USA 10 Finance Monthly Taxation Awards 2024. best suited. From the compliance check, we take a turn to direct them to our sister company (both owned by Dionne) to close any gaps in their filing history. Before the IRS will negotiate a client must be in a compliant status with the IRS. Having no missing back filed returns or estimated payments, we achieve compliance. Once the client is compliant and we know the debt we are looking at we take a third turn to perform an in-depth financial analysis to determine if the debt can be settled, paid or maybe the client is just not collectible at all and we pursue the appropriate road from there. Upon the 4th turn and rounding out the collection phase of the resolution we bring the client across the home plate with the resolution that suits their financial capabilities. You have an impressive record of maintaining a 100% acceptance rate in resolving cases with the IRS. How do you achieve this? 100% comes with caveats. We have had clients give up in the process and we have had them withdraw because they are not happy with our proposed outcome. Clients hear these misleading national advertisements and automatically think that everyone qualifies to settle their debt, which is simply a false belief system created by the media. Every client that we have pursued a resolution and taken the case through collections, sometimes appeals, and even assisted with handling the case through the tax court has received an outcome as initially proposed or better. We have never had a case returned as frivolous or an intentional delay of collection. In other words, the IRS has always seen fit to work with us and find the perfect resolution to the case at hand. When we interview clients we are very thorough and we make sure that the cases we take on are qualified for the programs the IRS is offering. If we take out the clients who quit during the process or decided the IRS was taking too long, then yes, we have absolutely and unequivocally never lost a case. We provide quality work within the criteria and standards of the IRS, and when this happens, the IRS typically (not always) does not have discretionary approval capabilities. The numbers speak for themselves when done properly. Can you walk us through a particularly challenging case and how you successfully resolved it? I have had the fortune of helping many clients and we have resolved more than $500M in cases. I have completed settlements and audit cases that were equally challenging. The IRS is trained to be misleading and lead clients down a road that will trap them into answering questions and putting them in positions that are hard to get out of. I had a case one time where the client was making payroll and never turning over the tax money to the IRS each pay period. They stated that their accountant advised them they could use this money “temporarily” to grow their company, and once they were big enough, then they could pay the IRS. Well, the IRS considers this money “trust fund” money. In other words, the IRS is trusting the employer to collect and turn over this money every pay period. This is one of the only ways the IRS can break through a corporate veil. It is also a fast track to possible criminal investigation and even jail time in certain circumstances. This client hired me after the IRS had come out to interview them. In the interview, the IRS somehow managed to get the client to state his father was the “general manager”. Mind you, the father literally came in to hang out and feed the dogs. He was elderly and just didn’t want to sit at home all day. This trust fund not only comes with assessments for taxes withheld and not turned over, it is also sometimes called the 100% penalty. It is the only penalty, once assessed, that can break through the corporate veil and be assessed to the owners and ANY OTHER person involved. Beware of this penalty, because if you are a payroll processor or a signer on the account or any person of authority in the company (I.E. the General Manager as mentioned above!!), you could very well be held liable. This is what happened to my client. My client’s company was assessed with the $6M debt as well as the sole owner and his “general manager” dad. In the end we were able to settle the corporate debt for just around $246K. The owner was able to settle for $462K, and the father was relieved of all liability. This means that we settled a $6M debt for 11.8%. Prior to being referred to my firm for help, this client was told by many that he should just close his doors. We were able to keep him in his business and teach him the proper way to handle payroll, and today, he is out from under this debt and able to thrive. I pursued a new set of education credentials to become a Certified Tax Resolution Specialist and an Enrolled Agent and take my practice to a whole new level.
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