July Tax Debt Success

The client is a physician and decided it would be best for him and his family to change practices. In doing so, he took a full distribution of his investment account in order to pay for the move. This resulted in a significant tax balance for a single tax year ($100,000+). He started receiving threatening notices from the IRS and the California Franchise Tax Board in an attempt to collect the debt. The clients didn't know what to do when they received a marketing message (just like this one actually) from Dickmann Tax Group. After reviewing Dickmann Tax Group's several successes in mitigating wage garnishments, levies from the IRS, and securing tax debt settlements, they decided to book an appointment to determine what Dickmann Tax Group could do to assist with their debt. 

Upon review of the clients tax and financial situation, it was determined that they qualified for a penalty abatement and streamlined installment agreement. The streamlined agreement ensured the taxpayers full financial condition was not presented to the IRS, and prevented the involvement of a Revenue Officer, despite the overall high tax debt. Dickmann Tax Group was also able to secure an abatement of penalties, removing over $20,000 from the tax debt balance. 

Dickmann Tax Group continues to work with the client to negotiate a settlement with the California Franchise Tax Board, and looks forward to securing an additional settlement against the state tax balance.

If you would like to learn more or schedule time to talk and discuss your own tax issues, please click here and we would be happy to assist you.