2018 has drawn to a close and as we strive to help more clients get out of tax trouble and save more money in 2019, we would like to take a look back at all the clients we were able to help in 2018! In 2018, our firm was able to help 950 people solve their tax problems and saved them over 18 million dollars. We helped small business owners, truck drivers, contractors, retirees, and people from all walks of life. People who got into tax trouble by mistake, due to an error by an employee or accountant, or because they got sick or injured. Here’s some of our favorite cases we were able to close in 2018!
Our next client is a retired IRS employee that also made a lot of money through the oil and gas industry. Our client had fallen ill over the years and fell behind on her taxes, even though she was filing all her returns on time. After the IRS levied four of her bank accounts and her federal retirement, our client decided it was time to get help and came to Polston Tax. The Polston Tax team worked hard to get all the levies released and had to go to Tax Court after the IRS tried to levy our client for money they didn’t owe. After appealing the assessment and getting a new tax return accepted, we not only helped our clients save over $194,000, we also go them a substantial refund from the IRS!
Our next client was an automotive technician for years while his wife ran her own business. He had filed and paid all his taxes on time except for one year when he fell behind and wasn’t able to pay. He had withdrawn from his retirement account and was told at the time that the taxes he owed were being paid, when in reality they weren’t. He ended up with a $60,000 liability that after a few years of penalties and interest accumulated to nearly $100,000. Our client came to our office after he tried paying off the balance himself but felt like he wasn’t getting anywhere. On top of that, the IRS placed a levy on his Social Security Checks. Not only were we able to get the levy on his Social Security released, the Polston Team was also able to prove financial hardship for our client and was able to get him placed as Currently Not Collectible Status. In the end, our client saved over $100,000 and doesn’t have to carry the burden of their tax liability any longer!
One of the client we helped was a business owner that had not filed since 1999 and owed almost $3 million dollars to the IRS in back taxes. The client had been to another tax company that helped get her compliant with the IRS, but then got her an installment agreement that she couldn’t afford. With her business barely making a profit, she was stretched too thin. Her husband had passed away which led to the tax troubles and the revenue officer assigned to their case was viciously trying to take every dollar he could. After being levied several times, our client came to us desperate to get her tax problem resolved. After looking through her financials and determining the best resolution, we were able to place her in Currently Not Collectible status. Now the client won’t have to worry about more levies, AND she saved over $2.9 million dollars!
Starting a business can be hard, especially if you don’t have the right accountant. Our next client started his own plumbing business and when the business took off, he hired an accountant. This accountant charged a large fee and said the fees included audit protection. Unfortunately, he was audited, and the client was left with no help from his accountant and a large tax liability. Business slowed down for our client and he fell further behind on bills and tax payments, causing the IRS to place liens on his home and property. His wife worked for the Postal Service and was having her wages levied as well. Our client tried to get more contracts to bring in more income, but the state wouldn’t renew his license due to the tax liability. They then came to us desperate for help. Not only did we stop the wage garnishment and put a collection hold in place to prevent more levies, we were able to negotiate a PPIA for $25/month! This made our client compliant with the IRS and saved them almost $200,000.
Our next client came to us because he was being audited and wanted to prevent any levy action against him. The IRS claimed our client didn’t report income from stock options and said he owed almost $200,000 with penalties and interest attached! When our client first came to Polston Tax, the first thing we did was get a collection hold with the IRS to make sure his bank account wasn’t levied, and his wages weren’t garnished. After going through his tax return and all his documentation, we realized the client had correctly claimed the income and paid the ALL taxes he needed to! We filed a Tax Court petition to object the proposed assessment made by the IRS. After months of negotiating with the Appeals Officer, the IRS finally agreed their assessment was incorrect and our client had done his taxes correctly. Not only did we help our client out of a stressful audit, we saved him over $186,000!
Another client we helped was a business owner who owned a trucking company and didn’t file tax returns for a few years. He fell behind on his tax payments after his wife passed away because he took some time off work. He decided to come to Polston Tax because his bank account was levied, and he wasn’t sure what to do. Polston Tax scheduled a Collection Due Process (CDP) hearing so we could talk to the IRS about our client’s tax liability. After the CDP hearing, we filed an Offer in Compromise to try and settle the tax balances. The IRS ended up rejecting the offer because our client did not pay taxes on a settlement he received due to an auto accident. Our client was then notified he was being audited. Our team worked with the IRS Counsel to help prove he wasn’t responsible for the income tax that was attached to his old business. Finally, after months of back and forth, the IRS Counsel conceded letting us know there was no deficiency in income tax due. This saved our client over $440,000 in the end!
