Tax Law Offices Reduced Clients’ Taxes and Penalties by 99 Percent

Last year we accepted a new client with a serious IRS problem. The government sent a bill for almost $300,000. But we disagreed with that amount. Instead, we believed our client should only pay about 1% of that tax bill. We were right! After several months of work on this problem, we convinced the IRS that their bill amount was wrong.

So What Happened?

Their tax accountant was smart – he asked for help! This situation came to us when IRS tried to enforce collection of $297,000 of tax, penalty, and interest. The clients were obviously upset. Their tax accountant tried to fix the problem but could not. The situation was difficult, very technical, and something that tax accountants tend not to know about tax law and the IRS. So they reached out to Tax Law Offices in Downers Grove near Chicago.

The Process

Every situation begins with some fact-finding and analysis. We consider the client’s financial situation, tax returns, the detailed codings within the IRS transcripts, and our detailed fact-finding interview. When information is missing, we have to help the client figure out the missing pieces.

In the case above, we discovered that the clients were not aware of some past mistakes in their tax returns. But the IRS also made some internal mistakes. The result? The government assessed too much tax, penalties, and interest.
We followed a series of procedural steps to systematically remove this tax liability. Over just a few months, we were highly effective. We reduced the tax, based on our analysis and experienced work. The backed tax liability changed from $294,441 down to $2947. That was a reduction down to only 1% of the old tax bill!

Is this What I Can Expect?

Obviously, everyone’s situation is unique, and we still create these results all year long. Accountants and business owners with serious tax problems should always seek out a well-trained, experienced specialist. Try to find an attorney with a great reputation. It truly matters what past clients think. Remember to be patient with the process because it will take time to resolve.

Business owners, tax accountants, remember: Get the right help. It matters!

Written by J Anton Collins, JD, LLM (former CPA and former IRS). Attorney Collins is a principal and frequent blogger at Tax Law Offices.