A client in Dillon, CO hired Sequoia Tax Relief to assist in resolving their federal tax liability. The balance owed was due to a civil penalty for their accountant’s failure to file their W-3. Sequoia Tax Relief requested that the penalty for not filing be abated due to the accountant’s error. The abatement was accepted saving our client $15,993.60.
A business in Hastings, Nebraska hired Sequoia Tax Relief to assist in resolving their federal tax liability. The Associate completed a full financial review and proposed a payment plan of $50 per month for our client to satisfy the liability. The Installment Agreement was accepted, meaning that by the time the Collection Statute Expiration Dates run, our client will have paid approximately $4,800 and saved $29,561.92.
A company in Varnville, South Carolina owed $45,120 to the Internal Revenue Service and hired Sequoia Tax Relief to formalize an Installment Agreement for them. With our client’s financials, we requested an Installment Agreement of $250 per month. Our client stated she was comfortable in a monthly payment plan not to exceed $500 per month. We negotiated with the Appeals Officer and he agreed to place the account in an Installment Agreement for $250.00 for the remainder of the year beginning May 28, 2018. The Installment Agreement is scheduled to increase to $275 in 2019 and $300 in 2020. The payments over the life span of the account using the Collection Statute Expiration Dates will total approximately $33,850, saving our client $11,270 without the additional accrual of penalties and interest over the next nine years. Total savings on the account will approach $20,000.
Our client in Austintown, Ohio owed $37,796 in Civil Penalties. His Revenue Officer wanted our client to pay $1,200 per month, however, after a thorough review of our client’s financials, we negotiated his Installment Agreement payments down to $715 per month.
Our client is a Reverend in Pella, Iowa who previously owned an automotive repair shop. The business has since closed, but our client was assessed with approximately $52,000 worth of Civil Penalties. We were successful in placing the balances into a Currently Non-Collectable status in order to keep him protected while he works to get back on his feet financially.
Our client owns and operates a grocery store in Belle Grove, Maryland. We were successful in placing both the business and personal account balances into Installment Agreements with the Revenue Officer. Since our client is operating as a sole proprietorship, he owes approximately $216,000 on his 1040 Individual Income Tax return and $698,000 on the business. The personal Installment Agreement was formalized for $1,400 per month and the business for $4,200.
Our client lives in Blythewood, South Carolina and works as a recruiter for pharmaceutical companies. He owes $143,753 to the Internal Revenue Service. We were successful in placing the balances into a Currently Non-Collectable status. Due to the age of the balances, he will remain in this status until approximately $50,000 drops off due to the expiration of Collection Statute Expiration Dates.
Our client lives in Desert Hot Spring, California and is a retired adult care facility director. She owed approximately $1.2 million to the IRS and $431,000 to the Franchise Tax Board. The balances stem from a misreported asset sale and early withdrawals from a retirement plan to keep the business afloat. We were successful in obtaining an Offer in Compromise with the IRS for $5,554 and a zero dollar Offer with the Franchise Tax Board.