History
Former IRS Revenue Officer John J. O’Neill founded IRS Help, Inc. (“IRS Help”) to help companies identify tax solutions and resolve tax problems. IRS Help’s team provides advice on protecting assets from seizure and develops strategies for overcoming short-term pressures. Its professionals then design and oversee the implementation of comprehensive tax plans that allows organizations to move beyond past difficulties, take advantage of available opportunities and compete effectively in the marketplace.
Since its inception, IRS Help has sought to diversify its business focus by investing in distressed assets purchased from bankruptcy estates. The Firm’s tax workout consultants recognize that companies who file for bankruptcy may not be unprofitable - just poorly managed. This is when Bankruptcy Exchange was formed. The Bankruptcy Exchange team is able to identify and purchase these distressed companies at or below market costs, recreate a positive cash flow and generate a substantial return for investors. In other cases, they have found that individual asset purchases can be lucrative. A bankrupt business could have assets such as machinery, equipment, automobiles or real estate, all of which can be acquired at liquidation prices.
Bankruptcy Professionals
President
John O’Neill
John “Jack”O'Neill is the founder of Bankruptcy Exchange. He began his own tax consulting practice in 1984, Jack spent 11 years with the IRS as a Revenue Officer, Group Manager of Processing and Insolvency, and Senior Technical Adviser. Jack was a member of the IRS Task Force that rewrote the Internal Revenue Manual on Bankruptcy and Insolvency.
Jack serves on the board of numerous businesses in western New York and is an active investor in local businesses. He is a member of the National Association of Enrolled Agents and the New York State Society of Enrolled Agents. Jack obtained his degree from Canisius College and is an Enrolled Agent licensed to represent taxpayers before the Internal Revenue Service.
associate
Jennifer O’Neill
Jennifer obtained her MBA from Canisius College and her BA in Business from Boston University. Jennifer is responsible for finding value in the assets of bankrupt companies and individuals. Jennifer serves as a subject matter expert advising taxpayers in controversies before federal and state tax authorities and has worked with several companies developing business plans and designing financial strategies.
ASSOCIATE
Patrick O’Neill
Patrick spent seven years as a technical specialist in the IRS Collections Division before leaving to join his father in private practice. Patrick has over 17 years of experience in the tax resolution field and is a licensed enrolled agent representing taxpayers in disputes before the IRS and state tax authorities.
ASSOCIATE
Keith Carlson
Manager working with businesses and individuals with their tax and financial problems both in and outside of bankruptcy. Keith also oversees the day-to-day activities as a manager of two companies acquired through chapter 11 bankruptcies. He assisted with writing their bankruptcy restructuring plans and seeing them through.