Another Great Result
My client had an MBA, was married with kids and making six figures. But he hit the skids. It seems his life collapsed in alcohol and drug abuse. Eventually, he was convicted of a crime. He lost his job, his wife and children. He now works less than $30,000 a year.
During his downward spiral, he used his retirement plan money to live and pay legal fees. He did not have taxes withheld and was also hit with 10% penalty. He owed about $40,000 in taxes, fees and penalties.
This may come as a surprise, but the IRS recognizes alcohol and drug addiction for the terrible diseases they are. We submitted an Offer in Compromise, and told his story. We told the IRS about the tragic consequences of addiction, and showed them how my client was rebuilding his life.
We settled this tax liability for $990. It was good to help someone rebuild. He will make it, slowly, step by step, but surely.
This one felt good.