He saved 100% off his tax debt! Is that possible!?

You’ve opened the mail, you’ve gotten the notices, and your heart’s tickled with anxiety every time there’s a letter from the IRS. For most people, it’s never good news, and so was the case with Ronald L. from Washington, who learned he owed $169,000 after a fateful trip to his mailbox. Surely, that number couldn’t be accurate!? He scratched his head, he hoped there was a mistake, but after contacting the IRS the number was indeed correct. Deep in financial distress, Ronald began looking for help, and thankfully came across our firm and called. That turned out to be a very good decision, as we were able to get him quite the discount off his tax debt. So, how did we do it?

One of the tenets of the tax solutions industry is to always stay compliant. That means filing your tax returns on time and keeping current with your estimated payments. Ronald L. hadn’t done this, so the first thing StopIRSDebt.com did was to file his 2004-2009 US individual income tax returns. This had quite an impact, as it reduced the initial balances owed from $169,000 all the way down to $99,000. Right off the bat our client saved $70,000. But we weren’t done. We then negotiated Currently non Collectible status on the remaining $99,000 balance, which brought the amount owed to $0. All told, Ronald L. didn’t pay anything on his tax bill.

Not everyone will qualify to completely walk away from their tax debt, but for those of you who’ve recently opened a threatening piece of mail from the IRS, there can be quite a bright light at the end of the tunnel for those who get help. Just ask Ronald L.

$3.5 Million!? Yes, she saved a lot of 0000′s. 

Owing the IRS is very stressful. Whether you owe a few thousand or much more, the letters demanding repayment start stacking up, and pretty soon what started out as a small obligation has spun out of control into something completely unmanageable.

Take Penny S. from Michigan for example. She owed a massive 3.6 million, she hadn’t filed her returns in years, and the threats from the IRS revenue agents were getting more and more aggressive, with possible criminal prosecution. Thankfully, Penny called our firm to intercede, and the results were impressive.

The IRS had assessed the taxpayer over $3.6M in tax liability. StopIRSDebt.com completed years 1999-2006 US and State of MI individual income tax returns to bring the taxpayer’s account into compliance with the IRS. At the same time, we released a wage garnishment and placed the taxpayer on an affordable installment agreement to pay off the balance. All told, the tax debt was mitigated all the way down to $60,000. That’s less than 2% of the total tax debt owed!

At the end of the day, every individual and business is required to file a tax return. If this is not done for three successive years, the IRS can file criminal charges and attach assets at will. Penny S. had ignored this mandate, and her years and years of un-filed returns finally caught up with her and snowballed into a wall of IRS debt. Thankfully, the filed returns were quite the lifeboat, and allowed us to seriously knock down the amount owed.

Penny S. was given quite the second chance, but not everyone will float out of harm’s way. If you owe the IRS back taxes, remember to accurately file your returns. They are your first step towards preventing tax debt altogether, and can help you avoid stormy run-ins with the IRS that can sink your finances.

Did he really save $383,916?

Yes, he really did. And then some. Arthur D. had ignored his tax obligations for over ten years when he contacted our firm, and had been at the receiving end of a tough revenue officer demanding repayment. The problem was that after each year his returns had gone un-filed, the IRS had filed a return for him called an SFR (Substitute for Return), and each return allowed for zero deductions, which inflated the amount Arthur owed immensely. The total amount due was in the stratosphere, $453,516, and Arthur couldn’t afford to repay it. So, what did we do to save him that much money?

StopIRSDebt.com immediately filed 10 years of federal and state tax returns for the taxpayer, which not only reduced the amount owed substantially as we itemized each deduction for each year offsetting the reported income, it also got us in good standing with the revenue officer and collections against Arthur were frozen. We then negotiated a partial pay Installment Agreement on the remaining balance in the amount of $580 per month. The taxpayer will only pay back the IRS $69,600 for a period of 10 years that is left in the statute. All told, Arthur will save about $383,916 PLUS future penalties and interest.

A $453,516 tax bill isn’t something anyone would be excited to be on the tail end of. Thankfully for Arthur D., he was also on the receiving end of $383,916 in savings, which is something he did get excited about.

He saved over $500,000!

Like a tiger, tax debts are hungry predators. Not only do they grow quickly, but they sneak up fast and without warning, inflicting an incredible amount of carnage to an unsuspecting taxpayer. Take our client John S. for example. He was working when a notice of a wage garnishment in the mail was the first sign something bad was lurking. When he looked deeper, he was in for the shock of his life. Not only was the IRS threatening to take up to 75% of his income, they were also on the verge of levying his bank accounts and taking everything he had. Turns out, he owed a massive $588,206! Using his wits, he realized he was in over his head in the IRS jungle, and called StopIRSDebt.com for help. That was a very good decision.

StopIRSDebt.com first filed the client’s delinquent 2001-2008 tax returns, stopped all collection actions on his accounts and since the IRS accepted his CNC status (currently non-collectible), when the statute of limitations expires it will have effectively reduced his balances from $588,206 to $50,726 thus saving client $537,480.

Getting hit with a massive tax debt can be stressful for anyone, but clients like John S. show that with the right ammunition and the right people on your side, you too can come out safely from the IRS jungle.

He has 2.2 million reasons to be happy!

There are all kinds of tax debts out there; large, small, and sometimes they come super-sized. In the case of Steven G., he owed a whopping $2,278,000, and because the tax debt was so large and unmanageable, he just let it sit, collecting penalties and interest at alarming rates. Thankfully Steven came to his senses in time and contacted our staff of tax attorneys and tax relief professionals to help sort out the million-dollar mess. His results were so impressive, they’re featured at the end of our new high-definition TV commercial, which you can view in the right hand column of this page. But enough about commercials. How did we get him such impressive results?

The IRS had assessed the taxpayer $2,278,000 since he had not filed tax returns for several years. StopIRSDebt.com compiled all the records of account, assembled all the bookkeeping, and filed the missing years of tax returns to bring him compliant, which reduced the balance of the tax debt owed to $440,000. This initially saved the taxpayer $1,838,000. We then negotiated a small $500 partial payment plan installment agreement on the balance, allowing the statute of limitations to expire long before the balance is paid. Translation? When paid off in ten years, the $440,000 balance owed in tax debt will be discharged for only $60,000. To sweeten the pot, we also discharged the Federal Tax Lien from the taxpayer’s real estate, allowing him to sell his property. All told, he will have saved around 2.2 million in IRS tax debt!

Having a massive tax debt in the millions is thankfully not something many taxpayers will have to experience. But even if your tax debt isn’t super-sized, your tax relief results can be. Just ask Steven G.