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Phoenix Financial Group Attorneys
Phoenix Financial Group settles $812,445 debt for $206,169 through an Offer in Compromise
The taxpayer accrued several quarters of 941 tax debt from 2007-2009. Phoenix’s Enrolled Agent negotiated a settlement by submitting Form 656 – Offer in Compromise along with the required financial statement, Form 433-A Collection Information Statement for Wage Earners and Self Employed Individuals. The settlement was reached by appealing Letter 1058 (also known as LT 11 depending on which department at the IRS sends the letter). By filing the appeal in a timely manner, the taxpayer was protected from enforcement action such as bank levies, accounts receivable levies and seizure. Phoenix Financial Group’s Enrolled Agent negotiated the Offer in Compromise with the IRS Appeals Officer assigned to the case. The settlement resulted in a tax debt reduction of over $600,000. The taxpayer was extremely happy and had no complaints about the service provided by Phoenix Financial Group.