax extension can protect one from IRS scrutiny. In fact, it's better to file on time and then to show a good faith effort to resolve total debt by paying as much as one can afford. What is more, during these recessionary times, the IRS is offering more methods of payment and payment plans to more people. Also, filing dates have little impact on the IRS's decisions to conduct audits, as opposed to tax reporting of huge business losses, unreasonable deductions, and incorrect reporting of W-2's or 1099s.
“The IRS's collection methods and intensive scrutiny create a lot of pressures on taxpayers,” says Rozbruch. “Given that reality, it is understandable that some might avoid filing their tax returns, due to fear-based procrastination over their ability to pay.” Rozbruch recommends taxpayers hire a tax attorney or certified tax resolution specialist who can uncover filing mistakes or other related problems, find the best IRS repayment opportunities, and help with delinquent returns. In other words, his firm, Tax Resolution Services, Co., helps “rehabilitate” the taxpayers.
Rozbruch observes, "The myth that one simply can't afford to hire a tax resolution specialist is patently wrong. Lack of financial representation can result in significant losses or in some cases even ones’ freedom. A certified tax resolution specialist or tax attorney can help reduce IRS penalties, or even negotiate your tax debt based on your current ability to pay."
For more expert analysis of breaking tax news and other financial issues facing the nation, visit Michael Rozbruch's blog at http://www.taxresolution.com/blog.
About Tax Resolution Services, Co. (TRS)
The tax attorneys, CPAs, EAs, and tax relief professionals at Tax Resolution Services, Co., have successfully settled thousands of cases over the past 14 years, and are committed to providing affordable, competitive solutions to businesses and individuals. Got IRS stress? Contact TRS. To find out how Tax Resolution Services, Co. can help, or to receive a free tax problem consultation, visit TaxResolution.com or call (888) 851-5894.