Many times when our clients hire us to resolve their outstanding IRS tax debt, they are usually up against a wall. Either their bank accounts have been levied, wages garnished, or the IRS is knocking at their door.
One of our clients came to us in January of this year with a levy against his bank accounts and wages as it related to his IRS tax debt of $11,000. There was not a lot of work to complete, however, the work necessary to get the levy released was crucial. We needed to contact the IRS ACS division immediately, which is a collection division of the IRS. We contacted the IRS and after we were on hold for awhile, we spoke to a gentleman who was willing to assist us with the IRS tax debt problem. The clients bank accounts were levied for $7,800 at the time of the levy (savings and checking included). His wages were also being garnished to the tune of 25% of his gross wages in order to fully pay the IRS tax debt.
At the time of the call we did not have financial data to offer or a payment plan to offer to resolve his IRS tax debt. Further, the IRS collection statutes were going to expire come July of this year. We knew the statutes were close to expiring as it related to the IRS tax debt and this information was crucial to resolving the outstanding debt for our client. Therefore, we didn’t want to give too much information, nor did we want to set up a payment plan the client could not afford. What we offered the IRS was a 60 day full payment deadline to handle the IRS tax debt. Therefore, we have a call back date of March 1st to provide financial information and a payment plan proposal. The levies against the bank accounts and wages were released immediately and faxed to the appropriate parties. The client was ecstatic.
Ultimately, we will set up a small payment plan on his IRS tax debt until July of this year. When it is said and done he will have save over $10,000 on his IRS tax debt. He is grateful for the work we did. Of course, if you are in trouble with the IRS and owe IRS tax debt please see our website for more information at www.htg2020.wpengine.com or call me directly at 720-398-6088.