Nov 29, 2016

Recently Accepted Penalty Abatement Request (State of Texas)

A business located in Houston, Texas hired Clear Creek to draft and submit a Penalty Abatement request to the Texas Comptroller of Public Accounts. Our client had accrued and paid off a little over $100,000 in state liabilities which included principal tax, penalties, and interest due to the fraudulent activity of one of the co-owners of the business. The Associate was able to demonstrate that the liabilities were the result of fraud, and investigations by both the FBI and SEC are ongoing. As such, our request to abate all penalties and interest that accrued between 2013 and 2015 was accepted. Our client has received a refund check totaling more than $12,000.

A Recent Partial Payment Installment Agreement Accepted

A business in Anderson, Indiana, hired Clear Creek to assist in resolving a debt of approximately $235,000 owed to the IRS. The Associate assigned to the case was able to request a file transfer to a revenue officer to expedite the resolution of the case, and simultaneously worked with our client to prepare and submit a financial statement with a proposal for a Partial Pay Installment Agreement. Upon assignment to the case, the Revenue Officer immediately issued a Final Notice of Intent to Levy. Clear Creek successfully submitted a Request for a Collection Due Process Hearing in response. The Associate and his team were then able to successfully negotiate the requested Partial Pay Installment Agreement for $800 per month. This accepted payment arrangement will save our client approximately $155,000.

Recent Offer in Compromise Accepted

An individual from Desert Hot Springs, California hired Clear Creek to manage a Federal tax liability of $1,500,000 for past due Individual Income taxes. The Associate assigned to the case was able to negotiate a ‘Stay on Enforced Collections’ to protect our client’s assets while compiling all of the requested financial documents. Upon receipt of the financial documents, the Associate analyzed our client’s financial condition and determined that an Offer in Compromise would be the best possible resolution for the Internal Revenue Service. The Associate then prepared and submitted all of the applicable documentation with a proposed Offer amount of $5,554. We then monitored the progression of the case and were able to conduct a hearing with the assigned Offer Examiner. The Offer Examiner assigned to the account initially denied the Offer in Compromise, due to equity in assets. However, we were able to provide documentation to verify the inability to obtain lending and support all expenses claimed on the financial statement. Based on the additional information provided, the original Offer in Compromise figure was accepted. This resulted in a savings of $1,494,445 for our client.

Recent Offer in Compromise Accepted

A taxpayer in Houston, Texas hired Clear Creek to resolve a personal tax liability of $84,000 with the Internal Revenue Service. After a thorough review of our client’s financial statements, the Associate assigned to the case determined that an Offer in Compromise was the best option for our client. The team quickly negotiated a ‘Hold on Enforced Collection’ action to allow time for our client to gather the requisite documentation necessary to submit the Offer. The Associate reviewed the personal financial information and submitted a proposal for $714. After extensive negotiations with the Offer Examiner, the Associate was successful in negotiating a tax settlement for $714. Due to the acceptance of the Offer in Compromise, our client will save over $83,000.

Recent Offer in Compromise Accepted

An individual in Portage, Indiana hired Clear Creek to manage a federal personal tax liability of $105,000. The Associate assigned to the case was able to negotiate a ‘Stay on Enforced Collection’ action to protect our client’s assets while we compiled all of the outstanding tax returns and the requested financial documents. Upon receipt of the financial documents, the Associate analyzed our client’s financial condition and determined that an Offer in Compromise would be the best possible resolution for this personal tax debt. The Associate then prepared and submitted all of the applicable documentation with a proposed Offer amount of $2,544. We then monitored the progression of the case and were able to conduct a hearing with the assigned Offer Examiner. The Offer Examiner initially denied the Offer in Compromise due to equity in assets and future earning potential, however, we were able to provide documentation to verify the inability to obtain lending and support all expenses claimed on the financial statement. Based on the additional information provided, the Associate was able to counter offer with a figure of $5,000 which was accepted. This resulted in a savings of approximately $100,000 for our client.

Recent Offer in Compromise Accepted

An individual located in Charlotte, North Carolina rehired Clear Creek to manage a liability of approximately $20,000 owed to the Internal Revenue Service for past due personal income taxes. The Associate assigned to the case was able to negotiate a wage garnishment release to protect our client’s assets while compiling the requested financial documents. Upon receipt of the financial documents, the Associate determined that because of the spouse’s health condition and our client’s recent decrease in annual income, the best resolution would be to have our client placed into ‘Currently Non Collectible’ status. The Associate then drafted a formal proposal and submitted it along with all applicable documentation to the Internal Revenue Service. The proposal was accepted and approved on the first attempt, and all periods of liability from 2008 through 2014 were placed into ‘Currently Non Collectible’ status. This decision will be instrumental in negotiations towards having an Offer in Compromise accepted at some point in the near future.

Recent Offer in Compromise Accepted

An individual in High Point, North Carolina, hired Clear Creek to assist him in resolving an personal tax debt of approximately $91,000 between the Internal Revenue Service and the state of North Carolina. Upon acquiring Power of Attorney, Clear Creek learned that the account was in active collections status with substantially higher balances of $133,194 with the IRS and $18,746 with the state of North Carolina. Clear Creek immediately negotiated ‘Holds on collection’ action with both the IRS and state accounts. The Associate assigned to the case determined that our client would benefit most from an Offer in Compromise resolution and filed all necessary paperwork with the state of North Carolina and the IRS. After several months, the state determined that an Offer was not in their best interest, but Clear Creek subsequently negotiated for Currently Not Collectible status instead, protecting our client against enforced collections for the next two years. However, the IRS accepted our Offer in Compromise proposal of $50 to resolve over $133,000 in liabilities owed, and waived the OIC fee.

Recent Offer in Compromise Accepted

An individual in Arizona accrued over $30,000 in tax liability with the Internal Revenue Service over the course of five years. Our client was able to remain ‘Current and Compliant’ from 2012 through 2016, however, he was unable to obtain a favorable financial condition in order to full pay his liability. The Associate assigned to the case submitted an Offer in Compromise on behalf of our client for a total of $100 to be paid to the Internal Revenue Service. The $100 amount was accepted by the IRS to address the approximate $30,000 in liability owed. Our client was able to fully satisfy the Offer in Compromise and absolve his $30,000 tax liability owed to the IRS.