Tax Guard Resolved a $2.2 Million Liability for Construction Company
Tax Guard successfully resolved an IRS liability of $2.2 million for a West Coast construction company through a lien-deferred installment agreement with a payment of $4,120 per month. In turn, the business was able to continue funding with nFusion Capital. The construction company fell behind under the original owner, leaving the new business owner to address inherited operational and financial challenges.
Megan Harless, an Associate with Tax Guard:
· Prevented the IRS from levying bank accounts and accounts receivable,
· Secured a block on the Federal Payment Levy Program (FPLP),
· Negotiated an installment agreement with a payment of $4,120 per month for the first year with an increase to $15,000 thereafter based on the business’s ability to pay, and
· Convinced the IRS to defer filing the federal tax lien, thereby protecting the lender and preserving the funding relationship.
The payment of $4,120 per month for the first year and then $15,000 per month thereafter constitutes a partial payment installment agreement (PPIA), which the IRS acknowledges “will not fully satisfy the liability” and puts the business in a position to repay approximately $1.67 million over the statute of limitations for collections (approximately ten years).
“The revenue officer was incredibly detailed and required several rounds of information,” said the business owner. “Megan handled all the communication and clearly conveyed our situation, even though there were a lot of moving pieces. She also helped me understand what we needed to do to get current and compliant with the IRS. The outcome was more than I could have hoped for.”
“We know the IRS often files a federal tax lien during the resolution process,” said Shauna Brantley, Senior Account Executive at nFusion, “so we were thrilled that Megan prevented the lien from being filed while also blocking exposure to the Federal Levy Payment Program. She proactively addressed the risks, allowing us to continue funding a valued client.”