A taxpayer residing in Westminster, Colorado reached out to Timberline regarding his State of Colorado and IRS account issues for individual taxes due, including $4,095.00 to the state and $23,448.00 to the IRS. Once the Enrolled Agent was able to work with the client to obtain full tax return compliance, the liabilities increased to $6,006.00 and $26,402.92 respectfully. It was also determined at that time that the taxpayer was being garnished 25% ($450) per paycheck by the state. Timberline was successful with negotiating a lowering of the garnishment to $250/month.
In regard to the IRS, a full financial review was conducted, and it was determined that there was a significant financial hardship showing. The Enrolled Agent negotiated with the Automated Collection System and finalized a currently not-collectible status for the taxpayer. Additionally, a penalty abatement was approved for $1,589.76. The client was completely satisfied with Timberline’s efforts and the resolutions that were negotiated!