Our next client is a manufacturing business owner that always filed his tax returns for previous years but fell behind on his payroll tax payments and ended up owing over $1 million to the IRS. Facing levies and liens, he decided to come to Polston Tax and get help resolving this issue. Once we completed his financial analysis, we appealed the Final Notice he received to prevent levies, so he could keep his business running. Once the levies stopped, we decided to tackle his personal and business tax liability at the same time by filing an Offer in Compromise for both. After the IRS finally assigned an Offer Specialist, we negotiated an affordable payment for both liabilities and got both Offers accepted! In the end, we saved our client $1,030,827 and allowed him to keep his business running!
Most of our clients are assigned Revenue Officers because they have a large tax liability and haven’t made attempts to settle their tax balances. One of our clients owed almost half a million dollars to the IRS and was desperate to get her tax liability resolved. She owed for several tax years and owed the state thousands of dollars as well. After getting our clients tax returns filed and getting her into compliance with the IRS, we started working towards a resolution. We decided an Offer in Compromise (O.I.C) would be the most ideal outcome for her situation. Our firm submitted the OIC and waited nearly a year before the IRS finally responded and assigned an Offer specialist! We aggressively negotiated the OIC payment arrangement with the Offer Specialist hoping to get something our client could afford. The IRS finally accepted the OIC months later and we were able to settle our client’s tax liability once and for all saving her almost $450,000 in the end!
If you don’t file a tax return, chances are that the IRS will file one for you and you usually will owe a large tax balance because of it. Our client hadn’t filed in 6 years and so the IRS filed Substitute for Returns (SFR) for all the missing years. When the IRS files SFRs, they do not take any tax deductions, tax credits or deduct any type of expenses. While we were putting our client’s financials together, he was levied even though we had filed all the paperwork and paid the payments the Revenue Officer had asked for. Once talking to the IRS, we discovered that they had made a mistake and were able to get our client’s money refunded. After settling the levy issue, we were able to file all of the missing returns and we included the correct deductions and credits. This dropped our clients tax liability by over $207,0000 and allowed them to pay off the remainder of their tax balance all at once, settling their tax problems once and for all.
Some of our clients wait to come to get help until something bad happens like they get levied or have their paychecks garnished. Our next client had her bank account levied and was unable to pay any of her bills. Our client’s real estate license was also due to expire and so we had to move quickly if we wanted to save her license. After putting together her financials, we reached out to the IRS and were able to get her bank levy released! This helped our client be able to pay her bills and not have to worry about money. Once we got the bank levy released, we then started working on securing a resolution for our client. Our client had several missing returns, so our tax team worked quickly to complete and file all missing returns. Because our client had a large amount of medical bills and not a lot of income, we decided to file an OIC. Our office filed the OIC and then had to wait 12 months before the IRS finally reviewed the offer. After providing substantiation for our client, we were able to get the offer accepted and saved our client over $200,000!
Not filing your tax return can cause large tax liabilities for you and make it hard for you to get into a good resolution. This client hadn’t filed in over 5 years, even though he was working full-time for the United States Postal Service. When our client came to us, he had almost $100,000 in tax and was on the brink of being levied. Luckily, we were able to hold a Collection Due Process (CDP) hearing and got the levy released, saving our clients’ money from being seized. After the CDP hearing, we started to work on getting our client an affordable resolution. Our client was trying to sell his house to help pay off some of his bills and living expenses. Unfortunately, he had a lien on the house, so any money made from the sale would go to the IRS. Not only were we able to provide sufficient evidence to get the lien removed, but we also were able to secure a $25 Offer in Compromise for our client. This saved our client over $99,000 and ended his tax problem once and for all!
Our next client was a contractor who had worked off-shore on oils rigs for several years and had created an LLC to help him stay in compliance with the IRS. Our client came to us in the middle of a divorce with a tax liability of over $700,000. Our client had tried to go to another local firm to have his tax liability settled but said after two years nothing had been done and his bank account was levied due to no resolution being made with the IRS. Our client came to us hoping to finally resolve his tax troubles. After getting his financials together, we decided that the best course of action would be to try and get him into a payment plan he could afford. Due to his large tax liability, the IRS placed a lien on his home in the event he tried to sell it. After aggressively negotiating with the Revenue Officer, we were able to get our client into a Partial Payment Installment Agreement for $25/month, which saved him over $710,000!
If you need help settling your tax liability with the IRS or State, call Polston Tax Today! Our team of Tax Attorneys, CPAs, Case Managers and Tax Accountants will help you get the best resolution possible and solve your tax problems once and for all! Call 405-801-2146 or click below to schedule a free consultation!