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About the Show:

Episode Summary:

In this episode of *Resilience and Resolve*  Lance Drury sheds light on the crucial topic of filing unfiled tax returns. Lance emphasizes the IRS's requirement of filing the last six years of tax returns before considering settlement options. He warns against the risks of guessing wrong and highlights the common mistakes made by taxpayers and accountants. Understanding the implications of filing the correct number of years can make a significant difference in resolving tax issues effectively.

Key Timestamps:

00:00 – Introduction

00:45 – IRS regulation on filing tax returns

01:30 – Mistakes made by accountants in advising taxpayers

03:15 – Importance of filing the last six years only

05:10 – Consequences of filing fewer years than required

07:20 – Being compliant for negotiation with the IRS

08:45 – Ensuring 100% compliance moving forward

10:00 – Risks of assuming older years don't matter

11:30 – IRS's ability to enforce collection with unfiled returns

13:00 – Impact of income reporting on filing requirements

14:30 – Opening doors to resolution options with correct filings

16:00 – Advice for individuals unsure about filing requirements

About the Show:

*Resilience and Resolve* with Lance Drury provides essential insights and guidance for individuals and small business owners dealing with IRS tax problems. With over 30 years of experience, Lance helps clients regain control in challenging tax situations, offering actionable strategies to navigate tax-related issues effectively.

Episode Summary:

In this episode, Lance Drury discusses the implications of IRS personal responsibility for business tax debt. He explains how business structures may not always protect individuals, leading to potential personal liability for unpaid payroll taxes. Lance emphasizes the importance of compliance and timely tax payments to avoid personal exposure to IRS collections.

Key Timestamps:

00:00 – Introduction

03:12 – IRS Trust Fund Civil Penalty

06:45 – Personal Responsibility for Sole Proprietors

10:20 – Impact of Business Closure on Personal Collection

14:05 – Compliance and Limiting Personal Exposure

18:30 – Avoiding Personal Tax Debt Risks

About the Show:

*Resilience and Resolve* offers valuable insights on navigating IRS challenges for small business owners and individuals. Lance Drury shares expert advice on resolving tax issues and regaining control when facing overwhelming IRS problems.

Episode Summary:

In this episode, attorney Lance Drury breaks down the crucial concept of IRS compliance in tax resolution. Compliance involves timely filing and payment of taxes, paving the way for negotiation with the IRS. Lance emphasizes the significance of filing over payment, highlighting common pitfalls and misconceptions that can lead to escalating tax debt.

Key Timestamps:

00:00 – Introduction

01:30 – Definition of IRS Compliance

03:15 – Importance of Filing Over Payment

05:45 – Pitfalls of Non-Compliance

07:20 – Resolving Tax Debt Requires Compliance

09:10 – Impact of Compliance on Payment Plans

11:05 – Dangers of Partial Compliance

13:40 – Steps to Achieve Full Compliance

16:00 – Compliance at Federal and State Levels

18:30 – Final Advice on Getting Back on Track

About the Show:

*Resilience and Resolve* is a podcast hosted by attorney Lance Drury, guiding individuals and small business owners through IRS tax issues with over 30 years of experience. Discover actionable strategies and insights to regain control when facing overwhelming tax problems.

Episode Summary:

In this episode of *Resilience and Resolve* Lance Drury discusses the repercussions of an IRS payment plan falling apart. He highlights the critical implications of defaulting on agreements and offers insights into renegotiating new payment plans with the IRS.

Key Timestamps:

00:00 – Introduction

01:30 – Meaning of IRS payment plan default

03:45 – Common causes of payment plan failures

05:20 – Renegotiating agreements after default

07:10 – IRS response time to defaults

09:05 – Impacts of defaulted plans

11:15 – Handling defaulted plans efficiently

13:20 – Mistakes complicating plan repairs

15:00 – Repairing defaulted plans

17:30 – Precautions before IRS escalates

About the Show:

*Resilience and Resolve* is a podcast series hosted by Lance Drury, focusing on assisting individuals and small business owners in navigating IRS-related challenges. With over 30 years of experience, Lance aims to provide clarity and solutions in tax-related matters.

