My actor buddy, Roderick, is the most upbeat guy I know, and is also one of the most resilient. Relying on a profession where, according to estimates, more than 95% of Screen Actors Guild’s members make less than $1,000 per month, one has to have incredible faith. Despite the odds, he has unyielding passion and maintains the expectation of success.
I can remember one of the rare times seeing his spirits down, and for good reason. His normal jovial mood turned to despair when the IRS enough to land. After receiving a letter from the IRS, and no check from his employer, my buddy’s creative energy came to a screeching halt. Fortunately for him, he called me first before contacting the IRS.
Like many Americans, my friend was in a hardship situation, and needed his wage garnishment lifted immediately in order to survive. More importantly, he needed a long-term plan to permanently release the stranglehold the IRS had on his ability to live without fear.
On our initial phone call, I could definitely hear the frustration in his voice. After years of successfully battling with IRS collection agents, I knew I could improve his IRS situation. Conveying this measure of optimism during our conversation, I eventually was able to put his mind at ease.
To The Rescue
Once we started the process, I immediately contacted the IRS and I successfully negotiated the release of the garnishment. More often than not, the IRS is willing to relinquish a levy or garnishment once we demonstrate in good faith that we are actively working towards a resolution. The task of getting a levy or garnishment released becomes much easier if the taxpayer hasn’t reneged on a prior IRS commitment.
The next step was to put together his OIC proposal. This process is formula driven, and dictated by the IRS manual. Having years of resolution experience, a firm grasp of the IRS manual, and staying abreast of the agency’s constant rule changes, gives me a decisive advantage over most in knowing how to calculate the lowest settlement possible.
After finalizing his OIC proposal, and gathering the supporting documents, we were all set to submit it. Approximately four months had passed before we received the IRS settlement acceptance letter (see it here), which wiped out $27,457 of tax debt and resulted in my client/friend owing only $320!
Needless to say, my good friend’s anxiety and fear is gone. Best of all, his creative juices have never flowed better. He completed a TV pilot that has garnered the interest of a major talent agency, and he continues to work on other projects. When one has a clear mind devoid of negative distractions, they increase their chances of achieving success.
Are you, or someone you know stressing out and passing up a potential savings by not taking action on your back tax debt?
For more information on tax resolution services,
Craig Thomas can be reached at: firstname.lastname@example.org