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Tax News



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Enjoy this glimpse into a very unusual section of tax law. It’s about as close as this firm gets to partying.

On September 16th, marijuana sellers and buyers in Colorado had a really great day. Thanks to a one-time glitch in the state constitution, the usual 10 percent state cannabis tax was revoked for 24 hours.

First of all – yes, the government is out to get you! They will get their money one way or another. It’s a sad fact of life.

Under the Affordable Care Act, you have to have health insurance – or else. If you don’t sign up for insurance by the deadline, you will have to pay an extra penalty at tax time.

We’re glad you asked.

You’re not the only one who wants to know – around this time of year, a lot of clients call us and are very confused about what, exactly, the extension deadline is. Don’t they get a free pass on their taxes if they missed the April deadline? Why is the IRS contacting them? What should they do?

Patrick from Ardmore was behind on his taxes.  He owed over $50,000 to the government and had a Revenue Officer on his case harassing him. He had nowhere to turn and nowhere to hide. 

Our client owed $40,242.01 and the IRS agreed to settle for $1,043 flat! We are so happy that we were able to help this amazing client who came to us in fear because she couldn’t afford to pay back the taxes she owed. She had been in an installment agreement but she just couldn’t afford the payments any longer. She didn’t know what else to do, and the IRS was no help when she tried to tell them she couldn’t afford her monthly payment. We are so happy she made the right decision and came to Polston Tax. After our persistence and hard work on her case our offer of $1,043 was approved! We are happy to celebrate this settlement with her so that she can move forward with her life!

Another day, another wonderful closed case!

Our clients had not prepared their tax returns since 2009.  Our tax preparer Tyler Stieg quickly and accurately prepared the missing tax returns for 2009-2014, while our financial analyst Robyn Rudd simultaneously revised their financial analysis three times to ensure the very best outcome for our clients.  The difficulty of this case cannot be understated.  For example, in just one day our tax attorney Megan Davis negotiated with various IRS agents over SIX different conversations in an attempt to resolve their multitude of issues! However, the result was worth the effort!  After a multitude of negotiations, this clients’ social security levy was released, along with a release of his military retirement levy, and a release of his wage levy! The end result saved our client over $600/month in a new payment plan that they could afford. Great job to our financial analyst Robyn Rudd, our IRS enrolled agent and tax preparer Tyler Stieg, and our tax attorney Megan Davis!

Congratulations to our Vice President of Operations and Managing Attorney Rachel Pappy on being selected by the Oklahoma Bar Association for the Leadership Academy-an elite class of the State’s finest attorneys! This Academy selects only a handful of attorneys in the state to be groomed to take on leadership roles in the State of Oklahoma and to impact the State for positive change. Polston and our clients have benefited from her eye for precision and the effectiveness she has demonstrated before the IRS. Our clients can attest that her selection is well deserved!

For the next few weeks, we're running a "Slice of Life" series where we address real-life problems our clients bring us after they've filed their taxes (or not). You can read Part 1 - Slice of Life: I've Been Scammed!, Part 2 - Slice of Life: I Hate Filing Quarterly, Part 3 - Slice of Life: I'm Running ScaredPart 4 - Slice of Life: I'm Confused, Part 5 - Slice of Life: I Got Levied, and Part 6 - Slice of Life: Get Rid of My Lien, Please of the series.

SLICE OF LIFE #7: A client calls us and asks, “What are my assets? If the IRS issues me a levy, what can they take?”

The IRS accepted an Offer in Compromise for $25 on a $22,000 tax liability! Our client is a single mother raising three children while facing a tax liability that added to her worry and stress. We are so happy to celebrate this settlement with her and her beautiful family so that they may move forward with financial freedom! 

Wonderful job to our Attorney Christopher Shelton and Financial Analyst Robyn Michelle Rudd !

Our client had a wage levy of $1,275 per month from his account, he was fearful of further enforcement action from the IRS. Our firm began aggressively negotiating with the IRS to ensure our firm reached the lowest installment agreement they would accept. The client wanted an agreement below $800 and we were able to get a monthly payment of $595 approved by the IRS! We were pleased to hear of this exciting news for our wonderful client!
-Norman, OK

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