Mechanic and His Family Resolve $18,000 in tax debt
TaxRise settles tax debt for 97.3%
| March 11, 2021
Farmington, New Mexico – Mechanic and his family had years of federal and state tax debt, but with the help of TaxRise, they settled their liability for good.
Tax debt is like an avalanche. Because the IRS uses daily compounded interest, all it takes is one year of unfiled or unpaid taxes for a minor issue to grow into a big problem.
In the case of Gordon and Chrissy Captains*, one year of unpaid state and federal taxes led to another year – which led to another and another until eventually, they had $18,642.01 in tax debt.
Stuck in a $367 a month IRS payment plan, the Captain’s family needed an alternative.
TaxRise's Resolution Strategy
An OIC is an agreement between the delinquent taxpayer and the IRS to settle the total tax debt for a more manageable amount.
It is difficult to qualify for an OIC – the IRS requires a lot of financial documentation. However, TaxRise expertly guided Gordon through the resolution process.
The End Result
In the end, the IRS reduced Gordon and Chrissy’s tax debt of $18,642.01 to $500! The final result was a settlement of 2.7% – saving over 97.3%.
See Gordon and Chrissy’s signed Offer in Compromise Below!
* Client’s name changed for privacy.
Take our brief survey to see if you qualify for the Fresh Start Program.