With a focus on Tri-State tax resolution in the New York area, the Manhattan office of the Tax Resolution Institute on Fifth Avenue recently saved a Greenwich, Connecticut Housewife from losing her home and financial safety net on account of her husband’s income tax evasion. By qualifying the housewife for Innocent Spouse Relief, the tax experts at TRI helped the woman protect her children, their home and other assets from the collection efforts of IRS Revenue Officers.
The real challenge was to show that she did not benefit from the extra money that her husband acquired while trading on Wall Street. Since he stowed the profits in offshore bank accounts, the money was never actually used to improve the family’s living conditions. In addition, she came to the marriage with extensive financial resources, and the couple bought their Greenwich home prior to the income tax evasion. Even though the home is not fully paid off, the IRS decided that she qualified for Innocent Spouse Relief because previous economic resources covered the ongoing mortgage payments.
Still, it was challenging, however, to prove that the extra money that was a result of the tax fraud did not benefit the Greenwich family. By helping the woman fill out the extensive IRS questionnaire to verify her story, the tax experts at TRI helped her find real tax relief. At the Tax Resolution Institute, we have extensive experience helping Innocent Spouses properly and successfully fill out such questionnaires in order to gain the Innocent Spouse designation by the IRS. Without question, the long-term consequences of her husband’s criminal actions have deeply affected the family, but at least their future remains safe and secure.
In the difficult economic times since the onset of the recession, many well-off Tri-State business owners have chosen to cut tax corners to cover their investment losses on Wall Street and beyond. Often, it seems such actions are taken without the partner’s spouse being aware of what is happening. As the economic well being of the family is maintained at home, such tax evasion can become deadly when the IRS catches up with these poor choices. As the largest collection agency in the world, the Internal Revenue Service ultimately will track you down and catch you if you choose to evade your income taxes. As for the consequences, just ask Wesley Snipes what a criminal sentence of three years in jail feels like.
If you have evaded your income taxes and you believe your family is in danger of being overwhelmed by the collection efforts of IRS Revenue Officers, please contact the Tax Resolution Institute today. Doing nothing, staying stuck and keeping such a dangerous secret is nothing less than the bell of doom ringing for your family. If you ask for whom the bell of the IRS tolls, it rings for you. At TRI, we can help you by possibly providing Innocent Spouse Relief for your partner and helping you with the very best in tax resolution services. Like the family in Greenwich, we can help you maintain your lifestyle in a tax crisis, protecting your children and their financial safety. Our goal at the Tax Resolution Institute is to help you like we helped the Greenwich innocent spouse and provide freedom for your family.
About Peter Y. Stephan
Peter Y. Stephan, executive director of the Tax Resolution Institute, has been helping people resolve large, complex payroll tax problems and personal income tax problems for over 25 years. Peter has written a book "The Ultimate Tax Resolution Guide" and speaks on Tax Resolution topics frequently.