Check out just a few of the FANTASTIC results achieved for our clients last month!
Case 1: Our first 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!
Case 2: Our next client had a business buying and selling cell phones until the IRS audited him. The IRS claimed he owed almost $800,000 because they were disallowing all his claimed expenses. Our client contacted the FBI to make sure his business was legal and was told it was, but still the IRS would not allow any of his expenses. The audit ended up putting our client out of business. He decided to come to us after he became worried the IRS would go after his wife’s income and finances. After appealing the IRS’ attempt to levy our client and holding a CDP conference with the IRS, we filed an Offer In Compromise hoping his minimal income and assets would allow him to pay very little for his large tax liability. Our firm was able to negotiate a $25 Offer, which saved our client over $780,000!
Case 3: For some people it might seem easier to set up your own installment agreement rather than hiring an attorney. But for one of our clients, it caused him multiple defaults and quite a few penalties. As a business owner, our client didn’t file for several years and tried to take care of the problem himself. After setting up his own installment agreement, the IRS kept raising the monthly payment which caused him to default! Desperate because his Social Security was being levied, he came to us for help. After looking through his financials, we aggressively negotiated with the IRS and used tax law to help lower our clients monthly payments. As a team, we secured a $25/month payment for our client and got the Levy on his Social Security released. In the end, we saved our client years of stress and 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...
The winter holidays are fast approaching, and employers across the country are preparing for their yearly office parties. If you’re thinking of celebrating your workplace, you might be eligible for more tax deductions than you realize. Are company holiday parties tax-deductible? The simple answer is yes, as long as they meet a specific set of...
There are many times when life throws obstacles at you, especially when you least expect it. Sometimes things happen in people’s lives that cause them to not file their tax returns on time – or even at all. This is exactly what we are here to help you with, and for our first client we...
We often get clients who come to us after attempting to deal with the IRS on their own, and things don’t turn out how they had imagined it being without having the help of a tax attorney. Case #1: In our first case, our client had gained filing compliance and fully paid off her taxes...
Have you received a Notice of Intent to Levy, and you are unsure of the next steps? If you have unresolved tax issues and keep receiving letters from the IRS, you aren’t alone. In 2019, the Internal Revenue Service issued 780,000 notices of levy to settle unpaid tax balances. If you currently face an IRS...
In 2021, cannabis-related legislature has been passing in numerous states, including conservative states like South Dakota, Mississippi and Montana. In fact, more states have legalized marijuana for either medicinal or recreational use than states that have not. With states rapidly approving marijuana legislature, cannabis sales are quickly becoming a large component of the American economy....