Client Assessed Over $200,000 But Can't Pay
A client was assessed over $200,000 from several years earlier when he had owned and run a large shrimp boat. In the years since he had divorced, abandoned the boat, and his accountant had retired. Ms. Rosenblum and the client met and developed a strategy to approach the collections issue. The client was willing to turn the boat over to the IRS, but the IRS rejected it because it was in such rough shape and unlikely to bring much value. The client's current state salary, alimony and child support obligations limited his ability to pay the IRS. Additionally, because of the date of the assessment by the IRS, the IRS did not have long left to collect. The IRS agreed to A Partial Payment Installment Agreement that allowed him to pay $1800 total over the next two years as long as he filed his tax returns on time.
Tara Rosenblum is a Florida Tax Attorney representing clients statewide before the IRS. For more information on how our office can assist you with your tax problems, please call 239-580-6930.
Practice area(s): Tax