TaxRise negotiates $200 monthly payments for a $423,529 tax liability, saving a business owner thousands
Orlando, Florida | January 2025 – In an extraordinary demonstration of financial resilience, a local entertainment company owner overcomes years of tax challenges, ultimately finding financial freedom through TaxRise’s services.
Nathan faced what seemed like insurmountable odds: a complex tax situation that threatened his entire business and personal livelihood. Through TaxRise’s dedicated efforts, his $423,529.91 tax burden was dramatically reduced to a manageable monthly payment plan.
What began as a series of missed tax payments from 2009 through 2023 would spiral into a complex financial situation that would push Nathan into the most difficult challenge of his professional life.
A Cascade of Misfortune
Nathan’s tax troubles started innocently enough. As an entertainment business owner managing performances for Disney World and Universal Studios, he failed to make consistent estimated tax payments. He attempted to resolve his tax debts with a different tax relief company, but their Offer in Compromise (OIC) submission failed, leaving him feeling hopeless and defeated.
But life had an even greater challenge in store.
Financial Survival
The IRS began aggressive collection efforts. Multiple notices arrived, including a CP504 that threatened to levy his assets. What followed was a near-total financial shutdown. The IRS froze his business and personal accounts, sending his business to a screeching halt.
On paper, Nathan seemed to have money. But in reality, he was experiencing financial hardship.
“COVID affected my ability to live life to the fullest,” Nathan reflected. “At one point, I contemplated selling my home just to pay my tax debt.”
The Long Road to Resolution
Previous attempts to resolve the situation himself proved futile. The IRS representative he spoke with seemed unhelpful, and his former accountant was equally ineffective. “My CPA was absolutely useless,” Nathan admitted. “He never thought [he] could settle [my] tax debt like this.”
In the midst of his financial crisis, the IRS demanded monthly payments that would consume all of his disposable income. Overwhelmed and unable to navigate the complexities of his tax situation, Nathan reached out to TaxRise for help.
TaxRise’s Resolution Strategy
Our management team felt deeply for Nathan – a business owner with many employees depending on him for work, income, and livelihood. Our team took the lead in developing a comprehensive resolution strategy. First, we conducted a thorough review of his financial records, uncovering the full extent of his tax liability.
Understanding the gravity of Nathan’s hardship, we crafted a compelling case for the IRS. Our Tax Professionals submitted a detailed financial statement and letter of explanation, highlighting Nathan’s limited disposable income and unique financial challenges.
Nathan’s Triumph
In a remarkable victory, TaxRise negotiated a Partial Payment Installment Agreement in which Nathan was obligated to make payments of only $200 per month. Unless his financial situation drastically improves, he will ultimately pay only $24,000 – saving nearly $400,000.
“I was resurrected from financial death,” Nathan shared. “I’m so lost for words… miracles never do cease. I never thought my settlement would be only $24,000.”*
With this financial burden lifted, Nathan can now focus on his entertainment business, secure his financial future, and look forward to a debt-free retirement. Be the next success story! Take our survey to see if you qualify for the Fresh Start program.
*Partial Payment Installment Agreements are subject to financial reviews every two years. As long as Nathan’s financial situation remains substantially the same, his agreement should stay in effect and yield hundreds of thousands in savings. This is an actual client outcome based on their unique situation. Results vary and are not guaranteed.
