From Overwhelmed to Overjoyed: A Taxpayer's Journey to Financial Freedom

The Problem

The taxpayer was in debt for more than $50,000 across two tax filings, and the Revenue Officer had already imposed a levy on the taxpayer's primary bank account. The taxpayer contended that errors in the initially filed returns had led to an inflated tax liability. Without a resolution, the Revenue Officer intended to impose another levy on the account within weeks.

The Challenges

• Debt exceeding $50,000 across two tax filings
• A levy already imposed on the primary bank account by the Revenue Officer
• Disputed accuracy of the initially filed returns, leading to an inflated tax liability
• An urgent need for resolution to prevent a second levy within a matter of weeks

Our Approach

After securing power of attorney for the taxpayer, we took over all interactions with the Revenue Officer. Using information from the taxpayer's bank and credit card statements, we prepared and submitted corrected returns for the disputed tax years, along with a new return for the most recent tax year.

The Outcome

• The corrected returns reduced the amount owed to below $45,000
• We arranged a streamlined payment plan of approximately $700/month for 72 months
• The lien and levy on the taxpayer's account were removed
• The taxpayer and fiancée were cleared to move forward with purchasing a home together