Self-Employed Truck Driver and Wife Resolve $24,511 Tax Debt
TaxRises settles debt for 96%
| October 2, 2020
Wisconsin – Truck driver successfully reduces $24,511 debt after falling behind on taxes, thanks to the assistance of TaxRise.
Mahir* is a self-employed truck driver. He and his wife, Sidra*, always managed to stay on top of their bills and payments – until Mahir’s father started having heart problems.
Mahir’s father was quite elderly, and in 2017 his heart began to fail him. His heart conditions got so serious that he was unable to work or take care of himself. Mahir served as his father’s caretaker and covered all of his expenses.
While incredibly selfless, caring for his father was costly. Mahir had to split his income in half to cover all necessary expenses. Unfortunately, his father would pass away three years later in 2018.
During the years where he split his income, Mahir and Sidra fell behind on their bills and accumulated a tax debt of $24,511. With no feasible way of resolving his debt, Mahir turned to TaxRise.
TaxRise's Resolution Strategy
The best debt relief program available to taxpayers is an offer in compromise. Ideally, TaxRise strives to get each of our clients an offer in compromise (OIC). In reality, it is quite a tedious and difficult process – not everyone can qualify.
When getting the IRS to approve an OIC, we must prove our client experienced hardship. In Mahir’s situation, there were sizable expenses that came along with his work as a truck driver.
Combined with the years he spent splitting his income, TaxRise could argue in favor of an OIC for Mahir.
However, the IRS won’t just hand over an OIC; they need solid evidence. So, the professionals at TaxRise got to work compiling and organizing all vital information for Mahir’s case.
Just before we finished our work, Mahir informed us that the IRS had sent him a letter expressing their intent to put a levy on his assets. Thankfully, we had preemptively protected him with power of attorney.
The End Result
Mahir and Sidra’s OIC was accepted for $500. As a result, their collective IRS tax debt was settled for 4% – saving over 96%!
See Mahir and Sidra’s signed Offer in Compromise Below!
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* Clients’ names changed for privacy.