The Bankruptcy Law Podcast with Blake Goodman | From Debt to Fresh Start · Blake Goodman

How Tax Resolutions Lawyers Can Help You In Hawaii

·13 min·1 clip

The IRS can seize your home or car at auction if you owe back taxes—here's how to stop them.

This episode explains how tax resolution lawyers assist individuals and businesses in Hawaii facing IRS or state tax collection actions. Host Blake Goodman, a founding attorney with over 30 years of experience, outlines his firm's services for resolving tax debts. The podcast serves as an educational guide for listeners seeking alternatives to bankruptcy for tax problems. The episode details aggressive collection methods like bank levies, wage garnishments, and asset seizures by tax authorities. It defines a tax resolution as a final settlement agreement between a taxpayer and the IRS. Several specific resolution options are examined, starting with the Offer in Compromise (OIC), which allows negotiation to repay old debts for less than the full amount. The IRS evaluates an OIC applicant's ability to pay, income, expenses, and asset equity, with acceptance rates described as low. Another option is penalty abatement, which may remove penalties if a taxpayer had reasonable cause for non-compliance, such as circumstances beyond their control. Installment agreements are presented as structured payment plans, with short-term plans potentially avoiding user fees. The process for releasing tax liens involves strategies like discharge, subordination, or withdrawal of the lien. The Trust Fund Recovery Penalty (TFRP) is highlighted as a severe penalty imposed on responsible parties for unpaid employment taxes, which cannot be discharged in bankruptcy. Currently Not Collectible (CNC) status is explained as a temporary halt in collection for those unable to afford both taxes and basic living expenses. A surprising claim is that an IRS audit does not automatically mean a taxpayer has done something wrong. The episode asserts that having an attorney can increase the chances of a successful Offer in Compromise despite generally low acceptance rates. It notes the IRS has a 10-year window to collect assessed taxes. A memorable emphasis is that the TFRP is one of the largest penalties the IRS imposes and carries significant, non-dischargeable interest. The podcast stresses that taxpayers have specific rights outlined in the Taxpayer Bill of Rights, including the right to challenge the IRS and retain representation. It positions a tax attorney as a crucial advocate to enforce these rights and communicate with the IRS on the taxpayer's behalf. The tone is educational and advisory, clearly aimed at informing potential clients. The style is promotional, as it consistently directs listeners to the firm's services and consultation offers. This episode would greatly benefit Hawaii residents or business owners actively dealing with tax debt and seeking professional legal options. Listeners looking for general personal finance advice or entertainment-focused content might skip this service-oriented presentation.

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