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Chicago – IRS and Divorce

September 23, 2013 by admin

By: Steven Leahy
Steven A. Leahy
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IRS and Divorce: Chicago IRS Debt Relief

Could the IRS Make You Get Divorced? In Chicago and need IRS Relief for Tax Debt?

Numerous studies have shown that the money problems are the #1 source of arguments in marriage.

Money problems caused by credit debt, loss of a job, unforeseen expenses – you name it…it’s all stressful on a marriage.

But if you toss an IRS problem into the mix, you may have a recipe for disaster. The IRS has more far-reaching power than any collection agency could ever have.

No other entity has the power to dip into your bank account, garnish your wages, seize your property, put a lien on your house…and possibly put you in jail.

So if money problems cause arguments, IRS problems can cause absolute fallout.

Of course, if divorce follows as a result, it introduces a whole host of other problems emotionally and financially.

Not to mention the damaging effects that marital problems and divorce has on your children… So the IRS can’t cause a divorce, but they sure can contribute to one. You owe it to yourself, your spouse and your children to put and end to this madness and get on with your life.

IRS and Divorce. We will help you figure out the best option for your situation. Call Opem Tax Resolution – The Law Office of Steven A. Leahy, PC (312) 664-6649. Call Now to schedule your FREE 1 hour Consultation!

Filed Under: Uncategorized

Arrrggg… Who Would Have Guessed that Finding Ye Some Sunken Treasure Would Lead To Bankruptcy

August 20, 2013 by admin

Most of us could only dream of the possibility of finding sunken treasure. However, in 1980 that is exactly what Tommy Thompson’s deep-sea exploration company did. It wasn’t just a few pieces of eight either. When they found the wreck of the SS Central America off of the coast of North Carolina Mr. Thompson’s crew pulled more than three tons of gold, silver and other treasures from the watery depths. The entire haul was estimated to be worth at least $100 million dollars.

However, that seems to be where Tommy Thompson’s luck ran out. After the big finding he has been fighting non-stop with former partners and investors. He has had his company taken over after a court order and he is caught up in quite a bit of bankruptcy issues. On top of that it seems that Mr. Thompson decided to run off and disappear. An order for his arrest has been issued.

Really, after looking at this case, it seems that finding a treasure of gold may cause you more headaches than it is worth. If you are facing bankruptcy we really don’t recommend you take to the high seas and try to disappear. Bankruptcy is hard but it can ultimately lead to a fresh start. Your situation doesn’t have to get as messy as Mr. Thomson’s did, give us a call and let us help you take care of your problem.

To read more about the Bankrupt Treasure Hunter you can read the full Wall Street Journal article here. http://blogs.wsj.com/bankruptcy/2013/07/15/receiver-wants-fugitive-treasure-hunters-bankruptcy-case-tossed/

Filed Under: Uncategorized Tagged With: chicago il irs lawyer, chicago irs lawyer, irs lawyer chicago, irs lawyer chicago il

The Truth about Voluntary Tax and Tax Protester in Chicago

August 13, 2013 by admin

Steven A. Leahy

Have you ever heard that paying taxes in the United States is considered “voluntary” by the IRS?

That’s what a number of tax protesters in this country might lead you to believe.

They might also lead you to believe that filing tax returns is voluntary, too…

Here’s the truth: Paying taxes is voluntary IF you would like to volunteer to go to jail. Ever since Congress passed into law the 16th Amendment tothe Constitution in 1913, tax protestors have brought upfrivolous arguments against the existence of the IRS.

They challenge the government’s right to force the citizens of this country to pay taxes. Some of the most vocal opponents of the IRS have even gone on to become outspoken authors and speakers, teaching people how to “live tax free” at seminars, on websites and in books…

Don’t volunteer to line the pockets of liars & con-artists. In the United States, you are required to file and pay taxes.

The only thing that’s voluntary about it is that you are the one that gets to do it, instead of the government doing it for you. If you haven’t paid your taxes or you haven’t filed because you’ve been led astray by a tax-protesting book,website and/or public speaker – you may have fallen for a huge con.

If you’ve been fooled by the tax protesters, we can help. If you are in trouble with the IRS or have received notices that you owe taxes, we can help. Call Opem Tax Resolution – The Law Office of Steven A. Leahy, PC (312) 664-6649. Call Now to schedule your FREE 1 hour Consultation!

Filed Under: Uncategorized

Chicago: IRS Partial Payment Agreement vs. IRS Offer in Compromise

August 13, 2013 by admin

Steven A. Leahy
Chicago: IRS Partial Payment Agreement vs. IRS Offer in Compromise

IRS Partial Payment Agreements vs. IRS Offer in Compromise

It used to be the only way you could pay less to the IRS than that you owed was to get them to (somehow) accept an Offer-In-Compromise.

But… there’s a problem. Offers-in-Compromise aren’t approved very often these days. In fact, they are only approved a little over 15% of the time they are submitted.

The odds are not in your favor with this method. And it usually takes a skilled tax attorney to have even a chance of making an Offer-in-Compromise successful.

Now, though, this isn’t the only way. There is another way that you can get the IRS to reduce your debt.

You can use a Partial Payment Agreement.

With a Partial Payment Agreement you prove that you can only afford a certain amount in payments.

And then the IRS can only bill you for that specific amount.

When you are done paying that’s all you owe, and the rest of your debt is forgiven.

But there are a couple of catches.

#1. Documenting how much you can afford is a lot of work. And unless you follow very specific guidelines, the IRS may not accept your proposal.

#2. The IRS reviews Partial Payment Agreements every two years. So you may end up owing more.

#3. If your financial situation improved too much, they can completely terminate the agreement altogether.

Even with these conditions a Partial Payment Agreement can work well for many people.

If you are in trouble with the IRS, then our office can help. We will help you figure out the best option for your situation. Call Opem Tax Resolution – The Law Office of Steven A. Leahy, PC (312) 664-6649. Call Now to schedule your FREE 1 hour Consultation!

Filed Under: Uncategorized

How the IRS Determines Negligence Vs. Tax Fraud

August 12, 2013 by admin

Do you know what the difference is between negligence and fraud. The IRS will penalize you for both but facing fraud charges will be much more severe. For instance a negligence charge on your tax return may add a 20% penalty to your bill, but if you are hit with a tax fraud charge you may face a 75% penalty. Fines and penalties are only the beginning. In case of fraud you may also be put under the IRS’s criminal investigation division and be fighting serious charges.

So what is the difference. Well, tax fraud is the willful act done with the intent to defraud the IRS. This means you made claims on purpose to trick the system. On the other hand, tax negligence is making an honest mistake on your tax returns. Even the IRS knows that the tax law is complicated so they usually will understand when a taxpayer makes a mistake.

If you are facing charges by the IRS for either negligence or fraud contact us today at (866)664-6647 to receive a free consultation.

To learn more about the differences between negligence and fraud you can read the following article provided online. http://www.nolo.com/legal-encyclopedia/negligence-versus-tax-fraud-irs-difference-29962.html

Filed Under: Uncategorized Tagged With: chicago il tax attorney, chicago tax attorney, tax attorney chicago, tax attorney chicago il

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