CELEBRATING
A Burden Is Lifted
2 Client Success Stories
The battle with the IRS continues! This month, I have two more success stories to share. There were more tough situations and negotiations that had happy outcomes. Success Story 1: The first client cried tears of joy when we resolved her case. This client is a self-employed seamstress who had been battling the IRS for a long time. In fact, her troubles really began in 2012 when she was working with an accountant to get her business off the ground. Unfortunately, the accountant left her with bad advice, and she ended up with a tax bill of $27,000. She knew this couldn’t be right, certainly not for a new business owner. Well, she was right. After two years of negotiations between her, myself, and the IRS, they agreed on a settlement. Their number? $100. You read that right. They knocked her bill down from $27,000 to $100. But it did come with a stipulation: She must file and pay all her taxes on time for the next 5 years. It was a stipulation she was more than happy to accept. When I told her the news, she broke down on the phone as her burden had been lifted. Success Story 2: This month’s second client is a residential building contractor. When he hired me, he owed $30,000, and the IRS had filed a tax lien against him. We were initially able to negotiate a payment plan with the IRS. He would pay $500 per month (which was what he could afford) to pay off what he owed.
Supporting the People You Believe In November is usually all about Thanksgiving, but it isn’t the only holiday that encourages generosity. GivingTuesday is a phenomenal celebration in which millions of people from across the globe are inspired to spend 24 hours giving back to the communities they love. Origin andGoal GivingTuesday is celebrated every year on the Tuesday followingThanksgiving, and this year, the holiday lands on Dec. 3! It was established in 2012 by the United Nations Foundation and NewYork’s 92nd Street Y as a response to consumer-driven holidays like Black Friday and Cyber Monday. The purpose of the holiday was to spread the spirit of giving, not only for the people in our nation but individuals across the world. The goal is“to create a massive wave of generosity that lasts well beyond that day and touches every person on the planet.” Technology at Its Best Through the use of social media and technology, the organization hopes to encourage and spread generosity on a global scale using the hashtag #GivingTuesday. The website states that“... technology and social media could be used tomake generosity go viral; that people fundamentally want to give and talk about giving.”Throughmassive social media platforms like Facebook andTwitter, the individuals and companies participating in GivingTuesday can spread their missions and messages all over the world, encouraging others to do the same. HowYou Can Celebrate Now is the perfect opportunity to support your community and the causes you believe in. The best part of this holiday is that“giving”doesn’t just refer to donatingmoney. People can give back by volunteering their time to help a nonprofit business, donating goods and food, or just buying a stranger some lunch. Even the smallest actions can have the biggest impact. If you’re interested in participating in GivingTuesday, get together with your friends, family, sports teammembers, or neighbors to brainstorm on how you can give back. To learnmore about how you can participate, visit GivingTuesday.org.
However, after we came to terms with the IRS, I continued to investigate his case and noticed that something
was off. I realized his accountant had set up his business so inefficiently that he had actually been overpaying for years.
I suggested that he amend these mistakes and get his business
restructured so that it was correct. Once everything was in order, we learned that not only did he not owe the $30,000 but he was also owed by both the IRS and the state of Ohio! He got back a huge refund — $40,000 total for a $70,000 net savings! — and had the tax lien lifted. Going forward, his taxes will be much lower too. That’s a major win-win!
–Toph Sheldon (All amounts listed are rounded to the nearest thousand.)
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