You recently found out that you (and your business) owe the IRS over $50,000. You went to your bank to get a loan to pay the IRS off and your bank told you they cannot help you.
Do you have any options?
Solution:
Going to your local bank should always be only your first option. I often receive referrals from bankers to help their clients...You have a wealth of options available to help you with this current financial pain.
My 1st suggestion is to immediately contact a competent "Enrolled Agent' or CPA to help represent you with the IRS, or use an attorney. Do NOT represent yourself! You need to be proactive with this issue.
Oftentimes you can arrange (with the help of a tax or legal professional) a reasonable payment plan.(Feel free to Email me for a referral list of these professionals).
Next, insure that you are (or can become) current, with all your other taxes, including state and local. Do not ignore these issues. Businesses can be forced to close because of tax issues (not to mention the day to day stress that will hamper a business owner's focus)
There are a number of options for funding even if you have IRS and other tax issues. Keep in mind that you are NOT alone in this. A good percentage of small business owners are in the same position you are.
Regardless, always investigate ALL options. 'If you do not know your options, you have none"
Please – Contact me for a no-obligation review of your cash flow needs.
This type of inventory is called captive profit.
We have programs in place working with Marmista Inventory Solutions to help turn this "captive profit" into a cash flow solution.
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Do you know a business owner that has "dead" inventory? or equipment?
We have programs in place working with Marmista Inventory Solutions to help turn this "captive profit" into a cash flow solution.
Contact us today, for a FREE, no obligation consultation.
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