Success Stories 

Offer In Compromise Accepted

Client Name: George S.

 

George hired Capstone for assistance in resolving a $35,000 tax debt to the Internal Revenue Service after he and his wife filed several years of missing tax returns. Immediately, we recognized that his income and circumstances warranted an Offer filing. This was done within 30 days of hiring Capstone, and after the case was assigned to an Offer Examiner and rejected, we filed the necessary appeals for reconsideration. Working with an Appeals Officer, Capstone successfully negotiated a settlement on the balance of $3,813 which the client was able to manage through monthly payments and saved our client $31,187.00

Offer In Compromise Accepted

Offer In Compromise Accepted

Client Name: Victor F.

 

Victor, a disabled military veteran who is unable to work, and his only income is from disability payments and a small military pension. Capstone successfully negotiated a settlement in his case to resolve a total liability of over $64,000 for a $2,400, which saved our client $61,600.00. Client was able to manage the small monthly payments and the Offer was concluded and tax liens removed 30 days after the successful settlement of his tax liability for 3% of his original total tax debt. 

Client Name: Victor F.

 

Victor, a disabled military veteran who is unable to work, and his only income is from disability payments and a small military pension. Capstone successfully negotiated a settlement in his case to resolve a total liability of over $64,000 for a $2,400, which saved our client $61,600.00. Client was able to manage the small monthly payments and the Offer was concluded and tax liens removed 30 days after the successful settlement of his tax liability for 3% of his original total tax debt. 

Offer In Compromise Accepted

Offer In Compromise Accepted

Client Name: City of Altheimer

 

Capstone Tax Consulting was introduced Mayor Z. Hudson by Mr. Tim Lemons, who is a Republican member of the Arkansas House of Representatives for District 43 . Mr. Lemons and Mayor Hudson had been working to improve the City's water infrastructure, which was out dated and causing serious contamination issues; however, updates and repairs are costly and the City required grants to aid in structural overhaul. Unfortunately, prior 941-Quarterly Employee Withholding Taxes were accrued by the previous council and left the City with a Federal Tax Lien, which suspended any consideration for government assistance. 

 

Capstone Tax Consulting's President, Nick McGoveran Vice President, Mark Laughlin worked diligently and settled a total balance of $330,000 for the municipality using complex Effective Tax Administration laws and Appeal Filings on several different rejections for a final sum of $70,000. This represents only 20% of the balance at the time of filing the Offer in Compromise. Important note, the City had well over enough in the bank at the time of filing to pay the liability in full, but by using ETA rules and consistent appeals, we were able to show the extreme hardship to citizen services should the IRS force them to full pay the balance.

 

Capstone also, halted levies that were previously capturing large amounts of money from the City’s bank accounts that are set aside for ordinary business expenses. Finally, the Offer acceptance resulted in the removal of all federal tax liens within 30 days of settlement payment and allowed the City to complete the drinking water renovation project through grants that had been previously withheld because of the liens.

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Capstone Tax Consulting, Inc.


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Arvada, CO 80003

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Innocent and Injured Spouse Relief

Client Name: Kate K.

 

An innocent spouse request was submitted for our client in May 2017.  The tax liability was based primarily on tax debt accrued from self-employment income from one individual while the taxpayers were filing jointly.  During the marriage, most of the finances were kept separate, including accounts income and expenses.  However, our client’s spouse oversaw all return preparation and filings for the couple.

 

During the divorce, the spouse in charge of filing agreed to take responsibility of the tax liability owed in exchange for full possession of the family home.  This was agreed to, as the home was supposed to be refinanced or sold to pay the liability in full.  However, this was not done, and the tax debt remained under each individual.  We then prepared and submitted and innocent spouse request along with the necessary supporting document (i.e. divorce decree, deed, etc.) to assist our client in obtaining equitable relief, as she was not the responsible individual, nor was the debt based from her income.  After negotiations and approval of the request, our client was relieved of the joint tax liability and has saved approximately $143,000.

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Offer In Compromise Accepted

Client Name: Stan S.

An Individual, Stan S. retained Capstone Tax on board August 29, 2016, and had liability of $101,000 with the Internal Revenue Service. When Capstone was initially engaged, our client was already in a payment plan of $338 per month. However, after evaluating his case with a Senior Associate in our initial consultation, it became clear, he was a great candidate for an Offer in Compromise (settlement).  Once Stan engaged Capstone Tax Consulting, we advised our client to discontinue making his Installment Agreement payments. Capstone maintained a hold of enforced collection for Stan while we perfected his 433-A, Collection Statement for Individuals. In December of 2016, we submitted an Offer in Compromise for $100.00 saving our client $100,900. July 3, 2018, we received a letter from the IRS accepting our Offer.

It’s important to have a licensed professional review and “perfect” financial information before being submitted to the IRS. In this case our client represented himself and was paying $338 per month, if he would have stayed on this agreement for the life of Collection Statutes (10 years from the date the return [with liability] is filed or additional tax is assessed, whichever is greater), he would have paid $40,560 or more. While there is savings involved in HIS Partial Pay Installment Agreement, it’s falls short of the savings Capstone negotiated for him. Furthermore, Partial Pay Installment Agreements are under a lot of scrutiny and will default if there is an accrual of liability, a missed/underpayment payment, unfiled or not timely filed return, and the IRS will review the collection potential every two years which will put you back into open collections.

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