Health Care Provider Gets Debt Relief through Tax Installment Agreement
A health care provider contacted Omni in 2006 after $32,000 in its receivables had been levied. The capturing of these funds debilitated the corporation because it greatly depended on receivables to provide home health care to those in a financial hardship.
The health care provider had previously been a partnership, but upon incorporating, a new EIN number had been issued. Medicare and Medicaid proceeds that were due to the partnership were being paid to the Corporation when the IRS intercepted. The partnership still owed the IRS $354,000.00.
The client began having problems receiving payments from Medicare and Medicaid and missed some deposits in the 4th Quarter of 2006. The Revenue Officer then issued a Final Notice of Intent to Levy that Omni appealed. Due to the fact the taxpayer was not current, Omni lost the appeal, and the client was levied again in March of 2007. Omni persistently tried to get the taxpayer current but could not overcome the issue of Medicare and Medicaid not paying.
The client’s case has since been transferred to another Revenue Officer, and Omni has finally been able to help establish an installment agreement of $1,000.00 per month on $450,000.00 of tax liability.
Is a tax installment agreement right for you? Contact us today to find out.
