TaxRise Reduces Tax Liability by 99.9%
Denver, CO | January 2025 – In an extraordinary demonstration of resilience, a COVID survivor overcomes a medical hardship and devastating financial situation, ultimately finding financial freedom through TaxRise’s services.
Yvonne faced what seemed like insurmountable odds: a near-fatal battle with COVID-19, learning to walk again, and a six-figure IRS debt. Through TaxRise’s dedicated efforts, her $106,058.69 tax burden was reduced to just $100.
What began as a simple computer failure in 2013 would spiral into a complex tax situation that, combined with a life-threatening illness, would push Yvonne into the most difficult battle of her life.
A Cascade of Misfortune
Yvonne’s tax troubles started innocently enough. After her computer crashed in 2014, she discovered her tax records weren’t properly backed up. Unable to file that year’s returns, she found herself at the beginning of a slippery slope that would lead to years of unfiled taxes.
But life had an even greater challenge in store.
Fighting for Survival
In 2020, Yvonne was hospitalized with a severe case of COVID-19. What followed was a nearly 6-week battle for survival. Her condition was critical, and she remained in intensive care for much of her hospitalization.
“Going through COVID was the hardest thing I’d ever done, and after making it out of the hospital, it’s been a really tough journey to have to deal with the IRS,” Yvonne reflected.
The Long Road to Recovery
The aftermath of COVID left Yvonne with severe physical limitations. She had to learn to walk again, and pandemic restrictions made her long road to recovery even more difficult. Initially staying with her sister, a frightening fall down the stairs forced her to relocate to her parents’ home, which was better equipped for someone with mobility challenges.
In the midst of her recovery, the IRS delivered devastating news: Yvonne owed $69,000 for the 2014 tax year alone. Overwhelmed and unable to navigate the complexities of back taxes while focusing on her recovery, she reached out to TaxRise for help.
TaxRise’s Resolution Strategy
Our management team was deeply touched by Yvonne’s extraordinary story, so our tax experts took the lead in developing a comprehensive resolution strategy. First, our tax professionals brought Yvonne back into IRS compliance, filing all the years of unfiled returns from 2015 to 2020. Tax penalties and interest ballooned her tax debt to a whopping $106,058.69 – an amount that could take the rest of Yvonne’s life to pay off.
Understanding the gravity of Yvonne’s hardship, we crafted a compelling case for the IRS. The team submitted an Offer in Compromise, supported by extensive documentation of her medical ordeal and ongoing challenges.
The End Result
In a remarkable victory, the IRS accepted TaxRise’s offer, reducing Yvonne’s federal tax debt from $106,058.69 to just $100 – a 99.9% reduction.
A short time later, the Colorado Department of Revenue accepted her state Offer in Compromise, reducing her state tax balance from $10,734.49 to just $500.
With these heavy financial burdens lifted from her shoulders, Yvonne can finally focus on what matters most – her continued recovery and physical therapy.
See Yvonne’s signed Offer in Compromise Below! Be the next success story. Take our survey to see if you qualify for the Fresh Start program.
