Successful Case Studies for Business Tax Help

Case #1

An electric company in New York came to OMNI after the Internal Revenue Service had levied its bank accounts and account receivables. The levy would have fully paid the federal tax liability of $60,000. OMNI appealed this action through a Collection Appeal Request and, over extended negotiations with the appeals officer, were able to have the entire levy released and an Installment Agreement granted to pay the liability.

Case #2

An individual in Ohio had a federal tax liability of $40,018. OMNI Financial prepared an Offer In Compromise which resulted in the Internal Revenue Service accepting an offer of $4,567 to settle the case. This amount was paid in installments of approximately $190 per month for 24 months.

Case #3

A company in Kentucky was being shutdown by the IRS. OMNI obtained the time to collect bank statements, canceled checks and invoices to create a Profit & Loss Statement from the business. Upon submitting financial statements and the Profit & Loss Statement to the revenue officer, OMNI Financial was able to successfully negotiate an Installment Agreement satisfactory to the client.

Case #4

An auto repair business in Seattle was days away from losing their business registration when they hired OMNI Financial. The business had failed to pay state sales tax and had recently defaulted a previous payment agreement. As a result, the state was prepared to move forward with bank levies and seizure of assets to satisfy the liability. OMNI was able to negotiate a payment arrangement that was four times less than the previous arrangement while keeping their business registration in tact. The business is now on a formal agreement and the State of Washington is no longer in a position to revoke the business registration or pursue enforced collection.

Case #5

The widow of a small business owner was left with a tax liability of approximately $18,000. The woman had never worked a day in her life, but because the taxes were filed jointly she was responsible for the full amount.

An Offer in Compromise was submitted on her behalf arguing that the widow had insufficient assets and income to pay the full amount. After many rounds of negotiations with the appeals officer, OMNI was able to negotiate a settlement amount of $2,200.

Case #6

An individual was assessed penalties for failure to file and pay taxes under prior law requiring her to file and pay capital gains taxes when she sold her home and did not reinvest in another home within two years. Researching the old law and working through the Taxpayers Advocate's Office, over $35,000 in abatements was granted.

Case #7

The president of a contracting firm was always out of the office on jobs. A man was hired to manage the office during the president's absences. This employee allegedly mishandled the payroll taxes and represented himself as the owner. The president returned to learn in a meeting called by the IRS that the corporation was heavily in debt to the IRS for trust fund taxes. OMNI Financial negotiated a $120,000 penalty abatement, leaving the corporation with no tax debt.

Case #8

A brother and sister owned and operated a small automotive shop in Houston. The business had run into some tax problems when Enron went out of business, affecting the entire local economy. OMNI Financial was hired to negotiate a reasonable installment agreement payment and penalty abatement.

The IRS tried to assess the Trust Fund Recovery Penalty to each of the siblings. OMNI successfully protested the Trust Fund assessment based on the fact the business had the ability to pay the liability of $17,000.

The client received a full abatement of penalties, enough to pay the liability and collect a refund check for $4,600.

Case #9

An electric company in Colorado hired OMNI to arrange an installment agreement and an abatement of penalties. Through negotiations with four different Revenue Officers and an Appeals Officer, OMNI was able to reach an agreement for a payment plan. The client also received a Penalty Abatement for $23,551.39.

Case #10

After closing his glass company in California, an individual came to OMNI for assistance in resolving the personal liability he had been assessed by the IRS from the corporation. After analyzing his financial disposition, it was determined that he was a candidate for an Offer in Compromise. After preparing, submitting, and negotiating the Offer for him personally, the IRS agreed to a settlement of $4,900 on a $129,000 liability.

Case #11

A docket and clerking company in Chicago hired OMNI when the IRS threatened levy action and even seizure. The IRS claimed that the company owed over $50,000. However, the owner held that he did not owe the money and had been making all the required deposits and payments for the company. After an extensive review of the liabilities owing and the IRS records, OMNI was able to correct the account with the Revenue Officer and his General Manager, allowing a negotiated installment agreement on the actual liability of $6,000.

Case #12

Our client owned and ran a software development company that failed in 2001. The business owed several hundred thousand dollars in Federal and State tax liabilities. OMNI assisted the client with the disposition of the sale of proprietary software that was under IRS Lien by obtaining a Certificate of Discharge of Federal Tax Lien so the client could liquidate this asset.

Even though the owner filed bankruptcy, the Civil Penalty taxes assessed against him personally were not discharged. An Offer in Compromise was filed for less than 1% of the amount owed. Because this was such a small amount against the total liability, this Offer received extensive and exhaustive review by the IRS. In 2004 our client paid $2,500 against his tax liability, then in excess of $250,000. The client's entire debt has been discharged as long as he continues to meet his current (and future) tax obligations.

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