A taxpayer residing in Broomfield, Colorado hired Timberline Tax Group for overall account protection and resolution regarding his federal and state tax liabilities. Upon review of the account, the Enrolled Agent determined that the taxpayer qualified for a streamline Installment Agreement with the IRS; however, upon further review, it was determined that he also qualified for an Offer In Compromise. On an original liability of approximately $50,000, the Offer In Compromise was negotiated for settlement of $6,622.00. With this resolution, the taxpayer saved $43,531.12.
Once the Internal Revenue Service account was resolved, the Enrolled Agent then turned his attention to the State of Colorado Department of Revenue. With verification of the federal settlement, an Offer In Compromise was filed with the state as well to try and settle the balance of $7,902.30. After intensive negotiations, an Offer was approved for $200 saving the Client $7,702.30!