Yes, you read that correctly.
When this Taxpayer reached out to our office, he and his wife owed the IRS an astounding $215,201.00 in back taxes.
The amount of stress was so substantial that it was impacting their marriage and their ability to earn income under it’s crushing weight. Our first focus for this self-employed client was getting them “tax compliant” and setting them on a path to pay future taxes timely and appropriately as they earned income. Once we ensured that the client paying was the accurate estimated tax payments, we were able to pursue an Offer in Compromise with the IRS. In this case, our firm was able to prove to the IRS that it was in the best interest of the taxpayer and the IRS to reach a settlement agreement and we worked to negotiate a $500.00 payment to resolve their IRS tax debt. Now that the stress and sleepless nights are behind them, our clients have “gotten back to work” and their income has increase substantially.
If you are self-employed and are suffering from sleepless nights due to back tax liabilities, call our office to see whether you qualify for a settlement with the IRS too!