A $1,000 Offer in Compromise Settles Over $200,000 in Tax Debt
A California business owner, who had not paid personal or employment taxes for seven years, owed the IRS over $198,000 and California Employment Development Department over $6,700. He hired Omni Financial to help him create Offers in Compromise to settle his tax debt.
Omni submitted an Offer In Compromise to the State Employment Development Department on behalf of the client, offering $500. After much negotiation and numerous appeals, the Offer In Compromise was finally accepted, and the client was excused from paying $6,300 of this liability.
At that same time, Omni also submitted an Offer In Compromise to the IRS of $500. The IRS countered with a $47,900 Offer. Omni continued to provide documentation showing that the client did not have the future income potential to pay this amount. After numerous appeals hearings and continuous negotiation, Omni was able to convince the Offer Examiner that the $500 offered was the client’s actual ability to pay. The IRS finally accepted the $500 offer, and the client was excused from paying over $197,000 in federal taxes.
With two Offers in Compromise of $500 each, the client saved nearly $204,000.
Let Omni work to help you finally see tax relief. Whether it’s state or federal tax debt, Omni has the experience to help you. Contact us to learn more about our tax relief solutions today.
