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Tax Relief with Logan Allec, CPA
Do you owe back taxes to the IRS or your state government or have unfiled tax returns? Then this is the podcast for you! Every Monday, Wednesday, and Friday, Logan Allec, CPA — owner of A+ BBB-accredited tax resolution firm Choice Tax Relief — explains exactly how to get tax relief for your back tax debt. Would you like a FREE tax relief consultation with Logan's company, Choice Tax Relief? Schedule your consultation now by calling 866-8000-TAX!
Tax Relief with Logan Allec, CPA
Offer in Compromise Success Story: $198,212 to $20 [Choice Tax Relief]
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The IRS accepted just $20 to settle $194,212.36 in tax debt for one of our clients.
This is the complete, document-by-document breakdown of how we did it—including the threatening IRS notices, the financial analysis that supported the $20 Offer in Compromise, the offer the IRS wrongly returned, and the improper wage levy issued while the offer was pending.
Do you owe the IRS or your state at least $10,000 in back taxes? Or do you have multiple years of tax returns you need to get filed? Book a free consultation here:
https://choicetaxrelief.com/free-tax-...
Or call 866-8000-TAX.
In this video, I show the actual redacted case documents and explain:
🟢 How a retirement-account withdrawal created an enormous IRS debt
🟢 How interest helped turn the balance into nearly $200,000
🟢 The Offer in Compromise formula the IRS uses
🟢 Why this client’s reasonable collection potential was effectively zero
🟢 How the IRS returned his first offer despite having his payments
🟢 Why the IRS should not have levied his wages while his offer was pending
🟢 How we secured the levy release before any wages were taken
🟢 The IRS letter officially accepting the $20 settlement
🟢 The five-year compliance rule he must now follow
Table of Contents:
00:00 Offer in Compromise Success Story: Nearly $200K Settled for $20
02:22 The IRS Levy Warning That Started the Case
03:20 How He Ended Up Owing Nearly $200,000
04:17 Inside the Offer in Compromise Package
05:23 Do You Have to Be Broke to Qualify?
07:12 Why Necessary Living Expenses Matter
08:08 Submitting the $20 Offer
09:50 The IRS Wrongly Returns the Offer
10:50 The Client Is Thrown Back Into Collections
11:39 Resubmitting the Entire Offer
12:21 The IRS Improperly Levies His Wages
14:12 Getting the Wage Levy Released
15:16 The IRS Accepts the $20 Settlement
16:11 The Five-Year Compliance Rule
17:27 Could You Qualify for an Offer in Compromise?
Important Disclaimer:
This video discusses one client’s specific circumstances and is provided for general educational and informational purposes only. The client’s identity and identifying information have been changed or redacted. This video does not constitute tax, legal, or financial advice and does not create a professional-client relationship.
Offer in Compromise eligibility and settlement amounts depend on each taxpayer’s income, expenses, assets, equity, future earning potential, compliance history, and other circumstances. A $20 settlement is highly unusual, and results like this are not typical or guaranteed. Past results do not guarantee future outcomes. Consult a qualified tax professional regarding your specific situation.
#IRS #TaxDebt #OfferInCompromise #TaxRelief #BackTaxes