A client we were able to help was diagnosed with terminal cancer years ago and so he stopped filing his taxes. After being out of work for a few years, his cancer went into remission and he was able to start working again. It was then that the IRS put a levy on his paycheck. When our client came to us, he hadn’t filed his tax returns in almost 10 years. The Polston Tax team was able to file all his missing tax returns along with getting the levy on his wages released so he could have income again. After going through our client’s financials, we realized he didn’t have the money to make monthly payments to the IRS. We worked vigorously with the IRS to prove our client’s hardship and get him approved for Currently Not Collectible status. Now our client doesn’t have to worry about making monthly payments and has saved over $120,000.
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Most of our clients are assigned Revenue Officers because they have a large tax liability and haven’t made attempts to settle their balance. One of our clients owed almost half a million dollars to the IRS and was desperate to get her tax liability resolved. She owed for several tax years and owed the state thousands of dollars as well. After getting our clients tax returns filed and getting her into compliance with the IRS, we started working towards a resolution. We decided an Offer in Compromise (O.I.C) would be the most ideal outcome for her situation. Our firm submitted the OIC and waited nearly a year before the IRS finally responded and assigned an Offer specialist! We aggressively negotiated the OIC payment arrangement with the Offer Specialist hoping to get something our client could afford. The IRS finally accepted the OIC months later and we were able to settle our client’s tax liability once and for all saving her almost $450,000 in the end!
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