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: Receiving retirement money is one of the main reasons our clients get into tax trouble. Either our clients take the money out prematurely or they receive the payments but don’t pay the taxes on them. For instance, one of our clients was paid his retirement in one large lump sum payment. Despite the large payout, our client did not pay any of the taxes on their income. Due to this and claims he made on his tax return, our client was audited. The auditor assessed additional tax balances and penalties on our client and disallowed almost all of his expenses. Our client tried to fix the problem, but the attorney he hired told him he wouldn’t be able to resolve his case and his accountant stopped returning his calls and never gave him his documentation back. Our client came to us desperate to get this resolved. After going through his financials we realized our client barely had any money to live on, let alone pay the IRS. We provided documentation to the IRS of our client's inability to pay and we able to secure Currently Not Collectible status for our clients and saved them over $178,000.
Case 2: In some cases, we put clients into temporary resolutions to help them avoid bank levies or wage garnishments and help relieve some of the stress they are experiencing. One of our clients came to us with a wage levy and was desperate to get their tax problem solved. Our tax attorneys put them into a Currently Not Collectible status, as our client was struggling financially and needed the levy released. After going over the financials, we negotiated a Partial Payment Installment Agreement of $25/mo for our client. This saved our client thousands of dollars. A few years later, our client contacted us because the IRS was defaulting their payment plan. After looking over the case, we realized our client's income had increased and the IRS was wanting more money from our client. Our tax attorneys spent months trying to reinstate our client's previous payment plan. Finally, after providing substantial for our client's expenses, the IRS agreed to the $25/mo payment plan and saved our client $87,000.
Case 3: Our next client was in a serious car crash and ended up incurring a tax liability due to being in the hospital and not being able to run his business. Our client ended up owing thousands of dollars in unpaid payroll taxes and came to us when he realized he could no longer resolve his tax debt himself. Our client was being audited and was losing many of his deductions and expenses he wrote off. After holding a trust fund interview with his revenue officer, we went to work to determine our client's financial situation and how best to approach the audit. We presented our argument to the auditor and they accepted our argument and allowed the losses and expenses our client had originally claimed. This allowed the audit to be finished and it saved our client over $71,000!
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!
