IRS - Hitman

I receive tons of e-mails throughout the day from people in desperate need of Tax Help. I never mind answering questions, feel free to drop me a line if you have specific questions. But I never usually share them along with my answers with the readers. But now, I'm sharing...

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Recent Tax Settlement Announcements: IRS Commissioner Doug Shulman recently announced that the IRS is loosening it's rules for negotiating Tax Settlements (Offer in Compromise) to allow taxpayers hit by the recession to pay less than they owe. Why the change? IRS Commissioner Doug Shulman claims that IRS Agents will be...

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The Last and the Worst: Most people don’t put the IRS at the top of their priority list and here’s why: If you don’t pay your electric bill, they cut off your power. If you don’t pay your car insurance, they terminate the policy. You could go years without hearing...

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Tax Liens wreck havoc on your Credit Report. And the bad news is, Tax Liens can remain on your credit report for years after you have already paid off your Tax Debt. Unpaid Tax Liens can remain on your Experian credit report for up to 15 years, and they will...

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Getting This Far: You were warned. The IRS sent you notice after notice, which were promptly ignored. Then the “Final Notice and Intent to Levy” arrived. It's certified mail, and it looks serious. And it is. The IRS can seize your assets or garnish your paycheck if you don't act...

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Tax Liens are devastating, so why would the IRS continue to impose them? The answer is simple; the IRS will continue to impose Tax Liens because they work. As long as Liens are being filed, taxpayers will be strained into paying their Tax Debt! Ruined Credit Once a Lien is filed your...

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The Silent Killer You may have heard of the IRS Tax Levy. It's a vicious tool the IRS uses to seize money and assets. Tax Liens don't transfer your property to the IRS, but they certainly mess up your credit. Not many people know how serious the dangers of a...

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Even if a professional is preparing your returns, it's important to note that ultimately, you're the one responsible of your Tax Returns. If your Tax Preparer makes a fatal error, you take the blame. Be very cautious when you choose a Tax Preparer.  Here's more tips to help you choose...

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Can't Pay? Don't pay! If there is no feasible way to pay your IRS Tax Debt, you can declare Financial Hardship to stop their fierce collections efforts. Although this is usually a temporary reprieve, it is still a valuable tool for taxpayers in desperate situations. Currently Not Collectible (CNC) The IRS cannot...

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Terry Hoskins resorted to extreme measures when he bulldozed his $350,000 home to keep a bank from foreclosing on it. According to Terry, he strugged with his bank over his home for years and had ongoing problems with the IRS. He claims the IRS place liens on his carpet business and...

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If you owe the IRS, there’s no time to lose. You need to pay, and fast! If you call the IRS directly you’ll learn they only want to talk about one thing, and that’s how soon you can pay in full. But that’s not your only option. You can pay...

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The IRS commissioner had the following to say about the tragic Austin Plane Crash: Like most Americans, I am shocked by the tragic events that took place in Austin this morning. This incident is of deep concern to me. We are working with law-enforcement agencies to fully investigate the events that...

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IRS News of the Weird: This Tax Season has bought on the wildest Tax Schemes and dramatic Tax Events in recent history. Joe Stack, sick of the IRS, flew his small plane into an IRS Building; Terry Hoskins bulldozed his home to the ground to prevent the IRS from seizing...

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Capital gains and losses could have an impact on your tax return this year. For tax filing season, the IRS wants you to know these Top 10 Facts about Capital Gains and Losses and how they could affect your tax filing situation. 1. Almost everything you own and use for personal...

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Installment Agreements allow a taxpayer that owes the IRS to repay the debt in a set amount of monthly payments. Installment Agreements are the most commonly used IRS payment method. And the IRS doesn't mind, considering how much more money this can make them at your expense. Read on if...

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Settle Down: If you have a tax debt and are in need of settling, you have a few options available to you. Most taxpayers are not able to pay off their debt in full. If this is your case, and you are unable to pay the IRS through an Installment...

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Knowledge is Power it sounds corny, but it's true. Most people don't have a clue when it comes to IRS rules and regulations. And naturally, few people have knowledge of the countless forms and documents the IRS requires taxpayers to fill out. So get out your pen and take notes,...

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I’m INNOCENT, I tell ya! Is the IRS banging your door down, and sending threatening letters when you know you don’t owe? You’re not alone. I talk with dozens of people daily that believe they don’t owe the IRS. The Straight Answer: From my personal experience, only 2% of taxpayers...

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I was back at the Hitman Headquarters, answering distress signals (e-mails) from taxpayers in need. When all of the sudden, I run into this e-mail: This e-mail is NOT from the IRS. If you see it in your inbox, do not reply. Simply delete it. The IRS has gone on the...

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Tax Defense Network's The Tax Kids have made a new video. Check it out above!The Tax Kids are dedicated to spreading the word about Tax Issues and making serious issues easier to understand. You can check out their official YouTube Channel here.I’m Richard Close and I was a “Hitman” for...

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Slump City: So, you're in debt and you can't pay it off. If you've got some money stashed away in a 401k, here's a few things you should know about that money.No Taxes! When you put money into your 401k plan, you don't have to pay taxes; sounds good right?...

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The Last and the Worst: Most people don’t put the IRS at the top of their priority list and here’s why: If you don’t pay your electric bill, they cut off your power. If you don’t pay your car insurance, they terminate the policy. You could go years without hearing...

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Don't Pay Your Spouse's Tax Debt Whether you're planning a wedding, or you're newly married, you have a lot to learn in this arena. I'm not qualified to give marriage counseling- long story. But, if you've recently gotten married or plan to get married in the near future, here's some...

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Free at Last: Ten long years have passed since the IRS first discovered your Tax Debt. Somehow, you've made it this far without being levied, bullied, and laid to rest. But now the IRS can't collect from you anymore! Right?Actually, They can.Contrary to popular belief, the IRS can continue...

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If the IRS doubts an expense you list on your tax returns, they'll ask for supporting documents. Many taxpayers e-mail me asking how they can get documentation for expenses for the IRS. Here's a quick refrence list:How to get Documents for Common Allowable Expenses:Rent/Mortgage: Show your monthly statement to the...

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