Resilience and Resolve with Lance Drury

The Legal Podcast Network (LPN)
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Resilience and Resolve with Lance Drury: Understanding the Basics of Tax Resolution

  1. Sep 18

    What Happens When an Offer in Compromise Is Rejected

    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.

    What Happens When an Offer in Compromise Is Rejected

  2. Sep 11

    When the IRS Re-Evaluates Your Payment Plan

    Episode Summary: In this episode of Resilience and Resolve, host Evan Mack sits down with Attorney Lance Drury to discuss the intricacies of IRS payment plans and the potential for adjustments. Lance explains how the IRS can review and modify payment agreements, especially in cases of partial pay installment agreements, which are subject to review every two years. He highlights the importance of maintaining compliance with the IRS and how changes in a taxpayer's financial situation can prompt a reevaluation of their payment plan. Lance shares insights on the types of financial information the IRS may request and the steps taxpayers should take if their financial circumstances change. This episode is essential for anyone dealing with IRS tax debts, offering valuable strategies to manage payment plans effectively and avoid unexpected financial burdens. Key Timestamps: 00:01 – Introduction 00:14 – Overview of IRS Payment Plans 00:39 – Circumstances Triggering IRS Review 01:05 – Importance of Compliance 02:07 – Streamline Installment Agreements 03:06 – IRS Collection Statute of Limitations 04:19 – Importance of Filing Tax Returns 05:00 – Financial Changes Prompting IRS Review 06:01 – Required Financial Documentation 07:46 – Structuring Assets for Better Deals 09:08 – Revisiting Agreements for Better Outcomes 10:12 – IRS Approach to Improved Financial Situations 11:07 – Consequences of Ignoring Payment Plan Changes 12:08 – Proactive Steps for Taxpayers About the Show: Resilience and Resolve is a podcast dedicated to helping individuals and small business owners navigate complex IRS tax issues with confidence. Hosted by seasoned attorney Lance Drury, the show offers practical advice and insights into tax resolution strategies, compliance, and financial planning. Each episode delves into real-world scenarios and provides listeners with actionable steps to manage their tax obligations effectively. With a focus on clarity and empowerment, Resilience and Resolve aims to equip listeners with the knowledge they need to tackle their tax challenges and achieve financial stability.

    When the IRS Re-Evaluates Your Payment Plan

  3. Sep 4

    IRS Appeals: Resolving Tax Disputes Without Going to Court

    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.

    IRS Appeals: Resolving Tax Disputes Without Going to Court

  4. Aug 28

    Collection Due Process Hearings: Your Right to Challenge IRS Collection

    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.

    Collection Due Process Hearings: Your Right to Challenge IRS Collection

  5. Aug 21

    When the IRS Targets Business Assets Instead of Personal Ones

    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.

    When the IRS Targets Business Assets Instead of Personal Ones

  6. Aug 14

    What Happens When the IRS Seizes Physical Property

    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.

    What Happens When the IRS Seizes Physical Property

  7. Aug 11

    When the IRS Files a Federal Tax Lien And What Triggers It

    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.

    When the IRS Files a Federal Tax Lien And What Triggers It

  8. Aug 7

    What Happens When the IRS Believes Assets Are Being Hidden

    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.

    What Happens When the IRS Believes Assets Are Being Hidden
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Resilience and Resolve with Lance Drury: Understanding the Basics of Tax Resolution

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