Successful CNC leading to CSED expiration

In 2015, the client began working as a contract consultant. And though he acted with due diligence, having set-up an LLC and engaged in operating as self-employed/small business, he incurred a tax balance that he was unable to pay. Once his contract was up, he was unemployed for an extended period of time and needed all available funds to cover basic living expenses. All while the tax balance accrued penalties and interest, and he was ever at risk of bank levy or garnishment from the IRS.

The client was referred to Dickmann Tax Group by another client that we had successfully resolved their IRS tax debt. We immediately put in protections to keep the taxpayer safe from wage garnishments or levy from the IRS. We reviewed his financial condition and presented a hardship argument to the IRS, resulting in a tax debt settlement against the clients balances. We secured a Currently Not Collectible status, meaning the taxpayer does not need to make any payments towards the balance, and the IRS will not take action against the account. In due time, the collection statutes will expire, and the debt will be written off in its entirety, saving the client roughly $50,000 in past due taxes. 

Obviously all tax situations are different, however if you would like to learn more or schedule time to discuss your own tax issues, please click here and we would be happy to assist you.