Tax Guard Successfully Resolved $750K Liability for Insurance Agency

January 20, 2025 - Tax Guard successfully resolved an IRS liability of $750,000 for an insurance agency by negotiating a lien-deferred installment agreement with a payment of $230 per month. As a result, the business can continue funding with an insurance specialty lender (the “lender”). The insurance agency initially fell behind after changing payroll providers a few times, which created some confusion about compliance.

Megan Harless, an Associate with Tax Guard:

• Prevented the IRS from levying bank accounts and accounts receivable,

• Negotiated an installment agreement with a monthly payment of $230 based on the business’s ability to pay,

• Convinced the IRS to defer filing the federal tax lien, thereby protecting the lender and preserving the funding relationship, and

• Limited assessment of the trust fund recovery penalty to one business officer, who was placed in a non-collectible status, limiting personal exposure.

The payment of $230 per month 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 $27,600 over the statute of limitations for collection (approximately ten years).

“Megan was an absolute lifesaver,” said the business owner. “I was trying to run my business and handle everything with the IRS myself, but I was in way over my head. I am forever grateful to our lender for introducing me to Tax Guard. They set up a payment I can afford and now I can focus on growing my business.”

“The $230 monthly payment is a great result, but Megan really went above and beyond,“ said the lender. “As a factor, we know we usually need a subordination of federal tax lien to protect our interests, so we were very happy when Megan explained that we don’t need a subordination in this case because the IRS agreed not to file a federal tax lien.”