Episode Summary:

In this episode of Resilience and Resolve, host Evan Mack and attorney Lance Drury delve into the complexities of dealing with IRS Offer in Compromise rejections. Lance, with over 30 years of experience in tax resolution, explains the common reasons why offers are rejected and the importance of professional guidance in these situations. He highlights the appeal process as a crucial step for taxpayers whose offers are initially rejected and discusses alternative solutions like partial pay installment agreements.

Lance emphasizes the need for thorough documentation and understanding of IRS standards to increase the chances of acceptance. This episode is essential for anyone facing IRS tax issues, offering insights into navigating rejections and finding viable paths forward.

Key Timestamps:

00:01 – Introduction

00:08 – Overview of Offer in Compromise

00:39 – Common Reasons for Rejection

01:08 – Importance of Professional Help

02:16 – Documentation and Compliance

03:20 – Appeal Process Explained

04:56 – Equity and Asset Considerations

06:41 – IRS Evaluation Criteria

07:30 – Notification and Next Steps

09:06 – Alternative Solutions

10:19 – Mistakes to Avoid

11:53 – Understanding IRS Evaluations

12:51 – Final Advice for Rejected Offers

About the Show:

Resilience and Resolve is a podcast dedicated to helping individuals and small business owners navigate the complexities of IRS tax issues. Hosted by attorney Lance Drury, the show provides practical advice and insights into tax resolution strategies, focusing on clarity and actionable steps.

Listeners gain valuable knowledge on handling tax disputes, understanding IRS procedures, and exploring legal options. With a commitment to ethical guidance and expert analysis, Resilience and Resolve empowers its audience to tackle tax challenges with confidence and informed decision-making.

Episode Summary:

Key Timestamps:

About the Show:

Episode Summary:

In this episode of Resilience and Resolve, host Evan Mack sits down with Attorney Lance Drury to explore the intricacies of the IRS appeals process. Lance, with over 30 years of experience assisting individuals and small business owners, shares insights on how taxpayers can challenge IRS decisions without heading straight to court. He explains the role of the IRS Office of Appeals and highlights the advantages of pursuing this route.

Lance discusses common issues addressed through appeals, such as collection due process hearings and audit disputes, and emphasizes the importance of proper documentation. He also warns against handling appeals alone, as saying the wrong thing can escalate matters. Listeners will gain valuable knowledge on how to effectively navigate IRS disputes and the importance of seeking professional guidance to achieve favorable outcomes.

Key Timestamps:

00:01 – Introduction

00:14 – Understanding IRS Appeals

00:37 – Role of IRS Office of Appeals

01:02 – Options After IRS Decisions

01:33 – Importance of Legal Representation

02:17 – Stages for Requesting an Appeal

03:02 – Current Challenges with the IRS

03:59 – Differences in Appeals Process

04:41 – Common Issues in IRS Appeals

05:29 – Examples of Successful Appeals

06:00 – Importance of Documentation

07:00 – Mistakes in Handling Appeals Alone

09:22 – Options for Challenging IRS Decisions

About the Show:

Resilience and Resolve is a podcast dedicated to helping individuals and small business owners navigate complex legal and financial challenges. Hosted by experienced attorney Lance Drury, the show delves into topics such as tax disputes, IRS appeals, and financial planning with clarity and practical advice.

Each episode aims to empower listeners with the knowledge and strategies needed to resolve their issues effectively. Whether you're facing IRS problems or seeking guidance on financial matters, Resilience and Resolve provides expert insights to help you achieve peace of mind.

Episode Summary:

In this episode of Resilience and Resolve, host Evan Mack and Lance Drury delve into the intricacies of IRS collection due process hearings. Lance explains the rights taxpayers have to challenge IRS collection actions and the importance of understanding these rights to prevent unwarranted levies. The discussion highlights the backlog at the IRS, which has led to delays in hearings and alternative strategies like equivalency hearings.

