ENCINO, CA, October 16, 2008
/24-7PressRelease/ -- Amid the slow economy and increasing federal deficit, a much needed surge in tax revenue means that a growing number of taxpayers can expect to be audited while Americans already burdened by tax debt will find it harder than ever to resolve their IRS tax problems.
In fiscal year 2007, IRS audit rates were up from the previous year for both individuals overall and higher-income taxpayers. Additionally, audits of S Corporations were up 26% and audits of partnerships increased almost 25% from 2006.
According to tax expert Michael Rozbruch, the IRS will continue to increase audits of corporations, partnerships and individuals. And if you do receive an IRS audit letter, you should respond strategically and by the deadline in order to avoid being placed in the collection department.
"If the IRS garnishes your wages, they can take as much as 75% of your net pay and make you live on $168 a week," said Rozbruch, founder and CEO of Tax Resolution Services, a company that provides affordable solutions to people with IRS problems. "The IRS is the most brutal collection agency on the planet. Their job is to collect money and that is all they care about."
While taxpayers can expect renewed IRS compliance efforts, the national credit crisis will make it even more difficult for Americans to pay their taxes. But Americans who anticipate having problems with their taxes should know that there are ways to work with the IRS.
"Not filing your taxes is the worst thing you can do because you can incur a 25% failure to file penalty right off the bat," Rozbruch said. "What you need to do is start lining up expert tax representation to help negotiate a payment plan or an offer in compromise on your behalf."
Tax Resolution Services is dedicated to providing affordable solutions to businesses and individuals alike who find themselves in trouble with the IRS. The tax experts at TRS have a success rate of 90% - second to none in the industry - and an Offer in Compromise Settlement Rate of $0.13 on the dollar. For more information or to receive a FREE tax relief consultation, visit http://www.TaxResolution.com or call (818) 774-1813.
Press Release Submission By PressReleasePoint(http://www.pressreleasepoint.com/)
Contact:
Debbie Edwards
Tax Resolution Services
Encino, Calif
818 774 1813
Debbie@taxresolution.com
http://www.taxresolution.com
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