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Offer in Compromise Pays Off! WIN OF THE MONTH
CASE SNAPSHOT
Client: Insurance Agent Type of IRS Issue: Business Tax Tax Year in Question: 2014–2020 IRS Claimed Liability: $30,999.93 Savings: $27,362.93
DIRECTIONS
INGREDIENTS
1. In a medium nonstick skillet over medium-high heat, add 1 tbsp oil. Pat scallops dry and sprinkle with pepper. Add scallops to pan and cook, flipping once, until browned and just cooked through, 1 1/2–2 minutes per side. Set aside. 2. In the pan, add remaining 1 tbsp oil, asparagus, and carrots and cook, stirring frequently, until tender, 2–3 minutes. 3. Add shallot, olives, capers, and garlic and cook until fragrant, about 1 minute. 4. Add wine and cook for 1 minute. Remove from heat and add butter; stir until melted. 5. Plate veggies with scallops, then drizzle with pan sauce. Serve with parsley if desired.
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2 tbsp extra-virgin olive oil, divided 8 oz sea scallops, tough side muscle removed Pinch of ground pepper
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Our client, an insurance agent, owns a Schedule C business that owes money every year; however, he has been financially unable to pay the balance. He owns a house with a mortgage, and according to a Zillow appraisal, the value of the house made it impossible to enroll the client into an Offer in Compromise (OIC) to settle the amount due of $30,999.93. We met with our client in regards to the value of the house, and found a great deal of money had been spent on repairs, including foundation and plumbing repairs. In order to get the house into market condition, these repairs were completed at great expense to the client. We worked to reduce the value of the house based on the repairs. This made the client eligible for an Offer in Compromise. We then negotiated a payment in the amount of just $3,637.00. This saved the client a whopping $27,362.93 or 88% of the initial liability!
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8 oz asparagus (1/2 bunch), trimmed 6 oz baby carrots, halved lengthwise
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1 medium shallot, minced 5 pitted green olives, coarsely chopped 1 tbsp capers, chopped 1 clove garlic, minced 1/4 cup dry white wine
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1 tbsp butter
Chopped fresh parsley to garnish
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