Lance emphasizes the need for accurate financial documentation and the potential for negotiating settlements or payment plans. This episode is crucial for anyone facing IRS collection actions, providing insights into how to effectively navigate the process and protect one's financial interests.

Key Timestamps:

00:01 – Introduction

00:14 – Taxpayer Rights and Collection Due Process

00:40 – Understanding Collection Due Process Hearings

01:06 – IRS Backlog and Its Impact

01:54 – Alternative Strategies: Equivalency Hearings

02:51 – Importance of IRS Funding and Staffing

03:54 – Challenging IRS Actions

04:48 – Suspension of Collection Actions

05:18 – Preparing Financial Documentation

06:46 – Compliance and Resolution Opportunities

07:26 – Mistakes to Avoid in IRS Hearings

09:01 – Importance of Timely Response to IRS Notices

About the Show:

Resilience and Resolve is a podcast dedicated to helping individuals and small business owners navigate complex IRS tax issues. Hosted by experienced Attorney Lance Drury, the show offers practical advice and insights into taxpayer rights and IRS procedures. With a focus on clarity and actionable strategies, the series aims to empower listeners to effectively manage their tax challenges and achieve favorable outcomes.

Episode Summary:

In this episode of Resilience and Resolve, attorney Lance Drury joins host Evan Mack to explore the complexities of IRS enforcement when it comes to business taxes. Lance, with over 30 years of experience, explains the critical distinctions between business and personal asset targeting by the IRS. He discusses the implications of unpaid payroll taxes, the importance of keeping business and personal finances separate, and the potential consequences of IRS actions on business operations.

Lance emphasizes the necessity of professional guidance to navigate these challenges effectively and offers practical advice for business owners facing IRS pressure. Listeners will gain valuable insights into protecting their business assets and ensuring compliance with tax obligations.

Key Timestamps:

00:01 – Introduction

00:05 – IRS Focus on Business vs. Personal Assets

01:08 – Trust Fund Civil Penalty Interview

02:29 – Commonly Targeted Business Assets

03:35 – IRS Enforcement Priorities

04:36 – Importance of Compliance for Business Owners

05:33 – Separating Business and Personal Finances

07:00 – Impact of IRS Actions on Business Operations

08:05 – Challenges with Business Tax Liabilities

09:02 – Shifting IRS Focus from Business to Personal Assets

10:03 – Mistakes in Handling IRS Issues

12:50 – Professional Assistance for IRS Challenges

About the Show:

Resilience and Resolve is a podcast dedicated to helping individuals and small business owners navigate complex IRS tax issues. Hosted by experienced attorney Lance Drury, the show offers practical insights and strategies for resolving tax problems, with a focus on clarity and actionable advice.

Whether dealing with personal or business tax challenges, listeners will find valuable information to help them understand their rights and options. The series aims to empower listeners with the knowledge needed to tackle IRS issues head-on.

Episode Summary:

In this episode of Resilience and Resolve, Attorney Lance Drury discusses the critical topic of IRS property seizures for unpaid tax debts. Lance explains the circumstances under which the IRS might seize physical property, such as homes, and the types of property they typically pursue, like bank accounts and wages. He highlights the importance of responding to IRS notices promptly to avoid enforcement actions and shares insights into the IRS's use of AI to expedite collections.

Lance also recounts real-life cases, illustrating the consequences of ignoring IRS communications and the potential for financial hardship. Listeners will gain a deeper understanding of how to navigate IRS enforcement actions and the importance of seeking professional guidance to protect their assets.

Key Timestamps:

00:01 – Introduction

0:14 – IRS Enforcement Actions Overview

0:42 – Common IRS Collection Methods

1:38 – Types of Property Subject to Seizure

2:20 – Bank Levies vs. Wage Garnishments

3:10 – IRS Notices and Warnings

4:42 – IRS Decision-Making on Seizures

5:25 – Real-Life Case Study: Ignoring IRS Notices

6:48 – Expanding Legal Practice Globally

7:19 – Impact of IRS Letters on Client Actions

8:09 – IRS Property Sale Process

9:08 – Property Types Typically Avoided by IRS

9:46 – Mistakes Leading to IRS Enforcement

10:34 – How IRS Situations Typically Unfold

About the Show:

Resilience and Resolve is a podcast dedicated to helping individuals and small business owners navigate complex tax issues with the IRS. Hosted by Attorney Lance Drury, the show provides practical advice and insights into tax law, focusing on clarity and actionable strategies. Whether you're facing IRS enforcement actions or seeking to understand your tax obligations better, this podcast offers valuable guidance to help you resolve your tax challenges effectively.

