Client Settled Large Tax Debt for a Little Thanks to The Yarborough Office

Wednesday, 3 October 2012 01:23 by David Yarborough

 More Good News!  Another client living tax debt free!

The Yarborough Office just negotiated a $230,310 reduction for a client! 

(September 2012)  A client came to The Yarborough Office owing $230,310 to the North Carolina Department of Revenue, from a failed business venture.  The State of North Carolina assessed a large outstanding business tax debt to him personally.  The Enrolled Agents at The Yarborough Office negotiated an Offer in Compromise with the State and settled his large tax debt for $5,000 - saving our client $230,310.  He has paid his Offer in Compromise in full and is now living tax debt free!

 

IRS Annouces More Flexible Terms to its Offer in Compromise Program

Wednesday, 23 May 2012 00:24 by David Yarborough

 

In a formal news release today, the Internal Revenue Service announced that it will expand it's "Fresh Start" initiative by offering more flexible terms to its Offer in Compromise (OIC) program that will help financially distressed taxpayers to clear up their tax problems sooner than in the past.

"This phase of Fresh Start will assist some taxpayers who have faced the most financial hardship in recent years," said IRS Commissioner Doug Shulman.  "It is part of our multiyear effort to help taxpayers who are struggling to make ends meet."

Read more about the IRS expansion of its Fresh Start initiative.