Tax Lien Resolution & Expungement

$1 million in tax liability resolved by Offer in Compromise

Expungement Award Date: March 10, 2021
FINRA Hearing Site: N/A
FINRA Respondent Firm: Internal Revenue Service (IRS)
FINRA Claimant Representative: Dochtor Kennedy, MBA, J.D.

Case Objective:

A financial advisor accrued $1,106,032.35 in IRS tax liability over the course of several years. The advisor hired AdvisorLaw to resolve the liability by Offer In Compromise, as well as the tax liens.

Case Summary:

The advisor submitted an Offer-In-Compromise proposal to the IRS with all necessary forms and supporting documents. A financial statement was compiled over months using a number of sources provided by the client. The proposal was initially denied on the basis that the advisor could full-pay, based on assets and future income. Undeterred, AdvisorLaw submitted a response with additional information and calculations.

Following our response, the IRS agreed that the advisor could not full-pay the liability, and it provided a counteroffer, which the advisor accepted. While the advisor made significant monthly revenue from his book, the liability was far too great to have paid in full, according to IRS guidelines. Due to AdvisorLaw’s experience in the tax-resolution industry, we were successful in navigating the Offer In Compromise process to procure a major win for our client.


The IRS agreed to an Offer In Compromise for $132,804, saving our client $973,228.35. The tax liens issued by the IRS will subsequently be removed from the public record, and the advisor’s BrokerCheck and CRD reports. AdvisorLaw’s efforts will expedite both actions.

Now that the IRS has accepted the Offer In Compromise, the advisor can sell his book to a colleague. The buyer was hesitant to complete the transaction while the IRS liens were present — keeping the transaction on hold for more than a year.

Contact us to discuss AdvisorLaw's Tax Lien Expungement & Resolution services. The consultation is complimentary, and our services were created exclusively for financial advisors.

Expungement Award