Equity Search Results

Equity Search helps Independent Contractor settle nearly $70,000 IRS debt for a little over $6,000

• Problem: This independent contractor in Orchard Park, NY owed back taxes for four years. Upon reviewing his returns, it was determined that he also inadvertently left out a capital gain from the sale of a home. 
• Solution: Equity Search had the taxpayer amend his previously-filed return to reflect the gain. Equity Search helped the client submit an Offer in Compromise for the back taxes owed.
• Result: After Equity Search's negotiations with the IRS, the offer was accepted, and the taxpayer's debt of $69,685 was settled for a payment of $6,055.

Maryland Taxpayer settles $708,000 for $50,000 with Equity Search assistance

• Problem: Financially overburdened taxpayer in Upper Marlboro, MD needs a way to regain financial stability.
• Solution: Negotiating under the principal of Doubt as to Collectability, the terms enabled the taxpayer to settle a government obligation for about eight percent of the IRS' original demand.
• Result: The IRS had assessed a total liability of $708,896.49 for the taxpayer over three years. Agreement was reached with the IRS that $50,000 would be a fair and reasonable settlement. 

While not all taxpayers obtain such a reduction from IRS demand, the results demonstrate the value of obtaining expert advice in seeking relief from collection pressures.