Episode Summary:

In this episode of Resilience and Resolve, host Evan Mack sits down with Lance Drury to demystify the complexities of federal tax liens. Lance, with over 30 years of experience in resolving IRS tax issues, explains the triggers and implications of a federal tax lien. The discussion covers the differences between a lien and a levy, the process of filing a lien, and the potential impact on property and credit.

Lance shares insights on how to handle tax liens, including the importance of resolving tax liabilities to avoid severe consequences such as levies. He also highlights common mistakes people make when dealing with liens and offers practical advice for those looking to navigate these challenges. Listeners will gain valuable knowledge to manage their tax situations effectively and avoid pitfalls.

Key Timestamps:

00:01 – Introduction

00:09 – What Triggers a Federal Tax Lien

00:38 – Understanding Federal Tax Liens

01:58 – Differences Between a Lien and a Levy

03:10 – Situations That Trigger a Lien

03:41 – IRS Notification Process

04:30 – Resolving Tax Liens

06:11 – Impact on Credit and Property

07:00 – Options for Resolving Tax Debt

08:10 – Common Mistakes After a Lien is Filed

09:07 – Moving Forward with a Tax Lien

09:46 – Conclusion

About the Show:

Resilience and Resolve is a podcast dedicated to helping individuals and small business owners navigate complex tax issues with the IRS. The show features expert insights from Lance Drury, who brings over three decades of experience in tax law.

Each episode breaks down intricate tax topics into clear, actionable advice, empowering listeners to make informed decisions and resolve their tax challenges. Whether you're facing a tax lien, levy, or other IRS-related issues, Resilience and Resolve provides the guidance you need to protect your financial future.

Episode Summary:

In this episode of Resilience and Resolve, host Evan Mack is joined by Attorney Lance Drury to discuss the intricacies of dealing with the IRS when they suspect hidden income or assets. Lance shares insights from his extensive experience, highlighting common pitfalls taxpayers encounter, such as failing to disclose rental properties or co-mingling personal and business finances. He emphasizes the importance of maintaining accurate records and understanding the implications of asset transfers, particularly those that might be deemed fraudulent conveyances.

Lance recounts real-life cases, illustrating how seemingly minor actions can escalate into significant legal challenges. The episode provides listeners with practical advice on how to manage their financial disclosures effectively and avoid unnecessary complications with the IRS. This conversation is essential for anyone facing IRS scrutiny, offering strategies to navigate these situations with confidence and clarity.

Key Timestamps:

00:01 – Introduction

00:40 – IRS Concerns Over Undisclosed Assets

01:34 – Red Flags in Financial Statements

02:32 – Importance of Documentation

03:10 – Role of Bank Records in IRS Investigations

03:57 – Challenges with Co-mingling Finances

04:27 – Transactions That Raise IRS Suspicions

05:14 – Case Study: Fraudulent Conveyance

06:03 – Misunderstandings About Asset Transfers

07:19 – Impact of Hidden Assets on Tax Resolution

08:12 – Consequences of Poor Record-Keeping

09:23 – Mistakes in Managing Tax Problems

10:24 – Advice for Taxpayers Facing IRS Scrutiny

About the Show:

Resilience and Resolve is a podcast dedicated to helping individuals and small business owners navigate complex tax issues with the IRS. Hosted by experienced Attorney Lance Drury, the show delves into real-world cases and provides practical advice on resolving tax disputes.

