HOW I REDUCED A CLIENT'S TAX DEBT FROM $201,676 to $76,454 within 10 months!!!

Read this if you owe IRS back taxes or not sure how to tackle your IRS tax debt.

Do you know IRS writes off millions of $$$ in tax debt every single year?

Are you aware of IRS 10 years statute of limitation for tax debt write off?

The ten-year limitations period begins to run on the date of the tax assessment so if you are sitting on prior years un-filed taxes, you are limiting your chances.

Before you write those hefty checks to the IRS, I urge you to please find out different tax resolution options that are applicable to your case.

Here are the facts: On Jan 4th this year, my very first tax resolution client in 2018 was a construction owner.

He came into my accounting office and expressed he has several years of back taxes and accounting he hadn’t done about 6 years worth. In addition, he owed about $201,676 in IRS back taxes.

He also expressed that he already had a meeting with a Tax Attorney and the Tax Attorney proposed an Offer In Compromise.

He came to my firm just to get caught up with his back years taxes and accounting so he could go back to Tax Attorney to submit his Offer in Compromise.

I asked the client if the Tax Attorney pulled his account transcript to see the aging of his tax debt? My client couldn’t answer. I asked him how far back did he owe? He couldn’t give me any reliable response.

I asked him to sign a Power of Attorney authorizing me to speak/investigate his case.

When I pulled his IRS account transcript, I was shocked to find out $62,087 of his tax debt would expire in 45 days due to the statute of limitation and another $63,135 in October 2018 since the Collection Statute Expiration Date (CSED) was so near.

For every tax debt, there’s 10 years statute of limitation rule. Any tax debt assessed older than 10 years, by law IRS should apply write-offs.

Not all tax practitioners/attorneys know about this rule. I see so many offer in compromise cases that shouldn’t have been proposed by attorneys and tax practitioners.

If the attorney had filed an Offer in Compromise for this client, the statute of limitation would start all over again. My client had tax debt that was already over 9 years old and more than 62% of his debt would have been written off that same year.

This is another perfect example of why you cannot COMPROMISE on QUALITY PROFESSIONAL ADVICE.

Offer in Compromise means you have proposed an offer to settle your tax debt for a lower amount so the 10-year statute of limitation would start to count all over again.

I took over the case and as proposed my client received his first letter of tax debt write off for $62,087 within the stated time. And another $63k just got written off 2 weeks ago.

If you owe IRS debt, please consult a professional who truly understands Tax Resolution. I’m not saying Tax Attorney do not know what they are doing, but the majority of them do not work on IRS cases on a daily basis. Majority work on estate and trust cases.

In addition, not all tax prepares know how to handle tax debt resolution.

If you owe back taxes or not sure how to tackle your IRS or State tax debt, comment below and I can provide a free report on how to settle tax debt.

Or you can PM me to have free one-on-one consultation to analyze your case. Smash on the “like” button if you learn from this post so I can share more of my cases with you:-)