Tax Professionals - Nguyen, Wilson, Chung & Associates, LLC

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NWC Tax Case Studies

NWC Tax, LLC takes the time to evaluate our client’s tax debt situations. NWC Tax representatives will research the applicable tax laws and develop a comprehensive strategy to resolve a tax problem that has the best chance for success.

Protest Case:

Client #A361

Client owed 2004 income taxes for about $25,000 and the client came to us after the assessment of the taxes from a CP2000 Notice. The IRS assessed additional taxes as a result of a 1099-C Cancellation of Debt. After filing a Protest with the IRS and providing information that showed the client was insolvent at the time of the cancellation, total tax liability was reduced to approx. $1300 for 2004.

Client # N143

Client owed 2003 income taxes for approximately $15,000, and the client came to us after the assessment of the taxes after an audit. The IRS disallowed a portion of the un-reimbursed business expenses that was claimed on the taxpayer’s Form 1040 for wages that she paid for her assistant because the IRS claimed the expense could not be claimed by an employee. We filed a Protest for reconsideration of the tax liability because the IRS agent was incorrect in her application of the tax laws. The tax liability was reduced to $0 and subsequent payments were refunded in the amount of $2,583.

Currently not Collectible (CNC) Case:

Client # G567

Client owed 1993 income taxes for approximately $16,668 and the IRS threatened to garnish her social security income. Working with the IRS collections divisions, we were able to place the client on currently non-collectible status where the IRS agreed not to take further collection actions. The collection statute would not have expired for another 10 months because the return was filed several years late. It is expected that the collection statute will run out while the taxpayer is under CNC status. Client will not be responsible to pay the balance of the tax owed.

Substitute for Returns (SFR) Reconsideration Case:

Client # H832

Client owed approximately 1.5 million dollars for 2004 after an SFR was filed by the IRS. The client came to us after the assessment of taxes. We discovered that the IRS did not correctly calculate the tax liability. The additional taxes were coming from stock options in which the profits were already reported on his W-2. After filing the reconsideration, client’s tax liability was corrected to $38,496 plus the accrued penalties and interest. A request for an abatement of penalties was granted by the IRS and the client was issued a refund of over $19,000. The state tax issues were also resolved.

Collection Due Process Case:

Client #M214

Client was working with a revenue officer and the revenue officer wanted $1,200 a month in monthly payments which would have been very difficult to make for the client. The client came to us after he could not reach an agreement with the revenue officer. We filed a collection due process hearing request and working with an Appeals Officer, we were able to negotiate a lower payment of $600 a month which the taxpayer could make.

30-Day Letter Appeal Case:

Client #E430

After an IRS examination, over $150,000 in taxes was proposed resulting from disallowance of business losses because the IRS characterized the business as a passive activity. We filed an appeal from the 30-day letter. We were able to negotiate the tax with the Appeals Officer to approximately $15,000 when we were able to show the Appeals Officer that the losses were allowed under the tax laws.

Nguyen, Wilson, Chung & Associates, LLC

305 N. Harbor Blvd., Suite 325
Fullerton, Ca 92832
1-800-518-0198
Fax: (800) 862-3540
www.nwctax.com