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Business Restructuring

 

A housekeeping and cleaning referral service located in Puyallup, Washington, hired Timberline to address liabilities with the IRS and the State of Washington. The owner of the business acquired the company from a friend in January of 2016 but was not informed that there was an outstanding tax balance attached to the business. About a year later, the client began receiving notices notifying her of the liabilities owed. Upon review of the account, the Associate immediately initiated full protection on the accounts with both the IRS and state accounts, while assisting with restructuring the current company. The old business’s IRS account was placed into a Currently Not Collectible Status as a defunct entity which saved the new business owner $26,168.50. After further research, the state found that it failed to send a notice of liability to the client within 30 days of acquiring the business in 2016, therefore eliminating the entire state balances owed of approximately $15,000. The client was very satisfied with services rendered and can now rest easily without having to worry about any enforced collection action.

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