Over a Half Million in Back Taxes Settled for Less than $1,000

An owner of a concrete construction company hired Omni to help him deal with a $100,000 business liability accrued when he failed to file and pay 941, 940 and 1120 returns for his business.

After working in the industry for his whole life, the client actually became allergic to the concrete, and had to shut down the business. Omni Financial assisted him in getting the missing returns filed and shutting the business down properly.

After several months of working with Omni to file his missing returns, the client ran into many personal problems. Omni was able to help the client work through his problems and obtain an additional extension to file his missing returns.

After the client filed all his missing returns, Omni discovered that he had a personal 1040 liability of approximately $310,000. Once the Civil Penalties from the business were assessed, the client’s personal liability was approximately $425,000.

Omni quickly submitted an Offer in Compromise to the IRS. After requesting a few additional supporting documents, the IRS accepted the original Offer of $772 to resolve the client entire tax liability. After paying Omni, the client saved a total of $417,500.

Is an Offer in Compromise the right way to settle your tax debt? Contact us today for a free tax debt consultation.