Press Releases
JK Harris & Company saves Beaufort man in excess of $125,000
NORTH CHARLESTON, S.C. – Owing the IRS money can be a very unpleasant experience. Just ask James Cooler of Beaufort, S.C.
Cooler found himself in a situation he could not get himself out of. For several years, he was not able to pay and was not aware of how to make his Estimated Tax Payments for his antique business. Eventually, his IRS liability grew to nearly $127,000. The IRS had also filed a federal tax lien against him.
Fortunately, Cooler came to JK Harris and Company for help. That help came in the form of an Offer in Compromise that settled his debt with the IRS for a mere $800.
“I thank each and everyone involved in solving this problem, and I appreciate every effort made,” said Cooler.
An Offer in Compromise is an agreement between the IRS and taxpayer that allows the taxpayer’s delinquent tax debt to be compromised for less than the amount owed. The offered dollar amount is based on the taxpayers’ net worth plus their future income potential, in other words, what the client is actually able to pay.
Cooler worked closely with his JK Harris Case Specialist in preparing the Offer in Compromise. Once the Offer was submitted to the IRS, it took just five months for it to be accepted.
The Offer was accepted for the initial amount proposed by JK Harris. The topic of counter offers, which are often necessary depending on the IRS’ final decision, were never discussed since JK Harris’ first proposal was approved.
Within a month of the acceptance of his Offer, Cooler paid the agreed upon amount and is now taking his JK Harris Case Specialist’s advice by making his quarterly Estimated Tax Payments for his business, and paying any balances due in full each year.
"I would greatly recommend JK Harris to others," Cooler said.