The clients were part of our ongoing monitoring program for previously resolved cases when we received notice from the IRS indicating that one of their previously filed tax returns had an amount owed. The IRS additionally indicated that were going to restart their collections process by initiating bank levies and wage garnishments.
Our office immediately re-established communications with the IRS and suspended all collections activity. We then analyzed the client’s financial condition to determine their best possible settlement options (“BPSO”). Upon finishing our analysis, it was determined that the client had a financial hardship based on their lack of disposable income. Dickmann Tax Group was able to prove this hardship to the IRS and successfully secure a not-collectible status with the IRS. A not-collectible status is a full suspension on all collections which results in the client not having to repay the debt at all to the IRS due to their present financial hardship.
With the debt placed into not-collectible status, the clients were able to resume with our monitoring services and rest easy knowing they were continuing to be well taken care of. Additionally, we were able to secure a large reduction in the debt and have included a copy of their account transcript accordingly.
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.