Every month our tax attorneys and case managers work hard to resolve tax issues for our clients. Sometimes it means getting a bank levy released or stopping a wage garnishment. Sometimes it means getting our client into a payment plan or getting an offer in compromise approved. Every case is different and has different circumstances. This month we were able to help several people resolve their tax issues once in for all. Here are just a few of the clients we were able to help!
Case #1: Sometimes the IRS will want to come meet you at your home or business to asses your assets and see if you are hiding any income. Our client had been audited and we were working with them to settle the tax debt that came from the audit. The revenue officer overseeing their case asked for an in-person meeting at our client’s home. We came to the meeting to protect and represent our client from the revenue officer. After the meeting, we disclosed our client’s financials to the officer and decided to file an offer in compromise. We filed the offer and waited almost a year before the Offer Specialist got back to us. After providing substantiation for our client’s expenses, the Specialist came back with a very high offer amount. Our team aggressively negotiated with the Specialist and was able to bring the offer amount down by over $10,000! This ended up saving our client over $389,000 and solved their tax problem once and for all!
Case #2: When the IRS audits you, they are typically looking for extra income, either through tax deductions, you didn’t claim or through income you didn’t report. Our client was audited and came to us when they owed additional balances and couldn’t afford to pay them. Our client was going back to school to get her nursing degree, had limited income and she didn’t have a lot of equity in her assets, so we knew that she would qualify for an affordable resolution. We then decided a low monthly payment might work better. We provided a breakdown of our client’s financials to the IRS and they agreed and placed our client into a $25/mo Partial Pay Installment Agreement. This saved our client over $63,000!
Case #3: Some tax law firms will promise to save you pennies on the dollar. Unfortunately, they often can’t. The type of resolution you qualify for and the amount of money you save depends mostly on your financial situation. Our next client found this out after they hired a national chain and the chain didn’t help them actually solve their IRS issue. When they came to us, they had a large tax debt due to not paying sales tax on the business they owned. Their business had slowed down greatly and they couldn’t afford to keep up with all the tax payments and closed the business down. We took the information we had from the business’s financials to the IRS and proved that the business wasn’t profitable and our clients couldn’t pay the taxes they owed. The IRS placed our client’s business account into Currently Not Collectible status and our clients saved over $200,000!
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 405-801-2146 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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