With a focus on clarity and actionable insights, Resilience and Resolve aims to empower listeners with the knowledge they need to handle tax challenges effectively. Whether you're dealing with personal tax issues or managing a business, this podcast offers valuable guidance to ensure compliance and peace of mind.

Episode Summary:

In this episode of Resilience and Resolve, host Lisa Mosbey and attorney Lance Drury delve into the intricacies of providing financial information to the IRS during tax resolution cases. Lance, with over 30 years of experience, explains the importance of adhering to national standards and the types of documentation required to verify income and expenses.

He shares insights on how the IRS scrutinizes financial disclosures, the potential consequences of inaccuracies, and the critical role of legal documentation in negotiating payment plans or settlements. Through real-life anecdotes, Lance illustrates the pitfalls of non-compliance and the significance of transparency with the IRS. This episode is essential for anyone dealing with IRS tax issues, offering practical advice to ensure a smoother resolution process.

Key Timestamps:

00:01 – Introduction

00:09 – Verifying Financial Information with the IRS

00:36 – National Standards and Documentation Requirements

01:22 – Case Study: Excessive Spending on Meals

02:45 – Legal Obligations and Allowable Expenses

03:28 – Types of Records for IRS Verification

04:47 – Importance of Disclosing All Assets

05:17 – Bank Statements vs. Physical Receipts

06:13 – Red Flags in Financial Disclosures

07:15 – Consequences of Non-Compliance

09:12 – Payment Plans vs. Settlement Options

10:43 – Risks of Incomplete or Inaccurate Information

12:19 – Criminal Implications of Unpaid Sales Tax

13:42 – Ensuring Accuracy in Financial Submissions

About the Show:

Resilience and Resolve is a podcast dedicated to helping individuals and small business owners navigate complex IRS tax issues. Hosted by attorney Lance Drury, the show offers expert insights into tax resolution strategies, compliance, and legal obligations.

Each episode breaks down critical topics with clarity and practical advice, empowering listeners to tackle their tax challenges with confidence. Whether you're facing an audit or seeking to understand your rights, Resilience and Resolve provides the guidance you need to make informed decisions.

Episode Summary:

In this episode of Resilience and Resolve, host Lisa Mosbey sits down with Lance Drury to demystify the IRS financial disclosure process, particularly focusing on IRS Form 433. Lance, with over 30 years of experience, explains when and why the IRS requests a full financial picture from taxpayers, especially when negotiating to pay less than the full amount owed. He breaks down the different types of Form 433, such as 433-A for individuals and 433-B for businesses, and highlights the importance of accurate documentation to support financial claims.

Lance shares real-life examples, illustrating how strategic financial planning can lead to favorable outcomes with the IRS. Listeners will gain insights into common mistakes to avoid and tips for maintaining accurate financial records, ensuring they are well-prepared to handle IRS inquiries effectively.

Key Timestamps:

00:01 – Introduction

0:17 – Importance of IRS Form 433

1:04 – When IRS Requests Financial Disclosure

1:48 – Types of IRS Form 433

2:39 – Documentation and National Standards

4:03 – Real-Life Example: Strategic Financial Planning

6:06 – Assets That Raise IRS Questions

7:35 – How IRS Uses Financial Information

8:21 – Common Mistakes in Financial Disclosure

9:20 – Importance of Accurate Expense Reporting

10:40 – Keeping Track of Finances Year-Round

11:54 – Separate Accounts for Business and Personal Finances

12:41 – Frequency of Tax Estimates for Entrepreneurs

About the Show:

Resilience and Resolve is a podcast dedicated to helping individuals and small business owners navigate complex IRS tax issues with confidence and clarity. Hosted by experienced Lance Drury, the show offers practical advice, real-world examples, and expert insights into tax resolution strategies.

Whether you're dealing with tax debt, audits, or financial disclosures, Resilience and Resolve provides the tools and knowledge needed to effectively address and resolve tax challenges. The series is designed to empower listeners with the understanding and resources necessary to achieve favorable outcomes with the IRS.