Omni Helps Client Who Doesn’t Know How Bad IRS Problems Are

A failing business owner recently came to Omni with what he thought was $300,000 in IRS debt. When Omni looked at his finances, however, they discovered that he owed almost $600,000 to the IRS and $60,000 to the State of North Carolina. Omni was soon able to bring his business into compliance with the IRS and negotiated a $3,000 monthly Installment Agreement.

Eventually, however, the client’s business slowed to a trickle, and he had to shut it down. That year, he accrued over $50,000 in IRS debt. He tried to sell his equipment to raise money for his taxes, but found no buyers and defaulted on his Installment Agreement.

After he defaulted, the IRS tried to seize the equipment, valued at about $600,000. Omni was able to save the equipment by proving that a private investor had prior lien priority. Omni also submitted an Offer in Compromise to the IRS that, if accepted, will save the client over $590,000.

Not sure what your tax liability is? Get a partner that can provide real IRS debt solutions.