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Rod's Blog

Closed Case Round Up: February 2019

Posted by Cailey Taylor on Feb 22, 2019 9:00:00 AM

Every month, our tax attorneys and case managers work hard to help our clients settle their tax liability once and for all. Some of our clients struggle with bank levies or wage garnishments, while others owe money due to owning a small business. Here are just a few of the clients we were able to help this month.

Case #1: One of the first clients we were able to help this month owned a successful Drywall business. With any business comes tax requirements and if you’re not careful, it can be easy to slip into tax trouble. Our client had gotten behind on his tax payments and ended up owing close to $100,000 to the IRS. It was after the IRS started garnishing his paycheck that our client decided to ask for our help. The first thing we did was gather his financial information. The IRS will always ask for bank statements, bills, paychecks and other financial information before they will start talking about payment arrangements. Once we were able to get his payment information together, we were able to get the garnishment on his wages released and then placed him into Currently Not Collectible status to prevent further levies from happening. After we were able to make sure our client wasn’t facing any levies, we negotiated a Partial Payment Installment Agreement for $25/month. This not only helped our client resolve his tax issue, but it ended up saving him around $90,000.

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Case 2: Tax problems can stem from a simple or complicated situation. Our next client’s tax problem started all because of a piece of land that he bought. Our client had sold a piece of land and the IRS audited him because they claimed he had profited more than he had claimed. The IRS claimed our client owed $8 million dollars and ended up putting a lien on his house and started to garnish his wages. After speaking with our client and going over his tax documents, we realize the IRS put the decimal in the wrong spot when the IRS was putting in how much our client owed, resulting in a much larger tax debt. Our first step was to show the IRS the error that was made and get it corrected. We then filed an Offer in Compromise to help settle our client’s tax liability. At first, our Offer was declined because our client was missing tax returns. After we were able to file the missing returns, we were able to get the IRS to agree to a $25 offer, settling our clients tax debt and saving him over $108,000 in the end!

Case 3: Our next client owned a business and sold cars on the side to make extra money. His business took a turn for the worse when the economy slowed down. Due to the downturn in business, our client wasn’t paying enough of his taxes and created a large tax debt. Not only was our client losing money through his business, but he also had thousands of dollars of equipment stolen. While we were getting our clients financials together, our client was issued a notice of Intent to Levy. Our tax attorneys quickly appealed the levy so that our client wouldn’t have to worry about money being taken out of his paycheck or his bank account. After going through our client’s finances, we realized that he would not be able to afford monthly payments. We provided substantiation to the IRS and they agreed, and we were able to place our client into Currently Not Collectible status, allowing him to not make any payments and saved him over $90,000!

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!

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Tags: Taxes, IRS Tax Lien, Tax Lien, Tax Levy, Sales Tax, Tax Court, Liens, CDP, Tax Cuts and Jobs Act, Tax Law, Tax Help, tax extension, levy, audit help, Audit, Tax Deductions, Tax Return, Tax

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