The 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!