1-800-548-4639The original balance of the liability was a little over $330,000.00 for 10 periods of 941 taxes. We initially submitted penalty abatements a few months back, however, the taxpayer needed to correct some documents. Once they were corrected, submitted, processed, and posted we submitted the request again in January of this year. We had successfully negotiated the removal of all the penalties and related interest for all the assessed periods this March. This resulted in the client saving over $123,000.00.
Since the beginning of this case, we also secured a levy release of over $50,000, structured an installment agreement, and negotiated the abeyance of Trust Fund Recovery Penalties without the IRS filing any personal liens.
Here at BC Tax… thats what we call SUCCESS!
Authored by the BC Tax Insights Team, this article reflects the collective expertise and experience of our seasoned tax professionals. The Insights Team at BC Tax comprises specialists with a deep understanding of various tax scenarios and solutions. With a focus on providing informative, accurate, and practical insights, our goal is to guide readers through the complexities of taxation and financial planning. Every piece is crafted with the intent to help individuals and businesses navigate the ever-evolving world of taxes, ensuring clarity and confidence in decision-making.
