Press Release: Tax Guard Eliminates $1.2 Million IRS Liability for Trucking Company Published October 14, 2011
Denver, Colo (October 14, 2011) – Tax Guard, Inc. successfully resolved a $1,250,000 IRS liability for a trucking company so it could continue factoring with TAB Bank. The trucking company, which had restructured entities a few years earlier, had some discrepancies and redundancies in the withholding returns that resulted in a substantial liability. The company’s efforts to resolve the issue with the IRS were not gaining traction. Tax Guard was retained and shortly thereafter resolved the discrepancies so that the business had to pay nothing to the IRS and actually received a credit of $350. Tax Guard also successfully prevented a federal tax lien from being filed while the discrepancies were addressed.
“Our Revenue Officer was actually very pleasant,” said the company’s CFO. “I think she wanted to help, but we just weren’t getting anywhere. Tax Guard removed the case from the Revenue Officer’s inventory, handled all communication with the Examination Division, and was able to explain the problem and present the solution in a way the IRS could understand. I was able to focus my attention on running our business.”
“Tax Guard identified the liability with the IRS, diagnosed the problem, and quickly resolved it in such a manner that our collateral was never at risk,” said Tim Valdez, Chief Lending Officer at TAB Bank. “I have always been pleased with the work Tax Guard does for us and our clients.”
Tax Guard, Inc. is the world’s only company that monitors tax compliance and identifies tax risks before an IRS tax lien is filed. Its patent-pending due diligence and monthly monitoring processes identify businesses that have not paid or filed taxes on time and determine with pinpoint accuracy the level of risk to factors and asset-based lenders. When tax resolution is deemed necessary and advantageous to the factor or asset-based lender, Tax Guard, Inc.’s superiority in this field allows the lender/client relationship to thrive for long-lasting benefit.
For information on Tax Guard, Inc., visit www.tax-guard.com, call (303) 953-6325 or email Jason Peckham directly at firstname.lastname@example.org