Sometimes, despite their best intentions, companies and individuals can find themselves owing large amounts of tax. This can be a stressful time. The IRS won't simply ignore you, and the more time you waste before resolving the issue the worse it's likely to get. However, things aren't always as bad as they seem. Correct filing of returns, payment schedules, offers in compromise, etc. can all help to alleviate the suffering. Here are just a few examples of the 11,000 clients that 20/20 Tax Resolution has been able to help.
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Client owed the IRS $1.5 million in personal Trust Fund taxes from a closed business. 20/20 Tax Resolution prevented all enforced collection action and got an Offer in Compromise accepted for $58,000.
This resolution saved this client approximately $1,442,000.
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Client came to us in 2008 with a federal liability of approximately $8 million. 20/20 Tax Resolution successfully negotiated an impressive Partial Payment Arrangement in the amount of $1,800 per month which will be paid until the collection statutes expire.
This resolution will save the client approximately $7.78 million.
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Client was self-employed came to us in January of 2010 with a personal income tax liability. He owed the IRS approximately $320,000. 20/20 Tax Resolution prevented enforced collections and successfully negotiated a Partial Payment Installment Agreement for $1500 per month.
This resolution will save this client approximately $140,000 over the life of the collection statute.
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Client came to 20/20 Tax Resolution in efforts to abate penalties associated with a satisfied tax liability in which the principal taxes were paid.
20/20 Tax Resolution drafted the required brief and submitted a Request for Penalty Abatement to the Internal Revenue Service and was able to withhold the IRS from aggressive collection action by submitting an Appeal via a Collection Due Process Hearing Request.
The abatement was ultimately achieved through successful negotiations reflected in the attached Account Transcripts.
20/20 Tax Resolution saved this client approximately $30,000.
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The client, a dentist, owed the IRS approximately $255,000. 20/20 Tax Resolution assisted the client with the time needed to file the missing returns and successfully negotiated an Installment Agreement for $50 a month for the initial year and $232 a month thereafter.
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The client, a hairdresser was missing returns, owed the IRS $57,000 and was not current with her tax deposits.
20/20 Tax Resolution assisted the client with the time needed to file the missing returns and successfully established a Periodic-Payment Offer in Compromise in the amount of $7060.
This resolution saved this client approximately $50,000.
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Client owed the IRS approximately $85k for payroll taxes on an open business liability. 20/20 Tax Resolution prevented enforced collection action and established an impressive Installment Agreement for $50 a month.
The client also had an outstanding personal tax liability that was placed in uncollectible status.
- Client was assessed a $75,000 liability for taxes her self-employed (now ex) husband failed to pay.
Prior to hiring 20/20 Tax Resolution, the client filed an Innocent Spouse Relief request to remove the liability from their name that was ultimately denied by the IRS.
20/20 Tax Resolution adjusted the strategy to a submit a Doubt as to Liability Offer In Compromise for $500.
Through extensive negotiations the IRS accepted the Offer and has since wiped out her balance completely.
This resolution saved this client approximately $75,000.
- Client was not compliant with deposits or returns and owed the IRS approximately $108,000.
20/20 Tax Resolution prevented enforced collection action, assisted the client with the time needed to file the missing returns and successfully negotiated an Installment Agreement for $225 per month.
This resolution will save the client approximately $81,000 over the life of the collection statute.
- Client came on board with two business tax liabilities totaling approximately $500k and a personal Trust Fund liability of $100k.
20/20 Tax Resolution negotiated multiple Part Pay Installment Agreements for both businesses and the owner's personal liability.
$500 per month on $102,000 liability
$500 per month on a $400,000 liability
$290 per month on $100,000 liability |
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