Every month, our tax attorneys and case managers work with our clients to get their tax issues resolved once and for all. Sometimes this can mean setting up a payment plan, while other times it can mean getting an Offer in Compromise approved. Here are two cases our team was able to resolve for our clients this month!
Case #1: Getting behind on just one year of taxes can add up quickly and you could be in over your head on tax debt before you know it. Our client was a truck driver and ended up owing for a few years when he came to us. While we were working on his case, our client’s income decreased drastically and he was now only receiving a small pension and Social Security as his monthly income. We knew now was the time to help our client. We started by getting all his tax documents together and filing all the missing tax returns. You can’t negotiate a resolution with the IRS if you have missing tax returns. While we were filing the returns, our client got hit with a threat of a levy. Our team appealed that levy notice to help protect our clients from having their money seized by the IRS. Our client and his wife had filed separately in the years and so they both had separate tax liabilities. Because of this, we had to file separate resolutions for the couple. For the wife, we were able to get her set up in a monthly installment agreement that allowed her to pay her small tax liability off by making small monthly payments. The husband had a large liability and was more difficult to resolve. We decided to try for an Offer in Compromise for him as he barely had any income coming in and didn’t have any equity. We filed the appropriate paperwork and waited. Almost a year later, we heard back from the IRS. They needed more proof of our client’s expenses that showed he barely had any money left over at the end of the month. We provided bills and statements to the IRS to help our client. The IRS agreed with our findings and approved his offer. Our client was able to resolve his tax liability for $25, which saved him over $149,000!
Case #2: Sometimes our clients come to us after they have tried to resolve their tax issues on their own but were unable to get an agreement that they could afford. Our next client came to us after they tried to set up an installment agreement with the IRS but the IRS wanted them to pay a monthly payment that was much higher than they could afford. We started getting our client’s financials together when he lost his job. We knew now was the best time to resolve his tax issues and so we went to the IRS with our plan for our client to go into a Partial Payment Installment Agreement. We provided all the paperwork and proof of expenses for our client and the IRS agreed that our client was experiencing financial hardship and approved the installment agreement for $25/mo. Fast forward a few years and our client comes back to us saying his installment agreement is being reviewed by the IRS as he is claiming more equity than he previously did. We took a look at his financials and his home’s equity is what had caused the review. The IRS wanted our client to take a loan out against his home. We were able to provide loan denial letters from the bank showing the client wasn’t able to take the loan out. This was enough proof for the IRS and they re-established his installment agreement for $25/mo which saved him over $45,000!
If you need help settling your tax debt 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 844-841-9857 or click below to schedule a free consultation!
Additional Readings
William is an Oklahoma native, raised in Skiatook but living most of his life in Tulsa. He graduated from Bishop Kelly High School and is currently attending The University of Oklahoma to get his degree in accounting with a minor in finance. William is also part of the Native Organization at his school. He felt...
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