Resilience and Resolve with Lance Drury

Can the IRS Come After You Personally for Business Tax Debt?

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.

IRS Compliance Explained: Why Filing and Reporting Matter More Than Payment

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.

IRS Payment Plan Default: What Happens If You Miss Payments

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.

Unfiled Tax Returns: What Happens If You Don’t File With the IRS

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.

How Long Can the IRS Collect Back Taxes? (IRS Collection Time Limits Explained)

Episode Summary:Attorney Lance Drury delves into the intricate details of IRS collection timelines, emphasizing the crucial importance of timing in resolving tax debts. From the nuances of the 10-year collection rule to strategic considerations for payment plans and offers, this episode offers invaluable insights for navigating IRS challenges effectively.
Key Timestamps:00:00 – Introduction01:30 – IRS Collection Timeframe Overview04:15 – Factors Pausing the Collection Clock07:20 – Strategies Around Payment Plans and Offers10:05 – Real-Life Case Impact of Collection Timelines
About the Show:*Resilience and Resolve* is a podcast series dedicated to empowering individuals and small business owners in managing IRS-related challenges. Attorney Lance Drury provides expert guidance and practical solutions for those navigating tax debt issues with the IRS.

Dealing with IRS Payment Plan Defaults

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.

Handling Difficult Clients in Tax Resolutions

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.

IRS Bank Account Freezes: What Really Happens When the IRS Hits Your Bank

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.

Wage Garnishment Explained: How the IRS Gets Into Your Paycheck and How to Stop It

Episode Summary:
Attorney Lance Drury delves into the intricate world of wage garnishment by the IRS, shedding light on how it impacts individuals and the steps they can take to halt it. From the implications of wage garnishment to the crucial importance of timely action, this episode offers essential insights for anyone facing this financial challenge.
Key Timestamps:
00:00 – Introduction
01:30 – Definition of wage garnishment
03:15 – Triggers for IRS wage garnishment
05:45 – Severity of wage garnishment
07:20 – Consequences of ignoring IRS notifications
09:05 – Real-life impact of wage garnishment
11:40 – Options to reduce the wage garnishment amount
13:55 – Importance of hiring a tax professional
15:30 – Effect of communication with the IRS
17:10 – Benefits of an installment agreement
18:45 – Preventive measures to avoid wage garnishment
About the Show:
*Resilience and Resolve* is a podcast series dedicated to providing invaluable insights and strategies for navigating legal and financial challenges. Join Attorney Lance Drury as he shares expert advice and solutions to empower individuals facing tax-related issues and more.

Time Mastery For Attorneys: Staying Productive Without Burning Out

Episode Summary:
In this episode, Lance Drury shares insights on how attorneys can effectively manage their time without burning out. Drawing from his experience as a public defender and now a successful attorney managing multiple offices, Lance emphasizes the importance of prioritizing tasks, focusing on revenue-generating activities, and leveraging technology like artificial intelligence to streamline processes.
Key Timestamps:
- 00:00 – Introduction
- 03:45 – Challenges faced in early career stages
- 07:20 – Differentiating between busyness and productivity
- 09:55 – Importance of prioritizing revenue officer cases
- 14:30 – Dealing with interruptions while maintaining workflow
- 18:10 – The significance of taking breaks and rest for improved productivity
- 22:40 – Starting points for overwhelmed attorneys to regain control of their schedules
About the Show: *Resilience and Resolve* is a podcast that delves into the challenges attorneys face in managing their time effectively, offering practical tips and strategies to enhance productivity and prevent burnout. The show provides valuable insights for legal professionals looking to optimize their workflow and achieve sustainable success in their careers.