THE BENEFIT OF PARTIAL PAYMENT INSTALLMENT AGREEMENTS CASE SNAPSHOT Client: Husband and Wife, Each With Their Own Business Type of IRS Issue: Payroll Forms Tax Years in Question: 2012–2023 Payroll Taxes and Business Income Taxes IRS Claimed Liability: $276,847.63 Savings: $264,847.53 This client came to us with payroll tax and business tax issues. Due to the husband battling lymphoma and the wife suffering from Hashimoto’s disease, both were struggling to run their businesses and keep compliant with the IRS. To add to the stress, the client’s lease was not renewed as the house was sold, and the client had to move several times while we worked with them. Part of their liability stemmed from an issue with the Schedule C payroll forms. We investigated the issue and discovered that the forms were correctly filed; however, the IRS was experiencing issues updating its systems. After correcting the problem, we were able to negotiate a Partial Payment Installment Agreement that will ultimately save the clients $264,847.53, or 95.7% of their original liability. WIN OF THE MONTH
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complex partnerships, where underreporting is more difficult to detect, and the potential revenue recovery is significantly higher.
What are some audit triggers to watch for? While income level plays a role, certain factors can raise red flags regardless of earnings. These include unusually large
deductions, aggressive business losses, foreign bank accounts, cryptocurrency transactions, and inconsistencies between reported income and third-party records. The more complex your return, the more important accuracy becomes.
How can you protect yourself this year? Preparation is your best defense. Start by maintaining detailed records for income, expenses, and deductions. If your finances are complicated, working with a CPA or enrolled agent can help ensure compliance and spot potential issues before filing. It’s also wise
to review returns carefully for errors and correct mistakes proactively through amended filings when necessary.
DIRECTIONS
1. Pat chicken dry and season both sides with salt and pepper. 2. In a skillet over medium-high heat, heat olive oil. 3. Sear chicken for 2–3 minutes on each side until golden. 4. In a small bowl, mix hot honey and minced garlic to create a glaze. 5. Place the seared chicken in a baking dish. Pour the hot honey mixture over top. 6. Sprinkle chicken with crumbled feta, then rosemary or thyme. 7. Bake at 400 F for 20–25 minutes, or until internal temperature reaches 165 F. 8. Optional: Broil for 1–2 minutes for extra caramelization. 9. Let rest for 5 minutes. Garnish with lemon juice and extra herbs before serving.
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