Tax Guard Resolves $1.4MM IRS Liability for Tree Nursery

Tax Guard resolved a combined $1.4 million IRS liability through three installment agreements totaling $25,000 per month for a tree nursery, allowing the businesses to continue funding with Kore Capital.

The nursery fell behind after losing some large clients. The IRS revenue officer initially assigned to the case was extremely aggressive, but Tax Guard worked with an appeals officer to secure the necessary agreements.

Matt Lorenz, an associate with Tax Guard:

•  Prevented the IRS from levying bank accounts and accounts receivable

• Reconciled the missing returns and deposits for the 941 and 943 withholding returns

• Deferred the filing of federal tax liens until installment agreements were in place

• Secured three installment agreements with combined payments of $25,000 per month

• Obtained subordinations of the federal tax lien for the three entities to protect Kore Capital’s security interest in the receivables

“Our revenue officer was really aggressive. She repeatedly threatened to file federal tax liens and levy our bank accounts. She wouldn’t even consider a payment arrangement,” the nursery owner said, according to Tax Guard. “Matt filed an appeal so he could hammer out a deal with a different person at the IRS, which allowed us to start funding with Kwesi [Rogers of Kore Capital] and get current with our federal tax deposits. Without Matt’s work, we would have been stuck. I’m so thankful Kwesi made the introduction to Tax Guard.”

“Tax Guard solves IRS issues. But really, they preserve the funding relationship. They protect my client and they protect me so I can fund,” Kwesi Rogers of Kore Capital, said. “I don’t know how the IRS works and I really don’t want to know. Matt was on top of the negotiations from day one and kept me up to speed throughout the entire process, which is all I really need to know.”