IRS Trouble Solvers™ Cuts Deal with Illinois Department of Revenue on Huge Sales Tax, Income Tax Bill
IRS Trouble Solvers™ reached a groundbreaking agreement with the Illinois Department of Revenue. This is related to unpaid sales tax and unpaid Illinois withholding income tax.
This is how it came about: our client ran two businesses, both of which ended up failing. One business had employees; our client withheld income tax from employees’ paycheck. But, that withheld tax was never paid to the Illinois Department of revenue.
Our client’s other businesses sold retail, and collected a large amount of sales tax through those sales. However, our client also did not turn those funds over to the Illinois Department of Revenue.
After both the businesses failed, the IL Department of Revenue said our client owed the entirety of the potential penalty from lack of paying both the sales tax and the income tax. The total amount was more $250,000.
IRS Trouble Solvers™ filed a petition with the Board of Appeals, seeking a compromise. After four years of waiting, the Illinois Department of Revenue agreed to accept a much smaller amount to cover the total liability. The total is now little over $40,000. Once the client pays this amount, they will be free and clear of any debt to the state of Illinois.
This was a tremendous success for IRS Trouble Solvers™! If you’re doing the math, the Illinois Department of Revenue is now accepting just 16.5% of the former amount owned. That’s a savings of almost 84% for our client!
Do you or your business have unpaid liability due to the Illinois Department of Revenue? Call us, we can help.