$58,650 Tax Debt Settled for $2,000
Memphis, Tennessee – Represented taxpayer who owed the IRS over $58,650. Tax debt was reduced to $2,000 through an accepted offer in compromise.
$1,420,838 CP2000 Assessment Reduced to $0
Tampa, Florida – Taxpayer received IRS Notice CP2000 proposing additional tax of $1,420,838, based on cryptocurrency trades reported to the IRS on Form 1099-K. Taxpayer challenged the proposed assessment but the IRS upheld it and issued a Statutory Notice of Deficiency. DeWitt Law represented Taxpayer and challenged the assessment in U.S. Tax Court, resulting in the assessment being reversed to $0.
$131,672 Tax Debt Settled for $4,582
Represented taxpayer who owed the IRS over $131,672. Tax debt was reduced to $4,582 through an accepted offer in compromise.
$448,000 Tax Debt Settled for $10,000
Represented taxpayer who owed the IRS over $448,000. Tax debt was reduced by over 80% through an accepted offer in compromise.
$460,313 CP2000 Assessment Reduced to $9,527
Nashville, Tennessee – Taxpayer received IRS Notice CP2000 proposing additional tax of $460,313, based on income reported to the IRS on Form 1099-S from the sale of several residential properties owned by Taxpayer. DeWitt Law represented Taxpayer and challenged the proposed assessment with the IRS. The IRS never responded and issued a Statutory Notice of Deficiency. After litigation in U.S. Tax Court, the assessment was reduced to $9,527.