Episode Summary:

In this episode of *Resilience and Resolve* Lance Drury sheds light on the intricate process of unfiled tax returns and the potential consequences individuals face when neglecting to file. He explains how the IRS handles non-filers, emphasizing the importance of taking proactive steps to avoid escalating tax liabilities. By sharing real-life scenarios and expert insights, Lance provides valuable guidance on navigating IRS challenges effectively.

Key Timestamps:

00:00 – Introduction

01:30 – IRS Treatment of Non-Filers

03:45 – Consequences of IRS Preparing Returns for Non-Filers

05:12 – Impact of Failure to File Penalty

07:20 – Filing Compliance and Statute of Limitations

09:45 – Importance of Filing Last Six Years' Returns

11:10 – Risks of Delaying Filing and Fear of Owing Taxes

13:25 – Influence of Unfiled Returns on Payment Plans and Resolutions

15:40 – Steps to Address Unfiled Returns and IRS Settlement Options

18:05 – Final Advice for Those Behind on Filing

About the Show:

*Resilience and Resolve* with  Lance Drury focuses on empowering individuals and small business owners facing IRS challenges. With over 30 years of experience, Lance Drury offers strategic solutions and expert guidance to regain control over tax issues. Tune in for valuable insights and practical advice to navigate complex tax situations effectively.

Episode Summary:

Key Timestamps:

About the Show:

Episode Summary:

Attorney Lance Drury sheds light on what happens when an IRS payment plan defaults and how taxpayers can rectify the situation before it escalates. From the implications of defaulting to practical steps for recovery, Lance provides valuable insights for individuals navigating tax payment challenges.

Key Timestamps:

00:00 – Introduction

01:30 – Consequences of IRS Payment Plan Default

04:15 – Common Causes of Payment Plan Failures

07:20 – Addressing IRS Administrative Challenges

09:45 – Rapid Actions by the IRS Post-Default

12:10 – Success Stories of Resolving Defaulted Plans

15:40 – Immediate Steps for Taxpayers Post-Default

18:00 – Proactive Strategies to Prevent Future Defaults

About the Show:

*Resilience and Resolve* is a podcast series dedicated to providing expert guidance on tax-related challenges, offering practical solutions and insights to empower listeners in navigating complex tax issues successfully.

Episode Summary:

Lance Drury discusses the challenges of working with difficult clients in tax resolution cases, emphasizing the need to manage expectations and maintain clear communication. From setting boundaries to navigating unrealistic client demands, Lance shares insights on client interactions in high-stress financial situations.

Key Timestamps:

00:00 – Introduction

01:30 – Pressure Points with IRS Disputes

03:45 – Managing Unrealistic Client Expectations

05:20 – Importance of Regular Client Communication

07:10 – Challenges with Lower-Paying Cases

09:05 – Setting Boundaries Early on

11:15 – Delaying Resolutions for Better Client Outcomes

13:40 – Putting Everything in Writing for Documentation

15:50 – Practical Steps for Regaining Control of a Case

About the Show:

*Resilience and Resolve* is a podcast hosted by Lance Drury, focusing on navigating high-stress tax resolution cases and providing insights into handling difficult clients effectively.

Episode Summary:

Discover what happens when the IRS freezes a bank account and the steps individuals can take when facing this financial emergency. Learn about the differences between IRS and state levies, the timeline for levy actions, and the importance of proactive communication with the IRS to resolve financial issues swiftly.

Key Timestamps:

00:00 – Introduction

01:14 – Definition of IRS Bank Levy

02:45 – State vs. IRS Levy Differences

04:20 – Notice and Sequence of IRS Letters

06:10 – Control Over Frozen Account

07:45 – Temporary Nature of Bank Levy

09:30 – Immediate Steps After Account Freeze

11:05 – Preventing Levy Escalation

12:40 – Information Gathering Post-Freeze

14:20 – Success Story Resolving Bank Levies

16:30 – Avoiding Bank Freeze: Important Steps

About the Show:

*Resilience and Resolve* is your go-to resource for navigating IRS issues and financial challenges. Led by experienced professionals, the show aims to empower individuals facing tax-related difficulties with actionable strategies and expert insights to regain financial stability.