1-800-548-4639Here is yet another example of a successful outcome for a client of BC Tax. This client had numerous past due balances with the IRS dating back from 2004 through 2016. The total amount this client owed was close to $98,000.
The IRS began to initiate collection actions against the client by;
1. Filing tax liens against the client
-and-
2. Sending individual notices requesting full payment of each individual tax year.
The amount of notices from the IRS soon became very confusing and overwhelming for the client, at which point they hired BC Tax for assistance. The team of tax professionals here at BC Tax began working one-on-one with the client to build a full and comprehensive strategy for the client’s specific financial situation. The solution was a Partial Payment Installment Agreement in the amount of only $500/month. The client now has a regular structured payment which allowed the removal of the tax liens that were filed and halted all other collection actions. With this solution in place, and after the limitation for collection on past tax years expires, the client will end up paying significantly less than the original amount owed!
How Much Tax Debt Do You Have?
Authored by the BC Tax Insights Team, this article reflects the collective expertise and experience of our seasoned tax professionals. The Insights Team at BC Tax comprises specialists with a deep understanding of various tax scenarios and solutions. With a focus on providing informative, accurate, and practical insights, our goal is to guide readers through the complexities of taxation and financial planning. Every piece is crafted with the intent to help individuals and businesses navigate the ever-evolving world of taxes, ensuring clarity and confidence in decision-making.
