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IRS Offer In Compromise

 

A self-employed carpet layer from Colorado hired Timberline to protect his personal account from enforced collection action while helping to reduce a liability of $126,000. After review of the client’s financial information, the Associate determined the best possible resolution would be an Offer In Compromise to settle the overall debt. To prevent any disruptions with the account, holds of Enforced Collection Action were negotiated immediately while the Offer was being prepared. As the Offer In Compromise was being assigned, the Enrolled Agent worked with the taxpayer to have them gain a compliant status with his estimated tax payments to ensure the request was considered. Once the Offer Examiner was assigned, and through extensive negotiations, the Offer In Compromise was finally accepted for $16,751.20. This resolution saved the taxpayer approximately $109,000. Once this resolution was fully approved, the Enrolled Agent then filed and negotiated a State of Colorado Offer In Compromise of $250 on an original tax liability of $16,842.64. This saved the client $16,592.64!

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