IRS Waives $209,650 In Penalties!
A recent taxpayer decided to go into business with a “reliable” partner. Once their business was established, our client discovered that his business partner was embezzling company funds and had not paid their payroll tax. After working with authorities the criminal business partner went to prison and the court ordered he pay $400,000 in restitution. Since the payroll tax was never paid during this time, the business itself is liable for almost $1 million in tax liability! We were able to quickly establish a customized plan and negotiate with the IRS to waive all penalties for a total savings of $209,650! Now our office is in position to resolve the remainder of his tax debt.