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According To Industry News, 3 Well Known Tax Firms Have Gone Under(September 15, 2012)
Jupiter, FL (PRWEB) September 15, 2012
People have seen their commercials on TV for years. Roni Deutch, Tax Masters and JK Harris were well known tax resolution firms. A recent report on Daily Finance illustrated Roni Duetch may earn jail time. According to an article on The Post and Courier JK Harris is liquidating it's assets and of course Tax Masters has been ordered to pay more than $195 million in penalties for defrauding it's clients according to an article written by Fox Business.
Read more: Patrick Cox from TaxMasters. After a long run of millions of dollars spent in media and endless commercials, all three of them have gone out of business.
Based on these recent articles it seems they all made claims to their clients of being able to "settle tax debt for a fraction of what is owed." Class action lawsuits have been brought against all of them with accusations of misrepresentation.
The fact that they were constantly on TV gave them a lot of credibility for potential clients. No matter how many complaints were reported to Better Business Bureau or Ripoffreport.com. More and more people fell victim to these tactics signing up with false hopes of much needed tax relief.
First and foremost IRS guidelines clearly show there is no "MAGIC WAND" that will make tax problems go away. The best way to get out of tax trouble is to prevent it from ever happening to begin with. It's very important to be proactive when it comes to tax issues and responsibilities. Staying in compliance by filing tax returns in a timely manner is key to being tax problem free.
Research shows people who find themselves in trouble with the IRS seem to have some common characteristics. The most common tendency when people realize they owe money on their tax return and don't have the ability to pay it, is to bury their head in the sand and pretend the problem doesn't exist. They often have the propensity to NOT file their tax return due to the fear of not knowing what kind of trouble they could be facing. It's common for this cycle to continue year after year due to the fear of the unknown and only comes to a halt when IRS enforces collection activity like bank levies or wage garnishments.
The very obvious point to this story is to stay on top of tax responsibilities to prevent future problems. However for the millions of people who have already found themselves in tax trouble, it's never too late to stop the bleeding and realize there is a cure.
The fact that there's been some bad apples in the bunch when it comes to tax resolution firms has caused some people to try and handle their tax problems on their own rather than getting professional help. However. There are in fact tax firms such as Tax Help MD that will give you real solutions to your problems without promising the "Magic Wand" approach and without charging you thousands of dollars upfront. A very sad truth is that the IRS will take advantage of a taxpayer without professional representation especially if they do not know their rights as a taxpayer. Whether they do it intentionally or not is another story but it happens every day. The old cliche "Never talk to the cops without an attorney." holds true with the IRS as well.
Call a tax professional, get a free consultation before contacting the IRS. Find out what options are available before giving information to the IRS that could be detrimental to a case. Otherwise it may make it more difficult for a tax professional to present a case efficiently and effectively. Each tax case has its own specific remedy and must be realized before moving forward with an overall plan for resolution. Contact a reputable tax professional who is willing to help by, obtaining the master transcripts from IRS and complete a thorough financial analysis. With these two things combined, a reasonable and affordable solution to IRS problems can always be achieved.
Read the full story at http://www.prweb.com/releases/2012/9/prweb9893690.htm.
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