When you start accumulating a significant tax debt, it can lead to a lot of unnecessary stress. For many reasons, it might be complex to navigate a way out and pull down your tax debt obligations. Truth be told, no one wants to pay more tax than they have to. But there are many ways to manage your debts and even out ahead.
But, how? Well, read on to find out how we helped our client bring down his debt of $50,000 to just $5,000.
Case Study: Bringing Tax Debt Down from $50,000 to $5,000
Recently, a client approached us seeking a solution to tax debt of around $50,000 (including penalties and interest). Our tax attorneys used an Offer in Compromise (OIC) to cut his debt to $5,000.
Our client was a business owner in Chicago. His business had been doing exceptionally well, which caused substantial tax bills over multiple years. After some time, his company took a downturn, and he faced some personal financial struggles.
He could no longer afford to pay his $50,000 IRS bill. As a result, he started receiving notices of Intent to Levy, as the IRS was pushing him to pay the funds. That’s when he called Gordon Law Group for assistance.
We guided our client through the IRS Offer in Compromise program, reducing his tax liability to $5,000, which he could pay off in monthly installments.
Gordon Law Group: The Right Legal Help
Whether you come across an IRS audit or find yourself amid a tax crisis, Gordon Law Group will be the right legal help for you. Our experienced tax attorneys protect your assets by navigating the IRS maze and defending you when the IRS knocks on your door.
So, no matter what tax or legal issues you face, don’t wait to seek professional help. Gordon Law Group has the knowledge and experience to handle your legal needs and represent you the right way. Contact us today to schedule a confidential consultation.
Still have questions? Feel free to connect with experienced Gordon Law tax attorneys to discuss your unique tax requirements.