Offer in Compromise
Our client incurred a federal tax liability of $1,252,665 and a state of California tax liability of $362,592 for the 1994 through 1996 tax years. Our attorneys submitted offers in compromises to the IRS and California Franchise Tax Board (FTB). As a result of our negotiations, the IRS agreed to compromise our client’s federal tax liability of $1,252,665 to $362,595. This resulted in a savings of approximately $890,070. In addition, as a result of our negotiations, the FTB agreed to compromise our client’s state of California tax liability of $282,000 to $50,000.
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