Success Stories

Offer in Compromise Saves Client Over $95,000! The Offer in Compromise is an excellent tax settlement option for a delinquent taxpayer who meets the specific qualifying criteria set forth by the IRS. Such was the case for Professional Tax Resolution client, Mr. F. Not only did he have an outstanding tax liability, but the specific set of financial circumstances establishing his inability to pay the full amount of his back tax balance fell within the Offer in Compromise parameters set by the IRS. Mr. F, a Hollywood voice over actor, was experiencing some health issues that were having a negative effect on his ability to earn a livelihood. As a result of his constricted financial situation, he was unable to meet his monthly financial responsibilities … Continue reading →

 Back Tax Issues Resolved Through the Filing of Delinquent Returns –  By the time Mr. P contacted Professional Tax Resolution, he had already had multiple years of delinquent tax returns prepared by another tax settlement firm. However, because the returns were sloppily prepared, they showed him owing a sizable back tax balance. While the returns reported income and other basic information, they failed to take into account any expenses that Mr. P had accumulated over the years. As a result, they showed a tax amount due that was far in excess of the amount he would actually owe after the returns were prepared correctly. Luckily for Mr. P, the firm stopped answering their phones and never filed the tax returns they had prepared. Unable to … Continue reading →

150k in Trust Fund Penalties and Income Tax Debt Reduced to $1,000 Mr. C had multiple financial problems that came together to create a perfect financial storm. In addition to mounting medical expenses associated with a serious chronic health issue, he had numerous financial problems were the result of failing to meet his business tax responsibilities. In addition, failing to file income tax returns for the past seven years, his business had been improperly paying their payroll taxes. Hoping to crawl out of what amounted to a complete financial disaster, Mr. C contacted Professional Tax Resolution for assistance. During the initial phone consultation with one of our tax professionals, Mr. C informed us he had not filed tax returns for the previous seven years. He … Continue reading →

Successful Outcome for a Three Year Tax Settlement Case Mr. H, a self-employed, divorced father, came to Professional Tax Resolution for help with a number of different tax issues. Due to poor tax planning and ignoring his tax obligations, he had accumulated a tax debt of almost $100,000 over a period of five years. On top of this, he had recently received an IRS Notice of Intent to Audit. Worried about how his sloppy bookkeeping system would fare in an audit and unsure of how to resolve his back tax issues, he reached out to Professional Tax Resolution for help with both problems. Our firm quickly contacted the IRS and State of California Franchise Tax Board to protect Mr. H’s accounts while we gathered the … Continue reading →

Payment Plan Settles $62,000 Tax Debt – Allows $65,000 401(k) to Remain Untouched Payment Plan Settles $62,000 Tax Debt – Ms. V, a middle-aged woman who suffers from chronic health problems, represents a rather unique tax settlement case. Through years of employment, she had accumulated a back tax balance of $62,000 but, at the same time, had managed to build up approximately $65,000 in a 401(k) plan. Because her savings was greater than her outstanding tax liability, she did not meet the eligibility criteria for several of the popular IRS tax settlement options including the IRS Offer in Compromise. Having had a difficult time finding a tax settlement firm she could trust, Ms. V came to Professional Tax Resolution through a referral from a friend. Her … Continue reading →

Ms. H, a single mother, had suffered extreme misfortune in several areas. As a real estate agent, her income flat lined when the housing market crashed, making it difficult for her to meet her monthly financial obligations. To make matters worse, her son was involved in a car accident in which he suffered major head injuries. Then, while she was juggling medical bills as well as managing the care of her injured son, Ms. H received an official IRS Notice informing her of an outstanding tax liability. She had not filed tax returns for ten years and, according to IRS calculations, owed over $100,000 in back taxes. As would be expected, she was panic stricken about her dire financial situation. When Ms. H contacted Professional … Continue reading →

Tax Liability of 49k Reduced to Settlement Amount of 1K Using IRS Offer in Compromise Ms. Y, a single woman who works as a medical assistant, was already having trouble meeting her monthly expenses when unforeseen circumstances increased her financial burden. She was unexpectedly given temporary custody of her granddaughter when her daughter was unable to care for the child herself. This placed Ms. Y in the position of being a low income middle aged woman with the added financial responsibility of caring for someone else. In order to make ends meet, she reduced her tax withholdings. Although this decision helped in the short run, her underpayment of withholding taxes resulted in in the accumulation of a $49,000 tax debt. When Ms. Y contacted Professional … Continue reading →

Tax Debt Reduced – Mr. S came to us as a referral from another client who was pleased with our service. After a consultation call, he came in to meet with one of our tax experts. His situation is very common in our line of business. He is a self-employed man who works from home. However, recent hardships made it difficult for him to pay the bills. To compensate, he had not paid 3 years’ worth of income taxes and owed the IRS about $73,000. Our tax experts immediately began preparing his past unfiled tax returns. Once the tax returns had been filed, Mr. S still owed the IRS a significant amount of money. However, our team was able to determine that he was a … Continue reading →

March 2014 Just one year ago, in March 2013, Professional Tax Resolution received a call from an individual who had not filed tax returns for the previous five years.  Mr. D had continued to put off filing the returns because he knew he would owe a significant back tax balance once they were submitted. Like many other taxpayers, he works 40 hours a week, makes an average wage, rents a house, pays a monthly car note and has many other financial responsibilities, some of which had begun slip out of control. He had avoided filing his tax returns because the mere thought of adding a tax liability on top of his other financial obligations frightened him. This was the scenario that led up to Mr. … Continue reading →

In January of 2013, Professional Tax Resolution received a call from Mr. E. who owed the IRS over $200,000 that he could not afford to pay. The majority of his tax debt came from the short sale of a home in a prior tax year, which resulted in a balance due of $165,000 for that one year alone.  After meeting with the client and going over some crucial financial and situational information, our staff determined that the client would be a good candidate for an IRS Offer in Compromise.  We immediately filed a Power of Attorney and began investigating the client’s tax history. The research showed that the client had filed all necessary tax returns and was tax compliant except for tax balance due. Within … Continue reading →