Tax Resolution: IRS Pays Client in Trucking Industry After C&A Steps In

No one likes owing money to the IRS. But many companies end up in hot water with the organization. Hard times often call for hard choices to be made. We’ve seen businesses opt to not pay payroll taxes because they’re low on cash flow and need those funds to survive. 

Our Tax Resolution Services are designed to fix tax issues, reduce IRS interest and penalties, and address any underlying tax structure problems for our clients. 

Recently, a client in the trucking industry reached out to us for Tax Resolution Services. Here’s what we did for them.

The Problem

Our client was a transportation company that had taken out a PPP loan. They were under the impression that they didn’t qualify for R&D Tax Credits, and were looking at a stiff tax liability. On top of that, their CPA wasn’t involved in the process of how the loan impacted the company’s overall tax burden. 

Although the business had worked out a payment plan with the IRS, they thought they’d exhausted all their options. They were looking at a 40K tax liability, and additional penalties and interest when we met with them. 

Solution and Results

We discovered that the company qualified for Employee Retention Credits, and additional monies were found simply by changing the nature of their shareholder compensation. In total, we got the company:

  • $58,000 in Employee Retention Credits
  • $22,000 through changes in shareholder compensation

Through our work, our client’s tax liability was reduced to zero and the IRS owed them money instead. 

Contact Us Today for Tax Resolution Services

Does your business owe the IRS? Our Tax Resolution Services are designed to take a sharp, critical look at your business financials and find creative ways to reduce your tax burdens. 

Contact us today at (508) 687-6329 for a free consultation. 

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