Monday, January 11, 2010

$60,000 Savings in Hawaii

Aloha! I wanted to tell my readers about the most recent successful resolution for our client located in the beautiful State of Hawaii. He has agreed to be on our reference list at Larson Financial, Inc. and has also agreed to submit a client testimonial. Feel free to check it out on our website, which is linked on my homepage.

We worked with the taxpayer and the IRS to establish an installment agreement on a debt of over $70,000. The taxpayer will be paying $140.00 a month for the next 7 years (remaining life on the collection statute). While the payment plan will go for a long period of time, as long as he remains current and compliant, files timely, and pays his installment agreement, the total payout will be $11,760.00. Therefore, over time, he will save at the very least $60,000, not including accruals which will amount to $120,000 total with penalty and interest over the 7 year period.

This strategy was very beneficial to our client due to the fact there was so much to be had in net savings. We also resolved a State of Hawaii liability for the same client, he owed approximately $12,000. We set up a long term payment plan of $150.00 per month that will be revisited in 1 year due to limitations on their payment system.

Our client is satisfied not only because of the savings, but the headaches and stresses that were removed from his life due to our representation on his behalf at Larson Financial.