Grace's Case Study
Retired Nurse Defeats Social Security Levy
TaxRise settles debt for 96.9%
| April 28, 2022
Hamlet, North Carolina – A nurse, who had to retire prematurely, manages to defeat the social security levy despite years of unpaid taxes.
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For the majority of our clients, their tax issue is one that snowballs. Grace’s* situation is a prime example of this phenomenon.
From 2007 until 2017, Grace had not paid her taxes. She owed both the state and the federal government $19,269.64 worth in liabilities.
Grace wanted to resolve her tax debt, but various life circumstances caused her to prioritize other things. Her tax debt would reach a tipping point when she had to retire prematurely.
Grace's hospital closed down in 2017. She had to retire early.
The hospital she worked at unexpectedly shutdown in 2017. Grace, seeing no other options, chose to retire. At this time, while she was living on social security, the IRS sent her a letter.
In essence, the IRS said, “pay your taxes, or we’re going to take your stuff.”
TaxRise's Resolution Strategy
The IRS later followed through on their threat to levy Grace’s social security.
Immediately, our tax experts got to work resolving the levy. To do this, we needed to convince the IRS to place her on Currently Non-Collectible (CNC) status. While in CNC status, the IRS could not levy her social security.
To stop the SS levy, we needed to get Grace in CNC status.
Halfway through the CNC status call, the system crashed – deleting all of the financial information we had established. Our tax attorneys were transferred to another agent and started again.
Meanwhile, our CPAs got Grace current on all of her unfiled tax years, reducing her total balance down to $3,866.07. All that remained was a final round of negotiation.
The End Result
Grace accepted the IRS’s offer for $603, which was a considerable reduction from $19,269.64. As a result, her tax debt got settled for 3.1% – a savings of over 96.9%.
See Grace’s signed Offer in Compromise Below!
* Client’s name changed for privacy.
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