July 23, 2009
Yesterday, I met with the head of a local accounting firm. He’s been a strong supporter of TaxLifeboat for over a year and in this conversation he was even more adamant about the need for our services. The IRS is under pressure to raise more taxes and close the tax gap so they’re adding 26,000 new positions over the next 12 months. As a response, the tax mills are stepping up their predatory practices.
For example, he told the story of a client who the IRS said owed $60,000. The accountant advised him that this could be negotiated down substantially by providing the proper documentation. The taxpayer, however, heard the radio announcement of a prominent “tax mill” and borrowed $35,000 to pay this firm their retainer. Now he’s paying interest on the $35,000, accruing interest on his tax debt, the tax attorney has yet to fix the problem, and the whole matter could have been responsibly handled for much less than $35,000.
As the accountant concluded, that’s exactly why TaxLifeboat is needed so badly.
November 8, 2007
Hi, I’m Tom Evans, President of TaxLifeboat.com. TaxLifeboat is an expert knowledge website created to help taxpayers who are having trouble with the IRS. We do this, in part, by partnering with tax professionals. In simple terms, our website provides the tools to diagnose a tax problem, identify the most promising solutions and supply the user with all the resources to implement those solutions. We’ve automated one of the most time-consuming, least-rewarding tasks that tax professionals face so they can either 1) recommend clients with this problem to us with confidence or 2) take on such cases themselves knowing we’ve done the research and assembled the materials for them.
That’s the service side of what we do. There’s also a human side. My business background and training includes systems analysis, decision theory, strategic planning, financial analysis, computer modeling, well you get the idea. Note there’s an important word missing: Tax. Yes, I’m president and I’m not a tax professional. So how did I get here? The answer is that some years ago I invested my time and money into a startup company. Things didn’t go as we had expected which put me behind in my taxes and in trouble with the IRS.
I consulted with a tax professional, Terry Guy (now my current partner), on how to resolve the problem. He explained about the Offer in Compromise program and soon I created a software analysis of how to qualify for it. Terry mentioned that others could use this and about a year later I published a book and software program on OIC (see Amazon.com for Happy About Tax Relief, The Offer in Compromise Solution).
In doing the research for the book I read many books and talked to numerous professionals about resolving tax problems. I came to realize that there were many potential solutions, not just OIC. I also concluded that taxpayers caught in this problem had very few good alternatives to seek help. The “tax mills” were more interested in their fees than really helping the client. Tax professionals (mostly) didn’t want the cases because they didn’t do enough of them to become proficient and, therefore, save time and lower the cost to their clients. Likewise the IRS was of little help and one would have to read a lot of books just to find the one solution that would fit their situation.
So that’s why we started Tax Lifeboat and how we got here. I’m proud to say that all the assistance we provide on the website to fully resolve a person’s tax problem costs less than one hour’s time with a tax attorney. Yes, the full price is $199 and there are discounts for tax professionals who use our tools to help their clients. Check it out at www.TaxLifeboat.com.