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 of 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.
Team Member
Before this settlement, life looked pretty bleak. We couldn’t talk about hopes and dreams. The stress was crippling. Depression and anxiety was our “new way of life.” Your extremely positive, understanding, and simply wonderful staff got us through times we could not otherwise have gotten through. We are now hopeful again and can enjoy talking about our dreams together. You and your staff gave that back to us.
R.S